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3decades

 

MIRA INFORM REPORT

 

 

 

 

Report No. :

514515.2

Report Date :

21.06.2018

 

IDENTIFICATION DETAILS

 

Name :

BHARATH MEDICAL AND GENERAL AGENCIES

 

 

Registered Office :

No. 1980B, 1st & 2nd Floor, 26th Cross, 9th Main Road, Bhansankari, Second Stage, Bangalore-560070, Karnataka

Mobile No.:

91-9448066469 [Mr. Babulal Chowhan]

 

 

Country :

India

 

 

Financials (as on) :

31.03.2018 [Sales Figures]

31.03.2017 [Detailed Financial]

 

 

Year of Establishment :

1964

 

 

Capital Investment :

INR 6.241 Million [As on 31.03.2017]

 

 

IEC No.:

[Import-Export Code No.]

Not Applicable (As informed by the management that firm does not have export and import)

 

 

TIN No.:

29440306290

 

 

PAN No.:

[Permanent Account No.]

AARPB6016G

 

 

GSTN :

[Goods & Service Tax Registration No.]

29AARPB6016G1ZP

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Trader and Distributor of Pharmaceutical and Healthcare Products. [Confirmed by Management]

 

 

No. of Employees :

15 [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 17800

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a proprietorship concern established in the year 1964.

 

It is a trader and distributor of Pharmaceutical and Healthcare products.

 

Mr. Rajesh (Manager) has provided information about the subject and further he claimed that the subject has achieved revenue of INR 350 million for the FY 2018 (Which could not be verified).

 

As per the financial records of 2017, the concern has reported decline in its revenue as compared to previous year but has managed to maintain low profit margin of 0.33%.

 

The satisfactory financial profile of the concern is marked by comfortable capital base along with average debt coverage indicators.

 

Rating takes into consideration long established track record of the concern.

 

Business is active. Payment seems to be slow but correct.

 

In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions.

 

Note 1: Site Visit was conducted at the given address and our executive has successfully traced the subject.

 

At the premises, our executive met Mr. Devendra (Security Guard) and he confirmed that the subject is situated on the given address and further he denied to provide any information and further he did not allow our executive to enter in the premises.

 

During the site visit, our executive enquired with neighbour companies (Grid R & D and Yadava Samudaya Bhavana) and they confirmed that the subject is situated on the given address.

 

As per our executive’s observation, it is a 2 storey building and entire premises belongs to subject. Location was easy to find and locality appears to be commercial cum industrial. Area seems to be neutral.

 

Name board of the subject was sighted.

 

Note 2: As per the name board of the subject sighted during the site visit the correct name of the concern is “Bharath Medical and General Agencies”.

 

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

(31.12.2017)

Current Rating

(01.04.2018)

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 31-03-2018.

 

 

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 21.06.2018.

 

 

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. Rajesh

Designation :

Manager

Contact No.:

91-9448066469

Date :

13.06.2018

 

 

LOCATIONS

 

Registered Office :

No. 1980B, 1st & 2nd Floor, 26th Cross, 9th Main Road, Bhansankari, Second Stage, Bangalore-560070, Karnataka, India

Tel. No.:

91-80-26719500/ 600/ 800

Mobile No.:

91-9448066469 [Mr. Babulal Chowhan]

Fax No.:

91-80-26719700

E-Mail :

bmga_rp@yahoo.com

office@bharathrajesh.co.in

Website :

http://www.bharathrajesh.co.in

Area :

5700 Sq. Ft.

Location :

Rented

Locality :

Commercial

 

 

SOLE PROPRIETOR

 

Name :

Mr. Babulal Chowhan

Designation :

Proprietor

Address :

No. 33rd, “A” Cross, 4th Block, Jayanagar, Bangalore-560011, Karnataka, India

Date of Birth/Age :

72 Years

PAN No.:

AARPB6016G

 

 

KEY EXECUTIVES

 

Name :

Mr. Rajesh

Designation :

Manager

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Distributor of Pharmaceutical and Healthcare Products. [Confirmed by Management]

 

 

Products/ Services :

·         Pharmaceutical

·         Healthcare Products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

·         Smith & Nephew Healthcare Private Limited

·         Glaxo Smith Kline Pharmaceuticals Limited

·         MSD Pharmaceuticals Limited

·         Novartis India Limited

 

 

Exports :

 

Products :

Not Available

Countries :

Not Available

 

 

Imports :

 

Products :

Not Available

Countries :

Not Available

 

 

Terms :

 

Selling :

Cheque and Credit [30,60 Days] and Others [RTGS]

 

 

Purchasing :

Cheque and Credit [30,60 Days] and Others [RTGS]

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Novartis India Limited

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

·         Smith & Nephew Healthcare Private Limited

·         Glaxo Smith Kline Pharmaceuticals Limited

·         MSD Pharmaceuticals Limited

 

 

Customers :

Wholesaler, Retailers and Others [Hospital]

 

Reference:

Not Divulged

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

No. of Employees :

15 [Approximately]

 

 

Bankers :

 

Bank Name:

Karnataka Bank Limited

Branch:

Chickpet Branch, Bangalore-560053, Karnataka, India

Person Name (with Designation):

Senior Manager [Name Not Divulged]

Contact Number:

91-80-22955852

Name of Account Holder:

BHARATH MEDICAL AND GENERAL AGENCIES

Account Number:

0567000110178401 [Confirmed by Management]

Account Since (Date/ Year of A/c Opening):

--

Average Balance Maintained (Optional):

--

Credit Facilities Enjoyed (CC/OD/Term Loan):

Overdraft Limit=INR 10.000 Million

Account Operation:

--

Remarks:

Denied to provide any feedback

 

 

Facilities :

SECURED LOANS

31.03.2017

(INR In Million)

31.03.2016

(INR In Million)

Karnataka Bank Limited, Chickpet

13.493

0.000

Karnataka Bank Limited (O/D A/C)

0.000

22.811

 

 

 

Total

 

13.493

22.811

 

 

 

Auditors :

 

Name :

Pranav Mehta and Associates

Chartered Accountants

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Sister Concern :

Rishabh Inc

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Capital Investment :

 

Owned :

INR 6.241 Million

Borrowed :

---

Total :

INR 6.241 Million

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

PARTICULARS

 

 

 

31.03.2018

Sales Turnover (Approximately)

 

 

350.000

 

 

 

 

 

Expected Sales (2018-2019): INR 500.000 Million [due to business growth]

 

The above information has been parted by Mr. Rajesh (Manager)

 

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

 

 

 

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

31.03.2015

SHAREHOLDERS FUNDS

 

 

 

1] Capital Account

6.241

6.410

4.837

2] Reserves & Surplus

0.000

0.000

0.000

NETWORTH

6.241

6.410

4.837

LOAN FUNDS

 

 

 

1] Secured Loans

13.493

22.811

8.674

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

13.493

22.811

8.674

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

19.734

29.221

13.511

 

 

 

 

APPLICATION OF FUNDS
 
 
 

 

 

 

 

FIXED ASSETS [Net Block]

1.248

1.406

1.095

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERRED TAX ASSETS

0.000

0.000

0.000

 
 
 
 

CURRENT ASSETS, LOANS & ADVANCES
 
 
 

 

Inventories
15.795
15.136
12.647

 

Sundry Debtors
50.202
57.329
59.443

 

Cash & Bank Balances
1.462
1.343
0.860

 

Other Current Assets
4.701
9.588
3.745

 

Loans & Advances
10.723
6.239
9.063

Total Current Assets
82.883
89.635
85.758

Less : CURRENT LIABILITIES & PROVISIONS
 
 
 

 

Sundry Creditors
62.925
60.501
71.889

 

Other Current Liabilities
0.975
0.848
0.944

 

Provisions
0.497
0.471
0.509

Total Current Liabilities
64.397
61.820
73.342

Net Current Assets
18.486
27.815

12.416

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

19.734

29.221

13.511

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

 

Sales

359.461

396.020

362.498

 

 

Other Income

1.733

2.000

1.321

 

 

TOTAL                                    

361.194

398.020

363.819

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

340.986

377.412

344.781

 

 

Conveyances

0.001

0.001

0.001

 

 

Advocate Fee

0.008

0.000

0.002

 

 

Freight

0.003

0.004

0.011

 

 

Audit Fees

0.000

0.000

0.035

 

 

Advertisement Expenses

0.017

0.073

0.031

 

 

Auditors fees

0.019

0.049

0.000

 

 

Bank Commission

0.122

0.091

0.091

 

 

Bonus

0.038

0.052

0.039

 

 

Commission on Sales

1.562

1.338

1.277

 

 

Computer Expenses

0.019

0.077

0.046

 

 

Cooli

0.033

0.039

0.036

 

 

Computer AMC

0.000

0.000

0.011

 

 

Delivery charges

0.000

0.009

0.001

 

 

Discount & Rates

0.661

0.999

0.760

 

 

Diwali Expense

0.049

0.045

0.064

 

 

Gift Article

0.000

0.000

0.018

 

 

Generator Maintainance

0.010

0.007

0.010

 

 

Insurance

0.043

0.052

0.000

 

 

Internet Charges

0.027

0.012

0.016

 

 

Leave wages

0.000

0.001

0.000

 

 

Electricity Charges

0.000

0.000

0.104

 

 

License Fee

0.006

0.012

0.001

 

 

Light Charges

0.181

0.163

0.000

 

 

Loan Processing Fees

0.000

0.000

0.179

 

 

Local Conveyance

0.031

0.035

0.042

 

 

Local Auto Delivery Charges

0.000

0.000

0.541

 

 

Local Delivery Charges

0.761

0.756

0.000

 

 

Local Staff Allowances

0.069

0.086

0.072

 

 

Mess Expenses

0.000

0.003

0.030

 

 

Outward Lorry Freight charges

0.059

0.052

0.055

 

 

Packing Material

0.075

0.102

0.050

 

 

Post and Telephone

0.195

0.192

0.146

 

 

Repair and Maintenance

0.043

0.081

0.061

 

 

Salaries

0.834

0.877

0.717

 

 

Sales Promotion

0.000

0.026

0.004

 

 

Shop Insurance

0.000

0.000

0.034

 

 

Shop Expenses

0.192

0.142

0.111

 

 

Shop Rent

1.913

1.913

0.005

 

 

Software Renewal

0.008

0.010

0.000

 

 

Stationary and Printing

0.166

0.209

0.181

 

 

Travelling

0.031

0.045

0.098

 

 

Security

0.001

0.000

0.000

 

 

Vehical Maintence

0.515

0.409

0.355

 

 

Water Charges

0.066

0.053

0.014

 

 

Professional Tax

0.000

0.000

0.003

 

 

Rent

0.000

0.000

1.855

 

 

TOTAL                                    

348.744

385.427

351.888

 

 

 

 

 

 

PROFIT BEFORE INTEREST AND DEPRECIATION AND AMORTISATION

12.450

12.593

11.931

 

 

 

 

 

Less

FINANCIAL EXPENSES                       

10.955

10.845

10.510

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE DEPRECIATION AND AMORTISATION                      

1.495

1.748

1.421

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.305

0.318

0.237

 

 

 

 

 

 

NET PROFIT/ (LOSS)   

1.190

1.430

1.184

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

50.98

52.84

59.85

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

7.16

6.91

6.10

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

67.36

58.51

76.10

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.79

0.83

0.94

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

9.98

8.96

10.90

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.93

0.93

0.94

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

2.16

3.56

1.79

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

10.32

9.64

15.16

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.20

0.22

0.23

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.14

1.16

1.14

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

0.33

0.36

0.33

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

1.41

1.57

1.36

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

19.07

22.31

24.48

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.29

1.45

1.17

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.04

1.21

1.00

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.07

0.07

0.06

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

2.16

3.56

1.79

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.29

1.45

1.17

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

 

Particulars

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Capital Account

4.837

6.410

6.241

Reserves & Surplus

0.000

0.000

0.000

Net worth

4.837

6.410

6.241

Secured Loans

8.674

22.811

13.493

Unsecured Loans

0.000

0.000

0.000

Total borrowings

8.674

22.811

13.493

Debt/Equity ratio

1.793

3.559

2.162

 

 

 

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

362.498

396.020

359.461

 

 

9.247

-9.232

 

 

 

 

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

362.498

396.020

359.461

Profit

1.184

1.430

1.190

 

0.33%

0.36%

0.33%

 

 

 

 

 

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

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

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

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

Yes

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 four years

Yes

27

Reasons for variation <> 20%

Yes

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

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 :

BHARATH MEDICAL AND GENERAL AGENCIES

 

 

Address :

No. 1980B, 1st & 2nd Floor, 26th Cross, 9th Main Road, Bhansankari, Second Stage, Bangalore-560070, Karnataka, India

 

 

Person to whom we met:

Mr. Devendra (Security Guard)

 

 

Name Board :

Sighted

 

 

Location:

Easy

 

 

Total Floors of the Building :

2 Storey Building

 

 

Subject situated on:

Entire Premises Belongs to Subject

 

 

Locality:

Commercial cum Industrial

 

 

Area :

Neutral

 

 

Neighbours Interview :

During the site visit, our executive enquired with neighbour companies (Grid R & D and Yadava Samudaya Bhavana) and they confirmed that the subject is situated 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, 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

Indian Rupees

US Dollar

1

INR 68.08

UK Pound

1

INR 89.60

Euro

1

INR 78.83

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHA

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

IND

 

 

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.