MIRA INFORM REPORT

 

 

Report Date :

26.12.2014

 

IDENTIFICATION DETAILS

 

Name :

CHANDRA BHAGAT PHARMA PRIVATE LIMITED

 

 

Registered Office :

323-F, Bhagat Bhuvan, Dr. Ambedkar Road, Matunga (East), Mumbai – 400019, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

10.03.2003

 

 

Com. Reg. No.:

11-139534

 

 

Capital Investment / Paid-up Capital :

Rs. 4.180 Millions

 

 

CIN No.:

[Company Identification No.]

U24230MH2003PTC139534

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMC11692C

 

 

PAN No.:

[Permanent Account No.]

AACCC1056D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader, Exporter and Importer of Pharmaceutical Formulations. (Manufacturing to Jobwork).

 

 

No. of Employees :

200 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Maximum Credit Limits :

USD 171000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

The ratings reflect CBPPL’s modest scale of operations in the competitive pharmaceutical formulation space marked by thin profitability margins and stretched liquidity position of the company.

 

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

 

The company can be considered for business dealings 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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long term rating = BB-

Rating Explanation

Inadequate degree of safety and high credit risk.

Date

April 09, 2014

 

 

Rating Agency Name

CRISIL

Rating

Short term rating = A4+

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

April 09, 2014

 

 

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 :

Mr. Vishal 

Designation :

Accounts Department

Contact No.:

91-22-241447018/ 24164382

Date :

24.12.2014

 

 

LOCATIONS

 

Registered Office :

323-F, Bhagat Bhuvan, Dr. Ambedkar Road, Matunga (East), Mumbai – 400019, Maharashtra, India

Tel. No.:

91-22-24144701/ 24164382/  24170671/ 72/ 73/ 74

Fax No.:

91-22-24164397

E-Mail :

bdcointimations@gmail.com

cbcpharm@vsnl.com

cbcpharm@eth.net

Website :

http://www.cbcpharma.com

 

 

Warehouse / Godown 1 :

Dharam Complex, Phase -1, Bhoir Compound, Building No. D, Gala No. 1, Bhiwandi, Wal Village, Thane, Maharashtra, India

 

 

Warehouse / Godown 2 :

Unit No.3B, Ground Floor, O.K. Industrial Estate, Aacharya Donde Marg, Shivadi, Mumbai – 400015, Maharashtra, India

 

 

DIRECTORS

 

AS ON 20.09.2013

 

Name :

Mr. Pranav Hemant Bhagat

Designation :

Director

Address :

323-F, Bhagat Bhuvan, Dr. Ambedkar Road, Matunga (East), Mumbai – 400019, Maharashtra, India

Date of Birth/Age :

10.02.1985

Date of Appointment :

17.05.2004

DIN No.:

00156362

 

 

Name :

Mr. Hemant Chandravadan Bhagat

Designation :

Director

Address :

323-F, Bhagat Bhuvan, Dr. Ambedkar Road, Matunga (East), Mumbai – 400019, Maharashtra, India

Date of Birth/Age :

05.10.1961

Date of Appointment :

10.03.2003

DIN No.:

00233530

 

 

Name :

Mr. Bharatkumar Himmatlal Makati

Designation :

Director

Address :

A-404, Suryakiran Apartment, Sector 5, Ghansoli, Navi Mumbai – 400701, Maharashtra, India

Date of Birth/Age :

04.02.1959

Date of Appointment :

26.12.2012

DIN No.:

05316803

 

 

Name :

Mr. Shreekant Krishna Shetty

Designation :

Director

Address :

62-B, Vishram Tower, 1st Floor, Wagle Estate, Sector 9, Sreenagar, Thane (West), Thane – 400604, Maharashtra, India

Date of Birth/Age :

24.09.1965

Date of Appointment :

26.12.2012

DIN No.:

05317103

 

 

KEY EXECUTIVES

 

Name :

Mr. Vishal 

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 20.09.2013

 

Names of Shareholders

 

No. of Shares

 

Bhagat Chandravadan Padmaben

 

40000

Bhagat Chandravadan Mahesh

 

15000

Bhagat Chandravadan Hemant

 

142000

Bhagat Chhotelal Chandravadan

 

25000

Bhagat Hemant Chitra

 

15000

 

 

AS ON 14.11.2013

 

Names of Allottee

 

No. of Shares

 

Bhagat Chandravadan Mahesh

 

88000

 

 

 

Total

 

 

88000

 

 

AS ON 20.09.2013

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader, Exporter and Importer of Pharmaceutical Formulations. (Manufacturing to Jobwork).

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Pharmaceutical Formulations

Countries :

·         African Countries

·         Asian Countries

·         Middle East

 

 

Imports :

 

Products :

Raw Material

Countries :

·         China

·         Germany

·         Taiwan

·         Korea

·         Italy

 

 

Terms :

 

Selling :

Cash, Advance Payment, Cheque, Depend

 

 

Purchasing :

Cash, Advance Payment, Cheque, Depend

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

·         Anuradha Associates

·         Arch Marketing

·         All India Drug Supply Company

·         Amit Enterprises

·         Canon India Private Limited

·         Claris Lifesciences Limited

·         Dev Pharmaceuticals

·         Purav Poly Pack  

 

Reference :

Ketan Pharma Limited

Name of the Person :

Ms. Yogita (Collection Executive)

Contact No.:

91-22-26345353

Since How Long Known :

More than 10 Years

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour

Market Goodwill

Overall

Excellent

Excellent

Excellent

 

 

 

Remark:

They gave us positive response about the subject company, they are satisfied with their payment behavoiur.

 

 

Customers :

·         Anshu Agency

·         Mitco Pharmaceuticals

·         B.M. Pharmaceuticals

·         Khandelwal Associates

·         Plus Mark Pharma

·         Laxmi Health Agencies

·         Oxygen Pharma 

 

Reference :

Salwan Distributors

Name of the Person :

Mr. Atul (Partner)

Contact No.:

91-9017193837

Since How Long Known :

5 Years

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality

Delivery Behaviour

Overall

Good

Good

Good

 

 

 

Remark:

They gave us positive response about the subject company they are satisfied with their product quality and delivery behavior.

 

 

No. of Employees :

200 (Approximately)

 

 

Bankers :

, 309, Chandavarkar Road, Matunga (C. Rly.), Mumbai - 400019, Maharashtra, India

 

·         HDFC Bank Limited

·         Kotak Mahindra Bank Limited

·         Standard Chartered Bank

·         Union Bank of India

Bank Name

Bank of Baroda

Branch

Chandavarkar Road Branch

Person Name (With Designation)

Mr. Anna Malai (Manager)

Contact Number

91-22-24108410 / 24141699

Name of Account Holder

Chandra Bhagat Pharma Private Limited

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)
  • Cash Credit = Rs.120.000 Millions
  • L/C = Rs. 50.000 Millions

Account Operation

Good

Remarks (If any)

They gave us positive response about subject company they are satisfied with their banking transaction.

 

 

Facilities :

 

SECURED LOANS

31.03.2014

(Rs. In Millions)

31.03.2013

(Rs. In Millions)

SHORT TERM BORROWINGS

 

 

Loans Repayable on Demand

 

 

From Banks

Bank of Baroda

[Secured against Ray Road Godown and Hypothecation against stock and debtors]

NA

30.409

Bank of Baroda

[Secured against Bank FD]

NA

16.791

Local L.C. Liability

BDR Pharmaceuticals LC

NA

2.178

Car Loan from Bank secured against Car

NA

8.650

 

 

 

Total

 

NA

58.028

 

 

 

Banking Relations :

--

 

 

Financial Institution :

Bajaj Finance Limited

 

 

Auditors :

 

Name :

Bharat Desai and Company

Chartered Accountants

Address :

111, Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AAEPB2439E

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AFTER 20.09.2013

 

Authorised Capital : Rs. 5.000 Millions

 

Issued, Subscribed & Paid-up Capital : Rs. 4.180 Millions

 

 

AS ON 31.03.2014

 

Authorised Capital : Not Available  

 

Issued, Subscribed & Paid-up Capital : Rs. 4.180 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

4.180

2.500

2.500

(b) Reserves & Surplus

55.518

31.363

28.996

(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)

59.698

33.863

31.496

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

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

0.000

0.000

0.000

Total Non-current Liabilities (3)

0.000

0.000

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

185.805

114.344

106.759

(b) Trade payables

50.627

67.945

62.083

(c) Other current liabilities

20.114

26.512

24.031

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

256.546

208.801

192.873

 

 

 

 

TOTAL

316.244

242.664

224.369

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

10.221

10.748

11.445

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.050

(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)

1.041

1.204

2.128

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

11.262

11.952

13.623

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 0.000

0.000

0.000

(b) Inventories

154.084

103.412

76.122

(c) Trade receivables

85.693

86.995

82.410

(d) Cash and cash equivalents

38.602

33.137

32.352

(e) Short-term loans and advances

26.603

5.987

19.036

(f) Other current assets

0.000

1.181

0.826

Total Current Assets

304.982

230.712

210.746

 

 

 

 

TOTAL

316.244

242.664

224.369

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations

480.144

350.966

201.850

 

 

Other Income

6.367

1.946

1.939

 

 

TOTAL                                     (A)

486.511

352.912

203.789

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases of Stock-in-Trade

 399.091

270.298

137.057

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(50.672)

(27.290)

(10.967)

 

 

Employees benefits expense

51.267

47.876

33.983

 

 

Other expenses

62.218

40.222

28.264

 

 

TOTAL                                     (B)

461.904

331.106

188.337

 

 

 

 

 

Less

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

24.607

21.806

15.452

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

18.757

16.659

12.014

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

5.850

5.147

3.438

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

1.663

1.855

1.670

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX (E-F)                 (G)

4.187

3.292

1.768

 

 

 

 

 

Less

TAX                                                                  (H)

0.665

0.925

(2.259)

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX (G-H)                   (I)

3.522

2.367

4.027

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

8.00

9.00

16.11

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin
(PAT / Sales)

(%)

0.73

0.67

2.00

 

 

 

 

 

Operating Profit Margin
(PBIDT/Sales)

(%)

5.12

6.21

7.66

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.33

1.36

0.80

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.07

0.10

0.06

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

3.11

3.38

3.39

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.19

1.10

1.09

 

 

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

2.500

2.500

4.180

Reserves & Surplus

28.996

31.363

55.518

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

31.496

33.863

59.698

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

106.759

114.344

185.805

Total borrowings

106.759

114.344

185.805

Debt/Equity ratio

3.390

3.377

3.112

 

 

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

201.850

350.966

480.144

 

 

73.875

36.806

 

 

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

201.850

350.966

480.144

Profit

4.027

2.367

3.522

 

2.00%

0.67%

0.73%

 

 

 

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

No

17]

Major suppliers

Yes

18]

Major customers

Yes

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

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

CURRENT MATURITIES OF LONG TERM DEBT: NOT AVAILABLE

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10046547

14/08/2014 *

170,000,000.00

BANK OF BARODA

CHANDAVARKAR ROAD BRANCH,, 319, CHANDAVARKAR ROAD 
, MATUNGA (C.RLY.),, MUMBAI, MAHARASHTRA - 400019,  INDIA

C19065309

2

10013447

03/08/2006

6,000,000.00

BANK OF BARODA

CHANDAVARKAR ROAD BRANCH,, 309, CHANDAVARKAR ROAD 
, MATUNGA (EAST),, MUMBAI, MAHARASHTRA - 400019, I 
NDIA

A03211216

3

90146821

14/08/2014 *

173,500,000.00

BANK OF BARODA

CHANDAVARKAR ROAD BRANCH,, 319, CHANDAVARKAR ROAD 
, MATUNGA (C.RLY.),, MUMBAI, MAHARASHTRA - 400019, 
INDIA

C19065424

4

90148998

04/01/2005 *

21,000,000.00

BANK OF BARODA

CHANDAVARKAR ROAD BRANCH, MATUNGA (EAST), MUMBAI, 
MAHARASHTRA - 400019, INDIA

-

5

90148388

15/09/2003

1,000,000.00

BANK OF BARODA

CHANDAVARKAR ROAD BRANCH, MATUNGA (EAST), MUMBAI, 
MAHARASHTRA - 400019, INDIA

-

6

90149166

15/09/2003

10,000,000.00

BANK OF BARODA

CHANDAVARKAR ROAD BRANCH, MATUNGA (EAST), MUMBAI, 
MAHARASHTRA - 400019, INDIA

-

 

* Date of charge modification

 

 

UNSECURED LOANS

 

UNSECURED LOANS

31.03.2014

(Rs. In Millions)

31.03.2013

(Rs. In Millions)

SHORT TERM BORROWINGS

 

 

From Directors

NA

14.493

From Others

Bajaj Finance Limited

NA

1.220

From Related Parties

NA

40.603

 

 

 

Total

 

NA

56.316

 

 

 

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 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. 63.46

UK Pound

1

Rs. 98.51

Euro

1

Rs. 77.31

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTERS 

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

30

 

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

 

--

 

 

 

 

 

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