|
|
|
MIRA INFORM REPORT
|
Report No. : |
502128 |
|
Report Date : |
05.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
PEHNAV E-RETAIL LLP |
|
|
|
|
Registered
Office : |
401, Office, Akshat Complex, Near Parshwa Complex, Opposite Rajpath
Club, Bodakdev, Ahmedabad – 380015, Gujarat |
|
Tel. No.: |
91-20-26650220 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
28.02.2018 (PEHNAV E-RETAIL LIMITED) |
|
|
|
|
Date of
Establishment : |
21.03.2018 |
|
|
|
|
Total Obligation
of Contribution: |
INR 325.517 Million |
|
|
|
|
LLPIN : |
AAM-2781 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV1903G |
|
|
|
|
GSTIN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
To design and manufacture, trade (including imports and exports) / sell through normal e-sales through web site of dresses, sarees, dress, materials, designer sarees with exclusive Indian traditional work, lehenga, chaniyacholi, kurtis, stitching of dresses or any kind of clothing etc. and to let on hire dresses, sarees. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information denied by the management
|
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 2700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
“Zylog Plastalloys Private Limited” was amalgamated with “Pehnav E Retail Limited” in February, 2018 later on Pehnav E Retail Limited converted in to Limited Liability Company (LLP) with the name of Pehnav E Retail LLP W.E.F 21st March, 2018. It is a manufacturer of Wearing Apparel. For the financial year 2018, the subject has registered a massive growth in its revenue as compared to its previous year’s revenue and has reported decent profit margin. Rating takes into consideration the subject’s established track record of business operations marked by healthy financial risk profile along with debt free balance sheet and good liquidity position. Business is active. Payments seems to be regular. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions. Note: Available financials are of “Pehnav E Retail Limited”. |
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
|
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
31-03-2018.
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 05.04.2018
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 DENIED BY
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-20-26650220)
91-20-26615655 (RINGING)
LOCATIONS
|
Registered Office : |
401, Office, Akshat Complex, Near Parshwa Complex, Opposite Rajpath
Club, Bodakdev, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-20-26650220 / 26615655 |
|
Fax No.: |
Not Available |
|
E-Mail : |
PARTNERS
As on 31.03.2017
|
Name : |
Mr. Mirisch Ratilal Damani |
|
Designation : |
Designated Partner |
|
Address : |
Flat No.8, Lvy Glen, S. No. 15, Wadgaon Sheri, Pune - 411014,
Maharashtra, India |
|
Date of Birth/Age : |
29.08.1948 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.03.2018 |
|
PAN No.: |
AAJPD2927Q |
|
DPIN No.: |
01991076 |
|
|
|
|
Name : |
Mr. Aschak Mirish Damani |
|
Designation : |
Designated Partner |
|
Address : |
Flat No.8, Lvy Glen, S. No. 15, Wadgaon Sheri, Pune - 411014, Maharashtra,
India |
|
Date of Birth/Age : |
29.12.1979 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.03.2018 |
|
PAN No.: |
ACIPD3391B |
|
DPIN No.: |
01172241 |
CONTRIBUTION DETAILS
|
Names of Persons |
INR in Million |
|
Aschak Mirisch Damani |
296.220 |
|
Mirisch Ratilal Damani |
29.297 |
|
|
|
|
Total |
325.517 |
BUSINESS DETAILS
|
Line of Business : |
To design manufacture, trade (including imports and exports) / sell through normal e-sales through web site of dresses, sarees, dress, materials, designer sarees with exclusive Indian traditional work, lehenga, chaniyacholi, kurtis, stitching of dresses or any kind of clothing etc. and to let on hire dresses, sarees. (Registered Activity) |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management
|
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Bankers : |
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Facilities : |
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|
Auditors : |
|
|
Name : |
Manesh Mehta and Company Chartered Accountants |
|
Address : |
Navrang Building, 3rd Floor, 330, Narsinatha Street, Masjid Bunder,
Mumbai-400009, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPM8177G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Sister Concern : |
Not Available |
CONTRIBUTION
|
Total Obligation of contribution |
INR 325.517 Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
PEHNAV
E-RETAIL LIMITED
|
SOURCES
OF FUNDS |
28.02.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
325.517 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
626.854 |
1.056 |
(0.734) |
|
(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) |
952.371 |
1.556 |
(0.234) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.075 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.587 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
5.662 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
256.284 |
0.010 |
0.000 |
|
(b) Trade payables |
53.757 |
0.034 |
0.270 |
|
(c) Other current liabilities |
22.552 |
0.012 |
0.000 |
|
(d) Short-term provisions |
11.170 |
0.709 |
0.000 |
|
Total
Current Liabilities (4) |
343.763 |
0.765 |
0.270 |
|
|
|
|
|
|
TOTAL |
1301.796 |
2.321 |
0.036 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
136.675 |
0.000 |
0.000 |
|
(ii) Intangible Assets |
2.103 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
2.862 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
810.482 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
24.002 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
976.124 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
65.400 |
0.000 |
0.000 |
|
(c) Trade receivables |
145.787 |
0.234 |
0.000 |
|
(d) Cash and cash equivalents |
23.589 |
2.060 |
0.015 |
|
(e) Short-term loans and
advances |
2.633 |
0.000 |
0.021 |
|
(f) Other current assets |
88.263 |
0.027 |
0.000 |
|
Total
Current Assets |
325.672 |
2.321 |
0.036 |
|
|
|
|
|
|
TOTAL |
1301.796 |
2.321 |
0.036 |
PROFIT
& LOSS ACCOUNT
PEHNAV
E-RETAIL LIMITED
|
|
PARTICULARS |
28.02.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
497.058 |
4.633 |
0.000 |
|
|
Other Income |
55.012 |
0.928 |
0.000 |
|
|
TOTAL
|
552.070 |
5.561 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
307.769 |
2.582 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and
Stock-in-Trade |
(4.315) |
0.000 |
0.000 |
|
|
Employees benefits expense |
82.512 |
0.000 |
0.000 |
|
|
Other expenses |
69.856 |
0.389 |
0.027 |
|
|
TOTAL |
455.822 |
2.971 |
0.027 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
96.248 |
2.590 |
(0.027) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
23.306 |
0.004 |
0.001 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
72.942 |
2.586 |
(0.028) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
14.578 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
58.364 |
2.586 |
(0.028) |
|
|
|
|
|
|
|
Less |
TAX |
1.246 |
0.797 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
57.118 |
1.789 |
(0.028) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
1.75 |
35.79 |
(0.56) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
28.02.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(188.460) |
2.811 |
0.005 |
|
Net cash from operating activities |
(185.706) |
2.015 |
0.005 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
28.02.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
107.05 |
18.44 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.41 |
19.80 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
63.75 |
4.81 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.47 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.68 |
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
28.02.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.26 |
0.33 |
7.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.27 |
0.01 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.36 |
0.49 |
-1.15 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.15 |
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.13 |
647.50 |
-27.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
28.02.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
11.49 |
38.61 |
#DIV/0! |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.39 |
77.08 |
-77.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
6.00 |
114.97 |
11.97 |
SOLVENCY RATIOS
|
PARTICULARS |
28.02.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.95 |
3.03 |
0.13 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.76 |
3.03 |
0.13 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.73 |
0.67 |
-6.50 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.79 |
0.02 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.95 |
3.03 |
0.13 |
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
|
Particular |
31.03.2016 |
31.03.2017 |
28.02.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
0.500 |
0.500 |
325.517 |
|
Reserves & Surplus |
(0.734) |
1.056 |
626.854 |
|
Net
worth |
(0.234) |
1.556 |
952.371 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.010 |
256.284 |
|
Total
borrowings |
0.000 |
0.010 |
256.284 |
|
Debt/Equity
ratio |
0.000 |
0.006 |
0.269 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2017 |
28.02.2018 |
|
|
INR
In Million |
INR
In Million |
|
Sales
|
4.633 |
497.058 |
|
|
|
10,628.642 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2017 |
28.02.2018 |
|
|
INR
In Million |
INR
In Million |
|
Sales
|
4.633 |
497.058 |
|
Profit |
1.789 |
57.118 |
|
|
38.61% |
11.49% |
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 |
No |
|
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
SCHEME OF
AMALGAMATION
A scheme of Amalgamation (the scheme) for the amalgamation of Zylog Plastalloys Private Limited. The First Transferor Company, Zylog Composites Private Limited “The Second Transferor Company”, with Pehnav E Retail Limited (The Transferee Company) with effect from April 1, 2017, (The Appointed Date), was sanctioned by the National Company Law Tribunal of Judicature at Ahmedabad, vide its order dated February 20, 2018 and certified copies of the Order of the Court sanctioning the Scheme were filed with the Registrar of Companies, Gujarat (the Effective Date). Accordingly, the standalone results of the company for the period ended February 28, 2018, include the results of the erstwhile Zylog Plastalloys Private Limited Zylog Composites Private Limited and Pehnav E Retail Limited for the period ended February 28, 2018.
UNSECURED LOAN
|
Particular |
28.02.2018 (INR
in Million) |
31.03.2017 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loan taken from related parties and carries Interest rate @9.50 to 10%
p.a. (Previous year Interest Free) |
256.284 |
0.000 |
|
|
|
|
|
Total |
256.284 |
0.000 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Building
- Plant and Equipment
- Furniture and Fixture
- Vehicles
- Office equipment
- Computer
- Computer software
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 65.02 |
|
|
1 |
INR 91.46 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information Gathered
by : |
SAV |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KJL |
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 |
NO |
|
--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.