MIRA
INFORM REPORT
|
Report Date : |
19.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
TWENTYFIRST CENTURY PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
360, SIDCO Estate, Chennai – 600098, Tamilnadu |
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Country : |
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|
Financials (as
on) : |
31.03.2013 (Consolidated) |
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Date of
Incorporation : |
21.03.1986 |
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|
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Com. Reg. No.: |
18-012817 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs. 13.447
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231TN1986PTC012817 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of pharmaceutical and neutraceutical
products. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 578000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for
business dealing. Trade relations are reported as 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 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 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BB” (Suspended) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
29.04.2013 |
Reason for Suspended: Non-cooperation by the company to carry
out rating.
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
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-44-26232775/ 76)
LOCATIONS
|
Registered Office/ Factory 1 : |
360, SIDCO Estate, Chennai – 600098, Tamilnadu, India |
|
Tel. No.: |
91-44-26232775/ 26232776 |
|
Fax No.: |
91-44-42152268 |
|
E-Mail : |
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|
Website : |
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|
|
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|
Factory 2 : |
Located at: Ø
Roorkee, Uttarakhand, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Vengandur Srikumar Raghunathan |
|
Designation : |
Managing Director |
|
Address : |
3A, Rupa No. 6, Rajan Street, T. Nagar, Chennai – 600017, Tamilnadu,
India |
|
Date of Birth/Age : |
27.09.1951 |
|
Date of Appointment : |
21.03.1986 |
|
DIN No.: |
01830356 |
|
|
|
|
Name : |
Mrs. Krishnaswamy Saroja |
|
Designation : |
Director |
|
Address : |
1489, 13th Main Road, Anna Nagar, Chennai – 600040,
Tamilnadu, India |
|
Date of Birth/Age : |
27.10.1950 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
01975085 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Vijaya Srinivasan |
30000 |
|
V.S. Vijayaraghavan |
221750 |
|
V.S. Krishnaswamy |
45000 |
|
V.S. Raghunathan |
517750 |
|
V.S. Rajasekaran |
36500 |
|
K. Saroja |
15000 |
|
Rajeswari V. |
3500 |
|
Vijayalakshmi Nagarajan |
32500 |
|
Hemamalini. R |
2500 |
|
R. Kamakshi |
6250 |
|
Srikrishnan |
15500 |
|
Sridharan |
15500 |
|
V.S. Srinivasan |
265000 |
|
V.K. Sriraman |
2250 |
|
V.K. Sriranjani |
2250 |
|
V. Arun |
1000 |
|
Perin Alfred |
55545 |
|
Srinivasan Murthy |
52665 |
|
C. Yogalatha |
24270 |
|
Total |
1344730 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
8.00 |
|
Directors or relatives of Directors |
92.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of pharmaceutical and neutraceutical
products. |
PRODUCTION STATUS (AS ON 31.03.2013)
(a) Chennai Unit
|
Particulars |
Unit |
Actual
Production |
|
Tablets |
Nos. |
32449610 |
|
Capsules |
Nos. |
112186280 |
|
Liquid |
Nos. |
Nil |
|
Dry Syrup0 |
Nos. |
Nil |
(b) Roorkee Unit
|
Particulars |
Unit |
Actual
Production |
|
Tablets |
Nos. |
57537318 |
|
Capsules |
Nos. |
Nil |
|
Liquid |
Nos. |
Nil |
|
Dry Syrup0 |
Nos. |
2645495 |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||||||||
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Bankers : |
· Canara Bank, SME Ambattur Branch, No.3, MTH Road, Padi, Chennai - 600050, Tamilnadu, India Centurion Bank of Punjab Limited, Padma Complex, 320, Anna
Salai, Nandanam, Chennai - 600035, Tamilnadu, India State Bank of India, Siruthozhil Branch, 320, Valluvar
Kottam High Road, Nungambakkam, Chennai - 600034, Tamilnadu, India |
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Facilities : |
NOTE Cash credit facility towards working capital purpose from bank is secured by hypothecation of stocks, receivables, all movable and immovable assets, factory land and building and further guaranteed by the directors. |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Sabapathy and Dhandapani Chartered Accountants |
|
Address : |
New No 81, Old No 47, Dr. Radhakrishnan Salai, Chennai – 600004,
Tamilnadu, India |
|
Tel. No.: |
91-44-28110900/ 42056568 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAPFS0207E |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,344,730 |
Equity Shares |
Rs. 10/- each |
Rs. 13.447
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
CONSOLIDATED |
||
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
13.447 |
13.447 |
13.447 |
|
(b) Reserves & Surplus |
131.075 |
97.778 |
80.103 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.001 |
0.001 |
0.001 |
|
Total
Shareholders’ Funds (1) + (2) |
144.523 |
111.226 |
93.551 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
101.950 |
106.644 |
126.517 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.250 |
0.250 |
0.250 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
102.200 |
106.894 |
126.767 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
71.997 |
70.580 |
49.100 |
|
(b) Trade payables |
125.459 |
123.901 |
90.456 |
|
(c) Other current
liabilities |
0.758 |
0.576 |
0.948 |
|
(d) Short-term provisions |
8.948 |
2.868 |
1.189 |
|
Total Current Liabilities (4) |
207.162 |
197.925 |
141.693 |
|
|
|
|
|
|
TOTAL |
453.885 |
416.045 |
362.011 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
226.332 |
216.609 |
218.924 |
|
(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) |
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 |
226.332 |
216.609 |
218.924 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
68.448 |
69.038 |
39.586 |
|
(c) Trade receivables |
148.226 |
121.989 |
90.620 |
|
(d) Cash and cash
equivalents |
4.177 |
3.077 |
7.004 |
|
(e) Short-term loans and
advances |
6.702 |
5.332 |
5.877 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
227.553 |
199.436 |
143.087 |
|
|
|
|
|
|
TOTAL |
453.885 |
416.045 |
362.011 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
562.383 |
446.974 |
367.054 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
483.022 |
388.262 |
332.542 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
79.361 |
58.712 |
34.512 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
26.630 |
26.178 |
20.847 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
52.731 |
32.534 |
13.665 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.712 |
9.933 |
8.634 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
42.019 |
22.601 |
5.031 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.722 |
4.833 |
0.926 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
33.297 |
17.768 |
4.105 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
12.688 |
0.442 |
NA |
|
|
TOTAL EARNINGS |
12.688 |
0.442 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
24.76 |
13.21 |
3.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.92 |
3.98 |
1.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.26 |
5.43 |
1.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.20 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.20 |
1.59 |
1.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.01 |
1.01 |
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 |
13.447 |
13.447 |
13.447 |
|
Reserves & Surplus |
80.103 |
97.778 |
131.075 |
|
Share Application money
pending allotment |
0.001 |
0.001 |
0.001 |
|
Net
worth |
93.551 |
111.226 |
144.523 |
|
|
|
|
|
|
long-term borrowings |
126.517 |
106.644 |
101.950 |
|
Short term borrowings |
49.100 |
70.580 |
71.997 |
|
Total
borrowings |
175.617 |
177.224 |
173.947 |
|
Debt/Equity
ratio |
1.877 |
1.593 |
1.204 |
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 |
367.054 |
446.974 |
562.383 |
|
|
|
21.773 |
25.820 |
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 |
367.054 |
446.974 |
562.383 |
|
Profit |
4.105 |
17.768 |
33.297 |
|
|
1.12% |
3.98% |
5.92% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10184865 |
30/05/2012 * |
236,900,000.00 |
CANARA BANK |
SME AMBATTUR, 3, MTH ROAD, PADI, CHENNAI - 600050, TAMILNADU, INDIA |
B40198897 |
|
2 |
90305919 |
13/11/1989 * |
100,000.00 |
CANARA BANK |
PERAMBUR BRANCH, 68; MADHUARAM HIGH ROAD, CHENNAI - 600011, TAMILNADU, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Due to Directors and Others |
9.335 |
3.513 |
|
Ducool Limited |
0.000 |
1.710 |
|
Total |
9.335 |
5.223 |
NTURE OF OPERATION
Subject was incorporated in 1986, by V S Raghunathan. It is engaged in the business of manufacture of pharmaceutical and neutraceutical products. It also undertake contract manufacturing for major pharmaceutical companies. It has owned two manufacturing units one in Chennai (Tamilnadu) and a newly set up unit in Roorkee (Uttarakhand).
PERFORMANCE AND
FUTURE OUTLOOK
Company has improved its performance in top line compared to previous year. The company has also achieved a net profit after tax of Rs. 33.297 Millions as compared to the previous year of Rs. 17.768 Millions.
The company has successfully completed a major expansion plan at Roorkee which is a ‘Duty Free Zone’ in UttaraKhand state by taking advantage of various tax sops.
The turnover of the Roorkee unit has increased to Rs. 374.780 Millions as compared to the previous year of Rs. 256.084 Millions and has achieved its breakeven to deliver a net profit after tax of Rs. 15.750 Millions.
The business prospects are excellent and the directors are confident of achieving higher growth in top and bottom line in the coming years.
CONTINGENT
LIABILITIES (AS ON 31.03.2013)
An excise duty demand has been raised for Rs. 3.439 Millions, in respect of which no provision has been made in the books of accounts as the company has gone on appeal and is confident of getting its appeal allowed based on the advice received from the experts (Previous year Rs. 3.439 Millions).
FIXED ASSETS
· Land
Factory
Building
Plant
and Machinery
Electrical
Installations
Laboratory
Equipments
Furniture
and Fittings
Office
Equipments
Tools
and Accessories
Computer
Utilities
Vehicle
– Motor Car
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.61.06 |
|
|
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.78.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.