|
|
|
MIRA INFORM REPORT
|
Report No. : |
493860 |
|
Report Date : |
26.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
COTEC HEALTHCARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2/1B, East Azad Nagar, New Delhi - 110024 |
|
Mobile No.: |
91-9149361661 (Ms. Sunita) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
22.12.1998 |
|
|
|
|
Com. Reg. No.: |
11-097598 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 4.947 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232DL1998PTC097598 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
0507081684 |
|
|
|
|
TIN / CST No.: |
05004025622 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
05AAACC8454D2ZX |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC8454D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
and Trader of medicines. [Registered activity and also confirmed by
management] |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 220000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1998 and it is a manufacturer and trader of
medicines. As per
financials of March 2017, the company has registered a growth of 22.51% in its
revenue as compared to its previous year’s revenue and reported average
profit margin of 3.51%. Rating
takes into consideration the company’s established track record business
operations marked by sound net worth along with comfortable debt coverage indicators
and decent liquidity position. Further,
the company has reported a good earnings per share of INR 27.39 against its
face value of INR 10. Payments
seems to be usually correct. In view
of aforesaid, the company can be considered 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2016.
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 26.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Sunita |
|
Designation : |
Purchase Department |
|
Contact No.: |
91-9149361661 |
|
Date : |
24.02.2018 |
LOCATIONS
|
Registered Office : |
2/1B, East Azad Nagar, New Delhi – 110024, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9149361661 (Ms. Sunita) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Head Office : |
E-72, South Side G T Road, Industrial Area, Ghaziabad – 201099, Uttar
Pradesh, India |
|
|
|
|
Factory : |
NH-74, Kishanpur Roorkee, Roorkee Dehradun Highway, Roorkee,
Uttarakhand, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Harsh Tiwari |
|
Designation : |
Managing Director |
|
Address : |
R-4/118, Raj Nagar Ghaziabad -201001, Uttar Pradesh,
India |
|
Date of Appointment : |
01.01.2016 |
|
DIN No.: |
00161597 |
|
|
|
|
Name : |
Mr. Gyan Tiwari |
|
Designation : |
Director |
|
Address : |
R-4/118, Raj Nagar Ghaziabad -201001, Uttar Pradesh,
India |
|
Date of Appointment : |
22.12.1998 |
|
DIN No.: |
01145497 |
KEY EXECUTIVES
|
Name : |
Ms. Sunita |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Gyan Tiwari |
|
59925 |
|
Nishit Rawat |
|
29050 |
|
Shefali Rawat |
|
16350 |
|
Harsh Tiwari |
|
252880 |
|
Harsh Tiwari(HUF) |
|
9825 |
|
R.K.Tiwari(HUF) |
|
9625 |
|
Vandana Tiwari |
|
115750 |
|
Shivendar Singh Gautam |
|
1250 |
|
Total |
|
494655 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Trader of medicines. [Registered activity and also confirmed by
management] |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Finished Good |
|
Countries : |
Pakistan |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Advance Payment, Cheque and Credit |
|
|
|
|
Purchasing : |
L/C, Advance Payment, Cheque and Credit |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
End Users
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
600 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Rajendar Kumar Chartered Accountants |
|
Address : |
88, New Gandhi Nagar, Ghaziabad – 201001, Uttar Pradesh, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACYPK1743J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprise significant influence /substantial interest and their
relatives: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 10/- each |
INR 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
494655 |
Equity Shares |
INR 10/- each |
INR 4.947 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.947 |
4.947 |
4.947 |
|
(b) Reserves &
Surplus |
73.288 |
60.045 |
50.518 |
|
(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) |
78.235 |
64.992 |
55.465 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
23.413 |
15.837 |
2.957 |
|
(b) Deferred tax
liabilities (Net) |
9.807 |
7.892 |
6.163 |
|
(c) Other long term
liabilities |
7.225 |
6.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
40.445 |
29.729 |
9.120 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
28.883 |
28.441 |
24.106 |
|
(b) Trade payables |
103.975 |
86.499 |
70.880 |
|
(c) Other current
liabilities |
13.409 |
7.021 |
4.600 |
|
(d) Short-term provisions |
4.023 |
2.770 |
2.028 |
|
Total Current Liabilities
(4) |
150.290 |
124.731 |
101.614 |
|
|
|
|
|
|
TOTAL |
268.970 |
219.452 |
166.199 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
141.034 |
116.869 |
84.402 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
15.923 |
0.640 |
0.553 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.458 |
1.052 |
0.640 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
158.415 |
118.561 |
85.595 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
23.905 |
22.655 |
17.016 |
|
(c) Trade receivables |
61.060 |
60.032 |
42.941 |
|
(d) Cash and cash
equivalents |
1.387 |
0.426 |
5.343 |
|
(e) Short-term loans and
advances |
23.910 |
17.500 |
15.235 |
|
(f) Other current assets |
0.293 |
0.278 |
0.069 |
|
Total Current Assets |
110.555 |
100.891 |
80.604 |
|
|
|
|
|
|
TOTAL |
268.970 |
219.452 |
166.199 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
377.757 |
308.358 |
286.434 |
|
|
Other Income |
1.455 |
0.060 |
0.226 |
|
|
TOTAL |
379.212 |
308.418 |
286.660 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
266.533 |
230.831 |
234.362 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.986) |
0.823 |
2.328 |
|
|
Employees benefits
expense |
31.088 |
16.532 |
10.405 |
|
|
Other expenses |
46.308 |
34.211 |
19.216 |
|
|
TOTAL |
342.943 |
282.397 |
266.311 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
36.269 |
26.021 |
20.349 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
6.811 |
4.712 |
3.796 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
29.458 |
21.309 |
16.553 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
9.901 |
8.010 |
6.112 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
19.557 |
13.299 |
10.441 |
|
|
|
|
|
|
|
Less |
TAX |
6.008 |
3.772 |
2.330 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
13.549 |
9.527 |
8.111 |
|
|
|
|
|
|
|
|
PRIOR PERIOD ITEMS |
(0.306) |
0.000 |
0.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
13.243 |
9.527 |
8.311 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
27.39 |
19.26 |
16.40 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
5.790 |
2.968 |
0.830 |
|
|
|
|
|
|
Cash generated from operations |
44.091 |
20.952 |
26.809 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
41.913 |
17.179 |
24.479 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
59.00 |
71.06 |
54.72 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.19 |
5.14 |
6.67 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
142.39 |
136.78 |
110.39 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.52 |
1.15 |
1.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.23 |
0.22 |
0.24 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.67 |
0.65 |
0.63 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.74 |
0.73 |
0.50 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.92 |
1.92 |
1.83 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.01 |
1.81 |
1.53 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.33 |
5.52 |
5.36 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.51 |
3.09 |
2.90 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.92 |
4.34 |
5.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
16.93 |
14.66 |
14.98 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.74 |
0.81 |
0.79 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.58 |
0.63 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.29 |
0.30 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
11.74 |
9.55 |
5.64 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.74 |
0.81 |
0.79 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR In
Million |
|
Share Capital |
4.947 |
4.947 |
4.947 |
|
Reserves & Surplus |
50.518 |
60.045 |
73.288 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
55.465 |
64.992 |
78.235 |
|
|
|
|
|
|
Long Term borrowings |
2.957 |
15.837 |
23.413 |
|
Short Term borrowings |
24.106 |
28.441 |
28.883 |
|
Current Maturities of Long term debt |
0.830 |
2.968 |
5.790 |
|
Total
borrowings |
27.893 |
47.246 |
58.086 |
|
Debt/Equity
ratio |
0.503 |
0.727 |
0.742 |
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
|
286.434 |
308.358 |
377.757 |
|
|
|
7.654 |
22.506 |
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
|
286.434 |
308.358 |
377.757 |
|
Profit |
8.311 |
9.527 |
13.243 |
|
|
2.90% |
3.09% |
3.51% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from related parties |
2.622 |
2.365 |
|
Loans and advances from body corporates |
23.413 |
2.005 |
|
Total |
26.035 |
4.370 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G72357072 |
10006641 |
STATE BANK OF
INDIA |
06/03/2006 |
02/11/2017 |
83700000.0 |
SME BRANCHNAVYUG
MARKETGHAZIABADUP201001IN |
|
2 |
G72357528 |
10002755 |
STATE BANK OF
INDIA |
06/03/2006 |
02/11/2017 |
83700000.0 |
SME BRANCHNAVYUG
MARKETGHAZIABADUP201001IN |
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Electricity Fittings
- Lab Equipment’s
- Generator
- Computer
- Furniture and Fixtures
- Office Equipment
- Air Conditioner
- Cooler
- Car
- Mobile Phones
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 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
YES |
|
--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.