MIRA INFORM REPORT
|
Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ORCHEV PHARMA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Rangoli, 1st Floor, Opposite Jaynath Petrol Pump, Gondal
Road, Rajkot – 360002, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.06.1989 |
|
|
|
|
Com. Reg. No.: |
04-012430 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 9.990 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1989PTC012430 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO3086D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of bulk drugs. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 470000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Financially, the company is strong but there appears a drastic dip in
its net profitability. However, trade relations are fair. Business is active. Payments are
recorded as usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 : |
Rangoli, 1st Floor, Opposite Jaynath Petrol Pump, Gondal
Road, Rajkot – 360002, Gujarat, India |
|
Tel. No.: |
91-281-2365731/2365732 |
|
Fax No.: |
91-281-236533 |
|
E-Mail : |
|
|
|
|
|
Factory: |
Shapar Industrial Area, Rajkot – Gondal Highway, Veraval, District –
Rajkot – 360024, Gujarat, India |
|
Tel. No.: |
91-2827-252114/252115 |
|
Fax No.: |
91-2827-252113 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Viren Vasantbhai Patel |
|
Designation : |
Director |
|
Address : |
Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital, Kalawad
Road, City Rajkot – 360005, Gujarat, India |
|
Date of Appointment : |
01.06.2006 |
|
DIN No.: |
00544034 |
|
|
|
|
Name : |
Mr. Chirag Vasantbhai Patel |
|
Designation : |
Director |
|
Address : |
B/9, Shree Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital,
Kalawad Road, City Rajkot – 360005, Gujarat, India |
|
Date of Appointment : |
01.08.2006 |
|
DIN No.: |
00544051 |
|
|
|
|
Name : |
Mr. Vasantlal Odhavjibhai Bhalodia |
|
Designation : |
Director |
|
Address : |
B/9, Shree Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital,
Kalawad Road, City Rajkot – 360005, Gujarat, India |
|
Date of Appointment : |
28.06.1989 |
|
DIN No.: |
00544069 |
|
|
|
|
Name : |
Mrs. Kanchanben Vasantlal Bhalodia |
|
Designation : |
Director |
|
Address : |
B/9, Shree Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital,
Kalawad Road, City Rajkot – 360005, Gujarat, India |
|
Date of Appointment : |
03.10.1992 |
|
DIN No.: |
00544082 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vasantlal Odhavjibhai Bhalodia |
|
995 |
|
Vasantlal Odhavjibhai Bhalodia as Karta of Vasantial O Bhalodia HUF |
|
1544 |
|
Kanchanben Vasantlal Bhalodia |
|
707 |
|
Anilbhai Sridhar Kane |
|
104 |
|
Kasturben Amrutlal Patel |
|
110 |
|
Prafulkumar Vinaychandra Kamdar |
|
110 |
|
Dineshkumar Harjivanbhai Patel |
|
100 |
|
Ciragbhai Vasantbhai Patel |
|
2568 |
|
Viren Vasantlal Patel |
|
3006 |
|
Dipti Chiragbhai Patel |
|
457 |
|
Bharatbhai T Kalawadia |
|
78 |
|
Nitinbhai T Kalawadia |
|
78 |
|
Ameeben Virenbhai Patel |
|
133 |
|
|
|
|
|
Total |
|
9990 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of bulk drugs. |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Ranitidine HCL |
M.T. |
1800.000 |
540.000 |
371.215 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
State Bank of India, Bhaktinagar Branch, Dhebar Raod, Rajkot – 360001,
Gujarat, India |
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Facilities : |
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Banking
Relations : |
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|
|
|
Auditors : |
|
|
Name : |
H. Jamnadas and Company Chartered Accountants |
|
Address : |
217-219, Heera Panna Complex, Dr. Yagnik Raod, Rajkot – 360001,
Gujarat, India |
|
PAN No.: |
AABFH2320P |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.1000/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9990 |
Equity Shares |
Rs.1000/- each |
Rs.9.990
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 |
9.990 |
9.990 |
9.990 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
107.901 |
102.552 |
94.557 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
117.891 |
112.542 |
104.547 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
15.357 |
27.205 |
5.417 |
|
|
2] Unsecured Loans |
12.113 |
14.356 |
49.034 |
|
|
TOTAL BORROWING |
27.470 |
41.561 |
54.451 |
|
|
DEFERRED TAX LIABILITIES |
1.821 |
1.228 |
1.485 |
|
|
|
|
|
|
|
|
TOTAL |
147.182 |
155.331 |
160.483 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
51.350 |
39.963 |
43.484 |
|
|
Capital work-in-progress |
6.241 |
2.485 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.094 |
0.094 |
0.094 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
54.180
|
67.912 |
78.065 |
|
|
Sundry Debtors |
40.620
|
37.953 |
31.363 |
|
|
Cash & Bank Balances |
4.339
|
2.727 |
3.366 |
|
|
Other Current Assets |
36.459
|
26.915 |
1.245 |
|
|
Loans & Advances |
0.000
|
0.000 |
24.466 |
|
Total
Current Assets |
135.598
|
135.507 |
138.505 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
38.208
|
6.872 |
10.798 |
|
|
Other Current Liabilities |
0.914
|
2.584 |
4.363 |
|
|
Provisions |
6.979
|
13.262 |
6.439 |
|
Total
Current Liabilities |
46.101
|
22.718 |
21.600 |
|
|
Net Current Assets |
89.497
|
112.789 |
116.905 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
147.182 |
155.331 |
160.483 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
279.697 |
255.139 |
220.396 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
259.884 |
229.357 |
198.447 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.813 |
25.782 |
21.949 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.022 |
4.645 |
4.712 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.791 |
21.137 |
17.237 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.499 |
5.701 |
5.844 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.292 |
15.436 |
11.393 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.202 |
5.118 |
4.066 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.090 |
10.318 |
7.327 |
|
|
|
|
|
|
|
|
|
|
PRIOR YEAR
TAXATION |
0.000 |
0.000 |
(0.012) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
83.052 |
75.606 |
71.171 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
1.499 |
1.998 |
1.998 |
|
|
|
Corporate Dividend Tax |
0.243 |
0.324 |
0.332 |
|
|
|
General Reserve |
0.550 |
0.550 |
0.550 |
|
|
BALANCE CARRIED
TO THE B/S |
87.850 |
83.052 |
75.606 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales USD $ |
2693677 |
2692553.52 |
27.594 |
|
|
|
Export Sales Euro |
113816 |
819156.01 |
4.145 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
709.71 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.53
|
4.04 |
3.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.59
|
11.39 |
8.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.14 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.23
|
0.14 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.94
|
5.96 |
6.27 |
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 |
No |
|
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 |
No |
|
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 |
OPERATION AND PROSPECTS:
During the current year of operations,
the Company has achieved Revenue from Operation and Other Income of Rs. 279.697
Millions as against Rs.255.139 Millions during the previous year. The
production of Ranitidine for the year ended 31st March, 2012 as 304.131 M.T.
The Company has earned a Profit of Rs. 198.13 Lac before depreciation and
interest and a Profit of Rs. 10.292 Millions after providing for depreciation
and interest. The Directors are trying their level best to improve the
performance of the Company in terms of Turnover and Profitability. The
prospects of the Company’s business are bright and positive.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
From Directors |
10.597 |
11.640 |
|
From Shareholders and Directors' Relatives |
1.516 |
2.716 |
|
Total |
12.113 |
14.356 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24231GJ1989PTC012430 |
|
Name of the
company |
ORCHEV PHARMA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Rangoli, 1st Floor, Opposite Jaynath Petrol Pump, Gondal
Road, Rajkot – 360002, Gujarat, India Email: info@orchev.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10258643 |
|
Type of charge |
Immovable
Property Book debts Movable Property
(Not Being pledge) Floating charge Raw Materials, Semi-Finished
and Finished Goods |
|
Particular of
charge holder |
(CIN: U24231GJ1989PTC012430) State Bank of India, Bhaktinagar Branch, Dhebar Raod, Rajkot – 360001,
Gujarat, India Email: lokesh.yadav@sbi.co.in |
|
Nature of
instrument creating charge |
Instrument
Modifying Charge : Memorandum Relating to Deposit of Title Deeds for Creation
of further Charge for Term Loan Overall Limit Where the Initial Charge is
Created by way of Mortgage by Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
01.05.2013 |
|
Amount secured by
the charge |
Rs.66.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit: 3.25%
above BR (i.e. 13.95%) EPC/FBD : As per
Banks Guidelines Credit Exposure
Limit : As per Banks Guidelines Terms of
Repayment Repayable on
Demand subject to annual review Margin Raw Materials :
Imported - - Raw Materials :
Indigenous - 25% Semi Finished
Goods - 25% Finished Goods -
25% Components /
Consumables / Spares - 25% Domestic
Receivables - 50% EPC - 10% FBD - NIL Term Loan - NIL Letters of credit
- 10% Bank Gurantees - Extent and
Operation of the charge The Charge over Properties
as mentioned in Point No.15 below extends to cover the repayment of entire
credit facilities of Rs.66.500 Millions viz; A. Fund Based
Limits 1. Cash
Credit/EPC/FBD of Rs.62.500 Millions B. Non-Fund Based
Limits 1. Letter of
Credit (Import) (Interchangeable with CC Limit) of Rs.62.500 Millions 2. Credit
Exposure Limit of Rs. 4.000 Millions Others 2THS |
|
Date of
instrument modifying the charge |
12.04.2013 |
|
Particulars of
the present modification |
By virtue of this
modification, the Charge over Company's Immovable property as mentioned in
point no.15 above is extended to secure the repayment of enhanced credit
facilities of Rs.66.500 Millions |
FIXED ASSETS
TENGIBLE ASSETS
Direct Assets
- Land
- Factory Building
- Factory Furniture
- Factory Air Conditioner
- Road and Site Development
- Plant and Machinery
- Electrification
- Laboratory Equipment
- Microbiology laboratory
- Material Handling Lift
- Storage Tanks ‐ Chemicals
- Weighing Scale
- Sulphuric Acid Tank
Indirect Assets
- Other Building
- Office Equipment
- Office Attendance Machine
- Office Air Conditioners
- Office Furniture
- Motor Car
- Innova Car
- Car ‐ Hyundai i10
- Car ‐ Honda Civic
- Two Wheelers
- Other Misc. Assets
- Canteen Utensils
- Refrigerator
- Television Set
- Computer
- Tractor
- Ups and Battery
- Mobile Phone
- Telephone Instruments
- Water Storage Tank
- Water Cooler
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] 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.55.61 |
|
|
1 |
Rs.84.18 |
|
Euro |
1 |
Rs.71.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.