MIRA
INFORM REPORT
|
Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
VIFOR PHARMA PRIVATE LIMITED (w.e.f.14.05.2007) |
|
|
|
|
Formerly Known
As : |
VIFOR INDIA PRIVATE LIMITED LABORATORIES VIFOR (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 1, Udyog Nagar Estate, Goregaon (West), Mumbai - 400062,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.07.1967 |
|
|
|
|
Com. Reg. No.: |
11-013778 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 24.750
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1967PTC013778 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV09884A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV4180F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Products |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 830000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has incurred losses from its operational activities during
the financial year 2013. However, trade relations are fair. Business is active. Payment terms
are 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.
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a one-fourth
share in total jobs created, according to a study by industry lobby group
Assochem, Banks, real estate, automobile and telecommunications sectors are
showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-22-28753227)
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot No. 1, Udyog Nagar Estate, Goregaon (West), Mumbai - 400062,
Maharashtra, India |
|
Tel. No.: |
91-22-28742296/ 28749039/ 28753227/ 28749040 |
|
Fax No.: |
91-22-28749040 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Plot No. 55/56, Sector II, Kandla Special Economic Zone, Gandhidham,
Kutch – 370230, Gujarat, India |
|
Tel. No.: |
91-2836-252463/ 252206 |
|
Fax No.: |
91-2836-252854 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Naresh Navnitlal Shah |
|
Designation : |
Managing director |
|
Address : |
22, Purnima, 43, Ridge Road, Walkeshwar Road, Mumbai -
400006, Maharashtra, India |
|
Date of Birth/Age : |
19.05.1954 |
|
Date of Appointment : |
19.11.1981 |
|
DIN No.: |
00233014 |
|
|
|
|
Name : |
Mr. Bharat Kantilal Mehta |
|
Designation : |
Director |
|
Address : |
Flat E517, 5th Floor, Veena Sitar, Mahavir Nagar, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
16.07.1962 |
|
Date of Appointment : |
10.03.2012 |
|
DIN No.: |
05239629 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Naresh Navnitlal Shah J/w Jayshree N. Shah J/w Pushpa N. Shah |
|
57552 |
|
Naresh Navnitlal Shah J/w Pushpa N. Shah J/w Jayshree N. Shah |
|
35563 |
|
Jayshree Naresh Shah J/w Naresh N. Shah J/w Pushpa N. Shah |
|
11 |
|
Jesal Naresh Shah J/w Jayshree N. Shah J/w Naresh N. Shah |
|
11 |
|
Puja Shah J/w Jayshree N. Shah J/w Naresh N. Shah |
|
11 |
|
Priti Amitkumar Shah J/w Pushpa N. Shah J/w Naresh N. Shah |
|
8217 |
|
Sushma Amitkumar Sanghavi J/w Pushpa N. Shah J/w Naresh N. Shah |
|
8217 |
|
Bhavana Kamal Shah J/w Pushpa N. Shah J/w Naresh N. Shah |
|
8217 |
|
Pushpa N. Shah J/w Naresh N. Shah |
|
129701 |
|
|
|
|
|
Total |
|
247500 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Products |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
· Syndicate Bank Malad (West), Mumbai, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
A. B. Modi And Associates Chartered Accountants |
|
Address : |
207, Kshamalaya, 37, New Marine Lines, Mumbai – 400020,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFA2478L |
|
|
|
|
Related Party : |
CRL Terminals Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
247,500 |
Equity Shares |
Rs. 100/- each |
Rs. 24.750
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 |
24.750 |
24.750 |
24.750 |
|
(b) Reserves & Surplus |
183.114 |
222.521 |
254.393 |
|
(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) |
207.864 |
247.271 |
279.143 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
1.828 |
16.029 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
4.973 |
5.105 |
5.198 |
|
Total Non-current
Liabilities (3) |
4.973 |
6.933 |
21.227 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a)
Short term borrowings |
273.840 |
271.624 |
332.878 |
|
(b)
Trade payables |
18.108 |
23.102 |
29.949 |
|
(c)
Other current liabilities |
2.259 |
2.688 |
3.142 |
|
(d) Short-term
provisions |
4.505 |
3.304 |
5.110 |
|
Total Current
Liabilities (4) |
298.712 |
300.718 |
371.079 |
|
|
|
|
|
|
TOTAL |
511.549 |
554.922 |
671.449 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
242.058 |
279.270 |
319.099 |
|
(ii)
Intangible Assets |
0.506 |
0.701 |
0.164 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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) |
15.369 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.506 |
4.649 |
4.684 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
262.439 |
284.620 |
323.947 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.039 |
0.051 |
0.042 |
|
(b)
Inventories |
26.342 |
33.433 |
50.584 |
|
(c)
Trade receivables |
43.764 |
54.154 |
94.242 |
|
(d) Cash
and cash equivalents |
157.544 |
157.832 |
159.547 |
|
(e) Short-term
loans and advances |
21.421 |
24.832 |
43.087 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
249.110 |
270.302 |
347.502 |
|
|
|
|
|
|
TOTAL |
511.549 |
554.922 |
671.449 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
213.922 |
320.494 |
400.073 |
|
|
|
Other Income |
14.628 |
14.648 |
19.528 |
|
|
|
TOTAL |
228.550 |
335.142 |
419.601 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
285.161 |
381.236 |
410.063 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(56.611) |
(46.094) |
9.538 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(17.203) |
(14.223) |
3.309 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(39.408) |
(31.871) |
6.229 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
11.803 |
11.192 |
9.319 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
31.665 |
50.182 |
71.959 |
|
|
|
Stores & Spares |
0.000 |
0.000 |
0.247 |
|
|
TOTAL IMPORTS |
31.665 |
50.182 |
72.206 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(159.25) |
(128.86) |
25.34 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(17.24)
|
(9.51)
|
1.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(26.46)
|
(14.38)
|
2.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(11.41)
|
(8.31)
|
1.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.27)
|
(0.19)
|
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.32
|
1.10 |
1.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.83
|
0.90 |
0.94 |
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 |
24.750 |
24.750 |
24.750 |
|
Reserves & Surplus |
254.393 |
222.521 |
183.114 |
|
Net
worth |
279.143 |
247.271 |
207.864 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
332.878 |
271.624 |
273.840 |
|
Total
borrowings |
332.878 |
271.624 |
273.840 |
|
Debt/Equity
ratio |
1.192 |
1.098 |
1.317 |
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 |
400.073 |
320.494 |
213.922 |
|
|
|
(19.891) |
(33.252) |
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 |
400.073 |
320.494 |
213.922 |
|
Profit |
6.229 |
(31.871) |
(39.408) |
|
|
1.56% |
(9.94%) |
(18.42%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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] |
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 |
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 |
90384666 |
24/11/1999 |
1,485,000.00 |
BANK OF MAHARASHTRA |
NARAYAN PETH BRANCH, PUNE, MAHARASHTRA, INDIA |
- |
|
2 |
90378112 |
26/08/1997 |
20,000,000.00 |
THE NEDUNGADI BANK LIMITED |
MATUNGA BRANCH, MUMBAI, MAHARASHTRA, INDIA |
- |
|
3 |
90377952 |
25/09/1995 |
3,000,000.00 |
STATE BANK OF INDIA |
KURLA WEST, MUMBAI, MAHARASHTRA, INDIA |
- |
|
4 |
90184725 |
13/10/1982 |
7,784,000.00 |
SYNDICATE BANK |
ATUR HOUSE; 87; SR. A.B. ROAD, WORLI BRANCH, BOMBAY - 400018, MAHARASHTRA, INDIA |
- |
|
5 |
90184701 |
27/06/1982 |
2,500,000.00 |
SYNDICATE BANK |
ATUR HOUSE; 87; SR. A.B. ROAD, WORLI BRANCH, BOMBAY - 400018, MAHARASHTRA, INDIA |
- |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and
advances from related parties |
|
|
|
From Directors |
2.538 |
0.639 |
|
From Shareholders |
161.315 |
173.560 |
|
|
|
|
|
Total |
163.853 |
174.199 |
WORKING:
Due to severe competition in the market, the selling price of products
could not be increased. This has resulted into heavy losses to the Mumbai
Factory since a long time. Therefore it was decided to dispense with the
contractors supplying the contract workers and curtail the production at Mumbai
unit.
The Total Revenue of the company for the year decreased by about 30% as
compared to previous year. The Total Revenue for the year decreased to Rs.
228.600 Millions from Rs. 335.100 Millions.
FIXED ASSETS:
· Land
Building
Plant
and Machinery
Furniture
and Fixtures
Office
Equipments
Computers
Electrical
Equipments
Fax
Machines
Vehicles
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. 62.28 |
|
|
1 |
Rs. 103.67 |
|
Euro |
1 |
Rs. 85.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.