MIRA
INFORM REPORT
|
Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SRS PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
602, Marathon Max, Building No.2, Mulund – |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
27.03.2001 |
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Com. Reg. No.: |
11-131384 |
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Capital Investment
/ Paid-up Capital : |
Rs.50.000 Millions |
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CIN No.: [Company Identification
No.] |
U24239MH2001PTC131384 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS37452C |
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PAN No.: [Permanent Account No.] |
AAFCS4633P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is involved in
manufacture and supply of wide range of avant-garde pharmaceuticals. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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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 levels 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.
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
31-03-20124
INFORMATION DENIED BY
|
Name : |
Mr. Jayant |
|
Designation : |
Admin Account |
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Contact No.: |
91-22-41577000 |
|
Date : |
03.12.2014 |
LOCATIONS
|
Registered Office : |
602, Marathon Max, Building No.2, Mulund – Goregaon Link Road, L.B.S. Marg,
Mulund (West), Mumbai – 400 080, Maharashtra, India |
|
Tel. No.: |
91-22-24961002/ 41577034/
24961001/ 2/ 3/ 22631319/ 22679539/ 41577000 |
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Fax No.: |
91-22-41577099/ 41577000/ 24961004 |
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E-Mail : |
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Website : |
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Corporate Headquarters : |
Office No.601, 6th Floor, Marathon Max, Building No.2, Mulund – Goregaon Link Road,
L.B.S. Marg, Mulund
(West), Mumbai – 400 080, Maharashtra, India |
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Global Operations : |
Located at: ·
North
America ·
CIS
·
Russia · Latin America ·
Africa
· Asia |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Suchet Shyamsunder
Rastogi |
|
Designation : |
Director |
|
Address : |
B-2202, 22nd Floor, Beau Monde, Old Standard Mill Compound,
Prabhadevi, Mumbai – 400 025, Maharashtra,
India |
|
Date of Birth/Age : |
11.05.1977 |
|
Date of Appointment : |
27.03.2001 |
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PAN No.: |
ADMPR6527J |
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DIN No.: |
01161072 |
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|
Name : |
Mahika Suchet Rastogi |
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Designation : |
Director |
|
Address : |
B-2202, 22nd Floor, Beau Monde, Old Standard Mill Compound,
Prabhadevi, Mumbai – 400 025, Maharashtra,
India |
|
Date of Birth/Age : |
24.02.1978 |
|
Date of Appointment : |
01.01.2013 |
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PAN No.: |
ALEPK9173B |
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DIN No.: |
02019780 |
KEY EXECUTIVES
|
Name : |
Mr. Jaywant |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Suchet Shyamsunder Rastogi |
4950000 |
99.00 |
|
Mahika Suchet Rastogi |
50000 |
1.00 |
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Total
|
5000000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is involved in
manufacture and supply of wide range of avant-garde pharmaceuticals. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
·
HDFC Bank Limited ·
Standard Chartered Bank, SME Credit, 23-25, M.G.
Road, Fort , Mumbai – 400 001, Maharashtra, India |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
M.
Sheth and Company Chartered Accountants |
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Address : |
44/C, Motiwala
Building, Second Floor, A-Building, Proctor Road, Grant Road (East), Mumbai –
400 007, Maharashtra, India |
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PAN No.: |
ADUPS7769R |
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Subsidiary Companies : |
·
Clesstra Healthcare Private Limited, India (CIN
No.: U24230MH2005PTC151176) ·
SRS Unistraw Private Limited, India (CIN
No.: U24110MH2005PTC151175) ·
Unitex Tenamyd Canada
Private Limited, India (CIN No.: U24239MH2006PTC162913) ·
Yeva Therapeutics Private Limited, India (CIN
No.: U85191MH2006PTC161490) |
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Associates : |
·
Immacule Lifesciences
Private Limited, India (CIN No.:
U74900HP2010PTC031676) |
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Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
·
Unistraw Holding Pte. Limited, Australia ·
Puerto Rico Pharmaceutical Private Limited, India (CIN No.:
U24233MH2011PTC223522) |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each
|
Rs.50.000 millions |
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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 |
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|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
227.170 |
162.589 |
112.935 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
277.170 |
212.589 |
162.935 |
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|
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(3) Non-Current
Liabilities |
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(a) Long-term borrowings |
87.849 |
89.904 |
78.301 |
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(b) Deferred tax liabilities (Net) |
3.031 |
2.502 |
2.034 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.945 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
90.880 |
92.406 |
81.280 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
71.097 |
45.555 |
60.850 |
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(b)
Trade payables |
114.960 |
63.825 |
46.993 |
|
(c)
Other current liabilities |
4.855 |
6.206 |
3.485 |
|
(d) Short-term
provisions |
10.726 |
2.770 |
44.064 |
|
Total Current
Liabilities (4) |
201.638 |
118.356 |
155.392 |
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|
|
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TOTAL |
569.688 |
423.351 |
399.607 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
194.055 |
193.646 |
185.125 |
|
(ii)
Intangible Assets |
0.493 |
0.822 |
0.000 |
|
(iii) Capital
work-in-progress |
17.821 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
83.772 |
5.906 |
20.549 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.935 |
|
(e) Other
Non-current assets |
17.528 |
0.642 |
0.000 |
|
Total Non-Current
Assets |
313.669 |
201.016 |
206.609 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
123.968 |
67.381 |
17.252 |
|
(c)
Trade receivables |
75.802 |
62.790 |
114.786 |
|
(d) Cash
and cash equivalents |
1.036 |
0.864 |
2.047 |
|
(e)
Short-term loans and advances |
17.468 |
67.760 |
0.000 |
|
(f)
Other current assets |
37.745 |
23.540 |
58.913 |
|
Total
Current Assets |
256.019 |
222.335 |
192.998 |
|
|
|
|
|
|
TOTAL |
569.688 |
423.351 |
399.607 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
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SALES |
|
|
|
|
|
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Income |
639.613 |
492.580 |
447.610 |
|
|
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Other Income |
NA |
NA |
NA |
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TOTAL (A) |
NA |
NA |
NA |
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|
Less |
EXPENSES |
|
|
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|
|
|
|
Office Expenses |
|
NA |
NA |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
NA |
NA |
NA |
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|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
124.294 |
97.064 |
89.232 |
|
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|
Less |
FINANCIAL
EXPENSES (D) |
12.164 |
10.057 |
7.190 |
|
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
112.130 |
87.007 |
82.042 |
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.233 |
13.688 |
14.239 |
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|
|
|
|
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|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
95.897 |
73.319 |
67.803 |
|
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|
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|
|
|
|
Less |
TAX (H) |
31.317 |
23.665 |
22.075 |
|
|
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|
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|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
64.580 |
49.654 |
45.728 |
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|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
162.589 |
112.935 |
67.207 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
227.169 |
162.589 |
112.935 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
12.92 |
9.93 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
14.99 |
14.88 |
15.15 |
|
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.49 |
17.56 |
17.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.34 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.57 |
0.64 |
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.88 |
1.24 |
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 |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
112.935 |
162.589 |
227.170 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
162.935 |
212.589 |
277.170 |
|
|
|
|
|
|
Long-term borrowings |
78.301 |
89.904 |
87.849 |
|
Short term borrowings |
60.850 |
45.555 |
71.097 |
|
Total borrowings |
139.151 |
135.459 |
158.946 |
|
Debt/Equity ratio |
0.854 |
0.637 |
0.573 |
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) |
|
Sales |
447.610 |
492.580 |
639.613 |
|
|
|
10.047 |
29.850 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
447.610 |
492.580 |
639.613 |
|
Profit |
45.728 |
49.654 |
64.580 |
|
|
10.22% |
10.08% |
10.10% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
31.03.2011 (Rs. In Millions) |
|
Current Maturities of Long Term Debts |
2.055 |
2.419 |
NA |
|
|
|
|
|
|
Total |
2.055 |
2.419 |
NA |
|
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10191724 |
15/12/2009 |
80,000,000.00 |
STANDARD CHARTERED BANK |
STANDARD CHARTERED TOWER,
201, B/1, WESTERN EXPRESS HIGHWAY, GOREGAON (EAST), MUMBAI, MAHARASHTRA -
400063, INDIA |
A74848235 |
|
2 |
90149601 |
29/04/2011 * |
80,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, 23-25, M.G.
ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B14567762 |
|
3 |
90143933 |
24/05/2002 |
6,000,000.00 |
DEVELOPMENT CREDIT BANK
LIMITED |
NARIMAN POINT BRANCH,
MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
Particulars |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
10.536 |
0.404 |
|
Total
|
10.536 |
0.404 |
OPERATIONS:
During this year of operations
the Company has achieved a total sales of Rs.639.613 millions and net profit
after tax of Rs.64.580 millions as compared to sales of Rs.492.580 millions and
net profit after tax of Rs.49.654 millions last year. There has been a good
sales turnover during the year of operations and the company could make a
healthy Profit after Tax in the year of operation itself. The directors are
confident of posting a better result in the future years.
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.61.87 |
|
|
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.