MIRA INFORM REPORT
|
Report Date : |
21.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HIRANANDANI HEALTHCARE
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Mini Seashore Road, Sector-10A,
Plot No.28, Vashi, Navi Mumbai – 400 703, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.07.2005 |
|
|
|
|
Com. Reg. No.: |
11-154823 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.40.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85100MH2005PTC154823 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH5894D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the
business of maintaining and managing clinical reference laboratories, to
provide testing and diagnostics on human beings, in the field of both
pathology and radiology. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
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 |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Fortis Healthcare Limited”. It is an
established company having moderate track record. The company has incurred huge accumulated losses which has eroded
networth of the company. Liquidity position of the company is under pressure.
Business is active. Payment terms are slow. The company can be considered for business dealings on safe and
secured 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 DECLINED BY
|
Name : |
Mr. Amol Dattatray |
|
Designation : |
Pharmacy Head |
|
Contact No.: |
91-22-39199222 |
|
Date : |
18.04.2014 |
LOCATIONS
|
Registered Office : |
Mini Seashore Road,
Sector-10A, Plot No.28, Vashi, Navi Mumbai – 400 703, Maharashtra, India |
|
Tel. No.: |
91-22-39199222 |
|
Fax No.: |
91-22-27663400/ 39199220/ 21 |
|
E-Mail : |
DIRECTORS
AS ON 17.09.2013
|
Name : |
Mr. Ashish Bhatia |
|
Designation : |
Director |
|
Address : |
H.No.73, Sector-9A, Chandigarh – 160 009, India |
|
Date of Birth/Age : |
14.04.1962 |
|
Date of Appointment : |
03.02.2012 |
|
DIN No.: |
01845421 |
|
|
|
|
Name : |
Mr. Manpreet Singh Sohal |
|
Designation : |
Director |
|
Address : |
A-1601, Neel Sidhi Towers, Sector-12, Vashi, Navi Mumbai – 400 703,
Maharashtra, India |
|
Date of Birth/Age : |
08.08.1966 |
|
Date of Appointment : |
28.12.2010 |
|
DIN No.: |
03377181 |
|
|
|
|
Name : |
Manu Kapila |
|
Designation : |
Director |
|
Address : |
H.No.147, Sector 21-A, Chandigarh – 160 022, India |
|
Date of Birth/Age : |
12.12.1971 |
|
Date of Appointment : |
18.08.2011 |
|
DIN No.: |
03403696 |
|
|
|
|
Name : |
Mr. Varun Shadilal Khanna |
|
Designation : |
Director |
|
Address : |
A-12, Shubham Apartments, Juhu Versova Link Road, Andheri (West),
Mumbai – 400 053, Maharashtra, India |
|
Date of Birth/Age : |
12.03.1975 |
|
Date of Appointment : |
18.08.2011 |
|
DIN No.: |
03584124 |
|
|
|
|
Name : |
Dr. Ratnadeep Chaskar |
|
Designation : |
Director |
|
Address : |
15/4, Film Colony, Near S.P. Office, Indore – 452 001, Madhya Pradesh,
India |
|
Date of Birth/Age : |
24.06.1971 |
|
Date of Appointment : |
13.09.2011 |
|
DIN No.: |
03614563 |
|
|
|
|
Name : |
Mr. Sandeep Puri |
|
Designation : |
Director |
|
Address : |
S-309, Panchshila Park, New Delhi – 110 017, India |
|
Date of Birth/Age : |
21.02.1962 |
|
Date of Appointment : |
01.12.2012 |
|
DIN No.: |
05345943 |
KEY EXECUTIVES
|
Name : |
Mr. Amol Dattatray |
|
Designation : |
Pharmacy Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 17.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Fortis Healthcare Holdings Private Limited, India |
|
599998 |
|
Fortis Healthcare Limited, India |
|
3399997 |
|
Hemant Dhingra (Held as a nominee of Fortis Healthcare Holdings
Private Limited) |
|
1 |
|
Shivinder Mohan Singh jointly with Fortis Healthcare Limited |
|
1 |
|
Malvinder Mohan Singh jointly with Fortis Healthcare Limited |
|
1 |
|
Pankaj Gulati (Held as a nominee of Fortis Healthcare Holdings Private
Limited) |
|
1 |
|
Daljit Singh jointly with Fortis Healthcare Limited |
|
1 |
|
Total
|
|
4000000 |
AS ON 17.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the
business of maintaining and managing clinical reference laboratories, to provide
testing and diagnostics on human beings, in the field of both pathology and
radiology. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
HDFC Bank Limited, HDFC Bank
House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013,
Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.V. Ghatalia and
Associates LLP Chartered Accountants |
|
Address : |
Golf View Corporate
Tower-B, Sector-42, Sector Road, Gurgaon – 122 002, Haryana, India |
|
PAN No.: |
ACHFS9181P |
|
|
|
|
Holding Company: |
|
|
|
|
|
Ultimate Holding Company: |
|
|
|
|
|
Fellow Subsidiary Companies: |
|
CAPITAL STRUCTURE
AS ON 17.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4800000 |
Equity Shares |
Rs.10/- each |
Rs.48.000 millions |
|
200000 |
Preference Shares |
Rs.10/- each |
Rs.2.000 millions |
|
|
Total |
|
Rs.50.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 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 |
40.000 |
40.000 |
12.000 |
|
(b) Reserves & Surplus |
(283.588) |
(308.954) |
(510.646) |
|
(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) |
(243.588) |
(268.954) |
(498.646) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
862.634 |
519.579 |
582.691 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
8.520 |
6.145 |
0.000 |
|
(d)
Long-term provisions |
2.628 |
1.947 |
1.672 |
|
Total
Non-current Liabilities (3) |
873.782 |
527.671 |
584.363 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
341.900 |
267.767 |
|
(b)
Trade payables |
95.427 |
102.176 |
81.692 |
|
(c)
Other current liabilities |
125.017 |
113.369 |
321.469 |
|
(d)
Short-term provisions |
3.057 |
3.064 |
1.861 |
|
Total
Current Liabilities (4) |
223.501 |
560.509 |
672.789 |
|
|
|
|
|
|
TOTAL |
853.695 |
819.226 |
758.506 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
626.952 |
648.115 |
657.691 |
|
(ii)
Intangible Assets |
2.516 |
1.544 |
1.957 |
|
(iii)
Capital work-in-progress |
0.000 |
0.255 |
4.150 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
52.623 |
31.857 |
7.059 |
|
(e)
Other Non-current assets |
1.645 |
1.393 |
10.248 |
|
Total
Non-Current Assets |
683.736 |
683.164 |
681.105 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
14.384 |
16.257 |
15.737 |
|
(c)
Trade receivables |
105.580 |
88.499 |
39.988 |
|
(d)
Cash and cash equivalents |
20.072 |
7.279 |
2.273 |
|
(e)
Short-term loans and advances |
16.549 |
9.369 |
8.992 |
|
(f)
Other current assets |
13.374 |
14.658 |
10.411 |
|
Total
Current Assets |
169.959 |
136.062 |
77.401 |
|
|
|
|
|
|
TOTAL |
853.695 |
819.226 |
758.506 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
901.063 |
703.602 |
437.134 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
901.063 |
703.602 |
437.134 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
761.529 |
644.827 |
445.322 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
761.529 |
644.827 |
445.322 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
139.534 |
58.775 |
(8.188) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
78.786 |
77.394 |
78.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
60.748 |
(18.619) |
(86.318) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
35.382 |
34.193 |
38.561 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
25.366 |
(52.812) |
(124.879) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
25.366 |
(52.812) |
(124.879) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.34 |
(13.20) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.82
|
(7.51) |
(28.57) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.97
|
(6.45) |
(16.55) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.10)
|
0.20 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(3.54)
|
(3.20) |
(1.71) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.76
|
0.24 |
0.12 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
12.000 |
40.000 |
40.000 |
|
Reserves & Surplus |
(510.646) |
(308.954) |
(283.588) |
|
Net worth |
(498.646) |
(268.954) |
(243.588) |
|
|
|
|
|
|
Long-term borrowings |
582.691 |
519.579 |
862.634 |
|
Short term borrowings |
267.767 |
341.900 |
0.000 |
|
Total borrowings |
850.458 |
861.479 |
862.634 |
|
Debt/Equity ratio |
(1.706) |
(3.203) |
(3.541) |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
437.134 |
703.602 |
901.063 |
|
|
|
60.958 |
28.064 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
437.134 |
703.602 |
901.063 |
|
Profit |
(124.879) |
(52.812) |
25.366 |
|
|
(28.57%) |
(7.51%) |
2.82% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10481589 |
10/02/2014 |
405,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B98069446 |
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Fully convertible debentures others |
341.000 |
341.000 |
|
Loans and advances from others |
420.334 |
0.000 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans and advances from others |
0.000 |
341.900 |
|
Total
|
761.334 |
682.900 |
Note:
The registered office of the company has been shifted from 113, MIDC, 15th Street, Andheri (East), Mumbai – 400 093 to the present address w.e.f. 01.12.2008.
CORPORATE INFORMATION:
The company was
incorporated in the year 2005 to set up, manage and operate a multi-specialty
hospital at Navi Mumbai and commenced its commercial operations with effect
from December 30, 2008.
FINANCIAL HIGHLIGHTS
During the year, the
Company posted the revenue of Rs.901.063 millions as compared to last years’
revenue of Rs.703.602 millions and the operating profit of the company for the
current year is Rs.139.534 millions as compared to Rs.58.775 millions operating
profit in the previous year.
HOLDING AND SUBSIDIARY
COMPANY
During
the year, the Company continues to be the subsidiary of Fortis Healthcare
Limited which holds 3400000 Equity shares, 85% of the Equity holding of the
Company and Fortis Healthcare Holdings Private Limited holds 600000 Equity
shares, 15% of the equity holding.
Further,
the company does not have any Subsidiary Company.
FIXED ASSETS:
Tangible
Assets
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
Intangible
Assets
·
Computer Software
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.60.38 |
|
UK Pound |
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
18 |
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.