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|
MIRA INFORM REPORT
|
Report No. : |
503548 |
|
Report Date : |
17.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
TUI INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Suite No. 10A and K-1, First Floor, Gobind Mansion, H-Block, Connaught
Circus, New Delhi-110001 |
|
Tel. No.: |
91-11-41513311 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
02.06.2016 |
|
|
|
|
Com. Reg. No.: |
55-300827 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 40.300
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63030DL2016FTC300827 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Applicable (As informed by the management that firm does not have export and import) |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
07AAFCT7808M1ZT |
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|
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|
TIN No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAFCT7808M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Tours and Travels Services. [Registered Activity and also
Confirmed by Management] |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a step-down subsidiary of “TUI AG” based in Germany and it was
incorporated in the year 2016. As per financials
of March 2017, the company has commenced its business operations but has
reported losses. Rating
takes into consideration the company’s limited track record of business
operations along with moderate financial risk profile average liquidity position. Rating is
further constrained on account of its presence in highly competitive travel
agency business. However,
ratings weakness is partially offset by financial support received from its
holding entity. 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
31-03-2016.
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 17.04.2018.
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Nishant |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-11-41513311 |
|
Date : |
13.04.2018 |
LOCATIONS
|
Registered Office : |
Suite No. 10A and K-1, First Floor, Gobind Mansion, H- Block,
Connaught Circus, New Delhi-110001, India |
|
Tel. No.: |
91-11-41513311 |
|
Fax No.: |
91-11-41513454 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Gurugram Office : |
Soulstice, 4th Floor, Plot No 52, Sector-44,
Gurugram-122003, Haryana, India |
|
Tel. No.: |
91-124-3844500/ 33008888 |
|
Fax No.: |
91-124-3844501 |
|
E-Mail : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Naveen Singal |
|
Designation : |
Wholetime Director |
|
Address : |
Flat No. 302, Tower 5, Valley View Estate, Faridabad Road,
Gurgaon-122003, Haryana, India |
|
Date of Appointment : |
02.06.2016 |
|
DIN No.: |
07466622 |
|
|
|
|
Name : |
Frank Johann Tietjen |
|
Designation : |
Additional Director |
|
Address : |
Gehagestr. 20 J Hannover 30655 DE |
|
Date of Appointment : |
31.01.2018 |
|
DIN No.: |
08058967 |
|
|
|
|
Name : |
Mr. Krishan Kumar Singh |
|
Designation : |
Wholetime Director |
|
Address : |
House No. 616/B/2, Street No.1 Hanuman Temple, Patel Nagar,
Gurgaon-122001, Haryana, India |
|
Date of Birth/Age : |
22.06.1974 |
|
Date of Appointment : |
05.03.2018 |
|
DIN No.: |
08081298 |
KEY EXECUTIVES
|
Name : |
Ms. Garima Saxena |
|
Designation : |
Company Secretary |
|
Address : |
10 G, Vikrant Apartment Sector - 13, Rohini, New
Delhi-110085, India |
|
Date of Appointment : |
20.03.2017 |
|
PAN No.: |
CYRPS5758N |
|
|
|
|
Name : |
Mr. Nishant |
|
Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
TUI Spain S.L.U, Spain |
398970 |
99.00 |
|
TUI AG, Germany |
4030 |
1.00 |
|
|
|
|
|
Total |
403000 |
100.00 |
AS ON: 22.12.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Tours and Travels Services. [Registered Activity and also
Confirmed by Management] |
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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 : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Credit and Others [NEFT, RTGS] |
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Purchasing : |
Credit and Others [NEFT, RTGS] |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Others
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No. of Employees : |
20 (Approximately) |
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Bankers : |
·
The Hongkong and Shanghai
Banking Corporation |
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Facilities : |
--- |
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|
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|
Auditors : |
|
|
Name : |
Gaurav and Company Chartered Accountants |
|
Address : |
A-1/292, Ground Floor, Janakpuri, New Delhi-110058, India |
|
Mobile No.: |
91-9899655799 |
|
E-Mail : |
|
|
PAN No.: |
AMAPG1243M |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding Company : |
TUI Spain S.L.U |
|
|
|
|
Ultimate Holding Company : |
TUI AG, Germany |
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|
|
|
Associated Enterprises (Till 12.09.2016) : |
Le Passage to India Tours and Travel Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 100/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
403000 |
Equity Shares |
INR 100/- each |
INR 40.300
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
40.300 |
|
(b) Reserves & Surplus |
|
|
(179.950) |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
(139.650) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c)
Other long term liabilities |
|
|
0.300 |
|
(d)
long-term provisions |
|
|
7.928 |
|
Total
Non-current Liabilities (3) |
|
|
8.228 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
0.000 |
|
(b)
Trade payables |
|
|
164.270 |
|
(c)
Other current liabilities |
|
|
368.784 |
|
(d)
Short-term provisions |
|
|
0.000 |
|
Total
Current Liabilities (4) |
|
|
533.054 |
|
|
|
|
|
|
TOTAL |
|
|
401.632 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
18.462 |
|
(ii)
Intangible Assets |
|
|
134.598 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax assets
(net) |
|
|
3.538 |
|
(d) Long-term Loan
and Advances |
|
|
11.050 |
|
(e)
Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
167.648 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
0.000 |
|
(c)
Trade receivables |
|
|
136.119 |
|
(d)
Cash and cash equivalents |
|
|
15.413 |
|
(e)
Short-term loans and advances |
|
|
82.452 |
|
(f)
Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
233.984 |
|
|
|
|
|
|
TOTAL |
|
|
401.632 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
|
41.286 |
|
|
|
Other Income |
|
|
16.481 |
|
|
|
TOTAL |
|
|
57.767 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
|
|
112.493 |
|
|
|
Other Operating and Administrative expenses |
|
|
167.355 |
|
|
|
TOTAL |
|
|
279.848 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
(222.081) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
6.603 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
(228.684) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
14.504 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
|
(243.188) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
(3.538) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
|
(239.650) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
(956.19) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Maturities of Long term debt |
|
|
NA |
|
|
|
|
|
|
Cash generated from operations |
|
|
(97.179) |
|
|
|
|
|
|
Net Cash flow from Operating Activities |
|
|
(97.179) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
|
1203.40 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
|
0.30 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
|
NA |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
|
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
|
(1.45) |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
|
1.33 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
(3.82) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
(1.10) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
|
(33.63) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
|
(580.46) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
(59.67) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
171.61 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
|
0.44 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
0.44 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
(0.35) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
0.44 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
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) |
No |
|
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 |
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 one year |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last one year |
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 |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
BACKGROUND
TUI India Private Limited was incorporated as on June 02,
2016 under the provision of Companies Act, 2013 having registration number
U63030DL2016FTC300827 at the office of Registrar of Companies NCT of Delhi and
Haryana with the object to carry on business of providing tour, travel and
leisure service in India and outside including ticketing, tours & travel
packages, 
reservations for hotels and other
related services.
The Company services include air ticketing, hotel bookings, land arrangements, travel insurance, foreign exchange, visa and passport facilitation and holiday packages to suit the markets at competitive rates. The Company's focus on quality of service and reliability is supplemented by their commitment to optimizing their customer's cost, comfort and convenience.
BRIEF DESCRIPTION
OF THE COMPANY’S WORKING DURING THE YEAR/ STATE OF COMPANY’S AFFAIR
The company is engaged in the business of providing various services in
relation to tours and travels in India and outside India. It caters to both
domestic and international travelers.
CONTINGENT
LIABILITIES:
|
Particulars |
|
31.03.2017 (INR
In Million) |
|
Guarantee
outstanding -Performance
Bank Guarantee against contracts entered with various vendors |
|
|
|
Performance Bank Guarantee in USD |
|
0.179 |
|
Performance Bank Guarantee in EURO |
|
0.010 |
|
Performance Bank Guarantee in GBP |
|
0.015 |
|
|
|
|
|
Total |
|
0.204 |
FIXED ASSETS:
Tangible Assets
·
Office Equipment
·
Furniture and Fixtures
·
Computer Equipments
· Leasehold Improvements
Intangible Assets
·
Software
·
Goodwill
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 65.45 |
|
UK Pound |
1 |
INR 93.28 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.