Brickwork Ratings

Grading of Renewable Energy Service Providing Companies (RESCOs) and System Integrators (SIs)

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Brickwork Ratings

Committed to promote financial literacy & help

investors to make informed investment decisions

Brickwork Ratings has received the permanent registration from SEBI as per the SEBI circular No. SEBI/MIRSD/DR-2/SRP/Cir-2/2005 dated January 4, 2005

The RBI has accorded Brickwork Ratings, theECAI (External Credit Assessment Institution) status under Basel norms approving BWR as an eligible CRA for bank loans/facilities.

PROMOTER / INVESTOR

Strategic Partnershipwith a Hundred Year Old Bank

APPROVED BY

with

20 BANKS

MOUWholly Owned by Reserve Bank of India

Brickwork Ratings, a credit rating agency

founded by bankers, former regulators, and credit

rating professionals, is a SEBI registered credit

rating agency with its corporate office in

Bengaluru. It is also empanelled by NSIC and

accredited by RBI for carrying out SME and bank

loan ratings respectively. It has a country-wide

presence through its branches at Ahmedabad,

Chandigarh, Chennai, Guwahati, Hyderabad,

Kolkata, Mumbai and New Delhi along with

representatives in 150+ locations.

Brickwork is the first CRA to open office in

Guwahati to serve the North eastern region.

Brickwork Ratings has already rated a number of

bank loans and bonds. The company has rated

many listed entities, thousands of bank loans and

MSME. Bank loan ratings cover all bank fund

based and non fund based facilities like Cash

Credit, Packing credit, term loans, letter of credit,

bank guarantees etc.

MNRE has envisaged and alternative route wherein

channel partners can directly submit their project

proposal to MNRE rather than submitting proposals

through State Nodal Agencies. JNNSM shall provide

capital and interest rate subsidies to such channel

partners with an objective to make the solar off-grid

projects commercially viable and workable on a

sustainable basis.

In order to ensure that the channel partners that are

selected under this Mission are deserving of the

support provided by MNRE, the channel partner

needs to get itself accredited by a rating agency

recognised by MNRE for this purpose.

Brickwork Ratings is recognised by MNRE to assign

grades to such channel partners - Renewable

Energy Service Providing Companies (RESCOs) and

System Integrators (SIs).

Benefits Independent Opinion:

Benchmarking:

Brand Image:

Financial support:

This grading provides an unbiased

independent opinion on the performance capability and

financial strength of the RESCOs and SIs.

Accreditation would categorize various

entities into grades, identifying those channel partners

having the capacity and capability to undertake these

projects. Grading a highly powerful tool, lends itself to

credible benchmarking exercise; thus, effectively

promoting best-practices in this sector.

Grading enables the channel partners to

showcase their capabilities in executing projects to

various stakeholders like lenders, suppliers and

community groups.

Grading enables channel partners to

receive capital and interest rate subsidies, thus, facilitating

solar off – grid projects to become commercially viable and

workable on a sustainable basis.

Brickwork RatingsMNRE approved Credit Rating Agency for Grading of RESCOs and SIs

The Jawaharlal Nehru National Solar Mission

(JNNSM) launched by the Ministry of New and

Renewable Energy (MNRE) on climate change

aims to promote ecologically sustainable

growth, while addressing India’s energy

security challenge.

Renewable Energy Service Providing Companies (RESCOs) are companies that install, own & operate and provide energy services to customers.

Parameters considered for grading of RESCOs

Technical

Capability

Financial Strength

•

•

•

•

Promoter Track Record

Project Management Capability

Customer concentration, quality and ability to manage receivables

Customer and O&M Network

•

•

•

•

Networth

Bankers’ feedback

Financial Flexibility

Project Related Assessment

Grading MandateInformation Collection

and Review

Management

Dicussions

Presentation to the

Grading Committee

Submission of

Grading ReportPublication of Grading

The process for assigning a grade to the channel partner (RESCO or SI) is shown by the flow chart below:

Grading Process

Grading Mandate:

Information Collection and Review:

Management Discussions:

Presentation to the Grading Committee:

The Mandate to undertake the grading of the channel partner is signed between Brickwork Ratings and the company.

Brickwork Ratings will provide the company with the information requirement for grading.

Post review of the information provided, the analyst team will hold discussions with the management.

Based on the information provided and the discussions held, the analyst team presents

the case to the Grading Committee at Brickwork Ratings.

Post the recommendation of the committee, the analyst team submits the grading report to the company for review.

Post the grading exercise, the grading assigned is then published via a press release as well as in the website of Brickwork Ratings.

Submission of Grading Report:

Publication of the Grading:

The grading is done based on two main parameters - Technical Capability and Financial Strength. The grading matrix is a 5x5 matrix as shown below:

Grading Scales

The channel partners are graded and classified

into five categories. 1 to 5 depicts the technical

strength with 1 being the highest. A to E depicts

the financial strength with A being the highest.

The combined grade assigned reflects the

overall capability and capacity of the channel

partner.

System Integrators (SIs) are companies that provide renewable energy systems and services such as design, supply, installation etc. (including operation and maintenance services).

Parameters considered for grading of SIs

Technical

Capability

Financial Strength

•

•

•

•

Promoter Track Record

Technical Expertise and Adequacy of Manpower

Quality of Supplier and Tie-Ups

Customer and O&M Network

•

•

•

•

•

•

•

Sales

Return on Capital Employed

Total Outside Liabilities/Tangible Networth

Interest Coverage

Networth

Feedback of bankers on conduct of account and integrity

Current Ratio

Financial Strength

Highest High Moderate Weak Poor

TechnicalStrength

SP 1A SP 1B SP 1C SP 1D SP 1E

SP 2A SP 2B SP 2C SP 2D SP 2E

SP 3A SP 3B SP 3C SP 3D SP 3E

Highest

High

Moderate

SP 4A SP 4B SP 4C SP 4D SP 4EWeak

SP 5A SP 5B SP 5C SP 5D SP 5EPoor

Select Clients

Brickwork Ratings India Pvt. Ltd.

Chennai

2nd Floor, "B" Wing, "Swees House"

No. 5, Sir P. S. Sivasamy Salai

Mylapore,

Chennai - 600 004

TeleFax: +91 44 2433 3326

Mobile: +91 96770 31218

Ahmedabad

A-209, Siddhi Vinayak Tower

Near Jaquar Showroom, Off SG Highway

Makarba, Ahmedabad - 380 051

Phone: +91 79 6617 4046 / 47

Fax: +91 79 6617 4047

Mobile: +91 78200 15008

Guwahati

6th Floor, Dandi Tower,

(Opp. Assam Secretariat, Beside NABARD)

G.S. Road, Dispur,

Guwahati - 781 006, Assam

Ph: +91 361 234 3632/6632

Mobile: +91 98540 80999

Kolkata

81, 8th Floor, Chitrakoot Building

Opp. Minto Park, 230 A,

AJC Bose Road, Kolkata - 700 020

Phone: +91 33 3002 3130

/ 1 / 2 / 3 / 4

Mobile: +91 98301 96968

rdCorporate Office: 3 Floor, Raj Alkaa Park, Kalena Agrahara, Bannerghatta Road, Bengaluru - 560 076

Phone: +91 80 4040 9940 | Fax: +91 80 4040 9941, Mobile: +91 96118 05999

New Delhi: 204-205, 2nd Floor, Kanchenjunga Building, 18, Barakhamba Road, New Delhi – 110001

Phone: +91 11 2341 2232 | Fax: +91 11 2341 3896 | Mobile: +91 96500 12425

Mumbai: C-502, Business Square, 151, Andheri Kurla Road, Opposite: Apple Heritage Building, Chakala, Andheri (E)

Mumbai - 400 093. Phone: +91 22 2831 1426/39 | Fax: +91 22 2838 9144 | Mobile: +91 98336 91221

Hyderabad

6-3-1111, 203 & 204

2nd Floor, Babukhan Mall

Somajiguda, Hyderabad – 500 016

Phone: +91 40 2331 0131

Fax: +91 40 2331 0161

Mobile: +91 80999 30904

Chandigarh

BESTECH Business Tower,

Tower 'A', Unit No. 601, 6th Floor,

SAS Nagar, Mohali, Punjab - 160059

Phone: +91 172 503 2295/6

Mobile: +91 85270 91561

+91 94179 87385

New Delhi

Chandigarh

MumbaiHyderabad

Bengaluru

Chennai

Guwahati

KolkataAhmedabad

Brickwork Rating Locations

www.brickworkratings.com

info@brickworkratings.com | 1 860 425 2742 for Bank Loan Ratings SMS BLR to 56767