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|
MIRA INFORM REPORT
|
Report No. : |
492279 |
|
Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ADANI INSTITUTE FOR EDUCATION AND RESEARCH |
|
|
|
|
Registered
Office : |
Adani House, Near Mithakhali Six Roads Navrangpura,
Ahmedabad – 380009, Gujarat |
|
Tel. No.: |
91-79-25558607 |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
12.12.2014 |
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|
|
|
Com. Reg. No.: |
04-081534 |
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Capital
Investment / Paid-up Capital : |
INR 0.500 Million |
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CIN No.: [Company Identification
No.] |
U80903GJ2014NPL081534
|
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|
IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTIN : |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AANCA0722H |
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Legal Form : |
Non-Profit Organisation |
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Line of Business
: |
Providing Higher education in engineering and management courses leading
to a university degree or equivalent. (Registered activity) |
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No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Adani Institute for Education and Research (AIER), guided by
infrastructure visionary of Shri Guatam Adani, established in the year 2014
under section 8 of the companies act 2013. For the financial year 2017, AIER has achieved top line growth in its
revenue as compared to its previous year along with improved profitability
during the year. Further, rating factors from subject’s strong focus on youth education
and infrastructure education. Rating continue to derive strength, the healthy managerial support
from “Adani Group”. However, rating gets partially offset by AIER negative reserve level
due to previous year losses which has resulted into erosion of net worth. Payments seems to be slow but correct. In view of aforesaid, AIER 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
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 16.02.2018.
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 (Tel. No.: 91-79-25556870)
Tel. No.: 91-79-25558607 / 606 is continuously ringing.
91-79-25555684
number belongs to Group Company.
LOCATIONS
|
Registered Office : |
Adani House, Near Mithakhali Six Roads Navrangpura,
Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-25558607 / 25555684 |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Institute Office : |
Shantigram Township, Near Vaishnodevi Circle, SG Highway, Ahmedabad –
382421, Gujarat, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Gautambhai Shantilal Adani |
|
Designation : |
Director |
|
Address : |
Shantivan Farm, Behind Karnavati Club, Gandhiangar,
Sarekhej Highway, Ahmedabad – 380057, Gujarat, India |
|
Date of Birth/Age : |
24.06.1962 |
|
Date of Appointment : |
12.12.2014 |
|
DIN No.: |
00006273 |
|
|
|
|
Name : |
Mr. Rajesh Shantilal Adani |
|
Designation : |
Director |
|
Address : |
Shanti Sagar Bunglow, Rajpath Club to Bopal Road Near
Kantam Party Plot Cross Road, Bodak dev Ahmedabad 380059 GJ IN |
|
Date of Birth/Age : |
07.12.1964 |
|
Date of Appointment : |
12.12.2014 |
|
DIN No.: |
00006322 |
|
|
|
|
Name : |
Mr. Pritiben Gautambhai Adani |
|
Designation : |
Director |
|
Address : |
'Shantivan' Behind Karnavati Club, Gandhinagar Sarkhej
Highway, Ahmedabad – 380058, Gujarat, India |
|
Date of Birth/Age : |
29.08.1965 |
|
Date of Appointment : |
12.12.2014 |
|
DIN No.: |
00008428 |
|
|
|
|
Name : |
Mr. Malay Ramesh Mahadevia |
|
Designation : |
Director |
|
Address : |
12-B, Gyankunj Society, Opposite St. Xavier's College, Navrangpura,
Ahmedabad – 380009, Gujarat, India |
|
Date of Birth/Age : |
03.05.1963 |
|
Date of Appointment : |
12.12.2014 |
|
DIN No.: |
00064110 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Gautam Adani |
|
25000 |
|
Priti Adani |
|
25000 |
|
|
|
|
|
Total |
|
50000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Higher education in engineering and management courses
leading to a university degree or equivalent. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Auditors : |
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Name : |
Dharmesh Parikh and Company Chartered Accountants |
|
Address : |
303/304, Milestone, Near Drive-in-cinema, Opp. T.V. Tower, Thaltej,
Ahmedabad – 380054, Gujarat, India |
|
Tel. No.: |
91-79-27474466 |
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Fax No.: |
91-79-27479955 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAGFD1279G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Entities in which Key management personnel have significant influence
: |
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CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 10/- each |
INR 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 10/- each |
INR 0.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.500 |
0.500 |
0.500 |
|
(b) Reserves &
Surplus |
(25.742) |
(33.247) |
(3.245) |
|
(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) |
(25.242) |
(32.747) |
(2.745) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.532 |
0.236 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.532 |
0.236 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1.000 |
0.000 |
6.000 |
|
(b) Trade payables |
26.590 |
9.082 |
5.188 |
|
(c) Other current
liabilities |
37.781 |
46.623 |
0.128 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
65.371 |
55.705 |
11.316 |
|
|
|
|
|
|
TOTAL |
40.661 |
23.194 |
8.571 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
23.094 |
14.900 |
5.687 |
|
(ii) Intangible Assets |
6.616 |
1.238 |
0.492 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.062 |
5.042 |
0.244 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
36.772 |
21.180 |
6.423 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
0.963 |
1.432 |
1.116 |
|
(e) Short-term loans and
advances |
0.329 |
0.582 |
1.032 |
|
(f) Other current assets |
2.597 |
0.000 |
0.000 |
|
Total Current Assets |
3.889 |
2.014 |
2.148 |
|
|
|
|
|
|
TOTAL |
40.661 |
23.194 |
8.571 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
69.666 |
26.103 |
0.000 |
|
|
Other Income |
25.929 |
0.227 |
0.000 |
|
|
TOTAL |
95.595 |
26.330 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
36.844 |
20.517 |
0.000 |
|
|
Other expenses |
45.341 |
32.818 |
3.138 |
|
|
TOTAL |
82.185 |
53.335 |
3.138 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
13.410 |
(27.005) |
(3.138) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.013 |
0.621 |
0.056 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
13.397 |
(27.626) |
(3.194) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
|
5.892 |
2.376 |
0.051 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
7.505 |
(30.002) |
(3.245) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
7.505 |
(30.002) |
(3.245) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
150.09 |
(600.05) |
(215.34) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
17.958 |
18.628 |
0.847 |
|
Net cash flow from operating activity |
17.995 |
18.650 |
(6.231) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
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) |
0.45 |
(1.67) |
(0.51) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
1.62 |
2.41 |
1.32 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(0.06) |
(0.01) |
(2.19) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
(2.59) |
(1.70) |
(4.12) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(1.18) |
(0.49) |
(2.25) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1031.54 |
(43.49) |
(56.04) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
10.77 |
(114.94) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
18.46 |
(129.35) |
(37.86) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(29.73) |
91.62 |
118.21 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.06 |
0.04 |
0.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.06 |
0.04 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
(0.62) |
(1.41) |
(0.32) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.06 |
0.47 |
12.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.06 |
0.04 |
0.19 |
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 |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
(3.245) |
(33.247) |
(25.742) |
|
Net worth |
(2.745) |
(32.747) |
(25.242) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
6.000 |
0.000 |
1.000 |
|
Total borrowings |
6.000 |
0.000 |
1.000 |
|
Debt/Equity ratio |
(2.186) |
0.000 |
(0.040) |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
|
Sales |
26.103 |
69.666 |
|
|
|
166.889 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
|
Sales |
26.103 |
69.666 |
|
Profit/(Loss) |
(30.002) |
7.505 |
|
|
(114.94%) |
10.77% |
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 |
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 two 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 |
CORPORATE INFORMATION
Subject is not for profit company, within the
mearing of section 8 of the companies act, 2013 (earlier section 25 of the
companies act, 1956) was incorporated with charitable objects on 12th
December 2014 vide company registration no. U80903GJ2014NPL081534 and after
approval of all India Council of Technical Education (AICTE) has started
education activities related to the company having registration no.
AANCA0722H/01/14-15/C-0049 dtd.24.04.2015 u/s 12AA of Income Tax act 1961
issued by the Principal Commissioner of Income Tax (OSD) (Exemptions),
Ahmedabad and also registered under u/s
80(G) vide permission no. AANCA0722H/135/15-16/T-0564/80G(5) dated 21.12.2015
issued by commissioner of income tax (exemptions), Ahmedabad.
FINANCIAL HIGHLIGHTS
During the year, the company earned total
revenue of INR 95.595 Million and incurred expenditure of INR 88.090 Million
and therefore surplus for the year was INR 7.505 Million against deficit INR
30.002 Million in the previous financial year.
There are no material changes and commitments
affecting the financial position of the company between the end of the
financial year and the date of this report.
OPERATIONAL PERFORMANCE / STATE OF COMPANIES AFFAIRS:
During the year, as stated above, the company
has made a surplus of INR 7.505 Million as against deficit of (INR 30.002
Million) in the previous financial year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Inter corporate deposit |
1.000 |
0.000 |
|
|
|
|
|
Total |
1.000 |
0.000 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
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 63.92 |
|
|
1 |
INR 89.55 |
|
Euro |
1 |
INR 79.86 |
INFORMATION DETAILS
|
Information Gathered
by : |
SUP |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
JYO |
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.