|
|
|
MIRA INFORM REPORT
|
Report No. : |
488382 |
|
Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
BIOCAD INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.163/C, 3rd Cross, 3rd Phase, J.P. Nagar, Bangalore –
560078, Karnataka |
|
Mobile No.: |
91-9740163609 (Mr. Karthikeyan S) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
30.03.2012 |
|
|
|
|
Com. Reg. No.: |
08- 063319 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900KA2012PTC063319 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN/UIN: |
29AAECB9542M1Z3 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECB9542M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
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|
|
|
|
No. of Employees
: |
60 (Approximately) |
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 30000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2012 having satisfactory track record. It is engaged as manufacturer of bio technological and pharmaceutical products dedicated to treat complex health conditions such as cancer, HIV and Hepatitis C infections, multiple sclerosis and other disorders. For the financial year 2017, the company has achieved top line growth in its revenue as compared to its previous year along with fair profit margin during the year. Rating takes into consideration, the satisfactory financial risk profile marked by adequate net worth base and strong debt protection metric. Rating continue to derive strength from its established record of its business operation backed by its strong financial support from its holding entity. However, these rating strengths are partially offset by exposure to intense completion in the international generics market, and growing regulatory scrutiny in emerging market, along with growing competition, substantial investment in infrastructure and R&D which impact in profitability pressure among the major players. Payments seems to be slow but 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 (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 31.01.2018
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
|
Name : |
Mr. Karthikeyan S |
|
Designation : |
Project Manager |
|
Contact No.: |
91-9740163609 |
|
Date : |
30.01.2018 |
LOCATIONS
|
Registered Office / factory: |
No.163/C, 3rd Cross, 3rd Phase, J.P. Nagar, Bangalore –
560078, Karnataka,
India |
|
Tel. No.: |
91-80-41699773 |
|
Mobile No.: |
91-9740163609 (Mr. Karthikeyan S) 91-9035538824 (Mr. Raghu) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Located at
|
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Chinnabhandara Anantrao Krishnamurthyrao |
|
Designation : |
Managing Director |
|
Address : |
1219, 26th Main, 9th Block, Jayanagara, Bangalore –
560069, Karnataka,
India |
|
Date of Birth/Age : |
08.12.1971 |
|
Date of Appointment : |
01.07.2017 |
|
DIN No.: |
06588194 |
|
|
|
|
Name : |
Mr. Roman Alekseyevich Ivanov |
|
Designation : |
Director |
|
Address : |
Planetnaya Street 29/2-176, Moscow Russia 125167 |
|
Date of Birth/Age : |
02.08.1977 |
|
Date of Appointment : |
30.03.2012 |
|
DIN No.: |
05209351 |
KEY EXECUTIVES
|
Name : |
Mr. Karthikeyan S |
|
Designation : |
Project Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
CJSC Biocad |
900 |
90.00 |
|
Biocad Pharma LLC |
100 |
10.00 |
|
Total |
1000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.10.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
||||
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||||
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Imports : |
|
||||
|
Products : |
Raw material |
||||
|
Countries : |
Russia |
||||
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||||
|
Terms : |
|
||||
|
Selling : |
Cheque and Others (RTGS) |
||||
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||||
|
Purchasing : |
Cheque and Others (RTGS) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users, OEM’s
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No. of Employees : |
60 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Raghavendra Naik and Associates Chartered Accountants |
|
Address : |
51, Stock Exchange Towers (Annexe), 1st Cross, J C Road, Bangalore-
560027,
Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAPFR9433F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Parent Company : |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
INR 100/- each |
INR 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
INR 100/- each |
INR 0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.100 |
0.100 |
0.100 |
|
(b) Reserves &
Surplus |
10.465 |
6.812 |
6.097 |
|
(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) |
10.565 |
6.912 |
6.197 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1.670 |
0.000 |
0.000 |
|
(b) Trade payables |
7.355 |
0.220 |
18.279 |
|
(c) Other current
liabilities |
3.825 |
4.355 |
84.375 |
|
(d) Short-term provisions |
16.201 |
5.254 |
3.439 |
|
Total Current Liabilities
(4) |
29.051 |
9.829 |
106.093 |
|
|
|
|
|
|
TOTAL |
39.616 |
16.741 |
112.290 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.259 |
1.008 |
1.562 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.367 |
0.142 |
0.055 |
|
(d) Long-term Loan and Advances |
0.900 |
0.800 |
0.800 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2.526 |
1.950 |
2.417 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1.427 |
5.776 |
1.564 |
|
(c) Trade receivables |
25.885 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
4.449 |
4.825 |
8.127 |
|
(e) Short-term loans and
advances |
4.460 |
3.423 |
21.594 |
|
(f) Other current assets |
0.869 |
0.767 |
78.588 |
|
Total Current Assets |
37.090 |
14.791 |
109.873 |
|
|
|
|
|
|
TOTAL |
39.616 |
16.741 |
112.290 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
83.597 |
36.178 |
68.489 |
|
|
Other Income |
0.037 |
0.266 |
0.548 |
|
|
TOTAL |
83.634 |
36.444 |
69.037 |
|
|
|
(Increase in order) |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2.519 |
3.375 |
15.168 |
|
|
Employees benefits
expense |
17.317 |
14.684 |
12.195 |
|
|
Operating Expenses |
46.227 |
5.235 |
26.622 |
|
|
Other expenses |
11.783 |
11.460 |
11.232 |
|
|
TOTAL |
77.846 |
34.754 |
65.217 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
|
5.788 |
1.690 |
3.820 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
5.788 |
1.690 |
3.820 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.286 |
0.591 |
1.370 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
5.502 |
1.099 |
2.450 |
|
|
|
|
|
|
|
Less |
TAX |
1.849 |
0.384 |
0.916 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
3.653 |
0.715 |
1.534 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3652.73 |
715.01 |
1533.80 |
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 |
(0.946) |
(2.527) |
(12.412) |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(1.446) |
(3.528) |
(14.069) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
113.02 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.23 |
0.00 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
1065.73 |
23.79 |
439.86 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
4.06 |
0.29 |
2.44 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
4.60 |
1.68 |
2.45 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.73 |
0.59 |
0.94 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.16 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.75 |
1.42 |
17.12 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.12 |
0.15 |
0.25 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
4.37 |
1.98 |
2.24 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.22 |
4.27 |
1.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
34.58 |
10.34 |
24.75 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.28 |
1.50 |
1.04 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.23 |
0.92 |
1.02 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.27 |
0.41 |
0.06 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
16.70 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.28 |
1.50 |
1.04 |
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 |
6.097 |
6.812 |
10.465 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
6.197 |
6.912 |
10.565 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
1.670 |
|
Total
borrowings |
0.000 |
0.000 |
1.670 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.158 |
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
|
68.489 |
36.178 |
83.597 |
|
|
|
(47.177) |
131.071 |
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
|
68.489 |
36.178 |
83.597 |
|
Profit |
1.534 |
0.715 |
3.653 |
|
|
2.24% |
1.98% |
4.37% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
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 |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGE: No Charges Exists for Company
BACKGROUND
Subject has been incorporated on 30th March, 2012
under companies Act, 1956. The company provides services in pharmaceutical
research i.e conduction of clinical trials, preparation of dossier and
procurement of active pharmaceutical ingredients.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
SHORT TERM
BORROWING |
|
|
|
Loan from directors |
1.670 |
0.000 |
|
Total |
1.670 |
0.000 |
FIXED ASSETS:
- Furniture and fittings
- Office Equipment’s
- Plant and Machinery
- Motor Vehicles
- Computers and Laptops
- Services and Networks
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 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 63.75 |
|
|
1 |
INR 89.39 |
|
Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KVT |
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.