MIRA INFORM REPORT
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Report No. : |
303864 |
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Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
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Name : |
APEX DRUGS AND INTERMEDIATES LIMITED (w.e.f. 04.03.1996) |
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Formerly Known
As : |
APEX DRUGS AND INTERMEDIATES PRIVATE LIMITED (w.e.f. 25.10.1995) AGANI SYNTHETICS PRIVATE LIMTIED |
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Registered
Office : |
210, 2nd Floor, Ram’s Enclave, Erragadda, Hyderabad –
500018, Telangana |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
05.12.1989 |
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Com. Reg. No.: |
36-010737 |
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Capital
Investment / Paid-up Capital : |
Rs. 110.764 Millions |
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CIN No.: [Company Identification
No.] |
U24230TG1989PLC010737 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited liability Company. |
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Line of Business
: |
Manufacturer and Exporter of pharmaceutical
ingredients including active pharmaceutical ingredients and drug
intermediates. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1400000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a company having moderate track. Management has failed to file latest financials of FY 14, with the
statutory authorities. Madam Sarla Makireddy, accounts head claimed that the company has not
yet been acquired by Anjaneya Lifecare Limited. Moreover, there were talks between the two companies but the same has
not yet been finalised. As per available, the company is still managed by the management of
Apex and has reported a loss from its operations during FY 14. Business is active. Payment terms are unknown. In view of unavailability of latest financial information resulting
into lack of clarity upon the present scenario, the company can be considered
for business dealings as a matter of your confidence, that too on a safe and
secured trade terms and conditions. Further, we recommend you to closely
monitor the developments. |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Long Term Rating “BBB” (Suspended) |
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Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
March 2013 |
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Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating “A3” (Suspended) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
March 2013 |
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 PARTED BY (PARTIAL DETAILS)
|
Name : |
Madam Sarla Makireddy |
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Designation : |
Accountant Head |
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Contact No.: |
91-40-23706034 |
|
Date : |
22.01.2015 |
LOCATIONS
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Registered Office : |
210, 2nd Floor, Ram’s Enclave, Erragadda, Hyderabad –
500018, Telangana, India |
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Tel. No.: |
91-40-23706034/ 23717365/ 23717366 |
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Fax No.: |
91-40-23707368 |
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E-Mail : |
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Website : |
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Factory : |
Survey No.14, Gadda Potharam Industrial Area, Jinnaram Mandal, District
Medak, Andhra Pradesh, India |
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Tel. No.: |
91-8458-277268/ 277036 |
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Fax No.: |
91-8458-277263 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ghanshyam Surajbali Kurmi |
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Designation : |
Managing Director |
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Address : |
201, Shilpa Manor, Next to Savera Function Hall, Yousufguda, Hyderabad
– 500045, Telangana, India |
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Date of Birth/Age : |
11.08.1969 |
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Date of Appointment : |
01.06.2011 |
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DIN No.: |
00046169 |
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Other Directorship :
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Name : |
Mr. Vilas Ramkrishna Lokhande |
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Designation : |
Whole Time Director |
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Address : |
8, Shram Safalya, Opposite Udaynagar, Panchpakhadi, Thane-400602,
Maharashtra, India |
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Date of Birth/Age : |
13.05.1963 |
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Date of Appointment : |
01.01.2010 |
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DIN No.: |
01228041 |
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Other Directorship :
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Name : |
Mr. Sandeep Kumar Verma |
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Designation : |
Additional Director |
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Address : |
210, Rams Enclave, Erragadda, Hyderabad-500018, Andhra Pradesh,
India |
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Date of Birth/Age : |
12.08.1987 |
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Date of Appointment : |
01.03.2010 |
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DIN No.: |
02808834 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Madam Sarla Makireddy |
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Designation : |
Accountant Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Ghanshyam S. Kurmi |
11075211 |
|
Maghan Financial Services Private Limited, India |
200 |
|
Kumkum Financial Services Private Limited, India |
200 |
|
K. Sudhakar Reddy |
200 |
|
G Shekhar Reddy |
200 |
|
Ashok Vsudevan |
200 |
|
Gaurav Singh |
200 |
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Total |
11076411 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of pharmaceutical
ingredients including active pharmaceutical ingredients and drug
intermediates. |
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Products : |
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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 : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Rathi and Malani Chartered Accountant |
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Address : |
317, 3rd Floor, Swapnalok, S. D Road, Secunderabad –
500003, Telangana, India |
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Tel. No.: |
91-40-27816017/ 32009337 |
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Pan No.: |
ACBPR3959G |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
11076411 |
Equity Shares |
Rs.10/- each |
Rs.110.764 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
110.764 |
110.764 |
101.097 |
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(b) Reserves &
Surplus |
410.208 |
417.981 |
274.116 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
72.500 |
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Total Shareholders’ Funds
(1) + (2) |
520.972 |
528.745 |
447.713 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
567.262 |
495.502 |
366.462 |
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(b) Deferred tax
liabilities (Net) |
77.179 |
68.386 |
54.955 |
|
(c) Other long term
liabilities |
650.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
1294.441 |
563.888 |
421.417 |
|
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(4) Current Liabilities |
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(a) Short term borrowings |
828.375 |
540.817 |
607.365 |
|
(b) Trade payables |
109.560 |
115.926 |
291.311 |
|
(c) Other current
liabilities |
28.486 |
28.843 |
28.798 |
|
(d) Short-term provisions |
34.685 |
30.908 |
31.479 |
|
Total Current Liabilities
(4) |
1001.106 |
716.494 |
958.953 |
|
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TOTAL |
2816.519 |
1809.127 |
1828.083 |
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II.
ASSETS |
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(1) Non-current assets |
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|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
663.401 |
601.677 |
485.923 |
|
(ii) Intangible Assets |
15.000 |
15.000 |
15.000 |
|
(iii) Capital
work-in-progress |
45.000 |
80.626 |
80.211 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.380 |
0.380 |
0.190 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
680.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1403.781 |
697.683 |
581.324 |
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
391.957 |
310.716 |
318.133 |
|
(c) Trade receivables |
765.110 |
495.885 |
636.715 |
|
(d) Cash and cash
equivalents |
32.217 |
67.269 |
36.798 |
|
(e) Short-term loans and
advances |
197.282 |
178.338 |
181.197 |
|
(f) Other current assets |
26.172 |
59.236 |
73.916 |
|
Total Current Assets |
1412.738 |
1111.444 |
1246.759 |
|
|
|
|
|
|
TOTAL |
2816.519 |
1809.127 |
1828.083 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
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|
|
Income |
2059.328 |
1826.236 |
1764.789 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
TOTAL (A) |
2059.328 |
1826.236 |
1764.789 |
|
|
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|
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Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1719.649 |
1309.590 |
1309.794 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(14.684) |
44.285 |
113.228 |
|
|
Employees benefits
expense |
60.785 |
75.733 |
52.125 |
|
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Other expenses |
85.883 |
121.586 |
76.651 |
|
|
TOTAL (B) |
1851.633 |
1551.194 |
1551.798 |
|
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Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
207.695 |
275.042 |
212.991 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
170.388 |
118.010 |
62.998 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
37.307 |
157.032 |
149.993 |
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
36.289 |
31.332 |
27.756 |
|
|
|
|
|
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|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
1.018 |
125.700 |
122.237 |
|
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|
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Less |
TAX (H) |
8.791 |
40.837 |
41.552 |
|
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|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
(7.773) |
84.863 |
80.685 |
|
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|
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|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD (J) |
352.898 |
271.866 |
193.864 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS (K) |
0.000 |
3.831 |
2.865 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (I+J-K) |
345.125 |
352.898 |
271.684 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
284.819 |
704.341 |
436.543 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(0.70) |
8.18 |
7.98 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
(0.38) |
4.65 |
4.57 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
10.09 |
15.06 |
12.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.04 |
7.27 |
6.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.24 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.68 |
1.96 |
2.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.55 |
1.30 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
101.097 |
110.764 |
110.764 |
|
Reserves & Surplus |
274.116 |
417.981 |
410.208 |
|
(2) Share Application
money pending allotment |
72.500 |
0.000 |
0.000 |
|
Net worth |
447.713 |
528.745 |
520.972 |
|
|
|
|
|
|
long-term borrowings |
366.462 |
495.502 |
567.262 |
|
Short term borrowings |
607.365 |
540.817 |
828.375 |
|
Total borrowings |
973.827 |
1036.319 |
1395.637 |
|
Debt/Equity ratio |
2.175 |
1.960 |
2.679 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1764.789 |
1826.236 |
2059.328 |
|
|
|
3.482 |
12.764 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1764.789 |
1826.236 |
2059.328 |
|
Profit |
80.685 |
84.863 |
(7.773) |
|
|
4.57% |
4.65% |
(0.38%) |
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 |
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 |
No |
|
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 |
No |
|
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 |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other loans and advances |
550.000 |
448.879 |
|
Total |
550.000 |
448.879 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10254676 |
03/09/2013 * |
160,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE
BRANCH, 6-3-850/3, SRINIVASA |
B84878560 |
|
2 |
10124609 |
12/09/2008 |
238,500,000.00 |
BANK OF INDIA |
HYDERABAD CORPORATE
BANKING BRANCH, 10-1-1199/2, |
A47598933 |
|
3 |
90262254 |
02/04/2013 * |
665,400,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, MID CORPORATE GROUP, ASHOK MYHOME CHAMBERS, S. D. ROAD, SECUNDERABAD, ANDHRA PRADESH - 500003, INDIA |
B73997595 |
|
4 |
90118429 |
16/07/1992 |
4,000,000.00 |
STATE BANK OF INDIA |
MAIN BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
5 |
90118343 |
14/11/1990 |
780,000.00 |
STATE BANK OF INDIA |
MAIN BRANCH, SECUNDERABAD, ANDHRA PRADESH, INDIA |
- |
* Date of charge modification
CONTINGENT
LIABILITIES:
A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence of one or more uncertain future events beyond the control of the com[any or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably.
All contingent liabilities are indicated by way of note and will be provided / paid on crystallization. Contingent liabilities are not provided for:
1) In respect of guarantees issued by bank to Pollution Control Board For the Year 2012-13 for amount Rs.2.500 Millions and for the year 2011-12 Rs. 4.300 Millions
2) In respect of letter of credit issued by the banks for the year 2011-12 for the amount of Rs.28.151 Millions
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Other plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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 records 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 records 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. 61.49 |
|
|
1 |
Rs. 92.16 |
|
Euro |
1 |
Rs. 69.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.