MIRA INFORM REPORT
|
Report No. : |
302615 |
|
Report Date : |
12.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHARAK PHARMA
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Evergreen Industrial Estate, Dr. E Moses Road, Shakti Mills Lane,
Mahalaxmi, Mumbai - 400011, Maharashtra |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.06.2000 |
|
|
|
|
Com. Reg. No.: |
11-127072 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 68.759 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2000PTC127072 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC07892D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC4014A |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Ayurvedic Pharmaceuticals. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having good track record. Financial position of the company is sound. Fundamentals of the
company are healthy. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 BY
|
Name : |
Ms. Geetaanjali |
|
Designation : |
Export Department |
|
Contact No.: |
91-22-39346500 |
|
Date : |
09.01.2015 |
LOCATIONS
|
Registered Office / Corporate Office : |
Evergreen Industrial Estate, Dr. E Moses Road, Shakti Mills Lane,
Mahalaxmi, Mumbai - 400011, Maharashtra India |
|
Tel. No.: |
91-22-24965256/33016600 |
|
Fax No.: |
91-22-24938215 |
|
E-Mail : |
charak@vsnl.com
|
|
Website : |
|
|
|
|
|
Marketing Headquarters : |
501/A, Poonam Chambers, Dr. |
|
Tel No. : |
91-22-39346500/24945482 |
|
Fax No.: |
91-22-24965249 |
|
Email : |
|
|
|
|
|
Factory Address 1 : |
Jaurasi Road, Pauti Village, G.T. Road, Samalkha – 132 101, Panipat,
Haryana, India |
|
|
|
|
Factory Address 2 : |
Plot No. : 371, Sayli-Rakholi Road, U.T. Dadra and Nagar Haveli – 396
230, Silvassa, India |
|
Telefax : |
91-260-2645535 |
|
Email : |
|
|
|
|
|
Factory Address
3 : |
Village Katha, Post Ofice. Baddi, the Nalagarh, District Solan – 173
205, Himachal Pradesh, India |
|
Tel no. : |
91-1795-245587 |
|
Telefax : |
91-1795-246687 |
|
Email : |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Vikram Kishor
Shroff |
|
Designation : |
Whole Time
Director |
|
Address : |
31, Ocean Crest, |
|
Date of Birth/Age : |
07.03.1968 |
|
Date of Appointment : |
08.06.2000 |
|
DIN No.: |
00004819 |
|
|
|
|
Name : |
Mr. Nimish Kishor
Shroff |
|
Designation : |
Whole Time
Director |
|
Address : |
31, Ocean Crest, |
|
Date of Birth/Age : |
21.05.1970 |
|
Date of Appointment : |
08.06.2000 |
|
DIN No.: |
00004687 |
|
Voter ID No.: |
MT/04024/262001 |
|
|
|
|
Name : |
Mr. Pulin Harshad
Shroff |
|
Designation : |
Whole Time
Director |
|
Address : |
142, Silver Arch,
|
|
Date of Birth/Age : |
11.07.1970 |
|
Date of Appointment : |
08.06.2000 |
|
DIN No.: |
00004851 |
|
Voter ID No.: |
MT/04/024/123461 |
|
|
|
|
Name : |
Mr. Ram Hemant
Shroff |
|
Designation : |
Whole Time
Director |
|
Address : |
Bhagwat Bhuvan
Condominium 31-B, Carmicheal Road Bh. Jaslock HL, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
28.08.1971 |
|
Date of Appointment : |
08.06.2000 |
|
DIN No.: |
00004865 |
|
|
|
|
Name : |
Mr. Raj Hemant
Shroff |
|
Designation : |
Whole Time
Director |
|
Address : |
11, Vallabh
Apartments, |
|
Date of Birth/Age : |
28.08.1971 |
|
Date of Appointment : |
08.06.2000 |
|
DIN No.: |
00004877 |
KEY EXECUTIVES
|
Name : |
Mr. Murali
Ganapathi Kizhakkenchery |
|
Designation : |
Secretary |
|
Address : |
15 Basanti 2nd Floor, Chembur, Uttam CHS. LTD., Stanthony
Road, Chembur, Mumbai – 400071, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1961 |
|
Date of Appointment : |
15.07.2002 |
|
PAN No.: |
ADTPK3326P |
|
Voter ID No.: |
MT/07/046/0342219 |
MAJOR SHAREHOLDERS
As on 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Vikram Lishore Shroff |
|
1331902 |
|
Nimish Kishore Shroff |
|
1331902 |
|
Pulin Harshad Shroff |
|
1331895 |
|
Ram Hemant Shroff |
|
1331902 |
|
Raj Hemant Shroff |
|
1331895 |
|
Amisha Pulin Shroff |
|
6 |
|
Priti Raj Shrof |
|
6 |
|
Charak Healthcare Private Limited, India |
|
216387 |
|
|
|
|
|
Total |
|
6875895 |
As on 25.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
3.15 |
|
Directors or relatives of Directors |
96.85 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ayurvedic Pharmaceuticals. |
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|
|
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Products : |
|
|
|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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|||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
Malpani and Associates Chartered Accountants |
|
Address : |
307-Chartered House, 297-299 Dr. C H Street, Near Marine Lines Church,
Mumbai, Maharashtra, India |
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|
|
|
Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
Charak Healthcare Private Limited CIN No.
:U24200MH1996PTC101559 |
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|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7100000 |
Equity Shares |
Rs.10/- each |
Rs. 71.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6875895 |
Equity Shares |
Rs.10/- each |
Rs. 68.759
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 |
68.759 |
68.759 |
68.759 |
|
(b) Reserves & Surplus |
352.557 |
298.074 |
248.474 |
|
(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) |
421.316 |
366.833 |
317.233 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
36.579 |
35.860 |
36.114 |
|
(c) Other long term
liabilities |
36.207 |
34.813 |
33.514 |
|
(d) long-term provisions |
13.816 |
14.220 |
17.938 |
|
Total
Non-current Liabilities (3) |
86.602 |
84.893 |
87.566 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
30.458 |
98.301 |
106.066 |
|
(b) Trade payables |
78.608 |
71.668 |
65.368 |
|
(c) Other current liabilities |
25.662 |
43.166 |
53.548 |
|
(d) Short-term provisions |
28.722 |
28.057 |
24.691 |
|
Total
Current Liabilities (4) |
163.450 |
241.192 |
249.673 |
|
|
|
|
|
|
TOTAL |
671.368 |
692.918 |
654.472 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
259.871 |
276.342 |
281.737 |
|
(ii) Intangible Assets |
0.000 |
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 |
2.748 |
2.748 |
0.482 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.718 |
6.181 |
5.968 |
|
(e) Other Non-current assets |
3.547 |
3.070 |
1.997 |
|
Total
Non-Current Assets |
271.884 |
288.341 |
290.184 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
204.093 |
168.353 |
190.779 |
|
(c) Trade receivables |
117.532 |
154.003 |
95.916 |
|
(d) Cash and cash equivalents |
9.241 |
18.046 |
20.935 |
|
(e) Short-term loans and
advances |
59.414 |
57.271 |
52.656 |
|
(f) Other current assets |
9.204 |
6.904 |
4.002 |
|
Total
Current Assets |
399.484 |
404.577 |
364.288 |
|
|
|
|
|
|
TOTAL |
671.368 |
692.918 |
654.472 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
1429.709 |
1362.556 |
1243.434 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
1240.548 |
1192.060 |
1102.264 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
189.161 |
170.496 |
141.170 |
|
|
|
|
|
|
|
Less |
TAX |
39.637 |
35.965 |
29.246 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
149.524 |
134.531 |
111.924 |
|
|
|
|
|
|
|
Add |
MAT
Credit Entitlement |
0.000 |
8.214 |
39.137 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
230.281 |
1932.310 |
141.443 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
14.952 |
13.453 |
11.192 |
|
|
Dividend |
77.698 |
78.557 |
63.296 |
|
|
Tax on Dividend |
13.205 |
12.744 |
10.268 |
|
|
Capital Redemption Reserves |
|
|
15.438 |
|
|
Total
|
105.855 |
104.754 |
100.194 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
272.283 |
230.281 |
192.310 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
163.905 |
122.703 |
88.112 |
|
|
TOTAL
EARNINGS |
163.905 |
122.703 |
88.112 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
21.74 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.29 |
24.70 |
21.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45 |
0.46 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.07 |
0.27 |
0.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.44 |
1.68 |
1.46 |
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 |
68.759 |
68.759 |
68.759 |
|
Reserves & Surplus |
248.474 |
298.074 |
352.557 |
|
Net
worth |
317.233 |
366.833 |
421.316 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
106.066 |
98.301 |
30.458 |
|
Total
borrowings |
106.066 |
98.301 |
30.458 |
|
Debt/Equity
ratio |
0.334 |
0.268 |
0.072 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1243.434 |
1362.556 |
1429.709 |
|
|
|
9.580 |
4.928 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1243.434 |
1362.556 |
1429.709 |
|
Profit |
111.924 |
134.531 |
149.524 |
|
|
9.00% |
9.87% |
10.46% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT = NOT AVAILABLE
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
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 |
Yes |
|
24] |
Banking facility details |
Yes |
|
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 |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from related parties |
10.564 |
9.301 |
|
|
|
|
|
Total |
10.564 |
9.301 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10461549 |
15/05/2014 * |
190,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
C04302741 |
|
2 |
90227752 |
20/11/1984 |
30,000.00 |
THE STATE OF HARYANA |
CHANDIGARH, CHANDIGARH, Chandigarh, INDIA |
- |
|
3 |
90227374 |
14/05/1975 |
400,000.00 |
BANK OF INDIA |
UMBERGAON STATION, SOLSUMBA, BULSAR, Maharashtra, |
- |
|
4 |
90227336 |
16/06/1973 |
115,000.00 |
BANK OF BARODA |
BELAUMBA, BULSAR, Maharashtra, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Plant and Machinery
- Computer
- Furniture and Fixture
- Vehicles
- Office Equipment
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.62.39 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
67 |
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.