MIRA INFORM REPORT
|
Report Date : |
03.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
WENDT GRINDING TECHNOLOGIES LIMITED |
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|
|
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Registered Office : |
109/21 Moo 4, Eastern Seaboard Industrial Estate [Rayong], T. Pluakdaeng, A. Pluakedaeng, Rayong 21140 |
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|
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Country : |
Thailand |
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|
|
|
Financials (as on) : |
31.03.2012 |
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|
|
Date of Incorporation : |
19.07.2005 |
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Com. Reg. No.: |
0105548094407 |
|
|
|
|
Legal Form : |
Private Limited Company |
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|
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Line of Business : |
Importer, Distributor and Exporter of Grinding & Abrasive Products |
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No. of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
THAILAND - ECONOMIC OVERVIEW
With a well-developed infrastructure, a free-enterprise
economy, generally pro-investment policies, and strong export industries,
Thailand achieved steady growth due largely to industrial and agriculture
exports - mostly electronics, agricultural commodities, automobiles and parts,
and processed foods. Thailand is trying to maintain growth by encouraging
domestic consumption and public investment to offset weak exports in 2012.
Unemployment, at less than 1% of the labor force, stands as one of the lowest levels
in the world, which puts upward pressure on wages in some industries. Thailand
also attracts nearly 2.5 million migrant workers from neighboring countries.
The Thai government is implementing a nation-wide 300 baht ($10) per day
minimum wage policy and deploying new tax reforms designed to lower rates on
middle-income earners. The Thai economy has weathered internal and external
economic shocks in recent years. The global economic severely cut Thailand's
exports, with most sectors experiencing double-digit drops. In 2009, the
economy contracted 2.3%. However, in 2010, Thailand's economy expanded 7.8%,
its fastest pace since 1995, as exports rebounded. In late 2011 growth was
interrupted by historic flooding in the industrial areas in Bangkok and its five
surrounding provinces, crippling the manufacturing sector. Industry recovered
from the second quarter of 2012 onward with GDP growth at 5.5% in 2012. The
government has approved flood mitigation projects worth $11.7 billion, which
were started in 2012, to prevent similar economic damage, and an additional $75
billion for infrastructure over the next seven years with a plan to start in
2013.
Source
: CIA
Company name
WENDT
GRINDING TECHNOLOGIES LIMITED
SUMMARY
BUSINESS
ADDRESS : 109/21 MOO
4, EASTERN SEABOARD
INDUSTRIAL
ESTATE [RAYONG],
T. PLUAKDAENG,
A.
PLUAKEDAENG, RAYONG 21140
TELEPHONE : [66] 38
955-491-2
FAX :
[66] 38
955-493
E-MAIL
ADDRESS : praveen@wendt-thai.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2005
REGISTRATION
NO. : 0105548094407
TAX
ID NO. : 3380099909
CAPITAL REGISTERED : BHT. 103,000,000
CAPITAL PAID-UP : BHT. 25,750,000
SHAREHOLDER’S PROPORTION : INDIAN :
100%
FISCAL YEAR CLOSING DATE : MARCH
31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. PRAVEEN JADUVANSHI,
INDIAN
GENERAL MANAGER
NO.
OF STAFF : 15
LINES
OF BUSINESS : GRINDING & ABRASIVE PRODUCTS
IMPORTER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on July 19, 2005
as a private
limited company under
the registered name
WENDT GRINDING TECHNOLOGIES
LIMITED by Indian groups. The
business objective is
to import and
distribute various kinds
of grinding and
abrasive products for
various industries both
domestic and international
markets. It currently
employs 15 staff.
The
subject is a
wholly owned subsidiary
of Wendt [India]
Ltd.
The
subject’s registered address
is 109/21 Moo 4, Eastern Seaboard
Industrial Estate [Rayong],
T. Pluakedaeng, A.
Pluakedaeng, Rayong 21140,
and this is
the subject’s current operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Rajesh Mohan Khanna |
[x] |
Indian |
53 |
|
Mr. Jandhyala Hanumart Sasatri |
|
Indian |
54 |
|
Mr. Sunthorn Tangphaosak |
|
Thai |
58 |
AUTHORIZED PERSON
Only the mentioned
director [x] signs
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Praveen Jaduvanshi is
the General Manager.
He is Indian
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
importing, distributing and
re-exporting various kinds
of grinding and
abrasive products, such
as grinding tools,
grinding machines, grinding
wheels, gear grinding,
thin wheel products,
bonded abrasive products
and etc., for
glasses, automobiles and
steel industries, as
well as providing
maintenance service for
grinding machines and
grinding tools.
MAJOR BRANDS
“WENDT”, “CUMI”
PURCHASE
90% of the
products is imported
from India, Germany
and Belgium, the
remaining 10% is
purchased from local
supplier.
MAJOR
SUPPLIERS
Wendt
[India] Ltd. : India
Wendt
GmbH. : Germany
Carborundum
Universal Ltd. : India
SALES
90% of the
products is sold
locally to wholesalers,
manufacturers and end-users,
the remaining 10%
is re-exported to
Vietnam.
SUBSIDIARY AND AFFILIATED COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
for the past
two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
T/T.
Exports are against
T/T.
BANKING
Bangkok Bank
Public Co., Ltd.
EMPLOYMENT
The
subject currently employs
15 staff.
LOCATION DETAILS
The
premise is owned for
administrative office and
warehouse at the
heading address. Premise
is located in
industrial area.
COMMENT
The
subject is an importer
and distributor of
high quality grinding
and abrasive products from
India, Germany and
Belgium. Its business
is promising as
demand of industrial equipment and
tools remains promising
from related industries particularly
automobile and steel
manufacturers which require
high quality equipment
in confirmation to the
international standards.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 103,000,000
divided into 10,300,000
shares of Bht.
10 each, with
the current capital
paid-up at Bht.
25,750,000 or Bht.
2.50 per share.
THE
SHAREHOLDERS LISTED WERE
: [as at
May 11, 2012]
at Bht. 25,750,000
of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
Wendt [India] Ltd. Nationality: Indian Address : 407,
Devatha Plaza, Residency
Road,
Bangalore, India |
10,299,993 |
100.00 |
|
Mr. Murugappan Muthian Murugappan Nationality: Indian Address : India
|
1 |
- |
|
Mr. Srinivasan Krishnaswany Nationality: Indian Address : India
|
1 |
- |
|
Mr. Srinivasan Natarajan Nationality: Indian Address : India
|
1 |
- |
|
Mr. Rajesh Mohan Khanna Nationality: Indian Address : India
|
1 |
- |
|
Mr. Subbaraman Srinivasan Nationality: Indian Address : India
|
1 |
- |
|
Mr. Sunthorn Tangphaosak Nationality: Thai Address : 98/35
Moo 5, T. Bangkuvieng, A.
Bangkruay, Nonthaburi |
1 |
- |
|
Mr. Nachaibpan Mayyappan Nationality: Indian Address : India
|
1 |
- |
Total Shareholders : 8
Share Structure [as
at May 11,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
1 |
- |
|
Foreign-Indian |
7 |
10,299,999 |
100.00 |
|
Total |
8 |
10,300,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Varanont Trathong No.
6886
BALANCE SHEET [BAHT]
The latest financial figures published
as at March
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
35,382,887.92 |
31,243,744.21 |
9,691,226.67 |
|
Short-term Investment |
11,523,011.75 |
6,255,146.68 |
6,182,655.89 |
|
Trade Accounts and
Other Receivable |
4,647,272.98 |
6,514,766.86 |
6,612,418.00 |
|
Inventories |
6,258,298.10 |
5,547,329.85 |
5,621,796.70 |
|
Other Current Assets
|
9,016.40 |
9,725.36 |
207,732.72 |
|
|
|
|
|
|
Total Current Assets
|
57,820,487.15 |
49,570,712.96 |
28,315,829.98 |
|
|
|
|
|
|
Fixed Assets |
18,537,612.20 |
19,436,684.61 |
22,011,430.64 |
|
Other Non - current Assets |
100,000.00 |
100,000.00 |
100,000.00 |
|
Total Assets |
76,458,099.35 |
69,107,397.57 |
50,427,260.62 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts Payable - Related Company |
8,072,697.50 |
5,799,997.28 |
6,257,718.27 |
|
Trade Accounts and
Other Payable |
1,775,343.03 |
1,961,030.69 |
906,078.38 |
|
Accrued Dividend |
- |
5,119,934.52 |
- |
|
Accrued Expenses |
- |
- |
532,566.58 |
|
Current Portion of
Long-term Liabilities |
- |
- |
30,437.20 |
|
Accrued Income Tax |
2,014,600.54 |
3,490,875.62 |
1,890,359.10 |
|
Other Current Liabilities |
60,952.64 |
225,792.63 |
276,616.63 |
|
|
|
|
|
|
Total Current Liabilities |
11,923,593.71 |
16,597,630.74 |
9,893,776.16 |
|
Total Liabilities |
11,923,593.71 |
16,597,630.74 |
9,893,776.16 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 10,300,000 shares |
103,000,000.00 |
103,000,000.00 |
103,000,000.00 |
|
|
|
|
|
|
Capital Paid |
25,750,000.00 |
25,750,000.00 |
25,750,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
1,300,000.00 |
1,300,000.00 |
586,379.06 |
|
Unappropriated |
37,484,505.64 |
25,459,766.83 |
14,197,105.40 |
|
Total Shareholders' Equity |
64,534,505.64 |
52,509,766.83 |
40,533,484.46 |
|
Total Liabilities &
Shareholders' Equity |
76,458,099.35 |
69,107,397.57 |
50,427,260.62 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
48,283,134.17 |
42,262,942.43 |
25,704,106.35 |
|
Service Income |
17,211,864.00 |
27,044,538.90 |
19,388,112.45 |
|
Other Income |
532,131.48 |
544,986.86 |
406,578.34 |
|
Total Revenues |
66,027,129.65 |
69,852,468.19 |
45,498,797.14 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
33,146,186.39 |
28,231,948.62 |
19,040,931.34 |
|
Cost of Services |
2,435,538.33 |
2,878,338.34 |
2,536,621.82 |
|
Cost of Other |
1,980,813.89 |
2,095,889.68 |
1,364,963.91 |
|
Selling and Administrative Expenses |
11,297,588.90 |
12,215,115.87 |
10,715,488.23 |
|
Total Expenses |
48,860,127.51 |
45,421,292.51 |
33,658,005.30 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
17,167,002.14 |
24,431,175.68 |
11,840,791.84 |
|
Financial Costs |
- |
[4,297.33] |
[102,659.95] |
|
Profit before Income
Tax |
17,167,002.14 |
24,426,878.35 |
11,738,131.89 |
|
Income Tax |
[5,142,263.33] |
[7,330,661.46] |
[3,532,228.69] |
|
|
|
|
|
|
Net Profit / [Loss] |
12,024,738.81 |
17,096,216.89 |
8,205,903.20 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
4.85 |
2.99 |
2.86 |
|
QUICK RATIO |
TIMES |
4.32 |
2.65 |
2.27 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.53 |
3.57 |
2.05 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.86 |
1.00 |
0.89 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
64.20 |
65.08 |
95.10 |
|
INVENTORY TURNOVER |
TIMES |
5.69 |
5.61 |
3.84 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
25.90 |
34.31 |
53.52 |
|
RECEIVABLES TURNOVER |
TIMES |
14.09 |
10.64 |
6.82 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
18.21 |
23.01 |
15.33 |
|
CASH CONVERSION CYCLE |
DAYS |
71.89 |
76.39 |
133.29 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
54.33 |
44.89 |
47.85 |
|
SELLING & ADMINISTRATION |
% |
17.25 |
17.62 |
23.76 |
|
INTEREST |
% |
- |
0.01 |
0.23 |
|
GROSS PROFIT MARGIN |
% |
46.49 |
55.90 |
53.05 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
26.21 |
35.25 |
26.26 |
|
NET PROFIT MARGIN |
% |
18.36 |
24.67 |
18.20 |
|
RETURN ON EQUITY |
% |
18.63 |
32.56 |
20.24 |
|
RETURN ON ASSET |
% |
15.73 |
24.74 |
16.27 |
|
EARNING PER SHARE |
BAHT |
4.67 |
6.64 |
3.19 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.16 |
0.24 |
0.20 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.18 |
0.32 |
0.24 |
|
TIME INTEREST EARNED |
TIMES |
- |
5,685.20 |
115.34 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(5.50) |
53.70 |
|
|
OPERATING PROFIT |
% |
(29.73) |
106.33 |
|
|
NET PROFIT |
% |
(29.66) |
108.34 |
|
|
FIXED ASSETS |
% |
(4.63) |
(11.70) |
|
|
TOTAL ASSETS |
% |
10.64 |
37.04 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -5.5%.
Turnover has decreased from THB 69,307,481.33 in 2011 to THB 65,494,998.17 in
2012. While net profit has decreased from THB 17,096,216.89 in 2011 to THB
12,024,738.81 in 2012. And total assets has increased from THB 69,107,397.57 in
2011 to THB 76,458,099.35 in 2012.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
46.49 |
Impressive |
Industrial
Average |
32.32 |
|
Net Profit Margin |
18.36 |
Impressive |
Industrial
Average |
2.46 |
|
Return on Assets |
15.73 |
Impressive |
Industrial
Average |
3.45 |
|
Return on Equity |
18.63 |
Impressive |
Industrial
Average |
7.62 |
Gross Profit Margin used to assess a firm's financial health by revealing
the proportion of money left over from revenues after accounting for the cost
of goods sold. Gross profit margin serves as the source for paying additional
expenses and future savings. The company’s
figure is 46.49%. When compared with the industry average, the ratio of
the company was higher, indicated that company was more profitable than the
same industry.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. The company’s figure is
18.36%, higher figure when compared with those of its average
competitors in the same industry, indicated that business was an efficient
operator in a dominant position within
its industry.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. Return on Assets ratio is 15.73%, higher figure when compared
with those of its average competitors in the same industry, indicated
that business was
an efficient profit
in a dominant position within its industry.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. Return on
Equity ratio is 18.63%, higher figure when compared with those of its
average competitors in the same industry, indicated that business was an
efficient profit in a dominant position
within its industry.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
4.85 |
Impressive |
Industrial
Average |
1.99 |
|
Quick Ratio |
4.32 |
|
|
|
|
Cash Conversion Cycle |
71.89 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets
are readily available to pay off its short-term liabilities. The company's
figure is 4.85 times in 2012, increased from 2.99 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was higher, indicated that company
was an efficient operator in a dominant position within its industry.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 4.32 times in 2012,
increased from 2.65 times, although excluding inventory so the company still
have good short-term financial strength.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 72 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.16 |
Impressive |
Industrial
Average |
0.51 |
|
Debt to Equity Ratio |
0.18 |
Impressive |
Industrial
Average |
1.03 |
|
Times Interest Earned |
- |
|
Industrial
Average |
- |
Debt to Equity Ratio a measurement of how much suppliers, lenders,
creditors and obligors have committed to the company versus what the
shareholders have committed. A lower the percentage means that the company is
using less leverage and has a stronger equity position.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.16 less than 0.5, most of the company's
assets are financed through equity.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Downtrend
Times Interest Earned Downtrend
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.53 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.86 |
Acceptable |
Industrial
Average |
1.40 |
|
Inventory Conversion Period |
64.20 |
|
|
|
|
Inventory Turnover |
5.69 |
Impressive |
Industrial
Average |
2.74 |
|
Receivables Conversion Period |
25.90 |
|
|
|
|
Receivables Turnover |
14.09 |
Impressive |
Industrial
Average |
2.56 |
|
Payables Conversion Period |
18.21 |
|
|
|
The company's Account Receivable Ratio is calculated as 14.09 and 10.64 in
2012 and 2011 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate revenue. A lower ratio may indicate
over extension and collection problems. Conversely, a higher ratio may indicate
an overtly stringent policy. In this case, the company's A/R ratio in 2012
increased from 2011. This would suggest the company had good performance in the
management of its debt collections.
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has decreased from 65 days at the
end of 2011 to 64 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 5.61 times in year 2011 to 5.69 times
in year 2012.
The company's Total Asset Turnover is calculated as 0.86 times and 1
times in 2012 and 2011 respectively. This ratio is determined by dividing total
assets into total sales turnover. The ratio measures the activity of the assets
and the ability of the firm to generate sales through the use of the assets.
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.49 |
|
|
1 |
Rs.86.01 |
|
Euro |
1 |
Rs.73.68 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.