|
|
|
MIRA INFORM REPORT
|
Report No. : |
495811 |
|
Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
BLUE SEA COMMODITIES |
|
|
|
|
Registered
Office : |
C-104, 1st Floor, Avirahi Prem Nagar, Avirahi, Shanti Garden
Road, Near Shanti Garden, Complex, Mira Road (East), Thane – 401107,
Maharashtra |
|
Mob No.: |
91-7303685696 (Mr. Mahesh Kinger) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Establishment : |
16.08.2014 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 9.224 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Applicable (As informed by the management that firm
does not have export and import) |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
27AAOFB2755P1ZS |
|
|
|
|
TIN No.: |
27541097012 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAOFB2755P |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Trader, dealer
and distributor of all types of steel products in infra and construction
firefighting equipment’s reprocessed plastic granules and LED lights products
and computer parts and accessories and also trading of fabric and chemicals.
[Confirmed by management] |
|
|
|
|
No. of Employees
: |
25 (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 : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a partnership firm established in the year 2014
and is having satisfactory track record. It is a trader, dealer and distributor of all types of steel products in infra
and construction firefighting equipment’s reprocessed plastic granules and
led lights products and computer parts and accessories and also trading of
fabric and chemicals. Mr. Mahesh Kinger (Chief Finance Officer) has provided
general information about the subject to us. Information based in this report is derived from our data
base record. For the financial year 2016, there has been massive growth
in its revenue by 700.84% but has reported low profit margin of 0.04%. The rating also takes into consideration firm’s average
financial profile with modest partner’s capital and debt free balance sheet
profile. Business is active. Payments seems to be slow but correct.
In view of aforesaid, the firm can be considered for
normal business dealings with 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
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 06.03.2018
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 (GENERAL DETAILS)
|
Name : |
Mr. Mahesh Kinger |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-7666182937 |
|
Date : |
06.03.2018 |
LOCATIONS
|
Registered Office : |
C-104, 1st Floor, Avirahi Prem Nagar, Avirahi, Shanti Garden
Road, Near Shanti Garden, Complex, Mira Road (East), Thane – 401107,
Maharashtra, India |
|
Tel. No.: |
91-22-40022937 |
|
Mobile No.: |
91-9004097822 (Mr. Vijay) 91-7666182937 (Mr. Mahesh Kinger) |
|
Fax No.: |
91-22-40022937 |
|
E-Mail : |
|
|
Area : |
600 sq. ft. |
|
Location : |
Rented |
|
Locality : |
Commercial |
|
|
|
|
Corporate Office : |
Office No.123, 12th Floor, Mittal Tower, A-Wing, Nariman Point,
Mumbai – 400201, Maharashtra, India |
|
Location : |
Rented |
|
Locality : |
Commercial |
|
|
|
|
Warehouse 1 : |
Jai Mata Di Compound, Bhiwandi, Maharashtra, India |
|
Area : |
2000 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Warehouse 2 : |
Arihant Compound, Bhiwandi, Maharashtra, India |
|
|
|
|
Warehouse 3 : |
Kalamboli, Navi Mumbai, Maharashtra, India |
|
|
|
|
Warehouse 4 : |
Building No. 5, Gala No. 23/A, Dapada Road, Shuddhinath Complex,
Bhiwandi, Thane – 421302, Maharashtra, India |
|
|
|
|
Warehouse 5 : |
Gala No. 4, Ground Floor, Munshi Compound, Kashimira Shalimar Road,
Mira Road (East), Thane – 401107, Maharashtra, India |
PARTNERS
|
Name : |
Mr. Mohan Nihalani |
|
Designation : |
Partner |
|
Address : |
Andheri (East), Mumbai, Maharashtra, India |
|
Date of Birth/ Age : |
61 years |
|
Qualification : |
B. Com |
|
|
|
|
Name : |
Mrs. Riya Kinger |
|
Designation : |
Partner |
|
Address : |
Mira Road (East), Thane, Maharashtra, India |
|
Date of Birth/ Age : |
61 years |
|
Qualification : |
B. Com |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh Kinger |
|
Designation : |
Chief Finance Officer |
BUSINESS DETAILS
|
Line of Business : |
Trader,
dealer and distributor of all types of steel products in infra and construction
firefighting equipment’s reprocessed plastic granules and LED lights products
and computer parts and accessories and also trading of fabric and chemicals.
[Confirmed by management] |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Advance Payment and Cheque |
|
|
|
|
Purchasing : |
L/C, Advance Payment and Cheque |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Retailers and End Users
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
No. of Employees : |
25 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Harish Sampath Chartered Accountant |
|
Address : |
Kalbadevi, Mumbai, Maharashtra, India |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Membership : |
Not Available |
|
|
|
|
Sister Concern : |
Blue Sea Commodities Private Limited, Mumbai, Maharashtra, India Line of business: Trading |
CAPITAL STRUCTURE
AS ON 31.03.2016
|
PARTICULARS |
INR in Million |
|
|
PARTNER’S CAPITAL ACCOUNT |
|
|
|
|
|
|
|
Mohandas Nihalani |
2.500 |
|
|
Riya Kinger |
2.500 |
|
|
Total [A] |
|
5.000 |
|
|
|
|
|
PARTNER’S CURRENT ACCOUNT |
|
|
|
|
|
|
|
Mohandas
Nihalani |
|
|
|
Opening Balance |
0.396 |
|
|
Add: Addition
during year |
0.000 |
|
|
Add: Profit during
year |
0.816 |
|
|
Add:
Remuneration during year |
0.900 |
|
|
Less: Withdrawal
during year |
0.000 |
|
|
Total [B] |
|
2.112 |
|
Riya Kinger |
|
|
|
Opening Balance |
0.396 |
|
|
Add: Addition
during year |
0.000 |
|
|
Add: Profit
during year |
0.816 |
|
|
Add:
Remuneration during year |
0.900 |
|
|
Less: Withdrawal
during year |
0.000 |
|
|
Total [C] |
|
2.112 |
|
|
|
|
|
TOTAL [A+B+C] |
|
9.224 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF
FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
EQUITY AND LIABILITIES |
|
|
|
|
|
1] Partner’s Capital Account |
|
5.000 |
0.992 |
|
|
2] Partner’s Current Account |
|
4.224 |
0.000 |
|
|
3] Share Application Money |
|
0.000 |
0.000 |
|
|
4] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
5] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
9.224 |
0.992 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL
BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
9.224 |
0.992 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
72.751 |
36.640 |
|
|
Sundry Debtors |
|
1244.054 |
443.525 |
|
|
Cash & Bank Balances |
|
11.777 |
1.166 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
69.512 |
2.182 |
|
Total Current Assets |
|
1398.094 |
483.513 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1385.417 |
481.695 |
|
|
Other Current Liabilities |
|
2.317 |
0.420 |
|
|
Provisions |
|
1.136 |
0.406 |
|
Total Current Liabilities |
|
1388.870 |
482.521 |
|
|
Net Current
Assets |
|
9.224 |
0.992 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
9.224 |
0.992 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
4402.805 |
550.224 |
|
|
Other Income |
|
0.000 |
1.410 |
|
|
TOTAL |
|
4402.805 |
551.634 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost
of goods sold |
|
4375.717 |
549.545 |
|
|
Freight charges |
|
4.553 |
0.000 |
|
|
Audit fees |
|
0.025 |
0.000 |
|
|
Business promotion |
|
0.376 |
0.000 |
|
|
Advance LC charges |
|
0.050 |
0.200 |
|
|
Conveyance expenses |
|
1.178 |
0.000 |
|
|
Electricity expenses |
|
0.338 |
0.007 |
|
|
Printing and stationery |
|
0.406 |
0.000 |
|
|
Loading and unloading expenses |
|
1.598 |
0.000 |
|
|
Salary expenses |
|
2.480 |
0.000 |
|
|
Staff welfare expenses |
|
0.560 |
0.000 |
|
|
Telecommunication expenses |
|
0.116 |
0.000 |
|
|
LC discounting charges |
|
0.106 |
0.000 |
|
|
LC negotiation interest |
|
6.009 |
0.000 |
|
|
Office expenses |
|
0.910 |
0.000 |
|
|
Trade discount given |
|
2.011 |
0.000 |
|
|
Travelling expenses |
|
0.569 |
0.000 |
|
|
Boarding and lodging |
|
0.759 |
0.000 |
|
|
Partners remuneration |
|
1.800 |
0.000 |
|
|
Food and beverages |
|
0.000 |
0.029 |
|
|
Miscellaneous charges |
|
0.000 |
0.117 |
|
|
Professional fees |
|
0.140 |
0.012 |
|
|
Rent |
|
0.360 |
0.080 |
|
|
Salary – Mohan Nihalani |
|
0.000 |
0.100 |
|
|
Salary – Ayaz |
|
0.000 |
0.120 |
|
|
Salary – Fayaz |
|
0.000 |
0.120 |
|
|
Salary – Riya Kinger |
|
0.000 |
0.100 |
|
|
Indirect Expenses |
|
0.000 |
0.000 |
|
|
Administrative expenses |
|
0.000 |
0.000 |
|
|
TOTAL |
|
4400.061 |
550.430 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST,
TAX, DEPRECIATION AND AMORTISATION |
|
2.744 |
1.204 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
0.382 |
0.006 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
|
2.362 |
1.198 |
|
|
|
|
|
|
|
Less |
TAX |
|
0.730 |
0.406 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
|
1.632 |
0.792 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
103.13 |
294.22 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
3.54 |
1.24 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
115.56 |
319.93 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
0.04 |
0.03 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
0.99 |
1.00 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
150.57 |
486.41 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
7.18 |
200.67 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
0.04 |
0.14 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
0.12 |
0.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
17.69 |
79.84 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
1.01 |
1.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
0.95 |
0.93 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
0.01 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
1.01 |
1.00 |
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 |
|
|
|
INR
In Million |
INR In
Million |
|
Partner’s Capital Account |
|
0.992 |
5.000 |
|
Partner’s Current Account |
|
0.000 |
4.224 |
|
Reserves & Surplus |
|
0.000 |
0.000 |
|
Net
worth |
|
0.992 |
9.224 |
|
|
|
|
|
|
Secured Loans |
|
0.000 |
0.000 |
|
Unsecured Loans |
|
0.000 |
0.000 |
|
Total
borrowings |
|
0.000 |
0.000 |
|
Debt/Equity
ratio |
|
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2015 |
31.03.2016 |
|
|
|
INR
In Million |
INR
In Million |
|
Sales
|
|
550.224 |
4402.805 |
|
|
|
|
700.184 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2015 |
31.03.2016 |
|
|
|
INR
In Million |
INR
In Million |
|
Sales
|
|
550.224 |
4402.805 |
|
Profit |
|
0.792 |
1.632 |
|
|
|
0.14% |
0.04% |
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 |
-- |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
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 |
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 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 65.05 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
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.