MIRA
INFORM REPORT
|
Report Date : |
05.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SYMBIOTEC PHARMALAB LIMITED [w.e.f. 27.10.2005] |
|
|
|
|
Formerly Known
As : |
SYMBIOTIC PHARMALAB PRIVATE LIMITED |
|
|
|
|
Registered Office : |
385/2, Pigdamber, Near Mashal Hotel, Rau, Indore-453331, Madhya
Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
20.09.2002 |
|
|
|
|
Com. Reg. No.: |
10-15293 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.63.420
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24232MP2002PLC015293 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BPLS03752A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAGCS9311M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Exports of Cortico-Steroid Derivatives. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1740000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
latest financials of the company are not made available. As per previous year’s
record, the company is found to be normal for business dealings. However, trade relations are reported as fair. Business is active.
Payment terms are unknown. In absence of latest financials, 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 |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB – [Long Term Bank Facilities] |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
January 2012 |
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 / Factory : |
385/2, Pigdamber, Near Mashal Hotel, Rau, Indore-453331, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-4200052 |
|
Fax No.: |
91-731-4201222 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Anil Satwani |
|
Designation : |
Managing Director |
|
Address : |
179, Palsikar Colony, Indore-452004, |
|
Date of Birth/Age : |
21.08.1969 |
|
Date of Appointment : |
20.09.2002 |
|
Din No.: |
00041531 |
|
|
|
|
Name : |
Mr. Sushil Satwani |
|
Designation : |
Whole Time Director |
|
Address : |
179, Palsikar Colony, Indore-452004, |
|
Date of Birth/Age : |
25.06.1971 |
|
Date of Appointment : |
30.10.2005 |
|
Din No.: |
00041575 |
|
|
|
|
Name : |
Mr. Vikas Singhi |
|
Designation : |
Director |
|
Address : |
10/1, |
|
Date of Birth/Age : |
03.11.1968 |
|
Date of Appointment : |
14.08.2006 |
|
Din No.: |
00041466 |
|
|
|
|
Name : |
Mr. Varinder Ahuja |
|
Designation : |
Director |
|
Address : |
603 Magna M-A Vasani Marvel On, |
|
Date of Birth/Age : |
04.11.1966 |
|
Date of Appointment : |
20.12.2005 |
|
|
|
|
Name : |
Ms. Deepa Valangaiman Sankaran |
|
Designation : |
Director |
|
Address : |
Franklin Templeton, Wockhardt Tower, East Wing C-2, G Block, Level 4,
Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
Date of Birth/Age : |
17.11.1968 |
|
Date of Appointment : |
15.09.2011 |
|
Din No.: |
01803254 |
|
|
|
|
Name : |
Mr. Ravindra Siddappa Shapeti |
|
Designation : |
Director |
|
Address : |
G 50, Kalindi Park, Shri Nagar Extension, Indore-452001, Madhya
Pradesh, India |
|
Date of Birth/Age : |
26.11.1950 |
|
Date of Appointment : |
01.12.2010 |
|
Din No.: |
00321634 |
|
|
|
|
Name : |
Mr. Arun Mangilal Luhruka |
|
Designation : |
Alternate Director |
|
Address : |
1902, Lakshachandin Heights Tower, B Gokuldham, Mumbai-400063 (East),
Maharashtra, India |
|
Date of Birth/Age : |
04.11.1966 |
|
Date of Appointment : |
20.07.2012 |
|
Din No.: |
02889091 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Anil Satwani |
|
535290 |
|
Manoharlal Satwani |
|
140000 |
|
Kashish Satwani |
|
490000 |
|
Symbiotec Steriods Private Limited |
|
1852900 |
|
Sushil Satwani |
|
248500 |
|
Swati Sachdev |
|
70000 |
|
Naishadh Paleja |
|
609000 |
|
Sasi M.N. |
|
7000 |
|
J.C. Shah |
|
8400 |
|
Sunil Satwani |
|
70000 |
|
Pramila Hasmukh Mehta Bhavesh Hasmukh Mehta Divyesh Hasmukh Mehta |
|
26600 |
|
Goldfin Capital Private Limited |
|
40600 |
|
D.N. Pandya |
|
11900 |
|
S. Mandloi |
|
11900 |
|
Anand Gupta |
|
3500 |
|
Rakesh Gupta |
|
3500 |
|
Falguni Divyesh Mehta Divyesh Hasmukh Mehta |
|
26600 |
|
Sejal Bhavesh Mehta Bhavesh Hasmukh Mehta |
|
26600 |
|
Divyesh Hasmukh Mehta Falguni Divyesh Mehta |
|
26600 |
|
Bhavesh Hasmukh Mehta Sejal Bhavesh Mehta |
|
26600 |
|
Mentor Capital Limited |
|
158340 |
|
Superstar Exports Private Limited |
|
292320 |
|
Satyamitra Stock Consultants Private Limited |
|
158340 |
|
Soyumm Marketting Private Limited |
|
730800 |
|
Monica Tripathi |
|
1400 |
|
Mitesh Patel |
|
2800 |
|
Rakesh Jhunjhunwala |
|
730800 |
|
Mulji Mehta & Sons |
|
31710 |
|
Franklin
Templeton Private Equity Strategy |
|
1100 |
|
|
|
|
|
TOTAL
|
|
6343100 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
50.99 |
|
Directors
or relatives of directors |
|
23.89 |
|
Other
top fifty shareholders |
|
25.12 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Exports of Cortico-steroid Derivatives. |
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|
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mahesh C Solanki and Company Chartered Accountant |
|
Address : |
119, Bansi Trade Centre, 581/ 5, M.G. Road, Indore-452001, |
|
Tel. No.: |
91-731-2534055/3012040/2432777/4067928 |
|
Fax No.: |
91-731-4067928 |
|
E-Mail : |
|
|
Website : |
|
|
PAN No: |
AAKFM4247M |
|
|
|
|
Associates/Subsidiaries : |
Symbiotic Pharmalab (Singapore) Pte Limited |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6343100 |
Equity Shares |
Rs.10/- each
|
Rs.63.431
Millions |
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6342000 |
Equity Shares |
Rs.10/- each
|
Rs.63.420
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
63.420 |
63.420 |
45.300 |
|
|
2] Share Application Money |
15.000 |
10.000 |
0.000 |
|
|
3] Reserves & Surplus |
357.379 |
306.851 |
234.621 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
435.799 |
380.271 |
279.921 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
753.633 |
626.845 |
416.103 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
753.633 |
626.845 |
416.103 |
|
|
DEFERRED TAX LIABILITIES |
9.447 |
10.483 |
15.527 |
|
|
|
|
|
|
|
|
TOTAL |
1198.879 |
1017.599 |
711.551 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
659.816 |
611.292 |
211.413 |
|
|
Capital work-in-progress |
120.922 |
98.770 |
297.109 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.775 |
1.775 |
1.775 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
357.120
|
259.105 |
163.019
|
|
|
Sundry Debtors |
196.748
|
385.694 |
156.735
|
|
|
Cash & Bank Balances |
82.923
|
64.578 |
27.316
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
95.212
|
112.779 |
46.908
|
|
Total
Current Assets |
732.003
|
822.156 |
393.978 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
282.000
|
486.652 |
40.257
|
|
|
Other Current Liabilities |
28.920
|
29.032 |
150.997
|
|
|
Provisions |
5.323
|
1.775 |
3.343
|
|
Total
Current Liabilities |
316.243
|
517.459 |
194.597
|
|
|
Net Current Assets |
415.760
|
304.697 |
199.381
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.606 |
1.065 |
1.873 |
|
|
|
|
|
|
|
|
TOTAL |
1198.879 |
1017.599 |
711.551 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1220.900 |
891.512 |
595.563 |
|
|
|
Other Income |
23.520 |
12.509 |
8.149 |
|
|
|
TOTAL (A) |
1244.420 |
904.021 |
603.712 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
852.232 |
642.329 |
|
|
|
|
Manufacturing service costs |
70.235 |
41.139 |
|
|
|
|
Employee related expenses |
56.261 |
33.618 |
|
|
|
|
Administrative selling other expenses |
60.004 |
43.972 |
503.426 |
|
|
|
Research development expenditure |
17.597 |
14.151 |
|
|
|
|
Prior period items |
(3.456) |
0.000 |
|
|
|
|
TOTAL (B) |
1052.873 |
775.209 |
503.426 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
191.547 |
128.812 |
100.286 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
93.737 |
51.722 |
61.559 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
97.810 |
77.090 |
38.727 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
35.825 |
22.962 |
10.175 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
61.985 |
54.128 |
28.552 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.458 |
0.018 |
2.754 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
50.527 |
54.110 |
25.798 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
127.900 |
73.700 |
47.949 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
178.427 |
127.810 |
73.747 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
398.100 |
197.300 |
87.394 |
|
|
|
Other Earnings |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
398.100 |
197.300 |
87.394 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
659.300 |
392.206 |
|
|
|
Capital Goods |
|
|
1.946 |
|
|
TOTAL IMPORTS |
848.400 |
659.300 |
394.152 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.97 |
9.26 |
5.69 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.06
|
5.99 |
4.27
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.07
|
6.07 |
4.79
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.45
|
3.77 |
4.72
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.14 |
0.10
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.73
|
1.65 |
1.49
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31
|
1.59 |
2.02
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
FINANCIAL RESULTS:
During FY 2010-11
Subject delivered yet another sterling performance across several financial and
operating indicators. The robust business plans, sound management practices
that adapted rapidly to the changing environment and the contribution of their
employees have collectively resulted in the company performing exceedingly
well.
Subject registered
a growth of 38% in Gross sales from Rs 904.000 Millions (FY 2009-10) to Rs.
1244.400 Millions (FY 2010-11). The Company has achieved EBDITA of Rs. 188.100
Millions in F.Y.2010-11 with an increase of 46% as compared to Rs. 128.800
Millions. in F.Y. 2009-10. The Company has achieved Net Profit of Rs. 50.600
Millions as against Net Profit of Rs. 54.100 Millions in 2009-10. The earnings
per share (EPS), on an equity share having face value of Rs. 10/-, stands at
Rs. 7.97 considering the total equity capital of Rs. 63.400 Millions.
During the year
Subject manufactured 23,173 Kgs of Active Pharmaceutical Ingredients (Bulk
Drugs) as against production of 14,914 Kgs for the year ended 31st
March, 2010. The production has ramped up by 55%.
KEY HIGHLIGHTS OF THE BUSINESS AND OPERATIONS:
Subject is in the
business of research, development, manufacturing and marketing of
research-based cortico-steroids since 1995. Company has continuously invested
in upgrading its research and manufacturing facilities so as to ensure
consistent delivery of high quality products to its customers.
Subject’s customer
base includes leading domestic pharmaceutical company such as Cipla, Ranbaxy ,
Cadila, Glenmark, Sun Pharma etc. and Overseas companies such as Glaxo
Smithkline, Teva, Lab Pisa, 3M etc.. Over the years, Subject has built a strong
management team to lead the way for future growth and expansion.
PROJECTS EXECUTED:
Anticipating high
growth in demand for cortico-steroids and Hormones, Subject has expanded its
manufacturing capacity. The new manufacturing unit at SEZ Pithampur, Indore
located 20 KM away from Rau unit is spread across 350,000 Sq. ft.. The new
facility has already started commercial production since September 2009.
Subject has
entered into business Segment of API’s for Sex hormones in addition to its
existing products in cortico-steroids segment and established Sex Hormones
Synthesis Block at SEZ which has also started production in January 2010.
FIXED ASSETS:
·
Leasehold Land
·
Freehold Land
·
Building
·
Plant and Machinery
·
Office Equipments
·
Electric Fittings
·
Furniture and Fixtures
·
Computer
·
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.55.05 |
|
|
1 |
Rs.82.75 |
|
Euro |
1 |
Rs.71.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.