Rubix Data Sciences Pvt. Ltd today released its Quarterly Risk Transition Report from Q2 FY 2021 (July- September 2020) to Q3 FY 2021 (October – December 2020) for Indian businesses.  This report highlights the fact that the business risk environment has stabilized considerably in Q3 2021 as the Government gradually relaxed Covid-related restrictions.

Each quarter, Rubix compares the performance of Indian business entities versus the prior quarter from a Statutory Compliance (GST, Provident Fund) and external Credit Rating perspective. The objective is to see if the business entities show any deterioration in their risk levels from one quarter to the next. Any deterioration could imply Cash Flow problems and higher levels of default. 

The Rubix Quarterly Risk Transition Report from Q2 FY 2021 (July – September 2020) to Q3 FY 2021 (October – December 2020) reveals the following: 

  • GST Compliance:  Of the 9,698 business entities monitored by Rubix for GST Compliance, only 8% saw a deterioration in their Rubix GST Compliance Score in Q3 FY 2021 (October – December 2020) compared with 19% in the prior quarter.  The % of business entities witnessing a deterioration in their Rubix GST Compliance Score in Q3 FY 2021 is the lowest in the past four quarters, a very positive development. The enhanced level of GST compliance across the business entities is reflective of the sharp recovery in the Indian economy in Q3 FY 2021.
  •  Provident Fund (PF) Compliance: Of the 4,678 business entities monitored by Rubix for PF Compliance, only 13% witnessed a deterioration in the Rubix PF Compliance Score in Q3 FY 2021 (October – December 2020) compared with 27% in the prior quarter. The % of companies witnessing a deterioration in their Rubix PF Compliance Score in Q3 FY 2021 is the lowest in the past four quarters, which clearly indicates the continued improvement in the risk environment.
  • External Credit Ratings:  Of the 3,109 business entities whose external credit ratings were monitored by Rubix,  only 2% saw their credit rating deteriorate in Q3 FY 2021 (October – December 2020) compared with 10%in the prior quarter.  Once again, this is a reflection of the improved risk environment in Q3 FY 2021.
  • Extent of Risk Deterioration in Monitored Business Entities:  Of the 9,698 business entities monitored by Rubix, only 14% saw a deterioration in any one of the three Risk Variables in Q3 FY 2021.  This reflects a significant  improvement as compared with    Q2 FY 2021 in which 32% of the business entities saw a deterioration in any one risk variable. Only 1% of the business entities saw a deterioration in two Risk Variables in Q3 FY 2021, compared with 8% in the prior quarter. These are clear signs that the risk environment in India has stabilized significantly.

The speed of the Covid vaccine roll-out in India in Q4 FY 2021 (January – March 2021) will impact the risk environment in India during this quarter and in early FY 2022.

The Rubix Quarterly Risk Transition Report provides Indian businesses  with important early warning signals about counterparty risk.  Rubix strongly urges business entities to closely monitor the risk of their counterparties in the ensuing quarters.

To download the Rubix Quarterly Risk Transition Report click on this link:  Rubix Quarterly Risk Transition Report Q3 FY 2021 (Oct – Dec 2020)

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For more information, please reach out to:
Kaushal Sampat
Founder
Rubix Data Sciences Pvt. Ltd.
Email: kaushal.sampat@rubixds.com
Mobile: +91 98201 89573
Website: www.rubixdatasciences.com

About Rubix Data Sciences Pvt. Ltd:

Rubix Data Sciences Pvt. Ltd. helps you to take prudent credit risks, build a robust supply chain and monitor compliance for your business partners in India and around the world.    Set up by highly experienced Risk Professionals who have worked extensively in the credit, legal and supply chain information domains, Rubix has been recognized as part of the ‘Start-up India’ scheme by the Department of Industrial Policy & Promotion (DIPP), Government of India, in 2018.  The Rubix platform and its suite of reports, products and services are based on its extensive database of structured and unstructured data aggregated from over 120 sources, customized predictive analytics and proprietary technology. Through its solutions, Rubix provides deep insights to Credit, Risk, Supply Chain and Compliance professionals, facilitating quicker and more effective decision-making.

Rubix Data Sciences Pvt. Ltd.   D – 424, Neelkanth Business Park, Vidyavihar (West), Mumbai 400 086, India
info@rubix.comwww.rubixdatasciences.com – +91 91379 84579 – CIN No: U74999MH2017PTC301282