MIRA INFORM REPORT
|
Report Date : |
12.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOUVEAU MEDICAMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 720, Anna Salai, Nandanam, Chennai – 600035, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.04.2001 |
|
|
|
|
Com. Reg. No.: |
18-046971 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2.950 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231TN2001PTC046971 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEN02336F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN3057C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceutical Formulations. |
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|
|
|
No. of Employees
: |
Not Available [We tried to confirm
the number of employees but no one is ready to part any information from the
company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company possesses an acceptable financial profile marked by
adequate networth base along with low gearing and favourable debt protection
metrics, backed by infusion of equity by the promoters further supporting the
liquidity profile. Management has reported a modest scale of operations, highlighted by
its slight increase in turnover whereas a dip in its net profitability and
margin during FY14. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of gradual improvement in its overall profile, the company can
be considered for business dealings at usual 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had willfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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 BY
|
Name : |
Mr. Murugavel |
|
Designation : |
Finance Head |
|
Contact No.: |
91-44-24320611 |
|
Date : |
11.11.2014 |
LOCATIONS
|
Registered Office/ Factory : |
No. 720, Anna Salai, Nandanam, Chennai – 600035, Tamilnadu, India |
|
Tel. No.: |
91-44-24320611 [4 Lines] |
|
Fax No.: |
91-44-24320284 |
|
E-Mail : |
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|
Website : |
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Branch Offices : |
Located at: · Ambala Cantt · New Delhi · Jaipur · Ahmedabad · Mumbai · Thrisur · Bangalore · Chennai · Vijayawada · Raipur · Bhopal · Kanpur · Patna · Ranchi · Kolkata |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Ramaswamy Samakkulam Ramalingam Iyer |
|
Designation : |
Whole-time director |
|
Address : |
19/5, III Main Road, Gandhinagar, Adyar, Chennai - 600020, Tamilnadu, India |
|
Date of Birth/Age : |
28.11.1949 |
|
Date of Appointment : |
17.04.2001 |
|
DIN No.: |
00064320 |
|
|
|
|
Name : |
Uma Ramaswamy Iyer |
|
Designation : |
Whole-time director |
|
Address : |
19/5, III Main Road, Gandhinagar, Adyar, Chennai - 600020, Tamilnadu, India |
|
Date of Birth/Age : |
16.11.1953 |
|
Date of Appointment : |
17.04.2001 |
|
DIN No.: |
00064605 |
|
|
|
|
Name : |
Raamganesh Samakkulam |
|
Designation : |
Director |
|
Address : |
19/5 Sairam, III Road Main Road, Gandhi Nagar, Adyar, Chennai - 600020, Tamilnadu, India |
|
Date of Birth/Age : |
16.09.1977 |
|
Date of Appointment : |
27.07.2009 |
|
DIN No.: |
02750280 |
|
|
|
|
Name : |
Karthikraman Samakulam |
|
Designation : |
Director |
|
Address : |
19/5, III Main Road, Gandhinagar, Adyar, Chennai - 600020, Tamilnadu, India |
|
Date of Birth/Age : |
18.12.1981 |
|
Date of Appointment : |
27.07.2009 |
|
DIN No.: |
02750283 |
|
|
|
|
Name : |
Bhagyalakshmi Gowrishankar |
|
Designation : |
Whole-time director |
|
Address : |
19/5, III Main Road, Gandhinagar, Adyar, Chennai - 600020, Tamilnadu, India |
|
Date of Birth/Age : |
02.05.1980 |
|
Date of Appointment : |
23.02.2011 |
|
DIN No.: |
00891374 |
|
|
|
|
Name : |
Ramanan Kalyanavenkita Ramalingam |
|
Designation : |
Director |
|
Address : |
B-303, Krishna Vilas, 6th Cross, Ashok Nagar, BSK 1st stage, Bangalore - 560050, Karnataka, India |
|
Date of Birth/Age : |
15.05.1958 |
|
Date of Appointment : |
27.07.2009 |
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DIN No.: |
02750299 |
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|
|
|
Name : |
Dhevarajan Ramalingam |
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Designation : |
Director |
|
Address : |
Race View Apartments, 25/5 Five Forlong Road, Guindy, Chennai - 600032, Tamilnadu, India |
|
Date of Birth/Age : |
27.05.1959 |
|
Date of Appointment : |
27.07.2009 |
|
DIN No.: |
02750309 |
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|
|
|
Name : |
Neeraja Ramakrishnan |
|
Designation : |
Director |
|
Address : |
No.19/5, Sairam, 3rd Main Road,, Gandhi Nagar, Adyar, Chennai - 600020, Tamilnadu, India |
|
Date of Birth/Age : |
17.05.1985 |
|
Date of Appointment : |
27.07.2009 |
|
DIN No.: |
02750320 |
KEY EXECUTIVES
|
Name : |
Mr. Murugavel |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
99.00 |
|
Others |
1.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Formulations. |
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Exports : |
-- |
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Imports : |
-- |
GENERAL INFORMATION
|
Suppliers : |
-- |
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Customers : |
-- |
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No. of Employees : |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
|||||||||||||||
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Bankers : |
· HDFC Bank Limited · Kotak Mahindra Bank Limited · UCO Bank · DBS Bank · State Bank of India |
|||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
R Srinivas Chartered Accountant |
|
Address : |
Flat No.9, Abhirami Royal, 73 First Avenue, Indira Nagar, Chennai –
600020, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGPS0116D |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 41.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
295,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.950 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.950 |
0.295 |
0.295 |
|
(b) Reserves & Surplus |
40.252 |
15.015 |
(18.809) |
|
(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) |
43.202 |
15.310 |
(18.514) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
35.425 |
73.577 |
112.570 |
|
(b) Deferred tax liabilities (Net) |
0.743 |
0.743 |
1.414 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
2.564 |
2.564 |
2.196 |
|
Total
Non-current Liabilities (3) |
38.732 |
76.884 |
116.180 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
22.871 |
11.486 |
11.538 |
|
(c)
Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Short-term provisions |
11.017 |
5.246 |
2.519 |
|
Total
Current Liabilities (4) |
33.888 |
16.732 |
14.057 |
|
|
|
|
|
|
TOTAL |
115.822 |
108.926 |
111.723 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
54.482 |
46.873 |
52.708 |
|
(ii)
Intangible Assets |
0.000 |
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
2.165 |
8.076 |
0.000 |
|
(d) Long-term Loan
and Advances |
4.472 |
3.978 |
3.490 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
61.119 |
58.927 |
56.198 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
12.279 |
|
(b)
Inventories |
31.495 |
28.858 |
23.149 |
|
(c)
Trade receivables |
7.390 |
6.784 |
6.736 |
|
(d)
Cash and cash equivalents |
15.516 |
14.044 |
13.141 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
0.302 |
0.313 |
0.220 |
|
Total
Current Assets |
54.703 |
49.999 |
55.525 |
|
|
|
|
|
|
TOTAL |
115.822 |
108.926 |
111.723 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL TURNOVER |
333.910 |
295.373 |
262.302 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
28.582 |
34.169 |
28.483 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
96.89 |
1158.27 |
965.53 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.82 |
4.81 |
(6.08) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61 |
2.99 |
3.95 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.295 |
0.295 |
2.950 |
|
Reserves & Surplus |
(18.809) |
15.015 |
40.252 |
|
Net
worth |
(18.514) |
15.310 |
43.202 |
|
|
|
|
|
|
Long-term borrowings |
112.570 |
73.577 |
35.425 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
112.570 |
73.577 |
35.425 |
|
Debt/Equity ratio |
(6.080) |
4.806 |
0.820 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Turnover |
262.302 |
295.373 |
333.910 |
|
|
|
12.608 |
13.047 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Turnover |
262.302 |
295.373 |
333.910 |
|
Profit |
28.483 |
34.169 |
28.582 |
|
|
10.86% |
11.57% |
8.56% |
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90295109 |
24/09/2004 |
620,000.00 |
UCO BANK |
ADYAR BRANCH, CHENNAI, TAMILNADU - 600020, INDIA |
- |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from Directors |
35.425 |
72.040 |
|
|
|
|
|
Total |
35.425 |
72.040 |
PERFORMANCE
During the year ended 31.03.2014, the company has made a total turnover to
the tune of Rs. 333.910 Millions as against the turnover of Rs. 295.373
Millions. The Profit after tax for the year ended 31.03.2014 was Rs. 28.582
Millions compared to the previous profit of Rs. 34.169 Millions. The
performance of the company for the current financial year is satisfactory and
the company is hopeful of better results.
FIXED ASSETS:
· Air Conditioner
· Computers
· Electrical Fittings
· Plant and Machinery
· Generators
· Vehicles
· Office Equipments
· Leasehold Building
· Weighing Machine
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. 61.55 |
|
|
1 |
Rs. 97.53 |
|
Euro |
1 |
Rs. 76.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.