|
|
|
MIRA INFORM REPORT
|
Report No. : |
509553 |
|
Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
CRAVATEX BRANDS LIMITED (w.e.f. 13.01.2017) |
|
|
|
|
Formerly known
as.: |
MOONRAKER BRANDS LIMITED |
|
|
|
|
Registered
Office : |
Sahas, 4th Floor, 414/2 Veer Savarkar Marg, Prabhadevi, Mumbai – 400025, Maharashtra |
|
Tel. No.: |
91-22-66667474 |
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|
|
|
Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
22.12.2016 |
|
|
|
|
Com. Reg. No.: |
11-288788 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 897.110 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH2016PLC288788 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAKCM7283M |
|
|
|
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
The company engaged in the business of import, marketing, distribution and servicing of fitness equipment as well as through licensing arrangements with global brands, the design, sourcing, and the marketing, distribution and retail of footwear, apparel. (Registered activity) |
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|
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Cravatex Limited” and it was incorporated in the year 2016. As per financials of March 2017, the company has commenced its business operations and has reported huge losses. Rating takes into consideration the company’s short track record of business operations marked by moderate financial risk profile along with negative reserves and unfavourable gap between its trade payables to its trade receivables. However, ratings weakness is partially offset by financial and managerial support received from its holding entity. Payments seems to be slow but correct. In view of aforesaid, the subject can be considered for business dealings with some caution. |
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
|
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 18.05.2018
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 DENIED
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-22-66667474)
LOCATIONS
|
Registered Office : |
Sahas, 4th Floor, 414/2 Veer Savarkar Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-66667474 |
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Fax No.: |
91-22-24313210 |
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E-Mail : |
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Website : |
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Overseas office.: |
Unit 1, Colonial Business Park Colonial Way Watford Hertfordshire - WD24 4PR |
|
Tel. No.: |
+44 (0) 1923 288 555 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Rajesh Batra |
|
Designation : |
Director |
|
Address : |
9A Sunita, Ridge Road, Malabar Hills, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
20.03.1955 |
|
Qualification : |
BSC, Diploma in System Management |
|
Date of Appointment : |
22.12.2016 |
|
DIN No.: |
00020764 |
|
|
|
|
Name : |
Mr. Narayanswamy Santhanam |
|
Designation : |
Director |
|
Address : |
Flat No. 1607/8, Tower D 16th Floor, Ashok Towers, Dr. SS Marg, Parel,
Mumbai – 400012, Maharashtra, India |
|
Date of Appointment : |
26.05.2017 |
|
DIN No.: |
00027724 |
|
|
|
|
Name : |
Mr. Sumeet Singh Nindrajog |
|
Designation : |
Nominee Director |
|
Address : |
13A, Nibbana Annex Pali Hill Road, Bandra West, Mumbai – 400050, Maharashtra,
India |
|
Date of Birth/Age : |
30.06.1979 |
|
Qualification : |
Bachelor in Finance and Management |
|
Date of Appointment : |
27.03.2017 |
|
DIN No.: |
00182873 |
|
|
|
|
Name : |
Mrs. Rupa Rajul Vora |
|
Designation : |
Director |
|
Address : |
8, Hyde Park 227 Sher E Punjab Soc, Mahakali Caves Road, Mumbai – 400012,
Maharashtra, India |
|
Date of Appointment : |
26.05.2017 |
|
DIN No.: |
01831916 |
|
|
|
|
Name : |
Mr. Rohan Kumar Batra |
|
Designation : |
Managing Director |
|
Address : |
9-A Sunita, Ridge Road, Malabar Hill, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
09.02.1987 |
|
Qualification : |
Honour Degree from Cass Business School |
|
Date of Appointment : |
22.12.2016 |
|
DIN No.: |
02574195 |
|
|
|
|
Name : |
Mr. Anuj Rakyan |
|
Designation : |
Director |
|
Address : |
73, Jolly Maker 3, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
28.08.1979 |
|
Qualification : |
Management Degree |
|
Date of Appointment : |
06.02.2017 |
|
DIN No.: |
06673122 |
|
|
|
|
Name : |
Mr. Niten Lalpuria |
|
Designation : |
Nominee Director |
|
Address : |
202 Shiv Niwas, Dixit Cross Road, 1 Vile Parle – East, Mumbai – 400057,
Maharashtra, India |
|
Date of Appointment : |
01.09.2017 |
|
DIN No.: |
07897970 |
KEY EXECUTIVES
|
Name : |
Mr. Ankur Sharma |
|
Designation : |
Chief Financial Officer |
|
Address : |
A-102, Sec 31-32A, Raheja Atlantis, Gurugram -122002, Haryana, India |
|
Date of Appointment : |
02.04.2018 |
|
PAN No.: |
BAWPS8263C |
|
|
|
|
Name : |
Ms. Apurva Vyankatesh Parulekar |
|
Designation : |
Company Secretary |
|
Address : |
C-2/1 Sukumar Society, Dayaldas Road, Vile- Parle (East), Mumbai – 400057,
Maharashtra, India |
|
Date of Appointment : |
01.08.2017 |
|
PAN No.: |
BEAPP9399N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders (Equity) |
|
No. of Shares |
|
Cravatex Limited |
|
3270994 |
|
N. R. Mahalingam |
|
1 |
|
Sujaya Batra |
|
1 |
|
Divakar Kamath |
|
1 |
|
Rajiv Wallia |
|
1 |
|
Sudhanshu Namdeo |
|
1 |
|
Rohan Batra |
|
1 |
|
Paragon Partners Growth Fund |
|
100 |
|
|
|
|
|
Total |
|
3271100 |
|
Names of Shareholders (Preference) |
|
No. of Shares |
|
Paragon Partners Growth Fund |
|
5700000 |
|
|
|
|
|
Total |
|
5700000 |
Equity Share Break up (Percentage of Total Equity)
As on 23.06.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company engaged in the business of import, marketing, distribution and servicing of fitness equipment as well as through licensing arrangements with global brands, the design, sourcing, and the marketing, distribution and retail of footwear, apparel. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
C. B. Pokle and Company Chartered Accountants |
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Address : |
201, 2nd Floor, Chitrakoot, Kashinath Dhuru Street, Agar Bazar, Dadar (W), Mumbai – 400025, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFC5077H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company.: |
L93010MH1951PLC008546 |
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|
Holding of Cravatex
Limited.: |
U74900MH2013PTC241644 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives.: |
U65990MH1981PTC023695 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3300000 |
Equity Shares |
INR 100/- each |
INR 330.000 Million |
|
5700000 |
Preference Shares |
INR 100/- each |
INR 570.000 Million |
|
|
Total |
|
INR 900.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3271100 |
Equity Shares |
INR 100/- each |
INR 327.110
Million |
|
5700000 |
Preference Shares |
INR 100/- each |
INR 570.000 Million |
|
|
Total |
|
INR 897.110
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
897.110 |
|
(b) Reserves & Surplus |
|
|
(69.554) |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
827.556 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
180.000 |
|
(b) Deferred tax liabilities
(Net) |
|
|
15.419 |
|
(c) Other long term
liabilities |
|
|
8.375 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
203.794 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
466.576 |
|
(b) Trade payables |
|
|
220.624 |
|
(c) Other current liabilities |
|
|
116.862 |
|
(d) Short-term provisions |
|
|
0.000 |
|
Total
Current Liabilities (4) |
|
|
804.062 |
|
|
|
|
|
|
TOTAL |
|
|
1835.412 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
22.924 |
|
(ii) Intangible Assets |
|
|
444.411 |
|
(iii) Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other Non-current assets |
|
|
32.416 |
|
Total
Non-Current Assets |
|
|
499.751 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
359.978 |
|
(c) Trade receivables |
|
|
423.131 |
|
(d) Cash and cash equivalents |
|
|
533.474 |
|
(e) Short-term loans and
advances |
|
|
19.078 |
|
(f) Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
1335.661 |
|
|
|
|
|
|
TOTAL |
|
|
1835.412 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
8.582 |
|
|
Other Income |
|
|
0.800 |
|
|
TOTAL
|
|
|
9.382 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
15.053 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
(10.966) |
|
|
Employees benefits expense |
|
|
3.680 |
|
|
Other expenses |
|
|
52.932 |
|
|
TOTAL |
|
|
60.699 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
(51.317) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
1.823 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
(53.140) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
|
0.996 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
(54.136) |
|
|
|
|
|
|
|
Less |
TAX |
|
|
15.419 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
(69.555) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
|
(960.04) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
|
|
31.03.2017 |
|
Current Maturities of Long term debt |
|
|
NA |
|
Net cash flows from (used in) operations |
|
|
(540.098) |
|
Net cash flows from (used in) operating activities |
|
|
(540.103) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
|
17996.13 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
|
0.02 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
|
5349.62 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
|
(0.14) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
|
(0.11) |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
|
0.54 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
|
0.78 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
|
0.97 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
|
0.56 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
|
(28.15) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
((PAT / Sales) * 100) |
% |
|
|
(810.48) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
|
(3.79) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
|
(8.40) |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
1.66 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
|
1.21 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
|
0.45 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
|
0.72 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
|
1.66 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
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 |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
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 about three months
|
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last about three months |
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 |
STATEMENT OF COMPANY
AFFAIRS
The turnover of the Company for the period under review was INR 8.582 Million, while the losses before finance cost, depreciation and taxation stood at INR 51.317 Million. Loss after tax for the period was INR 69.555 Million.
UNSECURED LOAN
|
PARTICULARS |
|
31.03.2017 (INR
in Million) |
|
Fully convertible debentures others |
|
180.000 |
|
|
|
|
|
Total |
|
180.000 |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G47026596 |
100105776 |
HDFC BANK LIMITED |
26/05/2017 |
- |
- |
850000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra, India |
FIXED ASSETS
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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 67.83 |
|
|
1 |
INR 91.68 |
|
Euro |
1 |
INR 80.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KJL |
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 |
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.