MIRA INFORM REPORT
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Report No. : |
335442 |
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Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
MIDAS CARE PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
Lotus Corporate Park, B WING, 3rd Floor, Graham Firth
Compound, Near Western Express Highway, Goregaon (East), Mumbai – 400063,
Maharashtra |
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Tel. No.: |
91-22-26833409 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
16.05.1986 |
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Com. Reg. No.: |
11-039852 |
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Capital
Investment / Paid-up Capital : |
Rs.0.909 Million |
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CIN No.: [Company Identification
No.] |
U24239MH1986PTC039852 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACM4264B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of pharmaceuticals, medical,
chemical preparations and compounds, drugs and formulations. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company and is a part of Midas Care group, year 1986. It has a satisfactory track record. Management has reported healthy operational activity marked by decent sales turnover and top line growth of 17.2% along with profitability margin of 2.5% during the year, under a review. The rating takes into consideration the company's decent financial risk profile backed by adequate net worth position and low borrowings taken by the company along with favourable gap between trade payables sand receivables. The general financial position of the company is acceptable. Trade relations are fair. Business is active. Payments terms are usually correct. In view of long business track record, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term bank loan facilities: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
18.08.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term bank loan facilities: A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
18.08.2014 |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Manendra Soni |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-42193900 |
|
Date : |
04.08.2015 |
LOCATIONS
|
Registered / Corporate Office : |
Lotus Corporate Park, B WING, 3rd Floor, Graham Firth Compound,
Near Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra,
India |
|
Tel. No.: |
91-22-42193901 / 40193900 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory: |
Located at
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Branch Office: |
Located at
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DIRECTORS
AS ON 29.09.2014
|
Name : |
Mrs. Sangithaa Brijbandhu Gupta |
|
Designation : |
Manager Director |
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Address : |
601, “Raheja Orchid”, Plot No.47, 9th Road, JVPD, Juhu,
Vile Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
27.11.1962 |
|
Date of Appointment : |
15.09.1986 |
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DIN No.: |
00645197 |
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|
|
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Name : |
Mrs. Shivangi Brijbandhu Gupta |
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Designation : |
Director |
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Address : |
601, “Raheja Orchid”, Plot No.47, 9th Road, JVPD, Juhu, Vile
Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
21.10.1987 |
|
Date of Appointment : |
21.10.2005 |
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DIN No.: |
00645465 |
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|
|
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Name : |
Mr. Nandan Brijbandhu Gupta |
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Designation : |
Director |
|
Address : |
601, “Raheja Orchid”, Plot No.47, 9th Road, JVPD, Juhu,
Vile Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
11.01.1991 |
|
Date of Appointment : |
01.03.2011 |
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DIN No.: |
03245153 |
KEY EXECUTIVES
|
Name : |
Mr. Manendra Soni |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders (Equity Shareholders) |
No. of Shares |
|
Sangithaa Gupta |
467 |
|
Midas Care Holdings Private Limited, India |
59000 |
|
Nandan Gupta |
417 |
|
Shivangi Gupta |
16 |
|
Total |
59900 |
|
Names of Shareholders (Preference Shareholders) |
No. of Shares |
|
Sangithaa Gupta |
13000 |
|
Nandan Gupta |
9000 |
|
Shivangi Gupta |
9000 |
|
Total |
31000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of pharmaceuticals, medical,
chemical preparations and compounds, drugs and formulations. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End users
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
Arora and Arora Chartered Accountants |
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Address : |
2601A Glen
Classic, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFA2147F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
CIN
No.: U65990MH1986PTC041437 |
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Group Company where
common control exists: |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
60000 |
Equity Shares |
Rs.10/- each |
Rs.0.600 Million |
|
40000 |
Preference Shares |
Rs.10/- each |
Rs.0.400 Million |
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|
|
|
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Total |
|
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
59900 |
Equity Shares |
Rs.10/- each |
Rs.0.599 Million |
|
31000 |
Preference Shares |
Rs.10/- each |
Rs.0.310 Million |
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|
|
|
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Total |
|
Rs.0.909 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
0.909 |
0.909 |
0.909 |
|
(b) Reserves & Surplus |
571.924 |
512.646 |
450.956 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
572.833 |
513.555 |
451.865 |
|
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(3) Non-Current Liabilities |
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|
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(a) long-term borrowings |
110.209 |
155.238 |
135.703 |
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(b) Deferred tax liabilities
(Net) |
0.170 |
8.543 |
6.250 |
|
(c) Other long term
liabilities |
6.461 |
6.461 |
6.461 |
|
(d) long-term provisions |
9.166 |
8.876 |
11.025 |
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Total
Non-current Liabilities (3) |
126.006 |
179.118 |
159.439 |
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(4) Current Liabilities |
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(a) Short term borrowings |
268.220 |
259.450 |
178.377 |
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(b) Trade payables |
239.999 |
167.753 |
195.255 |
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(c) Other current liabilities |
123.098 |
95.394 |
56.510 |
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(d) Short-term provisions |
22.773 |
18.668 |
20.654 |
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Total
Current Liabilities (4) |
654.090 |
541.265 |
450.796 |
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TOTAL |
1352.929 |
1233.938 |
1062.100 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
436.641 |
460.672 |
327.764 |
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(ii) Intangible Assets |
2.197 |
3.662 |
1.541 |
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(iii) Capital work-in-progress |
19.351 |
12.835 |
67.692 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
45.690 |
5.690 |
22.562 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.654 |
46.164 |
80.407 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
513.533 |
529.023 |
499.966 |
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(2) Current assets |
|
|
|
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(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
327.319 |
168.062 |
170.686 |
|
(c) Trade receivables |
347.432 |
347.747 |
205.102 |
|
(d) Cash and cash equivalents |
103.329 |
139.665 |
128.459 |
|
(e) Short-term loans and
advances |
34.718 |
31.769 |
45.189 |
|
(f) Other current assets |
26.598 |
17.672 |
12.698 |
|
Total
Current Assets |
839.396 |
704.915 |
562.134 |
|
|
|
|
|
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TOTAL |
1352.929 |
1233.938 |
1062.100 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2259.864 |
1927.530 |
2166.446 |
|
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Other Income |
30.606 |
28.471 |
24.280 |
|
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TOTAL |
2290.470 |
1956.001 |
2190.726 |
|
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EXPENSES |
2165.390 |
1840.444 |
2093.601 |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
125.080 |
115.557 |
97.125 |
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DEPRECIATION/
AMORTISATION |
55.669 |
48.701 |
34.881 |
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PROFIT/ (LOSS)
BEFORE TAX |
69.411 |
66.855 |
62.245 |
|
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TAX |
14.446 |
20.769 |
21.775 |
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PROFIT/ (LOSS)
AFTER TAX |
54.965 |
46.086 |
40.470 |
|
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PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
393.870 |
347.783 |
307.314 |
|
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Balance
Carried to the B/S |
448.834 |
393.870 |
347.783 |
|
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IMPORTS |
|
|
|
|
|
Raw Materials |
254.399 |
236.226 |
193.889 |
|
|
Capital Goods |
6.449 |
0.000 |
1.773 |
|
|
Others |
13.915 |
0.772 |
0.545 |
|
|
TOTAL
IMPORTS |
274.763 |
236.998 |
196.207 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
917.61 |
768.98 |
677.00 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
2720.000 |
The above information has been parted by Mr. Mahendra Soni
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
15.553 |
19.156 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
97.181 |
14.763 |
NA |
EY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.43 |
2.39 |
1.87 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.53 |
6.00 |
4.48 |
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.39 |
5.50 |
6.40 |
|
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|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.13 |
0.14 |
|
|
|
|
|
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|
Debt Equity Ratio (Total Debt /Networth) |
|
0.69 |
0.84 |
0.70 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.30 |
1.25 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.909 |
0.909 |
0.909 |
|
Reserves & Surplus |
450.956 |
512.646 |
571.924 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
451.865 |
513.555 |
572.833 |
|
|
|
|
|
|
long-term borrowings |
135.703 |
155.238 |
110.209 |
|
Short term borrowings |
178.377 |
259.450 |
268.220 |
|
Current maturities of
long-term debts |
0.000 |
19.156 |
15.553 |
|
Total
borrowings |
314.080 |
433.844 |
393.982 |
|
Debt/Equity
ratio |
0.695 |
0.845 |
0.688 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2166.446 |
1927.530 |
2259.864 |
|
|
|
(11.028) |
17.241 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2166.446 |
1927.530 |
2259.864 |
|
Profit |
40.470 |
46.086 |
54.965 |
|
|
1.87% |
2.39% |
2.43% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office address
of the company has been shifted from Papa Industrial Estate, 40 Suren Road,
Andheri (East), Mumbai – 400093, Maharashtra, India to the present address
w.e.f. 24.02.2013
MANAGEMENT DISCUSSION
AND ANALYSIS
FINANCIAL PERFORMANCE
AND OPERATIONS REVIEW
The Company has achieved Turnover of Rs. 2259.864 Million compared to Rs.1927.530 Million in the previous year showing a growth of 17.24% during the year. There was growth in all sectors of operations ie. Contract Manufacturing, Sale of own brands, as Exports etc. The Export division's turnover has grown almost by 60%. The Company has continued giving much thrust on the promotion of its own brands through electronic media as there has been Substantial increase in advertisement spending. During the year new categories and products were added in C and D Brand which is showing promising growth.
The Volume in Metered Dose Inhalation Aerosol is witnessing increase year after year and special thrust is been given to the exports in this category. As a result of addition of new capacities there is substantial growth in the volumes of Tin and Aluminium Cans being manufactured at Una facility, The turnover there has grown by 58%.
OPERATIONS
The overall efficiency has improved on account of better volumes. The additional capacities of Aluminium cans are now fully operational. The company is also planning to replace old Aerosol filling line with a new improved line of higher capacity and efficiency at its Waluj location. The Company had continued its Research and Development work in the field of high tech aerosols and is laying more emphasis on the new propellants.
AWARD AND RECOGNITION
MidasCare is a proud winner of the prestigious ICICI – CNBC TV18 Emerging India Award 2013 for the 'Most Socially Responsible SME' for its MidasCare SwarnPrabha initiative. The Managing Director, has also bagged the award for 'Woman Entrepreneur of the Year, 2013'.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10458591 |
16/07/2014 * |
145,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJ |
C13934195 |
|
2 |
10325152 |
28/11/2011 |
25,000,000.00 |
DEUTSCHE BANK AG |
110, SIDRAH, S.V.
ROAD, KHAR (WEST), MUMBAI, MAHAR |
B28559508 |
|
3 |
10131253 |
15/07/2014 * |
502,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W |
C21201728 |
|
4 |
10067022 |
12/11/2012 * |
547,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B62295175 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.63.93 |
|
UK Pound |
1 |
Rs.99.82 |
|
Euro |
1 |
Rs.70.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
|
--PROFITABILITY |
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 |
YES |
|
--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.