MIRA
INFORM REPORT
|
Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
GRACURE PHARMACEUTICALS LIMITED |
|
|
|
|
Registered
Office : |
251-254, 2nd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.06.1992 |
|
|
|
|
Com. Reg. No.: |
55-049002 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28.240 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232DL1992PLC049002 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Product |
|
|
|
|
No. of Employees
: |
160 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory Track record. General financial positon of the company seems to be sound and healthy.
Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 wilfully 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Dinesh |
|
Designation : |
Account Department |
|
Contact No.: |
91-11-47770900 |
|
Date : |
02.10.2014 |
LOCATIONS
|
Registered Office : |
251-254, 2nd Floor, DLF Tower, 15, Shivaji Marg, New
Delhi-110015, India |
|
Tel. No.: |
91-11-47770900 |
|
Fax No.: |
91-11-47770999 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
E-1105, Bhiwadi Industrial Area, Phase-III, Rajasthan, India |
DIRECTORS
As on 25.09.2013
|
Name : |
Mr. Amreshwar Sahai Bhargava |
|
Designation : |
Managing Director |
|
Address : |
I - 7, Kirti Nagar, New Delhi-110015, India |
|
Date of Birth/Age : |
10.11.1944 |
|
Date of Appointment : |
25.11.1992 |
|
DIN No.: |
00004468 |
|
|
|
|
Name : |
Mr. Parag Bhargava |
|
Designation : |
Whole Time Director |
|
Address : |
I - 7, Kirti Nagar, New Delhi-110015, India |
|
Date of Birth/Age : |
14.12.1980 |
|
Date of Appointment : |
10.08.2002 |
|
DIN No.: |
00004475 |
|
Name : |
Mr. Pradeep Kumar Rastogi |
|
Designation : |
Whole Time Director |
|
Address : |
B-77, Oriental Apartments, Plot No. 50, Sector
9, Rohini, New Delhi-110085, India |
|
Date of Birth/Age : |
30.06.1960 |
|
Date of Appointment : |
13.03.2002 |
|
DIN No.: |
00004480 |
|
|
|
|
Name : |
Mr. Sudhir Bhargava |
|
Designation : |
Whole Time Director |
|
Address : |
A - 04, Aashiana Greens, Bhiwadi-301019,
Rajasthan, India |
|
Date of Birth/Age : |
22.06.1953 |
|
Date of Appointment : |
27.11.2001 |
|
DIN No.: |
00004491 |
|
|
|
|
Name : |
Mr. Chandreshwar Sahai Bhargava |
|
Designation : |
Director |
|
Address : |
H. No. 1017, Sector 37, Faridabad-121003,
Haryana, India |
|
Date of Birth/Age : |
05.08.1954 |
|
Date of Appointment : |
06.01.2001 |
|
DIN No.: |
00015088 |
|
|
|
|
Name : |
Mr. Harshad Vaid |
|
Designation : |
Director |
|
Address : |
32, Gujarat Vihar, Vikas Marg Preet Vihar,
Delhi-110092, India |
|
Date of Birth/Age : |
09.06.1954 |
|
Date of Appointment : |
05.05.1995 |
|
DIN No.: |
00015098 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2013
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
12.18 |
|
Directors or relatives of Directors |
77.85 |
|
Other |
9.97 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Product |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Belgium ·
Netherland |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Tablets |
In Lacs |
21900.00 |
4028.68 |
|
Capsules |
In Lacs |
6216.00 |
566.91 |
|
Dry Syrup |
Bottles in Lacs |
144.00 |
9.47 |
|
Liquid Injectables (Inding Eye/ Ear Drops) |
Vials / Amp. In
Lacs |
225.00 |
5.85 |
|
Liquid Syrup |
Bottles In Lacs |
146.00 |
66.38 |
|
Ointments |
Tubes In Lacs |
100.00 |
3.96 |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
160 (Approximately) |
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Bankers : |
·
ICICI Bank Limited, Landmark Race Cource Circle,
Alkapuri, Baroda-390015, Gujarat, India |
|||||||||||||||
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Dadu Dadoo and Associates Chartered Accountant |
|
Address : |
C-13, Mansarover Garden, New Delhi-110015, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD8402H |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5250000 |
Equity Shares |
Rs.10/- each |
Rs. 52.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2824000 |
Equity Shares |
Rs.10/- each |
Rs. 28.240
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 |
28.240 |
28.240 |
28.240 |
|
(b) Reserves & Surplus |
228.467 |
193.906 |
166.424 |
|
(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) |
256.707 |
222.146 |
194.664 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
9.482 |
25.810 |
34.994 |
|
(b) Deferred tax liabilities
(Net) |
27.881 |
26.335 |
24.752 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
37.363 |
52.145 |
59.746 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
10.157 |
|
(b) Trade payables |
214.193 |
173.641 |
118.731 |
|
(c) Other current liabilities |
11.439 |
7.304 |
7.583 |
|
(d) Short-term provisions |
22.180 |
18.345 |
29.538 |
|
Total
Current Liabilities (4) |
247.812 |
199.290 |
166.009 |
|
|
|
|
|
|
TOTAL |
541.882 |
473.581 |
420.419 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
242.358 |
206.579 |
210.139 |
|
(ii) Intangible Assets |
2.341 |
2.454 |
2.000 |
|
(iii) Capital work-in-progress |
12.658 |
0.897 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
257.357 |
209.930 |
212.139 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
54.285 |
51.148 |
34.195 |
|
(c) Trade receivables |
133.676 |
106.700 |
79.834 |
|
(d) Cash and cash equivalents |
57.751 |
42.904 |
25.826 |
|
(e) Short-term loans and
advances |
38.813 |
62.899 |
68.425 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
284.525 |
263.651 |
208.280 |
|
|
|
|
|
|
TOTAL |
541.882 |
473.581 |
420.419 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
574.052 |
524.021 |
402.655 |
|
|
Other Income |
13.024 |
13.700 |
(2.787) |
|
|
TOTAL
(A) |
587.076 |
537.721 |
399.868 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
344.421 |
321.518 |
236.407 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
2.100 |
(1.960) |
(0.142) |
|
|
Employees benefits expense |
48.930 |
38.091 |
27.293 |
|
|
Other expenses |
111.961 |
110.482 |
80.853 |
|
|
TOTAL
(B) |
507.412 |
468.131 |
344.411 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
79.664 |
69.590 |
55.457 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.317 |
4.079 |
4.280 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
77.347 |
65.511 |
51.177 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
15.777 |
14.819 |
14.461 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
61.570 |
50.692 |
36.716 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
19.761 |
16.646 |
11.161 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
41.809 |
34.046 |
25.555 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
176.641 |
152.158 |
NA |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
4.200 |
3.000 |
NA |
|
|
Dividend |
6.213 |
5.648 |
NA |
|
|
Tax on Dividend |
1.034 |
0.916 |
NA |
|
|
Balance
Carried to the B/S |
207.003 |
176.640 |
NS |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export Earnings |
NA |
NA |
294.797 |
|
|
TOTAL
EARNINGS |
NA |
NA |
294.797 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
15.35 |
12.61 |
9.85 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.12 |
6.33 |
6.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.73 |
9.67 |
9.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.63 |
10.72 |
8.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.23 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.04 |
0.12 |
0.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.32 |
1.25 |
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 |
28.240 |
28.240 |
28.240 |
|
Reserves & Surplus |
166.424 |
193.906 |
228.467 |
|
Net
worth |
194.664 |
222.146 |
256.707 |
|
|
|
|
|
|
long-term borrowings |
34.994 |
25.810 |
9.482 |
|
Short term borrowings |
10.157 |
0.000 |
0.000 |
|
Total
borrowings |
45.151 |
25.810 |
9.482 |
|
Debt/Equity
ratio |
0.232 |
0.116 |
0.037 |
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 |
402.655 |
524.021 |
574.052 |
|
|
|
30.141 |
9.548 |
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 |
402.655 |
524.021 |
574.052 |
|
Profit |
25.555 |
34.046 |
41.809 |
|
|
6.35% |
6.50% |
7.28% |
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 |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
NOTE
Registered office has been shifted from 107, Magnum House, Ikram Pura Complex,
Shivaji Marg, New Delhi-110015, India to the present address w.e.f. 11.04.2013.
OPERATION
The company has achieved sales of Rs. 548.427 Millions, out of which Rs.
475.634 Millions were through export only, i.e. export constituted
approximately 87% of the total turnover. The company expects to improve this
percentage further in the financial year 2013-2014. Further, the company has
carried forward Rs.207.003 Millions of net profit to the balance sheet. The EPS
this year stands at Rs.1.535 Millions.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90062917 |
08/01/2010 * |
65,800,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A77883817 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Vehicles
·
Electric Installation and
Fitting
·
Flats
·
Generator
·
Air Conditioner
·
Transformers
·
Computer
·
Furniture and Fixtures
·
Lab Equipments
·
Office Equipments
·
Fan and Exhaust Fan
·
Fax Machines
·
Water Cooler
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.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.