MIRA INFORM REPORT
|
Report No. : |
347276 |
|
Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
WATSON PHARMA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
21-22, Kalpataru Square, Kondivita Off Andheri Kurla Road, Andheri
(East), Mumbai – 400059, Maharashtra |
|
Tel. No.: |
91-22-66886700 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
21.10.2005 |
|
|
|
|
Com. Reg. No.: |
11-156968 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 550.025 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2005PTC156968 |
|
|
|
|
IEC No.: |
0305080288 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMW02844C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW6074D |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
|
|
Line of Business
: |
Manufacturing of pharmaceuticals. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘ACTAVIS PLC’, IRELAND, The company engaged
in the manufacturing and distribution of pharmaceuticals. Its products
include generic, brand and biologic pharmaceuticals products. For the financial year ended 2015, the company possesses healthy
operational performance and it has maintained decent profitability margins at
9.42% during the year under a review. Rating takes into consideration company’s strong financial profile supported
by its zero debt balance sheet along with strong net worth base and strong
protection indicates. Rating also takes into account of well experience management team and
strong financial and managerial support that company receives from its parent
entity. Trade relations are reported as fair. Payments are reported to be
regular and as per commitment. In view of aforesaid, the company can be considered good for normal
business dealings at usual trade terms and conditions. Note: Management of the company has change its financial year filling from
December to March. Financial record of 2015 is of 15 months. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Kersi Mistry |
|
Designation : |
Admin Department |
|
Contact No.: |
91-9892020013 |
|
Date : |
28.10.2015 |
LOCATIONS
|
Registered Office : |
21-22, Kalpataru Square, Kondivita Off Andheri Kurla Road, Andheri
(East), Mumbai – 400059, Maharashtra, India
|
|
Tel. No.: |
91-22-66886700 |
|
Fax No.: |
91-22-66886799 |
|
E-Mail : |
rajesh.sharma@watsonpharm.co.in muralidharan.cs@watsonpharma.co.in
shivshanker.shenoy@watsonpharm.co.in
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. A3 to A6, Phase I-A, Verna Industrial Estate, Unit IV, Verna
Salcettle - 403722, Goa, India |
DIRECTORS
AS ON 29.05.2015
|
Name : |
Mr. Muralidharan Sundaresan Chinnadharavaram |
|
Designation : |
Managing Director |
|
Address : |
302 B Wing, |
|
Date of Birth/Age : |
05.02.1963 |
|
Date of Appointment : |
20.05.2010 |
|
DIN No.: |
|
|
|
|
|
Name : |
Mr. David Adam Irving Buchen |
|
Designation : |
Director |
|
Address : |
1967, |
|
Date of Birth/Age : |
22.06.1964 |
|
Date of Appointment : |
21.10.2005 |
|
DIN No.: |
00839184 |
|
|
|
|
Name : |
Patrick Gerard Brunner |
|
Designation : |
Director |
|
Address : |
10231, |
|
Date of Birth/Age : |
13.06.1963 |
|
Date of Appointment : |
20.05.2010 |
|
DIN No.: |
03024470 |
|
|
|
|
Name : |
Mr. Jayant Shyam Sunder Bapna |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
17.07.1958 |
|
Date of Appointment : |
23.05.2011 |
|
DIN No.: |
03511093 |
|
|
|
|
Name : |
Mr. Robert Allan Stewart |
|
Designation : |
Director |
|
Address : |
Heritage Village VIII, 4 Quail Run BLK 47.02 LT 1.02 |
|
Date of Birth/Age : |
03.05.1967 |
|
Date of Appointment : |
23.05.2011 |
|
DIN No.: |
03515778 |
|
|
|
|
Name : |
Mr. Philip Abraham Biju |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
04.11.1969 |
|
Date of Appointment : |
23.05.2011 |
|
DIN No.: |
03515838 |
|
|
|
|
Name : |
Mr. Krishnaprasad Chandrasekara Hassan |
|
Designation : |
Director |
|
Address : |
A 502, Dream Heights, Plot No. 28, Kharghar, Sector – 19, Navi Mumbai – 410210, Maharashtra, India |
|
Date of Birth/Age : |
29.08.1966 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06719389 |
KEY EXECUTIVES
|
Name : |
Mr. Kersi Mistry |
|
Designation : |
Admin Department |
MAJOR SHAREHOLDERS
AS ON 29.05.2015
|
Names of Shareholders |
|
No. of Shares |
|
Watson Laboratories Inc, USA |
|
55002460 |
|
Watson Pharma Inc, Parsippany |
|
1 |
|
|
|
|
|
Total |
|
55002461 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.05.2015
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of pharmaceuticals. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
||||||||||||||||||||||
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Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400 028,
Maharashtra, India |
|
PAN No.: |
AABFL5878L |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Fellow Subsidiary
company : |
|
CAPITAL STRUCTURE
AS ON 29.05.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs. 750.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55002461 |
Equity Shares |
Rs.10/- each |
Rs. 550.025
Million |
|
|
|
|
|
FINANCIAL DAT
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 (15 Months) |
31.12.2013 |
31.12.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
550.025 |
550.025 |
550.025 |
|
(b) Reserves & Surplus |
6240.055 |
5171.215 |
4614.921 |
|
(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) |
6790.080 |
5721.240 |
5164.946 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
312.316 |
243.247 |
258.658 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
93.110 |
61.815 |
25.677 |
|
Total Non-current
Liabilities (3) |
405.426 |
305.062 |
284.335 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1381.417 |
852.634 |
732.988 |
|
(c) Other
current liabilities |
738.043 |
260.276 |
766.065 |
|
(d) Short-term
provisions |
79.191 |
18.374 |
32.448 |
|
Total Current
Liabilities (4) |
2198.651 |
1131.284 |
1531.501 |
|
|
|
|
|
|
TOTAL |
9394.157 |
7157.586 |
6980.782 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3812.656 |
3234.258 |
3268.962 |
|
(ii)
Intangible Assets |
56.664 |
66.312 |
66.440 |
|
(iii)
Capital work-in-progress |
167.479 |
642.426 |
223.350 |
|
(iv)
Intangible assets under development |
2.089 |
0.083 |
19.310 |
|
(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 |
657.680 |
589.373 |
478.578 |
|
(e) Other
Non-current assets |
1.708 |
1.618 |
1.439 |
|
Total Non-Current Assets |
4698.276 |
4534.070 |
4058.079 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
226.795 |
|
(b)
Inventories |
3301.025 |
2121.343 |
2084.216 |
|
(c) Trade
receivables |
350.319 |
322.364 |
394.044 |
|
(d) Cash
and cash equivalents |
376.457 |
113.834 |
107.836 |
|
(e)
Short-term loans and advances |
112.939 |
65.537 |
109.262 |
|
(f) Other
current assets |
555.141 |
0.438 |
0.550 |
|
Total
Current Assets |
4695.881 |
2623.516 |
2922.703 |
|
|
|
|
|
|
TOTAL |
9394.157 |
7157.586 |
6980.782 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 (15 Months) |
31.12.2013 |
31.12.2012 |
|
|
SALES |
|
|
|
|
|
Income |
11346.080 |
7295.821 |
6990.709 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2306.985 |
1273.196 |
1376.525 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
3.343 |
11.996 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2306.985 |
1269.853 |
1364.529 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
611.724 |
409.922 |
360.755 |
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ITEMS |
0.000 |
0.000 |
7.316 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1695.261 |
859.931 |
996.458 |
|
|
|
|
|
|
|
Less |
TAX |
626.421 |
303.637 |
321.205 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1068.840 |
556.294 |
675.253 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3363.224 |
2806.930 |
2131.677 |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4432.064 |
3363.224 |
2806.930 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.43 |
10.11 |
12.28 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 (15 Months) |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operation |
1527.088 |
1388.602 |
951.836 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 (15 Months) |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
9.42 |
7.62 |
9.66 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
20.33 |
17.45 |
19.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.38 |
13.20 |
14.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.15 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14 |
2.32 |
1.91 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
550.025 |
550.025 |
550.025 |
|
Reserves & Surplus |
4614.921 |
5171.215 |
6240.055 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5164.946 |
5721.240 |
6790.080 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2012 |
31.12.2013 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
6990.709 |
7295.821 |
11346.080 |
|
|
|
4.365 |
55.515 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2012 |
31.12.2013 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
6990.709 |
7295.821 |
11346.080 |
|
Profit |
675.253 |
556.294 |
1068.840 |
|
|
9.66% |
7.62% |
9.42% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
Yes |
|
33 |
Market information |
---- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from 201/301, Corporation Enclave, B D Sawant Marg, Chakala, Andheri
(East), Mumbai – 400099, Maharashtra, India to
the present address w.e.f. 06.05.2011.
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 01/07/2015 |
|
|
|
Petitioner: PRINCIPAL COMMISSIONER OF INCOME
Respondent: WATSON PHARMA PRIVATE LIMITED TAX
Petn. Adv .: ARVIND PINTO (I583) Resp.
Adv.:- PARAS S SAVLA, HARSH R SHAH District: MUMBAI |
|
Bench: DIVISION Status: PRE-ADMISSION
Category: TAX APPEALS
Last Date: 08/07/2015 Stage:
Last Coram: REGISTRAR (OS)/PROTHONOTARY AND SR. MASTER |
|
Act: Income Tax Act, 1961 UNDER SECTION: 260A |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10163588 |
23/06/2009 |
250,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A64359128 |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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. 64.96 |
|
UK Pound |
1 |
Rs. 99.73 |
|
Euro |
1 |
Rs. 71.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
72 |
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.