This tool is very basic, rudimentary and qualitative tool only. Giving only 'Pass' or 'Fail' to each parameter is not going to give a crisper and clearer picture. How parameters like 'Company started by promoters' and 'dent on promoters' (just to take an example) would be defined and a pass/fail criteria would be applied. Better would be to list a set of criteria into three parts : 1. Quality of earning (profitability analysis); 2. Quality of Balance Sheet (leveraging, use of assets, etc.) and 3. Type of industry.
These three broad parameters with some sub parameters would give you a very detailed analysis for a stock.
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