|
|
|
%2003-Mar-2018_files/image013.jpg){kind=small}
%2003-Mar-2018_files/image014.jpg)
%2003-Mar-2018_files/image016.gif)
MIRA INFORM REPORT
|
Report No. : |
491613.2 |
|
Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SKILLMAN FASHIONS |
|
|
|
|
Registered
Office : |
No.22/1, 1st Street, Perichipalayam North, Dharapuram Road, District: Coimbatore Tirupur – 641608, Tamilnadu |
|
Mobile No.: |
91-9789484824 (Mr. Saravanan) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Year of
Establishment : |
2013 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 3.566 Million |
|
|
|
|
IEC No.: |
3214001671 |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
GSTIN : |
33ACKFS3661F1Z4 |
|
|
|
|
PAN No.: [Permanent Account No.] |
ACKFS3661F |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Manufacturer of Knitted Cotton, Poly Cotton
and Garments. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
27 (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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a partnership concern established in the year 2013 having satisfactory track record. It is engaged as manufacturer of knitted cotton, poly cotton garments. For the financial year 2017, the concern has achieved marginal growth in its revenue as compared to its previous year along with fair profit margin of during the year. Rating takes into consideration the satisfactory financial risk profile marked by comfortable capital structure along with ideal debt protection metrics. Offsetting these strengths the concern faces intense competition from local ad other large international players in the retail garment industry. Payments seems to be usually correct. In view of aforesaid, the concern can considered for business dealings at usual trade terms and conditions. Note: Site visit was conducted at the given address and our executive have successfully traced the subject. At the premises our executive met Security Guard (Name not Divulged) confirmed the existence of the subject on the given address. As per our executive’s observation, it is ground + 1 floor building and the subject is situated on 1st floor and the area of the premises is 4000 SQ.FT. Location was difficult to find, locality seems to be commercial and area near the premise building seems to be neutral. Further, our executive have sighted approximately 9 employees and sighted furniture items. Even, the name board of the subject was sighted at the given premise address. On inquiry with Mr. Kathiravan from “Shyamala Collar Textiles” and Mr. Selvam from “Twowin Exports” both persons from neighbouring companies confirmed the existence of the subject on the given address. |
NOTES : Any query related to this
report can be made on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
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
|
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 03.03.2018
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. Saravanan |
|
Designation : |
Partner |
|
Contact No.: |
91-9789484824 |
|
Date : |
20.02.2018 |
LOCATIONS
|
Registered Office / Factory : |
No.22/1, 1st Street, Perichipalayam North, Dharapuram Road, District: Coimbatore Tirupur – 641608, Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9789484824 (Mr. Saravanan) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
4000 Sq.ft |
|
Location : |
Owned |
|
Locality : |
Commercial |
PARTNERS
|
Name : |
Mr. Ganesan Saravanan |
|
Designation : |
Partner |
|
Address : |
No. 55A, 4th Street, Swarnpuri Enclave, 15-Velampalayam,
Tirupur – 641652, Tamilnadu, India |
|
PAN No: |
BAZPS6078J |
|
|
|
|
Name : |
Mr. Kannimuthu |
|
Designation : |
Partner |
|
Address : |
No. 4/31, Ramayanam Thottam, Palanigound Anpalayam, Nthgound Anpalayam
Post, Palladam TK – 641671, Tamilnadu, India |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Knitted Cotton, Poly Cotton
and Garments. (Confirmed by management) |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque |
|
|
|
|
Purchasing : |
Cheque |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers
|
||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
No. of Employees : |
27 (Approximately) |
||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
||||||
|
Name : |
Prakash and Associates Chartered Accountants |
||||||
|
Address : |
No.421, 2nd Floor, PN Road, Opposite SPS Store, Tirupur – 641602, Tamilnadu, India |
||||||
|
Membership No : |
225814 |
||||||
|
|
|
||||||
|
Collaborators : |
Not Available |
||||||
|
|
|
||||||
|
Membership : |
Not Available |
||||||
|
|
|
||||||
|
Sister Concern : |
|
CAPITAL STRUCTURE
As on 31.03.2017
PARTNER’S CAPITAL
ACCOUNT
(INR in Million)
|
PARTICULARS |
AMOUNT |
|
G. Saravanan |
0.500 |
|
K. Saravanan |
0.500 |
|
Total : |
1.000 |
PARTNER’S CURRENT
ACCOUNT
(INR in Million)
|
PARTICULARS |
AMOUNT |
|
G. Saravanan |
1.283 |
|
K. Saravanan |
1.283 |
|
Total : |
2.566 |
FINANCIAL DATA
[all figures are INR
Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
1.000 |
1.000 |
|
|
2] Partner’s Current Account |
|
2.566 |
2.397 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
3.567 |
3.397 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
2.291 |
2.063 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL
BORROWING |
|
2.291 |
2.063 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.858 |
5.460 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.285 |
0.269 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
2.309 |
3.860 |
|
|
Sundry Debtors |
|
6.912 |
7.608 |
|
|
Cash & Bank Balances |
|
0.288 |
0.111 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.501 |
0.481 |
|
Total
Current Assets |
|
10.010 |
12.060 |
|
|
Less : CURRENT LIABILITIES &
PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
4.214 |
6.687 |
|
|
Other Current Liabilities |
|
0.000 |
0.182 |
|
|
Provisions |
|
0.223 |
0.000 |
|
Total
Current Liabilities |
|
4.437 |
6.869 |
|
|
Net
Current Assets |
|
5.573 |
5.191 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.858 |
5.460 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
47.400 |
28.984 |
|
|
Other Income |
|
0.000 |
1.308 |
|
|
TOTAL
|
|
47.400 |
30.292 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
16.358 |
6.499 |
|
|
Direct Expenses |
|
27.591 |
20.658 |
|
|
Audit fees |
|
0.035 |
0.035 |
|
|
Bonus |
|
0.549 |
0.515 |
|
|
Building Maintenance |
|
0.512 |
0.000 |
|
|
Computer Maintenance |
|
0.004 |
0.000 |
|
|
Documentation Charges |
|
0.011 |
0.047 |
|
|
Electrical Maintenance |
|
0.011 |
0.032 |
|
|
Fright charges |
|
0.023 |
0.000 |
|
|
general expenses |
|
0.054 |
0.005 |
|
|
Inspection Charges |
|
0.002 |
0.000 |
|
|
Lab Testing Charges |
|
0.045 |
0.000 |
|
|
Machinery Maintenance |
|
0.085 |
0.123 |
|
|
Printing and Stationery
Expenses |
|
0.028 |
0.027 |
|
|
Rent |
|
0.180 |
0.158 |
|
|
Salary |
|
0.855 |
0.790 |
|
|
Partner Salary |
|
0.000 |
0.480 |
|
|
Telephone |
|
0.043 |
0.042 |
|
|
Travelling |
|
0.030 |
0.028 |
|
|
Vehicle |
|
0.035 |
0.033 |
|
|
Partners Appropriation
Expenses |
|
0.480 |
0.000 |
|
|
Discount and Rebate |
|
0.000 |
0.025 |
|
|
Forwarding Charges |
|
0.000 |
0.173 |
|
|
Reversal credit |
|
0.000 |
0.032 |
|
|
Postage and courier |
|
0.000 |
0.037 |
|
|
Subscription Expenses |
|
0.000 |
0.006 |
|
|
Interest on Capital |
|
0.120 |
0.120 |
|
|
TOTAL |
|
47.051 |
29.865 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
0.349 |
0.427 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.240 |
0.295 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.109 |
0.132 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
0.055 |
0.080 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) FOR THE YEAR |
|
0.054 |
0.052 |
Expected Sales (2017-2018): INR 70.000 Million (Due to business growth)
The above information has been parted by Mr. Ganesan Saravanan
(Partner)
Note: Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Operating Income * 365
Days) |
|
53.23 |
95.81 |
|
|
|
|
|
|
Account Receivables Turnover (Operating Income
/ Sundry Debtors) |
|
6.86 |
3.81 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
94.03 |
375.56 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
0.15 |
0.11 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
1.22 |
1.59 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
0.65 |
0.72 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
0.64 |
0.61 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
1.24 |
2.02 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
0.08 |
0.08 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
1.45 |
1.45 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT
/ Sales) * 100) |
% |
|
0.11 |
0.18 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
0.52 |
0.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
1.51 |
1.53 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
2.26 |
1.76 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
1.74 |
1.19 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
0.35 |
0.28 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
0.64 |
0.61 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
2.26 |
1.76 |
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 |
|
31.03.2016 |
31.03.2017 |
|
|
|
INR
In Million |
INR
In Million |
|
Partner’s Capital Account |
|
3.397 |
3.567 |
|
Partner’s Current Account |
|
0.000 |
0.000 |
|
Money received against share
warrants |
|
0.000 |
0.000 |
|
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Net
worth |
|
3.397 |
3.567 |
|
|
|
|
|
|
Secured borrowings |
|
2.063 |
2.291 |
|
Unsecured borrowings |
|
0.000 |
0.000 |
|
Total
borrowings |
|
2.063 |
2.291 |
|
Debt/Equity
ratio |
|
0.607 |
0.642 |
%2003-Mar-2018_files/image018.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2016 |
31.03.2017 |
|
|
|
INR
In Million |
INR
In Million |
|
Sales Turnover (Approximately) |
|
28.984 |
47.400 |
|
|
|
|
63.539 |
%2003-Mar-2018_files/image020.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2016 |
31.03.2017 |
|
|
|
(INR
in Million) |
(INR
in Million) |
|
Sales |
|
28.984 |
47.400 |
|
Profit |
|
0.052 |
0.054 |
|
|
|
0.18% |
0.11% |
%2003-Mar-2018_files/image022.gif)
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 |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
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 |
No |
|
26 |
Turnover of firm for last two years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last two 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 : |
SKILLMAN FASHIONS |
|
|
|
|
Address : |
No.22/1, 1st Street, Perichipalayam North, Dharapuram Road, District: Coimbatore Tirupur – 641608, Tamilnadu, India |
|
|
|
|
Person to whom we met: |
Security (Name not
Divulged) |
|
|
|
|
Name Board: |
Sighted |
|
|
|
|
Location: |
Difficult |
|
|
|
|
Total Floors of the building: |
Ground + 1 Floor |
|
|
|
|
Subject situated on : |
1 Floor |
|
|
|
|
Locality: |
Commercial |
|
|
|
|
Area of premises : |
4000 Sq.ft |
|
|
|
|
Area: |
Neutral |
|
|
|
|
No. of employee
seen at premises : |
09 |
|
|
|
|
Furniture items
sighted : |
Table, Chair,
Sewing Machines |
|
|
|
|
Neighbor’s
Interview : |
|
|
Name of Company
1: |
Shyamala Collar Textiles |
|
Contact Person
Name: |
Mr. Kathiravan |
|
|
|
|
Name of Company
2: |
Twowin Exports |
|
Contact Person
Name : |
Mr. Selvam |
|
|
|
|
Proof of visit: |
Photographs |
FIXED ASSETS
- Computer
- Electrical
Fittings
- Furniture and
Fittings
- Machinery
- UPS
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 65.23 |
|
UK Pound |
1 |
INR 89.70 |
|
Euro |
1 |
INR 79.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
TRUP |
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 |
YES |
|
--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.