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MIRA INFORM REPORT
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Report No. : |
501549 |
|
Report Date : |
02.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
K M L TECHNOLOGY CO., LTD. |
|
|
|
|
Registered Office : |
100/3 Thesabansongkrow Road, Ladyao,
Jatujak, Bangkok 10900 |
|
|
|
|
Country : |
Thailand |
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|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
07.05.1999 |
|
|
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Com. Reg. No.: |
0125542002632 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Exporter of Grounding and Lightning Protection System Solutions |
|
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|
No. of Employees : |
300 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Thailand |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
THAILAND - ECONOMIC OVERVIEW
With a relatively well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, Thailand is highly dependent on international trade, with exports accounting for about two-thirds of GDP. Thailand’s exports include electronics, agricultural commodities, automobiles and parts, and processed foods. The industry and service sectors produce about 90% of GDP. The agricultural sector, comprised mostly of small-scale farms, contributes only 10% of GDP but employs about one-third of the labor force. Thailand has attracted an estimated 3.0-4.5 million migrant workers, mostly from neighboring countries.
Over the last few decades, Thailand has reduced poverty substantially. In 2013, the Thai Government implemented a nationwide 300 baht (roughly $10) per day minimum wage policy and deployed new tax reforms designed to lower rates on middle-income earners.
Thailand’s economy is recovering from slow growth during the years since the 2014 coup. Thailand’s economic fundamentals are sound, with low inflation, low unemployment, and reasonable public and external debt levels. Tourism and government spending - mostly on infrastructure and short-term stimulus measures – have helped to boost the economy, and The Bank of Thailand has been supportive, with several interest rate reductions.
Over the longer-term, household debt levels, political uncertainty, and an aging population pose risks to growth.
|
Source
: CIA |
COMPANY NAME
K M L TECHNOLOGY
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 100/3
THESABANSONGKROW ROAD, LADYAO,
JATUJAK, BANGKOK
10900, THAILAND
TELEPHONE : [66] 2954-3455
FAX :
[66] 2591-7891
E-MAIL
ADDRESS : info@kumwell.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1999
REGISTRATION
NO. : 0125542002632
TAX
ID NO. : 3191112569
CAPITAL REGISTERED : BHT. 30,000,000
CAPITAL PAID-UP : BHT.
30,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. BOONSAK KIATJAROONLERT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 300
LINES
OF BUSINESS : GROUNDING AND LIGHTNING
PROTECTION
SYSTEM
SOLUTIONS
MANUFACTURER,
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 May 7,
1999 as a private
limited company under
the registered name K
M L TECHNOLOGY CO.,
LTD., by Thai group, with
the business objective to manufacture and distribute
grounding and lightning system solutions. It
currently employs approximately
300 staff.
The
subject’s registered address
is 100/3 Thesabansongkrow Road,
Ladyao, Jatujak, Bangkok 10900,
and this is the subject’s
current operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Boonsak Kiatjaroonlert |
|
Thai |
59 |
|
Mrs. Chaveewan Kiatjaroonlert |
|
Thai |
58 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Boonsak Kiatjaroonlert is
the Managing Director.
He is Thai
nationality with the
age of 59
years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, distributing
and exporting wide
range of grounding
and lightning protection
system and equipment
including exothermic welding
products, grounding components,
lightning protection components,
surge protection devices,
lightning detection &
warning system, meter
and tester equipment,
electric arcs protection
system, copper lug & C-clamp connectors,
under its own
brand “KUMWELL”.
The products are used in various
infrastructures such as
electricity sector, generation
plant, transmission line,
substation and distribution
line, modern mass
public transportation–metro lines,
sky train, subway,
and data centers,
telecommunication, high speed
train, petrochemical, oil
& gas industries,
food & chemical industries,
real estate and housing sectors.
PURCHASE
Raw materials are
purchased from suppliers
both domestic and
overseas in Japan,
Republic of China,
Germany and Taiwan.
MAJOR SUPPLIER
Posco-Thainox Public
Company Limited :
Thailand
SALES/SERVICES
The products are
sold and serviced
to customers both
local and overseas
in Vietnam, Malaysia, Indonesia, Singapore, Japan, Korea,
Republic of China, U.S.A., Brunei, Cambodia,
Laos, Philippines, Myanmar,
and the countries
in Europe.
Domestic Project Reference:
-
Airport
Rail Link
-
Bank of Thailand
-
BTS Skytrain
-
Central
Department Store
-
Chulalongkorn
University
-
Mahidol University
-
Rangsit
University
-
Siam
Paragon Shopping Center
-
Suvarnabhumi
Airport
-
Thai
Beverage Public Company
Limited
-
PTT
Energy Complex
-
Electricity
Generating Authority of
Thailand
-
Metropolitan
Electricity Authority
-
TOT
Public company Limited
-
etc.
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
according 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
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Company
Limited
Kasikornbank
Public Company Limited
EMPLOYMENT
The
subject employs approximately
300 staff.
LOCATION DETAILS
The
premise is owned for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
Factory
and warehouse are
located at 26/2
Moo 10, T. Banglen, A.
Bangyai, Nonthaburi 11140.
Tel. [66] 2920-0188,
Fax. [66] 2920-0045.
COMMENT
The
subject is a
manufacturer, distributor and exporter
of grounding and
lightning protection systems
and equipment. Subject reported
a strong business
in 2016 with
an increase in
both sales or
service income and
net profit comparing
to the previous
year. With its
professional and long
experience have enabled
the subject to provide efficiency
in products and
services to fulfill
customers’ demands. Its
business is solid
and growing steadily
in line with
the demand of
the products from
both local and overseas
countries.
FINANCIAL INFORMATION
The capital
was registered at
Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100 each with
fully paid.
The capital
was increased later
as follows:
Bht. 5,000,000
on March 7,
2001
Bht. 10,000,000
on April 11,
2011
Bht. 20,000,000
on November 19,
2012
Bht. 30,000,000
on July 4,
2013
The
latest registered capital
was increased to
Bht. 30,000,000 divided into
300,000 shares of
Bht. 100 each with
fully paid.
THE SHAREHOLDERS LISTED WERE
[As at
April 30, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Boonsak Kiatjaroonlert Nationality: Thai Address : 100/3
Thesabansongkrow Road, Ladyao,
Jatujak, Bangkok |
210,012 |
70.00 |
|
Mrs. Chaveewan Kiatjaroonlert Nationality: Thai Address : 100/5
Thesabansongkrow Road, Ladyao,
Jatujak, Bangkok |
59,988 |
20.00 |
|
Mr. Chokeanan Pichiannawakul Nationality: Thai Address : 5/163
Thesabansongkrow Road, Ladyao, Jatujak, Bangkok
|
30,000 |
10.00 |
Total Shareholders : 3
Share Structure
[As at April
30, 2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
300,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
300,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mrs. Vilairat Rojnakarin No.
3104
BALANCE SHEET [BAHT]
The
latest financial figures
published for December 31, 2016,
2015 and 2014 were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash Equivalents |
11,996,253 |
5,348,101 |
9,107,026 |
|
Trade Accounts and
Other Receivable |
86,813,138 |
88,161,516 |
60,330,739 |
|
Inventories |
119,326,042 |
100,115,364 |
87,438,682 |
|
Other Current Assets
|
- |
- |
155,019 |
|
|
|
|
|
|
Total Current
Assets |
218,135,433 |
193,624,981 |
157,031,466 |
|
Property, Plant and Equipment |
74,316,452 |
52,639,684 |
36,684,770 |
|
Intangible Assets |
2,905,612 |
3,351,733 |
1,248,548 |
|
Deferred Income Tax
Assets |
- |
- |
3,546,431 |
|
Other Non-current Assets |
4,780,362 |
4,266,722 |
748,745 |
|
Total Assets
|
300,137,859 |
253,883,120 |
199,259,960 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and
Loan from Financial Institution |
25,182,865 |
37,056,660 |
32,055,301 |
|
Trade Accounts and Other Payable |
28,105,585 |
39,277,424 |
21,701,077 |
|
Short-term Loan |
- |
11,718,023 |
16,718,023 |
|
Current Portion of
Long-term Loan from Financial
Institution |
- |
- |
255,216 |
|
Current Portion of
Finance Lease Contract Liabilities |
- |
- |
558,913 |
|
Accrued Income Tax |
14,537,078 |
9,280,031 |
16,628,530 |
|
Other Current Liabilities |
244,001 |
440,617 |
364,001 |
|
|
|
|
|
|
Total Current Liabilities
|
68,069,529 |
97,772,755 |
88,281,061 |
|
|
|
|
|
|
Finance Lease Contract
Liabilities |
- |
- |
545,624 |
|
Employee Benefit Obligation |
6,309,799 |
5,744,506 |
4,915,908 |
|
Other Non-current Liabilities |
278,797 |
514,611 |
- |
|
Total Liabilities |
74,658,125 |
104,031,872 |
93,742,593 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized and
issued share capital 300,000
shares |
30,000,000 |
30,000,000 |
30,000,000 |
|
|
|
|
|
|
Capital Paid |
30,000,000 |
30,000,000 |
30,000,000 |
|
Retained Earnings [Deficit] Appropriated - Statutory Reserve |
3,000,000 |
3,000,000 |
1,744,709 |
|
Unappropriated |
192,479,734 |
116,851,248 |
74,283,502 |
|
Other Components of Shareholders’ Equity |
- |
- |
[510,844] |
|
Total Shareholders' Equity |
225,479,734 |
149,851,248 |
105,517,367 |
|
Total Liabilities
and Shareholders' Equity |
300,137,859 |
253,883,120 |
199,259,960 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services |
399,360,027 |
321,305,957 |
257,330,611 |
|
Gain on Exchange Rate |
10,252,316 |
14,014,337 |
6,662,319 |
|
Total Revenues
|
409,612,343 |
335,320,294 |
263,992,930 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
222,620,443 |
204,952,796 |
161,163,619 |
|
Selling Expenses |
29,548,413 |
20,379,041 |
5,590,279 |
|
Administrative Expenses |
57,859,020 |
47,189,361 |
38,674,131 |
|
Total Expenses |
310,027,876 |
272,521,198 |
205,428,029 |
|
|
|
|
|
|
Profit /[Loss] before Financial Cost & Income Tax |
99,584,467 |
62,799,096 |
58,564,901 |
|
Financial Cost |
[2,606,640] |
[4,069,702] |
[4,035,502] |
|
|
|
|
|
|
Profit /[Loss] before Income Tax |
96,977,827 |
58,729,394 |
54,529,399 |
|
Income Tax |
[19,998,664] |
[12,895,513] |
[10,582,194] |
|
|
|
|
|
|
Net Profit/[Loss] for
the year |
76,979,163 |
45,833,881 |
43,947,205 |
|
Other Comprehensive Income [Expenses] Loss from
Estimation of Mathematical Method
of Insurance |
- |
- |
[620,944] |
|
Income Tax
related to Components
of Other
Comprehensive Income |
- |
- |
124,189 |
|
Total Comprehensive Income [Expenses] for the
year |
76,979,163 |
45,833,881 |
43,450,450 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.20 |
1.98 |
1.78 |
|
QUICK RATIO |
TIMES |
1.45 |
0.96 |
0.79 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.37 |
6.10 |
7.01 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.33 |
1.27 |
1.29 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
195.64 |
178.30 |
198.03 |
|
INVENTORY TURNOVER |
TIMES |
1.87 |
2.05 |
1.84 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
79.34 |
100.15 |
85.57 |
|
RECEIVABLES TURNOVER |
TIMES |
4.60 |
3.64 |
4.27 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
46.08 |
69.95 |
49.15 |
|
CASH CONVERSION CYCLE |
DAYS |
228.91 |
208.50 |
234.45 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
55.74 |
63.79 |
62.63 |
|
SELLING & ADMINISTRATION |
% |
21.89 |
21.03 |
17.20 |
|
INTEREST |
% |
0.65 |
1.27 |
1.57 |
|
GROSS PROFIT MARGIN |
% |
46.82 |
40.57 |
39.96 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
24.94 |
19.54 |
22.76 |
|
NET PROFIT MARGIN |
% |
19.28 |
14.26 |
17.08 |
|
RETURN ON EQUITY |
% |
34.14 |
30.59 |
41.65 |
|
RETURN ON ASSET |
% |
25.65 |
18.05 |
22.06 |
|
EARNING PER SHARE |
BAHT |
256.60 |
152.78 |
146.49 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.25 |
0.41 |
0.47 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.33 |
0.69 |
0.89 |
|
TIME INTEREST EARNED |
TIMES |
38.20 |
15.43 |
14.51 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
24.29 |
24.86 |
|
|
OPERATING PROFIT |
% |
58.58 |
7.23 |
|
|
NET PROFIT |
% |
67.95 |
4.29 |
|
|
FIXED ASSETS |
% |
41.18 |
43.49 |
|
|
TOTAL ASSETS |
% |
18.22 |
27.41 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 24.29%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
46.82 |
Impressive |
Industrial
Average |
31.29 |
|
Net Profit Margin |
19.28 |
Impressive |
Industrial
Average |
3.14 |
|
Return on Assets |
25.65 |
Impressive |
Industrial Average |
3.61 |
|
Return on Equity |
34.14 |
Impressive |
Industrial
Average |
8.12 |
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. Gross Profit Margin is 46.82%. 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. Net Profit Margin ratio is 19.28%,
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
25.65%, 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 34.14%, 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 : ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
3.20 |
Impressive |
Industrial
Average |
1.50 |
|
Quick Ratio |
1.45 |
|
|
|
|
Cash Conversion Cycle |
228.91 |
|
|
|
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 3.2 times in 2016, increase from 1.98 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 1.45 times in 2016,
increase from 0.96 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 229 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.25 |
Impressive |
Industrial
Average |
0.54 |
|
Debt to Equity Ratio |
0.33 |
Impressive |
Industrial
Average |
1.19 |
|
Times Interest Earned |
38.20 |
Impressive |
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.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 38.21 higher than 1, so the company can pay interest
expenses on outstanding debt.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.25 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 Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
5.37 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.33 |
Impressive |
Industrial
Average |
1.15 |
|
Inventory Conversion Period |
195.64 |
|
|
|
|
Inventory Turnover |
1.87 |
Acceptable |
Industrial
Average |
4.62 |
|
Receivables Conversion Period |
79.34 |
|
|
|
|
Receivables Turnover |
4.60 |
Impressive |
Industrial
Average |
3.60 |
|
Payables Conversion Period |
46.08 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.60 and
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 increased from 178 days at the
end of 2015 to 196 days at the end of 2016. This represents a negative trend.
And Inventory turnover has decreased from 2.05 times in year 2015 to 1.87 times
in year 2016.
The company's Total Asset Turnover is calculated as 1.33 times and 1.27
times in 2016 and 2015 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 Stable
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
|
Thai Baht |
1 |
INR 2.09 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.