MIRA INFORM REPORT

Report No. :	494562
Report Date :	27.02.2018

IDENTIFICATION DETAILS

Name :	MALABAR EQUIPMENTS AND GENERAL TRADERS PRIVATE LIMITED
Registered Office :	41/2299, 3rd Floor, Malabar Gate, Ram Mohan Road, Puthiyara Post, Calicut – 673004, Kerala
Tel. No.:	91-495-2721864
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	26.12.2006
Com. Reg. No.:	09-020129
Capital Investment / Paid-up Capital :	INR 0.500 Million
CIN No.: [Company Identification No.]	U52599KL2006PTC020129
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	32AAECM9520E1ZS
TIN No:	32110844005
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAECM9520E
Legal Form :	Private Limited Liability Company
Line of Business :	The Company is predominantly engaged in supply of equipments, instruments, fixture and fittings, gift articles, packing materials, construction materials and other allied products and to render various services in connection with the above. [Registered Activity]
No. of Employees :	Not Divulged

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 190000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 2006 having satisfactory track record. Management of the company has not filed its financials with the government department for the year 2017. As per available financial of 2016, the company has witnessed a growth in its revenue and reported profit margin at 2.93% (approx.) The company possesses sound financial profile marked by healthy net worth base along with low debt level and decent earning per share of the company (i.e., earning per share of INR 26546.27 against face value of INR 1000). The company also derives strength from its established track record of business operations. Trade relations are reported as fair. Business is active. Payments terms are seems to be usually correct and as per commitments. 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

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 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 DENIED

Management non co-operative (91-495-2704777)

Given number is ringing 91-9811700341

LOCATIONS

Registered Office :	41/2299, 3rd Floor, Malabar Gate, Ram Mohan Road, Puthiyara Post, Calicut – 673004, Kerala, India
Tel. No.:	91-495-2721864
Fax No.:	91-495-2724930
E-Mail :	corporateaffairs@malabargroup.com mail@megatrade.in
Website:	http://www.megatrade.in
Corporate Office :	18/438, A1 to A7, A12, Colombo Complex, MM Ali Road, Calicut - 672002, Kerala, India
Tel. No.:	91-495-2704444/ 2704777
Fax No.:	91-495-2704774
Branches:	Located At: Cochin Coimbatore Hyderabad Bangalore Kollam

DIRECTORS

AS ON 31.03.2017

Name :

Berfeekh Manalody

Designation :

Managing Director

Address :

Umaras, Kaduppini, Mankave Post, Calicut-673007, Kerala, India

Date of Birth/Age :

21.03.1978

Date of Appointment :

26.12.2006

DIN No.:

00930086

Name :

Veerankutty Kandambath Puthiyapath

Designation :

Director

Address :

5/1912 B, Kandambath, Ashokapuram, St. Vincent Colony Road, Eranhipalam Post, Kozhikode-673006, Kerala, India

Date of Birth/Age :

15.07.1950

Date of Appointment :

02.02.2007

DIN No.:

00016686

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U70100KL2009PTC024367	SONNET BUILDERS AND DEVELOPERS PRIVATE LIMITED	30/09/2011	-
U74999KL2010PTC025975	MALLRISE MANAGEMENT SERVICES PRIVATE LIMITED	07/05/2010	-
U70102KL2007PTC021075	MALABAR MOUNTAIN INFRA DEVELOPERS PRIVATE LIMITED	30/09/2014	-
U51398KL2010PTC026164	UNITY JEWEL ARCADE PRIVATE LIMITED	09/06/2010	-
U52312KL2012PTC032907	MALABAR RETAIL VENTURES PRIVATE LIMITED	14/12/2012	-
U51398KL2008PTC022577	MG PRECIOUS STONE TRADING VENTURES PRIVATE LIMITED	11/06/2008	-
U52393KL2007PTC020264	MALABAR DAZZLE INDIA PRIVATE LIMITED	27/07/2011	-
U45202KL2007PTC020450	MALABAR EDIFICE PRIVATE LIMITED	02/09/2008	-
U52393KL2001PTC014804	MALABAR GOLD PRIVATE LIMITED	19/06/2001	-
U45202KL2005PTC018794	MALABAR TOWERS PRIVATE LIMITED	27/09/2006	-
U52393KL2005PTC018265	MALABAR GOLD PALACE PRIVATE LIMITED	07/06/2005	-
U52393KL2005PTC018333	MALABAR GOLD JEWELS (TIRUR) PRIVATE LIMITED	11/09/2015	-
U51394KL2004PTC016915	MALABAR WATCHES PRIVATE LIMITED	20/12/2004	-
U36911KL2003PTC016159	MALABAR GOLD ORNAMENTS MAKERS PRIVATE LIMITED	22/08/2004	-
U55101KL1999PTC012858	MALABAR HOSPITALITY SERVICES PRIVATE LIMITED	05/03/1999	-
U45201KL1999PTC012720	MALABAR MARINA PROJECTS (INDIA) PRIVATE LIMITED	01/04/2011	-
U17292KL1994PTC007987	MALABAR SILKS AND SAREES PVT LTD	17/06/1994	-
U70101KL1958PTC001812	MALABAR BUSINESS CENTRE PRIVATE LIMITED	18/12/2004	-

Name :

Hakkeem Cheriyaparambil

Designation :

Director

Address :

Tamanna, Sooryankandy Road, Puthiyangadi Post, Kozhikode-673021, Kerala, India

Date of Birth/Age :

16.03.1967

Date of Appointment :

02.08.2011

DIN No.:

03620540

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U51398KL2003PTC016237	MALABAR ORNAMENTS PRIVATE LIMITED	14/08/2012	-
U52393KL2007PTC021369	LUSTER GOLD PALACE (INDIA) PRIVATE LIMITED	03/09/2012	-
U52393KL2008PTC022635	GLISTEN GOLD COLLECTIONS PRIVATE LIMITED	30/08/2012	-

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 31.03.2016

Names of Shareholders	No. of Shares
Berfeekh M.	10
Shameena P	10
Faisal A K	20
Hafida Hamza	10
Thahira K V	10
Malabar Gold Private Limited	330
Sejna K	10
Sheena V	10
Rubeena C M	10
Fathima Fethin	10
Sithara C K	10
Saleem Muthodath Chemmata	40
Rajalakshmi M K	10
Soumya Jithin Raj	5
Anaswara B B	5
Total	500

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2016

Category	Percentage
Promoters - Individual/Hindu Undivided Family – India	2.00
Public/Other than promoters - Individual/Hindu Undivided Family – India	28.00
Public/Other than promoters -Non-resident Indian (NRI)	4.00
Public/Other than promoters -Body corporate	66.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is predominantly engaged in supply of equipments, instruments, fixture and fittings, gift articles, packing materials, construction materials and other allied products and to render various services in connection with the above. [Registered Activity]

Products :

Item Code No.	Product Description
4100	Machinery and equipment

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 :

Not Divulged

Bankers :

Banker Name	Kotak Mahindra Prime Limited
Branch Address	27-BKC, C-27, G Block Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Facilities :

Secured Loan	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Long-term Borrowings
Bonds / Debenture Compulsory Convertible Debenture	6.137	0.000
Debenture Application Money Pending Allotment	0.000	6.137
From Banks vehicle Loan ICICI Bank Limited Force Traveller Loan	0.241	0.458
Kotak Mahindra Prime Limited I20 Car loan	0.417	0.663
Total	6.795	7.258

Auditors :
Name :	P.A. Hameed and Associates Chartered Accountants
Address :	No.6/1201, Cherooty Road, north End, Opposite Gandhi Park, Calicut – 673032, Kerala, India
Tel. No.:	91-495-2366777/ 2766847
Mobile No.:	91-9847799336
PAN No.:	AAMFP6604R
Memberships :	Not Available
Collaborators :	Not Available
Holding Company:	Malabar Gold Private Limited (U52393KL2001PTC014804)
Other Related Parties:	Aesthet Gold Ornaments Private Limited Eminent Jewel Arcade Private Limited Malabar Developers Private Limited Malabar Jewels Fort Private Limited Patina Gold Ornaments Private Limited Travencore Gold India Private Limited Unity Jewel Arcade Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
1000	Equity Shares	INR 1000/- each	INR 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500	Equity Shares	INR 1000/- each	INR 0.500 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500	0.500	0.500
(b) Reserves & Surplus	65.764	52.491	41.283
(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)	66.264	52.991	41.783
(3) Non-Current Liabilities
(a) long-term borrowings	18.708	19.171	22.713
(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	0.561	0.393	0.340
Total Non-current Liabilities (3)	19.269	19.564	23.053
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	6.737	18.125	17.169
(c) Other current liabilities	5.113	6.704	9.911
(d) Short-term provisions	5.222	5.756	1.162
Total Current Liabilities (4)	17.072	30.585	28.242
TOTAL	102.605	103.140	93.078
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.747	5.451	4.978
(ii) Intangible Assets	0.000	0.000	0.000
(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	5.038	4.078	2.656
(c) Deferred tax assets (net)	0.866	0.558	0.179
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	5.793	5.648	4.426
Total Non-Current Assets	16.444	15.735	12.239
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	39.187	42.278	29.903
(c) Trade receivables	25.618	24.374	17.922
(d) Cash and cash equivalents	11.516	14.962	31.683
(e) Short-term loans and advances	9.725	5.628	1.271
(f) Other current assets	0.115	0.163	0.060
Total Current Assets	86.161	87.405	80.839
TOTAL	102.605	103.140	93.078

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Income	453.693	395.819	381.800
	Other Income	8.639	4.911	2.981
	TOTAL	462.332	400.730	384.781
Less	EXPENSES
	Purchases of Stock-in-Trade	403.398	365.996	338.734
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	3.090	(12.375)	(3.426)
	Employees benefits expense	12.405	9.078	9.318
	Other expenses	18.972	15.786	17.142
	TOTAL	437.865	378.485	361.768
	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	24.467	22.245	23.013
Less	FINANCIAL EXPENSES	2.914	3.536	3.477
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	21.553	18.709	19.536
Less/ Add	DEPRECIATION/ AMORTISATION	1.848	2.213	0.754
	PROFIT/ (LOSS) BEFORE TAX	19.705	16.496	18.782
Less	TAX	6.432	5.184	6.208
	PROFIT/ (LOSS) AFTER TAX	13.273	11.312	12.574
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	52.491	41.283	28.709
Less:	Deductions during the year asset Written off	0.000	(0.104)	0.000
	Balance Carried to the B/S	65.764	52.491	41.283
	EARNINGS IN FOREIGN CURRENCY	3.758	0.058	0.048
	Earnings / (Loss) Per Share (INR)	26546.27	22623.97	25148.90

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net Cash flows from operating activities	1.115	(5.432)	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	20.61	22.48	17.13
Account Receivables Turnover (Income / Sundry Debtors)	17.71	16.24	21.30
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	6.10	18.08	18.50
Inventory Turnover (Operating Income / Inventories)	0.62	0.53	0.77
Asset Turnover (Operating Income / Net Fixed Assets)	5.15	4.08	4.62

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.35	0.48	0.55
Debt Equity Ratio (Total Liability / Networth)	0.28	0.36	0.54
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.26	0.58	0.68
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.07	0.10	0.12
Interest Coverage Ratio (PBIT / Financial Charges)	8.40	6.29	6.62

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin (PAT / Sales) * 100)	%	2.93	2.86	3.29
Return on Total Assets ((PAT / Total Assets) * 100)	%	12.94	10.97	13.51
Return on Investment (ROI) ((PAT / Networth) * 100)	%	20.03	21.35	30.09

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	5.05	2.86	2.86
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	2.75	1.48	1.80
G-Score Ratio Financial (Networth / Total Assets)	0.65	0.51	0.45
G-Score Ratio Debt (Debts / Equity Capital)	37.42	38.34	45.43
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	5.05	2.86	2.86

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	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Share Capital	0.500	0.500	0.500
Reserves & Surplus	41.283	52.491	65.764
Net worth	41.783	52.991	66.264
Long-term borrowings	22.713	19.171	18.708
Short term borrowings	0.000	0.000	0.000
Total borrowings	22.713	19.171	18.708
Debt/Equity ratio	0.544	0.362	0.282

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	381.800	395.819	453.693
		3.672	14.621

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	381.800	395.819	453.693
Profit/ (Loss)	12.574	11.312	13.273
	3.29%	2.86%	2.93%

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	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	No
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

UNSECURED LOAN

PARTICULARS	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Long-term Borrowings
Loans and Advances from Shareholders	11.913	11.913
Total	11.913	11.913

INDEX OF CAHREGS:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	C55469910	10573517	Kotak Mahindra Prime Limited	16/09/2014	-	-	780000.0	27-BKC, C-27, G Block Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India

FIXED ASSETS

• Plant and machinery
• Office and equipment
• Computer and Accessories
• Electrical Goods and Fittings
• Vehicles
• Furniture and Fixture

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 64.66
UK Pound	1	INR 90.65
Euro	1	INR 79.70

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	DIV
Report Prepared by :	MTN

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.