MIRA INFORM REPORT
|
Report No. : |
341078 |
|
Report Date : |
18.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
APEX DRUGS AND INTERMEDIATES LIMITED (w.e.f. 04.03.1996) |
|
|
|
|
Formerly Known
As : |
APEX DRUGS AND INTERMEDIATES PRIVATE LIMITED AGANI SYNTHETICS PRIVATE LIMTIED |
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|
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Registered
Office : |
210, 2nd Floor, Ram’s Enclave, Erragadda, Hyderabad –
500018, Telangana |
|
Tel. No.: |
91-40-23706034/ 23717365/ 23717366 |
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
05.12.1989 |
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|
|
|
Com. Reg. No.: |
36-010737 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 110.764 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230TG1989PLC010737 |
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|
|
|
IEC No.: |
0990004732 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCA7175J |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Manufacturer and Exporter of pharmaceutical
ingredients including active pharmaceutical ingredients and drug
intermediates. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1500000 |
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|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company incorporated during the year 1989.
It has moderate track. For the year ended, the company had average operational activity. It has
reported decrease in 2014 its revenue along with continuous loses. The rating is constrained on account of company’s moderate financial
risk profile marked modest networth position and huge borrowings taken by the
company. However, trade relations are fair. Business is active. Payments are
slow but correct. The company can be considered for business dealings with some
caution. |
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 |
ICRA |
|
Rating |
Long Term Rating “BBB” (Suspended) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
March 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating “A3” (Suspended) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
March 2013 |
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 (PARTIAL DETAILS)
|
Name : |
Mr. Suresh |
|
Designation : |
Accountant |
|
Contact No.: |
91-40-23706034 |
|
Date : |
15.09.2015 |
LOCATIONS
|
Registered Office : |
210, 2nd Floor, Ram’s Enclave, Erragadda, Hyderabad –
500018, Telangana, India |
|
Tel. No.: |
91-40-23706034/ 23717365/ 23717366 |
|
Fax No.: |
91-40-23707368 |
|
E-Mail : |
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|
Website : |
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|
|
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|
Factory : |
Survey No.14, Gadda Potharam Industrial Area, Jinnaram Mandal,
District Medak, Andhra Pradesh, India |
|
Tel. No.: |
91-8458-277268/ 277036 |
|
Fax No.: |
91-8458-277263 |
|
Location: |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Ghanshyam Surajbali Kurmi |
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|
Designation : |
Managing Director |
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|
Address : |
201, Shilpa Manor, Next to Savera Function Hall, Yousufguda, Hyderabad
– 500045, Telangana, India |
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|
Date of Birth/Age : |
11.08.1969 |
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Date of Appointment : |
01.06.2011 |
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DIN No.: |
00046169 |
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Other Directorship :
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|
Name : |
Mr. Gangapalli Ravi |
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Designation : |
Whole Time Director |
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Address : |
Lig 531 Ramachandrapuram, Hyderabad - 500032, Telangana, India |
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Date of Birth/Age : |
13.05.1963 |
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|
Date of Appointment : |
05.02.2015 |
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DIN No.: |
03010397 |
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Other Directorship :
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|
Name : |
Mr. Sandeep Kumar Verma |
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Designation : |
Additional Director |
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|
Address : |
210, Rams Enclave, Erragadda, Hyderabad-500018, Andhra Pradesh,
India |
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|
Date of Birth/Age : |
12.08.1987 |
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|
Date of Appointment : |
01.03.2010 |
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DIN No.: |
02808834 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Suresh |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Ghanshyam S. Kurmi |
11075211 |
|
Maghan Financial Services Private Limited, India |
200 |
|
Kumkum Financial Services Private Limited, India |
200 |
|
K. Sudhakar Reddy |
200 |
|
G Shekhar Reddy |
200 |
|
Ashok Vsudevan |
200 |
|
Gaurav Singh |
200 |
|
Total |
11076411 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies Corporate
|
|
|
Directors or relatives of Directors |
0.0036 |
|
|
99.9964 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of pharmaceutical
ingredients including active pharmaceutical ingredients and drug
intermediates. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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||||
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Terms : |
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||||
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Selling : |
L/C and Cheque |
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|
Purchasing : |
L/C and Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Retailers, End Users
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Rathi and Malani Chartered Accountants |
|
Address : |
317, 3rd Floor, Swapnalok, S. D Road, Secunderabad –
500003, Telangana, India |
|
Tel. No.: |
91-40-27816017/ 32009337 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACBPR3959G |
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|
|
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11076411 |
Equity Shares |
Rs.10/- each |
Rs. 110.764
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 |
110.764 |
110.764 |
110.764 |
|
(b) Reserves & Surplus |
405.282 |
410.208 |
417.981 |
|
(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) |
516.046 |
520.972 |
528.745 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
561.590 |
567.262 |
495.502 |
|
(b) Deferred tax liabilities (Net) |
82.454 |
77.179 |
68.386 |
|
(c) Other long term
liabilities |
650.000 |
650.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1294.044 |
1294.441 |
563.888 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
887.988 |
828.375 |
540.817 |
|
(b) Trade
payables |
116.449 |
109.560 |
115.926 |
|
(c) Other
current liabilities |
29.073 |
28.486 |
28.843 |
|
(d) Short-term
provisions |
44.419 |
34.685 |
30.908 |
|
Total Current
Liabilities (4) |
1077.929 |
1001.106 |
716.494 |
|
|
|
|
|
|
TOTAL |
2888.019 |
2816.519 |
1809.127 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
623.235 |
663.401 |
601.677 |
|
(ii)
Intangible Assets |
15.000 |
15.000 |
15.000 |
|
(iii)
Capital work-in-progress |
46.186 |
45.000 |
80.626 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.380 |
0.380 |
0.380 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
680.000 |
680.000 |
0.000 |
|
Total Non-Current
Assets |
684.801 |
1403.781 |
697.683 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
502.288 |
391.957 |
310.716 |
|
(c) Trade
receivables |
806.474 |
765.110 |
495.885 |
|
(d) Cash
and cash equivalents |
(5.491) |
32.217 |
67.269 |
|
(e)
Short-term loans and advances |
192.800 |
197.282 |
178.338 |
|
(f) Other
current assets |
27.147 |
26.172 |
59.236 |
|
Total Current
Assets |
1523.218 |
1412.738 |
1111.444 |
|
|
|
|
|
|
TOTAL |
2888.019 |
2816.519 |
1809.127 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
908.530 |
2059.328 |
1826.236 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
TOTAL |
908.530 |
2059.328 |
1826.236 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
749.464 |
1719.649 |
1309.590 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(9.713) |
(14.684) |
44.285 |
|
|
Employees benefits
expense |
49.181 |
60.785 |
75.733 |
|
|
Other expenses |
31.517 |
85.883 |
121.586 |
|
|
TOTAL |
820.449 |
1851.633 |
1551.194 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
88.081 |
207.695 |
275.042 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
47.817 |
170.388 |
118.010 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
40.264 |
37.307 |
157.032 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
39.913 |
36.289 |
31.332 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
0.351 |
1.018 |
125.700 |
|
|
|
|
|
|
|
Less |
TAX |
5.276 |
8.791 |
40.837 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(4.925) |
(7.773) |
84.863 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
345.125 |
352.898 |
271.866 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
0.000 |
0.000 |
3.831 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
340.200 |
345.125 |
352.898 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
N.A |
284.819 |
704.341 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(0.44) |
(0.70) |
8.18 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
28.133 |
28.282 |
28.495 |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
N.A |
N.A |
N.A |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(0.54) |
(0.38) |
4.65 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.69 |
10.09 |
15.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.01 |
0.04 |
7.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.86 |
2.73 |
2.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.41 |
1.55 |
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 |
110.764 |
110.764 |
110.764 |
|
Reserves & Surplus |
417.981 |
410.208 |
405.282 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
528.745 |
520.972 |
516.046 |
|
|
|
|
|
|
long-term borrowings |
495.502 |
567.262 |
561.590 |
|
Short term borrowings |
540.817 |
828.375 |
887.988 |
|
Current maturities of
long-term debts |
28.495 |
28.282 |
28.133 |
|
Total
borrowings |
1064.814 |
1423.919 |
1477.711 |
|
Debt/Equity
ratio |
2.014 |
2.733 |
2.864 |
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 |
1826.236 |
2059.328 |
908.530 |
|
|
|
12.764 |
(55.882) |
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 |
1826.236 |
2059.328 |
908.530 |
|
Profit |
84.863 |
(7.773) |
(4.925) |
|
|
4.65% |
(0.38)% |
(0.54)% |
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 |
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 |
MANAGEMENT DISCUSSION AND ANALYSIS:
Incorporated in 1989, Apex Drugs and Intermediates (Apex) having its Registered Office at Hyderabad, is a ISO 9001:2008 certified pharmaceutical company and growing market leader in the bulk drug industry. The goal of Apex is to establish a leadership position in global pharmaceutical industry and in particular Bulk drugs and API industry and deliver international quality product, harnessing the latest technologies at a competitive price with excellent logistic support.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Term Loan from Bank |
550.000 |
550.000 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
Loan Repayable on Demand |
886.817 |
0.000 |
|
|
|
|
|
Total |
1436.817 |
550.000 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10254676 |
03/09/2013 * |
160,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL
FINANCE BRANCH, 6-3-850/3,, SRINIVASA |
B84878560 |
|
2 |
10124609 |
12/09/2008 |
238,500,000.00 |
BANK OF INDIA |
HYDERABAD
CORPORATE BANKING BRANCH, 10-1-1199/2, |
A47598933 |
|
3 |
90262254 |
02/04/2013 * |
665,400,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, MID CORPORATE GROUP, ASHOK MYH |
B73997595 |
|
4 |
90118429 |
16/07/1992 |
4,000,000.00 |
STATE BANK OF
INDIA |
MAIN BRANCH,
HYDERABAD, TELANGANA, INDIA |
- |
|
5 |
90118343 |
14/11/1990 |
780,000.00 |
STATE BANK OF
INDIA |
MAIN BRANCH,
SECUNDERABAD, TELANGANA, INDIA |
- |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Other plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.43 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.75.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.