|
|
|
MIRA INFORM REPORT
|
Report No. : |
510801 |
|
Report Date : |
29.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
HONEYWELL AUTOMATION
INDIA LIMITED |
|
|
|
|
Registered Office : |
Office No. LB180606, Sheikh Zayed
Road, Jebel
Ali Free Zone Area (JAFZA), 262263
Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
27.07.2007 |
|
|
|
|
Com. Reg. No.: |
7839 |
|
|
|
|
Legal Form : |
Branch Office of a Foreign
Company |
|
|
|
|
Line of Business : |
Subject is engaged in importers, wholesalers and
distributors of automation and control systems. |
|
|
|
|
No. of Employees : |
2,931 (subject and its parent) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Branch Office of a Foreign Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
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) |
|
United Arab Emirates |
A2 |
A2 |
|
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 |
UNITED ARAB EMIRATES - ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP from the oil and gas sector to 30%.
Since the discovery of oil in the UAE nearly 60 years ago, the country has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. The country's free trade zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors.
The global financial crisis of 2008-09, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency and ultimately a $20 billion bailout from the UAE Central Bank and Abu Dhabi Government that was refinanced in March 2014.
The UAE’s dependence on oil is a significant long-term challenge, although the UAE is one of the most diversified countries in the Gulf Cooperation Council. Low oil prices have prompted the UAE to cut expenditures, including on some social programs, but the UAE has sufficient assets in its sovereign investment funds to cover its deficits. The government reduced fuel subsidies in August 2015, and has announced plans to introduce excise and value-added taxes by January 1, 2018. The UAE's strategic plan for the next few years focuses on economic diversification, promoting the UAE as a global trade and tourism hub, developing industry, and creating more job opportunities for nationals through improved education and increased private sector employment.
|
Source
: CIA |
BRIEF
SUMMARY
|
||||||||
|
COMPANY NAME |
Honeywell Automation India Limited (Jebel Ali
Branch) |
|||||||
|
|
||||||||
|
ADDRESS |
Building |
Street |
Area |
PO Box |
||||
|
Office
No. LB180606 |
Sheikh Zayed Road |
Jebel Ali Free Zone Area (JAFZA) |
262263 Dubai |
|||||
|
TEL/FAX |
Verified
Phones: (+971 4) 450 5952 / (+91 20) 6603 9400 / Fax: (+971
4) 886 3797 |
|||||||
|
EMAIL/WEBSITE |
Email: shenaz.pannu@honeywell.com / Website: www.honeywell.com |
|||||||
|
ACTIVITY |
NACE 4618
- Agents specialised in the sale of other particular products; NACE 8020 -
Security systems service activities; |
|||||||
|
PRINCIPAL |
Ashish Gaikwad |
Workforce |
||||||
|
Managing
Director |
2,842
(subject and its parent) |
|||||||
|
LEGAL
INFO |
Date Of
Est. |
Reg. No. |
Legal
Form |
Status |
||||
|
27/07/2007 |
7839 |
Branch Office of a Foreign Company |
Active |
|||||
IDENTIFICATION
|
|||
|
CO. NAME |
Honeywell
Automation India Limited (Jebel Ali Branch) |
||
|
ENQUIRED NAME |
HONEYWELL AUTOMATION INDIA LIMITED |
||
|
BUILDING |
Office No. LB180606 |
||
|
STREET |
Sheikh
Zayed Road |
||
|
AREA |
Jebel
Ali Free Zone Area (JAFZA) |
||
|
POSTAL ADDRESS |
262263 Dubai |
||
|
CITY |
Dubai |
||
|
COUNTRY |
United Arab Emirates |
||
|
TELEPHONE |
(+971
4) 450 5952 / (+91 20)
6603 9400 |
||
|
FAX |
(+971
4) 886 3797 |
||
|
VERIFIED EMAIL |
shenaz.pannu@honeywell.com |
||
|
WEBSITE |
www.honeywell.com |
||
|
BUSINESS HOURS |
DAYS |
OFFICE HOURS |
BREAK TIME |
|
Sun-Thu |
09:00-17:00 |
13:00-13:30 |
|
|
REGISTERED ADDRESS |
Office No. LB180606,
Sheikh Zayed Road,
Jebel Ali Free Zone Area (JAFZA), PO Box 262263, Dubai, United Arab Emirates |
||
|
ADDITIONAL POSTAL CODE |
232362 & 17713 Dubai |
||
SENIOR
PERSONNEL
|
||
|
MANAGEMENT |
NAME |
POSITION |
|
Ashish
Gaikwad (based
in India) |
Managing Director |
|
|
Amit Tantia (based
in India) Anurag Bhagania (based
in India) Ms. Shenaz Pannu |
Chief Financial Officer Finance Leader Executive Assistant to Managing Director |
|
|
WORKFORCE |
NO. OF EMPLOYEES |
PERIOD |
|
2,931 (subject and its parent) |
03.2017 |
|
|
131,000 (Honeywell
International |
01.2016
|
|
FINANCIAL
SUMMARY
|
|
|
NOTES |
Private companies in United Arab Emirates are not required
to publish or disclose balance sheets. The following balance sheet as at
31/03/2017 applies to subject’s parent company, Honeywell Automation India Ltd,
India : 31/03/2017 31/03/2016 (in Lakhs of Indian
Rupees) ASSETS Assets Non-current
assets Property,
plant and equipment 7,857 8,369
Capital
work in progress 269 160
Intangible
assets 24 35
Financial
assets Trade
receivables 418 376
Other
financial assets 2,710 2,261
Income
tax assets (net) 5,100 5,281
Deferred
tax assets (net) 6,844 7,173
Other
non-current assets 7,023 6,670
Total
non-current assets 30,245 30,325
Current
assets Inventories 9,691 10,064
Financial
assets Investments 8,275 7,893
Trade
receivables 50,032 50,533
Cash
and cash equivalents 49,075 37,128
Bank
balances other than (iii)
above 8,772 30
Other
financial assets 2,023 2,063
Other
current assets 37,035 38,158
Total
current assets 164,903 145,869
Total
Assets 195,148 176,194
Equity
and Liabilities Equity Equity
share capital 884 884
Other
equity 117,144 101,317
Total
Equity 118,028 102,201
Liabilities Non-current
liabilities Financial
Liabilities Trade
payables 76 36
Provisions 1,268 1,311
Total
non-current liabilities 1,344 1,347
Current
liabilities Financial
liabilities Trade
payables 55,039 53,545
Other
financial liabilities 2,386
1,925 Other
current liabilities 11,259 10,708
Provisions 7,092 6,468
Total
current liabilities 75,776 72,646
Total
Equity and Liabilities 195,148 176,194
STATEMENT
OF PROFIT AND LOSS 31/03/2017 31/03/2016 (in Lakhs of Indian
Rupees) Revenue
from operations 244,472 222,153 Other
Income 3,803 2,397 Total
Income 248,275 224,550 Expenses: Cost
of materials consumed 108,704 110,092 Purchases
of Stock in trade 20,705 16,908 Changes
in inventories of finished
goods, work-in-progress
and stock-in-trade 605 509 Excise
duty on sale of goods 3,465 3,391 Employee
benefits expense 41,393 35,897 Finance
costs 26 38 Depreciation
and amortization expense 1,635 1,540 Other
expenses 41,011 33,559 Total
expenses 217,544 201,934 Profit
before tax 30,731 22,616 Income
tax expense: -
Current tax 10,468 8,490 -
Deferred tax 408 352 -
Relating to earlier years (Refer
Note No. 41) 2,910 (345) Total
tax expense 13,786 8,497 Profit
for the period 16,945 14,119 Financial
year ends 31 March. The
following consolidated balance sheets as at 31/12/2017 applies to subject’s
ultimate parent company, Honeywell International Inc.: 31/03/2017 31/03/2016 (in millions of USD) ASSETS Current
assets: Cash
and cash equivalents 7,059 7,843 Short-term
investments 3,758 1,520 Accounts
receivable—net 8,866 8,177 Inventories 4,613 4,366 Other
current assets 1,706 1,152 Total
current assets 26,002 23,058 Investments
and long-term receivables 667 587 Property,
plant and equipment—net 5,926 5,793 Goodwill 18,277 17,707 Other
intangible assets—net 4,496 4,634 Insurance
recoveries for asbestos
related liabilities 411 417 Deferred
income taxes 236 347 Other
assets 3,372 1,603 Total
assets 59,387 54,146 LIABILITIES Current
liabilities: Accounts
payable 6,584 5,690 Commercial
paper and other short-term
borrowings 3,958 3,366 Current
maturities of long-term
debt 1,351 227 Accrued
liabilities 6,968 7,048 Total
current liabilities 18,861 16,331 Long-term
debt 12,573 12,182 Deferred
income taxes 2,894 486 Postretirement
benefit obligations
other than pensions 512 473 Asbestos
related liabilities 1,173 1,014 Other
liabilities 5,930 4,110 Redeemable
noncontrolling interest 5 3 SHAREOWNERS’
EQUITY Capital—common
stock issued 958 958 —additional
paid-in capital 6,212 5,781 Common
stock held in treasury,
at cost (15,914) (13,366) Accumulated
other comprehensive
income (loss (2,235) (2,714) Retained
earnings 28,255 28,710 Total
Honeywell shareowners’
equity 17,276 19,369 Noncontrolling
interest 163 178 Total
shareowners’ equity 17,439 19,547 Total
liabilities, redeemable noncontrolling
interest and
shareowners’ equity 59,387 54,146 Financial
year ends 31 December. |
LEGAL
STATUS
|
||
|
INCORPORATION |
27/07/2007 |
|
|
REGISTRATION NO. |
C.R. NUMBER |
ISSUED BY |
|
Trade License No.: 7839 (expiry date: 26/06/2018) |
Jebel Ali Free Zone Authority |
|
|
OTHER REGISTRATION NO. |
DCCI Membership No.: 123114
(issue date: 26/08/2007) |
|
|
CAPITAL |
Not applicable |
|
|
BUSINESS HISTORY |
Subject was established in Jebel
Ali Free Zone Area (JAFZA) on 27
June 2007. |
|
|
STATUS |
Active |
|
|
PARENT |
NAME |
LEGAL FORM |
|
Subject is a branch of the following
company: Honeywell Automation India Ltd 56 & 57, Hadapsar Industrial Estate, Hadapsar, Pune 411 013 Telephone: (+91 20) 6603 9400 Fax : (+91 20)
6603 9800 E-mail :
acsindia@honeywell.com CIN No.: L29299PN1984PLC017951 Est.: 13/01/1984 Ultimate parent company 101 Columbia Road PO Box 4000 Morristown, NJ 07962-2497 USA Telephone: (+1 973) 455 2000 Fax : (+1 973)
455 4807 Honeywell International Inc. operates as a diversified
technology and manufacturing company worldwide. The company was founded in
1920 and is headquartered in Morris Township, New Jersey. Honeywell employs
over 130,000 people in more than 100 countries. Honeywell is the world's
leading supplier of industrial control systems and components that improve
productivity, optimize the use of raw materials, comply with environmental
regulations, ensure plant safety, and enhance overall competitiveness. Honeywell International Inc., operates through the
following business units : AEROSPACE Aerospace products and services are used globally on
virtually every commercial and business aircraft operating today as well as
for defence and space applications. AUTOMATION AND CONTROL SOLUTIONS Environmental controls, life safety, security, sensing,
scanning, and mobility products, as well as building and process solutions
are at work in 120 million homes, 10 million buildings, 5,000 industrial
facilities, and hundreds of public and private utilities worldwide. Sensing
and control expertise – the ability to capture more and better data for
improved productivity, safety, and security, better decision-making, and
reduced costs – is what unifies the common platforms of Automation and
Control Solutions business. TRANSPORTATION SYSTEMS Transportation Systems is a leading provider of world-class
technologies and solutions to automakers, their suppliers, and consumers.
From fuel-saving and emission-reducing turbochargers to top consumer car care
brands such as Fram, Prestone, Autolite and safety-enhancing brake materials,
Transportation Systems’ technologies enhance the performance, efficiency, and
appearance of passenger and commercial vehicles worldwide. SPECIALTY MATERIALS A global leader in developing and manufacturing
high-purity, high-quality performance chemicals and materials, Honeywell
technologies reduce emissions, stop bullets, enable the production of green
diesel and green gasoline, increase oil refinery capacity, speed drug
discovery, and protect medicines. |
Branch
Office of a Foreign Company |
|
OPERATION
|
|
|
BANKERS |
1. The Royal Bank of Scotland
Ground Floor, Building No. 1 & 2, Al Manama
Street, Dubai Outsource Zone
PO Box 2567
Dubai
United Arab Emirates
Telephone: (+971 4) 426 6344
IBAN NO. AE330020000000022780963
SWIFT Code: ABNAAEAD 2. Citibank Khalid Bin Waleed
Street P.O. Box 749 Dubai Telephone: (971 4)
352 2100 Fax : (971 4) 352 4942 |
|
AUDITORS |
Deloitte Haskins & Sells LLP 12, Dr. Annie Besant Road Opposite Shiv Sagar Estate, Worli Mumbai 400 018 India Telephone: (+91 22) 6667 9000 Fax : (+91 22) 6667 9025 |
|
ACTIVITY CODE (NACE) |
4618 - Agents specialised in the sale
of other particular products; 8020 - Security systems service activities; |
|
LINE OF BUSINESS |
Trading as importers,
wholesalers and distributors of automation and control systems. Subject offers distributed control
systems, transmitters, programmable logic controllers, emergency shutdown
systems, quality controls systems, and process and business performance
improvement solutions. It also provides building management systems, such as
HVAC, lighting, and utilities monitoring and control systems, as well as fire
detection and alarm systems, access control systems, video surveillance
systems, integrated security systems, and integrated building management
systems to commercial and industrial buildings, IT and ITES industry,
hospitals, hotels, airports, etc. |
|
IMPORT FROM |
mainly from India, Turkey and
Europe. |
|
EXPORT TO |
GCC countries. |
|
FACILITIES |
Rented premises comprising
administrative offices with storage facilities located at the heading address.
|
|
RELATED COMPANIES |
Affiliated companies of Honeywell International Inc in the
region: Associates 1. Honeywell & Co Oman LLC PO Box 482, PC 116 Muscat Oman Telephone: (+968)
2458 9200 Fax : (+968) 2458 9248 2. Honeywell Turki Arabia Ltd ATCO Building King Khaled Street PO Box 7080 Dammam 31421 Saudi Arabia Telephone: (+966
13) 883 8152 / 834 2442 Fax : (+966 13) 834 2828 / 833 8059 3. Honeywell Egypt Limited 17 El Ahram Street Heliopolis Cairo Egypt Telephone: (+20 2)
2690 5516 / 2690 5526 Fax : (+20 2) 2690 5523 4. AJB Hightech Ltd (Honeywell Jordan) PO Box 20704 Amman 20704 Jordan Telephone: (+962
6) 552 8086 / 553 7785 Fax : (+962 6) 553 7785 5. Honeywell Kuwait Co. KSC (Closed) Al Nakib Building,
2nd Floor Abu Baker Al
Siddique Street Souk Watiya, near
Sheraton Hotel PO Box 20825 Safat
13069 Kuwait City Telephone: (+965)
2242 1327 Fax : (+965) 2242 8315 / 2326 1714 6. Honeywell Middle East FZE LOB No. 8, Office
No. 199 Jebel Ali Free
Zone PO Box 18530 Dubai United Arab
Emirates Telephone: (+971
4) 807 3200 / 807 3105 Fax : (+971 4) 881 6220 Shareholder: Honeywell
International Middle East Limited * Bermuda Reg No. : 39109
Hamilton * It is a 100%
owned subsidiary of : Honeywell Middle
East B.V. 1101 EA
Amsterdam Z.O. The Netherlands Telephone: (31
20) 565 6911 Fax : (31 20) 565 6600 Honeywell Middle
East B.V., a fully owned subsidiary of
Honeywell Capital N.V. (Netherlands
Antiles), which is in turn 100% owned by
Honeywell Inc (USA). Other
Associates 1.
Honeywell Technology Solutions Quatar 2.
Honeywell Tianjin Limited 3.
Honeywell Life Safety AS 4.
Honeywell B.V. 5.
Honeywell & Co. Oman L.L.C. 6.
Honeywell Pte Ltd. 7.
Honeywell Automation & Control Solutions
South Africa (Pty) Ltd. 8.
Automation and Control Solutions, S. de R.L.
de C.V. 9.
Honeywell Europe N.V. 10.Honeywell
Systems (Thailand) Ltd. 11.Honeywell
Ltd. ( Hong Kong) 12.Enraf
B.V. 13.Honeywell
Technology Solutions Lab Pvt. Ltd. 14.Pittway
Systems Technology Group Europe Ltd. 15.Honeywell
Taiwan Inc. 16.Honeywell
Life Safety AS 17.Honeywell
Building Solutions Gmbh 18.Novar
Systems Ltd. 19.Honeywell
Controls International Ltd. 20.Tridium
Inc. 21.Honeywell
Limited (New Zealand) 22.Honeywell
Austria Gesellschaft mbh 23.Honeywell
A.B. 24.Matrikon
Pty Ltd. 25.Trend
Control Systems Ltd. 26.Honeywell
(China) Advanced Solutions Co., Ltd. 27.Honeywell
Southern Africa (Proprietary) Ltd. 28.Honeywell
Japan Inc. 29.Honeywell
Angola Lda 30.Honeywell
E.P.E. 31.Honeywell
International (India) Private Limited 32.Honeywell
Limited Australia 33.Honeywell
Limited 34.Honeywell
Enraf Americas, Inc. 35.Honeywell
Measurex (Ireland) Ltd. 36.Honeywell
Controls System Limited 37.Honeywell
International Middle East Ltd. 38.MST
Technology GMBH 39.Honeywell
Security France S.A. 40.Honeywell
GMBH 41.Honeywell
S.A. (Belgium) 42.Honeywell
Airport Systems Gmbh 43.Honeywell
s.r.l. 44.UOP
India Pvt. Ltd. 45.Honeywell
Engineering Sdn. Bhd. 46.Honeywell
Co., Ltd. (Korea) 47.Honeywell
S.L. 48.Honeywell
Portugal, Automacao e Contolo, S.A. 49.Honeywell
Automation & control Solutions Carribean Ltd. 50.Honeywell
AS Norway 51.Honeywell
OY 52.Matrikon
Middle East Co WLL 53.Honeywell
Environmental & Combustion Controls (Tianjin) Co., Ltd. 54.Honeywell
International s.a.r.l. 55.Honeywell
Sensing & Control China Co, Ltd. 56.Honeywell
Technologies SARL 57.Honeywell
AG 58.Matrikon
Inc. 59.Honeywell
NV [Belgium] 60.Honeywell
S.A.I.C. 61.Eclipse
Combustion (Pvt.) Ltd. 62.Elster
GmbH 63.Honeywell
Limited 64.Honeywell
S.A. [France] 65.HONEYWELL
TEKNOLOJI A.S 66.MK
Electric (Malaysia) SDN BHD 67.Intermec
Technologies (S) Pte Ltd 68.Honeywell
Hometown Solutions India Foundation 69.Honeywell
Trading (Shanghai) Co., Ltd. 70.UOP
Limited 71.Honeywell
Fire Systems LLC 72.Life
Safety Germany GmbH 73.Honeywell
Automotive de Mexico, S.A. de C.V. 74.Honeywell
A/S (Denmark) 75.Automation
And Control Solutions Limited 76.PT
Honeywell Indonesia 77.Life
Safety Distribution AG 78.Enraf
Tanksystem AG 79.Salisbury
Electrical Safety L.L.C. 80.Honeywell
Analytics Ltd 81.Sinpoec
Honeywell Tianjin Ltd. 82.ZAO
Honeywell 83.Maxon
Corporation 84.Honeywell
ASCa Inc. 85.Maxon
Combustion Equipment (Shanghai) Co.,Ltd. 86.Maxon
International BVBA 87.BW
Technologies Partnership 88.Inncom
International Inc 89.Bryan
Donkin RMG Gas Controls Ltd 90.Honeywell,
S.L. [Spain] 91.Honeywell
Iraq LLC 92.Saia-Burgess
Controls AG 93.Honeywell
spol. s.r.o. [Slovak Republic] 94.Integrated
Technical Innovation Company for General Services & Trade 95.Honeywell
Specialty Chemicals (Singapore) Pte. Ltd. 96.Honeywell
Taiwan Limited 97.Honeywell,
S.A. de C.V. 98.Mercury
Instruments LLC 99.RMG
Messtechnik GmbH 100.Honeywell
China co. Ltd 101.Elster
Metering Private Limited 102.Elster
Solutions GmbH 103.Energy
ICT N.V. 104.Honeywell
Teknoloji Anonim Sirketi 105.Metrologic
Asia (Pte) Ltd 106.Xtralis
Pty Ltd 107.Honeywell
International Services S.r.l. 108.HSM
Technology LLC 109.Honeywell
HBS Solutions LLC 110.UOP
L.L.C. 111.Honeywell
Aerospace B.V. 112.Honeywell
Turbo Technologies (India) Private Limited 113.Honeywell
Electrical Devices and Systems India Limited 114.Honeywell
do Brasil Ltda. 115.Honeywell
Egypt Limited 116.Honeywell
EOOD 117.Matrikon
International, Inc. 118.Novar
Gmbh 119.Honeywell
Integrated Technology (China) Co Ltd. 120.Ademco
Asia Pacific Ltd. 121.Tridium
Asia Pacific Pte Ltd. 122.Honeywell
Building Solutions SES Corporation 123.Honeywell
Romania s.r.l. 124.Honeywell
Marine SAS 125.Honeywell
Europe Services S.A.S. 126.Honeywell
Automation and Control Solutions West Africa Limited 127.Honeywell
Automation Controls System LLP (Kazakhstan) 128.Honeywell
(Macau) Limited 129.KAC
Alarm Company Limited 130.RMG
Regel + Messtechnik GmbH 131.Honeywell
Sp. z o.o. 132.Honeywell
Szabályozástechnikai Kft. 133.Honeywell
spol. s.r.o. [Czech Republic] 134.Honeywell
Technology Solutions Inc. 135.Matrikon
Business Systems Inc. 136.Novar
ED&S Limited |
PAYMENT
RECORDS
|
|
|
FINANCIAL STRENGTH |
Normal |
|
EMPLOYEE RANGE |
ER1 |
SPECIAL
REMARKS
|
|
|
COMMENTS |
You enquired on: HONEYWELL
AUTOMATION INDIA LIMITED. Please note that subject’s correct registered name
is as per heading. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.44 |
|
|
1 |
INR 89.88 |
|
Euro |
1 |
INR 79.00 |
|
UAE Dh |
1 |
INR 18.43 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
DNS |
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.