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|
MIRA INFORM REPORT
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Report No. : |
507160 |
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Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
DRUVA SOFTWARE PRIVATE LIMITED (w.e.f. 29.10.2009) |
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Formerly Known
As : |
DRUVAA
SOFTWARE PRIVATE LIMITED |
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Registered
Office : |
Muttha Chambers II, Level VI, Senapati Bapat Marg, Pune – 411016,
Maharashtra |
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Tel. No.: |
91-20-67263300/ 67263351 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
25.01.2007 |
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Com. Reg. No.: |
11-129533 |
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Capital
Investment / Paid-up Capital : |
INR 0.629 Million |
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CIN No.: [Company Identification
No.] |
U72200PN2007PTC129533 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AACCD5703E1Z1 |
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TIN No.: |
27580630226 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCD5703E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The subject is engaged in Computer programming, consultancy and
Business support service activities.
[Registered Activity and also Confirmed by Management] |
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No. of Employees
: |
45 (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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2007. It is engaged in providing
programming, consultancy and business support service. For the financial year 2017, the company has reported a dip in its
revenue by 12.86% as compared to the previous year but has maintained an
average profit margin of 2.88%. The satisfactory financial risk profile of the company is marked by
adequate net worth base along with debt free balance sheet profile. Payment 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.
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 03.05.2018.
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. Kishan |
|
Designation : |
Finance Department |
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Contact No.: |
91-20-67263300 |
|
Date : |
02.05.2018 |
LOCATIONS
|
Registered/ Branch Office : |
Muttha Chambers II, Level VI, Senapati Bapat Marg, Pune – 411016,
Maharashtra, India |
|
Tel. No.: |
91-20-67263300/ 67263351 |
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Fax No.: |
91-20-67263356 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Milind Vithal Borate |
|
Designation : |
Director |
|
Address : |
686/1B, Chandrika Society, Bibwewadi Road, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
30.01.1972 |
|
Date of Appointment : |
25.02.2014 |
|
DIN No.: |
00270631 |
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|
|
|
Name : |
Mr. Sanjeev Upadhyay |
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Designation : |
Director |
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Address : |
F-214, Mahaveer Calyx Aparment, Nyanappanahalli, Bangalore – 560076, Karnataka, India |
|
Date of Appointment : |
20.09.2014 |
|
DIN No.: |
03593859 |
KEY EXECUTIVES
|
Name : |
Mr. Kishan |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Milind Borate |
|
6219 |
|
Druva Technologies Pte. Limited |
|
6228 |
|
Jaspreet Singh |
|
4784 |
|
Accord International (HK) |
|
700 |
|
Radhika Chopra |
|
220 |
|
Zarina Yar Khan |
|
198 |
|
Vikam Kant Upadhyaya |
|
161 |
|
Anand Apte |
|
261 |
|
Angelsoft Consultants LLP |
|
389 |
|
Sequola Capital India Investments Holdings III |
|
3994 |
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Nexus India Direct Investment III |
|
1711 |
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|
|
|
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Total |
|
24865 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Angelsoft Consultants LLP |
|
962 |
|
Sequola Capital India Investments Holdings III |
|
21195 |
|
Nexus India Direct Investment III |
|
15840 |
|
|
|
|
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Total |
|
37997 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
27.59 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Non-resident Indian (NRI) |
20.04 |
|
Public/Other than promoters - Body Corporate |
52.37 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject is engaged in Computer programming, consultancy and
Business support service activities.
[Registered Activity and also Confirmed by Management] |
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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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Exports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Advance Payment and Credit [30 Days] |
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Purchasing : |
Advance Payment and Credit [30 Days] |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Others [Corporate/ Institution]
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No. of Employees : |
45 (Approximately) |
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Bankers : |
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Facilities : |
--- |
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Auditors : |
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|
Name : |
Gudhate and Patankar Chartered Accountants |
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Address : |
4, Durvankur Apartments, 101, Mayur Colony, Kothrud, Pune – 411038,
Maharashtra, India |
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Tel. No.: |
91-20-25440016 |
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E-Mail : |
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PAN No.: |
AAKFG2280J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Under common control : |
· Druva Technologies Pte Limited, Singapore · Druva Data Solution Private Limited · Druva Europe Limited, UK · Druva Inc, USA |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
INR 10/- each |
INR 1.500 Million |
|
75000 |
Preference Shares |
INR 10/- each |
INR 0.750 Million |
|
|
Total
|
|
INR 2.250
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24865 |
Equity Shares |
INR 10/- each |
INR 0.249
Million |
|
37997 |
Preference Shares |
INR 10/- each |
INR 0.380 Million |
|
|
Total
|
|
INR 0.629
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
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|
(a) Share Capital |
0.629 |
0.629 |
0.629 |
|
(b) Reserves & Surplus |
8.237 |
8.697 |
8.026 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
8.866 |
9.326 |
8.655 |
|
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(3)
Non-Current Liabilities |
|
|
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|
(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 |
0.052 |
0.132 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.052 |
0.132 |
|
|
|
|
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|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
0.723 |
1.044 |
253.672 |
|
(c)
Other current liabilities |
0.151 |
0.192 |
0.123 |
|
(d)
Short-term provisions |
1.695 |
6.035 |
1.809 |
|
Total
Current Liabilities (4) |
2.569 |
7.271 |
255.604 |
|
|
|
|
|
|
TOTAL |
11.435 |
16.649 |
264.391 |
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
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|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.143 |
0.240 |
0.963 |
|
(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) |
0.259 |
0.987 |
0.688 |
|
(d) Long-term Loan
and Advances |
5.602 |
11.094 |
10.039 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
6.004 |
12.321 |
11.690 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d)
Cash and cash equivalents |
0.745 |
2.351 |
0.871 |
|
(e)
Short-term loans and advances |
0.025 |
0.130 |
0.136 |
|
(f)
Other current assets |
4.661 |
1.847 |
251.694 |
|
Total
Current Assets |
5.431 |
4.328 |
252.701 |
|
|
|
|
|
|
TOTAL |
11.435 |
16.649 |
264.391 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
11.193 |
12.846 |
17.935 |
|
|
|
Other Income |
0.150 |
0.062 |
0.559 |
|
|
|
TOTAL |
11.343 |
12.908 |
18.494 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
9.120 |
9.587 |
11.423 |
|
|
|
Other expenses |
1.472 |
1.592 |
4.810 |
|
|
|
Prior Period Adjustments |
(0.045) |
0.000 |
0.000 |
|
|
|
TOTAL |
10.547 |
11.179 |
16.233 |
|
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|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
0.796 |
1.729 |
2.261 |
|
|
|
|
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|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.014 |
0.001 |
0.009 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.782 |
1.728 |
2.252 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.098 |
0.723 |
0.924 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
0.684 |
1.005 |
1.328 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.361 |
0.334 |
0.505 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
0.323 |
0.671 |
0.823 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
12.97 |
26.97 |
33.10 |
|
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 |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
5.57 |
7.20 |
2.35 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.22 |
0.44 |
0.97 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.29 |
0.78 |
29.53 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.02 |
0.03 |
0.11 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
56.86 |
1729.00 |
251.22 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.89 |
5.22 |
4.59 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.82 |
4.03 |
0.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
3.64 |
7.19 |
9.51 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.11 |
0.60 |
0.99 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.11 |
0.60 |
0.99 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.78 |
0.56 |
0.03 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.11 |
0.60 |
0.99 |
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
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
0.629 |
0.629 |
0.629 |
|
Reserves & Surplus |
8.026 |
8.697 |
8.237 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
8.655 |
9.326 |
8.866 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
17.935 |
12.846 |
11.193 |
|
|
|
(28.375) |
(12.868) |
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 |
17.935 |
12.846 |
11.193 |
|
Profit |
0.823 |
0.671 |
0.323 |
|
|
4.59% |
5.22% |
2.89% |
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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% |
-- |
|
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 CHARGES: NO
CHARGES EXISTS FOR COMPANY
STATE OF COMPANYS
AFFARS :
During the year, the company achieved a total turnover of INR 11.343
Million as compared to the total turnover of INR 12.908 Million achieved during
the previous year.
After charging all expenses and taxes, the company gained a profit of
INR 0.323 Million during the year as compared to the profit INR 0.671 Million
during the previous year.
The directors are taking more efforts to improve the performance of the Company and are hopeful of an even better working in the current year.
CHANGE OF ADDRESS:
The Registered address of the company has been shifted from 210/1,
Symphony, Range Hills Road, Shivajinagar, Pune-411020, Maharashtra, India to
the present address w.e.f 01.10.2011
FIXED ASSETS:
Tangible Assets
· Furniture and Fixtures
· Computers
· Office Equipments
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 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 66.66 |
|
UK Pound |
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
RUB |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
IND |
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.