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MIRA INFORM REPORT
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Report No. : |
507032 |
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Report Date : |
30.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SAI LIFE SCIENCES LIMITED (w.e.f.28.05.2012) |
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Formerly Known
As : |
SAI ADVANTIUM PHARMA LIMITED (w.e.f.30.08.2006) SAI LIFE SCIENCES LIMITED (w.e.f.16.12.2003) SAI DRU SYN LABORATORIES LIMITED |
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Registered
Office : |
Office # L4-01 and 02, SLN Terminus, Survey No. 133, |
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Tel. No.: |
91-40-33156000 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
25.01.1999 |
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Com. Reg. No.: |
36-030970 |
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Capital
Investment / Paid-up Capital : |
INR 139.797 Million |
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CIN No.: [Company Identification
No.] |
U24110TG1999PLC030970 |
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GST No.: |
Not Divulged |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECS6143F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of Contract Manufacturing of different types of Intermediates and Active Pharmaceuticals Ingredients and Providing Research and Development Services and Custom Synthesis to the Global Pharmaceutical and Biotechnology Industry. [Registered Activity] |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 9137700 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
was incorporated in the year 1999 and it is an integrated CRAMS (Contract Research
and Manufacturing Services) provider and provides drug discovery, development
and manufacturing services to pharmaceutical and biotechnology companies with
manufacturing and research and development facilities. As per
financials of March 2017, the company has registered a growth of 3.59% in its
revenue as compared to its previous year’s revenue and has reported good
profit margin of 10.79% under review. Rating
takes into consideration the company’s established track record of business
operations marked by healthy financial risk profile along with comfortable
debt coverage indicators and good liquidity position. Rating
also takes into account the extensive experience of promoters in the life
science industry and presence in the entire CRAMS value chain. Further,
the company has reported a good earnings per share of INR 33.98 against its
face value of INR 10. However,
rating strength is partially offset by exposure to foreign exchange
fluctuation risk and regulatory risks associated with the pharmaceutical
industry. Payments
are reported to be regular. In view
of aforesaid, the company can be considered good 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Rating = A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
13.03.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Rating = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
13.03.2018 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 30.04.2018
IBBI (Insolvency and Bankruptcy Board of
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-40-33156000/ 20-30125000]
[91-40-66777555 is continuously ringing]
LOCATIONS
|
Registered/ Corporate Office : |
Office # L4-01 and 02, SLN Terminus, Survey No. 133, Gachibowli Miyapur
Road, Gachibowli, Hyderabad – 500032, Telangana, India |
|
Tel. No.: |
91-40-33156000 |
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Mobile No: |
91-8008555365 [Mr. Ravi Venkataramanan] |
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Fax No.: |
91-40-33156199 |
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E-Mail : |
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Website : |
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Manufacturing
Facilities : |
Located at: · Telangana Karnataka |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Krishnamraju Kanumuri |
|
Designation : |
Managing Director and Chief Executive Officer (KMP) |
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Address : |
8-2-120/112/A/4, Jubilee Hills, Hyderabad-500033, |
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Date of Birth/Age : |
10.02.1971 |
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Date of Appointment : |
01.10.2010 |
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PAN No.: |
AEWPK2898A |
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DIN No.: |
00064614 |
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|
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Name : |
Dr. Ranga Raju Kanumuri |
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Designation : |
Whole Time Director |
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Address : |
8-2-120//112/A/4, Jubilee Hills, Road No:9, Rangareddy,
Hyderabad-500002, |
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Date of Birth/Age : |
05.01.1951 |
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Date of Appointment : |
25.01.1999 |
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PAN No.: |
ACRPK6274F |
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DIN No.: |
00043186 |
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Name : |
Mr. Ramasundar Satyamurti |
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Designation : |
Director |
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Address : |
D- 502, |
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Date of Appointment : |
04.11.2016 |
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PAN No.: |
AAAPR0741H |
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DIN No.: |
00114258 |
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|
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Name : |
Mr. Akhil Awasthi |
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Designation : |
Director |
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Address : |
T-19B, |
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Date of Birth/Age : |
01.02.1966 |
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Date of Appointment : |
MBA & Engineer |
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Date of Appointment : |
21.03.2016 |
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DIN No.: |
00148350 |
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Name : |
Dr. Penmasta Raju |
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Designation : |
Director |
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Address : |
733, Wilmette Avenue |
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Date of Birth/Age : |
22.09.1952 |
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Date of Appointment : |
PhD in Organic Chemistry |
|
Date of Appointment : |
08.03.1999 |
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PAN No.: |
BNOPP5929D |
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DIN No.: |
00897301 |
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Name : |
Tatta Raja Gopal Srirama |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
17.05.1951 |
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Date of Appointment : |
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Date of Appointment : |
10.01.2007 |
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PAN No.: |
AVZPT8813A |
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DIN No.: |
00988348 |
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|
Name : |
Mr. Sanjay Chaudhary |
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Designation : |
Director |
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Address : |
606,Sarvapriya Apartments, Sarvapriya, Vihar, New
Delhi-110016, |
|
Date of Birth/Age : |
23.12.1967 |
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Date of Appointment : |
MBA & Engineer |
|
Date of Appointment : |
18.01.2016 |
|
DIN No.: |
01806269 |
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|
|
|
Name : |
Visalakshi Chandramouli |
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Designation : |
Director |
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Address : |
52, Marble Arch 52/5 Tps III, |
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Date of Birth/Age : |
10.02.1969 |
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Date of Appointment : |
Chemical Technologist & MBA (Finance) |
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Date of Appointment : |
18.01.2016 |
|
DIN No.: |
03594109 |
KEY EXECUTIVES
|
Name : |
Ms. Runa Karan |
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Designation : |
Company Secretary |
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Address : |
46, Migh, |
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Date of Birth/Age : |
12.03.1979 |
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Date of Appointment : |
03.10.2008 |
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PAN No.: |
AKLPK3369B |
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Name : |
Chitoor Lakshminarayanan Sivaramakrishnan |
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Designation : |
Chief Finance Officer |
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Address : |
Flat No-811, Prithvi Block, Myhome Navadweepa Madhapur,
Hyderabad-500081, |
|
Date of Appointment : |
14.05.2014 |
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PAN No.: |
ACDPS9213J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.08.2017
NOTE: SHAREHOLDING AND ALLOTTEES DETAILS FILE ATTACHED
AS ON 31.08.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
25.76 |
|
Promoters – Individual/ Hindu Undivided Family – Non-Resident Indian |
6.93 |
|
Promoters – Body Corporate |
7.66 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
8.09 |
|
Public/Other than promoters – Individual/ Hindu Undivided Family – Non-Resident Indian |
4.60 |
|
Public/Other than promoters – Foreign Institutional Investors |
28.42 |
|
Public/Other than promoters - Body Corporate |
18.54 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Contract Manufacturing of different types of Intermediates and Active Pharmaceuticals Ingredients and Providing Research and Development Services and Custom Synthesis to the Global Pharmaceutical and Biotechnology Industry. [Registered Activity] |
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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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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
Not Divulged |
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Bankers : |
· ICICI Bank Limited ·
State Bank of Overseas Branch, Mid Corporate · Yes Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
B S R and Associates LLP Chartered Accountants |
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Address : |
8-2-618/2,
Reliance Humsafar, 4th Floor, Road No. 11, Banjara Hills, |
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PAN No.: |
AADFB6889R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company : |
Sai Life Sciences Inc, |
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|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives |
·
Sai Quest SYN Private Limited, Chemrich Fine Chemicals
Private LIMITED, |
CAPITAL STRUCTURE
AFTER 31.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21400000 |
Equity Shares |
INR 10/- each |
INR 214.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14175310 |
Equity Shares |
INR 10/- each |
INR 141.753
Million |
|
|
|
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|
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21400000 |
Equity Shares |
INR 10/- each |
INR 214.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13979710 |
Equity Shares |
INR 10/- each |
INR 139.797
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
139.797 |
139.797 |
132.742 |
|
(b) Reserves and Surplus |
3058.427 |
2583.353 |
2050.399 |
|
(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) |
3198.224 |
2723.150 |
2183.141 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
705.999 |
392.394 |
509.296 |
|
(b) Deferred tax liabilities (Net) |
267.022 |
226.972 |
230.244 |
|
(c) Other long-term
liabilities |
99.963 |
9.000 |
0.000 |
|
(d) long-term
provisions |
65.863 |
59.693 |
32.385 |
|
Total Non-current
Liabilities (3) |
1138.847 |
688.059 |
771.925 |
|
|
|
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|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1189.014 |
959.311 |
800.047 |
|
(b) Trade
payables |
483.505 |
620.208 |
488.324 |
|
(c) Other
current liabilities |
680.152 |
530.229 |
396.656 |
|
(d) Short-term
provisions |
63.698 |
57.007 |
38.146 |
|
Total Current
Liabilities (4) |
2416.369 |
2166.755 |
1723.173 |
|
|
|
|
|
|
TOTAL |
6753.440 |
5577.964 |
4678.239 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2691.559 |
2022.773 |
2130.983 |
|
(ii)
Intangible Assets |
29.385 |
3.339 |
1.587 |
|
(iii) Tangible assets
capital work-in-progress |
91.641 |
80.877 |
20.623 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.384 |
0.384 |
0.384 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
324.800 |
390.991 |
418.677 |
|
(e) Other
Non-current assets |
26.000 |
55.091 |
31.856 |
|
Total Non-Current
Assets |
3163.769 |
2553.455 |
2604.110 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
480.185 |
365.413 |
380.909 |
|
(c) Trade
receivables |
2309.828 |
1785.793 |
1219.860 |
|
(d) Cash and
bank balances |
134.040 |
182.006 |
20.953 |
|
(e)
Short-term loans and advances |
557.049 |
368.797 |
287.191 |
|
(f) Other
current assets |
108.569 |
322.500 |
165.216 |
|
Total
Current Assets |
3589.671 |
3024.509 |
2074.129 |
|
|
|
|
|
|
TOTAL |
6753.440 |
5577.964 |
4678.239 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4403.999 |
4251.284 |
3401.680 |
|
|
Other Income |
199.837 |
35.361 |
3.035 |
|
|
TOTAL |
4603.836 |
4286.645 |
3404.715 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1093.300 |
1147.809 |
934.384 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
6.348 |
36.077 |
(69.369) |
|
|
Employee benefit expense |
1413.404 |
1216.748 |
993.327 |
|
|
CSR expenditure |
7.424 |
5.040 |
0.753 |
|
|
Other expenses |
1152.988 |
1075.760 |
920.512 |
|
|
TOTAL |
3673.464 |
3481.434 |
2779.607 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
930.372 |
805.211 |
625.108 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
90.982 |
112.220 |
129.291 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
839.390 |
692.991 |
495.817 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
208.102 |
202.553 |
194.811 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
631.288 |
490.438 |
301.006 |
|
|
|
|
|
|
|
Less |
TAX |
156.214 |
146.538 |
71.098 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
475.074 |
343.900 |
229.908 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
4030.851 |
3928.235 |
3110.563 |
|
|
TOTAL EARNINGS |
4030.851 |
3928.235 |
3110.563 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
408.223 |
496.474 |
303.868 |
|
|
Components and spare
parts |
21.187 |
15.187 |
17.018 |
|
|
Capital Goods |
157.569 |
63.195 |
41.929 |
|
|
TOTAL IMPORTS |
586.979 |
574.856 |
362.815 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
33.98 |
25.74 |
17.36 |
|
|
Diluted |
33.03 |
25.05 |
16.99 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
166.980 |
178.969 |
139.077 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
357.326 |
388.628 |
367.107 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
162.086 |
292.235 |
312.396 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
191.44 |
153.32 |
130.89 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.91 |
2.38 |
2.79 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
161.42 |
197.22 |
190.75 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.94 |
2.20 |
1.64 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.33 |
0.38 |
0.29 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.49 |
0.49 |
0.51 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.64 |
0.56 |
0.66 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.76 |
0.80 |
0.79 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.88 |
0.77 |
0.99 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
10.23 |
7.18 |
4.83 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
10.79 |
8.09 |
6.76 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.03 |
6.17 |
4.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
14.85 |
12.63 |
10.53 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.49 |
1.40 |
1.20 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.29 |
1.23 |
0.98 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.47 |
0.49 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
14.75 |
10.95 |
10.91 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.49 |
1.40 |
1.20 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
132.742 |
139.797 |
139.797 |
|
Reserves & Surplus |
2050.399 |
2583.353 |
3058.427 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2183.141 |
2723.150 |
3198.224 |
|
|
|
|
|
|
Long-term borrowings |
509.296 |
392.394 |
705.999 |
|
Short term borrowings |
800.047 |
959.311 |
1189.014 |
|
Current maturities of
long-term debts |
139.077 |
178.969 |
166.980 |
|
Total
borrowings |
1448.420 |
1530.674 |
2061.993 |
|
Debt/Equity
ratio |
0.663 |
0.562 |
0.645 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
3401.680 |
4251.284 |
4403.999 |
|
|
|
24.976 |
3.592 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
3401.680 |
4251.284 |
4403.999 |
|
Profit/ (Loss) |
229.908 |
343.900 |
475.074 |
|
|
6.76
% |
8.09
% |
10.79
% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
139.797 |
139.797 |
|
(b) Reserves and Surplus |
|
3082.543 |
2602.558 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
3222.340 |
2742.355 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
705.999 |
392.393 |
|
(b) Deferred tax liabilities (Net) |
|
267.022 |
226.973 |
|
(c) Other long-term
liabilities |
|
99.963 |
9.000 |
|
(d) long-term
provisions |
|
65.863 |
59.693 |
|
Total Non-current
Liabilities (3) |
|
1138.847 |
688.059 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
1189.014 |
959.311 |
|
(b) Trade
payables |
|
467.221 |
612.744 |
|
(c) Other
current liabilities |
|
683.429 |
531.746 |
|
(d) Short-term
provisions |
|
63.698 |
57.007 |
|
Total Current
Liabilities (4) |
|
2403.362 |
2160.808 |
|
|
|
|
|
|
TOTAL |
|
6764.549 |
5591.222 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
2691.558 |
2022.870 |
|
(ii)
Intangible Assets |
|
29.385 |
3.339 |
|
(iii) Tangible assets
capital work-in-progress |
|
91.641 |
80.877 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.159 |
0.159 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
324.800 |
390.991 |
|
(e) Other
Non-current assets |
|
26.000 |
55.091 |
|
Total Non-Current
Assets |
|
3163.543 |
2553.327 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
480.185 |
365.413 |
|
(c) Trade
receivables |
|
2309.829 |
1785.793 |
|
(d) Cash and
bank balances |
|
145.303 |
195.315 |
|
(e)
Short-term loans and advances |
|
557.120 |
368.874 |
|
(f) Other
current assets |
|
108.569 |
322.500 |
|
Total
Current Assets |
|
3601.006 |
3037.895 |
|
|
|
|
|
|
TOTAL |
|
6764.549 |
5591.222 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
4403.999 |
4251.284 |
|
|
Other Income |
|
199.837 |
35.361 |
|
|
TOTAL |
|
4603.836 |
4286.645 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1093.300 |
1147.809 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
6.348 |
36.077 |
|
|
Employee benefit expense |
|
1516.527 |
1315.536 |
|
|
Other expenses |
|
1048.241 |
974.968 |
|
|
TOTAL |
|
3664.416 |
3474.390 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
939.420 |
812.255 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
90.982 |
112.220 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
848.438 |
700.035 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
208.200 |
202.553 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
|
640.238 |
497.482 |
|
|
|
|
|
|
|
Less |
TAX |
|
159.656 |
147.771 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
480.582 |
349.711 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
|
34.38 |
26.18 |
|
|
Diluted |
|
33.42 |
25.47 |
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 |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G07975931 |
100033815 |
IndusInd Bank Limited |
17/02/2016 |
30/06/2016 |
- |
250000000.0 |
1-10-72, 3rd Floor,Ashoka Janardhan Chambers,HyderabadTG500016IN |
|
2 |
B75085399 |
10416517 |
ICICI BANK LIMITED |
29/03/2013 |
09/05/2013 |
- |
85000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
3 |
G80152416 |
10414961 |
State Bank of |
22/02/2013 |
15/03/2018 |
- |
450000000.0 |
Overseas Branch, Mid Corporate GroupRoad No.36, Jubilee HillsHYDERABADKA585402IN |
|
4 |
B61781662 |
10368702 |
ICICI BANK LIMITED |
23/07/2012 |
25/10/2012 |
- |
274400000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
5 |
G85038214 |
10277527 |
State Bank of |
11/03/2011 |
18/04/2018 |
- |
2351000000.0 |
Overseas Branch, Mid Corporate GroupRoad No.36, Jubilee HillsHyderabadKA585402IN |
|
6 |
G81388860 |
100107793 |
State Bank of |
16/05/2017 |
- |
08/03/2018 |
868000000.0 |
Overseas Branch, Mid Corporate GroupRoad No.36, Jubilee HillsHyderabadTG500033IN |
|
7 |
G78356169 |
100073634 |
YES BANK LIMITED |
27/12/2016 |
08/05/2017 |
13/02/2018 |
62500000.0 |
|
|
8 |
G44323889 |
10374871 |
STATE BANK OF |
02/07/2011 |
25/10/2012 |
18/05/2017 |
210000000.0 |
OVERSEAS BRANCH,
PLOT NO.241/A, ROAD NO.36, |
|
9 |
G37051497 |
10474386 |
Bank of |
30/01/2014 |
09/05/2014 |
16/02/2017 |
150000000.0 |
6-3-550, L.B.BhawanAkashganga, SomajigudaHyderabadAP500082IN |
|
10 |
G09677477 |
10078122 |
STATE BANK OF |
08/11/2007 |
- |
05/08/2016 |
80000000.0 |
PUNJAGUTTA BRANCHH.NO.6-3-542/2, "ROSE MADE", PUNJAGUTTAHYDERABADAP500082IN |
BACKGROUND
Sai
Life Sciences Limited (the Company or SLSL), was incorporated on 25 January
1999 as a closely held public limited company. The Company is head quartered in
FINANCIAL OVERVIEW
During the current financial year, the Company has registered a total income of INR 4603.800 Million, a growth of 7.4% as compared to the previous year. The profit after tax was INR 475.000 Million as against the Profit of INR 343.900 Million as reported in the previous year.
BUSINESS OUTLOOK
The Global CRAMS market has undergone significant changes with respect to outsourcing criteria of the new generation drugs under development. Large pharmaceutical companies, on the back of significant tightening by the regulatory authorities are looking for outsourcing players that have extensive synthetic and analytical capabilities and no longer qualify outsourcing partners based on just plant capacity. Given the average estimated volumes of new drugs that are coming into the market, customers look for flexible manufacturing capacities with multi product capability as opposed to a model of a dedicated fixed line in the past. The Capital expenditure that the Company has incurred over the last three years has helped Sai become a preferred development and commercial partner for large pharma companies. The Company expects to continue its investment on R&D to help increase its manufacturing revenues.
In addition to the growth in the NCE space, the Company sees a lot of exciting opportunity in niche formulation development and complex APIs. The Company believes that the effort spent on developing its own products will provide significant manufacturing led growth in the coming years.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
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
|
INR |
|
US Dollar |
1 |
INR 66.78 |
|
|
1 |
INR 92.89 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information Gathered
by : |
AKY |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
|
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.