MIRA
INFORM REPORT
|
Report Date : |
22.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
HOSPIRA HEALTHCARE INDIA PRIVATE LIMITED |
|
|
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Registered
Office : |
Plot No. B3, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.11.2009 |
|
|
|
|
Com. Reg. No.: |
18-073563 |
|
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|
|
Capital
Investment / Paid-up Capital : |
Rs.25.425 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232TN2009PTC073563 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject operates as a provider of generic injectables. |
|
|
|
|
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 33000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects company’s moderate financial risk profile marked
by continuous losses that company has incurred form its operation and below
average financial performance of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 DECLINED
MANAGEMENT NON - COOPERATIVE (91-44-39370000)
LOCATIONS
|
Registered Office : |
Plot No. B3, SIPCOT Industrial Park, Irungattukottai, Sriperumbudur,
Kancheepuram – 602117, Tamilnadu, India |
|
Tel. No.: |
91-44-39370000 |
|
Fax No.: |
91-44-28151116 |
|
E-Mail : |
|
|
|
|
|
Factory: |
City Sez Plot No. 116 To 119, Part 111 and 123 Jawaharial Nehru
Pharma City, P Visakapatnam – 531019, District Andhra Pradesh, India |
DIRECTORS
As on 29.09.2013
|
Name : |
Mr. Canakapalli Bhaktavatsala Rao |
|
Designation : |
Managing director |
|
Address : |
No.9, Old No.6, Lakshmanan Street, Mahalingapuram, Nungambakkam, Chennai, 600034, Tamilnadu, India |
|
Date of Birth/Age : |
10.08.1949 |
|
Date of Appointment : |
30.03.2010 |
|
DIN No.: |
00010175 |
|
|
|
|
Name : |
Mr. Thomas Edward Werner |
|
Designation : |
Director |
|
Address : |
1312
Vineyard Lane, Libertyville, Il60048, United States of America |
|
Date of Birth/Age : |
20.09.1957 |
|
Date of Appointment : |
14.12.2010 |
|
DIN No.: |
03341627 |
|
|
|
|
Name : |
Mr. Kenneth Frederic Meyers |
|
Designation : |
Director |
|
Address : |
216 Wagner Road, Northfield, Il60093,United States of
America |
|
Date of Birth/Age : |
20.12.1961 |
|
Date of Appointment : |
14.12.2010 |
|
DIN No.: |
03342436 |
|
|
|
|
Name : |
Sumant Ramachandra |
|
Designation : |
Additional director |
|
Address : |
2175 Dehne Road, Northbrook, Il60062, United States of
America |
|
Date of Birth/Age : |
13.01.1969 |
|
Date of Appointment : |
20.08.2013 |
|
DIN No.: |
03344012 |
|
|
|
|
Name : |
Mr. John Bell Elliot |
|
Designation : |
Director |
|
Address : |
Berrymoss,Roffey
Park, Forest Road, Horsham, West Sussex, Na, Fh124td, The United Kingdom |
|
Date of Birth/Age : |
10.12.1951 |
|
Date of Appointment : |
21.05.2012 |
|
DIN No.: |
05298812 |
KEY EXECUTIVES
|
Name : |
Mr. Raghunath Rath |
|
Designation : |
Secretary |
|
Address : |
S2, Kaveri Enclave, 3rd Cross, Dinnur, Main Road R T
Nagar, Bangalore, 560032, Karnataka, India |
|
Date of Birth/Age : |
10.06.1973 |
|
Date of Appointment : |
05.01.2012 |
|
PAN No.: |
AGHPR1456J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Hospira Pte Limited |
|
1621280 |
|
Hospira Bahamas (Ireland) Corp. |
|
10 |
|
Total |
|
1621290 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.000 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject operates as a provider of generic injectables. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Asv N Ramana Tower 52,Venkatnarayana Road, T.Nagar, |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
|
Ultimate Holding
Company: |
Hospira, Inc. (Delaware, USA) |
|
|
|
|
Holding Company |
Hospira Pte. Limited. Singapore |
|
|
|
|
Fellow Subsidiaries
- With whom transactions have taken place during the year: |
· Hospira Enterprises B.V. Netherlands · Hospira Zagreb d.o.o · Hospira Ltd., Hong Kong · Hospira Adelaide Pty. Limited., Australia |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1621290 |
Equity Shares |
Rs.10/- each |
Rs.16.213
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 |
16.213 |
12.400 |
12.400 |
|
(b) Reserves & Surplus |
8118.139 |
7755.988 |
10315.319 |
|
(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) |
8134.352 |
7768.388 |
10327.719 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
18983.297 |
16855.220 |
9212.000 |
|
(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) |
18983.297 |
16855.220 |
9212.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1292.850 |
1506.777 |
0.000 |
|
(b) Trade payables |
749.241 |
1015.980 |
868.422 |
|
(c) Other current liabilities |
400.866 |
147.225 |
725.518 |
|
(d) Short-term provisions |
57.907 |
33.939 |
14.920 |
|
Total
Current Liabilities (4) |
2500.864 |
2703.921 |
1608.860 |
|
|
|
|
|
|
TOTAL |
29618.513 |
27327.529 |
21148.579 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5665.710 |
4659.529 |
4650.886 |
|
(ii) Intangible Assets |
5496.067 |
7426.764 |
9323.247 |
|
(iii) Capital work-in-progress |
9042.156 |
2986.262 |
353.094 |
|
(iv) Intangible assets under
development |
61.819 |
61.550 |
461.139 |
|
(b) Non-current Investments |
0.429 |
0.429 |
0.429 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3375.217 |
4657.213 |
1250.100 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
23641.398 |
19791.747 |
16038.895 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1898.334 |
1942.700 |
1360.068 |
|
(c) Trade receivables |
1085.902 |
1756.383 |
1756.703 |
|
(d) Cash and cash equivalents |
1146.700 |
2845.342 |
1696.625 |
|
(e) Short-term loans and advances |
1451.626 |
991.357 |
296.288 |
|
(f) Other current assets |
394.553 |
0.000 |
0.000 |
|
Total
Current Assets |
5977.115 |
7535.782 |
5109.684 |
|
|
|
|
|
|
TOTAL |
29618.513 |
27327.529 |
21148.579 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
7847.464 |
8063.880 |
5462.196 |
|
|
Other Income |
249.389 |
106.911 |
13.061 |
|
|
TOTAL
(A) |
8096.853 |
8170.791 |
5475.257 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
|
|
|
Employees benefits expense |
|
|
|
|
|
Other expenses |
|
|
|
|
|
TOTAL
(B) |
8001.104 |
6992.025 |
4004.755 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION
(C) |
95.749 |
1178.766 |
1470.502 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES
(D) |
1100.744 |
990.014 |
940.963 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1004.995) |
188.752 |
529.539 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
2441.565 |
2748.083 |
2408.260 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(3446.560) |
(2559.331) |
(1878.721) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I) (J) |
(3446.560) |
(2559.331) |
(1878.721) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(2125.81) |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(42.57) |
(31.32) |
(34.31) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(43.92) |
(31.74) |
(34.39) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(16.80) |
(10.54) |
(9.24) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.424) |
(0.329) |
(0.182) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.49 |
2.36 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39 |
2.79 |
3.18 |
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 |
12.400 |
12.400 |
16.213 |
|
Reserves & Surplus |
10315.319 |
7755.988 |
8118.139 |
|
Net
worth |
10327.719 |
7768.388 |
8134.352 |
|
|
|
|
|
|
long-term borrowings |
9212.000 |
16855.220 |
18983.297 |
|
Short term borrowings |
0.000 |
1506.777 |
1292.850 |
|
Total
borrowings |
9212.000 |
18361.997 |
20276.147 |
|
Debt/Equity
ratio |
0.892 |
2.364 |
2.493 |
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 |
5462.196 |
8063.880 |
7847.464 |
|
|
|
47.631 |
(2.684) |
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 |
5462.196 |
8063.880 |
7847.464 |
|
Profit / (Loss) |
(1878.721) |
(2559.331) |
(3446.560) |
|
|
(34.39%) |
(31.74%) |
(43.92%) |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
Note: Registered office of the company has been
shifted from Plot No. B3, SIPCOT Industrial Park, Irungattukottai, Sriperumbudur –
602105, Tamilnadu, India to the present
address w.e.f 01.011.2013
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
BUSINESS OPERATIONS
AND FINANCIAL RESULTS:
During the year the Company achieved a total turnover of Rs. 7847.000 Millions (MM) as compared to Rs. 8062.000 MM during the previous year.
The marginal decline is attributed to softening of prices for certain products. The Company has supplied its products to Hospira entities in the USA, Europe and other parts of the world. The other injectable products in the areas of Cephalosporins and Penicillin continued to be supplied to the distribution partner. But for certain constraints in supply of APIs from Orchid Chemicals and Pharmaceuticals Limited (“Orchid”) with whom the Company has an exclusive long term supply relationship, the turnover would have been higher. The Directors foresee good prospects in future given the Company’s robust position in the antibiotics space and the expansion projects currently under execution.
BACKGROUND
Subject a wholly owned subsidiary of Hospira Inc., USA was incorporated in India on November 17, 2009. HHIPL acquired the generic injectable pharmaceuticals business (including certain manufacturing and Research and Development (“R and D”) assets and drug pipeline) of Orchid Chemicals and Pharmaceuticals Limited (“Orchid”) on March 30, 2010 pursuant to a Business Transfer Agreement dated December 15, 2009 between the parties. The Company is executing plans to expand its manufacturing capacity at Irungattukottai and is also engaged in setting up a new injectables manufacturing facility at Vizag utilizing the site on the long term lease acquired from Orchid in March 2010.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Fully convertible debentures intercorporate |
9212.000 |
9212.000 |
|
Loans and advances from others |
9771.297 |
7643.220 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
1292.850 |
1506.777 |
|
|
|
|
|
Total |
20276.147 |
18361.997 |
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Office equipment
· Vehicles
· Computer equipments
· Other equipments
Intangible assets
· Goodwill
· Computer software
· Recipes, formulae, models, designs and prototypes
· Know-how
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.60.19 |
|
|
1 |
Rs.102.87 |
|
Euro |
1 |
Rs.81.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
NO |
|
--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 |
|
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.