MIRA INFORM REPORT

 

 

Report No. :

494459

Report Date :

28.02.2018

 

 

 

 

IDENTIFICATION DETAILS

 

Name :

THAMIZHAGA CABLE TV COMMUNICATION PRIVATE LIMITED

 

 

Registered Office :

No. 9A, Old No. 5, Club Road, Chetpet, Chennai – 600031, Tamilnadu

Tel. No.:

91-44-28363676

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

10.07.2012

 

 

Com. Reg. No.:

18-086692

 

 

Capital Investment / Paid-up Capital :

INR 0.100 Million

 

 

CIN No.:

[Company Identification No.]

U74990TN2012PTC086692

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

AAECT3151A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of TV Networking, Communication Cabling, Building Automation and Signal Networking, TV Programme Production, Distribution, Marketing and Advertisement in visual media, own and operate TV Channels, deal in all kinds of cable networking equipments and provide all kinds of communication service including internet and intranet services. (Registered activity)

 

 

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

 

Maximum Credit Limit :

USD 150000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2012. It is engaged in providing all kinds of Communication services.

 

For the financial year 2017, the revenue of the company has decreased by 24.80% but has managed to maintain decent profit margin of 7.60%.

 

The satisfactory financial profile of the company is marked by sufficient networth base along with comfortable networth base.

 

The company has favourable Earning Per Share (EPS) of INR 2514.43 against a face value (FV) of INR 10.

 

Business is active. Payments seems to be usually correct.

 

In view of 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

(30.09.2017)

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 28.02.2018

 

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.: 91-44-28363676

 

 

LOCATIONS

 

Registered Office :

No. 9A, Old No. 5, Club Road, Chetpet, Chennai – 600031, Tamilnadu, India

Tel. No.:

91-44-28363676 / 2266773

Fax No.:

Not Available

E-Mail :

nagamanickam@tccl.co.in

tccltn@gamil.com

Website:

www.tccl.co.in

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Sakilan Padmanaban

Designation :

Director

Address :

No. 391, E Block, Voc Nagar, Tondiarpet, Chennai – 600081, Tamilnadu, India

Date of Birth/Age :

04.04.1972

Date of Appointment :

10.07.2012

DIN No.:

02821198

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U64200TN2015PTC103417

THAMIZHAGA INTERNET COMMUNICATIONS PRIVATE LIMITED

23/12/2015

-

 

 

Name :

Mr. Iyyamperumal Nagamanikam

Designation :

Director

Address :

Old No. 33/1, New No. 79 37th Street, GKM Colony, Chennai – 600082, Tamilnadu, India

Date of Birth/Age :

20.05.1976

Date of Appointment :

10.07.2012

DIN No.:

03116187

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74900TN2010PTC076673

PUGAL TRADING PRIVATE LIMITED

21/07/2010

-

U74900TN2012PTC085626

ATLAS SURVEYS PRIVATE LIMITED

27/04/2012

-

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2017

 

Names of Shareholders

No. of Shares

%age

Iyyamperumal Nagamanikam

4000

40.00

Tamilnadu Digital Network LLP, India

6000

60.00

Total

10000

100.00

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 26.09.2017

 

Category

Percentage

Promoter – (Individual/ Hindu Undivided Family – Indian)

40.00

Public - Bodies corporate

60.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of TV Networking, Communication Cabling, Building Automation and Signal Networking, TV Programme Production, Distribution, Marketing and Advertisement in visual media, own and operate TV Channels, deal in all kinds of cable networking equipments and provide all kinds of communication service including internet and intranet services. (Registered activity)

 

 

Products :

Item Code No.

Product Description

99846340

Telecommunication, Broadcasting and Information Supply Services

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :
  • Railtel Corporation of India Limited
  • Shenzhen Coship Electronics Co Limited
  • Jiangsu Yinhe Electronics Co Limited
  • Nagaravision SA, Switzerland
  • MSM Discovery Private Limited
  • MAA Telivision Network Limited
  • TV18 Broadcast limited
  • Broadcast Engineering Consultants Limited
  • Star Sports India Private Limited
  • Airtel
  • BSNL-Chennai Telephones
  • BSNL- Pondicherry
  • Sterlite Technologies Limited.
  • Vary Soft Controls
  • Team Travels
  • Indiacast Distribution Private Limited
  • Accessories Advance
  • Panodic Electric (Hong Kong) Limited
  • RTR Vision Limited
  • Bharathi Airtel Limited
  • Channel Master Private Limited
  • Classic Tour and Travels
  • Easton Media Private Limited
  • Glow Freight Logistics Private Limited
  • ITP Software India Private Limited
  • Jayam Body Works
  • Popular Mega Motors (India) Private Limited
  • Tata AIG General Insurance Co. Limited
  • Sterlite Technologies Limited.
  • Yohalakshmi Travels
  • MCN Digital Network

 

Reference :

Harmonic International Limited

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :
  • Boss Media Network Private Limited.
  • El-Shaddai Vision
  • Star Media Solutions
  • Bennett, Coleman and Co. Limited
  • BIG DEAL TV Private Limited

 

Reference :

Arul Jothi Sanmarkka Trust

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Not Divulged

Branch

--

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

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Loans and Advances From Related Parties:

 

 

From Tamilnadu Digittal Network LLP

91.434

105.350

Loans & Advances From Others:

 

 

From Polimer Media Private limited

5.682

5.683

From HDFC - Vehicle/Auto Loan - 24533451

0.000

0.030

From HDFC - Vehicle/Auto Loan - 24533839

0.000

0.030

From HDFC Bank Ltd A/c Wheeler Loan (45114315)

0.045

0.000

From HDFC Bank Ltd A/c Wheeler Loan (45200184)

0.045

0.000

From HDFC Bank Ltd A/c Wheeler Loan (45206091)

0.045

0.000

From HDFC Bank Ltd A/c Wheeler Loan (45209141)

0.044

0.000

From HDFC Bank Ltd A/c Wheeler Loan (45211356)

0.044

0.000

From HDFC Bank Ltd A/c Wheeler Loan (45212778)

0.044

0.000

Sundaram Finance Limited

0.432

0.000

From Dhana Chit Funds

0.000

0.250

From Christina Finance and Investment Limited

3.497

5.000

Total

101.312

116.343

 

Auditors :

 

Name :

Venkatesh and Company

Chartered Accountants

Address :

Sri Ranga, New No.151, Mambalam High Road, T.Nagar, Chennai – 600017, Tamilnadu, India

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

AAAFV0620K

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

 

 

 

 

CAPITAL STRUCTURE

 

As on 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7000000

Equity Shares

INR 10/- each

INR 70.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

INR 10/- each

INR 0.100 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

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

0.100

0.100

0.100

(b) Reserves & Surplus

52.665

27.521

22.755

(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)

52.765

27.621

22.855

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

101.312

116.343

81.582

(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

0.000

0.000

0.000

Total Non-current Liabilities (3)

101.312

116.343

81.582

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

82.323

70.400

92.309

(c) Other current liabilities

152.747

71.000

65.607

(d) Short-term provisions

9.087

11.863

49.238

Total Current Liabilities (4)

244.157

153.263

207.154

 

 

 

 

TOTAL

398.234

297.227

311.591

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

263.185

216.105

258.463

(ii) Intangible Assets

1.348

0.490

1.083

(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)

10.888

10.889

5.281

(d)  Long-term Loan and Advances

0.300

0.600

0.500

(e) Other Non-current assets

3.939

7.879

11.819

Total Non-Current Assets

279.660

235.963

277.146

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

15.100

24.557

10.568

(d) Cash and cash equivalents

(11.786)

(3.642)

0.424

(e) Short-term loans and advances

110.062

38.595

15.882

(f) Other current assets

5.198

1.754

7.571

Total Current Assets

118.574

61.264

34.445

 

 

 

 

TOTAL

398.234

297.227

311.591

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

330.585

439.658

432.855

 

Other Income

8.098

5.712

4.324

 

TOTAL

338.683

445.370

437.179

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Operational Cost

198.710

314.595

312.252

 

Employees benefits expense

22.229

15.651

14.129

 

Other Administrative expenses

28.334

32.514

18.330

 

TOTAL

249.273

362.760

344.711

 

 

 

 

 

 

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

89.410

82.610

92.468

 

 

 

 

 

Less

FINANCIAL EXPENSES

1.506

9.539

5.318

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

87.904

73.071

87.150

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

50.192

65.095

71.877

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

37.712

7.976

15.273

 

 

 

 

 

Less

TAX

12.568

3.210

5.625

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

25.144

4.766

9.648

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

27.521

22.755

13.107

 

 

 

 

 

 

Balance Carried to the B/S

52.665

27.521

22.755

 

 

 

 

 

 

IMPORTS

 

 

 

 

Capital Goods

71.749

11.816

59.599

 

TOTAL IMPORTS

71.749

11.816

59.599

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

2514.43

576.62

964.79

 

 

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

NA

NA

NA

Net cash flow from operating activity

102.284

(10.191)

90.862

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

16.67

20.39

8.91

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

21.89

17.90

40.96

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

151.21

81.68

107.90

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.34

0.38

0.36

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.87

0.91

0.93

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.92

4.21

3.57

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

4.63

5.55

9.06

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

5.01

7.84

11.36

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

59.37

8.66

17.39

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

7.61

1.08

2.23

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

6.31

1.60

3.10

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

47.65

17.25

42.21

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

0.49

0.40

0.17

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.49

0.40

0.17

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.13

0.09

0.07

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

1013.12

1163.43

815.82

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

0.49

0.40

0.17

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

0.100

0.100

0.100

Reserves & Surplus

22.755

27.521

52.665

Share Application money pending allotment

0.000

0.000

0.000

Net worth

22.855

27.621

52.765

 

 

 

 

Long Term borrowings

81.582

116.343

101.312

Short Term borrowings

0.000

0.000

0.000

Total borrowings

81.582

116.343

101.312

Debt/Equity ratio

3.570

4.212

1.920

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

432.855

439.658

330.585

 

 

1.572

(24.809)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

432.855

439.658

330.585

Profit

9.648

4.766

25.144

 

2.23%

1.08%

7.61%

 

 

 

 

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

Yes

8

Designation of contact person

Yes

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

No

18

Major suppliers

Yes

19

Major customers

Yes

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 CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

 

FIXED ASSETS

 

  • Electronic Fittings
  • Furniture and Fittings
  • Genset
  • Set Top Box
  • Office Equipment
  • Transmission Equipments
  • Vehicles
  • Computer
  • Computer and Accessories

 

 

 

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 79.69

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

VRS

 

 

Report Prepared by :

SUJ

 

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)

 

 

 

 

 

 

 

 

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.