MIRA
INFORM REPORT
|
Report Date : |
06.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
ERIS LIFESCIENCES PRIVATE LIMITED (w.e.f. 09.02.2007) |
|
|
|
|
Formerly Known
As : |
ERIS LIFESCIENCE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
21, New York
Tower - A, Near Muktidham Temple, Thaltej Cross Road, Thaltej , Ahmedabad –
380 054, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.01.2007 |
|
|
|
|
Com. Reg. No.: |
04-049867 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.375
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232GJ2007PTC049867 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCE7067M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Pharmaceutical Products. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2748000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having a satisfactory track record. Overall financial
position of the company appears to be strong. Trade relations are
reported to be fair. Business is active. Payments are reported to be regular
and as per commitments. The company can
be considered for business dealings at usual trade terms and conditions. Note: Latest financials
of 2013 is not available with us. |
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
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million worth
of mobile-phone-based transactions by July 2013 compared to Rs.260 million in
September, 2012, according to Deloitte report. The number of transactions has
shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 (GENERAL DETAILS)
|
Name : |
Ms. Kinnari |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-79-30451111 |
|
Date : |
06.01.2014 |
LOCATIONS
|
Registered Office : |
21, New York Tower
- A, Near Muktidham Temple, Thaltej Cross Road, Thaltej , Ahmedabad – 380
054, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
7th Floor, Commerce House IV, Besides Shell Petrol Pump, 100 Feet Road
Prahladnagar, Ahmedabad – 380 015, Gujarat, India |
|
Tel. No.: |
91-79-30451111 |
|
Fax No.: |
91-79-30451001 |
DIRECTORS
AS ON 11.09.2013
|
Name : |
Mr. Amit Indubhushan Bakshi |
|
Designation : |
Managing Director |
|
Address : |
01, Amrakadam
Co-Operative Housing Society, Opposite Shukan Flats, Ramdevnagar Satellite,
Ahmedabad – 380 015, Gujarat, India |
|
Date of Birth/Age : |
28.11.1974 |
|
Date of Appointment : |
27.01.2007 |
|
DIN No.: |
01250925 |
|
PAN No.: |
AGIPB4441Q |
|
|
|
|
Name : |
Mr. Himanshu Jayantbhai Shah |
|
Designation : |
Director |
|
Address : |
A/74, Yash
Tower, Near Shwetanjali Society, Opposite, Hasubhai Park, Jodhpur Gam,
Ahmedabad – 380 018, Gujarat, India |
|
Date of Birth/Age : |
09.04.1976 |
|
Date of Appointment : |
27.01.2007 |
|
DIN No.: |
01301025 |
|
|
|
|
Name : |
Mr. Rajendra Rambhai Patel |
|
Designation : |
Director |
|
Address : |
H-103, Akash - 3,
132ft Ring Road, Naranpura, Ahmedabad – 380 013, Gujarat, India |
|
Date of Birth/Age : |
16.02.1977 |
|
Date of Appointment : |
16.08.2012 |
|
DIN No.: |
01229080 |
|
|
|
|
Name : |
Mr. Inderjeet Singh Negi |
|
Designation : |
Director |
|
Address : |
B-22C, Rajat
Vihar, Sector-62, Noida – 201 301, Uttar Pradesh, India |
|
Date of Birth/Age : |
22.06.1971 |
|
Date of Appointment : |
25.01.2007 |
|
DIN No.: |
01255388 |
|
|
|
|
Name : |
Mr. Kaushal Kamlesh Shah |
|
Designation : |
Director |
|
Address : |
2-B, Paradise
Park, Opposite Shantinagar Bus Stop, Jain Agan Mandir, Ashram Road, Ahmedabad
– 380 014, Gujarat, India |
|
Date of Birth/Age : |
12.07.1979 |
|
Date of Appointment : |
27.01.2007 |
|
DIN No.: |
01229038 |
|
|
|
|
Name : |
Mr. Bhikhabhai Chimanlal Shah |
|
Designation : |
Director |
|
Address : |
Paras '7',
Vidhyanagar Society, No.III, Usmanpura, Ahmedabad – 380 013, Gujarat, India |
|
Date of Birth/Age : |
24.05.1939 |
|
Date of Appointment : |
25.01.2007 |
|
DIN No.: |
01217618 |
|
|
|
|
Name : |
Mr. Sanjiv Dwarkanath Kaul |
|
Designation : |
Director |
|
Address : |
22, Siris Road,
DLF Qutab Enclave, Phase - 3, Gurgaon – 122 002, Haryana, India |
|
Date of Birth/Age : |
25.07.1957 |
|
Date of Appointment : |
29.08.2011 |
|
DIN No.: |
01550413 |
KEY EXECUTIVES
|
Name : |
Ms. Kinnari |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Amit Indubhushan Bakshi |
|
51521 |
|
Himanshu Jayantbhai Shah |
|
6972 |
|
Rajendra Rambhai Patel |
|
6971 |
|
Inderjeet Singh Negi |
|
6971 |
|
Kaushal Kamlesh Shah |
|
5500 |
|
Hetal Rasiklal Shah |
|
5500 |
|
Rakesh Bhikhalal Shah |
|
15867 |
|
Bhikhabhai Chimanlal Shah |
|
15854 |
|
Botticelli, India |
|
22344 |
|
Total
|
|
137500 |
AS ON 11.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
16.25 |
|
Directors
or relatives of directors |
|
83.75 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Pharmaceutical Products. |
|
|
|
|
Products : |
·
Pharmaceutical Tablets ·
Pharmaceutical Injections ·
Pharmaceutical Syrup |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
150 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Bank of Baroda,
Navrangpura Branch, Navrangpura, Ahmedabad – 380 009, Gujarat, India (Tel.
No.: 91-79-27541494) |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R.R.S. and Associates Chartered Accountants |
|
Address : |
211, Kamal
Complex, C.G. Road, Navrangpura, Ahmedabad – 380 009, Gujarat, India |
|
PAN No.: |
AAFFR0472A |
|
|
|
|
Subsidiary Companies : |
Eris
Therapeutics Private Limited, India (CIN No.: U24230GJ2009PTC057670) |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
Sozin Flora
Pharma, India |
CAPITAL STRUCTURE
AS ON 11.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
137500 |
Equity Shares |
Rs.10/- each
|
Rs.1.375
millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
137500 |
Equity Shares |
Rs.10/- each
|
Rs.1.375
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1.375 |
1.375 |
|
(b) Reserves & Surplus |
|
685.558 |
194.251 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
686.933 |
195.626 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
25.809 |
37.078 |
|
(b) Deferred tax liabilities (Net) |
|
1.804 |
2.624 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
27.613 |
39.702 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
115.591 |
138.295 |
|
(c)
Other current liabilities |
|
41.125 |
34.980 |
|
(d) Short-term
provisions |
|
323.080 |
196.827 |
|
Total Current
Liabilities (4) |
|
479.796 |
370.102 |
|
|
|
|
|
|
TOTAL |
|
1194.342 |
605.430 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
105.865 |
65.049 |
|
(ii)
Intangible Assets |
|
0.487 |
0.209 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
56.679 |
27.149 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
14.827 |
11.094 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
177.858 |
103.501 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
134.516 |
51.781 |
|
(b) Inventories |
|
239.612 |
162.229 |
|
(c)
Trade receivables |
|
141.839 |
73.299 |
|
(d) Cash
and cash equivalents |
|
81.157 |
3.855 |
|
(e)
Short-term loans and advances |
|
419.360 |
210.765 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total Current
Assets |
|
1016.484 |
501.929 |
|
|
|
|
|
|
TOTAL |
|
1194.342 |
605.430 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
47.378 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
48.478 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
14.485 |
|
|
2] Unsecured Loans |
|
|
36.172 |
|
|
TOTAL BORROWING |
|
|
50.657 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.674 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
101.809 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
41.715 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.038 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
66.992 |
|
|
Sundry Debtors |
|
|
60.160 |
|
|
Cash & Bank Balances |
|
|
(59.241) |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
52.105 |
|
Total
Current Assets |
|
|
120.016 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
12.653 |
|
|
Other Current Liabilities |
|
|
2.824 |
|
|
Provisions |
|
|
44.667 |
|
Total
Current Liabilities |
|
|
60.144 |
|
|
Net Current Assets |
|
|
59.872 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.184 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
101.809 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
GROSS REVENUE FROM
OPERATIONS |
|
3055.896 |
1652.394 |
|
|
|
|
|
|
|
|
OPERATING PROFIT
BEFORE TAX AND EXCEPTIONAL ITEM |
|
662.587 |
305.067 |
|
|
|
|
|
|
|
|
NET PROFIT AFTER
EXCEPTIONAL ITEMS, PRIOR YEAR ADJUSTMENTS AND PROVISION FOR TAXES |
|
491.307 |
203.117 |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
3573.14 |
1477.21 |
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
955.494 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
955.494 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
866.008 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
89.486 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
7.557 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
|
81.929 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
28.682 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
|
53.247 |
|
|
|
|
|
|
|
|
|
Less |
Proposed Dividend (Inclusive of Tax) |
|
|
6.435 |
|
|
|
|
|
|
|
|
|
|
Net Balance Carried Forward |
|
|
46.813 |
|
|
|
|
|
|
|
|
|
Add |
Balance
Brought Forward |
|
|
0.565 |
|
|
|
|
|
|
|
|
|
|
Reserve and
Surplus |
|
|
47.378 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
484.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
5.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
50.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
1.69 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.04
|
0.19 |
1.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.12
|
1.36 |
1.99 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current
maturities of long-term debt:
|
Particulars |
31.03.2012 (Rs.
in millions) |
31.03.2011 (Rs.
in millions) |
31.03.2010 (Rs.
in millions) |
|
Current maturities of long-term debt |
8.579 |
9.849 |
NA |
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
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 |
No |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
Note:
The registered office of the company has been shifted from A/F-10, Kanchan Pharma House, Aslali, Ahmedabad – 382 427, Gujarat to the present address w.e.f. 08.05.2012.
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Inter Corporate Borrowings |
0.000 |
4.966 |
|
Deposits from others (Trade Deposit) |
21.999 |
21.581 |
|
Total
|
21.999 |
26.547 |
Note:
No Charges Exist for Company.
FIXED ASSETS:
Tangible assets
·
Land
·
Buildings
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Books Periodicals
Intangible assets
·
Brands and Trade Marks
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.62.41 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.