MIRA INFORM REPORT

 

 

Report Date :

02.12.2014

 

IDENTIFICATION DETAILS

 

Name :

DSM SINOCHEM PHARMACEUTICALS INDIA PRIVATE LIMITED (w.e.f. 10.04.2012)

 

 

Formerly Known As :

DSM ANTI INFECTIVES INDIA LIMITED

 

 

Registered Office :

Bhai Mohan Singh Nagar, Toansa, Tehsil Balachaur, District Nawanshahr, Ludhiana – 144533, Punjab

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

19.01.1993

 

 

Com. Reg. No.:

16-023090

 

 

Capital Investment / Paid-up Capital :

Rs. 1603.010 Millions

 

 

 

CIN No.:

[Company Identification No.]

U24231PB1993PTC023090

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

JLDD01636F

 

 

PAN No.:

[Permanent Account No.]

AABCM4314K

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Bulk Drugs and Intermediate Products.

 

 

No. of Employees :

25 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (34)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 6000000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having moderate track record.

 

The rating takes into consideration company’s averages operational risk profile marked by low reserves and declining in profit of the company during financial year 2014.

 

However, trade relations are fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for business dealing with some caution.

 

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)

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

 

N E W S

 

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

 

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

 

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

 

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

 

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

 

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

 

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

 

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

 

 

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 PARTED BY (GENERAL DETAILS)

 

Name :

Ms. Purnima

Designation :

Export Department

Contact No.:

91-22-40349100

Date :

02.12.2014

 

 

LOCATIONS

 

Registered Office/ Factory :

Bhai Mohan Singh Nagar, Toansa, Tehsil Balachaur, District Nawanshahr, Ludhiana – 144533, Punjab, India

Tel. No.:

91-1881-509650/ 273624/ 6

Fax No.:

91-1881-509890

E-Mail :

komal.gupta@dsm.com

anil.sharma@dsm.com

komal.gupta@dsm-sinochem.com

Website :

http://www.dsm-sinochem.com

Location:

Owned

Locality:

Commercial

 

 

Corporate/ Branch Office 1 :

9th Floor, Tower A, Infinity Towers, DLF Phase II Gurgaon – 122002, Haryana,  India

Tel. No.:

91-124-4179900

 

 

Branch Office 2 :

Plot No.E57 and E58, Additional MIDC, Anandnagar, Ambernath (East), Thane - 421501, Maharashtra, India

Tel. No.:

91-251-6484018

 

 

Branch Office 3 :

Windsor House, 401 Fourth Floor, CST Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India

Tel. No.:

91-22-40349100

 

 

Branch Office 4 :

401/402, 4th Floor, NSG IT Park, Aundh, Pune – 411007, Maharashtra, India

Tel. No.:

91-20-66430800

 

 

Branch Office 5 :

Plot No. F 40, Ranjangaon MIDC, Tal. Shirur, Ranjangaon – 412220, Maharashtra, India

 

 

Branch Office 6 :

Unit 3, 9th Floor, Building # 20 (Zenon), Sundew Properties Private Limited, IT and ITES - SEZ, K Raheja Mindspace IT Park, Hitech City, Madhapur, Hyderabad – 500081, Andhra Pradesh, India

Tel. No.:

91 40 4949 4000

 

 

Branch Office 7 :

Unit No 407, Barton Center, 4th Floor, No 84, MG Road, Bangalore – 560001, Karnataka, India

 

 

Branch Office 8 :

Global Axis, Plot No. 152, Gopalan Enterprises SEZ, EPIP Area, Bangalore – 560069, Karnataka, India

Tel. No.:

91-80-67255000

 

 

Branch Office 9 :

Plot No.: 1252, Road No. 14, Kalamboli Warehousing Company, Panvel, Raigad – 410218, Maharashtra, India

 

 

DIRECTORS

 

As on 26.09.2014

 

Name :

Mr. Vineet Kumar Singhal

Designation :

Whole-time director

Address :

Flat No. 1303, Tower 5, The Palms South City 1, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

20.11.1972

Qualifiaction :

CA, CS

Date of Appointment :

01.04.2014

PAN No.:

AIGPS2799L

DIN No.:

00552569

 

 

Name :

Bartholomeus Joannes Josephus Vincentius Welten

Designation :

Director

Address :

25 Oxley Walk #02-22 Belle Vue Residences Singapore 238595

Date of Birth/Age :

06.10.1960

Date of Appointment :

24.05.2013

DIN No.:

06615396

 

 

Name :

Mr. Vikas Mittal

Designation :

Director

Address :

H. No. 134, Old Housing Boaard Colony, Panipat – 132103, Haryana, India

Date of Birth/Age :

27.02.1977

Date of Appointment :

11.05.2012

DIN No.:

05286146

 

 

KEY EXECUTIVES

 

Name :

Ms. Purnima

Designation :

Export Department

 

 

Name :

Ms. Komal Sachin Gupta

Designation :

Secretary

Address :

F 102, Bestech Park View City II, Sohna Road, Near Omaxe Mall, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

25.03.1983

Date of Appointment :

30.04.2010

PAN No.:

BHAPS5283H

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 26.09.2014

 

Names of Shareholders

 

 

No. of Shares

Gist Brocades International, B.V, Netherlands

 

160300676

Pranesh Sridharan (held as nominee for Gist Brocades International, B.V, Netherlands)

 

5

Vineet Kumar Singhal (held as nominee for Gist Brocades International, B.V, Netherlands)

 

5

Gautam Aggarwal  (held as nominee for Gist Brocades International, B.V, Netherlands)

 

2

Somen Ganguly (held as nominee for Gist Brocades International, B.V, Netherlands)

 

2

Rajesh Salwan (held as nominee for Gist Brocades International, B.V, Netherlands)

 

2

Vikas Mittal (held as nominee for Gist Brocades International, B.V, Netherlands)

 

4

 

 

 

Total

 

160300696

 

 

As on 26.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

100.00

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Bulk Drugs and Intermediate Products.

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :
  • Finished Good

Countries :
  • Pakistan
  • Bangladesh
  • Sri Lanka
  • Israel

 

 

Imports :

 

Products :
  • Raw Material

Countries :
  • China
  • Egypt
  • Spain

 

 

Terms :

 

Selling :

L\C and Credit

 

 

Purchasing :

L\C and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Manufacturer

 

 

No. of Employees :

25 (Approximately)

 

 

Bankers :

Banker Name 1

City Bank

Branch Address

Gurgaon, Delhi, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

--

 

 

Banker Name 2

Citi Bank

Branch Address

Fort, Mumbai, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

--

 

 

Facilities :

(Rs. In Millions)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

Rupee term loans from banks

0.000

760.340

Term loans from others

89.450

0.000

Total

89.450

760.340

 

Auditors :

 

Name :

S. R. Batliboi and Company

Chartered Accountants

Address :

6Th Floor, Hindustan Times Building, 18-20 Kasturba Gandhi Marg, India

PAN No.:

ACHFS9180N

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding company:
  • Gist Brocades International B.V.

 

 

Ultimate Holding company:
  • DSM Sinochem Pharmaceuticals Limited, Hong Kong

 

 

Enterprises which

are owned, or have

significant influence

of or are partners

with Key

management

personnel and their

relatives:
  • DSM Sinochem Pharmaceuticals BV
  • Zhangjiakou Gist-Brocades Pharmaceuticals Company Limited, China (ZGB, China)
  • DSM Trading (Shanghai) Company Limited, Hongkong
  • DSM Finance, The Netherlands
  • DSM Food Specialties Products
  • DSM Nutritional Products, The Netherlands
  • DSM Nutritional Products, India
  • DSM Anti-Infectives, Egypt (DAI Egypt) S. A.E.
  • DSM Anti Infectives, Egypt L.L.C.
  • Zhangjiakou DHA Pharmaceutical Company Limited
  • DSM Expert Centre BV
  • DSM ZIBO Pharmaceuticals Company Limited
  • DSM Sourcing BV
  • DSM Pharmaceutical Products INC.
  • DSM New Business Development BV
  • ZJK DSM Hayao Pharma
  • Fersinsa GB, S.A.
  • DSM Innovation Center
  • DSM Business Support B.V.
  • DSM Nutritional Products, USA
  • DSM IT B.V.
  • DSM Biomedical
  • DSM Fine Chemicals, Austria
  • DSM Trading (Beijing) Company
  • DSM India Private Limited, India [U25209PN1998PTC014523]
  • DSM Services USA Inc.
  • DSM Desotech
  • DSM Sinochem Biochem Intermediate
  • DSM Innovative Synthese
  • Koninklijke DSM N.V.

 

 

Joint venture:
  • Hindustan Max-GB Limited, India [U24232PN1995PLC017954]

 

 

CAPITAL STRUCTURE

 

As on 26.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

170000000

Equity Shares

Rs.10/- each

Rs. 1700.000 Millions

 

 

 

 

 

Isued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

160300696

Equity Shares

Rs.10/- each

Rs. 1603.007 Millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

1603.010

1603.010

1603.010

(b) Reserves & Surplus

512.530

165.040

(395.170)

(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)

2115.540

1768.050

1207.840

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

540.540

835.390

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

462.940

0.000

0.000

Total Non-current Liabilities (3)

1003.480

835.390

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

89.450

760.340

572.830

(b) Trade payables

3634.410

2938.33

2453.090

(c) Other current liabilities

1330.760

95.260

903.150

(d) Short-term provisions

50.200

62.150

26.310

Total Current Liabilities (4)

5104.820

3856.08

3955.380

 

 

 

 

TOTAL

8223.840

6459.520

5163.220

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

935.560

1028.130

1087.610

(ii) Intangible Assets

0.000

0.000

0.500

(iii) Capital work-in-progress

611.330

11.030

27.620

(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)

183.130

0.000

0.000

(d)  Long-term Loan and Advances

251.000

71.570

39.390

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

1981.020

1110.730

1155.120

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

2355.400

1933.880

1222.590

(c) Trade receivables

2814.710

2868.900

2291.080

(d) Cash and cash equivalents

417.260

218.410

160.150

(e) Short-term loans and advances

627.380

312.020

323.290

(f) Other current assets

28.070

15.580

10.990

Total Current Assets

6242.820

5348.790

4008.100

 

 

 

 

TOTAL

8223.840

6459.520

5163.220

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

13554.920

11038.610

8241.930

 

 

Other Income

41.280

18.700

33.770

 

 

TOTAL                                    

13596.200

11057.310

8275.700

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

12950.100

10262.020

8155.410

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

646.100

795.290

120.290

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

40.040

91.280

90.700

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

606.060

704.010

29.590

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

127.380

133.890

133.150

 

 

 

 

 

 

PROFIT BEFORE TAX

478.680

570.120

(103.560)

 

 

 

 

 

Less

TAX                                                                 

131.180

15.810

(2.150)

 

 

 

 

 

 

PROFIT AFTER TAX

347.500

554.310

(101.410)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

7579.920

4566.330

3132.520

 

 

 

 

 

 

Earnings Per Share (Rs.)

2.18

3.46

(0.63)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

2.56

5.02

(1.23)

 

 

 

 

 

Operating Profit Margin

(PBDIT / Sales)

(%)

4.77

7.20

1.46

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.44

8.84

(2.02)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.23

0.32

-0.09

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.30

0.90

0.47

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.22

1.39

1.01

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

1603.010

1603.010

1603.010

Reserves & Surplus

(395.170)

165.040

512.530

Net worth

1207.840

1768.050

2115.540

 

 

 

 

long-term borrowings

0.000

835.390

540.540

Short term borrowings

572.830

760.340

89.450

Total borrowings

572.830

1595.730

629.990

Debt/Equity ratio

0.474

0.903

0.298

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

8241.930

11038.610

13554.920

 

 

33.932

22.796

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

8241.930

11038.610

13554.920

Profit

(101.410)

554.310

347.500

 

(1.23)%

5.02%

2.56%

 

 

 

 

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

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

No

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

No

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

Term loans from others

540.540

835.390

Total

540.540

835.390

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

 

FIXED ASSETS

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Leasehold improvements

 

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, India Prisons Service, Interpol, etc.

 

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 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. 61.13

UK Pound

1

Rs. 97.05

Euro

1

Rs. 77.36

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

KLS

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

3

--CREDIT LINES

1~10

4

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--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

 

34

 

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

 

--

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.