MIRA INFORM REPORT

Report No. :	504832
Report Date :	23.04.2018

IDENTIFICATION DETAILS

Name :	KAPOOR IMAGING PRIVATE LIMITED
Registered Office :	New No.6, Old No.9, Third Street, Balaji Nagar, Royapettah, Chennai – 600014, Tamilnadu
Tel. No.:	91-44-43471000
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	19.03.1996
Com. Reg. No.:	18- 034858
Capital Investment / Paid-up Capital :	INR 90.573 Million
CIN No.: [Company Identification No.]	U29309TN1996PTC034858
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	33AABCK5209P1ZE
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCK5209P
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of printing materials, ie; graphic art films, printing inks, printing plates, Rubber Blankets and printing chemicals. [Registered activity] Manufacturer, trader and exporter of printing plates, Fujifilm etc., and importer of raw material. [Confirmed by management]
No. of Employees :	120 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd 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 1300000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1996 having satisfactory track record. For the financial year ended 2017, revenue of the company has marginally declined and has reported profile margin at 1.18% (approx.) The company possesses sound financial profile marked by healthy net worth base along with low debt level and favourable gap between trade payables to its trade receivables. The company also derives strength from its long standing track record of business operation. Trade relations are reported as fair. Business is active. Payment terms are seems to be usually correct. 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

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 PARTED BY

Name :	Mrs. Humera
Designation :	Purchase Department
Contact No.:	91-44-43471000
Date :	21.04.2018

LOCATIONS

Registered Office :	New No.6, Old No.9, Third Street, Balaji Nagar, Royapettah, Chennai – 600014, Tamilnadu, India
Tel. No.:	91-44-43471000/28132466
Mobile No.:	91-9884030564 (Sharan Kapoor)
Fax No.:	91-44-28132493
E-Mail :	sk@kapoorimaging.com
Website :	http://www.kapoorimaging.com
Location :	Owned
Corporate Office :	#3, Masilamani Road, Balaji Nagar, Royapettah, Chennai - 600 014, Tamil Nadu, India
Tel. No.:	91-44-43471000
Fax No.:	91-44-43471003
Area :	30,000 Sq.Ft

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Sunil Kapoor

Designation :

Managing Director

Address :

Old No.32, New No.74 Giri Road, T. Nagar, Chennai – 600017, Tamilnadu, India

Date of Birth/Age :

31.10.1959

Qualification:

B.Com

Date of Appointment :

19.03.1996

DIN No.:

00343695

PAN No.:

AADPK0041L

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74990TN2011PTC080650	APOLLO POLYVINYL PRIVATE LIMITED	17/05/2011	-
U72900TN2016PTC104219	TOPAZ DIGITAL PRIVATE LIMITED	18/02/2016	-

Name :

Mrs. Anita Kapoor

Designation :

Director

Address :

74 Giri Road, T. Nagar, Chennai - 600017, Tamilnadu, India

Date of Birth/Age :

28.08.1963

Qualification:

Graduation

Date of Appointment :

30.09.2015

DIN No.:

02370738

PAN No.:

AAFPK0048P

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U72900TN2016PTC104219	TOPAZ DIGITAL PRIVATE LIMITED	18/02/2016	-

KEY EXECUTIVES

Name :	Mrs. Humera
Designation :	Purchase Department

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares
Sunil Kapoor	269498
Anita Kapoor	167831
Reeva Securities and Investment Private Limited	20000
Rahul Bajaj	12950
Vijay Kumar Sethi	2171
Knitworth Lease Finance Limited	5000
Cyndrella Tie-Up (Private) Limited, India	9200
Ideal Motor Finance (Private) Limited, India	5000
PNC Capital Trust Limited	3000
R M Mehra (Private) Limited, India	2500
Travellers Hotel (Private) Limited, India	2800
PRJ Finance (Private) Limited, India	2500
Ardhi Vanijya (Private) Limited, India	5000
Mahadev Pneumatics Trading Co. (Private) Limited, India	5000
Fareast Distributors (Private) Limited, India	2500
Paritoshik Tie-Up (Private) Limited, India	2500
Ramesh Shroff	4000
Sharan Kapoor	80000
Varun Kapoor	80000
Callisto Opportunity Limited	224280
Total	905730

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2017

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	65.95
Public/Other than promoters- Individual/Hindu Undivided Family- Indian	0.68
Public/Other than promoters- Individual/Hindu Undivided Family - Non-resident Indian (NRI)	1.43
Public/Other than promoters- Body corporate	31.94
Total	100.00

BUSINESS DETAILS

Line of Business :

• Trading of printing materials, ie; graphic art films, printing inks, printing plates, Rubber Blankets and printing chemicals. [Registered activity]

• Manufacturer, trader and exporter of printing plates, Fujifilm etc., and importer of raw material. [Confirmed by management]

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Trading of printing materials such as graphic art films, printing inks, printing plates and chemicals and rubber blankets.	46909

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

• Uganda
• United States of America

Imports :

Products :

Raw material

Countries :

• China
• Japan
• Korea

Terms :

Selling :

Advance Payment, L/C and Cheque

Purchasing :

Advance Payment, L/C and Cheque

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Wholesalers, Retailers and Manufacturer

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

120 (Approximately)

Bankers :

Banker Name :	Standard Chartered Bank
Branch :	Grindlays Centre, 19 Rajaji Salai, Chennai – 600001, Tamilnadu, India
Person Name (With Designation) :	--
Contact Number :	91-44-28564014 (Continuously ringing)
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017	As on 31.03.2016
SHORT TERM BORROWING
Rupee term loans from banks	151.648	151.811
Rupee term loans from others	1.755	3.284
Total	153.403	155.095

Auditors :
Name :	Ramraj and Company Chartered Accountants
Address :	Plot No.70, Dr. Gurunath Street, Panner Nagar II, Mogappair, Chennai, Tamilnadu, India
PAN N Income-tax PAN of auditor or auditor's firm :	AABFR3927Q
Memberships :	Not Available
Collaborators :	Not Available
Other related party :	Apollo Polyvinyl Private Limited, India [U74990TN2011PTC080650]

CAPITAL STRUCTURE

AS ON 30.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
1300000	Equity Shares	INR 100/- each	INR 130.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
905730	Equity Shares	INR 100/- each	INR 90.573 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	90.573	90.573	68.145
(b) Reserves and Surplus	357.128	344.671	217.358
(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)	447.701	435.244	285.503
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	1.935	2.163	2.227
(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)	1.935	2.163	2.227
(4) Current Liabilities
(a) Short-term borrowings	153.665	158.839	161.246
(b) Trade payables	195.831	220.508	186.336
(c) Other current liabilities	16.614	15.886	15.219
(d) Short-term provisions	30.020	18.392	22.174
Total Current Liabilities (4)	396.130	413.625	384.975
TOTAL	845.766	851.032	672.705
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	134.083	118.434	81.884
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Tangible assets 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)	0.000	0.000	0.000
(d) Long-term loans and advances	1.519	1.639	1.734
(e) Other Non-current assets	6.069	7.919	7.308
Total Non-Current Assets	141.671	127.992	90.926
(2) Current assets
(a) Current investments	17.346	29.867	15.874
(b) Inventories	265.435	286.545	213.011
(c) Trade receivables	304.624	300.001	277.419
(d) Cash and bank balances	8.988	8.252	16.475
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	107.702	98.375	59.000
Total Current Assets	704.095	723.040	581.779
TOTAL	845.766	851.032	672.705

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	1059.450	1120.188	1006.706
	Other Income	22.669	16.917	17.029
	TOTAL	1082.119	1137.105	1023.735
Less	EXPENSES
	Cost of Materials Consumed	896.205	947.899	867.932
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000	0.000	0.000
	Employee benefit expense	67.165	59.328	43.517
	Other expenses	72.384	80.818	64.297
	Exceptional items	0.000	0.000	(0.225)
	TOTAL	1035.754	1088.045	975.521
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	46.365	49.060	48.214
Less	FINANCIAL EXPENSES	21.027	19.987	20.385
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	25.338	29.073	27.829
Less/ Add	DEPRECIATION/ AMORTISATION	5.720	5.024	5.195
	PROFIT/ (LOSS) BEFORE TAX	19.618	24.049	22.634
Less	TAX	7.161	8.127	8.415
	PROFIT/ (LOSS) AFTER TAX	12.457	15.922	14.219
	Earnings / (Loss) Per Share (INR)	13.75	17.58	15.70

Particulars	31.03.2018
Sales Turnover (Approximately)	1100.000 (Due to market fluctuation)

The above information has been parted by Mrs. Humera (Purchase Deparmtent)

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	NA	NA	NA
Net cash flows from (used in) operations	18.538	(72.138)	36.994
Net cash flows from (used in) operating activities	18.538	(72.138)	28.819

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	104.95	97.75	100.58
Account Receivables Turnover (Income / Sundry Debtors)	3.48	3.73	3.63
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	79.76	84.91	78.36
Inventory Turnover (Operating Income / Inventories)	0.17	0.17	0.23
Asset Turnover (Operating Income / Net Fixed Assets)	0.35	0.41	0.59

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.47	0.49	0.57
Debt Equity Ratio (Total Liability / Networth)	0.34	0.36	0.56
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.88	0.95	1.35
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.30	0.27	0.29
Interest Coverage Ratio (PBIT / Financial Charges)	2.21	2.45	2.37

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	1.18	1.42	1.41
Return on Total Assets ((PAT / Total Assets) * 100)	%	1.47	1.87	2.11
Return on Investment (ROI) ((PAT / Networth) * 100)	%	2.78	3.66	4.98

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.78	1.75	1.51
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.11	1.06	0.96
G-Score Ratio Financial (Networth / Total Assets)	0.53	0.51	0.42
G-Score Ratio Debt (Debts / Equity Capital)	1.70	1.75	2.37
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.78	1.75	1.51

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	68.145	90.573	90.573
Reserves & Surplus	217.358	344.671	357.128
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	285.503	435.244	447.701
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	161.246	158.839	153.665
Total borrowings	161.246	158.839	153.665
Debt/Equity ratio	0.565	0.365	0.343

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	1006.706	1120.188	1059.450
		11.273	(5.422)

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	1006.706	1120.188	1059.450
Profit/ (Loss)	14.219	15.922	12.457
	1.41 %	1.42 %	1.18 %

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	Yes
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	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)	Yes
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	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 four years	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	Litigations that the firm/promoter involved in	--
32	Market information	--
33	Payments terms	Yes
34	Negative Reporting by Auditors in the Annual Report	No

OPERATIONS & STATE OF COMPANY’S AFFAIRS:

Income during the year is showing a slight decrease as compared to the previous year. The net profit of the Company is also decreased as compared with previous year and the company expects to improve its performance during the current financial year with the expansion of business activities and the services to more clients and to achieve better financial results in the ensuing financial year.

UNSECURED LOANS:

(INR In Million)

Particulars	As on 31.03.2017	As on 31.03.2016
SHORT TERM BORROWING
Loans and advances from directors	0.262	3.744
Total	0.262	3.744

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G42062158	100075626	STATE BANK OF INDIA	12/01/2017	16/03/2017	-	435000000.0	LEATHER & INTERNATIONAL BANK, MVJ TOWERS,177/1, POONAMALLEE HIGH ROAD, KILPAUK,CHENNAITN600010IN
2	G42061317	100075625	STATE BANK OF INDIA	12/01/2017	16/03/2017	-	595000000.0	LEATHER & INTERNATIONAL BANK, MVJ TOWERS,177/1, POONAMALLEE HIGH ROAD, KILPAUK,CHENNAITN600010IN
3	G34432013	100074280	STATE BANK OF INDIA	14/10/2016	-	-	50000000.0	LEATHER & INTERNATIONAL BANK, MVJ TOWERS,177/1, POONAMALLEE HIGH ROAD, KILPAUK,CHENNAITN600010IN
4	C79485157	10028819	STANDARD CHARTERED BANK	18/12/2006	04/01/2016	-	280000000.0	1ST FLOOR, HADDOWS ROADNUNGAMBAKKAMCHENNAITN600034IN
5	Y10417818	90294891	CITICORP FINANCE (INDIA) LTD	01/06/2002	-	-	407000.0	1ST FLOOR; ANGSON CENTER153; GREAMS ROAD THOUSAND LIGHTSCHENNAITN600006IN
6	B95659322	90292908	BHARAT OVERSEAS BANK LIMITED	20/10/2000	25/11/2002	30/01/2014	15000000.0	CHENNAI MAIN BRANCH CATHEDIAL ROADCHENNAITN630086IN

FIXED ASSETS:

Tangible assets

• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments

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 66.02
UK Pound	1	INR 92.73
Euro	1	INR 81.46

INFORMATION DETAILS

Information Gathered by :	ARC
Analysis Done by :	DIV
Report Prepared by :	KVT

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	YES
--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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.