MIRA INFORM REPORT
|
Report No. : |
337400 |
|
Report Date : |
20.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
CRESCENT THERAPEUTICS LIMITED (w.e.f 27.03.2002) |
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|
|
Formerly Known
As : |
CRESCENT THERAPEUTICS PRIVATE LIMITED |
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Registered Office
: |
H. No 4-7-11/4/B, Crescent Towers, Raghavendra Nagar, Nacharam,
Hyderabad – 500076, Telangana |
|
Tel. No.: |
91-40-27178843 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.11.2000 |
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Com. Reg. No.: |
035708 |
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Capital
Investment / Paid-up Capital : |
Rs. 41.579 Million |
|
|
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CIN No.: [Company Identification
No.] |
U29297TG2000PLC035708 |
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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.] |
AABCC9421B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceutical Products, Pharmaceuticals Formulations,
Mask, Disposable Items, etc. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 : |
Crescent Therapeutics Limited was incorporated on 21st
November, 2000 it is established company having satisfactory track record. The company reported an operating income and net profit of Rs.463.300
Million and Rs.15.200 Million respectively in FY2014 as against an operating
income and net profit of Rs.304.100 Million and Rs.11.900 Million
respectively in FY2013. The rating take into account on company experienced promoters and
qualified professional management in the pharmaceutical industry and diversified
product mix with drugs covering several therapeutic segments. The ratings
also factor in comfortable capital structure with gearing of 0.84 times in
FY14. Moreover, the company has constructed plant with WHO-GMP standards and
having GMP certificate. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for business dealings at its
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank Facilities=B+ |
|
Rating Explanation |
Risk-prone-credit-quality and carries very
high credit risk |
|
Date |
May, 2015 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank Facilities=A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
May, 2015 |
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. Shiv Thakur |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-1795-271246 |
|
Date : |
19.08.2015 |
LOCATIONS
|
Registered Office : |
H. No 4-7-11/4/B, Crescent Towers, Raghavendra Nagar, Nacharam,
Hyderabad – 500076, Telangana, India |
|
Tel. No.: |
91-40-27178843/ 27170830/ 27171067 |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Factory : |
Khasra No 587/588, Village Khunjal, Jharmajri, Baddi, Nalagarh District Solan – 173205, Himachal Pradesh, India |
|
Tel. No.: |
91-91-1795-271246 |
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E-Mail : |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Shaik Janimiya |
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|
Designation : |
Managing Director |
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|
Address : |
H. No: 4-10-119/S-1, HMT Nagar, Street No:11, Nacharam, Hyderabad –
500076, Andhra Pradesh, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
31.08.1957 |
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Date of Appointment : |
08.03.2007 |
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DIN No.: |
01089672 |
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Other Directorship :
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Name : |
Mrs. Shaik Thahera |
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Designation : |
Director |
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Address : |
H. No: 4-10-119/S-1, Plot No 36, HMT Nagar, Street No:11, Nacharam,
Hyderabad – 500076, Andhra Pradesh, India
|
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Date of Birth/Age : |
18.05.1969 |
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Date of Appointment : |
27.03.2002 |
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DIN No.: |
01089807 |
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Other Directorship :
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Name : |
Mr. Yeluripati Venkata Vijaya Bhaskara Ramabhadra Chainulu |
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Designation : |
Director |
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|
Address : |
1-10-25, Block No 95, St No 3, Ashoknagar, Hyderabad - 500020, Andhra Pradesh, India |
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Date of Birth/Age : |
01.11.1941 |
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Date of Appointment : |
29.09.2007 |
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DIN No.: |
02611623 |
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Other Directorship :
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Name : |
Mr. Karakavenkata Venugopalakrishna Rao |
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Designation : |
Director |
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|
Address : |
23-195, NUZVID, Krishna – 521201, Andhra Pradesh, India |
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Date of Birth/Age : |
01.06.1963 |
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Date of Appointment : |
29.09.2007 |
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DIN No.: |
02611732 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Shiv Thakur |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2014
|
Names of Shareholders |
No. of Shares |
|
SK. Janimiya |
3080000 |
|
SK. Thahera |
680000 |
|
Y.V.V.B.R. Chainulu |
12305 |
|
K.V.V.G. Krishna Rao |
100 |
|
SK. Javeed |
227395 |
|
A. Parameshwar Rao |
100 |
|
MD. Moinuddin |
100 |
|
Y. Rama Rao |
157900 |
|
Total |
4157900 |
AS ON 26.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
95.90 |
|
Other
top fifty shareholders |
4.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Products, Pharmaceuticals
Formulations, Mask, Disposable Items, etc. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Pharmaceutical Product |
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Countries : |
· Sri Lanka · Kenya |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
Advance Payment, Cheque and Credit (60 days and 90 days) |
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Purchasing : |
Advance Payment, Cheque and Credit (60 days and 90 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
· Aarti Drugs Limited · Biotavia Pharma Limited · Cadila Pharmaceutical Limited · Cipla Limited · Elder Pharma Limited · Ferring Pharmaceutical Limited · Intas Pharmaceutical Limited · Mankind Pharma Limited |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
·
Andhra Bank SME
Mallapur, Mallapur, Hyderabad - 500076, Andhra Pradesh, India ·
Canara Bank |
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Facilities : |
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Auditors : |
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|
Name : |
Ashwani K Gupta and Associates Chartered Accountants |
|
Address : |
1105, Sector21 B, Chandigarh-160022, Punjab, India |
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Income-tax
PAN of auditor or auditor's firm : |
AACFA3955A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
· Crescent Formulation Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs. 10/- each |
Rs. 45.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4157900 |
Equity Shares |
Rs. 10/- each |
Rs. 41.579
Million |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
41.579 |
40.000 |
40.000 |
|
(b) Reserves & Surplus |
82.062 |
65.726 |
53.749 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
8.587 |
12.154 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
132.228 |
117.880 |
93.749 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
48.868 |
39.744 |
55.149 |
|
(b) Deferred tax liabilities (Net) |
10.915 |
9.553 |
8.102 |
|
(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) |
59.783 |
49.297 |
63.251 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
56.198 |
49.496 |
42.962 |
|
(b)
Trade payables |
82.885 |
37.972 |
17.406 |
|
(c)
Other current liabilities |
24.766 |
22.912 |
34.014 |
|
(d)
Short-term provisions |
4.146 |
3.358 |
2.516 |
|
Total
Current Liabilities (4) |
167.995 |
113.738 |
96.898 |
|
|
|
|
|
|
TOTAL |
360.006 |
280.915 |
253.898 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
152.331 |
142.925 |
140.872 |
|
(ii)
Intangible Assets |
1.200 |
1.200 |
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 |
153.531 |
144.125 |
140.872 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
81.823 |
61.817 |
46.051 |
|
(c)
Trade receivables |
98.847 |
53.932 |
44.244 |
|
(d)
Cash and cash equivalents |
1.036 |
0.291 |
0.177 |
|
(e)
Short-term loans and advances |
3.164 |
2.707 |
2.510 |
|
(f)
Other current assets |
21.605 |
18.043 |
20.044 |
|
Total
Current Assets |
206.475 |
136.790 |
113.026 |
|
|
|
|
|
|
TOTAL |
360.006 |
280.915 |
253.898 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
462.807 |
301.303 |
252.935 |
|
|
|
Other Income |
0.524 |
2.843 |
0.400 |
|
|
|
TOTAL (A) |
463.331 |
304.146 |
253.335 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
348.652 |
210.214 |
146.850 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(2.742) |
2.558 |
21.080 |
|
|
|
Employees benefits expense |
24.838 |
18.812 |
17.494 |
|
|
|
Other expenses |
48.128 |
34.171 |
29.942 |
|
|
|
Prior Period Expenses |
0.000 |
0.000 |
0.195 |
|
|
|
TOTAL (B) |
418.876 |
265.755 |
215.561 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
44.455 |
38.391 |
37.774 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.654 |
14.363 |
17.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.801 |
24.028 |
20.752 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.077 |
7.242 |
7.179 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.724 |
16.786 |
13.573 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.509 |
4.809 |
4.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
15.215 |
11.977 |
9.423 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.66 |
2.99 |
2.36 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
300.000 |
|
|
|
|
(Due to received less order the sales turnover had decrease in the
year 14-15) |
The above information has been parted by Mr. Shiv Thakur (Accounts
Department)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
18.534 |
0.000 |
13.750 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.29 |
3.98 |
3.73 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
9.61 |
12.74 |
14.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.76 |
5.98 |
5.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.14 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.93 |
0.76 |
1.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.20 |
1.17 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
40.000 |
40.000 |
41.579 |
|
Reserves & Surplus |
53.749 |
65.726 |
82.062 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
12.154 |
8.587 |
|
Net
worth |
93.749 |
117.880 |
132.228 |
|
|
|
|
|
|
Long-term borrowings |
55.149 |
39.744 |
48.868 |
|
Short term borrowings |
42.962 |
49.496 |
56.198 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
13.750 |
0.000 |
18.534 |
|
Total
borrowings |
111.861 |
89.240 |
123.600 |
|
Debt/Equity
ratio |
1.193 |
0.757 |
0.935 |
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 |
252.935 |
301.303 |
462.807 |
|
|
|
19.123 |
53.602 |
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 |
252.935 |
301.303 |
462.807 |
|
Profit |
9.423 |
11.977 |
15.215 |
|
|
3.73% |
3.98% |
3.29% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 three years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10527569 |
02/09/2014 |
154,300,000.00 |
ANDHRA BANK |
SME, MALLAPUR, HYDERABAD, HYDERABAD-500076, TELANGANA , INDIA |
C31028459 |
|
2 |
10304578 |
30/08/2011 |
3,000,000.00 |
DIRECTOR OF INDUSTRIES HIMACHAL PRADESH |
THROUGH DY.
DIRECTOR OF INDUSTRIES,, SINGLE WINDO |
B19774975 |
|
3 |
90121810 |
15/06/2004 |
559,565.00 |
ICICI BANK LIMITED |
ICICI TOWERS BANDRA
KURLA COMPLEX, MUMBAI, MAHARAS |
- |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Unsecured Loans from NBFC |
1.644 |
2.939 |
|
Other loans |
22.108 |
19.108 |
|
|
|
|
|
Total |
23.752 |
22.047 |
INDUSTRIAL SCENARIO:
The Indian Pharmaceutical Industry is the third largest in the world and is growing at about 8% annually and is expected to touch USD 20 billion by 2015.The present domestic market is controlled to the extent of about 70% by top 250 companies and raise to the level of feasible turnover, These units need to improve the expertise to meet the challenges of technological developments by suitable training and have adequate finance for technological up-gradation and adoption of good manufacturing practices (GMP) to meet global quality standards.
FUTURE OUTLOOK:
The Company with its world class and GMP compliant manufacturing facilities, qualified and experienced team of professionals, continued enquiries from leading domestic Companies for using the infrastructure hopes to improve its turnover in the coming years to the satisfaction of all stakeholders. The Company is aiming to capture the overseas market in third world countries and product registration with several countries like Sri Lanka. Vietnam, Myanmar is under process. The Company is in touch with the prospective buyers from these countries. One product Ambitext 30 was registered with Sri Lanka Govt. and exports commenced in 2014-15.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
· Computer
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. 65.25 |
|
|
1 |
Rs. 102.25 |
|
Euro |
1 |
Rs. 72.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
MAN |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.