MIRA INFORM REPORT

 

 

Report No. :

353496

Report Date :

09.12.2015

 

IDENTIFICATION DETAILS

 

Name :

DR. BATRAS’ POSITIVE HEALTH CLINIC PRIVATE LIMITED

 

 

Formerly Known As :

POSITIVE HEALTH CLINIC PRIVATE LIMITED

 

 

Registered Office :

Office No. 7 and 8, Arcadia Premises Co-operative Society Limited, Third Floor, 195, Nariman Point, Mumbai – 400021, Maharashtra

Tel. No.:

91-22-33671200

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

25.01.1999

 

 

Com. Reg. No.:

11-118005

 

 

Capital Investment / Paid-up Capital :

Rs. 87.500 Million

 

 

CIN No.:

[Company Identification No.]

U85110MH1999PTC118005

 

 

IEC No.:

Not Divulged 

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject Operates a Chain of Multi-Speciality Homeopathic Clinics and also Providing Medical Consultancy Services (Registered activity)

 

 

No. of Employees :

Information declined by management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (53)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good 

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear 

 

 

Comments :

Subject belongs to Dr. Batra's Group companies. It is India's largest chain of Homeopathic clinics providing individualized treatment and care to patients. It is old and reported company having fine track. The subject has many wholly owned subsidiaries.

 

Management has failed to file its latest financials for the year 2015 with the government department.

 

The ratings takes into consideration strong financial risk profile of the company marked adequate networth base along with comfortable debt level in the year 2014.Further, the company has reported decent operational efficiency marked by decent profit margin in the year under consideration.

 

Trade relations are fair.  Business is active. Payment terms are reported to be regular and as per commitments.

 

In view of strong brand recognition along with decent financial condition, the company can be considered for business dealings with 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

 

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 31-03-2015.

 

 

INFORMATION DECLINED

 

MANAGEMENT NON CO-OPERATIVE

 

(TEL. NO.: 91-22-33671200)

 

 

LOCATIONS

 

Registered Office :

Office No. 7 and 8, Arcadia Premises Co-operative Society Limited, Third Floor, 195, Nariman Point, Mumbai – 400021, Maharashtra, India

Tel. No.:

91-22-33671200/ 66242500

Fax No.:

Not Available

E-Mail :

amcs@drbatras.com

taxation1@drbatras.com

Website :

http://www.drbatras.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Mukesh Munish Batra

Designation :

Managing Director

Address :

33, Maker Towers 'H', Cuffe Parade, Mumbai - 400005, Maharashtra, India

Date of Appointment :

25.01.1999

PAN No.:

AAAPB9837G

DIN No.:

00302739

 

 

Name :

Mr. Akshay Mukesh Batra

Designation :

Managing Director

Address :

5th Floor, R - 1, Atur Terraces, 8 and 9, Cuffe Parade, Colaba,, Mumbai - 400005, Maharashtra, India

Date of Appointment :

25.01.1999

DIN No.:

00302825

 

 

Name :

Bindu Manoj Sharma

Designation :

Director

Address :

A-302, Royal Classic, Next To City Mall,, New Link Road, Andheri East, Mumbai -400058, Maharashtra, India

Date of Birth/Age :

08.08.1968

Date of Appointment :

31.01.2009

DIN No.:

00334750

 

 

KEY EXECUTIVES

 

Name :

Mr. Shirish Sule

Designation :

Secretary

Address :

1/B, Eknath Darshan,Eknath Mhatre Nagar, Kerosene Depot Lane,Dombivli (East), Thane -421201, Maharashtra, India

Date of Birth/Age :

10.03.1961

Date of Appointment :

21.02.2011

PAN No.:

CCHPS3595M

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

 

Mukesh Munish Batra

 

8674750

Akshay Mukesh Batra

 

50000

Pranav Mukesh Batra

 

25000

Mukesh Munish Batra (HUF)

 

250

Total

 

 

8750000

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject Operates a Chain of Multi-Speciality Homeopathic Clinics and also Providing Medical Consultancy Services (Registered activity)

 

 

Products :

ITC Code No.

 

Product Descriptions

99931991

Homeopathy Health and Wellness

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Information declined by management

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         ICICI Bank Limited

ICICI Bank Towers, Bandra Kurla Complex,, Mumbai - 400051, Maharashtra, India

 

·         Axis Bank Limited

Ground Floor, Axis House, Bombay Dyeing Mills Compound, P B Marg, Worli, Mumbai - 400025, Maharashtra, India

 

·         Yes Bank Limited

Nehru Centre, 9th  Floor, Discovery of India, Dr. A.B. Road, Worli, Mumbai – 400018, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

Loans repayable on demand from banks

70.447

22.317

 

 

 

Total

 

70.447

22.317

 

Auditors :

 

Name :

A Bafna and Company

Chartered Accountants

Address :

105 C, Sai Classic, 90 Feet Road , Gavanpada, Mulund (East), Mumbai – 400081, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AAGFA3909A

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiaries :

·         Dr. Batra's B Perfect Private Limited (U85110MH2008PTC184008)

·         Dr. Batra's Homeopathic Clinic FZ-LLC

·         Dr. Batras' Positive Health Clinic (UK) Limited

·         Dr. Batras' Franchise Private Limited

·         Dr. Batras Homeopathic Clinic JLT INV

·         Dr Batras Media Private Limited

·         Dr Batras Veterinary Care Private Limited

 

 

Enterprises where Key Management Personnel or their relatives are able to exercise significant influence :

·         Dr. Batra's Positive Health Products Limited

·         Praman Trading Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

12,495,000

Equity Shares

Rs. 10/- each

Rs. 124.950 Million

5,000

Preference Shares

Rs. 10/- each

Rs. 50.000 Million

 

Total

 

Rs. 125.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

8,750,000

Equity Shares

Rs. 10/- each

Rs. 87.500 Million

 

 

 

 

 

 

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

87.500

87.500

87.500

(b) Reserves & Surplus

191.917

175.795

124.205

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Deferred Government Grant

0.000

0.000

169.234

Total Shareholders’ Funds (1) + (2)

279.417

263.295

380.939

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

44.123

43.114

40.826

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

1.173

2.050

0.000

Total Non-current Liabilities (3)

45.296

45.164

40.826

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

81.555

41.617

34.024

(b) Trade payables

125.029

93.936

98.095

(c) Other current liabilities

143.077

192.232

37.883

(d) Short-term provisions

10.653

10.239

20.604

Total Current Liabilities (4)

360.314

338.024

190.606

 

 

 

 

TOTAL

685.027

646.483

612.371

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

404.066

401.718

391.830

(ii) Intangible Assets

9.395

11.573

2.222

(iii) Capital work-in-progress

0.000

0.536

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

19.283

18.319

18.219

(c) Deferred tax assets (net)

115.186

96.931

93.604

(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

547.930

529.077

505.875

 

 

 

 

(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

93.331

76.111

78.369

(e) Short-term loans and advances

42.972

41.295

28.127

(f) Other current assets

0.794

0.000

0.000 

Total Current Assets

137.097

117.406

106.496

 

 

 

 

TOTAL

685.027

646.483

612.371

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

1130.500

1110.000

960.600

 

 

Other Income

1.300

4.000

300.000

 

 

TOTAL                                     (A)

1131.800

1114.000

1260.600

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                     (B)

1046.900

984.200

1108.000

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

84.900

129.800

152.600

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

5.300

3.700

19.600

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

79.600

126.100

133.000

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

41.300

35.800

29.500

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)                (G)

38.300

90.300

103.500

 

 

 

 

 

Less

TAX                                                                  (H)

13.000

29.600

33.600

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX (G-H)                  (I)

25.300

60.700

69.900

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

157.900

106.300

57.900

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

0.000

0.000

5.2

 

 

Dividend

7.800

7.800

14

 

 

Tax on Dividend

1.300

1.300

2.3

 

BALANCE CARRIED TO THE B/S

174.100

157.900

106.300

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Medical Consultancy

0.000

0.969

1.185

 

 

Royalty Income

0.000

0.000

0.467

 

TOTAL EARNINGS

0.000

0.000

1.652

 

 

 

 

 

 

Earnings Per Share (Rs.)

2.89

6.94

7.98

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

0.000

4.261

 

 

 

 

Cash Generated from Operations

NA

NA

NA

 

 

 

 

Net Cash Flow from used in Operations

51.010

109.013

178.769

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.24

5.47

7.28

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

7.51

11.69

15.89

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.96

17.02

20.68

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.14

0.34

0.27

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.29

0.16

0.09

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.38

0.35

0.56

 

 

 

 

 

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

87.500

87.500

87.500

Reserves & Surplus

124.205

175.795

191.917

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

211.705

263.295

279.417

 

 

 

 

Long-term borrowings

0.000

0.000

0.000

Short term borrowings

34.024

41.617

81.555

CURRENT MATURITIES OF LONG-TERM DEBTS

0.000

0.000

0.000

Total borrowings

34.024

41.617

81.555

Debt/Equity ratio

0.161

0.158

0.292

 

 

 

 

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

960.600

1110.000

1130.500

 

 

15.553

1.847

 

 

 

 

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

960.600

1110.000

1130.500

Profit

69.900

60.700

25.300

 

7.28%

5.47%

2.24%

 

 

 

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

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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

No

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

No

26

Turnover of firm for last three 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

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

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

10534141

07/11/2014 *

50,000,000.00

YES BANK LIMITED

NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA,, DR. 
A.B. ROAD, WORLI, MUMBAI – 400018, MAHARASHTRA, INDIA

C39638713

2

10014270

31/01/2015 *

100,000,000.00

AXIS BANK LIMITED

CORPORATE BANKING BRANCH,GR.FL,AXIS HOUSE BOMBAY, 
DYEING MILLS MILLS,COMPOUND, P.B MARG ,WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA

C45488665

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

 

 

 

SHORT TERM BORROWINGS

 

 

Loans and advances from directors

10.803

19.300

Loans and advances from others

0.305

0.000

 

 

 

Total

 

11.108

19.300

 

 

NATURE OF OPERATIONS

 

The Company was incorporated in the year 1999 to take over, manage and operate a chain of multi speciality homeopathic clinics from the founder chairman Dr. Mukesh Batra. As at year end, the company is operating 116 clinics in different parts of the country and has launched its two clinics in Dubai & one in London via wholly owned subsidiaries. The company also holds 100% shareholding in Dr.Batra's B Perfect Private Limited, Dr. Batra's Franchisee Private Limited. Dr Batra's Media Private Limited and Dr Batra's Veterinary Care Private Limited.

 

 

CONTINGENT LIABILITY

 

1)     Contingent Liability from claims against the company not acknowledged as debts as at the year end is approx Rs. 3.800 Million (Previous Year Rs. 2.800 Million). Future cash outflows from the same are determinable only on receipt of judgements/decisions pending with various forums and/or final outcome of the matters.

 

2)     Contingent Liability on account of claims/notices/orders against the company u/s 201(1) / 201(1A) of IT Act, 1961 from Income Tax Department for earlier years for short payment of TDS not acknowledged as debts as at the year end is approx Rs. 9.210 Million agaist which Rs. 0.600 Million have been paid. Future cash outflows from the same are determinable only on receipt of judgements/decisions pending with various forums and/or final outcome of the matters.

 

 

FIXED ASSETS:

 

·         Land

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Ships Vessels

 

 

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 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.66.80

UK Pound

1

Rs.100.49

Euro

1

Rs.72.52

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

53

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.