MIRA
INFORM REPORT
|
Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEDICA HOSPITALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
127 Mukundapur, E.M. Bypass, Kolkata – 700099, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.01.2007 |
|
|
|
|
Com. Reg. No.: |
21-112554 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 439.792 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200WB2007PTC112554 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALM08583B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM0338M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in business of rendering medical and health care services. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
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 and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There are accumulated losses recorded by the company. Rating also
takes into consideration delay in debt servicing on account of stressed
liquidity position. Business is active. Payment terms are slow and delayed. The company can be considered for business dealing on a 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 – 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities =D |
|
Rating Explanation |
Lowest credit quality and very low prospects of recovery. |
|
Date |
21.10.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Amitabo Nandi |
|
Designation : |
Pharmacy Department |
|
Contact No.: |
91-33-66520000 |
|
Date : |
29.04.2014 |
LOCATIONS
|
Registered Office : |
127 Mukundapur, E.M. Bypass, Kolkata – 700099, West Bengal, India |
|
Tel. No.: |
91-33-66520000 |
|
Fax No.: |
91-33-24264967 / 66520171 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 28.09.2013
|
Name : |
Mr. Aruna Nair |
|
Designation : |
Director |
|
Address : |
4B, D2, Isle Tower, HIl and Park, Kolkata – 700094, West Bengal, India
|
|
Date of Birth/Age : |
30.11.1960 |
|
Date of Appointment : |
12.01.2007 |
|
DIN No.: |
00715813 |
|
PAN No.: |
AAHPN9690G |
|
|
|
|
Name : |
Mr. Ayanabh Debgupta |
|
Designation : |
Director |
|
Address : |
Flat H1, Duplex, BL-G, Sherwood Estate, Kolkata – 700103, West Bengal,
India |
|
Date of Birth/Age : |
29.08.1977 |
|
Date of Appointment : |
24.06.2010 |
|
DIN No.: |
01496280 |
|
PAN No.: |
AEQPA3791L |
|
|
|
|
Name : |
Mr. Samrat Ganguly |
|
Designation : |
Director |
|
Address : |
111, 125th Street Nw Apartment 720, Washington DC 20037 |
|
Date of Birth/Age : |
16.03.1973 |
|
Date of Appointment : |
23.06.2011 |
|
DIN No.: |
01554590 |
|
|
|
|
Name : |
Mrs. Komal Dashora Dutta |
|
Designation : |
Director |
|
Address : |
C 115, Savitri Path, High Rise Apartment, Bapunagar, Jaipur – 302015,
Rajasthan, India |
|
Date of Birth/Age : |
28.06.1976 |
|
Date of Appointment : |
28.09.2013 |
|
DIN No.: |
05202837 |
KEY EXECUTIVES
|
Name : |
Mr. Ankit Jain |
|
Designation : |
Secretary |
|
Address : |
11/4, Rishi9 Bankim CHA NDRA Road, Rishra, Hooghly – 712248, West
Bengal, India |
|
Date of Birth/Age : |
13.06.1986 |
|
Date of Appointment : |
30.06.2009 |
|
PAN No.: |
AIBPJ8179L |
|
|
|
|
Name : |
Mr. Amitabo Nandi |
|
Designation : |
Pharmacy Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Medica Synergie Private Limited, India |
|
43979090 |
|
Medica Synergie Private Limited, India (Dr. Alok Roy (Beneficiary Holder on behalf of MSPL) |
|
100 |
|
Total |
|
43979190 |
As on 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in business of rendering medical and
health care services. |
|
|
|
|
Brand Names : |
"MEDICA SUPERSPECIALTY HOSPITAL". |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi - 110001, India · Axis Bank Limited ·
State Bank of Travankore |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
B S S R and Company Chartered Accountants |
|
Address : |
Building No.10, 8th Floor, Tower-B, DLF Cyber City,
Phase -II, Gurgaon – 122002, Haryana, India |
|
PAN No.: |
AAIFB4734C |
|
|
|
|
Holding Company : |
Medica Synergie Private Limited |
|
|
|
|
Enterprises having
significant influence over the Company : |
· IDBI Trusteeship Services Limited (India Advantage Fund -V) ·
I-VEN Medicare India Private Limited |
|
|
|
|
Enterprises over
which key management personnel have significant influence |
Eastern India Healthcare Foundation |
|
|
|
|
Fellow subsidiaries |
· Medica Pharmacy Private Limited · North Bengal Clinic Private Limited |
|
|
|
|
Jointly controlled
operations |
· Maa Lalita Medica Superspecialty Hospital and Research Centre · R.C. Agarwal Memorial Hospital & Research Centre · Kantilal Gandhi Memorial Hospital |
CAPITAL STRUCTURE
As on 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43979190 |
Equity Shares |
Rs.10/- each |
Rs.439.792 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000000 |
Equity Shares |
Rs.10/- each |
Rs.450.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43979190 |
Equity Shares |
Rs.10/- each |
Rs.439.792 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 |
439.792 |
380.700 |
287.100 |
|
(b) Reserves & Surplus |
(265.737) |
(134.301) |
(113.600) |
|
(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) |
174.055 |
246.399 |
173.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
271.591 |
327.358 |
341.372 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
11.346 |
8.497 |
3.340 |
|
(d) long-term provisions |
10.444 |
4.644 |
2.091 |
|
Total Non-current Liabilities (3) |
293.381 |
340.499 |
346.803 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
60.141 |
33.169 |
23.246 |
|
(b) Trade payables |
303.922 |
136.266 |
134.544 |
|
(c) Other current
liabilities |
259.959 |
314.841 |
365.341 |
|
(d) Short-term provisions |
1.181 |
0.457 |
0.105 |
|
Total Current Liabilities (4) |
625.203 |
484.733 |
523.236 |
|
|
|
|
|
|
TOTAL |
1092.639 |
1071.631 |
1043.539 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
823.819 |
800.108 |
811.086 |
|
(ii) Intangible Assets |
6.096 |
8.037 |
9.122 |
|
(iii) Capital
work-in-progress |
4.652 |
27.025 |
65.369 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
90.753 |
89.042 |
74.543 |
|
(e) Other Non-current assets |
0.811 |
7.336 |
6.835 |
|
Total Non-Current Assets |
926.131 |
931.548 |
966.955 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
31.398 |
22.963 |
18.067 |
|
(c) Trade receivables |
82.109 |
75.682 |
39.929 |
|
(d) Cash and cash
equivalents |
16.649 |
20.279 |
6.667 |
|
(e) Short-term loans and
advances |
26.971 |
2.833 |
1.680 |
|
(f) Other current assets |
9.381 |
18.326 |
10.241 |
|
Total Current Assets |
166.508 |
140.083 |
76.584 |
|
|
|
|
|
|
TOTAL |
1092.639 |
1071.631 |
1043.539 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operations |
1178.278 |
746.641 |
474.987 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(80.258) |
(33.240) |
(116.935) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
69.490 |
86.732 |
63.598 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(149.748) |
(119.972) |
(180.533) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
99.872 |
87.544 |
74.983 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(249.620) |
(207.516) |
(255.516) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(249.620) |
(207.516) |
(255.516) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(6.53) |
(7.23) |
(7.85) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(21.19) |
(27.79) |
(53.79) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(22.94) |
(19.87) |
(26.12) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.43) |
(0.84) |
(1.47) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.91 |
1.46 |
2.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.27 |
0.29 |
0.15 |
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 |
287.100 |
380.700 |
439.792 |
|
Reserves & Surplus |
(113.600) |
(134.301) |
(265.737) |
|
Net
worth |
173.500 |
246.399 |
174.055 |
|
|
|
|
|
|
long-term borrowings |
341.372 |
327.358 |
271.591 |
|
Short term borrowings |
23.246 |
33.169 |
60.141 |
|
Total
borrowings |
364.618 |
360.527 |
331.732 |
|
Debt/Equity
ratio |
2.102 |
1.463 |
1.906 |
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 |
474.987 |
746.641 |
1178.278 |
|
|
|
57.192 |
57.811 |
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 |
474.987 |
746.641 |
1178.278 |
|
Profit / (Loss) |
(255.516) |
(207.516) |
(249.620) |
|
|
(53.79%) |
(27.79%) |
(21.19%) |
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 |
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 |
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 |
Note:
The registered office of the company has been shifted from
Premises No 1138, Block C, 163, Survey Park, P.S. East Jadavpur, Kolkata –
700075, West Bengal, India to present address w.e.f. 01.10.2009
BACKGROUND:
Subject was incorporated on 12 January 2007 as private limited company under Companies Act, 1956. The said hospital has been set up on land taken on "Build Operate Transfer" (BOT) basis from Eastern India Healthcare Foundation ('trust') for a period of 30 years, which may be renewed with mutual consent on the terms acceptable to both the parties. The Company is primarily engaged in business of rendering medical and health care services. The Company operated under the brand name "Medica Superspecialty Hospital".
BUSINESS PERFORMANCE:
During the year, the revenue of the company has increased by around 58% over last year and loss after tax has increased by around 20% as compared to last year. With the steps being taken by the company to reduce cost and enhance revenue, the margins are likely to improve significantly during the current year. The flagship hospital of the company- Medica Superspecialty Hospital has emerged as one of the leaders in the Hospital Industry in Eastern India. The Company has successfully treated over 13,000 In-Patients and over 1,35,000 Out-patients during the year. In view of the several marketing and brand building initiatives undertaken, the footfall at the hospital is expected to improve further during the current year. The hospital had already obtained the NABH accredition during the year. It is one of the few hospitals in India to get this recognition within 3 years of operation. This will help attract more corporate tie-up and will also improve the average revenue per patient.
The work on the company’s land at Asansol for building a secondary care hospital is likely to commence in the current year.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Deposits |
32.725 |
0.000 |
|
Short-term borrowings |
|
|
|
Loans repayable on demand |
10.200 |
0.000 |
|
Total |
42.925 |
0.000 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10289497 |
21/05/2011 |
80,000,000.00 |
STATE BANK OF INDIA - LEAD BANK |
OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
B13988399 |
|
2 |
10267512 |
19/09/2012 * |
50,000,000.00 |
STATE BANK OF INDIA - LEAD BANK |
OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
B59892380 |
|
3 |
10118680 |
09/08/2008 |
460,000,000.00 |
STATE BANK OF INDIA - LEAD BANK |
OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
A44309706 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
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.60.22 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
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 |
|
13 |
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.