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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

490164

Report Date :

08.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

AWP ASSISTANCE (INDIA) PRIVATE LIMITED (w.e.f. 07.04.2011)

 

 

Formerly Known As :

MONDIAL SERVICES (INDIA) PRIVATE LIMITED

 

 

Registered Office :

1st Floor, DLF Square, DLF City, Phase II, M - Block, Jacaranda Marg, Gurugram – 122002, Haryana

Tel. No.:

91-124-4343800

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

16.07.2007

 

 

Com. Reg. No.:

55- 041959

 

 

Capital Investment / Paid-up Capital :

INR 289.984 Million

 

 

CIN No.:

[Company Identification No.]

U63040HR2007PTC041959

 

 

IEC No.:

Not Divulged

 

 

GSTIN/UIN:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAFCM1460J

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :
  • Subject is engaged in the business of providing road side assistance for vehicles and related information and call centre services and also provides services of soliciting, procuring and marketing insurance products.

 

  • Wholesale and retail trade and repair of motor vehicles and motor cycles.

 

[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+

Low Risk

Business dealings permissible with low risk of default

 

Maximum Credit Limit :

USD 2300000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a wholly owned subsidiary of “Allianz Worldwide Partners SAS, France” and was incorporated in the year 2007.

 

For the financial year 2017, the company has increased its revenue from operation as compared to previous year and maintained decent profitability margin of 7.11%.

 

Rating takes into consideration sound financial profile of the company marked by healthy networth base and negligible debt balance sheet.

 

Further, rating also reflects from its strong holding company support and established track records of business operation along with improvement in its revenue profile during the year.

 

However, rating strength is partially offset by marginal declined in the profitability during the year.

 

Trade relations are reported as fair. Business is active. Payments terms are reported to be regular.

 

In view of the 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

(30.06.2017)

Current Rating

(30.09.2017)

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 08.02.2018

 

 

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

 

MANAGEMENT NON-COOPERATIVE (91-124-4343800)

 

LOCATIONS

 

Registered Office :

1st Floor, DLF Square, DLF City, Phase II, M - Block, Jacaranda Marg, Gurugram – 122002, Haryana, India

Tel. No.:

91-124-4343800

Fax No.:

91-124-4343900

E-Mail :

mansi.bhati@allianz.com

Website:

https://www.allianz-assistance.in

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Ashwin Juneja

Designation :

Wholetime Director

Address :

TG-1/20 Garden Estate, Opposite Guru Dwara, Gurugram – 122002, Haryana, India

Date of Birth/Age :

24.04.1970

Qualification:

Graduate

Date of Appointment :

30.06.2014

DIN No.:

06795679

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74900HR2012FTC044848

AWP SERVICES (INDIA) PRIVATE LIMITED

27/09/2014

-

 

 

Name :

Mr. Puneet Sachdeva

Designation :

Director

Address :

C-53/Z-4, Delshad Garden, Delhi -110095, India

Date of Birth/Age :

07.04.1974

Qualification:

Graduate

Date of Appointment :

27.06.2014

DIN No.:

02853227

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U63040HR2007PTC041959

AWP ASSISTANCE (INDIA) PRIVATE LIMITED

30/06/2014

-

U74900HR2012FTC044848

AWP SERVICES (INDIA) PRIVATE LIMITED

27/09/2014

-

 

 

KEY EXECUTIVES

 

Name :

Mrs. Mansi Bhati

Designation :

Company Secretary

Address :

328/12, Street No.10, Sector 7, Extension, Gurugram – 122001, Haryana, India

Date of Appointment :

13.06.2016

PAN No.:

AYLPB3169Q

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

 

No. of Shares

Allianz Worldwide Partners SAS, France

 

28998336

Puneet Sachdeva

 

1

Total

 

28998337

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2017

 

Category

Percentage

Public/Other than promoters - Body corporate

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :
  • Subject is engaged in the business of providing road side assistance for vehicles and related information and call centre services and also provides services of soliciting, procuring and marketing insurance products.

 

  • Wholesale and retail trade and repair of motor vehicles and motor cycles.

 

[Registered Activity]

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Wholesale and retail trade and repair of motor vehicles and motor cycles

45

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

 

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 :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Banker Name :

Not Divulged

Branch :

Not Divulged

Person Name (With Designation) :

--

Contact Number :

--

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

LONG TERM BORROWING

 

 

Loans taken for fixed assets

1.733

4.231

Total

1.733

4.231

 

 

Auditors :

 

Name :

B S R and Company LLP

Chartered Accountants

Address :

Building No-10, Tower B, 8th Floor, DLF Cyber City, Phase – II, Gurugram-122002, Haryana, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAAFB9852F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding company:
  • Allianz Worldwide Partners S.A.S, France (formerly known as Allianz Global Assistance S.A.S, France)

 

 

Fellow Subsidiary

company:
  • Mondial Assistance Services (Malaysia) Sdn Bhd, Malaysia
  • AWP Services Singapore Pte Limited (formerly known as Mondial Assistance (Asia) Pte Limited, Singapore)
  • AWP Services (India) Private Limited, India [U74900HR2012FTC044848]
  • AWP P&C S.A (formerly known as AGA International S.A. (FR 1730))
  • AWC SA Irish Branch (FR 1414)
  • Allianz Managed Operations and Services SE
  • Allianz Investment Management SE
  • Allianz Insurance Lanka Limited
  • A G A Services (Thailand) Co. Limited, Thailand
  • AGA Assistance Australia Pty Limited
  • AGA Assistance Japan Co. Limited
  • AGA Assistance Australia Pty Limited
  • AGA Assistance (Beijing) Co Limited
  • Allianz Global Assistance New Zealand Limited (Formerly known as Comprehensive Travel Insurance (2004) Company))

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30000000

Equity Shares

INR 10/- each

INR 300.000 Million

 

 

 

 

 

Issued Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

28998337

Equity Shares

INR 10/- each

INR 289.983 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

289.984

289.983

289.983

(b) Reserves & Surplus

528.496

453.734

394.818

(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)

818.480

743.717

684.801

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1.733

4.231

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

519.180

391.637

297.795

(d) long-term provisions

79.726

54.835

32.038

Total Non-current Liabilities (3)

600.639

450.703

329.833

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

317.344

185.263

113.456

(c) Other current liabilities

570.805

575.224

392.838

(d) Short-term provisions

0.671

0.520

0.334

Total Current Liabilities (4)

888.820

761.007

506.628

 

 

 

 

TOTAL

2307.939

1955.427

1521.262

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

40.991

33.897

27.220

(ii) Intangible Assets

3.540

1.864

2.423

(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)

69.199

52.147

31.974

(d)  Long-term Loan and Advances

153.776

150.556

96.025

(e) Other Non-current assets

0.790

0.789

0.000

Total Non-Current Assets

268.296

239.253

157.642

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

208.161

121.541

65.077

(d) Cash and cash equivalents

1551.115

1370.203

1209.653

(e) Short-term loans and advances

87.879

59.496

56.442

(f) Other current assets

192.488

164.934

32.448

Total Current Assets

2039.643

1716.174

1363.620

 

 

 

 

TOTAL

2307.939

1955.427

1521.262

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

1051.802

851.165

807.888

 

Other Income

83.021

80.476

110.708

 

TOTAL

1134.823

931.641

918.596

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

0.000

0.000

0.000

 

Employees benefits expense

342.715

271.679

232.450

 

CSR expenditure

0.000

0.000

3.846

 

Other expenses

665.932

489.308

411.457

 

TOTAL

1008.647

760.987

647.753

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

126.176

170.654

270.843

 

 

 

 

 

Less

FINANCIAL EXPENSES

0.345

0.074

0.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

125.831

170.580

270.843

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

12.489

10.368

9.572

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

113.342

160.212

261.271

 

 

 

 

 

Less

TAX

38.581

55.923

89.975

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

74.761

104.289

171.296

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

453.734

394.818

223.522

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Interim dividend (INR 1.30 per share (previous year - Re Nil per share))

0.000

37.698

0.000

 

Tax on dividend

0.000

7.675

0.000

 

Balance Carried to the B/S

528.495

453.734

394.818

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

47.100

35.460

27.522

 

TOTAL EARNINGS

47.100

35.460

27.522

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

2.58

3.60

5.91

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

0.000

0.000

0.000

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

 

 

Net cash flows from (used in) operations

263.370

349.644

426.004

 

 

 

 

Net cash flows from (used in) operating activities

131.681

147.953

154.295

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

72.24

52.12

29.40

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

5.05

7.00

12.41

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

0.00

0.00

0.00

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.00

0.00

0.00

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

2.83

4.77

9.14

 

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.39

0.39

0.33

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.00

0.01

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.09

1.02

0.74

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.05

0.05

0.04

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

365.73

2306.14

0.00

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

7.11

12.25

21.20

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

3.24

5.33

11.26

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

9.13

14.02

25.01

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

2.29

2.26

2.69

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

2.29

2.26

2.69

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.35

0.38

0.45

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.01

0.01

0.00

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

2.29

2.26

2.69

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

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Share Capital

289.983

289.983

289.984

Reserves & Surplus

394.818

453.734

528.496

Share Application money pending allotment

0.000

0.000

0.000

Net worth

684.801

743.717

818.480

 

 

 

 

Long Term borrowings

0.000

4.231

1.733

Short Term borrowings

0.000

0.000

0.000

Current Maturities of Long term debt

0.000

0.000

0.000

Total borrowings

0.000

4.231

1.733

Debt/Equity ratio

0.000

0.006

0.002

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Sales

807.888

851.165

1051.802

 

 

5.357

23.572

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Sales

807.888

851.165

1051.802

Profit

171.296

104.289

74.761

 

21.20%

12.25%

7.11%

 

 

 

 

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

No

8

Designation of contact person

No

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

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

No

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

 

 

INDEX OF CHARGE: No Charges Exists for Company

 

 

 

BACKGROUND

 

Subject was incorporated on 16 July 2007. It is a subsidiary of Allianz Worldwide Partners S.A.S., France (formerly known as Allianz Global Assistance S.A.S, France). Theultimate holding Company is Allianz SE Germany. The Company is engaged in the business of providing road side assistance for vehicles and related information and call centre services. The Company also provides services of soliciting, procuring and marketing insurance products on behalf of an insurance company under Corporate Agency Agreement. The Company got its name changed from AGA Assistance (India) Private Limited to AWP Assistance (India) Private Limited on 18 May 2016.

 

FIXED ASSETS:

 

Tangible assets

 

  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer equipments
  • Leasehold improvements

 

Intangible assets

 

  • Computer software

 

 

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 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 64.14

UK Pound

1

INR 89.50

Euro

1

INR 79.43

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHL

 

 

Analysis Done by :

PSD

 

 

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

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)

 

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.