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MIRA INFORM REPORT
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Report No. : |
503320 |
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Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
M.S. BEAUTYLINE CO., LTD. |
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Registered Office : |
514/15-17 Soi Ramkhamhaeng 39 [Thepleela 1], Wangthonglang, Bangkok 10310 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
06.03.2003 |
|
|
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Com. Reg. No.: |
0105546028997 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The subject is
engaged in distributing and
exporting various kinds
of cosmetics and
beauty products such
as facial scrub
& facial cream,
salt spa &
shower gel, face
wash & toner, body lotion,
milk cream & lotion, mask,
soap, color lips,
eyeliner, eyebrow pencil
and etc., under
its own “YC”
brand. |
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|
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|
No. of Employees : |
40 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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
M.S. BEAUTYLINE
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 514/15-17 SOI
RAMKHAMHAENG 39
[THEPLEELA 1], WANGTHONGLANG, BANGKOK 10310, THAILAND
TELEPHONE : [66] 2158-2531-9
FAX : [66] 2158-2615-8
E-MAIL ADDRESS : info@ms-beauty.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2003
REGISTRATION NO. : 0105546028997
TAX ID NO. : 3030831552
CAPITAL REGISTERED : BHT.
5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
WATCHARAKRIT CHOTBUNWONG, THAI
MANAGING DIRECTOR
NO. OF STAFF : 40
LINES OF BUSINESS : COSMETICS AND
BEAUTY PRODUCTS
DISTRIBUTOR AND
EXPORTER
|
CORPORATE PROFILE |
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on March
6, 2003 as
a private limited
company under the
registered name M.S. BEAUTYLINE
CO., LTD., by Thai
group, with the
business objective to
distribute various kinds
of cosmetics and
beauty products to
both domestic and
international markets. It
currently employs approximately
40 staff.
The subject is
an affiliated company
of M.S. First
Enterprise Co., Ltd.
The subject’s registered
address is 514/15-17
Soi Ramkhamhaeng 39
[Thepleela 1],
Wangthonglang, Bangkok 10310,
and this is
the subject’s current
operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Watcharakrit Chotbunwong |
|
Thai |
42 |
|
Mrs. Doungruthai Chotbunwong |
|
Thai |
46 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Watcharakrit Chotbunwong is
the Managing Director.
He is Thai
nationality with the
age of 42
years old.
Mrs. Doungruthai Chotbunwong is
the Deputy Managing
Director / Sales &
Marketing Manager.
She is Thai
nationality with the
age of 46
years old.
BUSINESS OPERATIONS
The subject is
engaged in distributing
and exporting various
kinds of cosmetics
and beauty products
such as facial
scrub & facial
cream, salt spa
& shower gel,
face wash & toner, body
lotion, milk cream & lotion, mask,
soap, color lips,
eyeliner, eyebrow pencil
and etc., under
its own “YC”
brand.
The subject hires companies
within the group
for the production
of the cosmetics
and beauty products
under “YC” brand.
PURCHASE
100% of the
production is supported
by the companies within
the group.
MAJOR SUPPLIERS
T.O.P. Cosmetic &
Manufacture Co., Ltd.
Bangkok Soap Co.,
Ltd.
M.S. First Enterprise Co.,
Ltd.
SALES
70% of the
products is exported
to over 30
countries such as
South Africa, U.S.A., Myanmar,
India, Indonesia, Vietnam,
Laos, Cambodia, Hong
Kong, Bangladesh, Japan,
Pakistan, Taiwan, Malaysia,
and the countries
in Middle East,
the remaining 30%
is sold locally
by wholesale to
dealers nationwide, as
well as by
retail sale via
online trading under
www.facebook.com/ycbeautycare and
line ID : ycthailand.
PARENT COMPANY
M.S. Union Enterprise
Co., Ltd.
Business Type :
Importer and distributor
of cosmetic packaging
ASSOCIATED COMPANIES
T.O.P. Cosmetic &
Manufacture Co., Ltd.
Business Type :
Manufacturer of cosmetics
and beauty products
Bangkok Soap Co.,
Ltd.
Business Type :
Manufacturer of soap
products
M.S. First Enterprise
Co., Ltd.
Business Type :
Provider of logistics
service
Veerana Press Co.,
Ltd.
Business Type :
Printing and packaging
service
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 to the
past two years.
CREDIT
Sales are by
cash or on
the credits term
of 30 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Company Limited
The Siam Commercial
Bank Public Company
Limited
Kasikornbank Public Company
Limited
EMPLOYMENT
The subject currently
employs approximately 40
staff.
LOCATION DETAILS
The premise is
owned for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Branches :
7 Nimitmai Road,
Minburi, Bangkok 10510
32/4 Moo 13, T.
Buengthonglang, A. Lamlukka, Pathumthani
12150
COMMENT
Despite a decrease
in both sales
or service income
and net profit
in 2016, the
subject operates a moderate
business and remains
profitable.
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. 3,000,000
on June 27,
2005
Bht. 5,000,000
on August 23,
2006
The latest registered
capital was increased
to Bht. 5,000,000
divided into 50,000
shares
of Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 30,
2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
M.S. First Enterprise
Co., Ltd. Nationality: Thai Address : 514/15-17
Soi Ramkhamhaeng 39 [Thepleela
1], Wangthonglang, Bangkok
|
30,000 |
60.00 |
|
Mr. Watcharakrit Chotbunwong Nationality: Thai Address : 368
Soi Ladprao 64,
Yaek 3, Wangthonglang, Bangkok
|
10,000 |
20.00 |
|
Mrs. Doungruthai Chotbunwong Nationality: Thai Address : 2328/1788
Ramkhamhaeng [Sukhumvit 71],
Haumark, Bangkapi, Bangkok |
10,000 |
20.00 |
Total Shareholders : 3
Share Structure [as
at April 30,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
50,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
50,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Pranee Laksanasittiphan No.
6572
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 |
1,940,358.09 |
6,276,993.08 |
1,043,433.12 |
|
Trade Accounts and
Other Receivable |
90,295,330.24 |
109,859,137.83 |
109,510,909.37 |
|
Short-term Loans |
42,688,918.96 |
53,762,485.96 |
22,816,853.33 |
|
Inventories |
52,398,502.55 |
21,933,336.98 |
32,279,858.33 |
|
Other Current Assets |
38,998,669.77 |
40,799,628.49 |
49,945,459.52 |
|
Total Current Assets
|
226,321,779.61 |
232,631,582.34 |
215,596,513.67 |
|
|
|
|
|
|
Property, Plant and
Equipment |
21,016,906.92 |
6,198,400.04 |
2,733,916.23 |
|
Other Non-current Assets |
569,170.91 |
612,570.87 |
783,520.83 |
|
Total Assets |
247,907,857.44 |
239,442,553.25 |
219,113,950.73 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and Short-term Loan From Financial Institutions |
20,763,411.10 |
6,443,767.74 |
19,674,409.09 |
|
Trade Accounts and Other
Payable |
128,404,866.96 |
137,124,019.63 |
103,945,811.39 |
|
Accrued Income Tax |
1,671,830.16 |
2,466,105.84 |
3,346,391.95 |
|
Other Current Liabilities |
1,311,768.09 |
765,085.58 |
202,017.79 |
|
Total Current Liabilities |
152,151,876.31 |
146,798,978.79 |
127,168,630.22 |
|
|
|
|
|
|
Provision for Employee Benefits |
676,293.88 |
486,623.45 |
- |
|
Other Non-current Liabilities |
10,421,940.11 |
1,959,975.08 |
- |
|
Total Liabilities |
163,250,110.30 |
149,245,577.32 |
127,168,630.22 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, and
issued share capital
50,000 shares
|
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Capital Paid |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earnings : [Deficit] |
|
|
|
|
Appropriated statutory
reserve |
500,000.00 |
500,000.00 |
- |
|
Unappropriated |
79,157,747.14 |
84,696,975.93 |
86,945,320.51 |
|
Total Shareholders’ Equity |
84,657,747.14 |
90,196,975.93 |
91,945,320.51 |
|
Total Liabilities and
Shareholders’ Equity |
247,907,857.44 |
239,442,553.25 |
219,113,950.73 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
409,605,091.30 |
507,660,701.18 |
404,076,946.16 |
|
Interest Income |
3,695,404.15 |
2,850,635.72 |
925,557.99 |
|
Other Income |
7,073,648.23 |
10,380,451.43 |
13,492,156.97 |
|
Total Revenues |
420,374,143.68 |
520,891,788.33 |
418,494,661.12 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Raw Material and Material
Supplies |
314,440,923.65 |
412,248,203.37 |
336,010,750.05 |
|
Other Expenses |
97,719,072.06 |
95,561,547.85 |
65,061,225.87 |
|
Total Expenses |
412,159,995.71 |
507,809,751.22 |
401,071,975.92 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost and Income Tax |
8,214,147.97 |
13,082,037.11 |
17,422,685.20 |
|
Financial Cost |
[857,867.08] |
[619,686.12] |
[528,065.06] |
|
|
|
|
|
|
Profit /[Loss] before Income Tax |
7,356,280.89 |
12,462,350.99 |
16,894,620.14 |
|
Income Tax |
[2,895,509.68] |
[4,210,695.57] |
[5,149,101.57] |
|
Net Profit / [Loss] |
4,460,771.21 |
8,251,655.42 |
11,745,518.57 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.49 |
1.58 |
1.70 |
|
QUICK RATIO |
TIMES |
0.89 |
1.16 |
1.05 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
19.49 |
81.90 |
147.80 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.65 |
2.12 |
1.84 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
60.82 |
19.42 |
35.06 |
|
INVENTORY TURNOVER |
TIMES |
6.00 |
18.80 |
10.41 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
80.46 |
78.99 |
98.92 |
|
RECEIVABLES TURNOVER |
TIMES |
4.54 |
4.62 |
3.69 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
149.05 |
121.41 |
112.91 |
|
CASH CONVERSION CYCLE |
DAYS |
(7.77) |
(23.00) |
21.07 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
76.77 |
81.21 |
83.16 |
|
SELLING & ADMINISTRATION |
% |
- |
- |
- |
|
INTEREST |
% |
0.21 |
0.12 |
0.13 |
|
GROSS PROFIT MARGIN |
% |
25.86 |
21.40 |
20.41 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.01 |
2.58 |
4.31 |
|
NET PROFIT MARGIN |
% |
1.09 |
1.63 |
2.91 |
|
RETURN ON EQUITY |
% |
5.27 |
9.15 |
12.77 |
|
RETURN ON ASSET |
% |
1.80 |
3.45 |
5.36 |
|
EARNING PER SHARE |
BAHT |
89.22 |
165.03 |
234.91 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.66 |
0.62 |
0.58 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.93 |
1.65 |
1.38 |
|
TIME INTEREST EARNED |
TIMES |
9.58 |
21.11 |
32.99 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(19.32) |
25.63 |
|
|
OPERATING PROFIT |
% |
(37.21) |
(24.91) |
|
|
NET PROFIT |
% |
(45.94) |
(29.75) |
|
|
FIXED ASSETS |
% |
239.07 |
126.72 |
|
|
TOTAL ASSETS |
% |
3.54 |
9.28 |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is -19.32%. Turnover has decreased from THB
507,660,701.18 in 2015 to THB 409,605,091.30 in 2016. While net profit has
decreased from THB 8,251,655.42 in 2015 to THB 4,460,771.21 in 2016. And total
assets has increased from THB 239,442,553.25 in 2015 to THB 247,907,857.44 in
2016.
PROFITABILITY :
RISKY
PROFITABILITY RATIO
|
Gross Profit Margin |
25.86 |
Deteriorated |
Industrial Average |
143.28 |
|
Net Profit Margin |
1.09 |
Deteriorated |
Industrial Average |
4.47 |
|
Return on Assets |
1.80 |
Deteriorated |
Industrial Average |
7.69 |
|
Return on Equity |
5.27 |
Acceptable |
Industrial Average |
20.33 |
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 25.86%. When
compared with the industry average, the ratio of the company was lower. This
indicated that company may have problems with control over its costs.
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 1.09%.
When compared with the industry average, the ratio of the company was lower.
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. When compared with the
industry average, it was lower, the company's figure is 1.8%.
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. When compared with the
industry average, it was lower, the company's figure is 5.27%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.49 |
Satisfactory |
Industrial Average |
1.89 |
|
Quick Ratio |
0.89 |
|
|
|
|
Cash Conversion Cycle |
(7.77) |
|
|
|
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 1.49 times in 2016, decrease from 1.58 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 lower.
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 0.89 times in 2016, decrease
from 1.16 times, by excluding inventory, the company may have problems meeting
current liabilities.
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 -8 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.66 |
Acceptable |
Industrial Average |
0.53 |
|
Debt to Equity Ratio |
1.93 |
Risky |
Industrial Average |
1.14 |
|
Times Interest Earned |
9.58 |
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 higher the percentage means that the company is using less
equity and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 9.58 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 0.66 greater than 0.5, most of the
company's assets are financed through debt.
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 |
19.49 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.65 |
Satisfactory |
Industrial Average |
1.72 |
|
Inventory Conversion Period |
60.82 |
|
|
|
|
Inventory Turnover |
6.00 |
Impressive |
Industrial Average |
3.68 |
|
Receivables Conversion Period |
80.46 |
|
|
|
|
Receivables Turnover |
4.54 |
Impressive |
Industrial Average |
3.10 |
|
Payables Conversion Period |
149.05 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.54 and 4.62 in
2016 and 2015 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 2016
decreased from 2015. This would suggest the company had deteriorated 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 increased from 19 days at the
end of 2015 to 61 days at the end of 2016. This represents a negative trend.
And Inventory turnover has decreased from 18.8 times in year 2015 to 6 times in
year 2016.
The company's Total Asset Turnover is calculated as 1.65 times and 2.12
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 65.35 |
|
|
1 |
INR 92.70 |
|
Euro |
1 |
INR 80.80 |
|
Thai Baht |
1 |
INR 2.09 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
TPT |
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.