MIRA
INFORM REPORT
|
Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
LALITHA HEALTHCARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.65, Prime |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.03.2005 |
|
|
|
|
Com. Reg. No.: |
08-035863 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.8.116 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA2005PTC035863 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRL01772B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL0711D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged in the business of operating a multi speciality Hospital in
Bangalore. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
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 record. Networth of the company has been eroded due to continuous accumulated
loss incurred from its operations. However, business is active. Payment are reported to be slow. The company can be considered for business dealings 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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from
$31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports
and moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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
|
Name : |
Not Divulged |
|
Designation : |
HR Department |
|
Contact No.: |
91-80-40200000 |
|
Date : |
25.03.2014 |
LOCATIONS
|
Registered Office : |
No.65, Prime Centreist Main Road, Seshhadripuram, Bangalore – 560020,
Karnataka |
|
Tel. No.: |
91-80-40200000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 24.09.2013
|
Name : |
Dr. Mohan Keshavamurthy |
|
Designation : |
Whole-time Director |
|
Address : |
Apartment No.A3-204, White House, 15th Cross, R T Nagar,
Bangalore – 560032, Karnataka, India |
|
Date of Appointment : |
21.03.2005 |
|
DIN No.: |
00381730 |
|
|
|
|
Name : |
Dr. Sreenivasa Lakshmi Narayana Raju |
|
Designation : |
Whole-time Director |
|
Address : |
No.788/E, 3rd Main, Vijayanagar, 2nd Stage,
Bangalore – 560040, Karnataka, India |
|
Date of Appointment : |
21.03.2005 |
|
DIN No.: |
00381844 |
|
|
|
|
Name : |
Mr. Ashish Bhatia |
|
Designation : |
Director |
|
Address : |
H. No.73, Sector-9-A, Chandigarh – 160009, India |
|
Date of Appointment : |
03.02.2012 |
|
DIN No.: |
01845421 |
|
|
|
|
Name : |
Mr. Karthik Rajagopal |
|
Designation : |
Additional Director |
|
Address : |
Flat No. B 7 202, L and T South City, Arakere, Micolayout Off
Bannergatta Road, Bangalore – 560076, Karnataka, India |
|
Date of Appointment : |
12.08.2013 |
|
DIN No.: |
06652382 |
|
|
|
|
Name : |
Mr. Jasbir Singh Grewal |
|
Designation : |
Director |
|
Address : |
78, Vasant Enclave SFS, DDA Flats, New Delhi – 110057, India |
|
Date of Appointment : |
03.02.2012 |
|
DIN No.: |
01113910 |
|
|
|
|
Name : |
Mr. Sandeep Puri |
|
Designation : |
Director |
|
Address : |
S-309 Panchshila Park, New Delhi – 110017, India |
|
Date of Appointment : |
14.12.2012 |
|
DIN No.: |
05345943 |
MAJOR SHAREHOLDERS
AS ON 24.09.2013
|
Names of Shareholders |
No. of Shares |
|
Dr. Anil Kumar |
2000 |
|
Dr. Deepak |
1000 |
|
Dr. B. G. Manjunathan |
1000 |
|
Dr. L N Raju |
84972 |
|
Dr. Mohan Keshvamurthy |
68972 |
|
Dr. Patil |
1000 |
|
Dr. Seetha |
30000 |
|
Dr. Smita |
1000 |
|
Ms. Anitha V Raju |
1000 |
|
Dr. Sunitha |
2000 |
|
Dr. Ugramurthy |
1000 |
|
Ms. Hema Raghuram |
1000 |
|
Fortis Health Management (South) Limited |
545620 |
|
Dr. E. Mahesh |
1000 |
|
Mrs. Lakshmi Priya |
20000 |
|
Mr. Arvind |
1000 |
|
Mr. Vasudeva Raju |
30000 |
|
Mr. Venkata Ramana Raju |
8000 |
|
Mr. Venkateshwara Raju |
3000 |
|
Mr. Venkat Krishna Raju |
8000 |
|
Fortis Health Management (South) Limited Jointly with Mr. Aditya Vij |
1 |
|
Fortis Health Management (South) Limited Jointly with Mr. Ashish
Bhatia |
1 |
|
Fortis Health Management (South) Limited Jointly with Mr. Sandeep Puri |
1 |
|
Fortis Health Management (South) Limited Jointly with Mr. Karthik
Rajagopal |
1 |
|
Total |
811568 |
Equity Share Break up (Percentage of Total Equity)
AS ON 24.09.2013
|
Category |
Percentage |
|
Bodies corporate |
67.23 |
|
Directors or relatives of Directors |
31.30 |
|
Other top fifty shareholders |
1.47 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the business of operating a multi speciality Hospital in
Bangalore. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Bankers : |
·
HDFC bank Limited, HDFC bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India ·
Yes Bank Limited, 9th floor, Nehru
Centre, Discovery of India, Dr. Annie Basant Road, Worli, Mumbai – 400018,
Maharashtra, India ·
Bank of India, R. T. Nagar Branch, No.400, II
Main, I Block, R. T. Nagar. Bangalore – 560032, Karnataka, India ·
ABN Amro Bank NV, 9th Floor, Tower C,
Cyber Greens, DLF Cyber City, Sector 25A, Gurgaon – 122002, Haryana, India |
||||||||||||||||||||||||
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Facilities : |
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|
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Banking
Relations : |
-- |
|
|
|
|
Financial
Institutions : |
Relaince Capital Limited, “H” Block, 1st Floor, Dhirubhai
Ambani knowledge City, Koperkheirne, Navi Mumbai – 400710, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitee Centre, Anchorage II, 100/2, Richmond Road, Bangalore –
560025, Karnataka, India |
|
PAN No.: |
AACFD3771D |
|
|
|
|
Holding
Company : |
·
Fortis Health Management (South)
Limited |
|
|
|
|
Immediate
Holding Company : |
·
Fortis Hospitals Limited |
|
|
|
|
Ultimate
Holding Company : |
·
Fortis Healthcare Holdings Private
Limited |
|
|
|
|
Enterprises which are under common
control with reporting Enterprise : |
·
Fortis Healthcare Limited ·
Kanishka Healthcare Limited ·
Fortis Health Management Limited ·
Fortis Health Management (North)
Limited ·
International Hospital Limited ·
Fortis Emergency Services Limited ·
Super Religare Laboratories Limited ·
Balaji School of Nursing ·
Indra Priyadarshini School of Nursing ·
Ranibennur College of Nursing ·
RMCRS Health Management ·
RM Educational Trust ·
Fortis RM Pharma ·
Aarushi Lithotripsy Pvt Limited |
CAPITAL STRUCTURE
AS ON 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
2250000 |
Preference Shares |
Rs.10/- each |
Rs.22.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.42.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
811568 |
Equity Shares |
Rs.10/- each |
Rs.8.116 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 |
8.116 |
8.116 |
8.116 |
|
(b) Reserves & Surplus |
(33.636) |
(22.195) |
(7.025) |
|
(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) |
(25.520) |
(14.079) |
1.091 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
63.055 |
86.181 |
116.667 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
1.040 |
1.040 |
|
(d) long-term provisions |
1.686 |
1.328 |
0.921 |
|
Total Non-current Liabilities (3) |
64.741 |
88.549 |
118.628 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
68.491 |
35.853 |
22.738 |
|
(b) Trade payables |
59.978 |
48.679 |
32.662 |
|
(c) Other current
liabilities |
30.881 |
171.682 |
40.209 |
|
(d) Short-term provisions |
0.274 |
0.287 |
0.000 |
|
Total Current Liabilities (4) |
159.624 |
256.501 |
95.609 |
|
|
|
|
|
|
TOTAL |
198.845 |
330.971 |
215.328 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
155.138 |
156.433 |
188.134 |
|
(ii) Intangible Assets |
0.921 |
0.000 |
0.000 |
|
(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 |
0.025 |
0.025 |
0.025 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.418 |
3.077 |
2.917 |
|
(e) Other Non-current assets |
0.721 |
1.054 |
0.964 |
|
Total Non-Current Assets |
158.223 |
160.589 |
192.040 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6.177 |
3.803 |
3.728 |
|
(c) Trade receivables |
19.969 |
13.087 |
11.713 |
|
(d) Cash and cash
equivalents |
4.193 |
2.736 |
0.674 |
|
(e) Short-term loans and
advances |
8.648 |
146.003 |
4.507 |
|
(f) Other current assets |
1.635 |
4.753 |
2.666 |
|
Total Current Assets |
40.622 |
170.382 |
23.288 |
|
|
|
|
|
|
TOTAL |
198.845 |
330.971 |
215.328 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
217.806 |
173.689 |
151.193 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
203.611 |
161.832 |
138.949 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.195 |
11.857 |
12.244 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
17.373 |
19.567 |
18.658 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(3.178) |
(7.710) |
(6.414) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
8.263 |
7.460 |
7.505 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(11.441) |
(15.170) |
(13.919) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(11.441) |
(15.170) |
(13.919) |
|
|
|
|
|
|
|
|
|
|
Earnings/() Per
Share (Rs.) |
14.10 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(5.25) |
(8.73) |
(9.21) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.75) |
(4.58) |
(6.46) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45 |
1.08 |
(12.76) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(5.15) |
(8.67) |
127.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.25 |
0.66 |
0.24 |
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 |
8.116 |
8.116 |
8.116 |
|
Reserves & Surplus |
(7.025) |
(22.195) |
(33.636) |
|
Net
worth |
1.091 |
(14.079) |
(25.520) |
|
|
|
|
|
|
long-term borrowings |
116.667 |
86.181 |
63.055 |
|
Short term borrowings |
22.738 |
35.853 |
68.491 |
|
Total
borrowings |
139.405 |
122.034 |
131.546 |
|
Debt/Equity
ratio |
127.777 |
(8.668) |
(5.155) |
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 |
|
Total Income |
151.193 |
173.689 |
217.806 |
|
|
|
14.879 |
25.400 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
151.193 |
173.689 |
217.806 |
|
Profit |
(13.919) |
(15.170) |
(11.441) |
|
|
(9.21%) |
(8.73%) |
(5.25%) |
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 |
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 |
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 |
No |
|
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 and
Advances from Related Parties (Maturity date of March 31, 2014 and
carries interest at the rate of 11.50% p.a.) |
54.937 |
18.273 |
|
|
|
|
|
Total |
54.937 |
18.273 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10297149 |
24/09/2011
* |
170,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013,
INDIA |
B24106171 |
* Date of charge modification
BACKGROUND
Subject was
incorporated on March 21, 2005 Subject is involved in operating a multi
speciality Hospital in Bangalore. International Hospital Limited entered
shareholders agreement with Lalitha Healthcare Private Limited as on 28th day
of Jan 2009.Fortis Health Management (South) bought shares from International
Hospital Limited on 25 May, 2011.
FIXED ASSETS:
·
Land
·
Building
·
Plant and machinery
·
Furniture and fixture
·
Computer
·
Vehicle
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.60.17 |
|
|
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
11 |
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.