MIRA INFORM REPORT

 

 

Report No. :

322985

Report Date :

18.05.2015

 

IDENTIFICATION DETAILS

 

Name :

TWENTYFIRST CENTURY PHARMACEUTICALS PRIVATE LIMITED

 

 

Registered Office :

360, SIDCO Estate, Chennai – 600098, Tamilnadu

Tel. No.:

91-44-26232775

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

21.03.1986

 

 

Com. Reg. No.:

18-012817

 

 

Capital Investment / Paid-up Capital :

Rs. 13.447 Million

 

 

CIN No.:

[Company Identification No.]

U24231TN1986PTC012817

 

 

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 :

Manufacturer, Trader, Exporter and Importer of Pharmaceutical and Nutraceutical Products.

 

 

No. of Employees :

350 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 620000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

There seems some dip in the turnover and profit of the company during FY 2014. However, net worth of the company is satisfactory. General financial position of the company is normal and acceptable for business dealings.

 

Trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct.

 

The company can be considered normal for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – 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

 

 

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 DETAILS)

 

Name :

Mr. Chanchal Singh

Designation :

Maintenance Manager

Contact No.:

91-8193002999

Date :

16.05.2015

 

 

LOCATIONS

 

Registered Office/ Factory 1 :

360, SIDCO Estate, Chennai – 600098, Tamilnadu, India

Tel. No.:

91-44-26232775/ 26232776

Fax No.:

91-44-42152268

E-Mail :

info@tfcpharma.com

Website :

www.tfcpharma.com

 

 

Head Office:

No. 34, Thyagaraya Gramani Street, T Nagar, Chennai – 600017, Tamil Nadu, India

 

 

Factory 2 :

Located at:

 

  • Roorkee, Uttarakhand, India

 

 

DIRECTORS

 

As on 29.09.2014

 

Name :

Mr. Vengandur Srikumar Raghunathan

Designation :

Managing Director

Address :

3B, Hamza Manor, 27 ARCOT Street, T Nagar, Chennai – 600017, Tamilnadu, India

Date of Birth/Age :

27.09.1951

Date of Appointment :

21.03.1986

DIN No.:

01830356

 

 

Name :

Mrs. Krishnaswamy Saroja

Designation :

Director

Address :

1489, 13th Main Road, Anna Nagar, Chennai – 600040, Tamilnadu, India

Date of Birth/Age :

27.10.1950

Date of Appointment :

30.09.2004

DIN No.:

01975085

 

 

KEY EXECUTIVES

 

Name :

Mr. Chanchal Singh

Designation :

Maintenance Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2014

 

Names of Shareholders

No. of Shares

 

Vijaya Srinivasan

30000

V.S. Vijayaraghavan

221750

V.S. Krishnaswamy

45000

V.S. Raghunathan

517750

V.S. Rajasekaran

36500

K. Saroja

15000

Rajeswari V.

3500

Vijayalakshmi Nagarajan

32500

Hemamalini. R

2500

R. Kamakshi

6250

Srikrishnan

15500

Sridharan

15500

V.S. Srinivasan

265000

V.K. Sriraman

2250

V.K. Sriranjani

2250

V. Arun

1000

Perin Alfred

55545

Srinivasan Murthy

52665

C. Yogalatha

24270

Total

1344730

 

Equity Share Break up (Percentage of Total Equity)

 

As on 29.09.2014

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

8.00

Directors or relatives of Directors

92.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Trader, Exporter and Importer of Pharmaceutical and Nutraceutical Products.

 

 

Products :

Pharmaceutical and Nutraceutical Products.

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Finished Good

Countries :
  • Uganda
  • Nigeria

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS (AS ON 31.03.2014)

 

(a) Chennai Unit

 

Particulars

Unit

Actual Production

Tablets

Nos.

25578420

Capsules

Nos.

123885000

Liquid

Nos.

Nil

Dry Syrup0

Nos.

Nil

 

(b) Roorkee Unit

 

Particulars

Unit

Actual Production

Tablets

Nos.

55065894

Capsules

Nos.

Nil

Liquid

Nos.

Nil

Dry Syrup0

Nos.

2365981

 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesalers and Retailers

 

Reference :

Glenmark Pharmaceuticals

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

350 (Approximately)

 

 

Bankers :

·         Canara Bank, SME Ambattur Branch, No.3, MTH Road, Padi, Chennai - 600050, Tamilnadu, India

 

·         Centurion Bank of Punjab Limited, Padma Complex, 320, Anna Salai, Nandanam, Chennai - 600035, Tamilnadu, India

 

  • State Bank of India, Siruthozhil Branch, 320, Valluvar Kottam High Road, Nungambakkam, Chennai - 600034, Tamilnadu, India

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Canara Bank – Term Loan I

63.825

78.828

Canara Bank – Term Loan II

0.000

1.803

Canara Bank – Term Loan III

2.045

5.645

Canara Bank – Term Loan IV

4.095

6.315

Canara Bank – Car Loan

1.904

0.000

Sundaram Finance

0.000

0.024

Short-term borrowings

 

 

Canara Bank CC Account

99.480

71.997

Total

171.349

164.612

NOTE:

 

LONG-TERM BORROWINGS

 

Canara Bank term Loans (I,II,III and IV) are secured by hypothecation of Plant and Machinery, factory land and building and further guaranteed by the directors

 

Term of Repayment

 

Term Loans No. I Repayable within 7 years commencing from August, 2010, Term loan.

 

Term loan No. II: Repayable within 33 months commencing from December 2010. Term Loan

 

Term Loans No. III: Repayable within 33 months commencing from April 2012.

 

Term Loans No. IV: Repayable within 35 Months commencing from March 2013.

 

SHORT-TERM BORROWINGS

 

Cash credit facility towards working capital purpose from bank is secured by hypothecation of stocks, receivables, all movable and immovable assets, factory land and building and further guaranteed by the directors.

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Sabapathy and Dhandapani

Chartered Accountants

Address :

New No 81, Old No 47, Dr. Radhakrishnan Salai, Chennai – 600004, Tamilnadu, India

Tel. No.:

91-44-28110900/ 42056568

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

AAPFS0207E

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

As on 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3000000

Equity Shares

Rs.10/- each

Rs. 30.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3000000

Equity Shares

Rs.10/- each

Rs. 30.000 Million

 

 

 

 

 

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3000000

Equity Shares

Rs.10/- each

Rs. 30.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1344730

Equity Shares

Rs.10/- each

Rs. 13.447 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

13.447

13.447

13.447

(b) Reserves & Surplus

203.235

131.075

97.779

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.001

0.001

Total Shareholders’ Funds (1) + (2)

216.682

144.523

111.227

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

97.845

101.950

106.644

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.250

0.250

0.250

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

98.095

102.200

106.894

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

99.480

71.997

70.580

(b) Trade payables

93.628

125.459

123.901

(c) Other current liabilities

1.131

1.722

0.575

(d) Short-term provisions

7.422

8.948

2.868

Total Current Liabilities (4)

201.661

208.126

197.924

 

 

 

 

TOTAL

516.438

454.849

416.045

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

274.412

226.332

216.609

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

2.126

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

276.538

226.332

216.609

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

50.887

68.448

69.038

(c) Trade receivables

127.071

148.226

121.989

(d) Cash and cash equivalents

48.094

4.178

3.077

(e) Short-term loans and advances

9.848

7.665

5.332

(f) Other current assets

4.000

0.000

0.000

Total Current Assets

239.900

228.517

199.436

 

 

 

 

TOTAL

516.438

454.849

416.045

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

500.935

561.092

446.974

 

Other Income

(0.906)

1.291

 

 

TOTAL (A)

500.029

562.383

446.974

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

339.017

400.990

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

7.147

(6.855)

388.262

 

Employees benefits expense

45.992

39.462

 

 

Other expenses

45.851

49.424

 

 

TOTAL (B)

438.007

483.021

388.262

 

 

 

 

 

Less

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

62.022

79.362

58.712

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

21.592

26.630

26.178

 

 

 

 

 

 

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

40.430

52.732

32.534

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

11.367

10.713

9.933

 

 

 

 

 

 

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

29.063

42.019

22.601

 

 

 

 

 

Less

TAX (H)

7.122

8.723

4.833

 

 

 

 

 

 

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

21.941

33.296

17.768

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 Exports Sales

19.452

12.688

0.442

 

TOTAL EARNINGS

19.452

12.688

0.442

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

16.00

25.00

NA

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

65.844

59.181

31.161

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

4.38

5.93

3.98

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

12.38

14.14

13.14

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

5.65

9.24

5.43

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.13

0.29

0.20

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.91

1.20

1.59

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.19

1.10

1.01

 

 

 

 

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

13.447

13.447

13.447

Reserves & Surplus

97.779

131.075

203.235

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.001

0.001

Net worth

111.226

144.523

216.683

 

 

 

 

long-term borrowings

106.644

101.950

97.845

Short term borrowings

70.580

71.997

99.480

Total borrowings

177.224

173.947

197.325

Debt/Equity ratio

1.593

1.204

0.911

 

 

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)

Total Income

446.974

562.383

500.029

 

 

25.820

(11.087)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

446.974

562.383

500.029

Profit

17.768

33.296

21.941

 

3.98%

5.92%

4.39%

 

 

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

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

PERFORMANCE AND FUTURE OUTLOOK

 

The company successfully incorporated a subsidiary company in Nigeria in the name of TFC Pharma Limited for exploring export market outside India.

 

The company has also finalized a major expansion plan by putting up a new green field project near Chennai to take advantage of the ever expanding pharma market. In this connection, it has acquired about 2 acres of land in Aranvoiyal Village, Thiruvallur District, Chennai

 

The company has successfully completed a major expansion plan at Roorkee which is a “Duty Free Zone” in Uttarakhand state by taking advantage of various tax sops.

 

NATURE OF OPERATION

 

Subject was incorporated in 1986, by Mr. V S Raghunathan. It is engaged in the business of manufacture of pharmaceutical and neutraceutical products. It also undertakes contract manufacturing for major pharmaceutical companies. It has owned two manufacturing units—one in Chennai (Tamil Nadu) and a newly set up unit in Roorkee (Uttarakhand).

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Due to directors and others

25.976

9.335

 

 

 

Total

25.976

9.335

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10184865

30/05/2012 *

236,900,000.00

CANARA BANK

SME AMBATTUR, 3, MTH ROAD, PADI, CHENNAI, TAMIL N
ADU - 600050, INDIA

B40198897

2

90305919

13/11/1989 *

100,000.00

CANARA BANK

PERAMBUR BRANCH, 68; MADHUARAM HIGH ROAD, CHENNAI
, TAMIL NADU - 600011, INDIA

-

 

* Date of charge modification

 

FIXED ASSETS

 

  • Land
  • Factory Building
  • Plant & Machinery
  • Electrical Installations
  • Laboratory Equipments
  • Furniture and Fittings
  • Office Equipments
  • Tools and Accessories
  • Computer
  • Utilities
  • Vehicle - Motor Car
  • Vehicle - Two Wheeler

 

 

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 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 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.63.58

UK Pound

1

Rs.100.30

Euro

1

Rs.72.38

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

KVT

 

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

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--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

 

45

 

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

 

--

 

 

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