MIRA INFORM REPORT

 

 

Report No. :

347785

Report Date :

03.11.2015

 

IDENTIFICATION DETAILS

 

Name :

ADANI PHARMACHEM PRIVATE LIMITED

 

 

Registered Office :

251, Toral Commercial Complex, Jawahar Road, Rajkot – 360001, Gujarat

Tel. No.:

91-2827-287165

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

05.04.1999

 

 

Com. Reg. No.:

04-035693

 

 

Capital Investment / Paid-up Capital :

Rs. 4.544 Million

 

 

CIN No.:

[Company Identification No.]

U24231GJ1999PTC035693

 

 

IEC No.:

2488007005

 

 

VAT / TIN No.:

24091100908

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

RKTA00042A

 

 

PAN No.:

[Permanent Account No.]

AADCA2201R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacture, Exporter and Importer of APIs (Active Pharmaceutical Ingredients) and Fine Chemicals.

 

 

No. of Employees :

40 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (47)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 190000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was established in 1981 as a partnership firm and it was converted into private limited company in 1999. The company is engaged in the business of manufacturing bulk drugs and fine chemicals. Its products include iodine & derivatives, piperazine derivatives, citrate derivatives, spice oleoresin & herbals etc.

 

For the financial year ended 2015, company has reported 8.16% sales turnover growth as compared to previous sales turnover and it has maintained decent profitability margins at 8.13% during the year under a review.

 

Rating takes into consideration company's established track record of business operations backed by its promoters extensive industry experience in pharma segment.

 

Rating also takes into consideration its above average financial profile marked by sound net worth base along with modest debt coverage indictors and favorable gap between trade payables to its receivables.

 

Trade relations are reported as fair. Payment terms are reported to be usually correct.

 

In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

 

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

CARE

Rating

Long term bank facilities: BB+ (Suspended)

Rating Explanation

Inadequate credit quality and high credit risk.

Date

11.03.2015

 

 

Rating Agency Name

CARE

Rating

Short term bank facilities: A4+ (Suspended)

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

11.03.2015

 

Reason for Suspension: Absence of adequate information.

 

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 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Jignesh Jajal

Designation :

Accounts Manager

Tel. No.:

91-2827-287165

Date:

02.11.2015

 

 

LOCATIONS

 

Registered Office :

251, Toral Commercial Complex, Jawahar Road, Rajkot – 360001, Gujarat, India

Tel. No.:

91-2827-287165

Fax No.:

Not Available

E-Mail :

exports@adanipharma.com  

rushabh@adanipharma.com 

cb191@corpbank.co.in

Website :

http://www.adanipharma.com

 

 

Corporate Office :

Rashtriyashala Marg, Rajkot - 360002, Gujarat, India

 

 

Admin Office /  Factory  :

Plot No. 2729 to 2731, Road I-1, Lodhika, GIDC, Village Metoda, Taluka Lodhika, Rajkot-360021, Gujarat, India

Mobile No.:

91-7573044087/88/89/90

Tel No.:

91-2827-287166

E-Mail :

Exports@adanipharma.com  (Exports and Sales)

 

 

Branch Office :

Manish Compound, Building No. 2, Thane-Bhiwandi Road, Bhiwandi, District Thane, Maharashtra, India

 

 

DIRECTORS

 

AS ON: 30.09.2014

 

Name :

Mr. Rushabh Hareshbhai Adani

Designation :

Managing Director

Address :

Prayag Appartment, C-7, 7th Floor, Shroff Road, Rajkot – 360001, Gujarat, India

Date of Birth/Age :

28.08.1981

Qualification :

BBA

Date of Appointment :

21.07.2011

Din No.:

00298500

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

U24231GJ1999PTC035693

ADANI PHARMACHEM PRIVATE LIMITED

Managing director

21/07/2011

01/04/2004

-

Active

NO

 

 

Name :

Mr. Harshad Anantray Adani

Designation :

Director

Address :

B/H Rashtriya school, Rashtriya Shala, Compound, Rajkot-360002, Gujarat, India

Date of Birth/Age :

15.06.1953

Qualification :

B.Sc.

Date of Appointment :

05.04.1999

Din No.:

00290012

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

U15400GJ1995PTC027318

ADANI FOOD PRODUCTS PRIVATE LIMITED

Director

06/09/1995

06/09/1995

-

Active

NO

2

U24231GJ1999PTC035693

ADANI PHARMACHEM PRIVATE LIMITED

Director

05/04/1999

05/04/1999

-

Active

NO

 

 

Name :

Mrs. Nirali Rushabh Adani

Designation :

Director

Address :

C-7, Prayag C Appartment, Behind Mohit Hotel, Shroff Road, Rajkot – 360001, Gujarat, India

Date of Birth/Age :

29.05.1981

Date of Appointment :

07.01.2011

Din No.:

03383012

 

KEY EXECTUVIE

 

Name :

Mr. Jignesh Jajal

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 30.09.2014

 

Names of Shareholders

 

No. of Shares

Harshad A Adani

 

77736

Mrudaula P. Adani

 

37067

Usha A. Adani

 

34729

Rushabh H. Adani

 

227800

Nirali R. Adani

 

27668

Arunaben H. Adani

 

20000

Kappac Pharma Limited, India

 

18750

Mangesh Hasmukhray Shah

 

16875

Hasmukhray I.  Shah HUF

 

3125

 

 

 

Total

 

463750

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON: 30.09.2014

 

Category

Percentage

Bodies corporate

4.04

Directors or relatives of Directors

91.65

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacture, Exporter and Importer of APIs (Active Pharmaceutical Ingredients) and Fine Chemicals.

 

 

Products :
  • Iodine and derivaives
  • Piperazine derivatives
  • Citrate derivatives
  • Spice oleoresin and herbals etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • African
  • Asian Countries
  • Vietnam
  • Egypt
  • Pakistan
  • America Countries
  • Indian Subcontinent

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

L/C, Cash and Credit

 

 

Purchasing :

L/C, Cash and Credit

 

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Needs Chemicals, Ahmedabad, Gujarat, India

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, Retailers  and End users

 

Reference :

Aarti Industries Limited

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 :

40 (Approximately)

 

 

Bankers :

Banker Name

Corporation Bank

Branch Address

Main Branch, 'Nijanand", Dhebar Road, Rajkot - 360001, Gujarat, 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 Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Corporation Bank (Cash Credit)

NA

16.606

Corporation Bank (FBP)

NA

17.930

Corporation Bank (PCL)

NA

0.000

Corporation Bank (Term Loan)

NA

3.535

 

 

 

Total

NA

38.071

 

Auditors :

 

Name :

Kalpesh S. D and Company

Chartered Accountants

Address :

411, Cosmo Complex, Near Mahila College Circle, Rajkot – 360 001, Gujarat, India

Tel. No.:

91-181-2225278 / 2473599

PAN No.:

AAJFK6304Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Adani Food Products Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital : Not Available

 

Issued, Subscribed & Paid-up Capital : Rs. 4.544 Million

 

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs.10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

445000

Equity Shares

Rs.10/- each

Rs.4.450 Million

18750

Equity Shares

Rs.5/- each

Rs.0.094 Million

 

 

 

 

 

Total

 

Rs.4.544 Million

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

4.544

4.544

4.344

(b) Reserves & Surplus

63.227

51.569

44.572

(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)

67.771

56.113

48.916

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

44.081

57.830

67.209

(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)

44.081

57.830

67.209

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

60.304

39.674

35.160

(c) Other current liabilities

49.613

46.612

51.247

(d) Short-term provisions

0.735

1.165

1.034

Total Current Liabilities (4)

110.652

87.451

87.441

 

 

 

 

TOTAL

222.504

201.394

203.566

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

34.615

35.947

40.355

(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

3.969

2.376

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.603

0.585

1.461

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

39.187

38.908

41.816

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

18.334

32.470

16.287

(c) Trade receivables

125.593

80.706

117.853

(d) Cash and cash equivalents

18.886

20.678

10.088

(e) Short-term loans and advances

20.504

28.632

17.522

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

183.317

162.486

161.750

 

 

 

 

TOTAL

222.504

201.394

203.566

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

537.897

495.697

584.780

 

Other Income

1.956

3.392

1.985

 

TOTAL (A)

539.853

499.089

586.765

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchases

438.080

436.865

485.514

 

Employee Benefits Expenses

11.156

9.585

8.550

 

Other Expenses

47.666

44.398

8.936

 

Changes in Inventories

14.136

(16.183)

51.931

 

TOTAL (B)

511.038

474.665

554.931

 

 

 

 

 

Less

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

28.815

24.424

31.834

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

6.968

5.715

6.773

 

 

 

 

 

 

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

21.847

18.709

25.061

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

5.020

3.553

3.800

 

 

 

 

 

 

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

16.827

15.156

21.261

 

 

 

 

 

Less

TAX (H)

5.170

4.690

7.100

 

 

 

 

 

 

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

11.657

10.466

14.161

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

43.913

33.447

19.286

 

 

 

 

 

 

Balance Carried to the B/S

55.570

43.913

33.447

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Export Earnings

NA

242.450

344.813

 

TOTAL EARNINGS

NA

242.450

344.813

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

NA

271.621

266.024

 

TOTAL IMPORTS

NA

271.621

266.024

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

27.00

24.00

33.00

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

(0.251)

Net Cash from Operating Activities

NA

NA

(7.286)

 

 

KEY RATIOS

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

 

Net Profit Margin

(PAT / Sales)

(%)

2.17

2.11

2.42

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

5.36

4.93

5.44

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

7.70

7.62

10.44

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.25

0.27

0.43

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.65

1.03

1.37

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.66

1.86

1.85

 

 

 

 

 

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

4.344

4.544

4.544

Reserves & Surplus

44.572

51.569

63.227

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

48.916

56.113

67.771

 

 

 

 

long-term borrowings

67.209

57.830

44.081

Short term borrowings

0.000

0.000

0.000

Total borrowings

67.209

57.830

44.081

Debt/Equity ratio

1.374

1.031

0.650

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

584.780

495.697

537.897

 

 

(15.234)

8.513

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

584.780

495.697

537.897

Profit

14.161

10.466

11.657

 

2.42%

2.11%

2.17%

 

 

 

 

 

 

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

Yes

18

Major suppliers

Yes

19

Major customers

Yes

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

Yes

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

 

 

NOTE: Registered office of the company has been shifted from 198/2 Aji GIDC Road Rajkot – 360003, Gujarat, India to the present address w.e.f. w.e.f. 01.08.2013

 

UNSECURED LOAN:

 

PARTICULAR

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

LONG TERM BORROWINGS

 

 

From Directors, Shareholders and Relatives

NA

19.759

Total

NA

19.759

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

90105415

29/07/2015 *

174,240,000.00

Corporation Bank Main Branch

NIJANAND, DHEBAR ROAD, RAJKOT, GUJARAT - 360001, 
INDIA

C60426970

 

* Date of charge modification

 

 

FIXED ASSETS:

 

 

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 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. 65.48

UK Pound

1

Rs. 101.06

Euro

1

Rs. 72.21

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAR

 

 

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

6

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

5

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

47

 

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.