report on pilot testing ofsidhiee.beeindia.gov.in/documents/knowledge_bank/report...industry-wise...

Prepared by:

Model Development Team

CARE Ratings, EVI & Kalypto

Report on

Pilot testing of

Integrated Credit Rating

Model Embedded with Green

Parameters

2

Table of Contents Pilot Testing ............................................................................................................................................................ 4

Brief profile of targeted clusters ..................................................................................................................... 5

Methodology for selection of units from clusters ..................................................................................... 8

Problems faced .................................................................................................................................................. 9

Profile of Final Sample for pilot testing ..................................................................................................... 10

Cluster-wise profile ...................................................................................................................................... 10

Industry-wise profile.................................................................................................................................... 10

Turnover and Fixed Assets wise profile ............................................................................................... 11

Category-wise profile ................................................................................................................................... 12

Constitution wise profile ............................................................................................................................ 12

List of Entities ...................................................................................................................................................... 13

Pilot Testing Results: ........................................................................................................................................ 15

Credit Enhancement owing to implementation of green measures .......................................... 16

Category Classification ................................................................................................................................ 17

Key Findings ......................................................................................................................................................... 18

Rating Distribution........................................................................................................................................ 18

Cluster wise Rating Distribution ............................................................................................................. 19

Credit Enhancement ..................................................................................................................................... 19

Proposed Changes.............................................................................................................................................. 20

Selection Guide ............................................................................................................................................... 20

Operational Risk Parameters ................................................................................................................ 20

Notch-up/Notch-down Parameter ..................................................................................................... 21

Clarification on ranges ............................................................................................................................ 21

Changes in Model Algorithm ..................................................................................................................... 22

Discounting on Category basis in green score ............................................................................... 22

Redefining green score ranges ............................................................................................................. 22

Impact of critical parameters ............................................................................................................... 23

Energy Efficiency measurement parameters ................................................................................. 23

3

Impact of critical event ............................................................................................................................ 24

Revised Pilot Testing Results: ....................................................................................................................... 25

Credit Enhancement owing to implementation of green measures .......................................... 26

Key Findings ......................................................................................................................................................... 27

Final Rating Distribution ............................................................................................................................ 27

Credit Enhancement ..................................................................................................................................... 28

Annexures ............................................................................................................................................................. 29

Contact details of Sample ........................................................................................................................... 29

Financial details received ........................................................................................................................... 33

Final Rating Output ....................................................................................................................................... 35

4

Pilot Testing

MSME units display high level of diversity, the definition of MSME itself suggests that

medium enterprises are 40 times that of micro enterprises (maximum capital investment

based calculation). Within a cluster, although the units share a commonality (hence a

cluster) but huge differences do exist; major variations that are expected are the scale of

automation, size of operation, fuel type and technology. Many a times, the variations are

driven by external factors including intervening agencies. The philosophy of the

intervening agency can make feed variations in the functioning of the MSME sectors; i.e. a

funding tied to technology will have a different impact than an intervention that is process

focused. Likewise, multiple social, economic and regulatory factors shape the cluster

diversity.

During the pilot testing of the MSME units, the diversity among the units in the same

cluster was captured in the sample for the units. This helped in identification of limitations

of the designed rating tool.

Pilot study is conducted for the MSMEs operating in five clusters viz. Kolhapur (Foundry),

Pune (Forging), Tirunelveli (Limekilns), Ankleshwar (Chemicals) and Faridabad (Mixed).

Later on Vatva (Dyes & Chemical) clustes was added due to the limited response from units

in other clusters.

5

Brief profile of targeted clusters

Kolhapur Foundry Cluster

Kolhapur is a medium sized town in the state of Maharashtra, located at a distance of

approximately 400 km from the state capital Mumbai. Kolhapur is a big energy intensive

industrial town comprising of a number of iron / steel Foundry units. The cluster

comprises of more than 350 Foundry units which convert iron/steel scrap, pig iron into

high end utility castings. The foundries in Kolhapur cluster are one of the prominent ones

in India and cater to the market for high end castings in the automotive and electrical

machinery sectors. The major components being produced in the cluster include

automotive components, flywheels, motor and pump casings etc.

The mojor fuel used is the electricity and coke for meting purpose. The principal parameter

for measurement of energy efficiency characteristic of an induction furnace is kWh

consumption per unit melting and holding of metal whilethe energy efficiency parameter

for cupola operation is measurement of coke to metal ratio.

Pune Forging Cluster

Pune is one of the prominent forging industry clusters with allied heattreatment and

machining processes for manufacturing auto-components in the country. The cluster

comprises of approximate160 forging units. The Pune cluster has developed into a

manufacturing hub for many industries like automobiles, chemicals, sugar, and auto allied

industries, such as forging industries.

The major raw materials used in the Pune forging units include carbon steel, alloy steel,

stainless steel, aluminium, super alloy, special steels, non-ferrous metals, titanium, and so

on. The products after forging are heat treated and machined for use in various types of

automobile and engineering products.

The processes used by the forging and heat treatment units are highly energy consuming

and energy intensive. Different types of energy, such as electricity, Natural Gas (NG),

Liquefied Petroleum Gas (LPG), Light Diesel Oil (LDO), Furnace Oil (FO), and High Speed

6

Diesel (HSD) are used in the forging units. Electricity is used for heating in induction

furnaces and resistive heating in heat treatment furnaces.

Tirunelveli Limekiln cluster

Tirunelveli district located in Southern Tamil Nadu, is well endowed with mineral

resources. According to state government estimates there are over 100MSME industries in

the cluster, generating. As per Tamil Nadu Pollution Control Board, it is understood that

requests for “consent to establish’, continue to be received. The location of cluster is

strategic with access to several industries having demand for industrial grade lime.

The main sources of energy in the cluster are electricity (50-55 kWh per ton of lime) and

wood based charcoal (180 kg per ton of lime). Energy cost as a percent of total

manufacturing cost is about 67.5%.

Ankleshwar Chemical Cluster

Ankleshwar is an industrial town located in the Bharuch district of Gujarat. The

Ankleshwar Industrial Estate was set up by the Gujarat Industrial Development

Corporation (GIDC) in the 1970s. The industrial estate has more than 1,200 industries

manufacturing diverse range of chemicals, pesticides, pharmaceuticals, bulk drugs,

petroleum products, engineering, textiles, plastics, rubber, and packaging. Ankleshwar

chemical cluster houses a number of large scale and MSME units, which manufacture

various types of chemical products. Chemical units in Ankleshwar are finding it hard to

obtain necessary clearances for expansion of their plants from the pollution control board

due to their critically polluting nature.A lot of basic chemicals are used as raw materials to

manufacture major chemical products like dyes and dye intermediates, pigments,

pesticides, petrochemicals, and so on. The major source of energy is Gas and electricity. To

implement the energy efficient measures, the use of conventionally designed/obsolete

technologies and out-dated operating practices are the major challenges in the cluster.

7

Faridabad Mixed Cluster

Faridabad, one among the 21 districts in the state of Haryana, came into existence on

15thAugust 1979 and is situated in the South East corner. The top 3 industry segments

catering to 60% of the overall number of units present in Faridabad are the Automobile

Parts (35%), Sheet Metal Components (14%) & Fabrication (11%).The industrial estate has

more than 2,000 industries across different sectors. Thus the major raw material

consumed in Faridabad are metal sheets of different gauges and the type of products

manufactured are Spring Leaves, Clutch Plates, Steel Tubes, Bumpers, all kinds of metal

auto parts, Cranes, Fans, Exhaust Systems, Heat Exchanger etc. Among the 15 industrial

segments majorly present in Faridabad, the major 7 types of energy used are Electricity,

Diesel, Coal/Coke, piped Natural Gas, Liquefied Petroleum Gas, Furnace Oil and Pet Coke.

Vatva dyes & Chemical Cluster

Vatva is an industrial town located in the Vatva district of Gujarat. Vatva Industrial Estate,

Ahmedabad was started in the year 1968, when GIDC took steps to initialize the industrial

revolution of Gujarat. Vatva is one of the oldest and largest industrial estates in the state,

spread over an area of about 527 hectares and has over 2500 industrial units in four

phases. This estate is a part of Ahmedabad Municipal Corporation (AMC).

The major type of industry includes Dyes & Dye-intermediates, Engineering, Food &

Pharmaceuticals, Foundries, Plastic & Rubber and Textiles. The major source of energy is

Gas and electricity. To implement the energy efficient measures, the use of conventionally

designed/obsolete technologies and out-dated operating practices are the major challenges

in the cluster.

8

Methodology for selection of units from clusters The MSME units for testing of the ‘green rating’ tool were selected to capture technology,

size, fuel type and other green interventions in the cluster.

This selection was done in a way that there is a fair representation of all the different levels

of SMEs operating in that cluster. Due to the small size of the sample, the margin of error

would be high but that would be the inherent limitation considering the scope of the study.

At same time it was kept in consideration that being in a cluster setting, the firms display

many homogenous characteristics in their businesses as well as socio-cultural

backgrounds, thus making many generalizations feasible.

Since the number of units to be selected for the pilot testing is <30, hence no statistical tool

was applied to select the units. A random convenience based approach was followed to

select 25 units.

The following approach was taken to finalize the MSME units for pilot testing:

1. Using CARE’s client Database: CARE has its own client base in the identified

clusters. CARE has rated over 300 entities in identified clusters. The primary

sampling was done based on size of operations and the industry type.

2. Clubbing and selecting randomly (stratified sampling): The sample units were

also selected by engaging the local MSME association. Prior to approaching units,

the association was briefed on the objective of the exercise. Association was

motivated to share information on the efficiency and sustainability centric

approaches adopted by the units in the cluster. The associations

provided/suggested certain units which could be included in sample study. The

following association was approached for units selection:

a. Vatva Industry Association

b. Tirunelveli (Nellai) Lime Manufacturers welfare Association

c. Kolhapur Engineering Association

d. Kolhapur Engineering Association

e. Ankleshwar Industries Association

f. Faridabad Small Industries Association

9

Stage 1: Stage one involved primary interaction with the entities for the pilot study. Based

on CARE rated enterprises database and data provided by industry Associations, a list of

entities were compiled and telephonic interaction was done to obtain their first response.

Approximate 510 units were contacted during Stage 1.

Stage 2: Out of the total units contacted during Stage 1, only 101 responded positively to

whom details of the project were sent and benefits of becoming part of the pilot testing and

implementing green measures were explained. Due to limited response from SMEs, the

matter was appraised with SIDBI and based on its suggestion units operating in similar

industry but operate in different cluster was included. The cluster-wise breakup of the

same is as follows:

Cluster Units approached Kolhapur 21

Pune 20 Tirunelveli 5

Ankleshwar 25

Faridabad 25 Vatva 5

Total 101

Stage 3: Out of the total units contacted during Stage 2, many had denied during personal

visit and at time of sharing data and final 25 units selection was made reflecting low

success rate of 5%.

Problems faced

These clusters are located in different part of India having lingual barriers

Units were reluctant to share financial data

Units were not interested for being evaluated on Green parameters

Limited awareness on green measures among MSMEs

10

Profile of Final Sample for pilot testing

Cluster-wise profile

The final sample represents all clusters with minimum 2 units in each cluster as per project

requirement.

Industry-wise profile

Industry No. of units

Metal Products 6

Chemicals 5

Capital Goods 4

Limestone 3

Electronic products 2

Plastic Products 2

Pharmaceuticals 1

Forging 1

Aluminium 1

Grand Total 25

The sample selection covers 9 industries reflecting diversified sample base.

2, 8%

5, 20%

3, 12%

3, 12%

10, 40%

2, 8%

Clusterwise sample

Kolhapur

Pune

Tirunelveli

Ankleshwar

Faridabad

Vatva

11

Turnover and Fixed Assets wise profile

The final sample represents all type of enterprises i.e. Micro, Small and Medium enterprises

thereby ensuring the diversity of sample to measure the effectiveness of model.

Less than Rs.500 lakh

24%

Rs.500 lakh - Rs.2500 lakh

20%

More than Rs.2500 lakh

56%

Turnover wise breakup

Less than Rs.100 lakh 32%

Rs.100 lakh - Rs.500 lakh

28%

More than Rs.500 Lakh 40%

Fixed Assets wise Breakup

12

Category-wise profile

The final sample represents all type of enterprises in terms of category i.e. Red category,

Orange category and Green Category thereby ensuring the diversity of sample to measure

the effectiveness of model.

Constitution wise profile

Majority of enterprises of are private limited entites in sample but there is fair

representaion of proprietorship and partnership firm as well. Also, one of the entites is

listed on BSE viz. “Cenlub Industries Limited“.

Green Category 48%

Orange Category

20%

Red Category 32%

Category wise distribution

02468

1012

Proprietorship Partnership Private Limited Public Limited

3 5

12

5

13

List of Entities

SNO Company Name Cluster Industry Brief Description of industry

1 Natarajan Enterprises Tirunelveli Limestone Limestone product

2 Natarajan Lime Enterprises Tirunelveli Limestone Limestone product

3 VMP Enterprises Tirunelveli Limestone Limestone product

4 Aries Dyechem Industries Vatva Chemicals

Manufacturing of chemicals used in textile industry

5 Aries Organics Pvt. Limited Vatva Chemicals


6 Belmarks Private Limited Faridabad Metal Products

Capital goods and Engineering components

7 Alcon Products Private Limited Faridabad Metal Products Iron and steel products

8 Elkay Telelinks Limited Faridabad Electronic products

Manufacturing of telecom cables

9 Samruddhi Industries Limited Kolhapur Plastic Products

Manufacturing of Household plastics products

10 Maschio Gaspardo India Pvt Ltd Pune Capital Goods

Manufacturing of agricultural equipments

11

Universal Tube Accessories Private Limited Pune Metal Products

Manufacturing of steel tools and pipes accessories

12 Anant Enterprise Pune Aluminum Manufacturing of aluminium castings

13 Koncentric Forge Private Limited Pune Forging

Manufacturing of open die heavy metal forging products

14 Weartech Alloys Private Limited Faridabad Metal Products

Manufacuring of Non-Ferros alloys products

15 Ajay Engineering Works Faridabad Metal Products

Manufacturing of Sheet Metal Components, Deep Draw Components, Sheet Metal Parts and Wire Forming Components

14

16

P. P. Rolling Mills Manufacturing Co. Pvt. Ltd. Faridabad Capital Goods

Manufacturing of engineering items like Mill stands, Shears & Saws, Cooling Beds etc. Coilers, TMT Equipments,

17 Cenlub Industries Limited Faridabad Capital Goods

Manufacturing of Lubricating systems

18 Gemco Control Limited Faridabad Capital Goods

Manufacturing of control panels

19 Samruddhi Value Marketing Limited Kolhapur Plastic Products

Manufacturing of plastic products like brooms, Mats etc.

20 Trinity Touch Pvt Ltd Faridabad Electronic products

Computed and electronic products

21 M/s Dayaram Healthcare Ankaleshwar Chemicals

Manufacturing of Solvents, Drug intermediates; Active Pharmaceutical Ingradients & Speciality Products

22 Kunal Conchem Private Limited Faridabad Chemicals

Manufacturing of Construction Chemicals

23

Meridian Chem Bond Private Limited Ankaleshwar Chemicals

Manufacturing of chemicals used in pharma industry

24

Danopharm Chemicals Private Limited Ankaleshwar Pharmaceuticals

Manufacturing of Bulk drugs

25 Alok Fabrications Pune Metal Products Capital goods and Engineering components

Pilot Testing Results:

SNO Company Name Cluster Rating SME Rating

SME Score (Out of 100)

Green Rating

Green Score (out of 97.5)

1 Natarajan Enterprises Tirunelveli IR SME 4B SME 4 66.10 B 53.76

2 Natarajan Lime Enterprises Tirunelveli IR SME 5B SME 5 55.68 B 57.86

3 VMP Enterprises Tirunelveli IR SME 4B SME 4 60.90 B 48.49

4 Aries Dyechem Industries Vatva IR SME 3B SME 3 76.26 B 51.17

5 Aries Organics Pvt. Limited Vatva IR SME 2B SME 2 78.46 B 53.33

6 Belmarks Private Limited Faridabad IR SME 3A SME 3 71.58 A 81.06

7 Alcon Products Private Limited Faridabad IR SME 4B SME 4 59.88 B 54.81

8 Elkay Telelinks Limited Faridabad IR SME 3A SME 3 72.39 A 66.93

9 Samruddhi Industries Limited Kolhapur IR SME 2A SME 2 87.95 A 89.19

10 Maschio Gaspardo India Pvt Ltd Pune IR SME 1A SME 1 90.63 A 73.89

11 Universal Tube Accessories Private Limited Pune IR SME 1A SME 1 93.34 A 70.30

12 Anant Enterprise Pune IR SME 2B SME 2 84.58 B 50.59

13 Koncentric Forge Private Limited Pune IR SME 5B SME 5 57.50 B 41.64

14 Weartech Alloys Private Limited Faridabad IR SME 2A SME 2 83.92 A 68.13

15 Ajay Engineering Works Faridabad IR SME 3B SME 3 73.05 B 62.72

16 P. P. Rolling Mills Manufacturing Co. Pvt. Ltd. Faridabad IR SME 2A SME 2 79.43 A 74.69

17 Cenlub Industries Limited Faridabad IR SME 1A SME 1 89.58 A 74.69

18 Gemco Control Limited Faridabad IR SME 1A SME 1 88.05 A 88.29

19 Samruddhi Value Marketing Limited Kolhapur IR SME 2A SME 2 86.49 A 81.07

20 Trinity Touch Pvt Ltd Faridabad IR SME 2A SME 2 83.51 A 79.22

21 M/s Dayaram Healthcare Ankaleshwar IR SME 3A SME 3 70.55 A 86.21

22 Kunal Conchem Private Limited Faridabad IR SME 2A SME 2 82.31 A 84.32

23 Meridian Chem Bond Private Limited Ankaleshwar IR SME 2A SME 2 83.34 A 83.64

24 Danopharm Chemicals Private Limited Ankaleshwar IR SME 3A SME 3 68.14 A 86.96

25 Alok Fabrications Pune IR SME 2A SME 2 83.74 A 72.45

16

Credit Enhancement owing to implementation of green measures

SNO Company Name Cluster SME Rating

SME rating without enhancement by green rating Credit Enhancement

1 Natarajan Enterprises Tirunelveli SME 4 SME 4 No 2 Natarajan Lime Enterprises Tirunelveli SME 5 SME 5 No 3 VMP Enterprises Tirunelveli SME 4 SME 5 Yes 4 Aries Dyechem Industries Vatva SME 3 SME 3 No 5 Aries Organics Pvt. Limited Vatva SME 2 SME 3 Yes 6 Belmarks Private Limited Faridabad SME 3 SME 4 Yes 7 Alcon Products Private Limited Faridabad SME 4 SME 5 Yes 8 Elkay Telelinks Limited Faridabad SME 3 SME 4 Yes 9 Samruddhi Industries Limited Kolhapur SME 2 SME 3 Yes

10 Maschio Gaspardo India Pvt Ltd Pune SME 1 SME 3 Yes 11 Universal Tube Accessories Private Limited Pune SME 1 SME 2 Yes 12 Anant Enterprise Pune SME 2 SME 2 No 13 Koncentric Forge Private Limited Pune SME 5 SME 5 No 14 Weartech Alloys Private Limited Faridabad SME 2 SME 3 Yes 15 Ajay Engineering Works Faridabad SME 3 SME 3 No 16 P. P. Rolling Mills Manufacturing Co. Pvt. Ltd. Faridabad SME 2 SME 3 Yes 17 Cenlub Industries Limited Faridabad SME 1 SME 2 Yes 18 Gemco Control Limited Faridabad SME 1 SME 2 Yes 19 Samruddhi Value Marketing Limited Kolhapur SME 2 SME 3 Yes 20 Trinity Touch Pvt Ltd Faridabad SME 2 SME 3 Yes 21 M/s Dayaram Healthcare Ankaleshwar SME 3 SME 4 Yes 22 Kunal Conchem Private Limited Faridabad SME 2 SME 3 Yes 23 Meridian Chem Bond Private Limited Ankaleshwar SME 2 SME 2 No 24 Danopharm Chemicals Private Limited Ankaleshwar SME 3 SME 4 Yes 25 Alok Fabrications Pune SME 2 SME 3 Yes

17

Category Classification

SNO Company Name Cluster Category Type 1 Natarajan Enterprises Tirunelveli Red Category 2 Natarajan Lime Enterprises Tirunelveli Red Category 3 VMP Enterprises Tirunelveli Red Category 4 Aries Dyechem Industries Vatva Red Category 5 Aries Organics Pvt. Limited Vatva Red Category 6 Belmarks Private Limited Faridabad Green Category 7 Alcon Products Private Limited Faridabad Green Category 8 Elkay Telelinks Limited Faridabad Green Category 9 Samruddhi Industries Limited Kolhapur Orange Category

10 Maschio Gaspardo India Pvt Ltd Pune Orange Category 11 Universal Tube Accessories Private Limited Pune Orange Category 12 Anant Enterprise Pune Orange Category 13 Koncentric Forge Private Limited Pune Red Category 14 Weartech Alloys Private Limited Faridabad Green Category 15 Ajay Engineering Works Faridabad Green Category 16 P. P. Rolling Mills Manufacturing Co. Pvt. Ltd. Faridabad Green Category 17 Cenlub Industries Limited Faridabad Green Category 18 Gemco Control Limited Faridabad Green Category 19 Samruddhi Value Marketing Limited Kolhapur Orange Category 20 Trinity Touch Pvt Ltd Faridabad Green Category 21 M/s Dayaram Healthcare Ankaleshwar Green Category 22 Kunal Conchem Private Limited Faridabad Green Category 23 Meridian Chem Bond Private Limited Ankaleshwar Red Category 24 Danopharm Chemicals Private Limited Ankaleshwar Red Category 25 Alok Fabrications Pune Green Category

Key Findings

Rating Distribution

Comments

In terms of Financial and operational rating, the sample has fairly distributed

ratings which range from SME 1 to SME 5 as compared to scale of SME 1 to SME 8.

The lower category is not in the sample, as weak entities did not co-operated for the

sample study.

The highest number of enterprises are rated IR SME 2A (32% of sample) resenting

high financial and operational strength and high green performance capability.

Hence these entities are not only financially and operationally strong but

implemented a series of measures to ensure compliance with air, waste

management and water norms, labor safety and environmental safety norms to

ensure sustainability of business model.

None of the entities have received “C” which could be due to two reasons

o Sample selection is biased towards better enterprises

o The ranges defined for “C” rating are too low for any enterprise to get “C”

Rating

Same is being analyzed in later part.

0

1

2

3

4

5

6

7

8

IR SME 1A IR SME 2A IR SME 2B IR SME 3A IR SME 3B IR SME 4B IR SME 5B

4

8

2

4

2

3

2

Rating Distribution

19

Cluster wise Rating Distribution

In terms of Cluster-wise representation, as per the scope, the sample has fairly

distributed cluster presence covering six clusters with minimum two entities in

each cluster.

In Ankaleshwar and Kolhpur cluster all entities have received high green

performance rating indicating the strict compliance to various norms.

Credit Enhancement

In terms of credit enhancement, 72% of entries had received better rating on

account of implementation of Green measures which shows that model covers one

of the important aspect of benefit of green measures implementation on overall

financial and operational strength rating.

0

1

2

3

4

5

6

7

8

9

10

Ankaleshwar Faridabad Kolhapur Pune Tirunelveli Vatva

2 2 1

4

2

1

1

1

2

2

1

1

1

2

1

1

IR SME 1A IR SME 2A IR SME 2B IR SME 3A IR SME 3B IR SME 4B IR SME 5B

No 28%

Yes 72%

Credit Enhancement

Proposed Changes

Selection Guide

Selection guide on some to the parameters has been modified to ensure the simplicity and clarity on selection of

parameter by an individual. The modified guide along with parameter is as follows:

Operational Risk Parameters

Parameter

Criteria Revised Guide Original Guide

3.4 Adequacy and availability of

Manpower

1 Adequate manpower and sourcing is easy

• For a unit with requirement of more unskilled labors, more weightage needs to be given to those companies which are located in the region where the adequate local labor is available. • Irrespective of demand supply of manpower, one should analyze the sourcing arrangements like training programs, tie-ups with Industrial training institutions (ITIs) and local labor unions. • Retaining of manpower should be analyzed as well.

For a unit with requirement of more unskilled labors, more weightage needs to be given to those companies which are located in the region where the adequate local labor is available.

2 Adequate manpower but sourcing is difficult

3 Inadequate manpower but sourcing is easy

4

Inadequate manpower and sourcing is difficult

3.7 Customer Profile

1 Very well-known and well diversified

• The sales value wise top customers need to be analyzed in order to give a score. The sales proportion to the reputed and well known customer needs to be analyzed in order to arrive at score. • In case of export operations, a company may have single distributor as a customer, so it should not be seen negatively and proper analysis is required in terms of end users.

The sales value wise top customers need to be analyzed in order to give a score. The sales proportion to the reputed and well known customer needs to be analyzed in order to arrive at score.

2 Known and Less diversified

3 Well Diversified

4 Moderately Diversified

5 Unorganized and concentrated Customers

21

Notch-up/Notch-down Parameter

Parameter

Criteria Revised Guide Original Guide

6.2 Group

Support

1

Very strong group support with entity being a part of large group having sound financials and rated "A" and above

• First option is to be selected in case of very strong promoter group with main company being rated “A” band or above by external credit rating agency with clear intention of supporting the group entity. • In case of unrated group entity having strong financials with turnover of over Rs.1000 crore and no external debt, same can be considered for option 1 based on analyst discretion. • Second option is to be selected in case of strong operational linkages or financial support from group companies.

First option is to be selected in case of very strong promoter group with main company being rated “A” band or above by external credit rating agency with clear intention of supporting the group entity.

In case of unrated group entity having strong financials with turnover of over Rs.1000 crore and no external debt, same can be considered for option 1 based on analyst discretion.

2

Strong group support with operational linkages/financial support/Marketing and technological support

3 No Group Support/No visible benefit derived from group entities

4

Part of group which has track record of default or malpractices

Clarification on ranges – A note is added “Note: In Criteria column, upper limit value in the given range is excluded. (For

example in 5-8, 8 is not be considered for selection purpose)”.

Changes in Model Algorithm

Discounting on Category basis in green score

Background: During pilot testing and based on feedback on the model developed, it stood

out that entities operating as “Red Category” industries have stringent norms for

compliance and have higher operational and regulatory risk compared to “Orange and

Green” industries, thereby it is analyzed to whether same is being captured in the model or

not:

Under green rating model, there are six parameters which are specific for “Red

Category” units viz. AE1, AE2, WW2a, WW2b, WW2c and EC3 which had aggregate

score weightage of 14 out of total score of 97.5 under green ratings. These

parameters provide requisite framework to cover the risk associated higher

operational and regulatory risk.

Further, the project objective is to promote implementation of green measures by

SME and applying discounting to “Red Category” units would deter the

implementation of green measures in the same where it is most needed.

Outcome: No discounting parameter was applied in final model.

Redefining green score ranges

Background: No entity was included in “C” category. After the analysis of sample it was

found out that, on one hand sample is influenced towards better entities as selection is

based on co-operation from the entities but on other hand it was also felt that some of the

entities surveyed could fall under “C” category. Thus it was concluded that sample cannot

have normal curve distribution of ratings but ranges could be modified to ensures that

deserving entities can only fall under “A” and “B” category.

Outcome: The revised ranges are as follows:

Marks - Rating Guide Lower bound Upper Bound Rating

75% 75 97.5 A 50% 50 75 B 0% 0 50 C

23

Original Ranges

Marks - Rating Guide Lower bound Upper Bound Rating

66% 66 97.5 A 33% 33 66 B 0% 0 33 C

Impact of critical parameters

Background: One school of though was presented to include some parameters as critical

parameters (which are basis for green measures or to measure success of steps taken by

the unit). Among the model two such critical parameters are identified which are as

follows:

Operating without consents – “No” in Parameter EC 3 [Does the unit has all the valid

consents from the State Pollution Control Board) SPCB?]

Employing child labor – “Yes” in Parameter OHS 7 [Does the unit employ any child

labor?]

Outcome: Under above two circumstances, these parameters would act as overriding

parameters which constrains the rating under Green Model to “C” irrespective of the score

obtained.

Energy Efficiency measurement parameters

Background: There are various benefits involved with implementation on energy

efficiency measures; however, it is difficult to measure such impact. Parameters number

EE6-EE8 deals with such impact, however, same is difficult to measure and implement for

an SME owing to limited availability of funds. There were no weightages attached to these

parameters. Same is discussed with SIDBI representatives as well.

Outcome: These parameters were removed from final model. These parameters were:

Category

Code Question (please refer to the Annexure before administering this questionnaire)

Verification measure

Energy Saving and Efficiency

EE6 Has the unit ever undertaken any self-funded energy audit process?

Energy audit records

EE7 Has the energy audit been undertaken more than once? Energy audit records

EE8 Based on the energy audit reports, did the unit undertake any up-gradation or modification to enhance the productivity and efficiency within the industry?

Physical verification at site/energy audit records

24

Impact of critical event

Background: As per interaction with various dignitaries during presentation at Mumbai, it

was discussed to build-in some critical events which will have impact on the green rating

outcome. These events could be penalties/closure notices/non-compliance notices from

pollution control board and other related government bodies.

As per our analysis, event and its severity need to be decided to build-in impact of

such events. Also same needs to be simple enough to understand, measure and easy

to verify. One such event that was decided was closure of the unit due to non-

compliance of norms relating to Air emissions, Water emission, Labor safety and

Environment compliance. The severity is defined as duration of closure of unit

during particular time period.

Outcome: Following parameter was added and appropriate discounting is applied:

Category Code Question (please refer to the Annexure before administering this questionnaire)

Verification measure

Negative parameter

NP1

Have unit remained closed for more than 1 month cumulatively in past 1 year due to violation/non-compliance of any laws related to environment, health & safety, Child labor, Air emissions and water treatment.

Records/Interviews with the unit personnel

NP1

If NP1 is No, then Have unit remained closed for more than 1 month cumulatively in past 3 years due to violation/non-compliance of any laws related to environment, health & safety, Child labor, Air emissions and water treatment.

Records/Interviews with the unit personnel

Revised Pilot Testing Results:

SNO Company Name Cluster Rating SME Rating

SME Score (Out of 100)

Green Rating

Green Score (out of 97.5)

1 Natarajan Enterprises Tirunelveli IR SME 4B SME 4 67.47 B 53.76

2 Natarajan Lime Enterprises Tirunelveli IR SME 5B SME 5 57.46 B 57.86

3 VMP Enterprises Tirunelveli IR SME 5C SME 5 57.74 C 48.49

4 Aries Dyechem Industries Vatva IR SME 3B SME 3 77.43 B 51.17

5 Aries Organics Pvt. Limited Vatva IR SME 2B SME 2 79.49 B 53.33

6 Belmarks Private Limited Faridabad IR SME 3A SME 3 73.48 A 81.06

7 Alcon Products Private Limited Faridabad IR SME 5C SME 5 56.41 C 54.81

8 Elkay Telelinks Limited Faridabad IR SME 3B SME 3 69.13 B 66.93

9 Samruddhi Industries Limited Kolhapur IR SME 2A SME 2 87.95 A 89.19

10 Maschio Gaspardo India Pvt Ltd Pune IR SME 3B SME 3 72.46 B 73.89

11 Universal Tube Accessories Private Limited Pune IR SME 1B SME 1 88.83 B 70.30

12 Anant Enterprise Pune IR SME 2B SME 2 84.98 B 50.59

13 Koncentric Forge Private Limited Pune IR SME 4C SME 4 62.37 C 41.64

14 Weartech Alloys Private Limited Faridabad IR SME 2B SME 2 80.55 B 68.13

15 Ajay Engineering Works Faridabad IR SME 3C SME 3 68.85 C 62.72

16 P. P. Rolling Mills Manufacturing Co. Pvt. Ltd. Faridabad IR SME 3B SME 3 74.25 B 74.69

17 Cenlub Industries Limited Faridabad IR SME 2B SME 2 84.78 B 74.69

18 Gemco Control Limited Faridabad IR SME 1A SME 1 88.62 A 88.29

19 Samruddhi Value Marketing Limited Kolhapur IR SME 2A SME 2 86.68 A 83.26

20 Trinity Touch Pvt Ltd Faridabad IR SME 2A SME 2 84.27 A 79.22

21 M/s Dayaram Healthcare Ankaleshwar IR SME 3A SME 3 73.03 A 86.21

22 Kunal Conchem Private Limited Faridabad IR SME 2A SME 2 84.47 A 84.32

23 Meridian Chem Bond Private Limited Ankaleshwar IR SME 1A SME 1 90.70 A 83.64

24 Danopharm Chemicals Private Limited Ankaleshwar IR SME 3A SME 3 70.94 A 86.96

25 Alok Fabrications Pune IR SME 2B SME 2 78.62 B 72.45

26

Credit Enhancement owing to implementation of green measures

SNO Company Name Cluster SME Rating

SME rating without enhancement by green rating Credit Enhancement

1 Natarajan Enterprises Tirunelveli SME 4 SME 4 No 2 Natarajan Lime Enterprises Tirunelveli SME 5 SME 5 No 3 VMP Enterprises Tirunelveli SME 5 SME 5 No 4 Aries Dyechem Industries Vatva SME 3 SME 3 No 5 Aries Organics Pvt. Limited Vatva SME 2 SME 3 Yes 6 Belmarks Private Limited Faridabad SME 3 SME 4 Yes 7 Alcon Products Private Limited Faridabad SME 5 SME 5 No 8 Elkay Telelinks Limited Faridabad SME 3 SME 4 Yes 9 Samruddhi Industries Limited Kolhapur SME 2 SME 3 Yes

10 Maschio Gaspardo India Pvt Ltd Pune SME 3 SME 3 No 11 Universal Tube Accessories Private Limited Pune SME 1 SME 2 Yes 12 Anant Enterprise Pune SME 2 SME 2 No 13 Koncentric Forge Private Limited Pune SME 4 SME 5 Yes 14 Weartech Alloys Private Limited Faridabad SME 2 SME 3 Yes 15 Ajay Engineering Works Faridabad SME 3 SME 3 No 16 P. P. Rolling Mills Manufacturing Co. Pvt. Ltd. Faridabad SME 3 SME 3 No 17 Cenlub Industries Limited Faridabad SME 2 SME 2 No 18 Gemco Control Limited Faridabad SME 1 SME 2 Yes 19 Samruddhi Value Marketing Limited Kolhapur SME 2 SME 3 Yes 20 Trinity Touch Pvt Ltd Faridabad SME 2 SME 3 Yes 21 M/s Dayaram Healthcare Ankaleshwar SME 3 SME 4 Yes 22 Kunal Conchem Private Limited Faridabad SME 2 SME 3 Yes 23 Meridian Chem Bond Private Limited Ankaleshwar SME 1 SME 2 Yes 24 Danopharm Chemicals Private Limited Ankaleshwar SME 3 SME 4 Yes 25 Alok Fabrications Pune SME 2 SME 3 Yes

Key Findings

Final Rating Distribution

Comments

Revised rating distribution in fairly distributed which also includes “C” category in

Green performance capability rating.

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

5

IR SME1A

IR SME1B

IR SME2A

IR SME2B

IR SME3A

IR SME3B

IR SME3C

IR SME4B

IR SME4C

IR SME5B

IR SME5C

2

1

4

5

3

4

1 1 1 1

2

Rating Distribution

A 36%

B 48%

C 16%

Green Rating Distribution

28

Credit Enhancement

In terms of credit enhancement, 60% of entries (72% as per pervious model) had

received better rating on account of implementation of Green measures. The

reduction is due to 4 entitles falling in “C” category and revision in ranges.

Yes 60%

No 40%

Credit Enhancement

Annexures

Contact details of Sample

SNO

Company Name Cluster

Constitution Address Contact No. Website

1

Natarajan Enterprises

Tirunelveli

Partnership

81 - A, Madurai Raod, Tirunelveli -627357, Tamilnadu Mr. M Natrajan NA

2

Natarajan Lime Enterprises

Tirunelveli

Partnership

81 - A, Madurai Raod, Tirunelveli -627357, Tamilnadu Mr. M Natrajan NA

3

VMP Enterprises

Tirunelveli

Proprietorship

No.8/52, Muslim Street, Thalayuthu-627357

Mr. Mohammed Khan NA

4

Aries Dyechem Industries Vatva

Proprietorship

Aries Dye Chem Industries C-1 / 260, Phase - II, G.I.D.C., Vatva, Ahmedabad - 382445 Gujarat, India

Mr. Hitesh Patel, Finance Head +91 9825729145

http://www.ariesgroup.in/

5

Aries Organics Pvt. Limited Vatva

Private Limited

PLOT NO. 441, PHASE II, GIDC, VATVA AHMEDABAD - 382445

Mr. Hitesh Patel, Finance Head +91 9825729145

http://www.ariesgroup.in/

6

Belmarks Private Limited

Faridabad

Private Limited

125, Sector 24, Fairdabad

Mr. RK Bhatia, Ph No. 0129-4278000

http://www.belmaks.in/bpl.html

7

Alcon Products Private Limited

Faridabad

Private Limited

115,20/2, Mathura Rd, Faridabad, Sanjay Memo Indl Est,Nr Mujessar Railway Crossing, Faridabad - 121001

Mr. Singhal, 0129-4001635; 2266286 NA

8

Elkay Telelinks Limited

Faridabad

Public Limited

Plot 141, Sector 24, Sector 24, Faridabad, Haryana 121005 0129 418 2700

Mr. SK Kakkar, +91 9811301936

http://www.elkay.in/

9

Samruddhi Industries Limited

Kolhapur

Public Limited

Plot No.A-1, SAMRUDDHI PARK, Near Chintaman College, Opp. Vishrambag Railway Station,

Mr.Ram Patil, Finance Head Ph.: +91-233-2600317 E-mail : samruddhi@sam

http://samruddhi.com/



30

SANGLI – 416 415 MAHARASHTRA (INDIA)

ruddhi.com

10

Maschio Gaspardo India Pvt Ltd Pune

Private Limited

Plot No F 27 MIDC, Village Ranjangaon Tal Shirur Dist:Pune 412220

Mr Krishna Dash CFO Landline +91 02138 612500

http://www.maschionet.com/

11

Universal Tube Accessories Private Limited Pune

Private Limited

C-78/2, Addition M.I.D.C. Jejuri, Tal: Purandhar, Dist: Pune: 412303, Maharashtra

Mr. Dayanand Petkar (Director) -Mobile +91 90110 25697 Landline - +91 2115 253005, +91 2115 253006

http://www.utaccessories.com/

12

Anant Enterprise Pune

Partnership

F II Block, Plot No 4/1, MIDC Pimpri, Pune 411 018

Ms Kanchan Maydeo Finance Controller Landline Phone(s): +91 1763-222452, 220452

http://www.anantenterprises.com/

13

Koncentric Forge Private Limited Pune

Private Limited

Plot no.: G-8, Additional Industrial Area, M.I.D.C., Jejuri – 412 303, Taluka: Purandhar, District: Pune.

Mr. Suneel Gavali, Director Phone No. : +91 2115 254232 / +91 2115 254234

http://koncentricforge.com/

14

Weartech Alloys Private Limited

Faridabad

Private Limited

PLOT NO 44-D HSIIDC SECTOR-31 FARIDABAD-121003, HARYANA- INDIA

PHONE NO'S: +91-129-4163348 EMAIL ID: [email protected] MR ASHISH KALRA: +91-9810810720

http://weartechalloys.com/

15

Ajay Engineering Works

Faridabad

Partnership

Plot-3, Dabua-Pali Road, Faridabad

Ajay Kumar Singh, Director, Ph No. 9810631380

http://www.ajayenggworks.com/

16

P P Rolling Mills

Faridabad

Private Limited

Plot No. I-42, DLF Industrial Area, Phase-1, Faridabad-121003,

Mr Tarun Roy 9871092604 (Finance) accounts@pprm.

http://www.pprm.in/

31

Haryana in Mr Praneet-Director-9810076425, [email protected]

17

Cenlub Industries Limited

Faridabad

Public Limited

Plot No. 233-234, Sector-58, Ballabgarh, Faridabad - 121 004, Haryana

Mr K C Gupta, Manager, Ph No. 0129-2307029

http://www.cenlub.in/

18

Gemco Control Limited

Faridabad

Public Limited

14/3, Mathura Road, Faridabad-121003, Haryana ( India)

Mr. Mahesh Sachdeva Landline-91- 129 – 2274831, 2274832 Email Id: [email protected]

http://www.gemcocontrols.com/

19

Samruddhi Value Marketing Limited

Kolhapur

Public Limited

Plot No. 31, R.S.No. 262/264, Gat No. 1049, L.K. Akiwate, Audyogik, Sahakari Vasahat Ltd.,Kolhapur, Maharashtra

Mr. Omprakash Narayan Malu, Managing Director, Office Landline: 0233 2601617

http://familyshopee.com/about-us/

20

Trinity Touch Pvt Ltd

Faridabad

Private Limited

Trinity Touch Prithla-Dudhola Road, Dudhola Distt. Palwal, -121102, Haryana

Mr. Mohan Singh Bisht Tel. : +91-95822 20609 Email: [email protected]

www.trinitytouch.com/

21

M/s Dayaram Healthcare

Ankaleshwar

Partnership

Plot No. A-1 /4906/17, B/h. Paras Industries, G.I.D.C Estate, Ankleshwar - 393 002, Gujarat

Mr. SURESH BHADANI – Head of Operations Tel : +91 (2646) 251 199 E-mail: [email protected]

http://www.dayaramchem.com/

22

Kunal Conchem Private Limited

Faridabad

Private Limited

Kunal Conchem Private Limited Opposite Lingaya Engineering College Village Nicholi,

Mr. Kunal Managing Director Contact No.9810731621

www.kunalconchem.com

32

Neharpar, Faridabad, Haryana

23

Meridian Chem Bond Private Limited

Ankaleshwar

Private Limited

MERIDIAN CHEM BOND LTD 903, Raheja Centre, Free Press Journal Marg. Nariman Point, Mumbai — 400021.

Mr. S.N. Biswal Manager (Works) Contact no. 0246-225419

http://www.meridianchembond.com/

24

Danopharm Chemicals Private Limited

Ankaleshwar

Private Limited

C-1/7131;7132;7133, GIDC Estate, Ankleshwar – 393 002. Dist. Bharuch. India

Mr. J.B Das Managing Director Tel : 91 - 2646 223542 / 329742

http://www.danopharm.com/

25

Alok Fabrications Pune

Proprietorship

124, W Block, MIDC Bhosari,Pune,Dist.:Pune,Maharashtra-411026

Mr. Bijoy Mundada (Proprietor) +919822048785 NA

NA – Not Available

33

Financial details received

SNO Company Name Cluster Industry

Brief Description of industry

Financial period

1 Natarajan Enterprises Tirunelveli Limestone Limestone product

FY 12 (A) - FY14 (A)

2

Natarajan Lime Enterprises Tirunelveli Limestone Limestone product

FY 12 (A) - FY13 (A)

3 VMP Enterprises Tirunelveli Limestone Limestone product

FY 12 (A) - FY14 (A)

4 Aries Dyechem Industries Vatva Chemicals


FY 12 (A) - FY14 (A)

5 Aries Organics Pvt. Limited Vatva Chemicals


FY 12 (A) - FY14 (A)

6

Belmarks Private Limited Faridabad Metal Products


FY 11 (A)- FY 13 (A)

7

Alcon Products Private Limited Faridabad Metal Products Iron and steel products

FY 11 (A)- FY 13 (A)

8

Elkay Telelinks Limited Faridabad

Electronic products

Manufacturing of telecom cables

FY 11 (A)- FY 13 (A)

9

Samruddhi Industries Limited Kolhapur Plastic Products

Manufacturing of Household plastics products

FY 11 (A)- FY 13 (A)

10

Maschio Gaspardo India Pvt Ltd Pune Capital Goods

Manufacturing of agricultural equipments

FY 11 (A)- FY 13 (A)

11

Universal Tube Accessories Private Limited Pune Metal Products

Manufacturing of steel tools and pipes accessories

FY 12 (A) - FY13 (A)

12 Anant Enterprise Pune Aluminum

Manufacturing of aluminium castings

FY 11 (A)- FY 13 (A)

13

Koncentric Forge Private Limited Pune Forging

Manufacturing of open die heavy metal forging products

FY 11 (A)- FY 13 (A)

14

Weartech Alloys Private Limited Faridabad Metal Products

Manufacuring of Non-Ferros alloys products

FY 11 (A)- FY 13 (A)

15 Ajay Engineering Faridabad Metal Products

Manufacturing of Sheet Metal Components,

FY 11 (A)- FY 13 (A)

34

Works Deep Draw Components, Sheet Metal Parts and Wire Forming Components

16 P P Rolling Mills Faridabad Capital Goods

Manufacturing of engineering items like Mill stands, Shears & Saws, Cooling Beds etc. Coilers, TMT Equipments,

FY 11 (A)- FY 13 (A)

17

Cenlub Industries Limited Faridabad Capital Goods

Manufacturing of Lubricating systems

FY 12 (A) - FY14 (A)

18 Gemco Control Limited Faridabad Capital Goods

Manufacturing of control panels

FY 12 (A) - FY14 (A)

19

Samruddhi Value Marketing Limited Kolhapur Plastic Products

Manufacturing of plastic products like brooms, Mats etc.

FY 11 (A)- FY 13 (A)

20 Trinity Touch Pvt Ltd Faridabad

Electronic products

Computed and electronic products

FY 11 (A)- FY 13 (A)

21 M/s Dayaram Healthcare Ankaleshwar Chemicals

Manufacturing of Solvents, Drug intermediates; Active Pharmaceutical Ingradients & Speciality Products

FY 12 (A) - FY14 (A)

22

Kunal Conchem Private Limited Faridabad Chemicals

Manufacturing of Construction Chemicals

FY 12 (A) - FY14 (A)

23

Meridian Chem Bond Private Limited Ankaleshwar Chemicals

Manufacturing of chemicals used in pharma industry

FY 12 (A) - FY14 (A)

24

Danopharm Chemicals Private Limited Ankaleshwar Pharmaceuticals

Manufacturing of Bulk drugs

FY 10 (A) - FY12 (A)

25 Alok Fabrications Pune Metal Products


FY 12 (A) - FY14 (A)

35

Final Rating Output

Entity Name Natarajan Enterprises Industry categorization Red Final Rating IR SME 4B

Marks Table

Factor

Weighted

marks 1.Management Risk 14.8 2.Industry Risk 12.9 3.Operational Risk 8.5 4.Financial Risk 26.2 Total (Out of 100) 62.5

Score after factoring in credit enhancement due to implementation of green measures 67.5

SME rating based on score 4

Final Project Risk Score 100.0 Score considering project risk 67.5 Score considering Notch-up/Notch down Parameters 67.5

SME after project risk Rating 4 Other Notch-down Parameters

Impact of events occurring after balance sheet date 0 No. of notches Any other (Mention) 0 No. of notches

Final SME Rating SME 4

Green Rating Score

53.76

Green rating based on score B

36

Entity Name Natarajan Lime Enterprises Industry categorization Red Final Rating IR SME 5B

Marks Table

Factor

Weighted








Green Rating Score

57.86


37

Entity Name VMP Enterprises Industry categorization Red Final Rating IR SME 5C

Marks Table

Factor

Weighted








Green Rating Score

48.49

Green rating based on score C

38

Entity Name Aries Dyechem Industries Industry categorization Red Final Rating IR SME 3B

Marks Table

Factor Weighted marks 1.Management Risk 14.7 2.Industry Risk 14.4 3.Operational Risk 9.3 4.Financial Risk 34.1 Total (Out of 100) 72.4

Score after factoring in credit enhancement due to implementation of green measures

77.4






Green Rating Score

51.17


39

Entity Name Aries Organics Pvt. Limited Industry categorization Red Final Rating IR SME 2B

Marks Table

Factor

Weighted








Green Rating Score

53.33


40

Entity Name Belmarks Private Limited Industry

categorization Green Final Rating IR SME 3A

Marks Table



73.5






Green Rating Score

81.06

Green rating based on score A

41

Entity Name Alcon Products Private Limited Industry

categorization Green Final Rating IR SME 5C

Marks Table



56.4






Green Rating Score

54.81


42

Entity Name Elkay Telelinks Limited Industry

categorization Green Final Rating IR SME 3B

Marks Table



69.1






Green Rating Score

66.93


43

Entity Name Samruddhi Industries Limited Industry

categorization Orange Final Rating IR SME 2A

Marks Table



88.0






Green Rating Score

89.19


44

Entity Name Maschio Gaspardo India Pvt Ltd

Industry categorization Orange

Final Rating IR SME 3B

Marks Table

Factor Weighted marks

1.Management Risk 17.3

2.Industry Risk 20.2

3.Operational Risk 13.2

4.Financial Risk 0.0

Total (Out of 100) 50.7

Score after factoring in credit enhancement due to

implementation of green measures 55.7


Final Project Risk Score 100.0

Score considering project risk 55.7 Score considering Notch-up/Notch down Parameters 72.5

SME after project risk Rating 3

Other Notch-down Parameters

Impact of events occurring after balance sheet

date 0 No. of notches Any other (Mention) 0 No. of notches


Green Rating Score

73.89


45

Entity Name Universal Tube Accessories Private Limited Industry

categorization Orange Final Rating IR SME 1B

Marks Table



68.3






Green Rating Score

70.30


46

Entity Name Anant Enterprise Industry

categorization Orange Final Rating IR SME 2B

Marks Table



85.0






Green Rating Score

50.59


47

Entity Name Koncentric Forge Private Limited Industry

categorization Red Final Rating IR SME 4C

Marks Table



62.4






Green Rating Score

41.64


48

Entity Name Weartech Alloys Private Limited Industry categorization Green Final Rating IR SME 2B

Marks Table



70.0






Green Rating Score

68.13


49

Entity Name Ajay Engineering Works Industry categorization Green Final Rating IR SME 3C

Marks Table



68.9






Green Rating Score

62.72


50

Entity Name P. P. Rolling Mills Manufacturing Co. Pvt. Ltd. Industry categorization Green Final Rating IR SME 3B

Marks Table



74.3






Green Rating Score

74.69


51

Entity Name Cenlub Industries Limited Industry categorization Green Final Rating IR SME 2B

Marks Table



84.8






Green Rating Score

74.69


52

Entity Name Gemco Control Limited Industry categorization Green Final Rating IR SME 1A

Marks Table



88.6






Green Rating Score

88.29


53

Entity Name Samruddhi Value Marketing Limited Industry categorization Orange Final Rating IR SME 2A

Marks Table



86.7






Green Rating Score

83.26


54

Entity Name Trinity Touch Pvt Ltd Industry categorization Green Final Rating IR SME 2A

Marks Table



84.3






Green Rating Score

79.22


55

Entity Name M/s Dayaram Healthcare Industry categorization Green Final Rating IR SME 3A

Marks Table








Green Rating Score

86.21


56

Entity Name Kunal Conchem Private Limited Industry categorization Green Final Rating IR SME 2A

Marks Table



84.5






Green Rating Score

84.32


57

Entity Name Meridian Chem Bond Private Limited Industry categorization Red Final Rating IR SME 1A

Marks Table



90.7






Green Rating Score

83.64


58

Entity Name Danopharm Chemicals Private Limited Industry categorization Red Final Rating IR SME 3A

Marks Table



70.9






Green Rating Score

86.96


59

Entity Name Alok Fabrications Industry categorization Green Final Rating IR SME 2B

Marks Table








Green Rating Score

72.45


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