MIRA
INFORM REPORT
|
Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
MSD PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1544, Level 15, Eros Corporate Towers, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
03.012.2004 |
|
|
|
|
Com. Reg. No.: |
55-164459 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 131.950 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230DL2004PTC164459 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM1106C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer and Exporter of Pharmaceutical Products. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
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 an established company having moderate track record. There are accumulated losses recorded by the company which has eroded networth
of the company. Business is active. Payment terms are slow. The company can be considered for business dealing on a 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
.
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Rajesh Tendulkar |
|
Designation : |
AVP Finance Manager |
|
Contact No.: |
91-22-67898888 |
|
Date : |
22.08.2014 |
LOCATIONS
|
Registered Office : |
1544, Level 15, Eros Corporate Towers, Nehru Place, New Delhi –
110019, India |
|
Tel. No.: |
91-22-67898888 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
7th Floor, Vatika Towers Tower B, Sector - 54 Gurgoan – 122002,
Haryana, India |
|
Tel. No.: |
91-124-4647300 |
|
Fax No.: |
91-124-4375564 / 61 |
|
|
|
|
Central Warehouse: |
Gala No. 1, Building No. J-3, Arihant Corporation, Koper Village, Bhiwandi
– 421302, Maharashtra, India |
DIRECTORS
As on: 29.06.2013
|
Name : |
Mr. Krishnan Anantha K. G. |
|
Designation : |
Managing Director |
|
Address : |
Ixora 1001, Hiranandani Meadows, 2 Gladys Alvares Road, Thane (West), Thane
– 400610, Maharashtra, India |
|
Date of Birth/Age : |
10.02.1957 |
|
Date of Appointment : |
15.02.2010 |
|
PAN No.: |
ADJPA3867H |
|
DIN No.: |
00019325 |
|
|
|
|
Name : |
Mr. Vivek Vaudev Kamath |
|
Designation : |
Whole time director |
|
Address : |
201, Sterling Apartment, Dr. C G Road, Opposite Basant Theatre
Chembur, Mumbai – 400074, Maharashtra, India
|
|
Date of Birth/Age : |
06.11.1968 |
|
Date of Appointment : |
18.06.2013 |
|
DIN No.: |
06606777 |
|
|
|
|
Name : |
Mr. Sandeep Omprakash Sharma |
|
Designation : |
Director |
|
Address : |
29, Green Field Ave, Summit Nj, 07901-1417, United State of America |
|
Date of Birth/Age : |
29.09.1968 |
|
Date of Appointment : |
18.06.2013 |
|
DIN No.: |
06606251 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Krishan Seth |
|
Designation : |
Secretary |
|
Address : |
14/603, NRI Complex , Seawoods Estate, Sector 54,46,58, Nerul Navi
Mumbai – 400706, Maharashtra, India |
|
Date of Birth/Age : |
10.11.1971 |
|
Date of Appointment : |
25.10.2012 |
|
PAN No.: |
ARDPS6094G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Merck Sharp and Dohme BV, India |
|
13194999 |
|
MSD Finance BV, India |
|
1 |
|
|
|
|
|
Total |
|
13195000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.06.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Exporter of Pharmaceutical Products. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Goradia Himanshu Tribhovandas Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
AABFL5878L |
|
|
|
|
Holding Company: |
· Merck Sharp and Dohme BV, Netherlands |
|
|
|
|
Ultimate Holding
Company: |
· Merck and Company Inc., USA |
|
|
|
|
Fellow
Subsidiaries: |
· Fulford (India) Limited, India · Organon (India) Private Limited, India · Merck Sharp and Dohme (Asia) Limited, Hong Kong · Merck Sharp and Dohme Asia Pacific Services Pte Limited, Singapore · Merck Sharp and Dohme (I.A) Corp., Philippines Branch, Philippines · Merck Sharp and Dohme International Services BV, Netherlands · MSD International GMBH, Singapore (formerly MSD Technology Pte. Limited) · MSD SUN FZ LLC, Dubai · MSD (PTY) Limited, South Africa · MSD Human Health Holdings BV, Netherlands · MSD Canada Inc., Canada · MSD (Shanghai) Pharm Consultancy Company Limited, China · Merck Sharp and Dohme (Australia) Pty Limited, Australia · P.T. Schering Plough Indonesia TBK, Indonesia SOL Limited (Singapore Branch), Singapore |
CAPITAL STRUCTURE
As on: 29.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13195000 |
Equity Shares |
Rs.10/- each |
Rs. 131.950
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
131.950 |
131.950 |
|
(b) Reserves & Surplus |
|
(1070.950) |
(232.728) |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
(939.000) |
(100.778) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
7.579 |
4.328 |
|
(d) long-term
provisions |
|
85.996 |
47.978 |
|
Total Non-current
Liabilities (3) |
|
93.575 |
52.306 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1000.000 |
0.000 |
|
(b)
Trade payables |
|
1366.848 |
988.741 |
|
(c)
Other current liabilities |
|
201.176 |
100.589 |
|
(d) Short-term
provisions |
|
38.180 |
8.616 |
|
Total Current
Liabilities (4) |
|
2606.204 |
1097.946 |
|
|
|
|
|
|
TOTAL |
|
1760.779 |
1049.474 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
70.862 |
94.003 |
|
(ii)
Intangible Assets |
|
2.211 |
2.976 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
129.962 |
125.617 |
|
(e) Other
Non-current assets |
|
1.328 |
0.942 |
|
Total Non-Current
Assets |
|
204.363 |
223.538 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
684.108 |
464.745 |
|
(c)
Trade receivables |
|
463.956 |
152.850 |
|
(d) Cash
and cash equivalents |
|
335.360 |
123.416 |
|
(e) Short-term
loans and advances |
|
53.706 |
46.017 |
|
(f)
Other current assets |
|
19.286 |
38.908 |
|
Total
Current Assets |
|
1556.416 |
825.936 |
|
|
|
|
|
|
TOTAL |
|
1760.779 |
1049.474 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
131.950 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
8.036 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
139.986 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
139.986 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
101.099 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
42.414 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
312.845 |
|
|
Sundry Debtors |
|
|
314.529 |
|
|
Cash & Bank Balances |
|
|
64.393 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
138.099 |
|
Total
Current Assets |
|
|
829.866 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
715.268 |
|
|
Other Current Liabilities |
|
|
55.328 |
|
|
Provisions |
|
|
62.797 |
|
Total
Current Liabilities |
|
|
833.393 |
|
|
Net Current Assets |
|
|
(3.527) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
139.986 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4014.838 |
2724.049 |
1917.240 |
|
|
|
Other Income |
16.796 |
914.576 |
NA |
|
|
|
TOTAL |
4031.634 |
3638.625 |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(838.000) |
(198.520) |
24.900 |
|
|
|
|
|
|
|
|
|
|
TAX |
(0.130) |
42.240 |
5.830 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER TAX |
(838.000) |
(240.760) |
19.070 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(232.720) |
8.040 |
11.030 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1070.720) |
(232.720) |
8.040 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
(81.15) |
(17.63) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
(20.79) |
(6.62) |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(20.87) |
(7.29) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(47.59) |
(18.92) |
2.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.89 |
1.97 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(1.06) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.60 |
0.75 |
0.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
131.950 |
131.950 |
|
Reserves & Surplus |
(232.728) |
(1070.950) |
|
Net worth |
(100.778) |
(939.000) |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
1000.000 |
|
Total borrowings |
0.000 |
1000.000 |
|
Debt/Equity ratio |
0.000 |
(1.065) |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 |
31.12.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
2724.049 |
4014.838 |
|
|
0.000 |
47.385 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 |
31.12.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
2724.049 |
4014.838 |
|
Profit |
(240.760) |
(838.000) |
|
|
(8.84)% |
(20.87)% |
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 |
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 |
No |
|
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] |
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 |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.12.2012 |
As on 31.12.2011 |
|
SHORT TERM
BORROWINGS |
|
|
|
Intercorporate deposits |
1000.000 |
0.000 |
|
|
|
|
|
Total |
1000.000 |
0.000 |
OPERATIONAL
PERFORMANCE
During the year under report, the Company earned total income of Rs. 4031.634 millions divided in to Net Sales of Rs. 4014.838 millions and other income of Rs. 16.796 millions, as against the total income of Rs. 3638.625 millions divided into Net Sales of Rs. 2724.049 millions and other income Rs. 914.576 millions during the previous year.
After charging all expenses the Company incurred a loss of Rs. 838.222 millions as compared to the previous year’s loss of Rs. 240.763 millions.
Note: No Charges Exist for Company
FIXED ASSETS
· Plant and equipment
· Furniture and fixtures
· Office equipment
· Computer equipment’s
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. 60.43 |
|
|
1 |
Rs. 100.24 |
|
Euro |
1 |
Rs. 80.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
13 |
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.