MIRA INFORM REPORT
|
Report No. : |
341984 |
|
Report Date : |
21.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
G AMPHRAY PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th Floor Sambava Chambers, Sir P. M Road Fort, Mumbai – 400001,
Maharashtra |
|
Tel. No.: |
91-22-22663150 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
27.02.1982 |
|
|
|
|
Com. Reg. No.: |
11-026504 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24200MH1982PTC026504 |
|
|
|
|
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 |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical, Organic and Inorganic Chemicals |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 1982. It is engaged into manufacturing
and exporting of organic chemicals. It is an established company having
satisfactory track record. During FY 2014, the company has achieved total revenue of Rs.305.000
Million and net profit of Rs.14.400 Million and its profitability margin stood
at 4.75%. Rating further takes into account on company decent financial risk
profile along with significant improvement in its reserves and capital
structure. This rating strength is partly offset by prevailing uncertain regulatory
environment in the Indian pharma industry and ever increasing competition. Trade relations are fair. Business is active. Payments terms are
reported to be usually correct. The company can be considered normal for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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. Puran Parmar |
|
Designation : |
Chief Accounts Executive |
|
Contact No.: |
91-22-22663150 |
|
Date : |
19.09.2015 |
LOCATIONS
|
Registered Office : |
4th Floor Sambava Chambers, Sir P. M Road Fort, Mumbai – 400001,
Maharashtra, India |
|
Tel. No.: |
91-22-22663150 |
|
Fax No.: |
91-22-40828181 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No.107, MIDC Industrial Area, Ambernath, Maharashtra, India |
DIRECTORS
As on 27.09.2014
|
Name : |
Mr. Grace Ramu Deora |
|
Designation : |
Director |
|
Address : |
25 / 26, Mont Blance Appts,, A. K. Road,, Mumbai, 400036, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1948 |
|
Date of Appointment : |
03.09.2006 |
|
DIN No.: |
00312080 |
|
|
|
|
Name : |
Mr. Rajesh Ramu Deora |
|
Designation : |
Director |
|
Address : |
25 / 26 Floor, Mount Blanc Apartment, A. K. Road,, Mumbai, 400036, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1974 |
|
Date of Appointment : |
21.06.2005 |
|
DIN No.: |
00312316 |
|
|
|
|
Name : |
Mr. Rajiv Ramu Deora |
|
Designation : |
Director |
|
Address : |
25 / 26 Floor, Mount Blanc Apartment, A. K. Road,, Mumbai, 400036, Maharashtra, India |
|
Date of Birth/Age : |
22.11.1972 |
|
Date of Appointment : |
27.12.1990 |
|
DIN No.: |
00312430 |
KEY EXECUTIVES
|
Name : |
Mr. Puran Parmar |
|
Designation : |
Chief Accounts Executive |
|
|
|
|
Name : |
Jagriti Jagetia |
|
Designation : |
Company Secretary |
|
Address : |
8, Charming Apartment, Mini Land, Tank Road, Bhandup (West), Mumbai-400078,
Maharashtra, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ramu Deora |
|
2550 |
|
Rajesh Deora |
|
3398 |
|
Grace Deora |
|
2500 |
|
Rajiv Deora |
|
1650 |
|
Mahavir Prasad Decora |
|
1 |
|
Govind Prasad Decora |
|
1 |
|
Bhindrval Sanganera |
|
100 |
|
Lalit Kumar Bhidia |
|
100 |
|
Lalit Kumar Agarwar |
|
100 |
|
Geeta Devu Bhidia |
|
100 |
|
Kashi Kanodia |
|
100 |
|
Ramakant Bahar |
|
100 |
|
Sundraial Bagaria |
|
150 |
|
Bhagrthi Prasad Nangli |
|
150 |
|
Total |
|
11000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
91.80 |
|
Other top fifty shareholders |
8.20 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical, Organic and Inorganic Chemicals |
|
|
|
|
Products : |
Not Available |
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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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|
|
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Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
M. L. Bhuwania and Company Chartered Accountants |
|
Address : |
F-11, 3rd Floor, Manek Mahal, 90, Veer Nariman Road, Churchgate,
Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-61174949 |
|
Fax No.: |
91-22-61174950 |
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E-Mail : |
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|
Website : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFM1380R |
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|
|
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Memberships : |
-- |
|
|
|
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Collaborators : |
-- |
|
|
|
|
Related Parties : |
·
G Amphray Laboratories ·
Triochem Laboratories Private Limited ·
Triochem Products Limited |
CAPITAL STRUCTURE
As on 27.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
195,000 |
Equity Shares |
Rs.100/- each |
Rs. 19.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,000 |
Equity Shares |
Rs.100/- each |
Rs. 1.100
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 |
1.100 |
1.100 |
1.100 |
|
(b) Reserves & Surplus |
33.889 |
19.402 |
21.527 |
|
(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) |
34.989 |
20.502 |
22.627 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
38.740 |
94.041 |
32.400 |
|
(b) Deferred tax liabilities (Net) |
0.880 |
0.000 |
0.384 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.200 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
39.620 |
94.041 |
32.984 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
46.363 |
0.000 |
0.000 |
|
(b) Trade
payables |
1.278 |
13.572 |
8.154 |
|
(c) Other
current liabilities |
0.802 |
12.849 |
5.132 |
|
(d) Short-term
provisions |
6.500 |
0.080 |
5.786 |
|
Total Current
Liabilities (4) |
54.943 |
26.501 |
19.072 |
|
|
|
|
|
|
TOTAL |
129.552 |
141.044 |
74.683 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
37.318 |
42.113 |
35.347 |
|
(ii)
Intangible Assets |
0.046 |
0.076 |
0.060 |
|
(iii)
Capital work-in-progress |
0.614 |
0.000 |
2.411 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.139 |
0.139 |
0.040 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.837 |
1.797 |
1.309 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
39.954 |
44.125 |
39.167 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
74.171 |
80.582 |
26.225 |
|
(c) Trade
receivables |
9.388 |
7.753 |
2.878 |
|
(d) Cash
and cash equivalents |
4.214 |
1.368 |
4.852 |
|
(e) Short-term
loans and advances |
1.815 |
7.207 |
1.554 |
|
(f) Other
current assets |
0.010 |
0.009 |
0.007 |
|
Total
Current Assets |
89.598 |
96.919 |
35.516 |
|
|
|
|
|
|
TOTAL |
129.552 |
141.044 |
74.683 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
304.633 |
190.147 |
151.808 |
|
|
|
Other Income |
0.416 |
1.314 |
0.003 |
|
|
|
TOTAL (A) |
305.049 |
191.461 |
151.811 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
243.186 |
199.962 |
|
|
|
|
Purchases of Stock-in-Trade |
1.209 |
0.362 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
15.856 |
(33.257) |
|
|
|
|
Employees benefits expense |
4.284 |
3.893 |
|
|
|
|
Other expenses |
7.006 |
11.561 |
|
|
|
|
TOTAL (B) |
271.541 |
182.521 |
114.212 (including
financial expenses0 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
33.508 |
8.940 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
7.478 |
6.637 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
26.030 |
2.303 |
37.599 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
4.879 |
4.777 |
3.809 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
21.151 |
(2.474) |
33.790 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.664 |
(0.349) |
10.293 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
14.487 |
(2.125) |
23.497 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
19.403 |
21.528 |
(1.969) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
33.890 |
19.403 |
21.528 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
182.284 |
204.174 |
51.125 |
|
|
TOTAL IMPORTS |
182.284 |
204.174 |
51.125 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1316.98 |
(193.21) |
2136.06 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.76 |
(1.12) |
15.48 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.00 |
4.70 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.42 |
(1.76) |
46.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60 |
(0.12) |
1.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.43 |
4.59 |
1.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63 |
3.66 |
1.86 |
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 |
1.100 |
1.100 |
1.100 |
|
Reserves & Surplus |
21.527 |
19.402 |
33.889 |
|
Net
worth |
22.627 |
20.502 |
34.989 |
|
|
|
|
|
|
long-term borrowings |
32.400 |
94.041 |
38.740 |
|
Short term borrowings |
0.000 |
0.000 |
46.363 |
|
Total
borrowings |
32.400 |
94.041 |
85.103 |
|
Debt/Equity
ratio |
1.432 |
4.587 |
2.432 |
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 |
151.808 |
190.147 |
304.633 |
|
|
|
25.255 |
60.209 |
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 |
151.808 |
190.147 |
304.633 |
|
Profit/ (Loss) |
23.497 |
(2.125) |
14.487 |
|
|
15.48% |
(1.12%) |
4.76% |
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 |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
No |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and
advances from related parties |
|
|
|
From Directors |
38.740 |
47.040 |
|
From Shareholder |
0.000 |
47.001 |
|
Total |
38.740 |
94.041 |
INDEX
OF CHARGES NO CHARGES EXIST FOR COMPANY
FIXED ASSETS
- Land
- Buildings
- Plant and equipment’s
- Office equipment’s
- Vehicles
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.65.92 |
|
|
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.