MIRA
INFORM REPORT
|
Report Date : |
15.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ADCOCK INGRAM LIMITED |
|
|
|
|
Registered
Office : |
Plot no. 49 D, Bommasandra Industrial Area, Anekal Taluk,
Bangalore-560099, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.04.2007 |
|
|
|
|
Com. Reg. No.: |
08-042361 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 380.500 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232KA2007PLC042361 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA10031A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCA4343M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Formulations. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (55) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a fine track record. The performance capability and financial position of the company is
good. Trade relations are decent. Business is active. Payment terms are
regular and as per commitment. The company can be considered good for business dealings at usual
trade terms and condition. |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan: A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
April, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Fund Based Facilities: A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
April, 2013 |
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. 49 D, Bommasandra Industrial Area, Anekal Taluk,
Bangalore-560099, Karnataka |
|
Tel. No.: |
91-80-27831338 |
|
Fax No.: |
91-80-27831338 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
No.13, Tawakal Chancery, |
|
Tel No.: |
91-80-41601451/ 2/ 3 |
|
|
|
|
Head Office : |
Physical Address: 1 New Road, (c/o
New Road and Postal Address: Private Bag X69, Bryanston, 2021, |
|
Tel. No.: |
+27 11 635 0000 |
|
Fax No.: |
+27 86 553 0000 |
|
|
|
|
Critical Care Address : |
Physical Address: No.1, Sebax Road, Aeoroton Postal Address: P.O.Box 6888, Johannesburg, 2000 |
|
Tel. No.: |
+27 11 494 8000 |
|
Fax No.: |
+27 11 494 1911 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Keith De Souza Francis |
|
Designation : |
Nominee director |
|
Address : |
90, Wyatt Drive, Barness London – SW138AB, England |
|
Date of Birth/Age : |
01.07.55 |
|
Date of Appointment : |
01.11.2007 |
|
DIN No.: |
00022680 |
|
|
|
|
Name : |
Mr. Gundala Venkatarami Reddy |
|
Designation : |
Managing director |
|
Address : |
House No.2148, 16th Cross, 22nd Main, 1st Sector, HSR Layout, Bangalore -560076, Karnataka, India |
|
Date of Birth/Age : |
01.07.1964 |
|
Qualification : |
B.Pharm |
|
Date of Appointment : |
11.02.2010 |
|
DIN No.: |
00044456 |
|
|
|
|
Name : |
Mr. Mahendra Chibabhai |
|
Designation : |
Nominee director |
|
Address : |
8228, Virgo Street, Extension 9, Lenasia, SouthAfrica |
|
Date of Birth/Age : |
08.11.1955 |
|
Date of Appointment : |
25.04.2007 |
|
DIN No.: |
01440851 |
|
|
|
|
Name : |
Mr. Muhammad Mahmood Bodhania |
|
Designation : |
Nominee director |
|
Address : |
No.38, Faunce Road, Robertsham, Johannesburg, South Africa |
|
Date of Birth/Age : |
22.04.1968 |
|
Date of Appointment : |
25.04.2007 |
|
DIN No.: |
01441797 |
|
|
|
|
Name : |
Gregory Hill Marc |
|
Designation : |
Nominee director |
|
Address : |
52, Bauhinia Street, Extention 40, Morningside, Transvaal South Africa |
|
Date of Birth/Age : |
18.09.1961 |
|
Date of Appointment : |
10.02.2011 |
|
DIN No.: |
05126301 |
KEY EXECUTIVES
|
Name : |
Mayanka Srivastava |
|
Designation : |
Secretary |
|
Address : |
No.2452, 14th Cross, 16th Main, Kumarswamy layout, Bangalore-560078, Karnataka, India |
|
Date of Birth/Age : |
24.07.1988 |
|
Date of Appointment : |
03.09.2012 |
|
PAN No.: |
CVRPS3857D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Medreich Limited, India |
|
19049940 |
|
Adcock Ingram Holdings Pty Limited, South Africa |
|
19000000 |
|
Chillale Govindraj |
|
10 |
|
Aswani Kumar |
|
10 |
|
V. Madhusudhan |
|
10 |
|
Kedareswar Ravva |
|
10 |
|
GV Rami Reddy |
|
10 |
|
Ramesh Dasari |
|
10 |
|
Total |
|
38050000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
49.93 |
|
Bodies corporate |
50.07 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Formulations. |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Actual
Production |
|
Installed capacity |
|
|
|
|
Capsules: Lakhs/Annum |
Nos. |
5000 |
-- |
|
Tablets: Lakhs/Annum |
Nos. |
24000 |
-- |
|
|
|
|
|
|
Production - Own
sale |
|
|
|
|
Capsules: Lakhs/Annum |
Nos. |
-- |
1843.71 |
|
Tablets: Lakhs/Annum |
Nos. |
-- |
18139.56 |
|
|
|
|
|
|
Production -
Contract manufacturing |
|
|
|
|
Capsules: Lakhs/Annum |
Nos. |
-- |
3811.45 |
|
Tablets :Lakhs/Annum |
Nos. |
-- |
1809.72 |
Note: The Company's products are exempt from licensing requirement
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· ING Vysya Bank Limited, 22, M G Road,Bangalore, Bangalore - 560001, Karnataka, India State Bank of Hyderabad Industrial Finance Branch,
Richmond, Bangalore - 560025, Karnataka, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
U. B. City, Canberra Block,12th Floor, No.24,Vittak Malya Road,U. B. City, Canberra Block,12th Floor, No.24,Vittak Malya Road, Bangalore-560001, Karnataka, India |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Holding company : |
· Adcock ingram healthcare pty ltd., South Africa Medreich limited, India CIN No.: U24232KA1973PLC002383 |
|
|
|
|
Fellow
Subsidiary company: |
· Aryton Drugs Manufacturing Limited, South Africa Medreich plc, Singapore Medreich plc, United Kingdom Medreich SA pty Limited, South Africa Genovo Development Services Limited, India CIN No.: U24230KA2008PLC046164 |
|
|
|
|
Other
Related Party: |
Adcock Ingram healthcare private limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38050000 |
Equity Shares |
Rs.10/- each |
Rs.380.500
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 |
|
380.500 |
380.500 |
|
(b) Reserves & Surplus |
|
273.060 |
189.766 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) Long-term borrowings |
|
43.879 |
141.879 |
|
(b) Deferred tax liabilities (Net) |
|
89.214 |
71.985 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
4.311 |
3.687 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
146.824 |
141.011 |
|
(b) Trade payables |
|
279.637 |
195.257 |
|
(c) Other current
liabilities |
|
100.968 |
173.486 |
|
(d) Short-term provisions |
|
68.957 |
32.011 |
|
TOTAL |
|
1387.350 |
1329.582 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
876.304 |
891.502 |
|
(ii) Intangible Assets |
|
0.537 |
1.457 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
8.302 |
10.979 |
|
(e) Other Non-current assets |
|
0.500 |
1.525 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
158.340 |
152.419 |
|
(c) Trade receivables |
|
183.470 |
95.117 |
|
(d) Cash and cash
equivalents |
|
42.999 |
66.110 |
|
(e) Short-term loans and
advances |
|
108.598 |
104.914 |
|
(f) Other current assets |
|
8.300 |
5.559 |
|
TOTAL |
|
1387.350 |
1329.582 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
380.500 |
|
|
2] Share Application Money |
|
|
11.616 |
|
|
3] Reserves & Surplus |
|
|
114.272 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
506.388 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
457.612 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
457.612 |
|
|
DEFERRED TAX LIABILITIES |
|
|
51.405 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1015.405 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
902.127 |
|
|
Capital work-in-progress |
|
|
12.348 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
187.116 |
|
|
Sundry Debtors |
|
|
132.567 |
|
|
Cash & Bank Balances |
|
|
29.214 |
|
|
Other Current Assets |
|
|
3.920 |
|
|
Loans & Advances |
|
|
194.273 |
|
Total
Current Assets |
|
|
547.090 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
92.704 |
|
|
Other Current Liabilities |
|
|
294.513 |
|
|
Provisions |
|
|
58.943 |
|
Total
Current Liabilities |
|
|
446.160 |
|
|
Net Current Assets |
|
|
100.930 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1015.405 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1403.299 |
1226.243 |
1128.958 |
|
|
|
Other Income |
48.774 |
92.388 |
46.437 |
|
|
|
TOTAL (A) |
1452.073 |
1318.631 |
1175.395 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
830.509 |
665.862 |
|
|
|
|
Employee benefit expense |
129.794 |
125.684 |
|
|
|
|
Other expenses |
235.959 |
202.194 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(23.767) |
45.866 |
|
|
|
|
TOTAL (B) |
1172.495 |
1039.606 |
941.340 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
279.578 |
279.025 |
234.055 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.759 |
45.118 |
58.296 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
243.819 |
233.907 |
175.759 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
41.150 |
39.590 |
36.165 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
202.669 |
194.317 |
139.594 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
66.308 |
65.580 |
48.476 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
136.361 |
128.737 |
91.118 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
189.766 |
114.272 |
76.398 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
45.660 |
45.660 |
45.660 |
|
|
|
Tax on Dividend |
7.407 |
7.583 |
7.584 |
|
|
BALANCE CARRIED
TO THE B/S |
273.060 |
189.766 |
114.272 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports at F.O.B. value |
1319.228 |
1157.701 |
1054.135 |
|
|
|
Service income |
20.529 |
17.065 |
12.902 |
|
|
TOTAL EARNINGS |
1339.757 |
1174.766 |
1067.037 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials and packing materials |
NA |
76.174 |
99.734 |
|
|
|
Capital goods |
NA |
5.021 |
56.296 |
|
|
TOTAL IMPORTS |
NA |
81.195 |
156.030 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic
|
3.58 |
3.38 |
2.39 |
|
|
|
Diluted |
3.58 |
3.31 |
2.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
9.39
|
9.76 |
7.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.44
|
15.85 |
12.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.70
|
14.75 |
9.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.34 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.29
|
0.50 |
0.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84
|
0.78 |
1.23 |
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) |
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 |
Yes |
FUTURE OUTLOOK
The Company will continue to invest in Quality Manufacturing and on Business Development so as to increase sales and consequently increase stakeholders value.
FIXED ASSETS
¯ Intangible Assets
Land
Buildings
Plant
and Equipment
Other
plant and Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
Computer
Equipments
¯
Intangible
Assets
Goodwill
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.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
55 |
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.