MIRA
INFORM REPORT
|
Report Date : |
08.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEGA FINE PHARMA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sethna Building, 4th Floor, 55, Maharshi Carve Road, Marine Lines, Mumbai-400002, Maharashtra |
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|
Country : |
India |
|
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|
Financials (as
on) : |
31.03.2013 |
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|
|
Date of
Incorporation : |
22.08.1995 |
|
|
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|
Com. Reg. No.: |
11-092028 |
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Capital
Investment / Paid-up Capital : |
Rs.16.209 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1995PTC092028 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACPO5228P |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Active Pharmaceutical Ingredients (APIs)
and Advanced Intermediates. |
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|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3365000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be sound. Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered for normal 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.
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000
denominations, pushing the deadline to January 1, 2015. A day before dates for
the Lok Sabha polls were
announced, the government decided to hike interest rates on fixed deposit
schemes offered by post offices up to 0.2 per cent. The new rates will be
effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s
appeal against a ruling over transferring ownership of its local mobile phones
plant which is the subject of a tax dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into
Hindustan Aeronautics Limited’s contracts from
Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau
of Investigation will look into allegations that over $80 million was paid in
kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a
solution for problems with state-owned Air India’s 787 Dreamliners.
The aircraft has experienced a series of malfunctions since its debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term rating BBB (Suspension) |
|
Date |
April 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating A3+ (Suspension) |
|
Date |
April 2013 |
Suspension for Reason: The suspension follows ICRA’s inability to carry out a rating surveillance in the
absence of the requisite information from the company.
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
|
Name : |
Mr. Nilesh Satghare
|
|
Designation : |
Account Department |
|
Contact No.: |
91-22-22090666 |
|
Date : |
07.04.2014 |
LOCATIONS
|
Registered Office : |
Sethna Building, 4th Floor, 55, Maharshi Carve Road, Marine Lines, Mumbai-400002, Maharashtra, India |
|
Tel. No.: |
91-22-61461111 / 26302513 / 22090666 |
|
Fax No.: |
91-22-61461109 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Nashik Site: |
31-35 and 48-51/201 Lakhmapur, Dindori, Nashik - 422202, Maharashtra, India |
|
Tel. No.: |
91-2557-250121 |
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Fax No.: |
91-2557-250586 |
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E-Mail : |
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Vapi Site: |
911, 3rd Phase, GIDC, Vapi -
396195, Gujarat, India |
|
Tel. No.: |
91-260-2400685 |
|
Fax No.: |
91-260-2424622 |
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E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ashok Kirtilal
Jhaveri |
|
Designation : |
Director |
|
Address : |
193/B, Heera Panna,
Bhulabhai Desai Road, Haji
Ali, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1953 |
|
Date of Appointment : |
22.08.1995 |
|
PAN No.: |
AACPJ4491N |
|
DIN No.: |
00187516 |
|
|
|
|
Name : |
Mr. Shailesh Jethmal
Sanghvi |
|
Designation : |
Director |
|
Address : |
801, Jogani Apartments, 29-B, Dongarshi Road, Walkeshwar,
Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
20.08.1968 |
|
Date of Appointment : |
22.08.1995 |
|
PAN No.: |
AAEPS1864N |
|
DIN No.: |
00194775 |
|
|
|
|
Name : |
Mr. Hasmukh Purshottam
Gandhi |
|
Designation : |
Director |
|
Address : |
Flat No. 82, Tower-A, Kalpataru Residency,
Opposite Cine Planet, Sion (East), Mumbai - 400022,
Maharashtra, India |
|
Date of Birth/Age : |
08.08.1951 |
|
Date of Appointment : |
14.04.2000 |
|
PAN No.: |
AEOPG8109A |
|
DIN No.: |
00193181 |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh Satghare
|
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Active Pharmaceutical Ingredients (APIs)
and Advanced Intermediates. |
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Products : |
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Exports : |
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Products : |
·
Active Pharmaceutical Ingredients (APIs) ·
Advanced Intermediates. |
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Countries : |
·
Japan ·
Pakistan ·
Turkey ·
USA ·
Europe |
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Imports : |
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Products : |
Raw Martial |
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Countries : |
·
China ·
Germany ·
USA |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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No. of Employees : |
350 (Approximately) |
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Bankers : |
· State Bank of India, Backbay Reclamation Branch, Raheja Chambres, Ground , Floor, Free Press Journal Marg, Nariman Point, Mumbai - 400021, Maharashtra, India · HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India · Canara Bank, Overseas Branch, Dalamal Tower, Nariman Point, Mumbai - 400021, Maharashtra, India |
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Facilities : |
Total Facilities Rs. 274.800 Millions (From State Bank of India) Total Facilities Rs. 1430.000 Millions (From HDFC Bank Limited)
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|
Banking
Relations : |
-- |
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|
|
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Auditors : |
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|
Name : |
Jain Ambavat and Associates Chartered Accountants |
|
Address : |
10, Cemox House 3rd Floor, 7 Barrack, Road, Opposite Bombay
Hospital, Mumbai – 400020, Maharashtra, India |
|
PAN No.: |
AAAFJ1780E |
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|
|
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Subsidiary Company : |
˛ Vaid Die Casting Private Limited |
|
|
|
|
Enterprises which are owned, or have significant influence
of or are partners with Key management personnel and their relatives : |
˛ Swastik Trading Company ˛ Fine Chemie ˛ Micro Fine Pharma Private Limited ˛ Mega Fine
Consultancy Services |
CAPITAL STRUCTURE
As on
30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1553445 |
Equity Shares |
Rs.10/- each |
Rs.15.534 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1620945 |
Equity Shares |
Rs.10/- each |
Rs.16.209 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
16.209 |
16.209 |
16.209 |
|
(b) Reserves & Surplus |
798.193 |
499.156 |
326.832 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
814.402 |
515.365 |
343.041 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
32.159 |
88.905 |
131.099 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
1.522 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
32.159 |
88.905 |
132.621 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
250.542 |
193.982 |
178.501 |
|
(b) Trade payables |
237.444 |
201.614 |
148.795 |
|
(c) Other current liabilities |
20.378 |
2.311 |
0.000 |
|
(d) Short-term provisions |
146.002 |
84.273 |
24.814 |
|
Total
Current Liabilities (4) |
654.366 |
482.180 |
352.110 |
|
|
|
|
|
|
TOTAL |
1500.927 |
1086.450 |
827.772 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
346.282 |
281.148 |
316.434 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
75.696 |
20.936 |
6.698 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
12.893 |
12.893 |
1.217 |
|
(c) Deferred tax assets (net) |
4.330 |
4.395 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
439.201 |
319.372 |
324.349 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
296.350 |
317.869 |
162.441 |
|
(c) Trade receivables |
486.397 |
281.137 |
242.365 |
|
(d) Cash and cash equivalents |
28.888 |
17.024 |
12.791 |
|
(e) Short-term loans and advances |
27.432 |
10.140 |
8.896 |
|
(f) Other current assets |
222.659 |
140.908 |
76.930 |
|
Total
Current Assets |
1061.726 |
767.078 |
503.423 |
|
|
|
|
|
|
TOTAL |
1500.927 |
1086.450 |
827.772 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1989.851 |
1430.308 |
944.950 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
543.957 |
361.311 |
164.945 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
26.464 |
38.510 |
33.840 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
517.493 |
322.801 |
131.105 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
67.842 |
68.986 |
67.835 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
449.651 |
247.898 |
59.507 |
|
|
|
|
|
|
|
|
|
|
TAX |
133.658 |
69.923 |
14.632 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
315.993 |
177.975 |
44.875 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
194.94 |
92.65 |
23.36 |
|
Expected Sales (2013-2014): Rs. 2000 Millions
The above information has been parted by Mr. Nilesh
Satghare
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
22.60
|
17.33 |
6.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
31.94
|
23.65 |
7.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.55
|
0.48 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.35
|
0.55 |
0.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62
|
1.59 |
1.43 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
16.209 |
16.209 |
16.209 |
|
Reserves & Surplus |
326.832 |
499.156 |
798.193 |
|
Net
worth |
343.041 |
515.365 |
814.402 |
|
|
|
|
|
|
long-term borrowings |
131.099 |
88.905 |
32.159 |
|
Short term borrowings |
178.501 |
193.982 |
250.542 |
|
Total
borrowings |
309.600 |
282.887 |
282.701 |
|
Debt/Equity
ratio |
0.903 |
0.549 |
0.347 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
944.950 |
1430.308 |
1989.851 |
|
|
|
51.363 |
39.120 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
944.950 |
1430.308 |
1989.851 |
|
Profit |
44.875 |
177.975 |
315.993 |
|
|
4.75% |
12.44% |
15.88% |
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current
Maturities of Long Term Debts is Not Available.
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
49.802 |
|
Other loans and advances |
0.020 |
0.000 |
|
|
|
|
|
Total |
0.020 |
49.802 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10350830 |
26/04/2012 |
140,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI -
400013, MAHARASHTRA, INDIA |
B37894151 |
|
2 |
10007239 |
02/03/2013 * |
600,300,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION BRANCH, RAHEJA CHAMBERS, GROUND FLOOR,FREE PRESS JOURNAL
MARG,NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B71713986 |
* Date of charge modification
FINANCIAL RESULT:
During the year
the company has made a net profit before tax of Rs.
449.651 millions as against a profit of Rs. 247.898
millions in the previous year.
FIXED ASSETS
œ
Land
œ
Buildings
œ Plant and Equipment
œ Furniture and Fixtures
œ Vehicles
œ Office Equipment
œ Computer Equipments
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.59.95 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.