MIRA INFORM REPORT
|
Report Date : |
29.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HARMAN FINOCHEM
LIMITED |
|
|
|
|
Registered
Office : |
107-A, Vinay Bhavya Complex, 159 A, CST Road, Kalina, Santacruz
(East), Mumbai – 400098, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.03.1983 |
|
|
|
|
Com. Reg. No.: |
11-029560 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 47.636 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1983PLC029560 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH02931F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH3223J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Bulk Drugs and Pharmaceuticals. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 7748000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects healthy financial risk profile marked by adequate liquidity
position and decent profitability of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
SE 1A |
|
Rating Explanation |
High financial strength and highest
performance capability. |
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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-22-26528080)
LOCATIONS
|
Registered Office : |
107-A, Vinay Bhavya Complex, 159 A, CST Road, Kalina, Santacruz
(East), Mumbai – 400098, |
|
Tel. No.: |
91-22-26528080 / 67330100 |
|
Fax No.: |
91-22-26528285 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Bhupinder Singh Jagdev Singh Manhas |
|
Designation : |
Managing Director |
|
Address : |
107-A, Vinaya Bhavya Complex, 159-A, CST Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1950 |
|
Qualification : |
M.Sc. |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AAEPM3341C |
|
DIN No.: |
00121253 |
|
|
|
|
Name : |
Ms. Inderjit Kaur Bhupinder Singh Manhas |
|
Designation : |
Director |
|
Address : |
107-A, Vinaya Bhavya Complex, 159-A, CST Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India |
|
Date of Birth/Age : |
23.10.1951 |
|
Date of Appointment : |
11.02.1997 |
|
PAN No.: |
ADNPM5093K |
|
DIN No.: |
00121284 |
|
|
|
|
Name : |
Mr. Harpreet Singh Bhupinder Singh Minhas |
|
Designation : |
Director |
|
Address : |
107-A, Vinaya Bhavya Complex, 159-A, CST Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India |
|
Date of Birth/Age : |
02.09.1976 |
|
Qualification : |
MBA |
|
Date of Appointment : |
11.02.1997 |
|
PAN No.: |
AAEPM3340D |
|
DIN No.: |
00121336 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Bhupinder Singh Manhas |
1935690 |
40.64 |
|
Bhupinder Singh Manhas (HUF) |
118800 |
2.49 |
|
Harpreet Singh Manhas |
390195 |
8.19 |
|
Inderjeet Kaur Manhas |
1599855 |
33.58 |
|
Shyamsunder Shenoy |
30 |
0.00 |
|
Unnikrishnan Parakkat |
30 |
0.00 |
|
Wellworth Medicines Private Limited, |
690000 |
14.48 |
|
Kirti Mercantile Private Limited, |
29000 |
0.61 |
|
|
|
|
|
Total |
4763600 |
100.00 |
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
15.09 |
|
Directors or relatives of Directors |
84.90 |
|
Other |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Bulk Drugs and Pharmaceuticals. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· Allahabad Bank, Industrial Finance Branch, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K U Kothari and Company Chartered Accountants |
|
Address : |
A-1/205, Laram Centre, |
|
PAN No. : |
AALPK9123D |
|
|
|
|
Subsidiaries : |
· Well Worth Medicines Private Limited, India CIN No.: U24230MH1989PTC132889 · Satkar Holiday Resorts Limited, India CIN No.: U55101CH1987PLC007326 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4763600 |
Equity Shares |
Rs.10/- each |
Rs.47.636 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 |
47.636 |
47.636 |
47.636 |
|
(b) Reserves & Surplus |
1889.330 |
1447.884 |
1106.401 |
|
(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) |
1936.966 |
1495.520 |
1154.037 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
13.607 |
37.114 |
52.259 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
11.355 |
11.355 |
11.855 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
24.962 |
48.469 |
64.114 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
190.472 |
310.106 |
118.694 |
|
(c) Other
current liabilities |
18.449 |
9.732 |
9.857 |
|
(d) Short-term
provisions |
39.677 |
21.059 |
18.945 |
|
Total Current
Liabilities (4) |
248.598 |
340.897 |
147.496 |
|
|
|
|
|
|
TOTAL |
2210.526 |
1884.886 |
1365.647 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
869.930 |
822.243 |
687.129 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
133.218 |
6.460 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
216.156 |
206.023 |
100.292 |
|
(c) Deferred tax assets (net) |
9.124 |
9.668 |
9.028 |
|
(d) Long-term Loan and Advances |
87.451 |
68.745 |
46.517 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1315.879 |
1113.139 |
842.966 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
183.291 |
206.140 |
92.638 |
|
(c) Trade
receivables |
461.456 |
462.257 |
267.814 |
|
(d) Cash
and cash equivalents |
177.142 |
40.521 |
86.949 |
|
(e) Short-term
loans and advances |
72.758 |
62.829 |
75.280 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
894.647 |
771.747 |
522.681 |
|
|
|
|
|
|
TOTAL |
2210.526 |
1884.886 |
1365.647 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2643.044 |
1982.489 |
1367.745 |
|
|
|
Other Income |
81.241 |
103.940 |
42.671 |
|
|
|
TOTAL |
2724.285 |
2086.429 |
1410.416 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1294.700 |
979.214 |
641.063 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(2.522) |
10.115 |
(4.132) |
|
|
|
Employees benefits expense |
189.632 |
146.832 |
115.859 |
|
|
|
Other expenses |
345.954 |
285.693 |
212.465 |
|
|
|
TOTAL |
1827.764 |
1421.854 |
965.255 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
896.521 |
664.575 |
445.161 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
7.591 |
8.563 |
8.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
888.930 |
656.012 |
436.971 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
103.997 |
75.132 |
64.823 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
784.933 |
580.880 |
372.148 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
212.790 |
163.989 |
121.465 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
572.143 |
416.891 |
250.683 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
120.11 |
87.51 |
52.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
21.00 |
19.98 |
17.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
29.70 |
29.30 |
27.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
42.38 |
34.94 |
29.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.39 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.01 |
0.02 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.60 |
2.26 |
3.54 |
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 |
47.636 |
47.636 |
47.636 |
|
Reserves & Surplus |
1106.401 |
1447.884 |
1889.330 |
|
Net
worth |
1154.037 |
1495.520 |
1936.966 |
|
|
|
|
|
|
long-term borrowings |
52.259 |
37.114 |
13.607 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
52.259 |
37.114 |
13.607 |
|
Debt/Equity
ratio |
0.045 |
0.025 |
0.007 |
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 |
1367.745 |
1982.489 |
2643.044 |
|
|
|
44.946 |
33.319 |
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 |
1367.745 |
1982.489 |
2643.044 |
|
Profit |
250.683 |
416.891 |
572.143 |
|
|
18.33% |
21.03% |
21.65% |
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 |
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 |
|
|
|
Semi government bodies |
0.087 |
0.221 |
|
|
|
|
|
Total |
0.087 |
0.221 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90239691 |
10/08/2007 * |
90,000,000.00 |
Allahabad Bank |
Industrial Finance Branch, Mumbai Samachar Marg, Fort, Mumbai,
Maharashtra - 400023, INDIA |
A22166763 |
* Date of charge modification
FINANCIAL
OPERATIONS:
During the year company has rendered the effected sales to the tune of Rs. 2643.043 millions as against the previous year figure of Rs. 1982.489 millions The company has earned profit before taxation worth Rs.662.540 millions as against the previous year profit Rs. 514.043 millions.
FIXED ASSETS
œ Land
œ Buildings
œ Plant and Equipment
œ Furniture and Fixtures
œ Vehicles
œ Office Equipment
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.60.50 |
|
|
1 |
Rs.101.69 |
|
Euro |
1 |
Rs.83.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
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.