MIRA INFORM REPORT
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Report No. : |
344184 |
|
Report Date : |
07.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
HARIKA DRUGS PRIVATE LIMITED |
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Registered
Office : |
7-2-1813/5/A/1, 2nd
Floor, Classic Arcade, Road No.1, Czech Colony, Sanath Nager,
Hyderabad – 500018, Telangana |
|
Tel. No.: |
91-40-23814863 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.10.1989 |
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Com. Reg. No.: |
36-010584 |
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Capital
Investment / Paid-up Capital : |
Rs.6.290 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U24230TG1989PTC010584 |
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|
IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Subject is engaged in the business of manufacture of bulk drugs and intermediates. |
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No. of Employees
: |
110 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 145000 |
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|
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a private limited company established in the year 1989,
having satisfactory track. It is a manufacturer and exporter of bulk drugs. The company has reported acceptable revenue base in FY 2014 along with
fair profit margin. However, it has reported minimal networth base along with
comfortable gearing in the year under consideration. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with 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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB- (Suspended) |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
July 31, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating =
A4+ (Suspended) |
|
Rating Explanation |
Minimal degree of
safety and very high credit risk. |
|
Date |
July 31, 2015 |
Reason for suspension: Absence of adequate
information from the company.
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. Srinivas Rao |
|
Designation : |
Account Manager |
|
Contact No.: |
91-40-23814863 |
LOCATIONS
|
Registered Office : |
7-2-1813/5/A/1, 2nd
Floor, Classic Arcade, Road No.1 Czech Colony, Sanath Nager, Hyderabad
- 500018 Telangana, India |
|
Tel. No.: |
91-40-23814863/23700915 |
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Fax No.: |
91-40-23700731 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
|
|
Factory : |
Gummadidala, Medak District, Telangana, India |
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Tel. No.: |
91-8458-275369 |
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Area : |
3 Acres |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Amarmath Uppalapati |
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Designation : |
Managing Director |
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Address : |
H.No.36/A, Vengal Rao Nagar, Hyderabad – 500038, Telangana, India |
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Date of Birth/Age : |
17.04.1963 |
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Date of Appointment : |
24.12.1992 |
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DIN No.: |
00658160 |
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Other Directorship:
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Name : |
Mr. Adusumilli Venkata
Ramakrishnarao |
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Designation : |
Director |
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Address : |
Plot No.9, Tahirville Yosufguda Check Post, Hyderabad – 500045,
Telangana, India |
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Date of Birth/Age : |
02.08.1961 |
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Date of Appointment : |
28.08.1995 |
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DIN No.: |
00810166 |
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Other Directorship:
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Name : |
Mr. Vijay Uppalapati |
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Designation : |
Director |
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Address : |
36/A, Vengal Rao Nagar, Hyderabad – 500038, Telangana, India |
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Date of Birth/Age : |
15.06.1970 |
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Date of Appointment : |
07.01.2013 |
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DIN No.: |
03031363 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Shrinivas Rao |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Amarmath Uppalapati |
3030 |
48.17 |
|
Adusumilli Venkata
Ramakrishnarao |
240 |
3.82 |
|
N. Lakshmi |
80 |
1.27 |
|
U.Sita Mahalaxmi |
200 |
3.18 |
|
U. Vijaya |
2580 |
41.02 |
|
N. Satyanarayana |
80 |
1.27 |
|
A. Madhuri |
80 |
1.27 |
|
Total |
6290 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacture of bulk drugs and
intermediates. |
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Products : |
Bulk Drugs |
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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 : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Cheque and Credit |
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Purchasing : |
Cheque and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
110 (Approximately) |
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Bankers : |
· ICICI Bank Limited- S.D Road, Secundrabad, Telangana, India |
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Facilities : |
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Auditors : |
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Name : |
Pavuluri and Company Chartered Accountants |
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Address : |
105, I Block, I Floor, Divya Shakti Complex, Ameerpet, Hyderabad – 500 016, Telangana, India |
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Tel. No.: |
91-40-23731837/40258691 |
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Fax No.: |
91-40-23748729 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAKFP8963F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates Companies: |
·
Verdant Life Science private Limited ·
Venkatarama Chemicals Private Limited ·
Orgasyynth Labs Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.1000/- each |
Rs.10.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6290 |
Equity Shares |
Rs.1000/- each |
Rs. 6.290
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 |
6.290 |
6.290 |
1.790 |
|
(b) Reserves & Surplus |
44.695 |
39.472 |
36.013 |
|
(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) |
50.985 |
45.762 |
37.803 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
78.238 |
77.803 |
73.503 |
|
(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 |
1.155 |
0.959 |
0.621 |
|
Total Non-current
Liabilities (3) |
79.393 |
78.762 |
74.124 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
41.665 |
35.746 |
40.172 |
|
(b) Trade
payables |
88.419 |
60.076 |
62.805 |
|
(c) Other
current liabilities |
27.702 |
25.016 |
17.423 |
|
(d) Short-term
provisions |
1.230 |
0.763 |
0.638 |
|
Total Current
Liabilities (4) |
159.016 |
121.601 |
121.038 |
|
|
|
|
|
|
TOTAL |
289.394 |
246.125 |
232.965 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
83.357 |
48.456 |
51.172 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
35.146 |
18.731 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.319 |
8.818 |
7.304 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
89.676 |
92.420 |
77.207 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
69.116 |
63.460 |
65.360 |
|
(c) Trade
receivables |
83.259 |
53.891 |
65.305 |
|
(d) Cash
and cash equivalents |
2.843 |
1.428 |
5.571 |
|
(e)
Short-term loans and advances |
44.310 |
34.892 |
18.857 |
|
(f) Other
current assets |
0.190 |
0.034 |
0.665 |
|
Total
Current Assets |
199.718 |
153.705 |
155.758 |
|
|
|
|
|
|
TOTAL |
289.394 |
246.125 |
232.965 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operation |
371.720 |
381.466 |
309.497 |
|
|
|
Other Income |
0.272 |
2.107 |
21.519 |
|
|
|
TOTAL |
371.992 |
383.573 |
331.016 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
279.082 |
306.396 |
271.460 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.370 |
(1.473) |
(9.762) |
|
|
|
Employees benefits expense |
17.992 |
14.855 |
10.666 |
|
|
|
Other expenses |
40.758 |
40.157 |
35.463 |
|
|
|
TOTAL |
339.202 |
359.935 |
307.827 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
32.790 |
23.638 |
23.189 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
15.781 |
12.867 |
12.350 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
17.009 |
10.771 |
10.839 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.557 |
6.766 |
7.596 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
6.452 |
4.005 |
3.243 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.229 |
0.546 |
(1.429) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
5.223 |
3.459 |
4.672 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
112.342 |
97.715 |
97.715 |
|
|
TOTAL EARNINGS |
112.342 |
97.715 |
195.43 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
45.534 |
33.814 |
55.298 |
|
|
|
Capital Goods |
0.000 |
0.000 |
0.832 |
|
|
|
Expenditure |
0.178 |
0.194 |
0.105 |
|
|
TOTAL IMPORTS |
45.712 |
34.008 |
56.235 |
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
830.00 |
550.00 |
743.00 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
390.000 |
The above information has been parted by Mr. Srinivas Rao (Account
Manager)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
7.631 |
7.920 |
5.329 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.41 |
0.91 |
1.51 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.82 |
6.20 |
7.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.23 |
1.90 |
1.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.09 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.50 |
2.65 |
3.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.26 |
1.29 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1.790 |
6.290 |
6.290 |
|
Reserves & Surplus |
36.013 |
39.472 |
44.695 |
|
Net
worth |
37.803 |
45.762 |
50.985 |
|
|
|
|
|
|
long-term borrowings |
73.503 |
77.803 |
78.238 |
|
Short term borrowings |
40.172 |
35.746 |
41.665 |
|
Current Maturities of
Long-Term Debts |
5.329 |
7.920 |
7.631 |
|
Total
borrowings |
119.004 |
121.469 |
127.534 |
|
Debt/Equity
ratio |
3.148 |
2.654 |
2.501 |
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 |
309.497 |
381.466 |
371.720 |
|
|
|
23.254 |
(2.555) |
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 |
309.497 |
381.466 |
371.720 |
|
Profit |
4.672 |
3.459 |
5.223 |
|
|
1.51% |
0.91% |
1.41% |
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 |
Yes |
|
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 |
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 four 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 36/A, Vengal Rao Nagar, S.R. Nagar, Hyderabad – 500038, Telangana, India to the present address w.e.f. 01.10.2013
CORPORATE INFORMATION
Subject has been incorporated on 19th October 1989. At present the company is engaged in the business of manufacture of bulk drugs and intermediates.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loan From Related Parties |
0.400 |
0.400 |
|
Venkatrama Chemicals Private Limited |
43.550 |
43.550 |
|
LIC Loan |
27.993 |
25.428 |
|
Fullerton India Credit Limited |
0.576 |
1.249 |
|
Tata Capital Finance Service Limited |
0.000 |
0.460 |
|
Ratnakar Bank Limited |
2.160 |
0.000 |
|
Slandered Charter Bank |
0.786 |
1.847 |
|
Total |
75.465 |
72.934 |
INDEX
OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10541183 |
29/01/2015 * |
82,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, Gujarat, INDIA |
C42135848 |
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Bore wells
- Furniture and Fixtures
- Office Equipment
- Electrical Installation
- Motor Car
- Computer
- Pollution Treatment Plant
- Fire Equipment
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.65.39 |
|
|
1 |
Rs.99.05 |
|
Euro |
1 |
Rs.73.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.