|
Report No. : |
353788 |
|
Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
HEMIJSKA INDUSTRIJA VRSAC |
|
|
|
|
Registered Office : |
Beogradski Put BB, RS 26300 Vrsac |
|
|
|
|
Country : |
Serbia |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
01.06.1960 |
|
|
|
|
Legal Form : |
Closed Joint Stock company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
1,793 (2014) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
Litigation : |
Clear |
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) |
|
Serbia |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SERBIA - ECONOMIC OVERVIEW
Serbia has a transitional economy largely dominated by market forces, but the state sector remains significant in certain areas and many institutional reforms are needed. The economy relies on manufacturing and exports, driven largely by foreign investment. MILOSEVIC-era mismanagement of the economy, an extended period of international economic sanctions, civil war, and the damage to Yugoslavia's infrastructure and industry during the NATO airstrikes in 1999 left the economy only half the size it was in 1990. After the ousting of former Federal Yugoslav President MILOSEVIC in September 2000, the Democratic Opposition of Serbia (DOS) coalition government implemented stabilization measures and embarked on a market reform program. After renewing its membership in the IMF in December 2000, Serbia continued to reintegrate into the international community by rejoining the World Bank (IBRD) and the European Bank for Reconstruction and Development (EBRD). Serbia has made progress in trade liberalization and enterprise restructuring and privatization, but many large enterprises - including the power utilities, telecommunications company, natural gas company, and others - remain in state hands. Serbia has made some progress towards EU membership, signing a Stabilization and Association Agreement with Brussels in May 2008, and with full implementation of the Interim Trade Agreement with the EU in February 2010, gained candidate status in March 2012. In January 2014, Serbia's EU accession talks officially opened. Serbia's negotiations with the World Trade Organization are advanced, with the country's complete ban on the trade and cultivation of agricultural biotechnology products representing the primary remaining obstacle to accession. Serbia's program with the IMF was frozen in early 2012 because the 2012 budget approved by parliament deviated from the program parameters; the arrangement is now void. High unemployment and stagnant household incomes are ongoing political and economic problems. Structural economic reforms needed to ensure the country's long-term prosperity have largely stalled since the onset of the global financial crisis. Growing budget deficits constrain the use of stimulus efforts to revive the economy and contribute to growing concern of a public debt crisis, given that Serbia's total public debt as a share of GDP more than doubled between 2008 and 2014. Serbia's concerns about inflation and exchange-rate stability may preclude the use of expansionary monetary policy. During 2014 the SNS party addressed issues with the fiscal deficit, state-owned enterprises, the labor market, construction permits, bankruptcy and privatization, and other areas. Major challenges ahead include: high unemployment rates and the need for job creation; high government expenditures for salaries, pensions, healthcare, and unemployment benefits; a growing need for new government borrowing; rising public and private foreign debt; attracting new foreign direct investment; and getting the IMF program back on track. Other serious longer-term challenges include an inefficient judicial system, high levels of corruption, and an aging population. Factors favorable to Serbia's economic growth include its strategic location, a relatively inexpensive and skilled labor force, and free trade agreements with the EU, Russia, Turkey, and countries that are members of the Central European Free Trade Agreement (CEFTA). In late 2014, Serbia and the IMF announced a tentative plan for a precautionary loan worth approximately $1 billion. In 2015, the government will be challenged to implement IMF-mandated reforms—which will target social spending, the large public sector, and social spending.
|
Source
: CIA |
|
HEMIJSKA
INDUSTRIJA VRSAC |
|
|
|
Beogradski
Put Bb |
|
RS
26300 Vrsac |
|
Tel: +381 13/803686, 803696, 8111347, 822001 |
|
Fax: +381 13/803472, 822001 |
|
E-Mail:
svakodobro@hemofarm.com |
|
Web:
www.hemofarm.com |
|
Legal
form |
A.D.
- Closed Joint Stock company |
|
|
|
Established |
01.06.1960
under the name INEX HEMOFARM |
|
|
|
|
Since
03.12.1992 business continued under the name HEMOFARM Joint |
||
|
|
Stock
company |
|
|
|
|
Since
1998 business continued under the name HEMOFARM KONCERN A.D. |
||
|
|
-
Joint Stock company |
|
|
|
|
Since
2006 business continued under the name HEMOFARM A.D. - Joint |
||
|
|
Stock
company |
|
|
|
Registered |
National
Identification Number: 08010536 |
|
|
|
|
PIB
(Value Added Tax): 102037788 |
|
|
|
|
Serbian
Business Registers Agency Nr. 1162 |
|
|
|
Establisher |
STADA
SERVICE HOLDING B.V. (NIN: NL20061865) |
100.00% |
|
|
|
AC
Etten-Leur, Netherlands |
|
|
|
Basic
capital |
RSD
10,230,000,000 (31.12.2014) |
|
|
|
Management |
Zeljko
Dudic, Person authorized to represent, born 06.05.1973 |
||
|
|
Serbia |
|
|
|
|
Aleksandar
Nesic, Person authorized to represent, born 07.12.1970 Serbia Gordan
Maksovic, Person authorized to represent, born 01.02.1970 Serbia Zoran
Medic, Person authorized to represent, born 03.07.1975 Serbia Gorica
Srdanovic, Person authorized to represent, born 29.06.1973 Serbia Dragan
Tosic, Agent Branch, born 02.06.1957 Serbia Zarko
Lelovac, Person authorized to represent, born 15.07.1976 Serbia Ljiljana
Trbojevic, Person authorized to represent, born 15.07.1960 Serbia Sasa
Ostojic, Person authorized to represent, born 26.08.1966 Serbia Sonja
Pejovic, Person authorized to represent, born 02.11.1971 Serbia Dusan
Milutinovic, Person authorized to represent, born 04.03.1977 Serbia Ronald
Seeliger, General Director Personal
Identification Number: C3HZG14LH Germany Sanja
Panjkovic, Person authorized to represent, born 05.02.1985 Serbia Aleksandar
Popovic, Person authorized to represent, born 20.10.1971 Serbia Dejan
Ivanovic, Person authorized to represent, born 02.12.1971 Serbia |
||
Basic activity (according to National
activity classification): Manufacture of pharmaceutical preparations (21.20)
Agents specialised in the sale of other
particular products (46.18)
Manufacture of other inorganic basic
chemicals (20.13) Manufacture of other organic basic chemicals (20.14)
Manufacture of perfumes and toilet preparations (20.42) Manufacture of other
chemical products n.e.c. (20.59) Manufacture of basic pharmaceutical products
(21.10) Manufacture of plastic packing goods (22.22)
Manufacture of other plastic products (22.29)
Recovery of sorted materials (38.32)
Import from: Germany, Italy, Switzerland,
India, China, Hongkong Export to: Germany, Montenegro, Bosnia and Herzegovina,
Slovenia, Macedonia, Iraq, Algeria
Beogradski
put bb, Vrsac, owned, Office (9085 m2)
Beogradski
put bb, Vrsac, owned, Production plant (28180 m2) Temerinska 102,
Novi Sad, ownership unknown, Business premises (470 m2)
Kralja
Aleksandra I Karadjordjevica 104, Kragujevac, ownership unknown, Business
premises (250 m2)
Cara
Dusana 102, Nis, ownership unknown, Business premises (400 m2)
Prote
Mateje 70, Beograd, ownership unknown, Business premises (3000 m2)
Knez
Mihajlova, Beograd, owned, Office Sabac, owned, Factory (2000 m2)
Dubovac, owned, Factory (2000 m2)
Beogradski
put bb, Vrsac, owned, Registered Address
|
Cars: 18 |
|
|
|
Pick-up
vehicle: 3 |
||
|
Subject company is owner of some motor vehicles, but
further |
||
|
information
are not available |
||
|
2014 |
1,793 |
employees |
|
2013 |
1,697 |
employees |
|
2012 |
1,688 |
employees |
|
2011 |
1,741 |
employees |
|
2010 |
1,950 |
employees |
|
2009 |
1,989 |
employees |
|
2008 |
1,741 |
employees |
|
2007 |
1,781 |
employees |
|
2006 |
1,821 |
employees |
|
2005 |
1,651 |
employees |
|
2004 |
1,647 |
employees |
|
2003 |
1,622 |
employees |
|
2002 |
1,463 |
employees |
|
2001 |
1,446 |
employees |
|
2014
revenue |
RSD |
26,587,073,000 |
|
|
2013 |
revenue |
RSD |
28,020,486,000 |
|
2012 |
revenue |
RSD |
26,732,335,000 |
|
2011 |
revenue |
RSD |
23,401,308,000 |
|
2010 |
revenue |
RSD |
24,058,388,000 |
|
2009 |
revenue |
RSD |
23,374,358,000 |
|
2008 |
revenue |
RSD |
21,973,893,000 |
|
2007 |
revenue |
RSD |
19,811,465,000 |
|
2006 |
revenue |
RSD |
21,130,368,000 |
|
2005 |
revenue |
RSD |
13,374,329,000 |
|
2004 |
revenue |
RSD |
9,215,465,000 |
|
2003 |
revenue |
RSD |
8,065,825,000 |
|
2002 |
revenue |
RSD |
7,431,541,000 |
|
2001 |
revenue |
RSD |
6,042,149,000 |
Pls.
see the section Business Premises
Balance
Sheet
Unconsolidated
|
RSD
(x 1,000) |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
|
|
|
FIXED
ASSETS |
16,398,602 |
15,562,510 |
15,237,186 |
|
Subscribed
capital |
0 |
0 |
0 |
|
unpaid |
|
|
|
|
Intangible
fixed assets |
1,839,713 |
1,439,969 |
1,654,244 |
|
Tangible
fixed assets |
8,447,506 |
7,571,302 |
7,028,695 |
|
Other
fixed assets |
6,111,383 |
6,551,239 |
6,554,247 |
|
CURRENT
ASSETS |
16,869,889 |
17,574,650 |
21,090,794 |
|
Inventories |
6,217,511 |
7,079,504 |
5,839,633 |
|
Short
– term loans |
9,244,712 |
10,186,374 |
14,875,437 |
|
*Cash
and cash |
331,694 |
1,533,462 |
1,425,113 |
|
equivalent |
|
|
|
|
Other
current assets |
1,075,972 |
308,772 |
375,724 |
|
LOSS |
0 |
0 |
0 |
|
TOTAL
ASSETS |
33,268,491 |
33,137,160 |
36,327,980 |
|
EQUITY |
18,478,833 |
18,921,652 |
17,199,812 |
|
Capital |
10,230,000 |
10,230,000 |
10,230,000 |
|
Subscribed
capital |
0 |
0 |
0 |
|
unpaid |
|
|
|
|
Reserves |
299,113 |
299,113 |
299,113 |
|
Revalorization
reserves |
299,113 |
0 |
0 |
|
Undistributed
Income |
7,949,720 |
8,392,539 |
6,670,699 |
|
Loss |
0 |
0 |
0 |
|
Treasury
shares |
0 |
0 |
0 |
|
LONG
TERM RESERVATIONS |
237,720 |
304,696 |
265,894 |
|
LONG
TERM LIABILITIES |
5,733,423 |
5,395,691 |
5,640,898 |
|
SHORT
TERM LIABILITIES |
8,818,515 |
8,515,121 |
13,221,376 |
|
OTHER
LIABILITIES |
0 |
0 |
0 |
|
TOTAL
LIABILITIES |
33,268,491 |
33,137,160 |
36,327,980 |
Profit And Loss Account
Unconsolidated
|
RSD
(x 1,000) |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
|
|
|
|
|
|
|
|
OPERATING
REVENUES |
25,753,658 |
24,429,076 |
25,055,310 |
|
Sales
of goods |
25,070,356 |
23,547,100 |
23,170,559 |
|
OPERATING
EXPENSES |
21,487,169 |
20,965,739 |
20,140,280 |
|
Costs
of goods sold |
309,044 |
487,991 |
738,001 |
|
Raw
materials costs |
10,768,348 |
10,343,512 |
10,140,623 |
|
Salaries,
wages and |
4,256,911 |
4,009,166 |
3,717,393 |
|
other
personal indemnities |
|
|
|
|
Deprecation
and |
703,030 |
675,661 |
668,308 |
|
provision
costs |
|
|
|
|
Other
operating expenses |
6,135,497 |
5,449,409 |
4,875,955 |
|
FINANCIAL
REVENUES |
565,717 |
2,234,957 |
1,279,538 |
|
FINANCIAL
EXPENSES |
1,526,455 |
739,131 |
1,815,698 |
|
Financial
P/L |
(960,738) |
1,495,826 |
(536,160) |
|
OTHER
REVENUES |
267,698 |
1,356,453 |
397,487 |
|
OTHER
EXPENSES |
498,449 |
1,346,264 |
1,282,701 |
|
Other P/L |
(230,751) |
10,189 |
(885,214) |
|
Profit
from regular |
2,939,543 |
4,969,352 |
3,493,656 |
|
business
operations before |
|
|
|
|
tax |
|
|
|
|
Loss
from regular |
0 |
0 |
0 |
|
business
operations before |
|
|
|
|
tax |
|
|
|
|
Net
profit of businesses to |
6,607 |
0 |
0 |
|
be
ceased |
|
|
|
|
Net
loss of businesses to |
0 |
0 |
0 |
|
be
ceased |
|
|
|
|
Profit
before taxation |
2,946,150 |
4,969,352 |
3,493,656 |
|
Loss
before taxation |
0 |
0 |
0 |
|
Taxation
on profit |
328,547 |
360,402 |
279,867 |
|
Personal
indemnities |
0 |
1,150,000 |
423,000 |
|
paid
to employer |
|
|
|
|
TOTAL
REVENUES |
26,587,073 |
28,020,486 |
26,732,335 |
|
TOTAL
EXPENSES |
23,647,530 |
23,051,134 |
23,238,679 |
|
PROFIT
OF THE PERIOD |
2,617,603 |
3,458,950 |
2,790,789 |
|
LOSS
OF THE PERIOD |
0 |
0 |
0 |
|
Number
of employees |
1,793 |
1,697 |
1,688 |
|
RSD
(x 1,000) |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
|
|
Ratios
Unconsolidated
|
Financial stability
ratio |
1.08 |
1.09 |
1.10 |
|
Equity ratio % |
55.54 |
57.10 |
47.35 |
|
Debt to equity
(Worth) |
0.79 |
0.74 |
1.10 |
|
Liquidity ratio |
1.19 |
1.22 |
1.14 |
|
Current ratio |
1.72 |
2.06 |
1.60 |
|
Total assets
turnover |
0.77 |
0.74 |
0.69 |
|
Average collection
period |
131 |
152 |
217 |
|
in days |
|
|
|
|
Profit margin % |
10.16 |
14.16 |
11.14 |
|
Return on total
assets % |
7.87 |
10.44 |
7.68 |
|
Return on equity % |
14.17 |
18.28 |
16.23 |
|
Total assets per
employee |
18,554.65 |
19,526.91 |
21,521.32 |
|
(ths.) |
|
|
|
|
Equity per employee
(ths) |
10,306.10 |
11,150.06 |
10,189.46 |
|
Total revenue per
employee |
14,363.45 |
14,395.45 |
14,843.19 |
|
(ths.) |
|
|
|
|
Profit per employee
(ths.) |
1,459.90 |
2,038.27 |
1,653.31 |
|
Loss per employee
(ths.) |
0.00 |
0.00 |
0.00 |
|
Average net to
salaries |
197.85 |
196.88 |
183.52 |
|
(ths.) |
|
|
|
Auditing
of financial statements Large legal entities
Rep.
Offices in Serbia:
Prote
Mateje 70, Beograd
Hajduk
Veljkova bb, Sabac
Rep.
Offices abroad:
8.
Marta 55a, Podgorica, Montenegro
Ivo
Lola Ribar 39-1/1, Skoplje, Macedonia
Al-mansar 605/8/1-1, Bagdad, Iraq
25/26 Rue de la madeleine, Bt A,
3eme etages, Ben-Aknoun, Algeria
Affiliates:
EUROGENERICS
SA, Bruxelles, Belgium (NIN:0419806694) (99.99% owned by STADA SERVICE HOLDING
B.V.)
Subsidiaries:
HEMOFARM
SABAC - removed from register, Sabac,
Serbia (NIN:07199821) (100.00%)
PANFARMA
- removed from register, Beograd, Serbia
(NIN:07766700) (100.00%)
HABITPHARM
A.D. - removed from register, Podgorica,
Montenegro (NIN:02336901) (49.64%)
VELEFARM
- U STECAJU, Beograd, Serbia (NIN:07073712) (19.65%)
VETFARM
- U STECAJU, Beograd (Novi Beograd), Serbia (NIN:07040016) (15.00%)
INTER-TREF
- U LIKVIDACIJI - removed from register,
Vrsac, Serbia (NIN:08657459) (100.00%)
AGROVOJVODINA-VRSAC
- U LIKVIDACIJI - removed from register,
Vrsac, Serbia (NIN:08033927) (100.00%)
BANATSKA
PRICA - U LIKVIDACIJI - removed from register,
Vrsac, Serbia (NIN:08793654) (50.00%)
HEMOMONT
D.O.O., Podogorica, Montenegro (NIN:02204185) (71.02%)
KONZORCIJUM
VRSAC - U LIKVIDACIJI - removed from register,
Vrsac, Serbia (NIN:08777225) (26.18%)
HEMOFARM
D.O.O., Banja Luka, Bosnia and Herzegovina (NIN:4400794320007) (100.00%)
MOJA
APOTEKA - U LIKVIDACIJI - removed from register,
Vrsac,
Serbia
(NIN:20437669) (100.00%)
STADA
IT SOLUTIONS, Vrsac, Serbia (NIN:20958146) (100.00%)
STADA
HEMOFARM S.R.L., Timisoara, Romania (100.00%)
STADA
PHARMA BULGARIA EOOD, Sofia, Bulgaria (100.00%)
HEMOFARM
KOMERC D.O.O. - U LIKVIDACIJI, Skopje, Macedonia (NIN:4397649)
STADA
HEMOFARM D.O.O. ZAGREB - U LIKVIDACIJI, Zagreb, Croatia (NIN:080619691)
HEMOPHARM
GMBH PHARMAZEUTISCHES UNTERNEHMEN, Bad Homburg, Germany (NIN:HRB 6022)
(100.00%)
HEMOFARM
A.D. VRSAC P.J. PODGORICA, Podgorica, Montenegro (NIN:02625288) (100.00%)
Immediate
parent company:
STADA
SERVICE HOLDING B.V., AC Etten-Leur, Netherlands: (NIN:NL20061865): 100.00%
Other
functions and shares of Dusan Milutinovic:
- STADA IT SOLUTIONS, Vrsac, Serbia
(NIN:20958146), Director
Other
functions and shares of Ronald Seeliger:
HEMOFARM
A.D. VRSAC P.J. PODGORICA, Podgorica, Montenegro (NIN:02625288), Person
authorized to represent
Other
functions and shares of Zoran Medic:
MEDRA,
Novi Sad, Serbia (NIN:08242291), establisher (50.00%)
MEDRA,
Novi Sad, Serbia (NIN:08242291), Person authorized to represent
Other
functions and shares of Dragan Tosic:
HEMOFARM
SABAC - removed from register, Sabac,
Serbia (NIN:07199821), Director
Short company name: HEMOFARM A.D.
VRSAC
Business
activity of the company:
Subject company HEMOFARM (NIN: 08010536) was established
in 1960.
Serbian pharmaceutical company
based in Vrsac,as a member
of STADA Group.
It is one
of the largest
domestic producer and exporter of
medicines in Serbia.
The company is
engaged in
producing and
selling a wide
range of pharmaceuticals and
other medical
products.
The company is the largest exporter of
medicines from Serbia with a share of
67%.
Every series of medicaments produced in Hemofarm is to undergo a complete physical, technical – chemical and microbiological testing, according to demands defined in registration specification. All testing results, including testing of sterility and bacterial endotoxins, are in accordance with relevant international requirements. Beside that, all series of raw materials and packaging materials (contact and printed packaging) undergo complete testing, according to requests of EP and USP pharmacopoeia and international standards.
Certificates:
ISO 9001:2008 Quality Management system;
ISO 14001:2004 Environmental management;
OHSAS 18001 Occupational Health and Safety Management;
Awards in 2015:
Hemofarm - Winner of the Recognition for the Most Responsible
Company in the South Banat Region
Hemofarm Received RecognitionSERBIAN BRANDS’’TOP
Special award ’April 28th’ for commit occupational safety and health and spreading the prevention culture awarded by the Occupational Safety and Health Administation of the Ministry of Labor, Employment, Veteran Care and Social Issues in the Government of Serbia "Best Buy Award" for Vitamin B and tranquilizers as symbols of the best price-quality ratio in the domestic market
The Award "Leader of Competitiveness and sustainable Development
|
Exchange
rate |
31.12.2014 |
EUR
1 = RSD 117.31 |
|
|
31.12.2013 |
EUR
1 = RSD 114.70 |
|
|
31.12.2012 |
EUR
1 = RSD 113.70 |
|
|
31.12.2011 |
EUR
1 = RSD 104.64 |
|
|
31.12.2010 |
EUR
1 = RSD 105.98 |
|
Inflation |
2012: |
12.20% |
|
|
2011: |
10.30% |
|
|
2010: |
7.90% |
|
Bankers |
BANCA
INTESA A.D. Beograd |
|
|
|
Milentija
Popovica 7 b |
|
|
|
160-106389-39 |
|
|
|
KOMERCIJALNA
BANKA A.D. Beograd |
|
|
|
Svetog
Save 14 |
|
|
|
205-102848-4 |
|
|
|
SOCIETE
GENERALE BANKA SRBIJA A.D. Beograd |
|
|
|
Bulevar
Zorana Djindjica 50 a i 50 b |
|
|
|
275-220012363-35 |
|
|
|
NLB
BANKA A.D. Novi Beograd |
|
|
|
Bulevar
Mihajla Pupina 165v, Novi Beograd |
|
|
|
310-14238-82 |
|
|
|
UNICREDIT
BANK SRBIJA A.D. Beograd |
|
|
|
Rajiceva
27-29 |
|
|
|
170-300741596-65 |
|
|
|
RAIFFEISEN
BANKA A.D. Beograd |
|
|
|
Bulevar
Zorana Djindjica 64 a |
|
|
|
265-1040310002278-14 |
|
|
|
KOMERCIJALNA
BANKA A.D. Beograd |
|
|
|
Svetog
Save 14 |
|
|
|
205-1028480-04 |
|
|
|
VOJVODJANSKA
BANKA A.D. Novi Sad |
|
|
|
Trg
Slobode 7 |
|
|
|
355-1028480-64 |
|
|
|
BANCA
INTESA A.D. Beograd |
|
|
|
Milentija
Popovica 7 b |
|
|
|
160-2848-68 |
|
|
|
CREDIT
AGRICOLE BANKA SRBIJA A.D. Novi Sad |
|
|
|
Brace
Ribnikar 4-6 |
|
|
|
330-4013537-88 |
|
|
|
No
unsettled liability was registered during last 12 months. |
|
|
Debt
collection |
Case
Registered: |
- |
|
|
Case
Status: |
There
is no record of any debt collection |
|
|
|
action. |
|
Mode
of payment |
Payments
are made correctly |
|
|
Credit
opinion |
Business |
connections |
are
permissible |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.73.46 |
|
RSD |
1 |
Rs. 0.60 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.