MIRA
INFORM REPORT
|
Report Date : |
14.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAXHEAL LABORATORIES PRIVATE LIMITED (w.e.f. 11.07.2008) |
|
|
|
|
Formerly Known
as : |
MAX HEAL PHAMACUTICAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
401, 4th Floor, Maxheal House, Plot No. 169, CST No. 1043,
Bangur Nagar, Goregaon (West), Mumbai – 400090, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.12.2004 |
|
|
|
|
Com. Reg. No.: |
11-150120 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 23.814 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2004PTC150120 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Supplier
and Manufacturer of Anti Infective Drugs. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having a moderate track. There are huge external borrowing recorded by the company during 2013. However, trade relations are fair. Business is active. Payment are reported
to be slow. The company can be considered for business dealing on safe and secured
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
State-run banks hired nearly 300000
personnel including more than 94000 officers in the last four years, according
to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office locations.
London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = D (Suspended) |
|
Rating Explanation |
Expected to be in default |
|
Date |
15.11.2013 |
Reasons :
The Suspension of ratings is an account of non-co-operative
by company with CRISIL’s efforts to undertake a review of the rating
outstanding.
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 DENIED BY
Management Non Co-operative
LOCATIONS
|
Registered Office : |
401, 4th Floor, Maxheal House, Plot No. 169, CST No. 1043,
Bangur Nagar, Goregaon (West), Mumbai – 400090, Maharashtra, India |
|
Tel. No.: |
91-22-42767718 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
Head Office : |
102/103 Tulsi Niwaspustikar
Co-Operative Society Limited, Jogeshwari (West), Mumbai – 400102,
Maharashtra, India |
|
Tel. No.: |
91-22-42767718 |
|
Fax No.: |
91-22-26786105 |
|
E-Mail : |
|
Factory 1 : |
2-7/80-85, SURSEZ, Sachin 394230, District Surat, Gujarat, India |
|
Tel. No. : |
91-261-2397135 |
|
Fax No. : |
91-261-2397513 |
|
E-Mail : |
DIRECTORS
As On 30.09.2013
|
Name : |
Mr. Madan Mohanlal Sakhala |
|
Designation : |
Director |
|
Address : |
A-702, Rushi Tower, Plot No. 1, Near Green Acres, Samarth Nagar,
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
04.11.1948 |
|
Date of Appointment : |
21.12.2014 |
|
PAN No.: |
AAPPS5474H |
|
DIN No.: |
00475606 |
|
|
|
|
Name : |
Mrs. Hemlata Madan Sakhala |
|
Designation : |
Director |
|
Address : |
A-702, Rushi Tower, Plot No. 1, Near Green Acres, Samarth Nagar, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
26.09.1951 |
|
Date of Appointment : |
21.12.2014 |
|
PAN No.: |
AAPPS5473A |
|
DIN No.: |
00475674 |
|
|
|
|
Name : |
Mr. Mehul Madan Sakhala |
|
Designation : |
Director |
|
Address : |
A-702, Rushi Tower, Plot No. 1, Near Green Acres, Samarth Nagar,
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
03.06.1985 |
|
Date of Appointment : |
01.04.2006 |
|
PAN No.: |
AVCPS6796D |
|
DIN No.: |
00475715 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
%age |
|
|
1,848,200 |
77.61 |
|
|
231,333 |
9.71 |
|
|
120,000 |
5.04 |
|
Mehul Madan Sakhala |
181,867 |
7.64 |
|
Total |
2,381,400 |
100.00 |
As On 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier
and Manufacturer of Anti Infective Drugs |
PRODUCTION STATUS AS ON 31.03.2013
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Tablets |
Lacs |
14976 |
2230.08 |
|
Capsules |
Lacs |
9000 |
942.15 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
Union Bank Of
India Limited, Industrial Finance Branch 1st Floor,, Union Bank Bhavan,
Sayajigunj., Baroda - 390005,Gujarat, India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Majithia and Associates Chartered Accountants |
|
Address : |
6, New Jagruti Co-Op Housing Society, 227, S.V. Road, Bandra (West),
Mumbai – 400050, Maharashtra, India |
|
Tel. No.: |
91-22-26516836 / 8887 |
|
Fax No.: |
91-22-26551145 |
|
PAN No.: |
AAAFM5330M |
|
|
|
|
Associates/Subsidiaries : |
·
Maxheal Pharmaceuticals (India) limited ·
Ally Pharma Options Private Limited |
CAPITAL STRUCTURE
As On 30.09.2013
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 |
|
|
|
|
|
|
2381400 |
Equity Shares |
Rs.10/- each |
Rs.23.814 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 |
23.814 |
18.814 |
18.814 |
|
(b) Reserves & Surplus |
25.667 |
(44.129) |
(37.367) |
|
(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) |
49.481 |
(25.315) |
(18.553) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
158.898 |
190.133 |
239.181 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
7.050 |
7.570 |
8.635 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
165.948 |
197.703 |
247.816 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
96.886 |
116.328 |
66.231 |
|
(b) Trade payables |
76.560 |
54.842 |
30.888 |
|
(c) Other current liabilities |
46.639 |
82.905 |
50.351 |
|
(d) Short-term provisions |
1.739 |
0.867 |
0.474 |
|
Total
Current Liabilities (4) |
221.824 |
254.942 |
147.944 |
|
|
|
|
|
|
TOTAL |
437.253 |
427.330 |
377.207 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
226.143 |
252.418 |
307.910 |
|
(ii) Intangible Assets |
17.296 |
21.620 |
21.620 |
|
(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 |
0.001 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
20.283 |
14.943 |
0.000 |
|
(d) Long-term Loan and Advances |
1.320 |
1.170 |
1.115 |
|
(e) Other Non-current assets |
0.739 |
0.463 |
0.000 |
|
Total
Non-Current Assets |
265.782 |
290.614 |
330.645 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
50.845 |
43.944 |
31.830 |
|
(c) Trade receivables |
112.847 |
88.110 |
9.939 |
|
(d) Cash and cash equivalents |
1.935 |
3.340 |
1.756 |
|
(e) Short-term loans and
advances |
1.822 |
1.252 |
0.632 |
|
(f) Other current assets |
4.022 |
0.070 |
2.405 |
|
Total
Current Assets |
171.471 |
136.716 |
46.562 |
|
|
|
|
|
|
TOTAL |
437.253 |
427.330 |
377.207 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
307.550 |
267.809 |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
24.796 |
(6.762) |
34.492 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(50.989) |
(44.227) |
(9.735) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(26.193) |
(50.989) |
24.757 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
296.111 |
267.809 |
73.996 |
|
|
TOTAL EARNINGS |
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
11.946 |
61.124 |
25.840 |
|
|
|
|
Raw Materials |
|
|
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
10.41 |
(3.59) |
(18.33) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.17
|
(12.10) |
(16.46) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.77
|
0.54 |
0.31 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
18.814 |
18.814 |
23.814 |
|
Reserves & Surplus |
(37.367) |
(44.129) |
25.667 |
|
Net
worth |
(18.553) |
(25.315) |
49.481 |
|
|
|
|
|
|
long-term borrowings |
239.181 |
190.133 |
158.898 |
|
Short term borrowings |
66.231 |
116.328 |
96.886 |
|
Total
borrowings |
305.412 |
306.461 |
255.784 |
|
Debt/Equity
ratio |
(16.462) |
(12.106) |
5.169 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
|
267.809 |
307.550 |
|
|
|
|
14.839 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
|
267.809 |
307.550 |
|
Profit After Tax |
|
(6.762) |
24.796 |
|
|
|
(2.52%) |
8.06% |
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 two 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 |
Yes |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
UNSECURED LOAN
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loan From Director |
|
|
|
Madan M Sakhala |
107.942 |
159.337 |
|
Hemlata M Sakhala |
22.230 |
30.602 |
|
Mehul M Sakhala |
3.659 |
0.194 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Other Loans and Advances |
0.000 |
11.938 |
|
|
|
|
|
Total |
133.831 |
202.071 |
Note :
Registered office of the company has been
shifted from 102/103 Tulsi Niwaspustikar Co-Operative Society Limited, Jogeshwari
(West), MUMBAI-400102, Maharashtra, India to the present address w.e.f.
01.11.2013.
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10026139 |
04/02/2014 * |
135,000,000.00 |
UNION BANK OF
INDIA LIMITED |
INDUSTRIAL
FINANCE BRANCH 1ST FLOOR,, UNION BANK |
B9628627 |
* Date of charge modification
FINANCIAL RESULTS
The company in full year of operation after
having commenced the commercial production from 16th November, 2009 achieved a sales turnover of
Rs. 307.550 Millions (Previous Year Rs. 267.809 Millions) comprised of export
turnover of Rs. 300.226 Millions and local sales turnover of Rs. 7.324 Millions
registering an impressive growth over
the last year and resulting in turn around case. After having regard to
appropriation and provisions, there are was a profit of Rs. 24.796 Millions
(Previous year loss of Rs. 6.761 Millions) which has been carried to balance
sheet. The company is having accumulated losses of Rs. 26.193 Millions
(Previous Year Rs. 50.989 Millions)
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 records 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.61.09 |
|
|
1 |
Rs.101.59 |
|
Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
17 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.