|
|
|
MIRA INFORM REPORT
|
Report No. : |
497753 |
|
Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
KAVYA EXPORTS |
|
|
|
|
Registered
Office : |
7 – B, Hitex Industrial Estate, S.V. Road, Dahisar (East), Mumbai – 400068,
Maharashtra |
|
Tel. No.: |
91-22-64134446 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Year of
Establishment : |
April 2014 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 13.061 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0313075760 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AANFK3092M1ZQ |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AANFK3092M |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Trading, Exporting and Importing of Diamonds. (Confirmed by
management) |
|
|
|
|
No. of Employees
: |
04 (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 was established in the year 2014 as partnership firm and it is
having satisfactory track records. It is a trading, exporting and importing of diamonds. For the financial year 2017, the firm has marginal decreased in its
revenue from operations but maintained average profitability margin of 1.73%. Rating takes into consideration firm’s sound financial profile marked
by adequate capital base along with low debt balance sheet. However, rating strength is partially offset by highly intense
competition in diamond industry. Trade relations are reported as fair. Business is active. Payments are
slow but correct. The firm 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 16.03.2018
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. Kalpesh Bhanderi |
|
Designation : |
Partner |
|
Contact No.: |
91-9820777011 |
|
Date : |
15.03.2018 |
LOCATIONS
|
Registered Office : |
7 – B, Hitex Industrial Estate, S.V. Road, Dahisar (East), Mumbai – 400068,
Maharashtra, India |
|
Tel. No.: |
91-22-64134446 |
|
Mobile No.: |
91-9820777011 (Mr. Kalpesh Bhanderi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
PARTNERS
|
Name : |
Mr. Kalpesh R. Bhanderi |
|
Designation : |
Partner |
|
Address: |
1702, Sanghavi Exotica, Maratha Colony Road, Opposite Movie Gems, Dahisar East, Mumbai – 400068, Maharashtra,
India |
|
|
|
|
Name : |
Mr. Ramesh R. Bhanderi |
|
Designation : |
Partner |
|
Address: |
1702, Sanghavi Exotica, Maratha Colony Road, Opposite Movie Gems, Dahisar East, Mumbai – 400068, Maharashtra,
India |
|
|
|
|
Name : |
Mr. Jayantilal R. Bhanderi |
|
Designation : |
Partner |
|
Address: |
C/42, Sheetal Apartment, S.V.Road, Dahisar East, Mumbai – 400068, Maharashtra, India |
BUSINESS DETAILS
|
Line of Business : |
Trading, Exporting and Importing of Diamonds. (Confirmed by
management) |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Diamonds |
|
Countries : |
Hong Kong |
|
|
|
|
Imports : |
|
|
Products : |
Diamonds |
|
Countries : |
Belgium |
|
|
|
|
Terms : |
|
|
Selling : |
Advance Payment, L/C, Cheque and Credit (30/60/90 Days) |
|
|
|
|
Purchasing : |
Advance Payment, L/C, Cheque and Credit (30/60/90 Days) |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
04 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
V V Donga and Company Chartered Accountants |
|
Membership No: |
44420 |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Membership : |
Not Available |
|
|
|
|
Sister Concern : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2017
KAVYA EXPORTS
KALPESH R. BHANDERI R.H. BHANDERI CAPITAL ACCOUNT THE YEAR ENDED
31.03.2017
|
Particular |
Amount |
Particular |
Amount |
|
Withdrawals |
0.000 |
Balance
B/fd |
1.912 |
|
Income Tax |
0.120 |
Capital
Introduced |
1.170 |
|
TDS |
0.003 |
Share of profit |
0.513 |
|
Balance C/fd |
4.092 |
Remuneration |
0.620 |
|
|
4.215 |
|
4.215 |
RAMESH R. BHANDERI R.H. BHANDERI CAPITAL
ACCOUNT THE YEAR ENDED 31.03.2017
|
Particular |
Amount |
Particular |
Amount |
|
Withdrawals |
0.000 |
Balance
B/fd |
1.837 |
|
Income Tax |
0.120 |
Capital
Introduced |
0.600 |
|
TDS |
0.003 |
Share of profit |
0.513 |
|
Balance C/fd |
3.447 |
Remuneration |
0.620 |
|
|
3.570 |
|
3.570 |
JAYANTILAL R. BHANDERI R. H. BHANDERI CAPITAL ACCOUNT THE YEAR ENDED 31.03.2017
|
Particular |
Amount |
Particular |
Amount |
|
Withdrawals |
0.000 |
Balance
B/fd |
2.112 |
|
Income Tax |
0.120 |
Capital
Introduced |
2.400 |
|
TDS |
0.003 |
Share of profit |
0.513 |
|
Balance C/fd |
5.522 |
Remuneration |
0.620 |
|
|
5.645 |
|
5.645 |
FINANCIAL DATA
[all figures are
INR Million]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
EQUITY
AND LIABILITIES |
|
|
|
|
|
1] Partners Capital |
|
13.061 |
5.861 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
13.061 |
5.861 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
2.850 |
4.850 |
|
|
TOTAL BORROWING |
|
2.850 |
4.850 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
15.911 |
10.711 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.028 |
0.000 |
|
|
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 |
|
97.179 |
16.079 |
|
|
Sundry Debtors |
|
12.156 |
1.792 |
|
|
Cash & Bank Balances |
|
1.147 |
24.798 |
|
|
Other Current Assets |
|
1.080 |
0.361 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
111.562 |
43.030 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
76.722 |
31.633 |
|
|
Other Current Liabilities |
|
18.689 |
0.000 |
|
|
Provisions |
|
0.268 |
0.686 |
|
Total
Current Liabilities |
|
95.679 |
32.319 |
|
|
Net Current Assets |
|
15.883 |
10.711 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
15.911 |
10.711 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
88.716 |
96.002 |
|
|
Other Income |
|
1.414 |
0.000 |
|
|
TOTAL |
|
90.130 |
96.002 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost Of Good Sold |
|
75.570 |
86.730 |
|
|
Exchange Difference |
|
0.000 |
1.234 |
|
|
Labour Charges |
|
8.044 |
3.177 |
|
|
Conveyance Expense |
|
0.013 |
0.013 |
|
|
Clearing And Forwarding
Expenses |
|
0.127 |
0.085 |
|
|
Travelling Expenses |
|
0.392 |
0.383 |
|
|
Commission And Brokerage |
|
0.887 |
0.960 |
|
|
Telephone Expenses |
|
0.016 |
0.016 |
|
|
Interest On Od |
|
0.953 |
0.000 |
|
|
Assortment Expenses |
|
0.371 |
0.256 |
|
|
Sundry Expenses |
|
0.008 |
0.005 |
|
|
Remuneration To Partner |
|
1.860 |
0.000 |
|
|
Insurance Charges |
|
0.009 |
0.000 |
|
|
Membership Fees |
|
0.007 |
0.007 |
|
|
Audit Fees |
|
0.035 |
0.035 |
|
|
Vat Audit Fees |
|
0.029 |
0.029 |
|
|
Accounting Charges |
|
0.025 |
0.015 |
|
|
Professional Fees |
|
0.012 |
0.011 |
|
|
TOTAL |
|
88.358 |
92.956 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
1.772 |
3.046 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
0.233 |
0.637 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
1.539 |
2.409 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
1.539 |
2.409 |
Expected Sales (2017-2018): INR 150.000 Million
The above information has been parted by Mr. Kalpesh Bhanderi (Partner)
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
50.01 |
6.81 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
7.30 |
53.57 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
0.02 |
0.19 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
63.29 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
0.88 |
0.86 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
0.22 |
0.83 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
7.54 |
6.34 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
7.61 |
4.78 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
1.73 |
2.51 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
1.38 |
5.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
11.78 |
41.10 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
1.13 |
1.16 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
0.15 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
0.12 |
0.14 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
0.22 |
0.83 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
1.13 |
1.16 |
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 |
|
Partners Capital |
5.861 |
13.061 |
|
Reserves & Surplus |
0.000 |
0.000 |
|
Net worth |
5.861 |
13.061 |
|
|
|
|
|
Secured Loan |
0.000 |
0.000 |
|
Unsecured Loan |
4.850 |
2.850 |
|
Total borrowings |
4.850 |
2.850 |
|
Debt/Equity ratio |
0.828 |
0.218 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
|
Sales |
96.002 |
88.716 |
|
|
(7.589) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
|
Sales |
96.002 |
88.716 |
|
Profit/(Loss) |
2.409 |
1.539 |
|
|
2.51% |
1.73% |
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 |
No |
|
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 |
No |
|
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% |
-- |
|
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 |
DIAMOND INDUSTRY –
INDIA
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused strategies,
modern management and technology.
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
Excerpts from Times of India dated 30th October 2010 is as
under –
Gem and Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
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 64.98 |
|
|
1 |
INR 90.82 |
|
Euro |
1 |
INR 80.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
NKTS |
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 |
YES |
|
--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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.