MIRA
INFORM REPORT
|
Report Date : |
15.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
CURETECH FORMULATIONS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Village Juddi Kalanjyothi Laboratories Baddi, District Solan – 171001, Himachal Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
29.08.2003 |
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Com. Reg. No.: |
06-026326 |
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Capital
Investment / Paid-up Capital : |
Rs.1.530 Millions |
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CIN No.: [Company Identification
No.] |
U24232HP2003PTC026326 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLC11393E |
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PAN No.: [Permanent Account No.] |
AACCC4441N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceutical Products Viz., Tablets and Capsules. |
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No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 360000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be healthy. Liquidity
position is good. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Deepak Sharma |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-9418907289 |
|
Date : |
12.02.2014 |
LOCATIONS
|
Registered Office / Factory : |
Village Juddi Kalanjyothi Laboratories Baddi,
District Solan – 171001, Himachal
Pradesh, India |
|
Tel. No.: |
91-1795-245716/717 |
|
Mobile No.: |
91-9418907289 (Mr. Deepak Sharma) |
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Fax No.: |
91-1795-245716 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sumit Kumar |
|
Designation : |
Director |
|
Address : |
14, Aman Colony, Near 22 No. Phatak, Patiala -147001, Punjab, India |
|
Date of Birth/Age : |
17.03.1978 |
|
Date of Appointment : |
01.08.2006 |
|
DIN No.: |
02817063 |
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|
|
|
Name : |
Mr. Ashwani Kumar |
|
Designation : |
Managing Director |
|
Address : |
14, Aman Colony, Near 22 No. Phatak, Patiala -147001, Punjab, India |
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Date of Birth/Age : |
29.09.1974 |
|
Date of Appointment : |
29.08.2003 |
|
DIN No.: |
01256240 |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Sharma |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Sumit Kumar |
73000 |
47.71 |
|
Ashwani Kumar |
79000 |
51.63 |
|
Rakesh Gupta |
1000 |
0.65 |
|
Total |
153000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
99.35 |
|
Directors or relatives of Directors |
0.65 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Products Viz., Tablets and Capsules. |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
|
Suppliers : |
Kshitij Pharmacia |
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Customers : |
Cipla Limited |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
Oriental Bank of Commerce, SSI Branch, Baddi - 173205, Himachal Pradesh, India |
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Facilities : |
Long Term Borrowings *Nature of securities Term loan from bank Term loan form
bank i.e. from Oriental Bank of Commerce is secured by equitable mortgage of
land and building admeasuring 4 Bigha bearing kh/kt. 8/8, Khasra No. 63,
situated at village Juddi Kalan, H.B. 210, Pargana Dharampura, baddi,
District Solan , Himanchal Pradesh, India Guarantee by directors or others: Term loan from
bank i.e. from Oriental Bank of Commerce is guaranteed personally by the directors
of the company i.e. Mr. Ashwani Kumar and Mr. Sumit Kumar Terms of repayment of term loan from
banks: Term loan from
bank i.e. Oriental Bank of Commerce with sanctioned amount Rs.10.000 Millions
and balance outstanding of Rs.3.482 Million as at the balance sheet date
along with pending disbursement of Rs.6.518 Millions is repayable in 60
equated monthly installments (EMIs) after 6 months from the date of first
disbursement i.e. 24.01.2013. Proportionate amount of repayment of principle
amount due with in next 12 months from the date of balance sheet amounted to
Rs.0.646 Millions (previous year Rs. Nil). Short Term Borrowings ** Nature of security Loan repayable on demand from bank (cash credit) is primarily secured by hypothecation of stock of raw material, stock in process and finished stock of medicines i.e. tablets, capsules and dry syrups and debtors and complete plant and machinery. The said loan is further secured by equitable mortgage of freehold land together with building, situated at Village Juddi Kalan. Tehsil Nalagarh. District Solan measuring 1 Bigha 10 Viswa in the name of the company. Guarantee by
directors Loan repayable on demand from bank (cash credit) with
sanctioned limit of Rs.8.000 Millions (previous year- Rs.8.000 Millions) is
further covered by personal guarantees of the directors of the company i.e. Mr. Ashwani Kumar and Mr. Sumit Kumar |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Jain and Anil Sood Chartered Accountants |
|
Address : |
S.C.O. - 12, Basement, Feroze Gandhi Market, Ludhiana – 141001,
Punjab, India |
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Tel. No.: |
91-1795-2773027 / 3919027 |
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PAN No.: |
AAAFJ8851A |
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|
Enterprises over which
key management personnel or relative of such personnel is able to exercise
significant influence : |
· Curetech Skincare · Ashirwad Printpack |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
160000 |
Equity Shares |
Rs.10/- each |
Rs.1.600 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
153000 |
Equity Shares |
Rs.10/- each |
Rs.1.530
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.530 |
1.530 |
1.530 |
|
(b) Reserves & Surplus |
88.463 |
77.835 |
67.768 |
|
(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) |
89.993 |
79.365 |
69.298 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.018 |
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) |
3.018 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6.181 |
2.836 |
3.766 |
|
(b) Trade payables |
40.755 |
21.568 |
17.881 |
|
(c) Other current
liabilities |
4.246 |
2.597 |
1.584 |
|
(d) Short-term provisions |
0.854 |
0.124 |
1.242 |
|
Total Current Liabilities (4) |
52.036 |
27.125 |
24.473 |
|
|
|
|
|
|
TOTAL |
145.047 |
106.490 |
93.771 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
32.254 |
32.349 |
24.765 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
9.020 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.249 |
0.025 |
0.025 |
|
(c) Deferred tax assets (net) |
0.761 |
0.491 |
0.000 |
|
(d) Long-term Loan and Advances |
13.114 |
9.649 |
6.488 |
|
(e) Other Non-current assets |
0.031 |
0.029 |
0.027 |
|
Total Non-Current Assets |
55.429 |
42.543 |
31.305 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
30.712 |
21.315 |
14.982 |
|
(c) Trade receivables |
40.834 |
32.521 |
43.385 |
|
(d) Cash and cash
equivalents |
12.828 |
4.882 |
1.671 |
|
(e) Short-term loans and
advances |
5.244 |
5.229 |
2.428 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
89.618 |
63.947 |
62.466 |
|
|
|
|
|
|
TOTAL |
145.047 |
106.490 |
93.771 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
193.488 |
141.242 |
123.747 |
|
|
|
Other Income |
0.327 |
0.052 |
0.021 |
|
|
|
TOTAL |
193.815 |
141.294 |
123.768 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
176.314 |
127.478 |
106.565 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
17.501 |
13.816 |
17.203 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
4.899 |
4.748 |
4.458 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
12.602 |
9.068 |
12.745 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.974 |
1.108 |
2.562 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
10.628 |
7.960 |
10.183 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
69.46 |
52.03 |
66.56 |
|
Expected Sales (2013-2014) : Rs.200.000 Millions
Above information has been parted by Mr. Deepak Sharma (Accounts
Executive).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.48 |
5.63 |
8.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.51 |
6.42 |
10.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.33 |
8.56 |
13.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.11 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10 |
0.04 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72 |
2.36 |
2.55 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
1.530 |
1.530 |
1.530 |
|
Reserves & Surplus |
67.768 |
77.835 |
88.463 |
|
Net worth |
69.298 |
79.365 |
89.993 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
3.018 |
|
Short term borrowings |
3.766 |
2.836 |
6.181 |
|
Total
borrowings |
3.766 |
2.836 |
9.199 |
|
Debt/Equity
ratio |
0.054 |
0.036 |
0.102 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
123.747 |
141.242 |
193.488 |
|
|
|
14.138 |
36.990 |
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
123.747 |
141.242 |
193.488 |
|
Profit |
10.183 |
7.960 |
10.628 |
|
|
8.23% |
5.64% |
5.49% |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans repayable
on demand from related parties |
0.315 |
0.315 |
|
Total |
0.315 |
0.315 |
REVIEW OF
OPERATIONS:
During the year the company has performed reasonably well. Revenue from operation
has increased from Rs.141.242 Millions during the financial year 2011-2012 to
rs.193.488 Millions during the financial year 2012-2013. The company has earned
profit before depreciation and tax of Rs.17.501 Millions during the financial
year 2012-2013 as against Rs.13.816 during the immediately preceding financial
year. Profit before tax for the year id Rs.12.602 as against Rs.9.068 Millions
during the immediately preceding financial year. Profit after tax for the year
is Rs.10.628 Milliona (previous year Rs.7.960 Millions). The company expects to
achieve higher turnover and profits in the current financial year.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10407091 |
24/01/2013 |
10,000,000.00 |
ORIENTAL BANK OF COMMERCE |
Sai Road, Baddi, Himachal
Pradesh - 173205, India |
B69217081 |
|
2 |
10253889 |
09/12/2010 |
3,000,000.00 |
DIRECTOR OF INDUSTRIES HIMACHAL
PRADESH ( SWCA) |
Single Window Clearance System
(Swca), Baddi, Himachal Pradesh - 173205, India |
B00678599 |
|
3 |
10062153 |
31/03/2011 * |
13,200,000.00 |
ORIENTAL BANK OF COMMERCE |
Sai Road, Baddi, Himachal
Pradesh - 173208, India |
B10674547 |
*Date of modification Charges
FIXED ASSETS:
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
51 |
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.