|
|
|
MIRA INFORM REPORT
|
Report No. : |
505443 |
|
Report Date : |
23.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ALSTOM SYSTEMS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
66/2, 3rd Floor, Embassy Prime, C.V. Raman Nagar, Bangalore - 560075, Karnataka |
|
Mobile No.: |
91-9899912264 (Mr. Harish Pratap Singh) |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
11.08.2015 |
|
|
|
|
Com. Reg. No.: |
08-082177 |
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|
|
Capital Investment
/ Paid-up Capital : |
INR 533.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45205KA2015FTC082177 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
AANCA6995Q |
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|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
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Line of Business
: |
Manufacture of Self-propelled Railway/ Tramway Coaches, Vans and Trucks, Maintenance and Service. (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 1400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of “Alstom Transport SA, France”. The company
was incorporated in the year 2015. It is a manufacturer of Self-propelled Railway/ Tramway Coaches, Vans and Trucks, Maintenance and Service. For the financial year ended 2017, the company has earned revenue of INR 1459.386 million but has incurred operational loss. The moderate financial profile of the company is marked by negative reserve base. However, rating weakness is partially offset by subjects debt free balance sheet profile. Rating takes into consideration strong financial and managerial
support that the company receives from its holding entity backed by its well
experienced management team. Payment 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 23.04.2018
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
|
Name : |
Mr. Harish Pratap Singh |
|
Designation : |
Office Assistant |
|
Contact No.: |
91-9899912264 |
|
Date : |
23.04.2018 |
MANAGEMENT NON-COOPERATIVE (91-90-42095000)
LOCATIONS
|
Registered Office : |
66/2, 3rd Floor, Embassy Prime, C.V. Raman Nagar, Bangalore - 560075, Karnataka, India |
|
Tel. No.: |
91-90-42095001 |
|
Mobile No.: |
91-9899912264 (Mr. Harish Pratap Singh) 91-9899912265 (Mr. Nikhil Patni) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
1st Floor, Main NH2, Tundla Dist.- Firozabad –
283204, Uttar Pradesh, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Sanjeev Kumar |
|
Designation : |
Director |
|
Address : |
E 13, Sushant Lok-III, Sector 57, VILL Tigra Tehsil, Gurugram – 122002, Haryana, India |
|
Date of Appointment : |
03.05.2017 |
|
DIN No.: |
07758497 |
|
|
|
|
Name : |
Mr. Rahul Poddar |
|
Designation : |
Additional Director |
|
Address : |
Sobha Classic, Flat No. 3022, Haralur Road, Bangalore -560102,
Karnataka, India |
|
Date of Appointment : |
13.12.2017 |
|
DIN No.: |
08011424 |
KEY EXECUTIVES
|
Name : |
Mr. Harish Pratap Singh |
|
Designation : |
Office Assistant |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age |
|
Alstom Transport SA, France |
50635000 |
95.00 |
|
GE Power India Limited, India |
2665000 |
5.00 |
|
Total |
53300000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Self-propelled Railway/ Tramway Coaches, Vans and Trucks, Maintenance and Service. (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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
S. N. Dhawan and Company LLP Chartered Accountants |
|
Address : |
410, Ansal Bhawan, 16, Kasturba Gandhi Marg, Delhi-110001, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAQFS0580H |
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|
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Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
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|
Holding company: |
|
|
|
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|
Ultimate
Holding company: |
|
|
|
|
|
Fellow Subsidiary
company: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53300000 |
Equity Shares |
INR 10/- each |
INR 533.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53300000 |
Equity Shares |
INR 10/- each |
INR 533.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
533.000 |
533.000 |
|
(b) Reserves and Surplus |
|
(47.551) |
(4.611) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
485.449 |
528.389 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
6.902 |
3.555 |
|
Total Non-current
Liabilities (3) |
|
6.902 |
3.555 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
233.596 |
17.149 |
|
(c) Other
current liabilities |
|
734.425 |
533.817 |
|
(d) Short-term
provisions |
|
14.761 |
0.289 |
|
Total Current
Liabilities (4) |
|
982.782 |
551.255 |
|
|
|
|
|
|
TOTAL |
|
1475.133 |
1083.199 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
139.219 |
4.911 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
13.728 |
23.735 |
|
(e) Other
Non-current assets |
|
0.025 |
0.025 |
|
Total Non-Current
Assets |
|
152.972 |
28.671 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c) Trade
receivables |
|
38.761 |
0.000 |
|
(d) Cash and
bank balances |
|
810.413 |
874.508 |
|
(e)
Short-term loans and advances |
|
452.083 |
177.714 |
|
(f) Other
current assets |
|
20.904 |
2.306 |
|
Total
Current Assets |
|
1322.161 |
1054.528 |
|
|
|
|
|
|
TOTAL |
|
1475.133 |
1083.199 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
1459.386 |
0.000 |
|
|
Other Income |
|
65.732 |
2.683 |
|
|
TOTAL |
|
1525.118 |
2.683 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
1041.498 |
(233.125) |
|
|
Employee benefit expense |
|
166.993 |
54.791 |
|
|
Other expenses |
|
313.192 |
185.298 |
|
|
TOTAL |
|
1521.683 |
6.964 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
3.435 |
(4.281) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3.435 |
(4.281) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
6.743 |
0.330 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(3.308) |
(4.611) |
|
|
|
|
|
|
|
Less |
TAX |
|
39.632 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(42.940) |
(4.611) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
|
(0.81) |
(0.09) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
|
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
|
(55.414) |
474.353 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
|
(88.176) |
458.872 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
9.69 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
37.65 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
0.02 |
(0.87) |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
0.67 |
0.51 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
2.02 |
1.04 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
0.29 |
0.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
(2.94) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
(2.91) |
(0.43) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
(8.85) |
(0.87) |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
1.35 |
1.91 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
1.35 |
1.91 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
0.33 |
0.49 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
1.35 |
1.91 |
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 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
533.000 |
533.000 |
|
Reserves & Surplus |
(4.611) |
(47.551) |
|
Money received against share
warrants |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
|
Net
worth |
528.389 |
485.449 |
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Total
Income |
2.683 |
1525.118 |
|
|
|
56,743.757 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Total
Income |
2.683 |
1525.118 |
|
Profit |
(4.611) |
(42.940) |
|
|
(171.86%) |
(2.82%) |
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 |
No |
|
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 about one year
eight months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last about one year
eight months |
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 |
INDEX OF CHARGE: No Charges Exists for Company
GENERAL INFORMATION
Subject was incorporated on August 11, 2015, as joint venture ('JV') between "ALSTOM Transport SA, France" (95% shareholding) and "ALSTOM India Limited" (5% shareholding). W.e.f November 2, 2015, "Alstom India Limited" has became the subsidiary of "Alstom India Tracking BV" and its ultimate Holding Company has been changed to "General Electric Company, United States". Alstom India Limited's name has also been changed to GE Power India Limited subsequently.
Company was incorporated to execute an order received from "Dedicated Freight Corridor Corporation of India Limited" in relation to Design, Construction, Supply, Installation, Testing and Commissioning of 2X25KV Electrification, Signalling and Telecommunication and Associated Works of Double Track Railways Lines under construction on a design build lump sum basis for Bhaupur - Khurja Section (343 Kms) of Eastern Dedicated Freight Corridor.
BUSINESS OPERATIONS & FINANCIAL
PERFORMANCE
The Company was incorporated as a Special Purpose Vehicle Company (“SPVC”) to carry out the Civil Buildings, Power Supply, Overhead Electrification, Signaling and Telecommunications and Scada works in relation to the Ministry of Railways’ (Government of India) project of Eastern Dedicated Freight Corridor (EDFC) for Bhaupur-Khurja Section (343 KM) in the state of Uttar Pradesh, India. The said project has been initiated as per the integrated schedule with TATA JV and the expected completion could be around September 2019.
The Work consists of Station Buildings, Junction buildings, Crossing stations, ALH, Depots (IMD, IMSD), Traction substation, SP and SSP stations and Overhead Catenary system to power the India Railways Goods train.
The Company has deployed specialized Personnel in the Project having expertise and skills in the Railway system to handle critical Technical and functional requirements of the project.
The Company incurred a Net Loss of INR 42.940 Million for the year 2016-17 as compared to INR 461.100 Million for the year 2015-16. The Company would like to intimate that there has been a progress in the Revenue from the operations compared to the previous financial year and also there has been interest income from the unutilised funds.
FIXED ASSETS:
Tangible assets
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Leasehold improvements
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 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 66.02 |
|
|
1 |
INR 92.73 |
|
Euro |
1 |
INR 81.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KVT |
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.