MIRA INFORM REPORT

 

 

Report No. :

333543

Report Date :

28.07.2015

 

IDENTIFICATION DETAILS

 

Name :

SHRUTI DRUGS PRIVATE LIMITED (w.e.f.21.05.2009)

 

 

Formerly Known As :

SHRUTI BULK  DRUGS PRIVATE LIMITED

 

 

Registered Office :

5 - 4 - 187/ 7/ 3, Mahathma Gandhi Road, Secunderabad – 500003, Telangana

Tel. No.:

91-40-27544507

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.07.1994

 

 

Com. Reg. No.:

01-017903

 

 

Capital Investment / Paid-up Capital :

Rs. 1.950 Million

 

 

CIN No.:

[Company Identification No.]

U24230TG1994PTC017903

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Exporter of Pharma Products.

 

 

No. of Employees :

10 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 24500

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Shruti Drugs Private Limited is a Private Company incorporated on 11 July 1994. Directors of Shruti Drugs Private Limited are Nishit Prakash Kadakia and Prakash Praveen Chandra Kadakia.

 

It is a having moderate track.

 

It is classified as Indian Non-Government Company and is registered at Registrar of Companies, Hyderabad. Its authorized share capital is Rs. 7,500,000 and its paid up capital is Rs. 1,950,000.

 

External borrowing of the company seems to be huge during 2014.

 

The rating also takes into consideration company’s modest net worth and unfavorable gap between trade receivables and trade receivables and trade payables.

 

However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for business dealings with some caution. 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 31-03-2013.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Ms. Anita Rao

Designation :

Admin Head

Contact No.:

91-9246774423

Date :

27.07.2015

 

 

LOCATIONS

 

Registered Office/ Warehouse :

5 - 4 - 187/ 7/ 3, Mahathma Gandhi Road, Secunderabad – 500003, Telangana, India

Tel. No.:

91-40-27544507

Mobile No.:

91-9246774423 (Ms. Anita Rao)

Fax No.:

91-40-66334433

E-Mail :

accounts@shrutidrugs.com

exports@shrutidrugs.com    

sales@shrutidrugs.com

Website:

http://www.shrutidrugs.com

 

 

Branch Office:

Located At:

 

·         Mumbai

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Nishit Prakash Kadakia

Designation :

Director

Address :

A-1/ 3B/ 11, Chandralok Complex, Paradise, Secunderabad - 500003, Andhra Pradesh, India

Date of Birth/Age :

02.04.1974

Date of Appointment :

29.07.1994

DIN No.:

01632866

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24230TG1994PTC017903

SHRUTI DRUGS PRIVATE LIMITED

Director

29/07/1994

29/07/1994

-

Active

NO

2

U45200TG2007PTC056274

ACCURA PROJECTS AND INFRASTRUCTURES( I) PRIVATE LIMITED

Director

12/11/2007

12/11/2007

-

Active

NO

3

U24233TG2010PTC070317

ACTIVZ LIFESCIENCES (I) PRIVATE LIMITED

Director

06/09/2010

06/09/2010

-

Active

NO

4

U24239TG1993PLC015547

MARS THERAPEUTICS AND CHEMICALS LIMITED

Director

30/09/2013

03/07/2013

30/09/2014

Active

NO

5

U74900TG2015PTC099775

KRRUM IMPEX PRIVATE LIMITED

Director

13/07/2015

13/07/2015

-

Active

NO

 

 

Name :

Mr. Prakash Praveen Chandra Kadakia

Designation :

Director

Address :

A-1/ B/ II Chandralok Complex, Paradise, Secunderabad - 500003, Andhra Pradesh, India

Date of Birth/Age :

13.02.1947

Date of Appointment :

24.07.1994

DIN No.:

01632870

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24230TG1994PTC017903

SHRUTI DRUGS PRIVATE LIMITED

Director

24/07/1994

24/07/1994

-

Active

NO

2

U45200TG2007PTC056274

ACCURA PROJECTS AND INFRASTRUCTURES( I) PRIVATE LIMITED

Director

12/11/2007

12/11/2007

22/08/2011

Active

NO

3

U74900TG2015PTC099775

KRRUM IMPEX PRIVATE LIMITED

Director

13/07/2015

13/07/2015

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Ms. Anita Rao

Designation :

Admin Head

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

 

Percentage of Holding

Nishit Prakash Kadakia

5100

26.15

Prakash Pravinchandra Kadakia

7800

40.00

Prakash Pravinchandra Kadakia (HUF)

600

3.08

Kruthi Nishit Kadakia

4000

20.51

Nayana Prakash Kadaika

800

4.10

Karthik Kirankumar Parikh

1200

6.15

Total

 

19500

100.00

 

 

 

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Exporter of Pharma Products.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Pharma Products

Countries :

·         Colombia

·         Latin America

 

 

Imports :

--

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Others

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

10 (Approximately)

 

 

Bankers :

Bank Name:

Union Bank Of India

Branch:

A. R. Street Branch, 176-180, Bhagat Mansion, 1st, 2nd and 3rd Floors, Abdul Rehman Street, Mumbai - 400003, Maharashtra, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         HDFC Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Car loan from Kotak Primus

0.360

0.712

Car loan from HDFC Bank

0.203

0.000

 

 

 

SHORT TERM BORROWINGS

 

 

Working Capital from banks (Secured by hypothecation of inventories, books)

26.250

18.023

 

 

 

Total

 

26.813

18.735

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Sudhakar and Company

Chartered Accountants

Address :

2nd Floor 5-2-134 R P Road, Secunderabad – 500003, Andhra Pradesh, India

Tel. No.:

91-40-27543048/ 27540238

 

knarender@hotmail.com

Income-tax PAN of auditor or auditor's firm :

ADFPK5519A

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

75,000

Equity Shares

Rs. 100/- each

Rs. 7.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

19,500

Equity Shares

Rs. 100/- each

Rs. 1.950 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

1.950

1.950

1.950

(b) Reserves & Surplus

6.637

5.553

4.480

(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)

8.587

7.503

6.430

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

21.552

3.699

2.544

(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

0.000

0.000

0.000

Total Non-current Liabilities (3)

21.552

3.699

2.544

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

26.250

18.023

15.362

(b) Trade payables

53.999

16.331

28.379

(c) Other current liabilities

0.748

0.636

0.821

(d) Short-term provisions

0.616

0.595

0.683

Total Current Liabilities (4)

81.613

35.585

45.245

 

 

 

 

TOTAL

111.752

46.787

54.219

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2.209

2.130

3.288

(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

49.504

9.529

8.164

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.072

0.011

1.526

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

51.785

11.670

12.978

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.280

0.000

0.000

(c) Trade receivables

36.772

27.974

39.914

(d) Cash and cash equivalents

7.077

7.138

1.230

(e) Short-term loans and advances

15.838

0.005

0.097

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

59.967

35.117

41.241

 

 

 

 

TOTAL

111.752

46.787

54.219

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

 

45.489

93.360

 

 

Other Income

 

2.496

1.719

 

 

TOTAL                                     (A)

NA

47.985

95.079

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

 

36.266

84.941

 

 

Employees benefits expense

 

2.586

1.971

 

 

Other expenses

 

4.209

4.099

 

 

TOTAL                                     (B)

NA

43.061

91.011

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

 

4.924

4.068

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

 

2.625

1.545

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

(Including Financial and Depreciation)

2.299

2.523

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

0.667

0.386

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX (E-F)                 (G)

NA

1.632

2.137

 

 

 

 

 

Less

TAX                                                                  (H)

NA

0.560

0.623

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX (G-H)                   (I)

1.084

1.072

1.514

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

51.739

NA

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

55.59

54.99

77.66

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

0.518

0.316

0.370

 

 

 

 

Cash Generated from Operations

NA

NA

NA

 

 

 

 

Net Cash Flow from used in Operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

NA

2.36

1.62

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

NA

10.82

4.36

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

NA

4.38

4.64

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

NA

0.22

0.33

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

5.63

2.94

2.84

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.73

0.99

0.91

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

1.950

1.950

1.950

Reserves & Surplus

4.480

5.553

6.637

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

6.430

7.503

8.587

 

 

 

 

Long-term borrowings

2.544

3.699

21.552

Short term borrowings

15.362

18.023

26.250

CURRENT MATURITIES OF LONG-TERM DEBTS

0.370

0.316

0.518

Total borrowings

18.276

22.038

48.320

Debt/Equity ratio

2.842

2.937

5.627

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report

(Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATIONS DETAILS

 

CP 162 / 2015                                              CPSR 446 / 2015                                             CASE IS:PENDING

PETITIONER : M/S MARS THERAPEUTICS AND      RESPONDENT: M/S SHRUTI DRUGS PRIVATE LIMITED,

                         CHEMICALS LTED., HYD               VS                          SECUNDERABAD                                                       

 

PET.ADV.: SURYA SATISH                                    RESP.ADV. :    

 

SUBJECT: COMPANY PETITION                          DISTRICT:  HYDERABAD

 

FILING DATE:  02-02-2015                                          POSTING STAGE :  FOR ADMISSION

REG. DATE    :   15-06-2015                     LISTING DATE :  03-08-2015                             STATUS   :  NOTICES

 

HON'BLE JUDGE(S):                                                                       C.V.NAGARJUNA REDDY  

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10388235

31/10/2012

7,500,000.00

UNION BANK OF INDIA

ABDUL REHMAN STREET BRANCH,BHAGAT MANSION, 176/18 
0,ABDUL REHMAN STREET, MUMBAI - 4000 
03, MAHARASHTRA, INDIA

B62687421

2

10147747

28/02/2009

15,000,000.00

UNION BANK OF INDIA

ABDUL REHMAN STREET BRANCH,BHAGAT MANSION, 176/18 
0,ABDUL REHMAN STREET, MUMBAI - 4000 
03, MAHARASHTRA, INDIA

B73836736

3

10085959

28/02/2009 *

40,000,000.00

UNION BANK OF INDIA

ABDUL REHMAN STREET BRANCH,BHAGAT MANSION, 176/180,ABDUL REHMAN STREET, MUMBAI - 400003, MAHARASHTRA, INDIA

B73833691

4

10085983

28/02/2009 *

40,000,000.00

UNION BANK OF INDIA

ABDUL REHMAN STREET BRANCH,BHAGAT MANSION, 176/18 
0,ABDUL REHMAN STREET, MUMBAI - 4000 
03, MAHARASHTRA, INDIA

B73834566

5

10085967

19/10/2007

8,000,000.00

UNION BANK OF INDIA

A. R. STREET BRANCH, 176-180, BHAGAT MANSION,, 1S 
T, 2ND & 3RD FLOORS, ABDUL REHMAN STREET, MUMBAI - 400003, 
MAHARASHTRA, INDIA

A31268691

6

10085968

19/10/2007

8,000,000.00

UNION BANK OF INDIA

A. R. STREET BRANCH, 176-180, BHAGAT MANSION,, 1S 
T, 2ND & 3RD FLOORS, ABDUL REHMAN STREET,, MUMBAI - 400003, 
MAHARASHTRA, INDIA

A31268741

 

* Date of charge modification

 

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Loans and Advances from Directors and Related Parties

15.783

2.987

Modi and Modi Finance

5.206

0.000

 

 

 

Total

 

20.989

2.987

 

 

FIXED ASSETS:

 

·         Furniture and Fixtures

·         Car-Skoda Activa

·         Computer

·         Office Equipment

·         Vehicles

·         Volswagan-Jetta

·         Nissan Micra

·         Xerox Machine

·         Air Conditioner

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 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.64.00

UK Pound

1

Rs.99.43

Euro

1

Rs.70.61

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

2

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

28

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.