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|
|
MIRA
INFORM REPORT
|
Report No. : |
505274 |
|
Report Date : |
24.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
MESHTEC INTERNATIONAL
CO., LTD. |
|
|
|
|
Registered Office : |
168 Moo 3,
Chiangmai-Lampang Road, T.
Sarapee, A. Sarapee, Chiangmai 50140 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2017 |
|
|
|
|
Date of Incorporation : |
24.03.2003 |
|
|
|
|
Com. Reg. No.: |
0505546001149 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is
engaged in manufacturing, distributing and
exporting high tensile
stainless steel security
screens for residential
and commercial, architectural and
security screen applications. The
products are sliding
doors, hinged doors,
stainless steel woven
mesh, bi-fold doors, fixed
panel, patio and
enclosures, awning windows,
child fall protection
screen, vandal protection
screen, fencing and
balustrade system, hurricane
protection screen, casement
windows and accessories. |
|
|
|
|
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 |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
MESHTEC INTERNATIONAL
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 168
MOO 3, CHIANGMAI-LAMPANG ROAD,
T. SARAPEE, A. SARAPEE, CHIANGMAI 50140, THAILAND
TELEPHONE : [66] 53
963-284-5, 53 921-299
FAX : [66] 53
921-298
E-MAIL ADDRESS : info@meshtec.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2003
REGISTRATION NO. : 0505546001149
TAX ID NO. : 3030973801
CAPITAL REGISTERED : BHT.
253,800,000
CAPITAL PAID-UP : BHT.
253,800,000
SHAREHOLDER’S PROPORTION : AUSTRALIAN :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
DAVID NEIL EDLIN,
AUSTRALIAN
PRESIDENT AND
CHIEF EXECUTIVE OFFICER
NO. OF STAFF : 300
LINES OF BUSINESS : STAINLESS STEEL
SECURITY SCREENS
MANUFACTURER, DISTRIBUTOR
AND
SERVICE PROVIDER
|
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 March 24, 2003
as a private
limited company under the
registered name MESHTEC
INTERNATIONAL CO., LTD., by Australian groups. Its business
objective is to
design and manufacture
high tensile stainless
steel security screens
to both domestic
and overseas markets. It
currently employs approximately
300 staff.
The subject’s registered
address is 168
Moo 3, Chiangmai-Lampang Rd.,
T. Sarapee, A. Sarapee, Chiangmai
50140, and this
is the subject’s
current operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. David Neil Edlin |
|
Australian |
51 |
|
Mr. Peter Syme Taylor |
|
Australian |
61 |
AUTHORIZED PERSON
1. In case of
juristic act for
the amount over Bht.
20 million, both
directors can jointly
sign on
behalf of the subject with
company’s affixed.
2. In case of
juristic act for
the amount not
exceeding Bht. 20
million, one of
the
above directors
can sign on
behalf of the
subject with company’s
affixed.
3. In case
of contact to the government
sector, one of the above
directors can sign
on
behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. David Neil Edlin
is the President
and Chief Executive
Officer.
He is Australian
nationality with the
age of 51
years old.
Mr. Peter Syme Taylor
is the General
Manager and Business
Development Manager.
He is Australian
nationality with the
age of 61
years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, distributing
and exporting high
tensile stainless steel
security screens for
residential and commercial,
architectural and security
screen applications. The
products are sliding
doors, hinged doors,
stainless steel woven
mesh, bi-fold doors,
fixed panel, patio
and enclosures, awning
windows, child fall
protection screen, vandal
protection screen, fencing
and balustrade system,
hurricane protection screen,
casement windows and accessories.
The subject also
provides installation, repair
and maintenance service.
MAJOR BRAND
“MESHTEC”
PURCHASE
Raw materials such as
stainless steel, aluminum
and accessories are
purchased from suppliers
and agents of
both domestic and
overseas in Japan,
Republic of China,
Germany, Taiwan and
Korea.
SALES
70% of the
products is exported to
over 30 countries such
as Australia, Japan, Malaysia, Indonesia,
Singapore, Taiwan, U.S.A.,
Republic of China,
Korea, and the
country in Europe
and Africa, the
remaining 30% is
sold locally.
ASSOCIATED COMPANY
Majestec Trading (Thailand)
Co., Ltd.
Business Type :
Importer and distributor
of premium security
doors and windows
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 30-60 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
EMPLOYMENT
The subject employs
approximately 300 staff.
LOCATION DETAILS
The premise is
owned for administrative office and factory
at the heading
address.
Premise is located
in provincial.
Branch/ Bangkok office :
335/1 Pattanakarn Rd.,
Prawet, Bangkok 10250.
Tel.: [66] 2322-6094-5,
Fax: [66] 2322-6096.
COMMENT
Subject was formed
in 2003 as
a manufacturer, distributor
and exporter of
high tensile stainless
steel security screens and
related products. The products have
been used widely
for premium residence
such as private
house, high-end apartment, condominium and
housing project. Subject reported
strong sales or
service income and
net profit in
2017 comparing to
the previous year.
The products are
also expanded widely
to many countries
in Africa and
Europe, which have
strong markets and
good results.
FINANCIAL INFORMATION
The capital was
registered at Bht.
1,000,000 divided into
10,000 shares of
Bht. 100 each.
The capital was
increased later as
follows:
Bht. 45,000,000
on April 28,
2003
Bht. 105,750,000
on December 26,
2005
Bht. 152,280,000
on June 23,
2006
Bht. 253,800,000
on July 23,
2007
The latest registered
capital was increased
to Bht. 253,800,000 divided into 2,538,000
shares of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as
at March 21,
2018]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. David Neil Edlin Nationality: Australian Address : 168
Moo 3, Chiangmai-Lampang Rd., T.
Sarapee, A. Sarapee, Chiangmai |
1,269,000 |
50.00 |
|
Mr. Peter Syme Taylor Nationality: Australian Address : 168
Moo 3, Chiangmai-Lampang Rd., T.
Sarapee, A. Sarapee, Chiangmai |
1,218,240 |
48.00 |
|
Malmor Investment Pty.
Ltd. Nationality: Australian Address : 83
Mount Street, North
Sydney, Australia |
50,760 |
2.00 |
Total Shareholders : 3
Share Structure [as
at March 21,
2018]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - Australian |
3 |
2,538,000 |
100.00 |
|
Total |
3 |
2,538,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Sawitree Ongsirimongkol No.
10449
BALANCE SHEET [BAHT]
The latest financial
figures published for
December 31, 2017,
2016 and 2015
were:
ASSETS
|
Current Assets |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Cash and Cash Equivalents |
212,443,738 |
129,347,633 |
121,820,999 |
|
Short-term Investment |
71,852,031 |
41,222,852 |
102,895,773 |
|
Trade Accounts and
Other Receivable |
107,077,454 |
78,814,264 |
93,807,470 |
|
Inventories |
257,997,170 |
253,933,154 |
241,168,685 |
|
Other Current Assets |
- |
2,979,872 |
2,257,496 |
|
Total Current Assets
|
649,370,393 |
506,297,775 |
561,950,423 |
|
|
|
|
|
|
Other Long-term Investment |
- |
1,264,093 |
1,264,093 |
|
Property, Plant and
Equipment |
421,307,889 |
457,882,651 |
419,487,124 |
|
Intangible Assets |
4,907,214 |
5,302,394 |
6,267,665 |
|
Other Non-current Assets |
27,446,000 |
27,446,000 |
22,346,000 |
|
Total Assets |
1,103,031,496 |
998,192,913 |
1,011,315,305 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Trade Accounts and Other
Payable |
45,360,157 |
36,381,059 |
52,194,911 |
|
Accrued Income Tax |
28,215,183 |
28,915,282 |
25,622,654 |
|
Other Current Liabilities |
- |
6,066,594 |
1,700,512 |
|
Total Current Liabilities |
73,575,340 |
71,362,935 |
79,518,077 |
|
|
|
|
|
|
Provision for Employee Benefits
|
19,669,981 |
16,933,481 |
14,576,051 |
|
Total Liabilities |
93,245,321 |
88,296,416 |
94,094,128 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, and
issued share capital
2,538,000 shares
|
253,800,000 |
253,800,000 |
253,800,000 |
|
Capital Paid |
253,800,000 |
253,800,000 |
253,800,000 |
|
Retained Earnings : [Deficit] Appropriated statutory
reserve |
25,500,000 |
25,500,000 |
25,500,000 |
|
Unappropriated |
730,486,175 |
630,596,497 |
637,921,177 |
|
Total Shareholders’ Equity |
1,009,786,175 |
909,896,497 |
917,221,177 |
|
Total Liabilities and
Shareholders’ Equity |
1,103,031,496 |
998,192,913 |
1,011,315,305 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Sales or Services Income |
1,187,587,011 |
1,068,495,991 |
1,052,037,652 |
|
Other Income |
37,469,819 |
27,307,234 |
35,647,425 |
|
Total Revenues |
1,225,056,830 |
1,095,803,225 |
1,087,685,077 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
599,988,303 |
551,074,085 |
597,318,772 |
|
Selling Expenses |
19,195,666 |
16,903,335 |
20,566,319 |
|
Administrative Expenses |
102,759,976 |
93,043,037 |
82,929,439 |
|
Total Expenses |
721,943,945 |
661,020,457 |
700,814,530 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost and Income Tax |
503,112,885 |
434,782,768 |
386,870,547 |
|
Financial Cost |
[53,223,207] |
[56,922,262] |
[792,118] |
|
|
|
|
|
|
Profit /[Loss] before Income
Tax |
449,889,678 |
377,860,506 |
386,078,429 |
|
Income Tax |
- |
- |
[45,650,348] |
|
Net Profit / [Loss] |
449,889,678 |
377,860,506 |
340,428,081 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2017 |
2016 |
2015 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
8.83 |
7.09 |
7.07 |
|
QUICK RATIO |
TIMES |
5.32 |
3.49 |
4.01 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.82 |
2.33 |
2.51 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.08 |
1.07 |
1.04 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
156.95 |
168.19 |
147.37 |
|
INVENTORY TURNOVER |
TIMES |
2.33 |
2.17 |
2.48 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
32.91 |
26.92 |
32.55 |
|
RECEIVABLES TURNOVER |
TIMES |
11.09 |
13.56 |
11.21 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
27.59 |
24.10 |
31.89 |
|
CASH CONVERSION CYCLE |
DAYS |
162.27 |
171.02 |
148.02 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
50.52 |
51.57 |
56.78 |
|
SELLING & ADMINISTRATION |
% |
10.27 |
10.29 |
9.84 |
|
INTEREST |
% |
4.48 |
5.33 |
0.08 |
|
GROSS PROFIT MARGIN |
% |
52.63 |
50.98 |
46.61 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
42.36 |
40.69 |
36.77 |
|
NET PROFIT MARGIN |
% |
37.88 |
35.36 |
32.36 |
|
RETURN ON EQUITY |
% |
44.55 |
41.53 |
37.12 |
|
RETURN ON ASSET |
% |
40.79 |
37.85 |
33.66 |
|
EARNING PER SHARE |
BAHT |
177.26 |
148.88 |
134.13 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.08 |
0.09 |
0.09 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.09 |
0.10 |
0.10 |
|
TIME INTEREST EARNED |
TIMES |
9.45 |
7.64 |
488.40 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
11.15 |
1.56 |
|
|
OPERATING PROFIT |
% |
15.72 |
12.38 |
|
|
NET PROFIT |
% |
19.06 |
11.00 |
|
|
FIXED ASSETS |
% |
(7.99) |
9.15 |
|
|
TOTAL ASSETS |
% |
10.50 |
(1.30) |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 11.15%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
52.63 |
Impressive |
Industrial Average |
16.01 |
|
Net Profit Margin |
37.88 |
Impressive |
Industrial Average |
25.25 |
|
Return on Assets |
40.79 |
Impressive |
Industrial Average |
18.69 |
|
Return on Equity |
44.55 |
Impressive |
Industrial Average |
22.81 |
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 52.63%. 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 37.88%,
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
40.79%, 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 44.55%, 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 Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
8.83 |
Impressive |
Industrial Average |
3.60 |
|
Quick Ratio |
5.32 |
|
|
|
|
Cash Conversion Cycle |
162.27 |
|
|
|
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 8.83 times in 2017, increase from 7.09 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 5.32 times in 2017,
increase from 3.49 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 163 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.08 |
Impressive |
Industrial Average |
0.18 |
|
Debt to Equity Ratio |
0.09 |
Impressive |
Industrial Average |
0.22 |
|
Times Interest Earned |
9.45 |
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 9.46 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 0.08 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.82 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.08 |
Impressive |
Industrial Average |
0.60 |
|
Inventory Conversion Period |
156.95 |
|
|
|
|
Inventory Turnover |
2.33 |
Impressive |
Industrial Average |
1.24 |
|
Receivables Conversion Period |
32.91 |
|
|
|
|
Receivables Turnover |
11.09 |
Impressive |
Industrial Average |
4.68 |
|
Payables Conversion Period |
27.59 |
|
|
|
The company's Account Receivable Ratio is calculated as 11.09 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 decreased from 168 days at the
end of 2016 to 157 days at the end of 2017. This represents a positive trend.
And Inventory turnover has increased from 2.17 times in year 2016 to 2.33 times
in year 2017.
The company's Total Asset Turnover is calculated as 1.08 times and 1.07
times in 2017 and 2016 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 66.22 |
|
|
1 |
INR 92.84 |
|
Euro |
1 |
INR 81.27 |
|
Thai Baht |
1 |
INR 2.11 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
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.