MIRA INFORM REPORT
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Report No. : |
312417 |
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Report Date : |
16.03.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANTHA BIOTECHNICS PRIVATE LIMITED [w.e.f.19.11.2014] |
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Formerly Known
As : |
SHANTHA BIOTECHNICS LIMITED [w.e.f.25.08.2004] SHANTHA BIOTECHNICS PRIVATE LIMITED [w.e.f.20.08.2004] SHANTHA BIO TECHNICS PRIVATE LIMITED |
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Registered
Office : |
3rd and 4th Floors, H. No. 5-10-173, Fateh Maidan Road, Basheerbagh,
Hyderabad – 500004, Telangana |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.03.1993 |
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Com. Reg. No.: |
015470 |
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Capital
Investment / Paid-up Capital : |
Rs. 202.831 Millions |
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CIN No.: [Company Identification
No.] |
U24110TG1993PTC015470 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECS6982Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Biotechnology based on Pharmaceutical
Products. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (33) |
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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 8650000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Sanofi Pasteur Merieux SAS, France. It is
an established company having moderate track record. There is a drastic dip in the sales turnover of the company and it has
incurred huge operational loss during FY2014. However, trade relations seem to be fair. Business is active. Payment
terms 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
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.
LOCATIONS
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Registered/ Corporate Office : |
3rd and 4th Floors, H. No. 5-10-173, Fateh Maidan Road, Basheerbagh,
Hyderabad – 500004, Telangana, India |
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Tel. No. : |
91-44-66301000/ 23234104 |
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Fax No. : |
91-44-23234133 |
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E-Mail : |
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Website : |
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Medchal Office/ Factory : |
Post Box No.4, Medchal, Hyderabad – 501401, Andhra Pradeshs, India |
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Tel. No.: |
91-8418-220922/ 220693/ 4/ 5 |
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Fax No. : |
91-8418-220656 |
DIRECTORS
AS ON 23.09.2014
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Name : |
Mr. Harish Venkatachalam Iyer |
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Designation : |
Managing director |
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Address : |
Plot No. 26, Vasanth Valley, Kondapur, Serilingampally, Hyderabad,
Andhra Pradesh, India |
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Date of Birth/Age : |
22.10.1969 |
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Qualification : |
Ph.D (Chemical Engg.) |
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Date of Appointment : |
30.08.2011 |
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PAN No.: |
AAJPI1323F |
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DIN No. : |
02744989 |
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Name : |
Koduru Iswara Varaprasad Reddy |
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Designation : |
Director |
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Address : |
Plot No. 822, Road No. 40, Jubilee Hills, Hyderabad – 500033, Andhra
Pradesh, India |
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Date of Birth/Age : |
30.06.1947 |
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Qualification : |
B.Sc.,B.E.,MBA. |
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Date of Appointment : |
30.08.2011 |
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PAN No.: |
AEOPK0334F |
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DIN No. : |
00196148 |
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Name : |
Mr. Shailesh Ayyangar |
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Designation : |
Director |
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Address : |
A7, Rashmi Byramji Gamdia Road, Carmichea;\l Road, Mumbai – 400026,
Maharashtra, India |
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Date of Birth/Age : |
15.10.1954 |
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Qualification : |
A graduate in Veterinary Science, and holds a
Post-graduate Degree in Business Management from the Indian Institute of
Management (IIM), Ahmedabad, Gujarat |
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Date of Appointment : |
30.08.2011 |
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DIN No. : |
00268076 |
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Name : |
Olivier Charmeil |
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Designation : |
Director |
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Address : |
75, Rue De Courcelles, Paris 75008, France |
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Date of Birth/Age : |
19.02.1963 |
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Date of Appointment : |
03.09.2009 |
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DIN No. : |
00370311 |
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Name : |
Jean Louis Grunwald |
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Designation : |
Director |
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Address : |
46, Hua Guan Avenue, Singapore 589142 |
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Date of Birth/Age : |
20.05.1961 |
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Date of Appointment : |
30.08.2011 |
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DIN No. : |
00570064 |
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Name : |
Philippe Grillet |
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Designation : |
Director |
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Address : |
13, Rue Brochant Paris 75017, France |
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Date of Birth/Age : |
09.10.1958 |
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Date of Appointment : |
05.08.2013 |
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DIN No. : |
06633315 |
KEY EXECUTIVES
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Name : |
Rajasekar Narayanasamy |
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Designation : |
Secretary |
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Address : |
Plot No. 13, Cyber Medows, Kondapur, Hyderabad, Andhra Pradesh, India |
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Date of Birth/Age : |
14.08.1961 |
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Date of Appointment : |
23.04.2001 |
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PAN No.: |
ABKPN6370M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 23.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
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Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
97.12 |
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Directors or relatives of Directors |
2.76 |
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Others |
0.12 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Biotechnology based on Pharmaceutical
Products. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· IDBI Bank Limited 5-9-89/1&2, Chapel Road, Hyderabad - 500001, Andhra Pradesh, India · State Bank of India Plot No 241/A, Road No 36, Rajala Towers, 02nd Floor and 03rd Floor, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India · Export-Import Bank of India Floor 21, Centre One Building, World Trade Centre, Cuffe Parade,
Mumbai - 400006, Maharashtra, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse and Company Chartered Accountants |
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Address : |
#8-2-293/82/A/1131A, Road No. 36, Jubilee Hills, Hyderabad – 500034, Andhra Pradesh, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAHFP0187A |
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Ultimate Holding
company : |
Sanofi SA, France |
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Holding company : |
Sanofi Pasteur Merieux SAS |
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Subsidiary company
: |
Shantha West INC |
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Fellow Subsidiary
company : |
Sanofi Pasteur India Private Limited [U24232MH1996PTC205997] Sanofi-Synthelabo (India) Limited [U24230MH2002PLC137682] Sanofi India Limited [L24239MH1956PLC009794] Sanofi Aventis Pakistan Limited Sanofi Pasteur, Inc, Philippines Sanofi Pasteur Thailand Sanofi Aventis Malaysia Sanofi Aventis Uruguay Sanofi Pasteur, SA (France) Sanofi Pasteur (USA) Sanofi Pasteur (Canada) Sanofi Aventis, Singapore Sanofi Aventis Deutschland GMBH Sanofi Pasteur ASI TIC A.S. Turkey FRM Merial SAS |
CAPITAL STRUCTURE
AFTER 23.09.2014
Authorised Capital : Rs. 250.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 237.121
Millions
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
25,000,000 |
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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20,283,137 |
Equity Shares |
Rs.10/- each |
Rs. 202.831 Millions |
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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 |
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(1)Shareholders'
Funds |
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(a) Share Capital |
202.831 |
192.699 |
172.437 |
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(b) Reserves & Surplus |
2825.591 |
2620.849 |
897.321 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
1620.920 |
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Total
Shareholders’ Funds (1) + (2) |
3028.422 |
2813.548 |
2690.678 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
2694.102 |
67.406 |
1007.112 |
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(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 |
55.389 |
47.580 |
38.833 |
|
Total Non-current
Liabilities (3) |
2749.491 |
114.986 |
1045.945 |
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(4) Current Liabilities |
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(a) Short
term borrowings |
0.000 |
1750.000 |
0.000 |
|
(b) Trade
payables |
528.835 |
205.354 |
187.800 |
|
(c) Other
current liabilities |
192.839 |
103.367 |
844.163 |
|
(d) Short-term
provisions |
29.958 |
27.331 |
27.346 |
|
Total Current
Liabilities (4) |
751.632 |
2086.052 |
1059.309 |
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TOTAL |
6529.545 |
5014.586 |
4795.932 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
2365.813 |
1851.902 |
1921.100 |
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(ii)
Intangible Assets |
4.546 |
8.264 |
8.469 |
|
(iii)
Capital work-in-progress |
2315.881 |
2194.494 |
1600.166 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.170 |
0.170 |
0.170 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
223.025 |
204.121 |
194.401 |
|
(e) Other
Non-current assets |
24.458 |
4.287 |
3.084 |
|
Total Non-Current Assets |
4933.893 |
4263.238 |
3727.390 |
|
|
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(2) Current assets |
|
|
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1164.934 |
503.695 |
767.278 |
|
(c) Trade
receivables |
19.300 |
64.435 |
70.605 |
|
(d) Cash and
cash equivalents |
324.544 |
120.673 |
177.618 |
|
(e)
Short-term loans and advances |
77.281 |
60.181 |
47.759 |
|
(f) Other
current assets |
9.593 |
2.364 |
5.282 |
|
Total
Current Assets |
1595.652 |
751.348 |
1068.542 |
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|
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|
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TOTAL |
6529.545 |
5014.586 |
4795.932 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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SALES |
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Revenue from Operations |
257.285 |
670.445 |
263.239 |
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Other Income |
58.784 |
39.402 |
372.173 |
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TOTAL (A) |
316.069 |
709.847 |
635.412 |
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Less |
EXPENSES |
|
|
|
|
|
|
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Cost of Materials Consumed |
171.270 |
242.411 |
216.473 |
|
|
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Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(562.283) |
273.322 |
(345.359) |
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|
|
Employees benefits expense |
507.602 |
364.797 |
385.024 |
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|
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Other expenses |
1272.557 |
1069.061 |
864.752 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
-37.551 |
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|
|
TOTAL (B) |
1389.146 |
1949.591 |
1083.339 |
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|
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|
|
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PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(1073.077) |
(1239.744) |
(447.927) |
|
|
|
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|
|
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|
|
Less |
FINANCIAL
EXPENSES (D) |
158.605 |
111.075 |
175.752 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1231.682) |
(1350.819) |
(623.679) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
174.581 |
147.404 |
141.566 |
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|
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|
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|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(1406.263) |
(1498.223) |
(765.245) |
|
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|
|
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|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(1406.263) |
(1498.223) |
(765.245) |
|
|
|
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3442.171) |
(1943.948) |
(1178.703) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(4848.434) |
(3442.171) |
(1943.948) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
209.283 |
522.545 |
136.869 |
|
|
|
|
|
|
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|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
173.975 |
73.142 |
85.576 |
|
|
|
Stores & Spares |
101.474 |
125.222 |
68.775 |
|
|
|
Capital Goods |
259.257 |
138.167 |
200.758 |
|
|
TOTAL IMPORTS |
534.706 |
336.531 |
355.109 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(70.55) |
(79.63) |
(45.50) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(546.58) |
(223.47) |
(290.70) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(417.08) |
(184.91) |
(170.16) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(33.38) |
(53.13) |
(23.95) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.46) |
(0.53) |
(0.28) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.89 |
0.65 |
0.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.12 |
0.36 |
1.01 |
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 |
172.437 |
192.699 |
202.831 |
|
Reserves & Surplus |
897.321 |
2620.849 |
2825.591 |
|
Share Application money pending
allotment |
1620.920 |
0.000 |
0.000 |
|
Net
worth |
2690.678 |
2813.548 |
3028.422 |
|
|
|
|
|
|
long-term borrowings |
1007.112 |
67.406 |
2694.102 |
|
Short term borrowings |
0.000 |
1750.000 |
0.000 |
|
Total
borrowings |
1007.112 |
1817.406 |
2694.102 |
|
Debt/Equity
ratio |
0.374 |
0.646 |
0.890 |
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) |
|
Sales |
263.239 |
670.445 |
257.285 |
|
|
|
154.691 |
-61.625 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
263.239 |
670.445 |
257.285 |
|
Profit/ (Loss) |
(765.245) |
(1498.223) |
(1406.263) |
|
|
(290.70%) |
(223.47%) |
(546.58%) |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
2650.000 |
0.000 |
|
Deferred payment liabilities |
36.299 |
57.653 |
|
Other loans and advances |
7.803 |
9.753 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
0.000 |
1750.000 |
|
|
|
|
|
Total |
2694.102 |
1817.406 |
CHANGE OF ADDRESS
The Registered Office of the company has been shifted from Plot No. 822A,
Road No. 40, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India to the
present address w.e.f.23.09.2008.
GENERAL INFORMATION
Subject is a limited company incorporated under the
provisions of the Companies Act 1956 and is primarily engaged in the business
of manufacturing biotechnology based pharmaceutical products.
PERFORMANCE OF THE
COMPANY
The company could achieve a turnover of Rs. 257.285 Millions during the
year 2013-14 compared to Rs. 670.445 Millions during the previous year. The reduction
is mainly due to lesser sales of Hepatitis B vaccine and EPO sales Compared to
2012-13. The company sales are less mainly due to loss of prequalification of
Shan5, Company’s premium product.
Shan5 Premium product has been prequalified by WHO in April 2014 and the
sales are expected to commence from fourth quarter of the year 2014.
SPECIAL ECONOMIC
ZONE (SEZ)
The company is developing a Special Economic Zone in Muppireddypally near
the current facilities for research and manufacturing of biotech products and
related services. The SEZ has been notified by the Government of India in
August 2010. The company is also constructing manufacturing facilities in the
SEZ for the manufacturing and filling of various vaccines. The facilities are
expected to get into commercial operations in the year 2015-16.
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Other equipments
·
Computer software
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. 62.67 |
|
|
1 |
Rs. 93.16 |
|
Euro |
1 |
Rs. 66.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
33 |
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.