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ABC Company

CRISIL SME Rating: SME 3 'Above Average' Indicates the level of creditworthiness, adjudged in relation to other SMEs

Report date: October X, 2017 / Valid till: October X, 2018

Important notice The rating is a one-time exercise and the rating will not be kept under surveillance. This rating is valid for one year

from the report date, subject to no significant changes/events occurring during this period that could materially

affect the business or financial parameters of the organisation as mentioned in the report. CRISIL, however,

recommends that the user of the rating seeks a review of the rating if the organisation experiences significant

changes/events during this period which could impact the organisation/its rating.

The rating and this report are based on the information provided to CRISIL by the organisation and/or obtained by

CRISIL from sources it considers reliable including published annual reports, management meetings, industry data

and discussions with bankers, customers and suppliers. CRISIL does not guarantee the accuracy, adequacy or

completeness of any information on which the rating and the report are based and is not responsible for any errors

or omissions for the results/opinions obtained from the use of the rating or the rating report. The rating does not

constitute an audit of the organisation by CRISIL. The rating is also not a recommendation to enter into or not enter

into any transaction with the organisation. CRISIL reserves the right to disclose the organisation’s rating and the

rating report to Government and/or Regulatory Authorities/Courts of Law if required to do so.

It is especially stated that CRISIL, its Directors, Rating Committee members, employees and others associated with

the rating assignment do not have any financial liability whatsoever including but not limited to attorney’s or

consultant’s fees to the users of this rating or this rating report. No part of this report may be reproduced by any

means without CRISIL’s prior written approval.

Index

CRISIL SME Rating .......................................................................................................................................... 2

Key rating drivers ............................................................................................................................................ 3

Business and management ....................................................................................................................... 3

Financial .................................................................................................................................................... 3

Fact sheet ......................................................................................................................................................... 5

Business profile ............................................................................................................................................... 6

Business description ................................................................................................................................. 6

Revenue profile ......................................................................................................................................... 7

Customer profile and demand-side analysis ............................................................................................. 8

Supplier profile and supply-side analysis .................................................................................................. 9

Trading facilities ........................................................................................................................................ 9

Ownership and management ........................................................................................................................ 10

Directors’ profile ...................................................................................................................................... 10

Key management personnel ................................................................................................................... 11

Organisational structure, controls, and systems ..................................................................................... 12

Ownership pattern ................................................................................................................................... 13

Group companies and firms .................................................................................................................... 13

Financial profile ............................................................................................................................................. 14

Current financial performance ................................................................................................................. 14

Past financial performance ...................................................................................................................... 15

Profit and loss account ............................................................................................................................ 15

Balance sheet.......................................................................................................................................... 17

Key financial ratios .................................................................................................................................. 19

Fund flow statement ................................................................................................................................ 20

Graphs ..................................................................................................................................................... 21

Banking facilities ..................................................................................................................................... 22

Site visit – I ..................................................................................................................................................... 23

Site visit – II .................................................................................................................................................... 24

CRISIL SME Rating

Key rating drivers

Business and management Strengths • Organisational stability: The company’s established track record of 18 years

indicates its ability to weather economic and business cycles. Moreover, it will

be able to further expand its business based on its established brand name and

longstanding experience.

• Management expertise: The directors have been involved in its management

since 1999. With multiple years of experience, the company has developed

adequate understanding of the area of operations. This helps it cater to various

customers. CRISIL believes the directors’ experience will continue to support

the business in future.

• Well-defined organisational structure: The company has qualified and

experienced second-tier management with decision-making powers. Hence, it

is expected to benefit from the management's ability to ensure smooth flow of

operations.

• Good business certainty: The organisation has demonstrated secular

revenue growth for the past 3 financial years, which is reflected in increase in

net sales to Rs.1,477.21 lakh in 2015-16 from Rs.1,157.67 lakh in 2014-15 and

Rs.1,093.39 lakh in 2013-14.

• Strong customer base: This ensures regular. Some of its major customers

include:

o Max India Limited

o Jindal Poly Films Limited (rated ‘CRISIL A+/Stable/CRISIL A1’)

o JSW Steels Limited

o Cosmos Films Limited

o Nahar Poly Films Limited (rated ‘CRISIL BBB/Stable/CRISIL A3+’)

o Mahindra and Mahindra Limited (rated ‘CRISIL AAA/Stable/CRISIL A1+’)

o Hero MotoCorp Limited (rated ‘CRISIL AAA/Stable/FAAA/ Stable/CRISIL

A1+’)

o CEAT Limited

Risk factors • Margin may be constrained in future due to:

o Competition from new and established players

o Lack of hedging against fluctuations in foreign exchange rates

Financial Strengths • Adequate credit protection measures reflected in the company’s net cash

accrual to total debt and interest coverage ratio of 11.40 per cent and 2.31

times, respectively, as on March 31, 2016. This indicates its ability to make

regular repayments for its existing financial obligations.

• Healthy capital structure: The company has adequate tangible net worth

structure supported by low gearing and strong debt protection metrics. Tangible

net worth was comfortable at Rs.256.64 lakh as on March 31, 2016. Gearing

was comfortable, below 1.00 times, as on March 31, 2016. Gearing improved to

0.91 time in 2015-16 from 0.95 in 2013-14. Total outside liabilities/tangible net

worth was 1.72 times as on March 31, 2016.

Risk factors • Declining profitability: The company’s ability to maintain operational efficiency

while scaling up remains to be seen, as its operating profit before depreciation,

interest, and tax (OPBDIT) margin declined to 3.02 per cent in 2015-16 from

4.48 per cent in 2014-15 and 11.33 per cent in 2013-14.

Fact sheet Name of the company ABC Company

Year of incorporation 1999

Commencement of commercial operation April 7, 1999

Legal status Private limited company

Legal history • 1999: ‘ABC Company’ was incorporated with A and B as a

directors.

• 2008: B retired from the company and C (wife of A) joined as

a director.

• There has been no change in the company's name, business,

or constitution since its incorporation.

Registered with Registrar of Companies, Maharashtra

Registration number 112233

Company Identification Number (CIN) U12345678900 dated April 7, 1999

SSI registration number 2734567189

Managing director A

Category of entrepreneur General

Registered and administrative office

address 01, HBC Building

Opposite Petrol Pump

Turner Road

Mumbai – 400 123, Maharashtra

Tel.: +91 22 2507 1234

Fax: +91 22 2507 1235

Email: [email protected]

Website: www.ABC.com

Warehouse facility address 02, Opposite Sudardhan

Joint Road, Bhabai Naka


Number of employees Permanent: 40

Contractual: Nil

Total: 40

Certification and award None

Brand None

Statutory compliance • Income tax filing: Regular and timely

• Excise duty filing: Not applicable (for traders)

• Service tax filing: Regular and timely

• Wealth tax filing: Not applicable

• ESIC and EPF dues: Regular and timely

(As provided by the management, not independently verified)

Business profile

Business description Nature of business : Trading

Industry : Chemicals – speciality

Industry prospects : Strong

Business description

: Business operations:

• The company is an authorised distributor of industrial and

speciality lubricants for products manufactured by the

following companies:

o XYZ Lubricants, UK

o EFC Lubricants, Italy

• The traded products find application in automatic and

heavy and nuclear power, chemical, textile, and tyre

industries.

• The company sells its products through a network of about

50 sub-distributors located across India.

• It trades in about 550 different varieties of products (the

company added 50 new products to its product base of

500).

Price range:

• The price of products ranges from Rs.300.00 per litre to

Rs.0.10 lakh per litre.

Margin:

• The company maintains a gross profit margin of about 30-

35 per cent on traded goods.

Warehouse:

• The company owns a warehouse facility with a storage

capacity measuring 6,000 sq. ft.

Quality inspection:

• The company purchases chemicals from its suppliers in

advance. The chemicals are delivered to the company’s

warehouse, where the company’s personnel subject it to

pre-delivery inspection (PDI).

• It conducts a second quality check at the time of sale of

chemicals, before it is finally sent to the customer. The

company has a quality inspection team comprising 17

members.

Logistics:

• Exports: It avails ocean freight services for transportation.

Transportation charges and insurance costs are borne by

customers.

• Domestic: The company hires local transporters for

logistical support. Transportation charges are borne by

customers in case they are direct customers. In case they

are distributors, it bears transportation charges partly.

Labour:

• The company operates in a single shift of 8 hours.

Experience in the business : 18 years

Product range : Diverse

Degree of competition : High; entry barriers are low

Plans

: • As per the previous rating report, the company had plans

to add new product lines, enter into repackaging of

products, and introduce new products under its own brand,

which would be manufactured by third-party clients. The

same has been executed.

• Currently, the company does not have any expansion or

diversification plans for the near future.

Customer profile : Distributors and wholesalers and direct customers

Installed capacity/facility : Not applicable as the company is into trading

Utilised capacity :

Revenue profile Product profile Share in net sales (%)

Distributors and wholesalers 70.00

Direct customers 30.00

Total 100.00

Customer profile and demand-side analysis Customer name Address Product Length of

relationship

% share

in sales

Max India Limited

Maharashtra

Speciality

and industrial

lubricants

13 years

Varies

annually

Jindal Poly Films Limited (rated ‘CRISIL

A+/Stable/CRISIL A1’) 10 years

JSW Steels Limited 10 years

Cosmos Films Limited 9 years

Nahar Poly Films Limited (rated ‘CRISIL

BBB/Stable/CRISIL A3+’) 7 years

Mahindra and Mahindra Limited (rated ‘CRISIL

AAA/Stable/CRISIL A1+’) 4 years

Telco

Hero MotoCorp Limited (rated ‘CRISIL

AAA/Stable/FAAA/ Stable/CRISIL A1+’) 2 years

CEAT Limited

Notes:

• In 2016-17, the company added 20 employees to its existing customer base.

• The company caters to about 220 customers across India, Sri Lanka, and Bangladesh.

• No customer accounts for more than 25.00 per cent of net sales.

Terms of credit : • Domestic –

o Direct customers – Credit up to 90 days

o Distributors – Advances and credit up to 30

days

• Exports – Advance payments

Feedback from customers : Satisfied with the relationship

Process of getting orders : Regular orders from customers

Exports : • 10.00 per cent of net sales; transactions are

invoiced in US dollars.

• The contribution of export to total sales increased

from 5.00 per cent to 10.00 per cent in 2016-17.

Marketing network : • The company has a well-established marketing

team, comprising 50 distributors and 15

engineers.

• Marketing activities undertaken include client

visits and follow-ups.

• The company also participates in seminars and

exhibitions for the promotion of its products.

• It advertises online through its website,

www.ABC.com, and through various marketing

portals, including www.indiamart.com,

www.tradeindia.com, and www.justdial.com.

• The company also depends on word-of-mouth

publicity and the personal efforts of the directors.

Geographic reach : Well-spread

Supplier profile and supply-side analysis Supplier's / Wholesaler's name Address Product Length of

relationship

% share in

purchase

XYZ Lubricants XXX

Special

industrial

lubricants

17 years

Varies

annually

EFC Lubricants XXX 12 years

Apar Industries XXX 11 years

Lub Sa XXX 2 years

SVS Tech Engineers Private Limited XXX

Terms of purchase : • Domestic – Credit up to 60 days

• Imports – Credit up to 90 days

Feedback from suppliers : Satisfied with the relationship

Traded goods availability : Ample

Traded goods price volatility : High

Ability to pass on increase in traded goods’ price : Yes

Imports : 90.00 per cent of raw materials purchased;

transactions are invoiced in euros and Great Britain

pounds.

Trading facilities Employee-oriented operations : Yes

Employee union : No

Employee relationships : Cordial

Automation : Semi-automated

In-house R&D, designing facilities : No

Facility layout : Spacious and well-organised

Ownership and management

Directors’ profile Director’s name : A

Age : 65 years

Qualification : MTech, MBA

Designation / responsibilities : Managing director/Overall management

Previous experience : 26 years:

• 8 years – Manufacturing manager at XXX of India Limited

• 7 years as the CEO of UBC Private Limited

• 5 years – General manager at NKM Components Private Limited

• 5 years – Vice president of ARA Manufacturing Company Limited

Relevant experience : 18 years in the rated company

Personal net worth : Rs.100.00 lakh as on March 31, 2017

Director's address : Flat No. 608, Awesome Apartment

Turner Road, R S Marg


Telephone no. : +91 22 2507 1234

Ownership of residence : Owned

Director’s name : C

Age : 59 years

Qualification : MA

Designation / responsibilities : Director/Overall management

Previous experience : Worked as a teacher in Indira International

School


Personal net worth : Rs.120.00 lakh as on March 31, 2017

Director’s address : Flat No. 608, Awesome Apartment

Turner Road, R S Marg


Telephone no. : +91 22 2507 1234

Ownership of residence : Owned

Personal liquid net worth of directors is as disclosed by the management and not certified.

Key management personnel Name : D

Age : 29 years

Qualification : MCom, MBA

Designation / responsibilities : Head/Purchase, accounts, sales management, and finance


Address : 01, HBC Building


Turner Road


Telephone no. : +91 22 2507 1234

Name : E

Age : 43 years

Qualification : BE

Designation / responsibilities : Vice president/Marketing

Relevant experience : 20 years:

• 16 years in the rated company

• 2 years at Useful Private Limited

• 2 years at MNC Private Limited



Turner Road


Telephone no. : +91 22 2507 1234

Name : F

Age : 39 years

Qualification : MTech

Designation / responsibilities : Product head/Marketing

Relevant experience : 16 years:

• 12 years in the rated company

• 3 years at NOC Private Limited

• 1 year at DC Engineers



Turner Road


Telephone no. : +91 22 2507 1234

Name : G

Age : 39 years

Qualification level : Postgraduate

Designation / responsibilities : Manager/Accounts




Turner Road


Telephone no. : +91 22 2507 1234

Organisational structure, controls, and systems Managing director : A

Constitution : Private limited company

Second-tier management : Qualified and experienced

Decision-making powers : Decentralised

Reporting system or MIS : Yes

Type of reporting system : Computerised

Frequency of MIS / reporting : Daily

Litigations against the SSI : None

Litigations against the directors :

Severity of litigations : Not applicable

Susceptibility to foreign exchange fluctuations : High

Hedging against foreign exchange risks : No

Susceptibility to commodity price fluctuations : Not applicable

Hedging against commodity prices :

Asset insurance : Adequate

Ownership pattern Shareholding pattern as on: Fiscal 2016

Name of the shareholder Relationship with Managing Director Share in capital (%)

A Self 72.00

C Wife 28.00

Total 100.00

Group companies and firms There are no group companies and associate firms.

Financial profile

Current financial performance Performance for the period ended October 12, 2017

Net sales Rs lakh 750.00

OPBDIT Rs lakh 75.00

Current order book Rs lakh 20.00

Debtors Rs lakh 25.00

Creditors Rs lakh 25.00

Tangible net worth Rs lakh 300.00

Total debt Rs lakh 300.00

Total debt-equity ratio Times 1.00

Projected / estimated performance during 2016-17

Net sales Rs lakh 1,600.00

PBT Rs lakh 160.00

PBT margin % 10.00

Past financial performance Performance during 2016-17

Net sales Rs lakh 1,300.00

PBT Rs lakh 130.00

PBT margin % 10.00

Note: Net sales declined for the year 2016 as the company cancelled its contract with a few clients.

Profit and loss account

For the year ended 2013-14 2014-15 2015-16

Audited Audited Audited

Number of months 12 12 12

Net sales Rs lakh 1,093.39 1,157.67 1,477.21

Operating income Rs lakh 1,095.64 1,159.77 1,482.38

Cost of sales Rs lakh 971.50 1,107.84 1,437.54

OPBDIT Rs lakh 124.15 51.93 44.84

Interest and finance costs Rs lakh 31.72 40.85 40.91

OPBDT Rs lakh 92.43 11.08 3.93

Depreciation Rs lakh 5.40 15.18 9.08

OPBT Rs lakh 87.03 -4.10 -5.15

Non-operating income / (expense) Rs lakh -32.35 9.63 7.06

PBT Rs lakh 54.68 5.53 1.91

Extraordinary income / (expense) Rs lakh - 10.59 42.68

Reported PBT Rs lakh 54.68 16.12 44.59

Provision for taxes Rs lakh 17.35 7.94 18.23

Deferred tax liability / (asset) Rs lakh - -2.89 -0.60

PAT Rs lakh 37.33 11.07 26.96

Dividend Rs lakh - - -

Net cash accrual Rs lakh 42.74 26.26 36.04

Notes:

• Net sales increased for the years 2016 and 2015 as the company added new products to its product base and

due to addition made to its customer base.

• Operating income for the year 2016 included insurance claims received of Rs.1.85 lakh and miscellaneous

income of Rs.3.32 lakh.

• Operating income for the years 2016 and 2014 included insurance claims received of Rs.2.10 lakh and Rs.2.25

lakh, respectively.

• Interest and finance costs for the year 2016 comprised interest on borrowings of Rs.33.92 lakh and bank charges

of Rs.6.99 lakh.

• Interest and finance costs increased for the year 2016 as the company availed additional term loan from ICICI

Bank Limited.

• Interest and finance costs for the year 2015 increased on account of higher intra-year utilisation of the cash credit

facility availed from Yes Bank Limited.

• Depreciation for the years 2016 and 2015 was charged according to the provisions of the Companies Act, 2013.

• Depreciation for the year 2014 was charged according to the provisions of the Companies Act, 1956.

• Depreciation costs declined in the year 2016 on account of no major addition made to the fixed asset base.

• Depreciation costs increased for the year 2015, on account of addition made to the fixed asset base (land and

building, computer systems, furniture and fixtures, air conditioning systems, and office equipment).

• Non-operating income for the year 2016 comprised interest income received on bank account of Rs.2.27 lakh

and income from rate difference of Rs.4.79 lakh.

• Non-operating income for the year 2015 comprised foreign exchange gain of Rs.15.97 lakh, charges for C form

not received with penalty of Rs.1.51 lakh, and other non-operating income of Rs.0.58 lakh netted off against rate

difference of Rs.8.43 lakh.

• Non-operating expense for the year 2014 comprised foreign exchange loss of Rs.31.35 lakh, rate difference of

Rs.2.65 lakh and loss on sale of fixed asset of Rs.1.11 lakh netted off by other non-operating income of Rs 2.25

lakh, and interest income (on bank account) of Rs 0.51 lakh.

• Extraordinary income for the year 2016 refers to excess provisions written back.

• Extraordinary income for the year 2015 pertains to unsecured loans written off.

• Deferred tax for the years 2016 and 2015 was provided according to the provisions of the Companies Act, 2013.

• Deferred tax for the year 2014 was provided according to the provisions of the Companies Act, 1956.

• Income tax for the years 2016, 2015, and 2014 was provided according to the provisions of the Income Tax Act,

1961.

Balance sheet

31-Mar-2014 31-Mar-2015 31-Mar-2016


Liabilities

Tangible net worth Rs lakh 256.64 308.25 337.53

Deferred tax liabilities / (assets) Rs lakh 0.01 -2.88 -3.48

Long-term debt Rs lakh 47.28 28.10 60.78

of which, current portion of long-term debt Rs lakh - - -

Short-term debt Rs lakh 236.83 273.25 255.23

of which, working capital borrowing from

banks

Rs lakh 236.83 273.25 255.23

Other liabilities and provisions Rs lakh 143.11 180.11 268.99

Total liabilities Rs lakh 683.87 786.83 919.05

Assets

Net fixed assets Rs lakh 71.22 63.96 114.60

Investments Rs lakh 2.00 3.25 -

Inventory Rs lakh 358.96 432.52 332.58

Receivables (total) Rs lakh 184.91 187.65 328.34

of which, receivables greater than 6 months Rs lakh 23.37 17.45 -

Cash and bank balance Rs lakh 19.02 8.64 26.03

Other current assets Rs lakh 47.76 90.81 117.50

Total assets Rs lakh 683.87 786.83 919.05

Notes:

• Equity shares worth Rs.15.46 lakh were issued in 2014-15.

• Long-term debt as on March 31, 2016, comprised:

o Vehicle loan from Volkswagen Finance Private Limited of Rs.3.27 lakh

o Term loan from ICICI Bank Limited of Rs.49.51 lakh

o Interest-free unsecured loans availed from promoters and family of Rs.8.00 lakh

• Long-term debt increased as on March 31, 2016, as the company availed term loan from ICICI Bank Limited.

• Long-term debt decreased as on March 31, 2016, on account of partial repayment of term loan availed from Yes

Bank Limited.

• Short-term debt as on March 31, 2016, comprised cash credit availed from Yes Bank Limited.

• .

• Other liabilities and provisions as on March 31, 2016, comprised:

o Creditors for goods of Rs.130.15 lakh

o Deposits from customers of Rs.1.65 lakh

o Expenses payables of Rs.137.19 lakh

• Land and building, computer systems, furniture and fixtures, air conditioning systems, and office equipment were

the major fixed assets added as on March 2015. These were funded through internal accrual.

• Receivables greater than 6 months as on March 31, 2016, were good and recoverable, as confirmed by the

management.

• Receivables greater than 6 months as on March 31, 2015, and March 31, 2014, were recovered in the

subsequent years.

• Other current assets as on March 31, 2016, comprised:

o Loans and advance of Rs.96.70 lakh

o Statutory deposits of Rs.3.47 lakh

o Pre-paid expenses of Rs.0.14 lakh

o Loans to employees of Rs.0.36 lakh

o Advance tax paid of Rs.16.83 lakh

Key financial ratios

For the year ended / as at 31-Mar-2014 31-Mar-2015 31-Mar-2016


OPBDIT margin % 11.33 4.48 3.02

PAT margin % 3.41 0.95 1.82

Return on capital employed % 17.47 9.93 13.61

Gross current assets days 203 226 194

Days inventory (on COP) days 135 143 84

Days receivables (on gross sales) days 62 59 81

Days payables (on materials) days 55 81 48

Current ratio Times 1.61 1.59 1.53

PBDIT interest cover Times 2.89 1.77 2.31

Net cash accrual/Total debt % 15.04 8.71 11.40

Debt service coverage ratio Times 1.63 1.20 1.91

Average cost of borrowing % 12.37 13.96 13.25

Total outside liabilities/Tangible net worth Times 1.66 1.55 1.72

Gearing - Total debt/Tangible net worth Times 1.11 0.98 0.94

Gearing (considering promoter loans as

neither debt nor equity) Times 0.95 0.95 0.91

Notes:

• Operating margin declined for the years 2016 and 2015 on account of increase in traded goods costs as a

percentage of operating income.

• Receivables and payables for the years ended March 31, 2016, March 31, 2015, and March 31, 2014, were in

line with the credit terms of the company.

• The average cost of borrowing was high for the years ended March 31, 2016, and March 31, 2015, on account of

low year-end debt.

Fund flow statement

For the year ended 31-Mar-2015 31-Mar -2016

Sources of funds

Net cash accrual Rs lakh 26.26 36.04

Equity infusion / Share application money Rs lakh 40.54 2.32

Long-term debt borrowed (net) Rs lakh - 32.68

Short-term debt borrowed (net) Rs lakh 36.42 -

Decrease in net current assets Rs lakh - -

Sale of investments / fixed assets Rs lakh - -

Other sources Rs lakh 5.92 17.45

Total sources of funds Rs lakh 109.14 88.48

Uses of funds

Investment and fixed assets purchased Rs lakh 9.71 60.32

Decrease in tangible net worth Rs lakh - -

Long-term debt repaid (net) Rs lakh 19.18 -

Short-term debt repaid (net) Rs lakh - 18.02

Increase in net current assets Rs lakh 80.25 10.14

Other uses Rs lakh - -

Total uses of funds Rs lakh 109.14 88.48 Notes:

• Investment and fixed assets purchased for the year 2016 were funded through internal accrual and long-term

debt borrowed.

• Investment and fixed assets purchased for the year 2015 were funded through internal accrual.

• Other sources for the years 2016 and 2015 was primarily due to net decrease in receivables greater than 6

months.

• Net current assets increased in 2016 and 2015 primarily due net decrease in other current liabilities and

provisions.

Contingent liabilities Contingent liabilities as on fiscal 2016: Nil

Auditors XXX and Associates, Chartered Accountants

Office no. 1, X Wing, XXX XX Co-operative Housing Society (CHS)

Near XXX, XXX

XXX – 400 XXX, XXXX

Membership number – XXX XXX Auditors' comments and observations in their audit report for fiscal 2016, fiscal 2015, and fiscal 2014: No adverse comments and observation. Change in auditors, if any: None

Graphs

Banking facilities Name and location of

the bank

Length of

relationship

Facilities

availed

Type of facility Loan amount

sanctioned

Rate (%)

HDFC Bank Limited

Mumbai, Maharashtra 10 years

Current

account Not applicable

Yes Bank Limited

Mumbai, Maharashtra 4 years Cash credit Fund-based limit Rs 300.00 lakh

12.00

Volkswagen Finance Private Limited

Mumbai, Maharashtra 2 years Vehicle loan Fund-based limit Rs 3.27 lakh*

ICICI Bank Limited

Mumbai, Maharashtra 2 years Term loan Fund-based limit Rs 49.51 lakh*

*Outstanding as on March 31, 2016

Feedback: The account performance is good. CRISIL has verbally received feedback from financial institutions

and banks.

Site visit – I Address of the site visited : 01, HBC Building


Turner Road


Date of site visit : October X, 2017

No. of floors occupied : One

Size of premises : 908 sq. ft.

Number of employees at the location : 45 (at the time of the visit)

Child labour at the site : No

Locality : Industrial and commercial

Location area : Urban

Site location : Highway

Site used as : � Administrative office

� Regional office

� Sales office

Site layout : Spacious and well-organised

Space around building/structure : • Front porch

• Backyard

• Side space

State of infrastructure : • Power: Stable

• Backup power: Available

• Water: Available

• Labour unions: None

• Transportation: Easily available

• Overall infrastructure: Satisfactory

Electricity consumption : 200 units per month

Building structure : Permanent structure

Ownership of premises : Owned

Sharing premises with group concerns : No

Facilities available at the site • Telephone

• Internet

• Fax

• Generator

• Security guards

• Fire extinguisher

• Drinking water

• Elevators

• Transport arrangement

• Boundary wall

• Drainage and sewerage

• Pantry and canteen

Site visit – II Address of the site visited : 02, Opposite Sudardhan

Joint Road, Bhabai Naka


Date of site visit : October X, 2017

No. of floors occupied : One

Size of premises : 3,000 sq. ft.

Number of employees at the location : 3 (at the time of the visit)

Child labour at the site : No

Locality : Industrial

Location area : Semi-urban

Site location : Main road

Site used as : Warehouse

Site layout : Spacious and well-organised

Space around building/structure : Front porch

State of infrastructure : � Power: Stable

� Backup power: Available

� Water: Available

� Labour unions: None

� Transportation: Easily available

� Overall infrastructure: Satisfactory

Electricity consumption : 800 units per month

Building structure : Permanent structure

Ownership of premises : Owned

Sharing premises with group concerns : No

Facilities available at the site • Internet

• Fax

• Generator

• Name or sign boards

• Fire extinguisher

• Drinking water

• Transport arrangement

THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK

CRISIL SME Ratings Contacts

Head Office

CRISIL House

Central Avenue

Hiranandani Business Park

Powai, Mumbai 400 076

Tel: +91 22 3342 3000

Fax: +91 22 3342 3001

Contact: Mr. Saket Sinha E-mail: [email protected] Mr. Sandeep Pavani E-mail: [email protected]

CRISIL Branch Offices

Ahmedabad

Unit No. 706, 7th Floor, Venus Atlantis, Prahladnagar, Satellite, Ahmedabad - 380015 INDIA Phone : +91 79 4024 4500 Fax : +91 79 4024 4520

Contact: Mr. Pranav Ranjan

E-mail: [email protected]

Bengaluru

W - 101, 1st floor, Sunrise

Chambers,22, Ulsoor Road,

Bengaluru - 560042

INDIA

Phone: +91 80 4244 5399

Fax: +91 80 4244 5300

Contact: Mr. Bharath BC


Chennai

Thapar House, Mezzanine Floor, No. 37 Montieth Road, Egmore, Chennai - 600 008 INDIA Phone: +91 44 2854 6205 - 06 / 91-44-2854 6093 Fax: +91 44 2854 7531

Contact:

Mr. Surendran Jayasankaran


Gurgaon

CRISIL House Plot No. 46, Sector 44, Opp PF Office, Gurgaon, Haryana, INDIA Phone: +91 0124 672 2000

Contact:

Mr. Salil Chaturvedi E-mail: [email protected]

Mr. Rahul Sondhi E-mail: [email protected]

Mr Kunal Raman E-mail: [email protected]

Hyderabad

Uma Chambers, 3rd Floor, Plot No. 9&10, Nagarjuna Hills, Near Punjagutta Cross Road Hyderabad - 500 082 INDIA Phone: +91 40 2335 8103 - 05 Fax: +91 40 2335 7507

Contact: Mr. Sunil Veparala

E-mail : [email protected]

Kolkata

Convergence Building 3rd Floor, D2/2, EPGP Block Sector V, Salt Lake City, Kolkata - 700 091 INDIA Phone: +91 33 4011 8200 Fax: +91 33 4011 8250

Contact: Ms. Sona Singh E-mail: [email protected]

Mr. Rashid Raza Jafri E-mail: [email protected]

Pune

1187/17, Ghole Road Shivaji Nagar Pune 411 005 Tel: +91 20 4018 1900

Fax: +91 20 4018 1930

Contact:

Mr. Rahul Prasad E-mail: [email protected]

Ms Renu Chauhan Email: [email protected]

Other Contact Points Bhubaneswar

CRISIL Limited

N 6/263, IRC Village,

Nayapalli,

Near Biju Pattanayak Collage

Bhubaneswar

Odisha – 751015

Tel: +91 0674 6959595

Contact:

Ms. Sona Singh E-mail: [email protected]

Mr. Amit Srivastava E-mail: [email protected]

Coimbatore

CRISIL Limited

New No. 750-7, Old No. 1055-6,

1st Floor Gowtham Centre.

Opposite Nilgiris, Avinashi Road

Coimbatore – 641 018

Tel: +91 422 224 4559

Contact: Mr. Balakrishnan B


Kanpur

CRISIL Limited

404/A, Anand Tower

117/K/13, Sarvo

Kanpur - 208025

Contact: Mr. Kunal Raman

Email: [email protected]

Ludhiana

CRISIL Limited

Sai Tower 202, Industrial Area – A

Ludhiana – 141003

Tel: +91 161 501 1575

Contact:

Mr. Tejinder Pal Singh


Mr. Sukhjeet Singh


Mohali/ Chandigarh

CRISIL Limited

SCF-29,Top Floor, Phase -5

Mohali- 160055

Tel: +91 172 502 7196 / 97

Contact:

Mr. Tejinder Pal Singh E-mail: [email protected]

Mr. Dharmesh Handa E-mail: [email protected]

New Delhi

S 205, Dev Tower,

Samachar Market,

Mayur Vihar, Ext Phase I,

New Delhi – 110091

Contact: Mr. Amit Swarnkar


Argentina | China | Hong Kong | India | Poland | Singapore | UK | USA

CRISIL Limited: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai – 400076. India

Phone: + 91 22 3342 3000 | Fax: + 91 22 3342 3001 | www.crisil.com

About CRISIL Limited

CRISIL is a global, agile and innovative analytics company driven by its mission of making markets function better. We are

India’s foremost provider of ratings, data, research, analytics and solutions. A strong track record of growth, culture of innovation

and global footprint sets us apart. We have delivered independent opinions, actionable insights, and efficient solutions to over

100,000 customers.

We are majority owned by S&P Global Inc., a leading provider of transparent and independent ratings, benchmarks, analytics

and data to the capital and commodity markets worldwide.

About CRISIL Ratings

CRISIL Ratings is part of CRISIL Limited (“CRISIL”). We pioneered the concept of credit rating in India in 1987. CRISIL is

registered in India as a credit rating agency with the Securities and Exchange Board of India (“SEBI”). With a tradition of

independence, analytical rigour and innovation, CRISIL sets the standards in the credit rating business. We rate the entire range

of debt instruments, such as, bank loans, certificates of deposit, commercial paper, non-convertible / convertible / partially

convertible bonds and debentures, perpetual bonds, bank hybrid capital instruments, asset-backed and mortgage-backed

securities, partial guarantees and other structured debt instruments. We have rated over 24,500 large and mid-scale corporates

and financial institutions. CRISIL has also instituted several innovations in India in the rating business, including rating municipal

bonds, partially guaranteed instruments and microfinance institutions. We also pioneered a globally unique rating service for

Micro, Small and Medium Enterprises (MSMEs) and significantly extended the accessibility to rating services to a wider market.

Over 95,000 MSMEs have been rated by us.

CRISIL Privacy Notice CRISIL respects your privacy. We use your contact information, such as your name, address, and email id, to fulfil your request and service your account and to provide you with additional information from CRISIL and other parts of S&P Global Inc. and its subsidiaries (collectively, the “Company”) you may find of interest. For further information, or to let us know your preferences with respect to receiving marketing materials, please visit www.crisil.com/privacy. You can view the Company’s Customer Privacy at https://www.spglobal.com/privacy Last updated: April 2016

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