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MIRA INFORM REPORT
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Report No. : |
492521 |
|
Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
JAYASHREE TRADERS |
|
|
|
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Registered
Office : |
No. 10, Raitha Bhavan APMC Yard, Yeshawanthpur, Bangalore-560027,
Karnataka |
|
Mobile No.: |
91-80-23478233 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Year of
Establishment : |
1983 |
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Capital
Investment : |
INR 45.851 Million |
|
|
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IEC No.: |
Not Divulged |
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|
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GST No.: |
29ACQPV3450P1ZJ |
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TIN No.: |
Not Divulged |
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PAN No.: [Permanent Account No.] |
ACQPV3450P |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business
: |
Trader of Poultry Feed. [Confirmed by Management] |
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No. of Employees
: |
10 [Approximately] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 131000 [INR 8477665.00] |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a proprietorship concern established in the year 1983 and it is a trader
of poultry feed. Mr. Shiv
Kumar (Manager) has provided general information but he denied to disclose any
financial information about the subject. As per
available balance sheet statement, the subject reported capable financial
risk profile. Rating is
constrained on account of subject’s absence of Profit and Loss Statement
along with average liquidity position and unfavourable gap between in its
trade payables to its trade receivables. Payment
seems to be slow but correct. In view
of aforesaid, the subject can be considered for business dealings with some
caution. NOTE: Site
visit was conducted on the given address which you have provided. Our
executive has successfully traced the subject at the given address. At the
premises, our executive met Mr. Shiv Kumar (Manager) and he provided his
contact details (08088179798). As per
our executive’s observation, it is a 3 storey building and subject situated
on ground floor. Area of the premises is 250 SQ FT and 9 employees were
sighted at the given address. Location is easy to find and locality seems to
be commercial. Area seems to be upmarket. Landmark-
Near Raith Bhavan, Metro Yashwanthpur. During
the visit, our executive met Mr. Sri Kumar from neighbour company (Sri Kumar
Traders) and he confirmed that the subject exists on the given address. Name
board of the subject was sighted at the given address. |
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 |
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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 |
|
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 27.02.2018.
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Shiv
Kumar |
|
Designation : |
Manager |
|
Contact No.: |
91-8088179798 |
|
Date : |
25.02.2018 |
[Given number 91-9845783478 is ringing]
LOCATIONS
|
Registered Office : |
No. 10, Raitha Bhavan APMC Yard, Yeshawanthpur, Bangalore-560027,
Karnataka, India |
|
Tel. No.: |
91-80-23478233 |
|
Mobile No.: |
91-8088179798 [Mr. Shiv Kumar] |
|
Fax No.: |
Not Available |
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Area : |
250 Sq. Ft. |
|
Location : |
Owned |
|
Locality : |
Commercial |
|
Name : |
Ms. Vemala Vishwanath |
|
Designation : |
Proprietor |
|
PAN No.: |
ACQPV3450P |
KEY EXECUTIVES
|
Name : |
Mr. Shiv
Kumar |
|
Designation : |
Manager |
BUSINESS DETAILS
|
Line of Business : |
Trader of Poultry Feed. [Confirmed by Management] |
|
|
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|
Products/ Services : |
Poultry
Feed |
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|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
10 [Approximately] |
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Bankers : |
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Auditors : |
Not Divulged |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
CAPITAL
ACCOUNT AS ON 31.03.2017
|
PARTICULARS |
INR IN MILLION |
|
Income Tax Refund A.Y: 2016-17 |
0.000 |
|
Rent Received |
0.981 |
|
V. Vishwanath |
30.394 |
|
Net Profit for the Year |
14.519 |
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|
|
|
|
----------- |
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Total |
45.894 |
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Less: Property Tax BBMP |
0.043 |
|
|
----------- |
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Total |
45.851 |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor Capital Account |
|
45.851 |
46.000 |
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|
2] Reserves & Surplus |
|
0.000 |
0.000 |
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NETWORTH |
|
45.851 |
46.000 |
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LOAN FUNDS |
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|
|
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1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
52.564 |
46.138 |
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TOTAL BORROWING |
|
52.564 |
46.138 |
|
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
98.415 |
92.138 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
12.677 |
24.897 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
|
0.486
|
1.023 |
|
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Sundry Debtors |
|
58.853
|
75.403 |
|
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Cash & Bank Balances |
|
4.657
|
3.078 |
|
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Other Current Assets |
|
29.269
|
9.577 |
|
|
Loans & Advances |
|
0.034
|
0.000 |
|
Total
Current Assets |
|
93.299
|
89.081 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
|
5.718
|
19.246 |
|
|
Other Current Liabilities |
|
1.627
|
2.295 |
|
|
Provisions |
|
0.216
|
0.299 |
|
Total
Current Liabilities |
|
7.561
|
21.840 |
|
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Net Current Assets |
|
85.738
|
67.241 |
|
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
98.415 |
92.138 |
|
NOTE: PROFIT & LOSS IS NOT AVAILABLE
KEY
RATIOS
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
|
0.57 |
0.60 |
|
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Debt Equity Ratio (Total Liability / Networth) |
|
1.15 |
1.00 |
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Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
1.31 |
1.48 |
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Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
0.28 |
0.54 |
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Interest Coverage Ratio (PBIT / Financial Charges) |
|
0.00 |
0.00 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
1.55 |
1.31 |
|
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Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
1.54 |
1.30 |
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G-Score Ratio Financial (Networth / Total Assets) |
|
0.43 |
0.40 |
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G-Score Ratio Debt (Debts / Equity Capital) |
|
1.15 |
1.00 |
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G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
1.55 |
1.31 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Proprietor Capital |
46.000 |
45.851 |
|
Reserves & Surplus |
0.000 |
0.000 |
|
Net
worth |
46.000 |
45.851 |
|
Secured Loans |
0.000 |
0.000 |
|
Unsecured Loans |
46.138 |
52.564 |
|
Total
borrowings |
46.138 |
52.564 |
|
Debt/Equity
ratio |
1.003 |
1.146 |
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 |
Yes |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 three years |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
No |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OBSERVATION POINTS
|
Name of Company : |
JAYASHREE TRADERS |
|
|
|
|
Address : |
N 10, Raitha Bhavan APMC Yard, Yeshawanthpur, Bangalore-560027,
Karnataka, India |
|
Contact No.: |
91-8088179798 |
|
|
|
|
Person to whom we met: |
Mr. Shiv Kumar (Manager) |
|
|
|
|
Name Board : |
Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Landmark (If Any): |
Near Raith Bhavan, Metro Yashwanthpur |
|
|
|
|
Total Floors of the Building : |
3 Floors |
|
|
|
|
Subject situated on: |
Ground Floor |
|
|
|
|
Locality: |
Commercial |
|
|
|
|
Area of Premises : |
250 Sq. Ft. |
|
|
|
|
Area : |
Upmarket |
|
|
|
|
No. of employees seen at premises: |
09 [Approx.] |
|
|
|
|
Neighbours Interview : |
During
the visit, our executive met Mr. Sri Kumar from neighbour company (Sri Kumar Traders)
and he confirmed that the subject exists on the given address. |
|
|
|
|
Proof of visit: |
Photos |
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
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.66 |
|
|
1 |
INR 90.65 |
|
Euro |
1 |
INR 79.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
IND |
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 |
NO |
|
--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.