|
|
|
MIRA INFORM REPORT
|
Report No. : |
504259 |
|
Report Date : |
21.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
JAI TEXTILE UNIT
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3/3 Perumalmalai Road, Rayapalayam Pudur, Chithode, Erode – 638102,
Tamilnadu |
|
Tel. No.: |
91-424-2534256 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.06.2013 |
|
|
|
|
Com. Reg. No.: |
18-019584 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 2.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101TZ2013PTC019584 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTIN : [Goods & Service Tax Registration No.] |
Not Divulged |
|
|
|
|
TIN No : |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCJ1133D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Fabrics and Yarn Dyeing. [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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2013 and it is engaged in manufacturing of fabrics and yarn dyeing. As per financials of March 2017, the company has registered decline in its revenue as compared to its previous year’s revenue and has reported average profit margin. Rating takes into consideration the company’s sound net worth base along with satisfactory liquidity position and favourable gap between its trade payables to its trade receivables. Further, the company has reported a good earnings per share of INR 110.74 against its face value of INR 100. However, rating strength is partially offset by excess of borrowings recorded by the company. Payments seems to be slow but 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
|
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 21.04.2018
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 DECLINED
Management non-cooperative (Tel No.: 91-424-2534256)
Tel No : 91-9597708577
(Number is Not Working)
LOCATIONS
|
Registered Office : |
3/3 Perumalmalai Road, Rayapalayam Pudur, Chithode, Erode – 638102,
Tamilnadu, India |
|
Tel. No.: |
91-424-2534256 / 2534556 |
|
Fax No.: |
91-424-2535256 |
|
E-Mail : |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Ramasamy Viswam |
|
Designation : |
Managing Director |
|
Address : |
3/3 Perumalmalai Road, Rayapalayam Pudur, Chithode, Erode - 638102, Tamilnadu, India |
|
Date of Birth/Age : |
23.05.1965 |
|
Date of Appointment : |
12.06.2013 |
|
DIN No.: |
06603933 |
|
|
|
|
Name : |
Mr. Chithode Viswam Latha |
|
Designation : |
Director |
|
Address : |
3/3 Perumalmalai Road, Rayapalayam Pudur, Chithode, Erode - 638102, Tamilnadu, India |
|
Date of Birth/Age : |
31.07.1974 |
|
Date of Appointment : |
12.06.2013 |
|
DIN No.: |
06604510 |
MAJOR SHAREHOLDERS
As on 30.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
Ramasamy Viswam |
|
10000 |
|
Chithode Viswam Latha |
|
10000 |
|
Total |
|
20000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Fabrics and Yarn Dyeing. [Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Elangovan and Company Chartered Accountants |
|
Address : |
15, Vasavi Towers, Second Floor, Annamalai Layout, Erode – 638011,
Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFE5830A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
INR 100/- each |
INR 2.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
INR 100/- each |
INR 2.000 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 |
2.000 |
2.000 |
2.000 |
|
(b) Reserves & Surplus |
9.312 |
7.097 |
3.226 |
|
(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 |
11.312 |
9.097 |
5.226 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
73.179 |
51.597 |
40.950 |
|
(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 |
73.179 |
51.597 |
40.950 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
13.155 |
26.680 |
44.541 |
|
(b) Trade
payables |
38.866 |
46.894 |
56.731 |
|
(c) Other
current liabilities |
0.317 |
0.253 |
3.145 |
|
(d) Short-term
provisions |
2.016 |
2.092 |
1.201 |
|
Total Current
Liabilities |
54.354 |
75.919 |
105.618 |
|
|
|
|
|
|
TOTAL |
138.845 |
136.613 |
151.794 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
63.574 |
50.112 |
37.707 |
|
(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) |
0.618 |
0.748 |
0.509 |
|
(d) Long-term Loan and Advances |
2.306 |
1.662 |
1.597 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
66.498 |
52.522 |
39.813 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
35.025 |
49.985 |
75.143 |
|
(c) Trade
receivables |
34.440 |
29.120 |
32.794 |
|
(d) Cash
and cash equivalents |
0.693 |
2.388 |
0.608 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
2.189 |
2.598 |
3.436 |
|
Total
Current Assets |
72.347 |
84.091 |
111.981 |
|
|
|
|
|
|
TOTAL |
138.845 |
136.613 |
151.794 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
165.303 |
248.263 |
200.577 |
|
|
Other Income |
0.285 |
0.045 |
0.001 |
|
|
TOTAL |
165.588 |
248.308 |
200.578 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
26.173 |
36.598 |
48.147 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
11.492 |
21.018 |
(19.013) |
|
|
Employees benefits expense |
15.936 |
23.245 |
24.272 |
|
|
Other expenses |
96.870 |
145.662 |
125.266 |
|
|
TOTAL |
150.471 |
226.523 |
178.672 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
15.117 |
21.785 |
21.906 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5.376 |
8.025 |
9.677 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
9.741 |
13.760 |
12.229 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
5.681 |
8.057 |
9.398 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4.060 |
5.703 |
2.831 |
|
|
|
|
|
|
|
Less |
TAX |
1.845 |
1.832 |
0.896 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
2.215 |
3.871 |
1.935 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
110.740 |
193.550 |
106.140 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(17.753) |
13.731 |
(5.633) |
|
Net cash flows from (used in) operating activity |
(33.490) |
11.659 |
(7.487) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
76.05 |
42.81 |
59.68 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.80 |
8.53 |
6.12 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
542.01 |
467.68 |
430.07 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.43 |
0.44 |
0.29 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.24 |
0.43 |
0.58 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.92 |
0.93 |
0.97 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
7.63 |
8.60 |
16.36 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
4.80 |
8.35 |
20.21 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
5.62 |
5.51 |
7.22 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.81 |
2.71 |
2.26 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.34 |
1.56 |
0.96 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.60 |
2.83 |
1.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
19.58 |
42.55 |
37.03 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.33 |
1.11 |
1.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.69 |
0.45 |
0.35 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.08 |
0.07 |
0.03 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
43.17 |
39.14 |
42.75 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.33 |
1.11 |
1.06 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Share Capital |
2.000 |
2.000 |
2.000 |
|
Reserves & Surplus |
3.226 |
7.097 |
9.312 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5.226 |
9.097 |
11.312 |
|
|
|
|
|
|
long-term borrowings |
40.950 |
51.597 |
73.179 |
|
Short term borrowings |
44.541 |
26.680 |
13.155 |
|
Total
borrowings |
85.491 |
78.277 |
86.334 |
|
Debt/Equity
ratio |
16.359 |
8.605 |
7.632 |
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 |
200.577 |
248.263 |
165.303 |
|
|
|
23.774 |
(33.416) |
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 |
200.577 |
248.263 |
165.303 |
|
Profit |
1.935 |
3.871 |
2.215 |
|
|
0.96% |
1.56% |
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 |
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 |
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
30.838 |
16.117 |
|
Term loan from bank |
2.515 |
0.000 |
|
Term loan from other parties |
6.647 |
0.000 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demands from others |
0.000 |
0.100 |
|
Total |
40.000 |
16.217 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Amount |
Address |
|
1 |
G04869756 |
10475803 |
Indian Overseas Bank |
11/01/2014 |
21/05/2016 |
104431000.0 |
21 SATHY MAIN ROADPERIASEMUR, VEERAPPANCHATRAM POSTERODETN638004IN |
FIXED ASSETS
- Air Conditioner
- Machinery
- Electrical Fittings
- Furniture and Fittings
- Fax Machine
- 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 65.78 |
|
|
1 |
INR 93.42 |
|
Euro |
1 |
INR 81.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TRUP |
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.