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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

504104

Report Date :

15.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

S.K. SPRING CO.

 

 

Registered Office :

Behrampur Industrial Area, Begampur Khatola Road, 38th Mile Stone, Delhi-Jaipur Highway, Village Khandsa, Gurugram – 122004, Haryana

Tel. No.:

91-124–2215025/ 26

Website :

www.skspring.com

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

28.02.1983

 

 

Capital Investment / Paid-up Capital :

INR 140.733 Lacs

 

 

IEC No.:

[Import-Export Code No.]

0505095149

 

 

TIN No.:

06681912324

 

 

PAN No.:

[Permanent Account No.]

AAWPG2569A

 

 

GSTIN :

[Goods & Service Tax Registration No.]

06AAWPG2569A1ZP

 

 

 

Shop & Establishment Certificate No.

---

 

 

Udyog Aadhar No.:

HR05B0002496  

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Manufacturing and Exporting of Springs, Sheet Metal Components, Filters and Filter Parts.

 

 

No. of Employees :

80 (Approximately)

 

 

RATING & COMMENTS

 

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 proprietary concern established in the year 1983.

 

The concern is a manufacturer and exporter of springs, sheet metal components, filters and filter parts.

 

As per the financial records of 2017, the concern has achieved concern has achieved a fair growth of 11.06% in its revenue as compared to the previous year along with an average profitability margin of 2.59%.

 

The concern possesses satisfactory financial position marked by sufficient capital base along with acceptable debt balance sheet profile.

 

Payment seems to be usually correct.

 

In view of aforesaid, the concern can be considered for business dealings at usual trade terms and condition.

 

NOTE:

 

Site visit was conducted at the address- Behrampur Industrial Area, Begampur Khatola Road, 38th Mile Stone, Jaipur Highway, Khandsa Gurugram, 122004 and our executive has successfully traced the subject in the said address. 

 

At the premises our executive met Mr. Sunil Kumar (Finance Head) and he provided the hard copy of all the documents.

 

During the visit our executive inquired with the neighbour companies- MOD Serap Industries and Prerna Rex Private Limited and they both confirmed the subject’s existence on the said address.

 

As per our executive’s observation, it is a 2 storey building and the whole premise belongs to the subject. Location was difficult to find. Locality appears to be industrial. Area seems to be neutral. Area of premises is 26000 sq. ft. Level of operation is medium. 80 employees were sighted in the premises. Name board of the subject was sighted at the said 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

(30.09.2017)

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 31-03-2018.

 

 

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 15.05.2018

 

 

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

 

Name :

Mrs. Sureshkumari Surender Kumar Gandhi

Designation :

Proprietor

Contact No.:

91-9811144555

Date :

10.05.2018

 

 

LOCATIONS

 

Registered Office / Factory:

Behrampur Industrial Area, Begampur Khatola Road, 38th Milestone, Delhi-Jaipur Highway, Village Khandsa, Gurugram – 122004, Haryana, India

Tel. No.:

91-124 – 2215025/ 26

Mobile No.:

91-9811144555 (Mrs. Sureshkumari Surender Kumar Gandhi)

E-Mail :

info@skspring.com

finance@skspring.com

Website :

www.skspring.com

Area:

26000 sq. ft. (At site)

Locality:

Industrial (At site)

 

 

 

 

SOLE PROPRIETOR

 

Name :

Mrs. Sureshkumari Surender Kumar Gandhi

Designation :

Proprietor

Address :

B-514, Sushant Lok-1, Near Raddison Hotel, Gallaria DLF-IV, Farrukhnagar, Gurugram – 122009, Haryana, India

Date of Birth/Age :

02.08.1959

PAN No.:

AAWPG2569A

Aadhaar No:

8596 0970 0537

 

 

DETAILS OF GROUP COMPANIES

 

Nil

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing and Exporting of Springs, Sheet Metal Components, Filters and Filter Parts.

 

 

Products and Services:
  • Springs
  • Sheet Metal Components
  • Filters and Filter Parts
  • Fire Forms

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Saudi Arabia
  • United States of America

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Agencies Held :

--

 

 

Terms :

 

Selling :

Cash and L/C

 

 

Purchasing :

Cash, Credit and L/C

 

 

GENERAL INFORMATION

 

Suppliers :

 

  • DP Wire
  • Laksh Steel
  • Usha Martin Limited

 

 

Customers :

Wholesalers, Retailers and End Users

 

 

  • Endurance, Pantnagar
  • Mahle Filter Systems (India) Private Limited, Gurugram
  • Somic ZF Components Private Limited, Gurugram

 

 

No. of Employees :

80 (Approximately)

 

 

Bankers :

Banker Name :

HDFC Bank Limited

Branch :

Opposite Sector 10/A, Khandsa Road, Gurugram – 122001, Haryana, India

Name of the Relationship manager

Mr. Sunil Kumar Yadav

Mobile No:

91-9911000493

Account Type:

Current Account

Contact Number :

91-124-3938183

Name of Account Holder :

S.K. Spring Co.

Account Number :

50200019311862

MICR No.

110240139

IFSC / NEFT Code

HDFC0001002

Branch Code

001002

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

HDFC Bank Fortuner Car Loan A/C 24255769

4.714

8.623

HDFC Bank Verna Car Loan A/C21938513

0.850

3.222

Kotak Mahindra Bank Car Loan CF - 10077169

14.174

20.537

Kotak Mahindra Vehicle Loan LCV 191540

(0.119)

1.445

Kotak Mahindra LCV Loan A/C

0.000

1.163

Canara Bank Term Loan A/C 2783766000011

0.000

0.001

Canara Bank Term Loan A/C No.2783766000009

20.375

22.263

Term Loan D.G. Set 82478386

4.560

 

Deutche Bank Lap A/C 300021892120019

84.537

87.819

Total

129.091

145.073

 

Auditors :

 

Name :

Praveen Garg and Associates

Chartered Accountants

Address :

Gurugram, Haryana, India

Memberships No:

501697

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

---

 

 

LITIGATIONS

 

NIL

 

 

CAPITAL STRUCTURE

 

As on: 31.03.2017

 

Particular

Amount (INR Lacs)

Opening Balance

116.912

Add: Additional

25.000

Add: Profit for the year

43.214

Less: Withdrawal

(44.493)

Total

140.733

 

 

 

 

FINANCIAL DATA

[all figures are INR Lacs]

 

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

PROPRIETOR FUNDS

 

 

 

1] Proprietor Capital

140.733

116.913

116.106

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.000

0.000

0.000

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

140.733

116.913

116.106

LOAN FUNDS

 

 

 

1] Secured Loans

129.091

145.073

166.398

2] Unsecured Loans

24.873

33.873

46.350

3] Bank Overdraft

113.907

92.710

71.765

TOTAL BORROWING

267.871

271.656

284.513

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

408.604

388.569

400.619

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

261.298

274.017

274.136

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

105.684

71.505

42.939

 

Sundry Debtors

302.363

275.164

209.305

 

Cash & Bank Balances

2.983

6.458

10.214

 

Other Current Assets

2.874

6.509

11.335

 

Sundry Deposits & Advances

32.494

29.293

21.894

Total Current Assets

446.398

388.929

295.687

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

275.830

255.941

151.855

 

Other Current Liabilities

23.262

18.436

17.349

Total Current Liabilities

299.092

274.377

169.204

Net Current Assets

147.306

114.552

126.483

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

408.604

388.569

400.619

 

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

1666.874

1500.817

1429.209

 

Other Income

3.297

6.925

4.403

 

TOTAL

1670.171

1507.742

1433.612

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Goods Sold

1017.148

961.000

966.715

 

Electric Expenses

62.998

63.148

47.790

 

Freight and Cartage

3.181

5.789

4.484

 

Generator Running and Maintenance

26.511

17.703

12.746

 

Excise Duty Paid

167.447

149.124

124.676

 

Job Work Paid

49.115

14.128

20.157

 

Tools and Consumables

29.119

13.298

11.351

 

Godown Rent

5.250

0.000

0.000

 

Testing Charges

1.192

1.611

0.311

 

Wages and Salary

41.947

38.742

20.064

 

Audit Fees

0.240

0.240

0.240

 

Advertising

0.239

4.322

2.605

 

Sales Promotion

3.664

4.302

1.765

 

Conveyance Expenses

1.535

1.995

2.795

 

Diwali Expenses

4.007

3.435

3.528

 

ESI Charges

0.940

1.122

0.925

 

Fees and Subscription

1.361

1.356

1.207

 

Freight Cartage Onward

38.110

19.274

11.975

 

Insurance Charges

0.628

2.531

2.790

 

Miscellaneous Charges

0.616

3.311

6.111

 

General Charges

0.383

0.255

0.000

 

Rejection/ Segregation

3.645

1.652

2.523

 

Postage and Courier

0.528

0.370

0.316

 

Printing and Stationery

1.744

1.998

1.949

 

Consultancy Charges

1.553

0.000

0.000

 

Legal and Professional Charges

2.520

3.993

1.880

 

Rates, Taxes and Penalty

0.776

0.000

0.000

 

Packing Expenses

0.255

0.195

0.160

 

Provident Fund Control

3.622

3.430

2.265

 

Rebate, Discount

8.628

3.560

1.277

 

Rent, Rates and Taxes

3.048

0.000

0.000

 

Short Excess Recovery

0.178

0.176

0.016

 

Custom Duty

0.315

0.405

1.230

 

Excise Duty Demand

2.141

0.000

0.000

 

Cutting Charges

0.095

0.065

0.267

 

Rent-Parwanoo, Aurangabad

2.800

2.550

1.750

 

Repair and Maintenance Machine

8.003

5.742

3.623

 

Computer Repair and Maintenance

0.302

0.618

0.806

 

Repair and Maintenance Electric

2.867

2.609

3.514

 

Repair and Maintenance Others

2.867

1.566

0.787

 

Repair and Maintenance Building

4.351

3.482

1.531

 

Staff Welfare

1.525

2.781

1.744

 

Salary

28.301

17.005

28.653

 

Loading and Unloading Charges

4.139

1.630

1.247

 

Security and Guard

4.198

4.420

4.100

 

Labour Welfare

1.431

2.155

1.645

 

Medical Expenses

0.534

0.000

0.000

 

Telephone Expenses

2.560

2.739

1.531

 

Travelling Expenses

3.659

7.566

5.214

 

Vehicle Running and Maintenance

5.264

5.876

4.448

 

Charity and Donation

0.032

0.051

0.000

 

Bonus

0.000

4.126

4.065

 

Calibration Charges

0.000

0.307

0.356

 

Conference Expenses

0.000

3.887

1.012

 

Gratuity to Employee

0.000

0.182

0.000

 

Price Reduction

0.000

1.981

0.000

 

Training and Recruitment

0.000

0.366

0.562

 

Additional Vat

0.000

0.762

0.521

 

Commission Charges

0.000

0.000

0.500

 

Web Design

0.175

0.000

0.000

 

TOTAL

1557.687

1394.931

1321.727

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST AND AMORTISATION

112.484

112.811

111.885

 

 

 

 

 

Less

FINANCIAL EXPENSES

26.570

25.487

27.194

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE DEPRECIATION

85.914

87.324

84.691

 

 

 

 

 

Less

DEPRECIATION

42.700

45.171

42.925

 

 

 

 

 

 

NET PROFIT

43.214

42.153

41.766

 

 

 

 

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

66.21

66.92

53.45

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

5.51

5.45

6.83

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

98.98

97.21

57.34

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

1.06

1.58

2.61

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.43

0.41

0.41

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.80

0.82

0.80

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.90

2.32

2.45

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

2.30

2.64

1.86

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.86

2.34

2.36

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

4.23

4.43

4.11

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

2.59

2.81

2.92

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

6.11

6.36

7.33

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

30.71

36.06

35.97

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.38

1.26

1.37

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.05

1.03

1.17

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.20

0.18

0.20

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

1.90

2.32

2.45

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.38

1.26

1.37

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are INR Lacs]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In lacs

INR In lacs

INR In lacs

Proprietor’s Account

116.106

116.913

140.733

Reserves & Surplus

0.000

0.000

0.000

Net worth

116.106

116.913

140.733

 

 

 

 

Secured Loans

166.398

145.073

129.091

Unsecured Loans

46.350

33.873

24.873

Bank Overdraft

71.765

92.710

113.907

Total borrowings

284.513

271.656

267.871

Debt/Equity ratio

2.450

2.324

1.903

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In lacs

INR In lacs

INR In lacs

Sales

1429.209

1500.817

1666.874

 

 

5.010

11.064

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In lacs

INR In lacs

INR In lacs

Sales

1429.209

1500.817

1666.874

Profit

41.766

42.153

43.214

 

2.92%

2.81%

2.59%

 

 

 

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

Yes

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

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

Yes

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 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

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

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

G.B. Spring Co.

1.969

1.969

Hitakshi Gandhi

0.300

0.300

Meenu Gandhi Loan

4.200

0.000

Ajay Ahuja (Proprietor Jyoti Rubber Inds.)

4.000

4.000

Rakesh Khanna/ Arun Khanna

10.610

10.810

Sita Devi

2.794

2.794

S.K. Gandhi and Sons

1.000

1.000

Amit Garg

0.000

7.000

Dippy Khanna

0.000

6.000

Total

24.873

33.873

 

 

FIXED ASSETS

 

 

 

OBSERVATION POINTS

 

Name of Company :

S.K. SPRING CO.

 

 

Address :

Behrampur Industrial Area, Begampur Khatola Road, 38th Mile Stone, Delhi-Jaipur Highway, Village Khandsa, Gurugram – 122004, Haryana, India

 

 

Mobile No.:

91-9811144555

 

 

Email:

info@skspring.com

 

 

Person to whom we met:

Mr. Sunil Kumar  Designation : Finance Head

 

 

Name Board :

Sighted

 

 

Location:

Difficult

 

 

Landmark :

Near Haryana Roadways Workshop

 

 

Total Floors of the building:

2 Floor

 

 

Subject situated on:

Whole premise belongs to the subject

 

 

Locality:

Industrial

 

 

Area of premises :

26000 sq. ft.

 

 

Area :

Neutral

 

 

Level of operation :

Medium

 

 

Details of hypothecation signboard (If Any) (As displayed in factory / work) :

No

 

 

No. of employees seen at premises:

80

 

 

Visibility of Items:

·         Telephone

·         Computers

·         Air Conditioner

·         Xerox Machine

 

 

Furniture items sighted :

Yes

 

 

Neighbour’s interview :

Company of Company: MOD Serap Industries

Contact person: Mr. Balram (S.G.)

 

Company of Company: Prerna Rex Private Limited

Contact person: Mr. Narender (S.G.)

Neighbour’s overview:

Existence Confirmed

 

 

Proof of visit:

Photograph / Visiting Card

 

Photographs: Interior with name board/ Shop Floor / Stock etc.

 

 

Details of the person conducting visit:

Name: Mr. Shyam Chandra

Designation: Filed Executive

Contact No.: 91-9953458065

 

 

 

PICTURES

 

  

 

  

  

 

  

  

 

  

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NEIGHBOUR

 

 

 

 

  

 

 

 

 

 

 

 

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 (as on 15.05.2018 (date of report) :

            No press reports / filings exists on the subject.

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

NYT

 

 

Report Prepared by :

MTN

 

 

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

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.
 
 

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