|
|
|
MIRA INFORM REPORT
|
Report No. : |
506901 |
|
Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SEIKEN PROPERTY DEVELOPERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.6/940, M.N.P.Q., Seiken Chambers, Kannur Road, Calicut-673001, Kerala |
|
Tel. No.: |
91-495-2761555 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
07.06.2001 |
|
|
|
|
Com. Reg. No.: |
09-014773 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70101KL2001PTC014773 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Applicable [As informed by the management that firm does not
have export and import] |
|
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|
TIN No.: |
32111593672 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
32AAICS2678D1ZF |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAICS2678D |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of Real Estate Activity.
[Registered Activity] |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2001 having moderate track
record. For the financial year ended 2017, the company has witnessed a growth
in its revenue. However, reported minimal profit margin at 0.08%(approx.) Rating also remains constrained on account of erosion of entire net
worth of the company and companys, presence in highly competitive real estate
industry. Payments are slow. In view of the aforesaid, the company can be considered for business
dealings on safe and secured 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 05.05.2018.
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 DECLINED BY
|
Name : |
Mr. Saleem Charalil Saithu |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9747075555 |
|
Date : |
02.05.2018 |
LOCATIONS
|
Registered Office : |
No.6/940, M.N.P.Q., Seiken Chambers, Kannur Road, Calicut-673001, Kerala, India |
|
Tel. No.: |
91-495-2761555 |
|
Mobile No.: |
91-9747075555 [Mr. Saleem Charalil Saithu] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Methale Kunnath Siraj |
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|
Designation : |
Director |
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|
Address : |
Royal Rose, Athanikkal West Hill, Calicut - 673005, Kerala, Indi |
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Date of Appointment : |
07.06.2004 |
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DIN No.: |
00164706 |
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Other Directorship :
|
|||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Saleem Charalil Saithu |
||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||
|
Address : |
A/15, Vrindavan Colony, Chevayoor, Kozhikode Dt, Kozhikode - 673013, Kerala, India |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
07.06.2004 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
01319738 |
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Other Directorship :
|
|||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Saleem Charalil Sithu |
|
300 |
|
Methale Kunnath Siraj |
|
300 |
|
Sakariya V K |
|
200 |
|
Shabnam Sakariya |
|
200 |
|
|
|
|
|
Total |
|
1000 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Real Estate Activity.
[Registered Activity] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Mohan and Mohan Associates Chartered Accountants |
|
Address : |
Karunalayam, Wynad Road, Calicut - 673001, Kerala, India |
|
Tel. No.: |
91-495-2765955/ 2768649/ 4022955 to 8/ 2766692 |
|
E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
ADKPG8820B |
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|
|
|
Memberships : |
Not Available |
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|
|
Collaborators : |
Not Available |
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|
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|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
INR 100/- each |
INR 15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
INR 100/- each |
INR 0.100 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 |
|
|
|
|
(a) Share Capital |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
(14.009) |
(14.049) |
2.049 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
(13.909) |
(13.949) |
2.149 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
9.605 |
23.457 |
20.875 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
1.262 |
1.516 |
1.757 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
10.867 |
24.973 |
22.632 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.350 |
|
(b)
Trade payables |
16.810 |
14.653 |
25.049 |
|
(c)
Other current liabilities |
106.804 |
88.737 |
94.515 |
|
(d)
Short-term provisions |
0.805 |
1.228 |
1.509 |
|
Total
Current Liabilities (4) |
124.419 |
104.618 |
121.423 |
|
|
|
|
|
|
TOTAL |
121.377 |
115.642 |
146.204 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.222 |
0.326 |
19.733 |
|
(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 |
0.081 |
0.081 |
0.081 |
|
(c) Deferred tax assets
(net) |
0.270 |
0.279 |
0.340 |
|
(d) Long-term Loan
and Advances |
21.573 |
21.205 |
17.647 |
|
(e)
Other Non-current assets |
|
|
|
|
Total
Non-Current Assets |
22.146 |
21.891 |
37.801 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
53.296 |
53.671 |
57.081 |
|
(c)
Trade receivables |
4.889 |
8.138 |
11.669 |
|
(d)
Cash and cash equivalents |
0.562 |
1.914 |
9.963 |
|
(e)
Short-term loans and advances |
26.087 |
25.638 |
29.690 |
|
(f)
Other current assets |
14.397 |
4.390 |
0.000 |
|
Total
Current Assets |
99.231 |
93.751 |
108.403 |
|
|
|
|
|
|
TOTAL |
121.377 |
115.642 |
146.204 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
45.981 |
14.552 |
8.748 |
|
|
|
Other Income |
0.610 |
5.229 |
0.128 |
|
|
|
TOTAL |
46.591 |
19.781 |
8.876 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
2.954 |
3.098 |
3.603 |
|
|
|
Construction expenses |
32.040 |
25.647 |
15.639 |
|
|
|
Other expenses |
9.604 |
4.543 |
2.210 |
|
|
|
TOTAL |
44.598 |
33.288 |
21.452 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1.993 |
(13.507) |
(12.576) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.810 |
1.971 |
3.557 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.183 |
(15.478) |
(16.133) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.134 |
0.520 |
0.242 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
0.049 |
(15.998) |
(16.375) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.009 |
0.061 |
(0.013) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
0.040 |
(16.059) |
(16.362) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
39.96 |
(16059.03) |
(16362.32) |
|
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 |
24.969 |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from Operating Activities |
24.969 |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
38.81 |
204.12 |
486.88 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
9.40 |
1.79 |
0.75 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.04 |
(0.25) |
(0.22) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
8.98 |
(41.43) |
(0.64) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
1.10 |
1.11 |
0.97 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
(0.69) |
(1.68) |
9.88 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
(8.95) |
(7.50) |
56.50 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
(0.02) |
(0.02) |
9.18 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.10 |
(6.85) |
(3.54) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.09 |
(110.36) |
(187.04) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.03 |
(13.89) |
(11.19) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(0.29) |
115.13 |
(761.38) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.80 |
0.90 |
0.89 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.37 |
0.38 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
(0.11) |
(0.12) |
0.01 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
96.05 |
234.57 |
212.25 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.80 |
0.90 |
0.89 |
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 |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
2.049 |
(14.049) |
(14.009) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2.149 |
(13.949) |
(13.909) |
|
|
|
|
|
|
long-term borrowings |
20.875 |
23.457 |
9.605 |
|
Short term borrowings |
0.350 |
0.000 |
0.000 |
|
Total
borrowings |
21.225 |
23.457 |
9.605 |
|
Debt/Equity
ratio |
9.877 |
(1.682) |
(0.691) |
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 |
8.748 |
14.552 |
45.981 |
|
|
|
66.347 |
215.977 |
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 |
8.748 |
14.552 |
45.981 |
|
Profit/(Loss) |
(16.362) |
(16.059) |
0.040 |
|
|
(187.04%) |
(110.36%) |
0.09% |
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 |
No |
|
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 |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C29666708 |
10525904 |
PUNJAB NATIONAL
BANK |
22/09/2014 |
- |
- |
47500000.0 |
ERANHIPALAMKOZHIKODEKL673006IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Siraj M K Loan-Muthoot |
(7.768) |
4.021 |
|
|
|
|
|
Total |
(7.768) |
4.021 |
FIXED ASSETS:
· Weat Wind Land
· Electrical Installation
· End-user Computer
· Furniture and Fixture
· Motor Vehicles and Car
· Office Equipment
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 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 66.77 |
|
UK Pound |
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
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.