MIRA
INFORM REPORT
|
Report Date : |
15.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ADVANCED VITAL ENZYMES LIMITED (w.e.f. 23.09.2008) |
|
|
|
|
Formerly Known
As : |
ADVANCED BIO-NUTRACEUTICALS LIMITED |
|
|
|
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Registered
Office : |
5th Floor, 'A' wing, Sun Magnetica LIC Service Road, Louiswadi, Thane (West), Thane - 400 604 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.02.2005 |
|
|
|
|
Com. Reg. No.: |
11-151389 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.040
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2005PLC151389 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer and Exporter of Industrial Enzymes. |
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|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow and delayed |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. There appears huge accumulated losses as on 2012. External borrowings
also appear to be huge. Networth has been fully eroded. However, trade relations are fair. Business is active. Payment terms
are reported as slow and delayed. The company can be considered for business dealings with great
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 – 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.
INFORMATION PARTED BY (PARTIAL DETAILS)
|
Name : |
Mr. Arun Kumar |
|
Designation : |
Export Department |
|
Contact No.: |
91-22-41703200 |
|
Date : |
14.06.2013 |
LOCATIONS
|
Registered Office/
Corporate Office : |
5th Floor, 'A' wing, Sun Magnetica LIC Service Road, Louiswadi, Thane (West), Thane - 400 604, India |
|
Tel. No.: |
91-22-41703200 |
|
Fax No.: |
91-22-25835159 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.211, Phase – II, GIDC, Vapi – 396195, Gujarat, India |
|
Area : |
Owned |
DIRECTORS
As on: 18.09.2012
|
Name : |
Mr. Piyush Chandrakant Rathi |
|
Designation : |
Director |
|
Address : |
Row House No. 18, Teen hath Naka, Thane (West), Thane – 400601,
Maharashtra, India |
|
Date of Birth/Age : |
28.07.1980 |
|
Date of Appointment : |
17.02.2005 |
|
DIN No.: |
00366347 |
|
|
|
|
Name : |
Mr. Chandrakant Laxminarayan Rathi |
|
Designation : |
Director |
|
Address : |
Row House No. 18, Teen hath Naka, Thane (West), Thane – 400601,
Maharashtra, India |
|
Date of Birth/Age : |
12.06.1954 |
|
Date of Appointment : |
17.02.2005 |
|
DIN No.: |
00365691 |
|
|
|
|
Name : |
Ms. Savita Chandrakant Rathi |
|
Designation : |
Director |
|
Address : |
Row House No. 18, Teen hath Naka, Thane (West), Thane – 400601,
Maharashtra, India |
|
Date of Birth/Age : |
26.02.1961 |
|
Date of Appointment : |
17.02.2005 |
|
DIN No.: |
00365717 |
|
|
|
|
Name : |
Mr. Mukund Madhusudan Kabra |
|
Designation : |
Director |
|
Address : |
33, Sheetal Housing Society, Takli Road, Nasik – 422011, Maharashtra,
India |
|
Date of Birth/Age : |
09.07.1972 |
|
Date of Appointment : |
17.02.2005 |
|
DIN No.: |
00148294 |
KEY EXECUTIVES
|
Name : |
Mr. Arun Kumar |
|
Designation : |
Export Department |
MAJOR SHAREHOLDERS
As on: 18.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rathi L. Kishor on Behalf of Advanced Enzyme Technologies Limited |
|
100 |
|
Rathi C. Piyush on Behalf of Advanced Enzyme Technologies Limited |
|
18600 |
|
Rauka J. Beni on Behalf of Advanced Enzyme Technologies Limited |
|
100 |
|
Rathi L. Chandrakant on Behalf of Advanced Enzyme Technologies Limited |
|
100 |
|
Kabra M. Mukund on Behalf of Advanced Enzyme Technologies Limited |
|
100 |
|
Rathi C. Savita on Behalf of Advanced Enzyme Technologies Limited |
|
100 |
|
Chandrakant Rathi Finance and Investment Company Private Limited |
|
77600 |
|
Gitanjali Kabra |
|
9400 |
|
Sri Ravishankar on Behalf of Sri Ravi Shankar Trust, India |
|
9400 |
|
Atharva Captital Ventures Private Limited, India |
|
48500 |
|
Natural Barter Private Limited |
|
10000 |
|
Chandrakant Rathi HUF |
|
15000 |
|
Piyush Chandrakant Rathi HUF |
|
15000 |
|
Total |
|
204000 |
Equity Share Break up (Percentage of Total Equity)
As on: 18.09.2012
|
Category |
Percentage |
|
Bodies corporate |
66.71 |
|
Directors or relatives of Directors |
28.68 |
|
Other top fifty shareholders |
4.61 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Industrial Enzymes. |
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|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Not Available |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
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Auditors : |
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|
Name : |
M.M. Nissim and Company Chartered Accountants |
|
Address : |
Borodawala Mansion, B-Wing, 3rd Floor, 81, Dr. Annie Besant Road,
Worli, Mumbai - 400018, Maharashtra, India |
|
PAN No.: |
AACPN0423A |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
204000 |
Equity Shares |
Rs.10/- each |
Rs.2.040
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 |
|
2.040 |
0.940 |
|
(a) Share Capital |
|
0.000 |
0.000 |
|
(b) Reserves & Surplus |
|
(26.893) |
(35.255) |
|
(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 |
|
57.795 |
69.744 |
|
(b) Deferred tax liabilities (Net) |
|
0.573 |
0.984 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
16.678 |
20.963 |
|
(c) Other current liabilities |
|
14.466 |
18.302 |
|
(d) Short-term provisions |
|
0.272 |
0.000 |
|
TOTAL |
|
64.931 |
75.678 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
46.017 |
47.930 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(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 |
|
0.000 |
0.500 |
|
(e) Other Non-current assets |
|
0.766 |
0.784 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
6.194 |
10.621 |
|
(c) Trade receivables |
|
10.307 |
7.088 |
|
(d) Cash and cash equivalents |
|
0.297 |
0.578 |
|
(e) Short-term loans and advances |
|
1.262 |
7.921 |
|
(f) Other current assets |
|
0.088 |
0.256 |
|
TOTAL |
|
64.931 |
75.678 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.940 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2.731 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
3.671 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
49.385 |
|
|
TOTAL BORROWING |
|
|
49.385 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.604 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
53.660 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
50.146 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
13.430 |
|
|
Sundry Debtors |
|
|
8.209 |
|
|
Cash & Bank Balances |
|
|
0.206 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
10.297 |
|
Total
Current Assets |
|
|
32.142 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
25.048 |
|
|
Other Current Liabilities |
|
|
3.346 |
|
|
Provisions |
|
|
0.234 |
|
Total
Current Liabilities |
|
|
28.628 |
|
|
Net Current Assets |
|
|
3.514 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
53.660 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
63.956 |
58.275 |
28.866 |
|
|
|
Other Income |
3.541 |
0.454 |
41.312 |
|
|
|
TOTAL (A) |
67.497 |
58.729 |
70.178 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
35.694 |
20.823 |
|
|
|
|
Changes in Inventory |
(0.310) |
4.893 |
|
|
|
|
Employee benefits expense |
7.258 |
24.078 |
|
|
|
|
Other expenses |
12.616 |
37.478 |
|
|
|
|
TOTAL (B) |
55.258 |
87.272 |
65.236 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12.239 |
(28.543) |
4.942 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.669 |
5.326 |
0.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.570 |
(33.869) |
4.915 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.400 |
3.737 |
3.108 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
1.170 |
(37.606) |
1.807 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.592) |
0.380 |
0.869 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
1.762 |
(37.986) |
0.938 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(37.015) |
0.970 |
0.033 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(35.253) |
(37.015) |
0.970 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Value of Import on CIF Basis |
NA |
NA |
0.618 |
|
|
TOTAL IMPORTS |
NA |
NA |
0.618 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
13.86 |
(404.11) |
9.98 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.61
|
(64.68) |
1.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.83
|
(64.53) |
6.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.80
|
(49.69) |
2.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05)
|
1.10 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(2.33)
|
(2.03) |
13.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.58
|
0.67 |
1.12 |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
No |
|
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 |
REVIEW OF OPERATIONS:
During the year FY 2012 the Company has posted a revenue of Rs. 67.497 Millions as against Rs. 58.729 Millions in the previous year FY 2011. The net profit before tax of the Company is Rs. 1.170 Millions (1.73% of the revenue) during the year as against (Rs.37.985 Millions) of the previous year 2010-11.
FUTURE OUTLOOK:
Subject, (Advenza) is engaged in the business of development of proprietary products and does contract manufacturing of the said proprietary products for various companies of repute. The Company has long term contracts. Henceforth the Company will continue to focus on the development of its own proprietary products, licensing for the same and contract manufacturing of those products. The strategic objective of this move was to establish the Company as a leader in contract manufacturing of stabilized enzymes and nutraceutical (food grade) preparations across India. Your Company will also manufacture non-enzyme preparations on a profitable basis if the capacities permit.
FIXED ASSETS:
· Leasehold Land
· Buildings
· Plant and Machinery
· Office Equipments
· Furniture and Fixtures
· Computer
· Vehicles
AS PER WEBSITE DETAILS:
PRESS RELEASE:
ADVANCED ENZYMES
TECHNOLOGIES OPENS PLANT IN INDORE
Our News Bureau - Mumbai
Advanced Enzymes, manufacturer of industrial enzymes, has set up an ultra-modern manufacturing facility near Indore. The state-of-the-art plant has been built with an investment of over Rs 600.000 Millions and incorporates the topmost technological innovations available in the enzyme industry globally.
The new plant, spread over 38400 sq. mt, has the potential of providing employment to over 100 people, directly or indirectly. The new plant has enabled Advanced Enzymes to treble its fermentation capacity from 120 cu mt to 400 cu mt. The facility is also indigenously designed in such a way, that a further fermentation capacity of 600 cu mt can be added up in the same plant with minimal incremental investment in the near future.
C L Rathi, Managing Director, Advanced Enzymes said, “The new facility will help us cater to various industries and increase our global foot print. With the new plant in place, Advanced Enzymes expects to meet the growing demand for its products globally. As such 65 per cent of its total revenues are already generated from its international operations and this figure is expected to grow still higher in the near future.”
ADVANCED ENZYME
TECHNOLOGIES FILES DRHP WITH SEBI
4 April, 2013
Advanced Enzyme Technologies has filed a draft red herring prospectus (DRHP) with SEBI for a public issue of Rs 2000.000 Millions.
The company is one of the largest Indian enzyme company engaged in the research & development, manufacturing and marketing of more than 400 proprietary enzyme products developed from 55 enzymes operating in two primary business verticals namely Healthcare & Nutrition and Bio-Processing. Advanced Enzyme Technologies offer these products to their global clientele of more than 700 customers spanning presence across 45 countries worldwide.
The main objects of
this issue are:
> Phase-III expansion of the Manufacturing facility at Indore
> Establishment of Research and Development Centre at Nashik
> Establishment of Research & Development and Innovation Centre at
Thane
> Investment in our step-down subsidiary (Cal India Foods
International) for setup of manufacturing and R&D facilities
> Acquisitions & Other Strategic Initiatives and
> General Corporate Purposes
The Equity Shares issued through this DRHP are proposed to be listed on BSE and NSE.
ICICI Securities Limited, SBI Capital Markets Limited are the book running lead manager and Link In time India Private Limited is a registrar to the issue.
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
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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.