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MIRA INFORM REPORT
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Report
No. : |
506616 |
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Report
Date : |
27.04.2018 |
IDENTIFICATION DETAILS
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Name : |
GABBAR
ENGINEERING COMPANY |
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Registered Office : |
Plot
No. 1903, Phase - III, “F” Road, Opposite Kalupur Commercial Bank, G.I.D.C
Industrial Estate, Vatva, Ahmedabad – 382445, Gujarat |
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Tel. No.: |
91-79-25830971/25892277 |
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Country : |
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Financials (as on) : |
31.03.2018 |
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Year of Establishment : |
1973 |
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Capital Investment / Paid-up Capital : |
Not
Divulged |
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IEC No.: [Import-Export Code No.] |
0893014664 |
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TIN No.: |
24075701418 |
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CST No.: |
24575701418 |
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GSTN : [Goods & Service Tax Registration No.] |
24AAAFG7338R1ZY |
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PAN No.: [Permanent Account No.] |
AAAFG7338R |
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Legal Form : |
Partnership
Concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer
and Exporter of Portable Heavy Duty Bag Closing Machine, High Speed- Sturdy-
Rigid- Efficient. Exporter of finished goods. Importer of Raw Material.
(Confirmed by Management) |
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No. of Employees : |
68(Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s
Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Status
: |
Satisfactory
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Payment
Behaviour : |
Usually
correct |
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Litigation
: |
Clear
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Comments
: |
Subject
is an established partnership concern started in the year 1973 having
satisfactory track. The
concern has achieved decent revenue of INR 220.000 million during FY 2018.
However, revenues figures could not be verified. Rating
takes into consideration concern’s long established track record of business
operation along with good revenue profile. Trade
relations are reported as fair. Business is active. Payments terms are seems
to be usually correct and as per commitments. The
concern can be considered normal 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) |
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India |
A1 |
A1 |
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Risk
Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating
Agency Name |
Not
Available |
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Rating |
Not
Available |
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Rating
Explanation |
Not
Available |
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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 28.04.2018
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
: |
Mr.
Umesh Kumar J. Panchal |
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Designation
: |
Partner |
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Contact
No.: |
91-9824062000 |
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Date
: |
27.04.2018 |
LOCATIONS
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Registered
Office/ Factory : |
Plot
No. 1903, Phase - III, “F” Road, Opposite Kalupur Commercial Bank, G.I.D.C
Industrial Estate, Vatva, Ahmedabad – 382445, Gujarat, India |
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Tel.
No.: |
91-79-25830971/25891657 |
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Mobile
No.: |
91-9824062000
(Mr. Umesh Kumar J. Panchal) |
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Fax
No.: |
91-79-25832000/25892277 |
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E-Mail
: |
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Website
: |
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Area: |
2500
Sq. Ft. |
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Location : |
Owned |
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Locality : |
Industrial |
PARTNERS
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Name
: |
Mr.
Umesh Kumar J. Panchal |
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Designation
: |
Partner |
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Address
: |
16,
Revera, 30 Bunglow, Behind Kirno Motors, Prahladnagar, Ahmedabad, Gujarat,
India |
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Qualification
: |
B.E.
Mechanical |
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Name
: |
Ms.
Bhargaviben M. Panchal |
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Designation
: |
Partner |
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Address
: |
22
- C, Pavitranagar Tenament, Opposite Cadila Laboratory, Ghodsar, Ahmedabad,
Gujarat, India |
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Qualification
: |
B.Com |
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Name
: |
Ms.
Taralben J. Panchal |
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Designation
: |
Partner |
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Address
: |
12,
Radhe Kishan Bunglow, Near Reliance Fresh, Anandwadi, Isanpur, Ahmedabad,
Gujarat, India |
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Qualification
: |
Home
Science |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
and Exporter of Portable Heavy Duty Bag Closing Machine, High Speed- Sturdy-
Rigid- Efficient. Exporter of finished goods. Importer of Raw Material.
(Confirmed by Management) |
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Products
: |
·
Woven Sack Sewing Machine
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Brand
Names : |
“Gabbar“ |
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Agencies
Held : |
Not
Available |
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Exports
: |
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Products : |
Finished
Goods |
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Countries : |
·
Dubai
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Imports
: |
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Products : |
Raw
Material |
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Countries : |
Taiwan
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Terms
: |
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Selling : |
Cash,
Cheque and Credit (30 days) |
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Purchasing : |
Cash,
Cheque and Credit (30 days) |
GENERAL INFORMATION
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Suppliers
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Customers
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End
Users
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No.
of Employees : |
68
(Approximately) |
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Bankers
: |
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Auditors
: |
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Name : |
P.
Doshi and Associates Chartered Accountants |
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Address : |
Ashram
Road, Ahmedabad, Gujarat, India |
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Collaborators
: |
Not
Available |
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Membership
: |
Not
Available |
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Sister
Concern : |
Ashtech Engineer Address: 2007, Phase – 3, GIDC, Vatva GIDC,
Ahmedabad, Gujarat, India |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Not
Divulged |
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Borrowed : |
-- |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
INRMillion]
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
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Sales
Turnover (Approximately) |
220.000 |
200.000 |
180.000 |
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(Due to Business Growth) |
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Expected Sales (2018-2019): INR250.000 Million
The above information has been parted by Mr.Umesh Kumar J. Panchal
(Partner)
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or Registry
Records.
FINANCIAL ANALYSIS
[all figures are
INR Million]
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
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|
INR In Million |
INR In Million |
INR In Million |
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Sales Turnover (Approximately) |
180.000 |
200.000 |
220.000 |
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11.111 |
10.000 |
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check list by info agents |
Available in Report
(Yes/No) |
|
1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
Yes |
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5 |
Buyer visit details |
-- |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
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8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
Yes |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
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11 |
Pan Card No. of Proprietor / Partners |
No |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
Yes |
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16 |
No. of employees |
Yes |
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17 |
Details of sister concerns |
Yes |
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18 |
Major suppliers |
Yes |
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19 |
Major customers |
Yes |
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20 |
Banking Details |
Yes |
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21 |
Banking facility details |
No |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
Yes |
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24 |
Capital in the business |
No |
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25 |
Last accounts filed at ROC, if applicable |
No |
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26 |
Turnover of firm for last three years |
Yes |
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27 |
Reasons for variation <> 20% |
-- |
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28 |
Estimation for coming financial year |
Yes |
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29 |
Profitability for last three years |
No |
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30 |
Major shareholders, if available |
No |
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31 |
External Agency Rating, if available |
No |
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32 |
Litigations that the firm/promoter involved
in |
-- |
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33 |
Market information |
-- |
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34 |
Payments terms |
Yes |
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35 |
Negative Reporting by Auditors in the
Annual Report |
No |
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 records 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
66.78 |
|
|
1 |
INR
92.89 |
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Euro |
1 |
INR
80.74 |
INFORMATION DETAILS
|
Information Gathered by : |
RBY
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Analysis Done by : |
DIV |
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Report Prepared by : |
MTN |
SCORE FACTORS
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DEMERIT
POINTS |
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--BANK
CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT
POINTS |
|
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--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
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--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 |
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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 |
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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.