MIRA INFORM REPORT
|
Report No. : |
309171 |
|
Report Date : |
24.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
BOSTON SCIENTIFIC INDIA PRIVATE LIMITED (w.e.f. 08.04.2011) |
|
|
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Formerly Known
As : |
GUIDANT INDIA PRIVATE LIMITED |
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Registered
Office : |
C-40/41, Okhla Industrial Area, Phase – II, New Delhi – 110020 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
09.07.2003 |
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|
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Com. Reg. No.: |
33-121242 |
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Capital
Investment / Paid-up Capital : |
Rs.282.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33119DL2003FTC121242 |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCG9446Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Developer, Manufacturer and Marketer of Medical Devices. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “Boston Scientific Corporation” which is a worldwide
Developer, Manufacturer and Marketer of Medical Devices. It is an established
company having satisfactory track record. The subject has good net worth position backed by debt free balance
sheet of the company. General financials of the company seems decent. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be usually correct. In view of strong holding company and experienced management, the
company can be considered normal for business dealings at usual trade terms
and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
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
31-03-2014.
INFORMATION DENIED
Management Non Co-operative (91-124-4923300)
LOCATIONS
|
Registered Office : |
C-40/41, Okhla Industrial Area, Phase – II, New Delhi – 110020,
India |
|
Tel. No.: |
91-11-41611024 |
|
Fax No.: |
91-11-41611023 |
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E-Mail : |
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Website : |
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Head Office : |
8th Floor, Building No.5, Cyber Terraces, DLF Cyber City
Phase No. III, Gurgaon – 122002, Haryana, India |
|
Tel No.: |
91-124-4923300 |
|
Fax No.: |
91-124-4923333 |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Prabal Chakraborty |
|
Designation : |
Managing Director |
|
Address : |
Chementia 501 and 601, 5th and 6th Floor, St.
Leos Road, Bandra (West), Mumbai – 400050, Maharashtra India |
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Date of Birth/Age : |
31.12.1962 |
|
Date of Appointment : |
14.05.2012 |
|
DIN No.: |
05293134 |
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|
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Name : |
Mr. Daniel Joseph Brennan |
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Designation : |
Alternate Director |
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Address : |
95, Thornton Road, Needham, Massachusetts 02492 USA |
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Date of Birth/Age : |
02.10.1965 |
|
Date of Appointment : |
24.03.2010 |
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DIN No.: |
03012493 |
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|
|
|
Name : |
Mr. Rajiv Kapahi |
|
Designation : |
Alternate Director |
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Address : |
A-294, Defence Colony, New Delhi – 110024, India |
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Date of Birth/Age : |
24.01.1965 |
|
Date of Appointment : |
14.05.2012 |
|
DIN No.: |
05290480 |
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|
|
|
Name : |
Mr. Vance Brown |
|
Designation : |
Additional Director |
|
Address : |
42, Thomas Road, Ashland, Massachusetts 01721 USA |
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Date of Birth/Age : |
11.08.1969 |
|
Date of Appointment : |
14.05.2012 |
|
DIN No.: |
05302893 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Kumar |
|
Designation : |
Company Secretary |
|
Address : |
Tower No.22, Flat No.1202, Vipul Green, Sohna Road, Gurgaon – 122001,
Haryana, India |
|
Date of Birth/Age : |
25.06.1970 |
|
Date of Appointment : |
16.09.2013 |
|
PAN No.: |
AGUPK2375C |
MAJOR SHAREHOLDERS
AS ON 26.09.2014
|
Names of Shareholders |
No. of Shares |
|
BSC International Holding Limited, The Netherlands |
23 |
|
Boston Scientific International B. V., The Netherlands |
28229927 |
|
|
|
|
Total |
28229950 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2014
|
Category |
Percentage |
|
Foreign holdings [Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others] |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Developer, Manufacturer and Marketer of Medical Devices. |
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|
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Products : |
Medical Devices |
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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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
Not Divulged |
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Bankers : |
Not Divulged |
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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 Company LLP Chartered Accountants |
|
Address : |
Golf View, Corporate Tower-B, Sector-42, Sector Road, Gurgaon, Haryana, India |
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PAN No.: |
ACHFS9180N |
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Membership : |
-- |
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Ultimate Holding
Company : |
· Boston Scientific Corporation,(Natick, USA) |
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|
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Holding company : |
· Boston Scientific International B.V. |
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Fellow Subsidiaries
: |
· Cardiac Pacemakers, Inc. USA · Boston Scientific Clonmel Limited (Ireland) · Guidant Europe NV (Belgium) · Boston Scientific Pty. Ltd. (Australia) · Boston Scientific Medizintechnik GmbH (Germany) · Boston Scientific International S.A. (France) · Boston Scientific Asia Pacific Pte. Ltd. (Singapore) · Boston Scientific Benelux NV (Belgium) · Boston Scientific Japan K.K. (Japan) · Boston Scientific Scimed, Inc. USA · Boston Scientific S.p.A. (Italy) · Boston Scientific (Malaysia) Sdn. Bhd. (Malaysia) · Boston Scientific Korea Co. Ltd. (Korea) · Boston Scientific Middle East (Offshore) S.A.L (Lebanon) · Boston Scientific Neuromodulation Corporation, USA |
CAPITAL STRUCTURE
AS ON 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28229950 |
Equity Shares |
Rs.10/- each |
Rs.282.300 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
282.300 |
282.300 |
282.300 |
|
(b) Reserves & Surplus |
104.088 |
85.530 |
5.717 |
|
(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) |
386.388 |
367.830 |
288.017 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
12.316 |
38.860 |
41.492 |
|
Total Non-current
Liabilities (3) |
12.316 |
38.860 |
41.492 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
2246.404 |
1847.763 |
182.934 |
|
(c) Other
current liabilities |
70.008 |
56.464 |
43.857 |
|
(d) Short-term
provisions |
107.371 |
109.097 |
7.712 |
|
Total Current
Liabilities (4) |
2423.783 |
2013.324 |
234.503 |
|
|
|
|
|
|
TOTAL |
2822.487 |
2420.014 |
564.012 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
134.900 |
61.557 |
43.565 |
|
(ii)
Intangible Assets |
8.482 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
89.461 |
40.259 |
8.668 |
|
(d) Long-term Loan and Advances |
68.834 |
23.143 |
5.462 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
301.677 |
124.959 |
57.695 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
627.043 |
944.670 |
50.953 |
|
(c) Trade
receivables |
1747.864 |
1269.661 |
261.228 |
|
(d) Cash
and cash equivalents |
91.843 |
63.241 |
118.219 |
|
(e)
Short-term loans and advances |
54.060 |
17.483 |
75.917 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2520.810 |
2295.055 |
506.317 |
|
|
|
|
|
|
TOTAL |
2822.487 |
2420.014 |
564.012 |
PROFIT & LOSS
ACCOUNT
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Sales Turnover |
NA |
NA |
NA |
|
|
|
|
|
|
Profit/Loss for the year |
18.558 |
79.813 |
37.824 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.14 |
2.16 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
282.300 |
282.300 |
282.300 |
|
Reserves & Surplus |
5.717 |
85.530 |
104.088 |
|
Net
worth |
288.017 |
367.830 |
386.388 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
No |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NO
CHARGES EXIST FOR COMPANY.
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
PRESS RELEASE:
BOSTON SCIENTIFIC
EARNS TOP MARKS IN CORPORATE EQUALITY INDEX
Nov 19, 2014
MARLBOROUGH, Mass., Nov. 19, 2014 /PRNewswire/ -- Boston
Scientific has scored the highest rating of 100 percent in the Human Rights
Campaign (HRC) Foundation's 2015 Corporate Equality Index (CEI). The top mark
distinguishes the company as one of the "Best Places to Work for LGBT
Equality." The CEI is a nationally recognized benchmarking survey that
evaluates corporate policies and practices relating to lesbian, gay, bisexual
and transgender equality in the workplace.
"We are honored to be recognized by
the HRC Corporate Equality Index. Diversity & Inclusion enhances our
business, benefits employees and, most importantly, best supports our customers
and those for whom they care," said Camille Chang Gilmore, vice president
and global chief diversity officer at Boston Scientific.
The yearly HRC report ranks Fortune 1000
companies across the U.S. for non-discrimination workplace protections,
domestic partner benefits, transgender-inclusive healthcare benefits and public
engagement with the LGBT community.
"We strive to attract and retain a
talented workforce, not only through our policies and practices, but also by
fostering an open and inclusive environment where employees can do their best
work knowing that they, and the people who depend on them, are cared for and
respected," said Wendy Carruthers, senior vice president of Human
Resources at Boston Scientific.
Boston Scientific's commitment to
inclusion extends throughout its workforce. It was rated as one of the top 50
companies to provide a positive working environment for women by Women
Engineer, a career-guidance and recruitment magazine. The company participates
in programs that inspire women and minorities to pursue STEM (science,
technology, engineering and math) careers. In addition, Boston Scientific's Close the Gap
educational initiative works to address disparities in healthcare delivery for
underserved patient populations. Additionally, the People Accepting and
Celebrating Equality (PACE) employee resource group is a network of Boston
Scientific LGBT employees and allies that provides a welcoming environment and
fosters professional growth and engagement.
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.62.18 |
|
|
1 |
Rs.95.71 |
|
Euro |
1 |
Rs.70.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
47 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.