MIRA INFORM REPORT
|
Report No. : |
320887 |
|
Report Date : |
12.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
WESTERN DRUGS LIMITED (w.e.f. 17.04.2010) |
|
|
|
|
Formerly Known
As : |
WESTERN DRUGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-271 A, Mewar
Industrial Area, Madri, Udaipur – 313 003, Rajasthan |
|
Tel No : |
91-294-2490976 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 (Profit and Loss A/c.) |
|
|
|
|
Date of Incorporation
: |
20.04.1989 |
|
|
|
|
Com. Reg. No.: |
17-004914 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 41.485 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232RJ1989PLC004914 |
|
|
|
|
IEC No.: |
1389004066 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JDHW00033F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW2424P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of bulk drugs and pharmaceuticals
including vitamin pp, Niacin, Nicotinic acid, Niacin amide, and Nicotine amide. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 11000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having satisfactory track. As per Registrar
of companies the date of balance sheet i.e. financials filed is shown as 31st
March, 2014 but the balance sheet for FY 2013-2014 is not available. However, the general
financial position of the company seems to be fair. Trade relations
are fair. Business is active. Payments terms are reported to be usually
correct The company can
be considered 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY (GENERAL INFORMATION)
|
Name : |
Mr. Hirel Mehta |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-61232000 |
|
Date : |
04.05.2015 |
LOCATIONS
|
Registered Office/ Factory : |
F-271 A, Mewar Industrial
Area, Madri, Udaipur – 313 003, Rajasthan, India |
|
Tel. No.: |
91-294-2490976/ 3293915 |
|
Mobile No.: |
Not Available |
|
Fax No.: |
91-294-2490676 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
321, Tantia - Jogani Industrial Premises, Co-Operative
Society Limited, Sitaram Mills Compound, J.R. Boricha Marg, Mumbai - 400 011,
|
|
Tel. No.: |
91-22-61232000 |
|
Fax No.: |
91-22-61232030 |
|
E-Mail : |
DIRECTORS
As on: 15.09.2014
|
Name : |
Mr. Mahavir Chunni Lal Ranka |
|
Designation : |
Chairman |
|
Address : |
4, Prena Vidhya
Marg, |
|
Date of Birth/Age : |
15.06.1954 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
27.09.1991 |
|
DIN No.: |
00337553 |
|
|
|
|
Name : |
Mr. Bhagwati Lal Dagliya |
|
Designation : |
Managing Director |
|
Address : |
87, Ganesh
Nagar, |
|
Date of Birth/Age : |
11.11.1951 |
|
Qualification : |
M. Com |
|
Date of Appointment : |
20.04.1989 |
|
DIN No.: |
00302082 |
|
|
|
|
Name : |
Mr. Mishri Lal Lodha |
|
Designation : |
Director |
|
Address : |
26-27 Pratap
Colony, Ganesh Nagar, |
|
Date of Birth/Age : |
01.03.1952 |
|
Qualification : |
B.Sc |
|
Date of Appointment : |
20.04.1989 |
|
DIN No.: |
00302054 |
|
|
|
|
Name : |
Mr. Dilip Bakhtwar Ranka |
|
Designation : |
Director |
|
Address : |
111/19, |
|
Date of Birth/Age : |
25.09.1966 |
|
Qualification : |
MBA |
|
Date of Appointment : |
27.09.1991 |
|
DIN No.: |
00337719 |
|
|
|
|
Name : |
Rajendra Harlalka |
|
Designation : |
Independent Director |
|
Address : |
11, Laxmi Bhawan, 58, D Road, Church Gate, Mumbai – 400020,
Maharashtra, India |
|
Date of Birth/Age : |
10.09.1960 |
|
Date of Appointment : |
15.09.2014 |
|
DIN No.: |
00516594 |
|
|
|
|
Name : |
Surendra Kumar |
|
Designation : |
Independent Director |
|
Address : |
7B, Bapu Bazar Circle, Above Shri Udaipur Krishi Kendra, Udaypur –
313001, Rajasthan, India |
|
Date of Birth/Age : |
08.07.1972 |
|
Date of Appointment : |
15.09.2014 |
|
DIN No.: |
06910789 |
KEY EXECUTIVES
|
Name : |
Mr. Hirel Mehta |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 15.09.2014
|
Names of Shareholders |
No. of Shares |
|
Bhagwati Lal Dagliya |
214600 |
|
Mishri Lal Lodha |
378510 |
|
Bhagwati Devi Lodha |
148240 |
|
Maheshwari E. Dora |
375260 |
|
Vikram M. Ranka |
168750 |
|
Mahavir C. Ranka |
65550 |
|
Nikhil M. Ranka |
165640 |
|
Hitesh J. Ranka |
139750 |
|
Anil J. Ranka |
139750 |
|
Dilip B. Ranka |
56000 |
|
Manish J. Ranka |
139750 |
|
Sanjay J. Ranka |
139750 |
|
Ridhi D. Ranka |
150000 |
|
Riya D. Ranka |
143650 |
|
Sulochna B. Ranka |
431780 |
|
Bakhtawar C. Ranka |
100000 |
|
Usha M. Ranka |
642810 |
|
Neena D. Ranka |
236570 |
|
Chandresh Dagliya |
31215 |
|
Chandra B. Dagliya |
280935 |
|
|
|
|
Total |
4148510 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
91.00 |
|
Other top fifty shareholders |
9.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of bulk drugs and pharmaceuticals
including vitamin pp, Niacin, Nicotinic acid, Niacin amide, and Nicotine amide. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesaler, Retailer and Manufacturer
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Chartered Accountants |
|
Address : |
66, Panchsheel Marg, 1st Floor, Near Town Hall, |
|
Tel. No.: |
91-294-2420177/ 2414277 |
|
Fax No.: |
91-294-2412985 |
|
PAN No.: |
AABFO0980E |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on : 15.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4148510 |
Equity Shares |
Rs.10/- each |
Rs. 41.485
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 |
NA |
41.485 |
41.485 |
|
(b) Reserves & Surplus |
NA |
572.905 |
501.042 |
|
(c) Money
received against share warrants |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
NA |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
NA |
614.390 |
542.527 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
NA |
221.662 |
205.199 |
|
(b) Deferred tax liabilities (Net) |
NA |
74.381 |
56.535 |
|
(c) Other long term
liabilities |
NA |
0.000 |
0.000 |
|
(d) long-term
provisions |
NA |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
NA |
296.043 |
261.734 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
NA |
69.391 |
78.455 |
|
(b) Trade
payables |
NA |
71.555 |
64.395 |
|
(c) Other
current liabilities |
NA |
41.970 |
21.150 |
|
(d) Short-term
provisions |
NA |
15.756 |
16.283 |
|
Total Current
Liabilities (4) |
NA |
198.672 |
180.283 |
|
|
|
|
|
|
TOTAL |
NA |
1109.105 |
984.544 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
NA |
497.377 |
432.896 |
|
(ii)
Intangible Assets |
NA |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
NA |
41.654 |
23.717 |
|
(iv)
Intangible assets under development |
NA |
0.000 |
0.000 |
|
(b) Non-current Investments |
NA |
95.030 |
80.030 |
|
(c) Deferred tax assets (net) |
NA |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
NA |
15.041 |
16.539 |
|
(e) Other
Non-current assets |
NA |
0.000 |
0.000 |
|
Total Non-Current
Assets |
NA |
649.102 |
553.182 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
NA |
0.000 |
0.000 |
|
(b)
Inventories |
NA |
163.580 |
204.882 |
|
(c) Trade
receivables |
NA |
164.944 |
146.577 |
|
(d) Cash
and cash equivalents |
NA |
21.703 |
17.224 |
|
(e)
Short-term loans and advances |
NA |
109.353 |
61.832 |
|
(f) Other
current assets |
NA |
0.423 |
0.847 |
|
Total
Current Assets |
NA |
460.003 |
431.362 |
|
|
|
|
|
|
TOTAL |
NA |
1109.105 |
984.544 |
Balance Sheet for
the Financial year 2014 is not available whereas only Profit and Loss Statement
is Available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1556.714 |
1549.673 |
1623.157 |
|
|
|
Other Income |
15.465 |
7.064 |
5.594 |
|
|
|
TOTAL |
1572.179 |
1556.737 |
1628.751 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1125.677 |
1051.755 |
1255.453 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(43.080) |
45.726 |
(24.464) |
|
|
|
Employees benefits expense |
74.888 |
63.027 |
53.188 |
|
|
|
Other expenses |
212.443 |
190.841 |
105.535 |
|
|
|
TOTAL |
1369.928 |
1351.349 |
1389.712 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
202.251 |
205.388 |
239.039 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
47.519 |
32.720 |
20.727 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
154.732 |
172.668 |
218.312 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
31.073 |
26.503 |
20.058 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
123.659 |
146.165 |
198.254 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
43.604 |
50.194 |
64.399 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
80.055 |
95.971 |
133.855 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.30 |
23.13 |
32.27 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.14 |
6.19 |
8.25 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
12.99 |
13.25 |
14.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
---- |
15.03 |
22.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
---- |
0.24 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
---- |
0.47 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
---- |
2.32 |
2.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1623.157 |
1549.673 |
1556.714 |
|
|
|
(4.527) |
0.454 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1623.157 |
1549.673 |
1556.714 |
|
Profit |
133.855 |
95.971 |
80.055 |
|
|
8.25% |
6.19% |
5.14% |
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 |
No |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CHANGE IN THE NAME OF COMPANY
The company is
converted into Public Limited Company and the name of the company is changed to
“Western Drugs Limited”. The Registrar of Company has given the permission of change
and issued the new Incorporation Certificate with effect from 17th
April, 2010.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and Advances from Related Parties |
NA |
113.924 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10523043 |
07/08/2014 |
120,000,000.00 |
Citi Bank N.A. |
First International Financial Centre, Plot No. C |
C24306219 |
|
2 |
10321116 |
24/10/2011 |
80,000,000.00 |
BANK OF BARODA |
PANCHSHEEL MARG, MAIN BRANCH, UDAIPUR, Rajasthan |
B26832808 |
|
3 |
10318405 |
20/10/2011 |
70,000,000.00 |
CITIBANK N. A. |
DLF SQUARE BUILDING, M BLOCK,, JACARANDA MARG, DL |
B25606054 |
|
4 |
90074245 |
07/08/2014 * |
435,000,000.00 |
Citi Bank N.A. |
First International Financial Centre, Plot No. C- |
C24312399 |
|
5 |
90075577 |
07/08/2014 * |
315,000,000.00 |
Citi Bank N.A. |
First International Financial Centre, 9th Floor, |
C24317208 |
* Date of charge modification
FIXED ASSETS
- Land
- Factory
Building
- Other
Building
- Plant and
Machinery
- Furniture and
Fixture
- Vehicle
- Office
Equipment
- Computer
- Office
Building - Mumbai
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 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.63.84 |
|
|
1 |
Rs.98.46 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
NO |
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
YES |
|
--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 |
|
49 |
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
unfavorable 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.