MIRA INFORM REPORT
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Report No. : |
342973 |
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Report Date : |
26.09.2015 |
IDENTIFICATION DETAILS
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Name : |
LIFECELL INTERNATIONAL PRIVATE LIMITED (w.e.f. 06.03.2008) |
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Formerly known
as : |
ASIA CRYO-CELL PRIVATE LIMITED |
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Registered
Office : |
No.26,Vandalur-Kelambakkam Main Road, Keelakottaiyur Village,
Kancheepuram Dt., Chennai – 600048, Tamilnadu |
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Tel. No.: |
91-44-47445353 |
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Country : |
India |
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Financials (as on)
: |
31.03.2014 |
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Date of
Incorporation : |
28.06.2004 |
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Com. Reg. No.: |
18-053577 |
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Capital
Investment / Paid-up Capital : |
Rs.164.751 Million |
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CIN No.: [Company Identification
No.] |
U85196TN2004PTC053577 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEA09100A |
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PAN No.: [Permanent Account No.] |
AAECA7997B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of providing stem cell bank
and stem cells solutions. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 140000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2004 engaged in the business of providing stem cell bank and stem cells solutions. Its services include umbilical cord stem cell banking, umbilical cord tissue stem cell blood, and menstrual blood stem cell banking and stem cell therapy solutions. The firm also engaged in the research and development of stem cell. The Company possesses moderate operational performance and reported losses from its operations, which accumulated over a year. Rating remain constrained on account of company’s deteriorating financial base marked by its moderate net worth position along with below average debt protection metrics and liquidity profile of the company. Rating weakness partially offset by strong technological collaboration with Cryo-Cell International backed by adequate funding support from Helion Venture partners. Trade relations are reported as fair. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealing 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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
Management Non Co-operative (91-44-47445353)
LOCATIONS
|
Registered Office : |
No.26,Vandalur-Kelambakkam Main Road, Keelakottaiyur Village,
Kancheepuram Dt., Chennai – 600048, Tamilnadu, India |
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Tel. No.: |
91-44-47445353 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
16/9, Vijayaraghava Lane, Off Vijayaraghava Road, T Nagar, Chennai – 600017,
Tamilnadu, India |
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Tel. No.: |
91-44-42935353 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Abhaya Mayur |
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Designation : |
Managing Director |
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Address : |
No.27, Mylai Ranganathan Street, T. Nagar, Chennai - 600017, Tamilnadu, India |
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Date of Appointment : |
27.05.2008 |
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DIN No.: |
02234552 |
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Name : |
Mr. Ramamurthy Thyagarajan |
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Designation : |
Director |
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Address : |
No.12, Besant Road, Royapettah, Chennai - 600014, Tamilnadu, India |
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Date of Appointment : |
08.07.2004 |
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DIN No.: |
00185036 |
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Name : |
Mr. Shankarlal Abhaya Kumar |
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Designation : |
Whole-time Director |
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Address : |
27, Mylai Ranganathan Street, T Nagar, Chennai - 600017, Tamilnadu, India |
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Date of Appointment : |
28.06.2004 |
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DIN No.: |
00729827 |
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Name : |
Mr. Kanwaljit Singh |
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Designation : |
Additional Director |
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Address : |
SY-2, Sukhmani, Ramagondanahalli Po, Palm Meadows Lane, Bangalore -
560066, Karnataka, India |
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Date of Appointment : |
01.05.2015 |
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DIN No.: |
01388140 |
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Name : |
Mr. Gautam Sharma |
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Designation : |
Director |
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Address : |
H - 401, Central Park,, Golf Course Road, Sector - 42, Gurgaon -
122002, Haryana, India |
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Date of Appointment : |
30.04.2014 |
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DIN No.: |
02348562 |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh D |
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Designation : |
Secretary |
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Address : |
New No.5, Akbarabad II Street, Flat No.9, Ashirvad Flats, Kodambakkam,
Chennai - 600024, Tamilnadu, India |
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Date of Appointment : |
10.12.2012 |
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PAN No.: |
ATSPM4100E |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
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Bodies corporate |
24.97 |
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Directors or relatives of Directors |
45.92 |
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Other top fifty shareholders |
29.11 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of providing stem cell bank
and stem cells solutions. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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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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Auditors : |
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Name : |
B S R and Associates Chartered Accountants |
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Address : |
KPMG House,No.10, Mahatma Gandhi Road, Nungambakkam, Chennai – 600034, Tamilnadu, India |
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PAN No.: |
AAIFB7355D |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Subsidiary company : |
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Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and their
relatives : |
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Other Related Party : |
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CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Million |
|
4000000 |
Preference Shares |
Rs.10/- each |
Rs.40.000 Million |
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Total |
|
Rs.190.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
13697375 |
Equity Shares |
Rs.10/- each |
Rs.136.974 Million |
|
2777700 |
Preference Shares |
Rs.10/- each |
Rs.27.777 Million |
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Total |
|
Rs.164.751
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 |
|
|
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|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
164.751 |
164.751 |
141.580 |
|
(b) Reserves & Surplus |
(117.110) |
76.050 |
88.830 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
47.641 |
240.801 |
230.410 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
6.410 |
5.610 |
4.260 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
3.410 |
|
(c) Other long term
liabilities |
1357.870 |
1013.090 |
591.970 |
|
(d) long-term
provisions |
5.940 |
5.670 |
16.080 |
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Total Non-current
Liabilities (3) |
1370.220 |
1024.370 |
615.720 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
52.820 |
55.000 |
19.680 |
|
(b) Trade
payables |
200.570 |
111.750 |
91.720 |
|
(c) Other
current liabilities |
338.029 |
212.739 |
147.470 |
|
(d) Short-term
provisions |
5.590 |
1.540 |
4.190 |
|
Total Current
Liabilities (4) |
597.009 |
381.029 |
263.060 |
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TOTAL |
2014.870 |
1646.200 |
1109.190 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i) Tangible
assets |
496.660 |
379.350 |
283.250 |
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(ii)
Intangible Assets |
71.530 |
86.960 |
28.430 |
|
(iii)
Capital work-in-progress |
16.640 |
54.070 |
4.840 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
13.930 |
13.930 |
8.750 |
|
(c) Deferred tax assets (net) |
195.230 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
140.690 |
166.780 |
195.190 |
|
(e) Other
Non-current assets |
10.500 |
41.780 |
80.380 |
|
Total Non-Current
Assets |
945.180 |
742.870 |
600.840 |
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(2)
Current assets |
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(a)
Current investments |
479.770 |
257.260 |
15.560 |
|
(b)
Inventories |
86.940 |
57.390 |
72.280 |
|
(c) Trade
receivables |
138.890 |
272.730 |
240.280 |
|
(d) Cash
and cash equivalents |
228.660 |
146.720 |
89.580 |
|
(e)
Short-term loans and advances |
129.080 |
152.920 |
83.070 |
|
(f) Other
current assets |
6.350 |
16.310 |
7.580 |
|
Total
Current Assets |
1069.690 |
903.330 |
508.350 |
|
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TOTAL |
2014.870 |
1646.200 |
1109.190 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
TOTAL INCOME |
NA |
799.710 |
807.880 |
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TOTAL EXPENSES |
NA |
863.340 |
660.450 |
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ROYALTIES |
NA |
36.570 |
38.680 |
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FINANCIAL
EXPENSES |
NA |
1.200 |
0.520 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION, AMORTISATION & EXCEPTIONAL ITEM |
NA |
(101.400) |
108.230 |
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DEPRECIATION/
AMORTISATION |
NA |
51.040 |
39.100 |
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EXCEPTIONAL ITEM
W/OFF |
NA |
28.730 |
0.000 |
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PROFIT/(LOSS)
BEFORE TAX |
387.000 |
(180.440) |
69.130 |
|
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TAX |
580.160 |
3.410 |
3.960 |
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PROFIT/(LOSS)
AFTER TAX |
(193.160) |
(177.030) |
65.170 |
|
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Earnings /
(Loss) Per Share (Rs.) |
(11.72) |
-- |
-- |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
7.880 |
6.370 |
3.200 |
|
Cash generated from operations |
33.289 |
25.357 |
NA |
|
Net cash flow from (used in) operations |
341.900 |
270.260 |
20.933 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
21.63 |
(11.43) |
6.31 |
|
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Return on Investment (ROI) (PBT/Networth) |
|
8.12 |
(0.75) |
0.30 |
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Debt Equity Ratio (Total Debt /Networth) |
|
1.41 |
0.28 |
0.12 |
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Current Ratio (Current Asset/Current Liability) |
|
1.79 |
2.37 |
1.93 |
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 |
141.580 |
164.751 |
164.751 |
|
Reserves & Surplus |
88.830 |
76.050 |
(117.110) |
|
Net
worth |
230.410 |
240.801 |
47.641 |
|
|
|
|
|
|
long-term borrowings |
4.260 |
5.610 |
6.410 |
|
Short term borrowings |
19.680 |
55.000 |
52.820 |
|
Current Maturities of Long term debt |
3.200 |
6.370 |
7.880 |
|
Total
borrowings |
27.140 |
66.980 |
67.110 |
|
Debt/Equity
ratio |
0.118 |
0.278 |
1.409 |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 two 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 |
PERFORMANCE OVERVIEW
During the
financial year ended 31 March 2014, the operational revenue of the Company has
grown by 17.6%. The loss for the year was chiefly due to lowering of prices to
make the flagship service of cord blood stem cell banking affordable and
essential marketing initiatives to develop the category. These steps are part
of the Company's strategic growth plans.
The Company's
operating cash flow grew year on year by 31.3% due to increase in the number of
cord blood banking clients. The growth of free cash flow resulted in generation
of additional investment income.
MANAGEMENT
DISCUSSION AND ANALYSIS
This is the year
of several milestones for LifeCell. Stepping into the 10th year of operations,
the Company has been chosen as the preferred stem cell bank by over 100,000
parents across the nation.
With over 27
million births every year, India is the largest birthing country in the world.
When compared to number of births, the size of stem cell banking population in
India is below global benchmarks. One of the key reasons for this low
penetration may be ascribed to the lack of awareness, as the idea of storing
umbilical cord stem cells for possible future therapy remain was not widely
known among the potential beneficiaries or prescribed by the medical
profession.
On the other hand,
a large section of consumers who understand and appreciate the benefits of
umbilical cord stem cell banking could not opt for this service largely due to
the fact that this was not affordable until a year back. A onetime fee for
processing umbilical cord blood and the tissue unit and storing them for 21
years was priced at about Rs.0.075 Million
THE BUSINESS TRANSFORMATION
Being the pioneer
of stem cell banking in India, LifeCell decided to extend its services across
socio economic segments and geographies. As part of its business transformation
strategy, the Company drastically reduced prices of its services from October
2013. The entry threshold has been reduced to Rs 19,990/- towards processing
the umblical cord blood and tissue units. Clients now can pay a storage fee of
Rs 3,500/- annually for the next 21 years. The Company also offers an
all-inclusive one time processing and 21 years storage package for Rs 44,990/-.
This has triggered wide interest among parents and an improvement in cord blood
banking penetration across the country.
While a pricing
reduction spurred volume growth, it was equally important for the Company to
enhance awareness levels and communicating the pricing and service
opportunities to the target customers. Your Company, consolidated its
leadership within the Indian market and category building role by investing in
a comprehensive media campaign in print and broadcast channels to communicate
the newage medical concepts into a simple message. The TV Commercials presented
a culturally rich theme of gifting "godh-bharai' to bless the mother and
the to-be-born child with a lifetime health, who by herself, is a gift for her
expectant parent.
THE BIG BRAND THEORY
Having in a way
democratised umbilical cord stem cell banking by making it accessible to all,
to get across the message to millions of mothers-to-be, the Company decided to
add the global celebrity, Ms. Aishwarya Rai Bachchan that every woman in India
looks up to as its brand patron. Ms. Aishwarya herself is a client of LifeCell
and endorses the natural choice of preserving umibilical cord stem cells with
LifeCell.
LifeCell has also
invested in other key print media and radio channel marketing, but places
special emphasis on the new age media, the digital media with the relaunch of a
vibrant website and running several online campaigns.
2013-14 was the
year of sales productivity optimisation as the Company has revamped its
"Contact Center", introduced smart mobile CRM application and created
a telesales function. The Company has harnessed the rampant growth of digital
media as its business contribution has arose from 2% to 12% in the last one
year. LifeCell forsees a significant jump in this ratio in the months to come.
Besides connecting
through mass marketing campaigns, LifeCell has expanded its collection network
significantly and stepped up its social marketing presence chiefly through
Facebook. Our presence in various client touchpoints allows a larger section
population to access our services as the awareness spreads strongly through
various marketing initiatives of the Company.
The Company
continues to extend its geographical presence across over 120 town and cities
deploying nearly 150 collection centers. Besides India, customer service
centers are operating in Dubai, Bahrain, Kuwait and Nepal LifeCell continues to
be the most recommended* stem cell bank in India with more than 5,000
gynaecologists across 1,000 hospitals choosing us for collecting umblical cord
blood samples to be processed and preserved at our world class laboratories.
* As per Nielsen 2012 survey covering over 300 gynaecologists across 8
cities.
THE DIVISIONAL PERFORMANCE
The non-stem-cell
banking divisions "BABY SHIELD" offering new born screening services
and "CELL THERAPY" kits division that sells imported medical kits for
therapeutic use have performed resonably over the previous year. The
consolidated revenue from these divisions stood at Rs 33 m (Previous year: Rs
21 m) for the year ended 31 March 2014.
The Newborn
Screening Test screens the baby for over 50 conditions and is a mandatory test
in over 60 countries including USA, Australia and New Zealand. These countries
have an Infant Mortality Rate of less than 10 per 1000 births. However, in
India, only less than 1% of infants are screened and every year over 1.6
milliion babies are born with birth defects. The mortality rate in India is at
an alarming 44 per thousand live births. There is a clear need for developing
these services for improving the health service in India
PROFITABILITY
Chiefly driven by
the aggressive growth plan in the form of lowering of prices and increasing
marketing spends, without compromising on service delivery, LifeCell has incurred
a loss before tax of Rs 387 million (Previous year: Loss Rs 180 million) for
the year ended 31 March 2014. The Company has developed operational plans to
increase volumes and expects to restore operating profits within the medium
term.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10566703 |
25/02/2015 |
210,000,000.00 |
Kotak Mahindra Bank Limited |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E),, Mumbai, Maharashtra - 400051, India |
C52297090 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
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.66.10 |
|
|
1 |
Rs.100.89 |
|
Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
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 |
|
32 |
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.