MIRA INFORM REPORT
|
Report No. : |
304091 |
|
Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
FISHER BIOPHARMA SERVICES (INDIA) PRIVATE LIMITED (w.e.f. 06.10.2008) |
|
|
|
|
Formerly Known As
: |
FISHER
SCIENTIFIC (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
"Pharmez", Plot No. 22, Village –Matoda, Taluka Sanand,
Ahmedabad – 382213, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
03.01.2006 |
|
|
|
|
Com. Reg. No.: |
04-047438 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.31.725 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U73100GJ2006PTC047438 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
AHMF00369F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF9462G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Support Services to Global Pharma Companies. |
|
|
|
|
No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of Fisher Clinical Services GMBH – Switzerland It is an established company having satisfactory track record. The company has shown a significant growth in the profit of the company
during FY 2014. General financial position of the company is normal and
acceptable for business dealings. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow correct. 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 DECLINED
Management Non Cooperative (91-271-7662200)
LOCATIONS
|
Registered Office : |
"Pharmez", Plot No. 22, Village –Matoda, Taluka Sanand,
Ahmedabad – 382213, Gujarat, India |
|
Tel. No.: |
91-271-7662200 |
|
Fax No.: |
91-271-7662240 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Pramod Kabra |
|
Designation : |
Director |
|
Address : |
Room No-17, P.G. Hostel, P.B.M. Hospital Campus, Bikaner – 334001, Rajasthan, India |
|
Date of Birth/Age : |
01.08.1972 |
|
Date of Appointment : |
29.09.2011 |
|
DIN No.: |
01714075 |
|
|
|
|
Name : |
Neeru Rupesh Madan |
|
Designation : |
Director |
|
Address : |
A/92, Vishal Residency, Vejalpur, Ahmedabad – 380051, Gujarat, India |
|
Date of Birth/Age : |
29.08.1972 |
|
Date of Appointment : |
29.09.2011 |
|
DIN No.: |
03307563 |
MAJOR SHAREHOLDERS
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Fisher Clinical Services GmbH, Switzerland |
3162502 |
99.68 |
|
Fisher Clinical Services (UK) Limited, UK |
10000 |
0.32 |
|
|
|
|
|
Total |
3172502 |
100.00 |
%20PRIVATE%20LIMITED%20-%20304091%2021-Jan-2015_files/image017.gif)
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
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 : |
Providing Support Services to Global Pharma Companies. |
|
|
|
|
Brand Names : |
Not Divulged |
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|
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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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information from
the company management] |
||||||||||||||
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|
||||||||||||||
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Bankers : |
Hong Kong Shanghai Corporation Limited |
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||||||||||||||
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Facilities : |
-- |
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|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Price Waterhouse, 252, Veer Savarkar Marg, Shivaj Park, Dadar (West),
Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
AAEFP5579P |
|
|
|
|
Membership : |
-- |
|
|
|
|
Holding Company : |
·
Fisher Clinical Services GMBH – Switzerland |
|
|
|
|
Fellow Subsidiaries
: |
· Cenduit LLC · Clintrak Clinical Labeling Services LLC · Cole-Parmer (India) Private Limited · Dionex Softron GMBH · Dionex Corporation · Fisher Bioservices Inc. · Fisher Clinical Services (Bristol) LLC · Fisher Clinical Services GMBH - Germany · Fisher Clinical Services Inc., USA · Fisher Clinical Services Pte Limited · Fisher Clinical Services UK Limited · Fisher Clinical Services Japan K. K. · Fisher Scientific Company LLC · Priority Air Express, LLC · Thermo Electron LED GMBH · Thermo Electron Scientific Instruments LLC · Thermo Fisher Scientific Oy · Thermo Fisher Scientific (Asheville) LLC · Thermo Fisher Scientific Wissenschaftliche Gerate GMBH · Thermo Hypersil Limited · Thermofisher Scientific India Private Limited · Thermo Fisher Scientific (Shanghai) Management Company Limited |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3172502 |
Equity Shares |
Rs.10/- each |
Rs.31.725 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 |
31.725 |
31.725 |
13.821 |
|
(b) Reserves & Surplus |
416.225 |
346.953 |
41.987 |
|
(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) |
447.950 |
378.678 |
55.808 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
84.588 |
142.923 |
241.145 |
|
(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 |
3.719 |
2.754 |
2.099 |
|
Total Non-current
Liabilities (3) |
88.307 |
145.677 |
243.244 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
132.500 |
|
(b) Trade
payables |
43.473 |
63.498 |
94.652 |
|
(c) Other
current liabilities |
149.586 |
141.679 |
144.232 |
|
(d) Short-term
provisions |
1.811 |
1.278 |
1.414 |
|
Total Current
Liabilities (4) |
194.870 |
206.455 |
372.798 |
|
|
|
|
|
|
TOTAL |
731.127 |
730.810 |
671.850 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
484.426 |
479.404 |
517.788 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.019 |
|
(iii)
Capital work-in-progress |
19.139 |
16.374 |
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) |
0.000 |
0.000 |
0.457 |
|
(d) Long-term Loan and Advances |
53.971 |
46.495 |
56.608 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
557.536 |
542.273 |
574.872 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
74.159 |
94.148 |
85.938 |
|
(d) Cash
and cash equivalents |
91.252 |
72.861 |
2.073 |
|
(e)
Short-term loans and advances |
7.817 |
21.121 |
8.710 |
|
(f) Other
current assets |
0.363 |
0.407 |
0.257 |
|
Total
Current Assets |
173.591 |
188.537 |
96.978 |
|
|
|
|
|
|
TOTAL |
731.127 |
730.810 |
671.850 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
385.413 |
337.962 |
|
|
|
|
Other Income |
14.669 |
1.664 |
|
|
|
|
TOTAL (A) |
400.082 |
339.626 |
290.332 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
268.565 |
264.537 |
222.638 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
131.517 |
75.088 |
67.694 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.397 |
32.000 |
46.447 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
124.120 |
43.088 |
21.247 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
54.848 |
42.041 |
45.630 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
69.272 |
1.047 |
(24.383) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.457 |
1.109 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
69.272 |
0.590 |
(25.492) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(149.510) |
(150.100) |
(124.608) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(80.238) |
(149.510) |
(150.100) |
|
|
|
|
|
|
|
|
|
|
FOREIGN EXCHANGE
EARNINGS |
331.758 |
286.146 |
265.492 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
19.667 |
40.984 |
34.961 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.84 |
0.19 |
NA |
|
%20PRIVATE%20LIMITED%20-%20304091%2021-Jan-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20304091%2021-Jan-2015_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20304091%2021-Jan-2015_files/image005.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20304091%2021-Jan-2015_files/image006.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
17.97 |
0.17 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
34.12 |
22.22 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.73 |
0.15 |
(3.63) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.00 |
(0.44) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.19 |
0.38 |
6.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89 |
0.91 |
0.26 |
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 |
13.821 |
31.725 |
31.725 |
|
Reserves & Surplus |
41.987 |
346.953 |
416.225 |
|
Net
worth |
55.808 |
378.678 |
447.950 |
|
|
|
|
|
|
long-term borrowings |
241.145 |
142.923 |
84.588 |
|
Short term borrowings |
132.500 |
0.000 |
0.000 |
|
Total
borrowings |
373.645 |
142.923 |
84.588 |
|
Debt/Equity
ratio |
6.695 |
0.377 |
0.189 |
%20PRIVATE%20LIMITED%20-%20304091%2021-Jan-2015_files/image019.gif)
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 |
290.332 |
339.626 |
400.082 |
|
|
|
16.978 |
17.801 |
%20PRIVATE%20LIMITED%20-%20304091%2021-Jan-2015_files/image021.gif)
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 |
290.332 |
339.626 |
400.082 |
|
Profit |
(25.492) |
0.590 |
69.272 |
|
|
(8.78%) |
0.17% |
17.31% |
%20PRIVATE%20LIMITED%20-%20304091%2021-Jan-2015_files/image023.gif)
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 |
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 |
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 |
NOTE:
The registered office of the company has been shifted from
B-303, Shapath IV, Opposite Karnavati Club, Sarkhej-Gandhinagar Road, Ahmedabad
– 380051, Gujarat, India to present address w.e.f. 25.06.2008.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
External
commercial borrowings taken from Fisher Clinical Services GMBH – Switzerland
(The Holding Company) |
81.926 |
139.203 |
|
Interest accrued
but not due on borrowings |
2.662 |
3.720 |
|
|
|
|
|
Total |
84.588 |
142.923 |
NO CHARGES EXIST FOR THE
COMPANY
FIXED ASSETS:
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipment
·
Computer
·
Vehicles
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.61.85 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
44 |
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.