|
|
|
MIRA INFORM REPORT
|
Report No. : |
501942 |
|
Report Date : |
06.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
LOCHAN TEA LIMITED |
|
|
|
|
Registered
Office : |
2nd Mile, Narmada Apartments, Sevok Road, Siliguri-734001,
West Bengal |
|
Tel. No.: |
91-353-2540652 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
10.04.1992 |
|
|
|
|
Com. Reg. No.: |
21-055194 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 12.153 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109WB1992PLC055194 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
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TIN No.: |
19893073020 |
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|
|
GSTN : [Goods & Service Tax
Registration No.] |
19AAACL3951C1ZQ |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
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|
|
PAN No.: [Permanent Account No.] |
AAACL3951C |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
Line of Business
: |
The company is engaged in the business of blending and selling of CTC
tea. [Registered
Activity] |
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|
|
|
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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 58000 |
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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 1992 and it is engaged in blending and selling of CTC Tea. As per financials of March 2017, the company has registered a decent growth in its revenue and has reported average profit margin. Rating takes into consideration the company’s moderate financial risk profile along with low reserves level and average liquidity position. Payments terms seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings 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
|
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
31-03-2018.
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 06.04.2018.
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
Tel. No.: 91-353-2540652 (Accounts Department)
LOCATIONS
|
Registered Office : |
2nd Mile, Narmada Apartments, Sevok Road, Siliguri-734001,
West Bengal, India |
|
Tel. No.: |
91-353-2540652 |
|
Fax No.: |
91-353-2547001 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rajiv Lochan |
|
Designation : |
Director |
|
Address : |
Narbada Apartments, 2nd Mile, Sevoke Road, Siliguri-734001, West Bengal, India |
|
Date of Birth/Age : |
20.02.1954 |
|
Date of Appointment : |
10.04.1992 |
|
DIN No.: |
00381120 |
|
|
|
|
Name : |
Ms. Manisha Lochan |
|
Designation : |
Director |
|
Address : |
2nd Mile, Sevoke Road P.S. Bhaktinagar, Siliguri-734001, West Bengal, India |
|
Date of Birth/Age : |
12.08.1960 |
|
Date of Appointment : |
22.08.2001 |
|
DIN No.: |
00381447 |
|
|
|
|
Name : |
Mr. Vivek Lochan |
|
Designation : |
Director |
|
Address : |
Narbada Apartments, 2nd Mile, Sevoke Road, Siliguri-734001, West Bengal, India |
|
Date of Birth/Age : |
09.01.1989 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No.: |
03372581 |
MAJOR SHAREHOLDERS
AS ON 30.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
Rajiv Lochan |
|
656670 |
|
Manisha Lochan |
|
171050 |
|
Vivek Lochan |
|
108400 |
|
Himalayan Carriers Private Limited |
|
88800 |
|
Gaurav Vashney |
|
55000 |
|
Neha Lochan |
|
22500 |
|
Mayuri Lochan |
|
1000 |
|
Bitter Commercial Private Limited |
|
111830 |
|
Total |
|
1215250 |
AS ON 30.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
77.03 |
|
Public/Other than promoters - Individual/Hindu Undivided Family – Indian |
6.46 |
|
Public/Other than promoters - Bodies corporate |
16.51 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of blending and selling of CTC
tea. [Registered
Activity] |
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Products / Services
: |
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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 : |
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 denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
G. S. Hora and Associates Chartered Accountants |
|
Address : |
5th Floor, Niladri Shikhar, Hill Cart Road, Siliguri-734001, West
Bengal, India |
|
Tel. No.: |
91-353-2431693 / 2431076 (O) |
|
Fax No.: |
91-353-2534155 |
|
E-Mail : |
|
|
PAN No.: |
AACFG4702D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1215250 |
Equity Shares |
INR 10/- each |
INR 12.153 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 |
12.153 |
12.153 |
12.153 |
|
(b) Reserves &
Surplus |
8.199 |
7.464 |
7.048 |
|
(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) |
20.352 |
19.617 |
19.201 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2.723 |
1.811 |
0.910 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2.723 |
1.811 |
0.910 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
14.523 |
9.120 |
8.885 |
|
(b) Trade payables |
17.642 |
11.091 |
9.292 |
|
(c) Other current
liabilities |
5.102 |
9.130 |
7.365 |
|
(d) Short-term provisions |
0.000 |
0.041 |
0.000 |
|
Total Current Liabilities
(4) |
37.267 |
29.382 |
25.542 |
|
|
|
|
|
|
TOTAL |
60.342 |
50.810 |
45.653 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3.157 |
3.483 |
4.214 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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) |
0.460 |
0.487 |
0.422 |
|
(d) Long-term Loan and Advances |
5.527 |
5.532 |
5.443 |
|
(e) Other Non-current
assets |
5.595 |
5.184 |
4.785 |
|
Total Non-Current Assets |
14.739 |
14.686 |
14.864 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
23.560 |
11.083 |
9.382 |
|
(c) Trade receivables |
13.591 |
15.376 |
11.942 |
|
(d) Cash and cash
equivalents |
3.757 |
6.021 |
5.759 |
|
(e) Short-term loans and
advances |
4.695 |
3.644 |
3.706 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
45.603 |
36.124 |
30.789 |
|
|
|
|
|
|
TOTAL |
60.342 |
50.810 |
45.653 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
54.613 |
41.421 |
36.332 |
|
|
Other Income |
0.456 |
0.454 |
0.410 |
|
|
TOTAL |
55.069 |
41.875 |
36.742 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
45.677 |
3.719 |
5.218 |
|
|
Purchases of
Stock-in-Trade |
5.530 |
24.602 |
22.076 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(12.195) |
(0.895) |
(3.722) |
|
|
Employees benefits expense |
4.013 |
3.972 |
3.988 |
|
|
Other expenses |
8.500 |
7.018 |
6.201 |
|
|
TOTAL |
51.525 |
38.416 |
33.761 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
3.544 |
3.459 |
2.981 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1.910 |
1.573 |
1.260 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1.634 |
1.886 |
1.721 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.551 |
0.802 |
1.538 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.083 |
1.084 |
0.183 |
|
|
|
|
|
|
|
Less |
TAX |
0.349 |
0.668 |
0.104 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.734 |
0.416 |
0.079 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.60 |
0.34 |
0.06 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1.990 |
1.900 |
0.403 |
|
Cash generated from operations |
(6.304) |
0.008 |
6.380 |
|
Net cash flow from (used in) operating activities |
(6.584) |
(0.683) |
5.879 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
90.83 |
135.49 |
119.97 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
4.02 |
2.69 |
3.04 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
125.75 |
142.94 |
124.26 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.15 |
0.31 |
0.32 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.12 |
0.99 |
0.71 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.70 |
0.65 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.95 |
0.65 |
0.53 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.83 |
1.50 |
1.33 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.16 |
0.18 |
0.22 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.86 |
2.20 |
2.37 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
1.34 |
1.00 |
0.22 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.22 |
0.82 |
0.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
3.61 |
2.12 |
0.41 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.22 |
1.23 |
1.21 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.59 |
0.85 |
0.84 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.34 |
0.39 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.58 |
1.06 |
0.84 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.22 |
1.23 |
1.21 |
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 |
12.153 |
12.153 |
12.153 |
|
Reserves & Surplus |
7.048 |
7.464 |
8.199 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
19.201 |
19.617 |
20.352 |
|
|
|
|
|
|
Long-term borrowings |
0.910 |
1.811 |
2.723 |
|
Short term borrowings |
8.885 |
9.120 |
14.523 |
|
Current Maturities of
Long term debt |
0.403 |
1.900 |
1.990 |
|
Total borrowings |
10.198 |
12.831 |
19.236 |
|
Debt/Equity ratio |
0.531 |
0.654 |
0.945 |
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 |
36.332 |
41.421 |
54.613 |
|
|
|
14.007 |
31.849 |
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 |
36.332 |
41.421 |
54.613 |
|
Profit |
0.079 |
0.416 |
0.734 |
|
|
0.22% |
1.00% |
1.34% |
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 |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFFORMATION
The company is a limited company domiciled in India and incorporated
under the companies act, 1956. The company is engaged in the business of
blending and selling of CTC tea.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Long-term
Borrowings |
|
|
|
Shri Ram
City-Union Finance Limited |
|
|
|
Agreement No.CDSGITF1506060001 |
0.000 |
0.104 |
|
Tata capital
Financial Services Limited |
|
|
|
Agreement No.5074264 |
1.988 |
1.162 |
|
From other parties |
0.735 |
0.100 |
|
Total |
2.723 |
1.366 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G56332760 |
80016026 |
UNION BANK OF INDIA SILIGURI BRANCH |
29/06/1999 |
13/09/2017 |
17750000.0 |
Krishna Tower, Hill Cart Road, Siliguri-735134, West Bengal, India |
FIXED ASSETS:
- Building
- Plant and
Machinery
- Tools and
equipments
- Fax machine
- Air
conditioner
- Camera
- Tata sky HD
- Water filter
- Cycle
- Motor cycle
- Computer
- Printer
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 65.06 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information Gathered
by : |
SUP |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
BHG |
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.