MIRA INFORM REPORT
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Report No. : |
338214 |
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Report Date : |
25.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
GRANULES OMNICHEM PRIVATE LIMITED |
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Registered
Office : |
H. No. 1-123/MH/201, 2nd Floor and 3rd Floor, My Home Hub, Madhapur,
Hyderabad-500081, Telangana |
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Tel. No.: |
91- 40-66760000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.09.2011 |
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Com. Reg. No.: |
076274 |
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Capital
Investment / Paid-up Capital : |
Rs. 414.000 Million |
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CIN No.: [Company Identification
No.] |
U24233TG2011PTC076274 |
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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.] |
AAECG3850B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Bulk Drugs and Active Pharmaceutical Ingredients. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Even though the company was incorporated on 2nd September
2011 but it has recently commenced its business operations. Mr. Hari Krishna, Assistant General Manager in Finance, provided
information of the subject to us and claimed that the company started its
activities from October 2014. As per the financial of the year 2014, the company has incurred huge
pre-operating expenses which resulted into losses recorded by the company. Further, rating is constrained on account of company’s weak financial
position marked by low net worth base and leverage balance sheet profile of
the company. However, business is active. Payment terms are reported to be slow. In view of the aforesaid, company can be considered for business
dealings on safe and secure 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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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. Hari Krishna |
|
Designation : |
Assistant General Finance Manager |
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Contact No.: |
91-7702700898 |
|
Date : |
24.08.2015 |
LOCATIONS
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Registered/ Corporate Office : |
H. No. 1-123/MH/201, 2nd Floor and 3rd Floor, My Home Hub, Madhapur,
Hyderabad-500081, Telangana, India |
|
Tel. No.: |
91-40-66760000/ 891-2570444 |
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Mobile No.: |
91-7702700898 (Mr. Hari Krishna) |
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Fax No.: |
91-40-23115145 |
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E-Mail : |
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Website : |
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Factory : |
Plot No.121 and 122, Jawaharlal Nehru Pharmacy, Vishakhapatnam-531019,
Andhra Pradesh, India |
DIRECTORS
AS ON 17.07.2014
|
Name : |
Mr. Chigurupati Krishna Prasad |
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Designation : |
Nominee Director |
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Address : |
Plot No.512/M, Road No.31,, Jubilee Hills,,
Hyderabad-500033, Andhra Pradesh, India |
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Date of Birth/Age : |
02.10.1954 |
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Date of Appointment : |
02.09.2011 |
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DIN No.: |
00020180 |
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Other Directorship :
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Name : |
Mr. George Gwinnett Bompas |
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Designation : |
Nominee Director |
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Address : |
Rue Du Cortil Bailly 47, Lasne, Belgium, 1380, United
Kingdom |
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Date of Birth/Age : |
03.11.1960 |
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Date of Appointment : |
02.09.2011 |
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DIN No.: |
03587826 |
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Name : |
Mr. Peter Marcel Eliane Marie Stuyck |
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Designation : |
Nominee Director |
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Address : |
Heist-Op-Den-Berg Sedert, Hazenstraat 7, Belgium, 2220,
Belgium |
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Date of Birth/Age : |
17.06.1956 |
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Date of Appointment : |
02.09.2011 |
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DIN No.: |
03583387 |
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Name : |
Mr. Venkata Satyanarayana Murthy Vadali |
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Designation : |
Director |
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Address : |
Plot No 28 Sriramnagar Colony, Near Bk Guda Park Balkampet,
Hyderabad-500038, Andhra Pradesh, India |
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Date of Birth/Age : |
15.07.1955 |
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Date of Appointment : |
17.07.2014 |
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DIN No.: |
01568277 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Satya Brahmajee Kola |
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Designation : |
Secretary |
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Address : |
Flat No. 502 A, Landmark Towers, Miyapur, Hyderabad-500049, Andhra
Pradesh, India |
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Date of Birth/Age : |
04.07.1977 |
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Date of Appointment : |
26.09.2013 |
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PAN No.: |
AHTPK6889P |
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|
Name : |
Mr. Hari Krishna |
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Designation : |
Assistant General Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 17.07.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
SA Ajinomoto Omnichem NV, Belgium |
32580967 |
50.00 |
|
Granules India Limited, India |
32580967 |
50.00 |
|
Total |
65161934 |
100.00 |
AS ON 15.12.2014
|
Names of Allottees |
No. of Shares |
|
SA Ajinomoto Omnichem NV, Belgium |
10300000 |
|
Granules India Limited, India |
10300000 |
|
Total |
20600000 |
AS ON 17.07.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
50.00 |
|
Bodies
corporate |
50.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Bulk Drugs and Active Pharmaceutical
Ingredients. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Belgium |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· South Korea · China · Switzerland |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
150 (Approximately) |
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Bankers : |
·
ING Bank NV Singapore Branch 19-02
Republic Plaza, 9 Raffles Place,, Singapore - 048619, Singapore |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.
R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
Oval office, 18, Llabs
Centre, Hitech City, Madhapur, Hyderabad-500081, Andhra Pradesh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AGDPM5469N |
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Memberships : |
-- |
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Collaborators : |
-- |
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Joint venture : |
·
SA Ajinomoto Omnichem NV, Belgium ·
Granules India Limited, India
(L24110TG1991PLC012471) |
CAPITAL STRUCTURE
AFTER 17.07.2014
Authorised Capital : Rs. 950.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 754.619 Million
AS ON 17.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70000000 |
Equity Shares |
Rs. 10/- each |
Rs. 700.000 Million |
|
|
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65161934 |
Equity Shares |
Rs. 10/- each |
Rs. 651.619
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000000 |
Equity Shares |
Rs. 10/- each |
Rs. 450.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41400000 |
Equity Shares |
Rs. 10/- each |
Rs. 414.000
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 |
414.000 |
375.100 |
175.100 |
|
(b) Reserves & Surplus |
(19.769) |
(5.952) |
(2.257) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
38.900 |
30.000 |
|
Total
Shareholders’ Funds (1) + (2) |
394.231 |
408.048 |
202.843 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1486.377 |
695.438 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
8.578 |
2.705 |
0.000 |
|
(d)
long-term provisions |
1.179 |
0.172 |
0.000 |
|
Total
Non-current Liabilities (3) |
1496.134 |
698.315 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
4.178 |
2.042 |
1.369 |
|
(c)
Other current liabilities |
130.591 |
16.633 |
0.705 |
|
(d)
Short-term provisions |
7.486 |
0.059 |
0.371 |
|
Total
Current Liabilities (4) |
142.255 |
18.734 |
2.445 |
|
|
|
|
|
|
TOTAL |
2032.620 |
1125.097 |
205.288 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
155.135 |
153.577 |
2.496 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1704.579 |
343.248 |
9.632 |
|
(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 |
10.380 |
84.480 |
151.688 |
|
(e)
Other Non-current assets |
22.181 |
22.982 |
0.000 |
|
Total
Non-Current Assets |
1892.275 |
604.287 |
163.816 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d)
Cash and cash equivalents |
129.562 |
515.663 |
33.617 |
|
(e)
Short-term loans and advances |
0.643 |
1.564 |
7.855 |
|
(f)
Other current assets |
10.140 |
3.583 |
0.000 |
|
Total
Current Assets |
140.345 |
520.810 |
41.472 |
|
|
|
|
|
|
TOTAL |
2032.620 |
1125.097 |
205.288 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
0.701 |
0.327 |
|
|
|
|
Other expenses |
2.917 |
3.367 |
2.257 |
|
|
|
TOTAL |
3.618 |
3.694 |
2.257 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(3.618) |
(3.694) |
(Including
Financial Expenses) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.501 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(4.119) |
(3.694) |
(2.257) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.699 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(13.818) |
(3.694) |
(2.257) |
|
|
|
|
|
|
|
|
|
|
Earnings/
(Loss) Per Share (Rs.) |
(0.33) |
(0.10) |
(0.13) |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
39.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs. 1100.000 Million
The above information has been parted by Mr. Hari Krishna (Assistant
General Finance Manager)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
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) |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.26) |
(0.47) |
(1.15) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
(0.01) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.77 |
1.70 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
27.80 |
16.96 |
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 |
175.100 |
375.100 |
414.000 |
|
Reserves & Surplus |
(2.257) |
(5.952) |
(19.769) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
30.000 |
38.900 |
0.000 |
|
Net
worth |
202.843 |
408.048 |
394.231 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
695.438 |
1486.377 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
695.438 |
1486.377 |
|
Debt/Equity
ratio |
0.000 |
1.704 |
3.770 |
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 |
-- |
|
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% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
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 |
10423111 |
28/05/2013 * |
621,000,000.00 |
ING BANK NV SINGAPORE BRANCH |
19-02 REPUBLIC PLAZA, 9 RAFFLES PLACE, SINGAPORE, - 048619, SINGAPORE |
B77531762 |
|
2 |
10421575 |
28/05/2013 * |
621,000,000.00 |
DEG - DEUTSCHE INVESTITIONS - UND ENTWICKLUNGSGESE |
KAMMERGASSE 22, COLOGNE, - 50676, GERMANY |
B77888170 |
* Date of charge modification
REVIEW OF
OPERATIONS:
The company is
setting up 100% export oriented unit at Ramky Pharma City, SEZ, Parwada Mandal,
Vishakapatnam (AP) under the APIIC special economic zone to manufacture active pharmaceutical
ingredients. The joint venture Company is setting up 100% export oriented unit
at Ramky Pharma city, Parwada Mandal, Visakhapatnam (AP) under the APIIC
special economic zone to manufacture active pharmaceutical ingredients. The
construction of the unit and various installations are expected to be completed
in April 2014 and the trial production is expected to commence by end of June
2014. The Company plans to obtain all necessary regulatory approvals from the
U.S. Food and Drug Administration (FDA) and other regulatory authorities by
March 31, 2016.
CORPORATE INFORMATION:
Granules
Omnichem Private Limited (?the Company) was incorporated on September 2, 2011
as a 50:50 joint venture between Granules India Limited, India and SA Ajinomoto
Omnichem N.V, Belgium. The Company is engaged in the business of manufacture
and sale of pharmaceutical intermediates and active pharmaceutical ingredients
(APIs) and is setting up of a plant at Ramky Pharama City- SEZ situated in
Vishakhapatnam, Andhra Pradesh.
FIXED ASSETS:
Tangible Assets
·
Land
·
Furniture and Fixtures
·
Vehicles
·
Other Equipment
·
Computer Equipments
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 records 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. 66.51 |
|
|
1 |
Rs.
104.01 |
|
Euro |
1 |
Rs. 76.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
-- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
-- |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
12 |
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.