MIRA INFORM REPORT
|
Report No. : |
356699 |
|
Report Date : |
26.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
MERIL LIFE SCIENCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Bilakhia House, Survey No. 135/139, Muktanand Marg, Chala, Vapi –
396191, Gujarat |
|
Tel. No.: |
91-260-3052100 |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.06.2007 |
|
|
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Com. Reg. No.: |
04-051137 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.925.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239GJ2007PTC051137 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTM03995F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM1444G |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing and selling of Coronary Stent including its Components. (Registered Activity) |
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|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2007 and is a part of Bilakhia
Group based in Vapi. It is a wholly owned subsidiary of Meril Life Sciences
Private Limited. As per Registrar of Companies the date of business sheet (i.e.
financial filed) is shown as 31.03.2015 but documents related to same for the
financial year ending 2015 is not available from any other sources. Rating takes into consideration strong financial risk profile of the company
marked by adequate networth base and comfortable gearing in FY14. Further the company has reported significant increase in sales
turnover and profit along with decent profit margin of nearly 16% 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 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
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
20.10.2015 |
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Shailendra Solanki |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-260-3052350 |
|
Date : |
23.12.2015 |
LOCATIONS
|
Registered Office / Corporate Headquarters: |
Bilakhia House, Survey No. 135/139, Muktanand Marg, Chala, Vapi –
396191, Gujarat, India |
|
Tel. No.: |
91-260-3052100 |
|
Fax No.: |
91-260-3052125 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
International Sales Office : |
612, B-Wing, Bonanza, Sahar Plaza, Andheri East), Mumbai 400 059,
Maharashtra, India |
|
Tel. No.: |
91-22-39350700 |
|
Fax No.: |
91-22-40479717 |
DIRECTORS
AS ON 18.09.2015
|
Name : |
Mr. Nanubhai Premjibhai Bambharolia |
|
Designation : |
Whole-time director |
|
Address : |
Plot No.147 and 148, Opposite Rofel College, GIDC, Vapi - 396195,
Gujarat, India |
|
Date of Birth/Age : |
01.06.1955 |
|
Date of Appointment : |
19. 06.2007 |
|
DIN No.: |
00089481 |
|
|
|
|
Name : |
Mr. Rajnikant Gandalal Vyas |
|
Designation : |
Whole-time director |
|
Address : |
B-602, Eternia, Main Street, Hiranandani Gardens, Powai, Mumbai –
400076, Maharashtra, India |
|
Date of Birth/Age : |
04.11.1945 |
|
Date of Appointment : |
20.10.2010 |
|
DIN No.: |
00837447 |
|
|
|
|
Name : |
Mr. Utpalkumar Devendrakumar Thakor |
|
Designation : |
Whole-time director |
|
Address : |
203, Samrajya Apr-1, Royal Residency, Gokulvihar Township, Chharwara
Road, Vapi – 396191, Gujarat, India |
|
Date of Birth/Age : |
04.01.1996 |
|
Date of Appointment : |
23.03.2011 |
|
DIN No.: |
03463537 |
KEY EXECUTIVES
|
Name : |
Mr. Shailendra Solanki |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 18.09.2015
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Micro Life Sciences Private Limited, India |
|
59359999 |
|
Micro Life Sciences Private Limited Jointly with Anjum Bilakia |
|
1 |
|
|
|
|
|
Total |
|
59360000 |
|
Names of Shareholders (8% Non Convertible, Non Cumulative, Redeemable Preference shares ) |
|
No. of Shares |
|
Micro
Life Sciences Private Limited, India |
|
33150000 |
|
|
|
|
|
Total |
|
33150000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 18.09.2015
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and selling of Coronary Stent including its Components. (Registered Activity) |
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Products / Services: |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
Standard Chartered Bank Abhijeet II, Ground Floor, Near Mithkali Six Road S, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
|
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Auditors : |
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|
Name : |
Gopalakrishnan Aiyer and Company Chartered Accountants |
|
Address : |
A-103 Hemu Classic Shopping Centre, Opposite New Era Cinema S V Road, Malad West, Mumbai 400064, Maharashtra, India |
|
PAN No.: |
ABDPA7449K |
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|
|
|
Memberships : |
-- |
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|
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Collaborators : |
-- |
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Ultimate Holding
company (AS ON 31.03.2014): |
Bilakhia Holdings Private Limited [U67120GJ1992PTC017523] |
|
|
|
|
Holding Company : |
Micro Life Sciences Private Limited |
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Subsidiary : |
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Fellow Subsidiary
of Holding Company : |
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|
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Fellow Subsidiary : |
Meril Healthcare Private Limited |
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|
|
|
Enterprises over which
Key Managerial Personnel (KMP) are able to exercise significant influence : |
Mipro US Inc. |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60,000,000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Million |
|
40,000,000 |
8% Non Convertible, Non Cumulative, Redeemable Preference shares |
Rs.10/- each |
Rs. 400.000 Million |
|
|
Total |
|
Rs.1000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
59,360,000 |
Equity Shares |
Rs.10/- each |
Rs.593.600 Million |
|
33,150,000 |
8% Non Convertible, Non Cumulative, Redeemable Preference shares |
Rs.10/- each |
Rs.331.500 Million |
|
|
Total |
|
Rs.925.100
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 |
925.100 |
925.100 |
925.100 |
|
(b) Reserves & Surplus |
544.033 |
262.975 |
24.773 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
1469.133 |
1188.075 |
949.873 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
269.640 |
325.860 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
45.209 |
31.116 |
22.868 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
9.404 |
7.522 |
2.782 |
|
Total Non-current
Liabilities (3) |
324.253 |
364.498 |
25.650 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
385.947 |
316.561 |
255.000 |
|
(b) Trade
payables |
131.720 |
107.399 |
47.500 |
|
(c) Other
current liabilities |
185.082 |
111.044 |
12.722 |
|
(d) Short-term
provisions |
3.842 |
16.839 |
0.306 |
|
Total Current
Liabilities (4) |
706.591 |
551.843 |
315.528 |
|
|
|
|
|
|
TOTAL |
2499.977 |
2104.416 |
1291.051 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
544.829 |
378.438 |
299.349 |
|
(ii)
Intangible Assets |
31.661 |
3.606 |
5.855 |
|
(iii)
Capital work-in-progress |
481.998 |
354.908 |
25.784 |
|
(iv)
Intangible assets under development |
117.319 |
65.583 |
0.489 |
|
(b) Non-current Investments |
329.160 |
238.168 |
154.210 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
191.602 |
190.205 |
157.567 |
|
(e) Other
Non-current assets |
16.378 |
13.838 |
9.302 |
|
Total Non-Current
Assets |
1712.947 |
1244.746 |
652.556 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
325.198 |
309.297 |
126.992 |
|
(c) Trade
receivables |
356.101 |
350.493 |
359.161 |
|
(d) Cash
and cash equivalents |
3.071 |
153.075 |
19.372 |
|
(e)
Short-term loans and advances |
102.432 |
46.254 |
132.566 |
|
(f) Other current
assets |
0.228 |
0.551 |
0.404 |
|
Total
Current Assets |
787.030 |
859.670 |
638.495 |
|
|
|
|
|
|
TOTAL |
2499.977 |
2104.416 |
1291.051 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL REVENUE |
1671.401 |
1249.791 |
643.764 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
504.409 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
139.355 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
29.491 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
281.058 |
238.202 |
109.864 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
1177.584 |
558.012 |
197.305 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
448.365 |
415.180 |
236.015 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.73 |
4.01 |
1.19 |
|
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 flows from (used in) operations |
513.155 |
253.936 |
(59.083) |
|
Net cash flows from (used in) operating activities |
374.009 |
171.882 |
(79.958) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Revenue) |
(%) |
NA |
NA |
17.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
12.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.45 |
0.54 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
1.56 |
2.02 |
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 |
925.100 |
925.100 |
925.100 |
|
Reserves & Surplus |
24.773 |
262.975 |
544.033 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
949.873 |
1188.075 |
1469.133 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
325.860 |
269.640 |
|
Short term borrowings |
255.000 |
316.561 |
385.947 |
|
Total borrowings |
255.000 |
642.421 |
655.587 |
|
Debt/Equity ratio |
0.268 |
0.541 |
0.446 |
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) |
|
Total Revenue |
643.764 |
1249.791 |
1671.401 |
|
|
|
94.138 |
33.734 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Revenue |
643.764 |
1249.791 |
1671.401 |
|
Profit |
109.864 |
238.202 |
281.058 |
|
|
17.07% |
19.06% |
16.82% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
--- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
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 |
Yes |
|
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 |
NOTE: Registered office of
the company has been shifted from “Kalpdeep, Plot No. 147, H-1, Charwada Road,
GIDC, Vapi - 396195, Gujarat, India” to the present address w.e.f. 23.10.2010
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on Demand |
0.000 |
117.500 |
|
|
|
|
|
Total |
0.000 |
117.500 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10585183 |
24/07/2015 |
200,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051, MAHARASHTRA, INDIA |
C61294963 |
|
2 |
10502666 |
11/06/2014 |
200,000,000.00 |
DBS BANK LIMITED |
2ND FLOOR, SHREE AMBICA AUTO, GIDC BHATPORE, OPP ONGC HAZIRA, SURAT - 394510, GUJARAT, INDIA |
C06466379 |
|
3 |
10468796 |
12/12/2013 |
260,000,000.00 |
AXIS BANK LIMITED |
HOTEL FORTUNE
GALAXY, COMM. PLOT NO. C7/67/P, N. |
B92969484 |
|
4 |
10411264 |
29/08/2013 * |
190,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
B85418846 |
|
5 |
10385705 |
10/11/2012 * |
476,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NEAR MITHKALI SIX ROADS, AHMEDABAD - 380006, GUJARAT, INDIA |
B62175393 |
|
6 |
10373005 |
04/09/2015 * |
350,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NEAR MITHKALI SIX ROADS, AHMEDABAD - 380006, GUJARAT, INDIA |
C65550998 |
* Date of charge modification
PERFORMANCE REVIEW
[AS ON 31.03.2014]
The total revenue for the year ended 31st March 2014 was Rs. 1671.401 Million against Rs.1249.791 Million for the previous year. The Company has recorded profit after tax of Rs. 281.058 Million during the year as against the profit of Rs. 238.202 Million in the previous year.
The Company has registered an impressive growth in all area of business and the Directors are confident to keep this momentum of growth in future also.
COMPANY OVERVIEW [AS
ON 31.03.2014]
Subject is engaged in the business of manufacturing and selling of Coronary Stent including its components.
FIXED ASSETS
Tangible Assets
- Leasehold Improvements
- Plant and Machinery
- Office Equipments
- Computers and Hardware
- Furniture and Fixtures
- Vehicles
Intangible Assets
·
Technical Know how
·
Designs (BMS and DES)
·
Trade Mark
·
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.66.20 |
|
|
1 |
Rs.98.29 |
|
Euro |
1 |
Rs.72.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
7 |
|
--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 |
|
54 |
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.