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MIRA
INFORM REPORT
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Report No. : |
504714 |
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Report Date : |
27.04.2018 |
IDENTIFICATION DETAILS
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Name : |
SU-RAJ INTER GOLD PVT. LTD. |
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Registered Office : |
191 Soi Chokechaijongjamroen, Rama
3 Road, Bangpongpang, Yannawa, Bangkok 10120 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
26.02.2004 |
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Com. Reg. No.: |
0105547028648 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The subject is
engaged in design,
manufacturing and
distributing 9k, 14k and
18k fine gold
and diamond jewelry such
as ring, earrings, pendant,
bracelet, bangle, diamond
& gold cuff-link, necklace sets,
and mini sets
under its own
brand “SU-RAJ INTER
GOLD”, as well
as providing contract
manufacturing of the
products under customer’s
requirement and brand.
|
|
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No. of Employees : |
80 |
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 : |
Slow |
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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
SU-RAJ INTER GOLD PVT. LTD.
SUMMARY
BUSINESS ADDRESS : 191
SOI CHOKECHAIJONGJAMROEN, RAMA
3
ROAD, BANGPONGPANG, YANNAWA, BANGKOK 10120,
THAILAND
TELEPHONE : [66] 2649-0000
FAX : [66] 2649-0088
E-MAIL ADDRESS : info@su-rajintergold.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2004
REGISTRATION NO. : 0105547028648
TAX ID NO. : 3031336100
CAPITAL REGISTERED : BHT.
75,000,000
CAPITAL PAID-UP : BHT.
75,000,000
SHAREHOLDER’S PROPORTION : THAI
: 51.00%
INDIAN
: 49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. RAJAN KISHORIMAL
KHIMAWAT, INDIAN
MANAGING DIRECTOR
NO. OF STAFF : 80
LINES OF BUSINESS : GOLD
AND DIAMOND JEWELRY
PRODUCTS
MANUFACTURER, EXPORTER
AND DISTRIBUTOR
|
CORPORATE PROFILE |
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH FAIR PERFORMANCE
HISTORY
The subject was
established on February
26, 2004 as
a private limited
company under the
registered name SU-RAJ
INTER GOLD PVT.
LTD. by Thai
and Indian groups.
Its business objective is
to manufacture and
distribute various kinds
of gold and
diamond jewelry products
to both domestic
and overseas markets. It currently
employs approximately 80
staff.
The subject’s registered address
was initially at 326-328, 330 Mahaesak 1 Rd., Suriyawongse, Bangrak,
Bangkok 10500.
On August 9, 2010, its
registered address was
relocated to 191 Soi
Chokechaijongjamroen, Rama 3
Road, Bangpongpang, Yannawa,
Bangkok 10120, and
this is the
subject’s current operation
address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Rajan Kishorimal Khimawat |
|
Indian |
43 |
|
Mr. Abhishek Shekhar Bahvangir |
|
Indian |
31 |
|
Mr. Prateek Mehta |
|
Indian |
30 |
|
Mrs. Suchada Homjan |
|
Thai |
53 |
|
Mrs. Chanya Bunnumsathian |
|
Thai |
47 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Rajan Kishorimal
Khimawat is the
Managing Director.
He is Indian
nationality with the
age of 43 years old.
Mr. Sudesh Mahecha
is the Marketing
Manager.
He is Indian
nationality.
BUSINESS OPERATIONS
The subject is
engaged in design,
manufacturing and
distributing 9k, 14k and
18k fine gold
and diamond jewelry such
as ring, earrings, pendant,
bracelet, bangle, diamond
& gold cuff-link, necklace sets,
and mini sets
under its own
brand “SU-RAJ INTER
GOLD”, as well
as providing contract
manufacturing of the
products under customer’s
requirement and brand.
The subject’s products
have various types of setting such
as regular, channel,
invisible & especially
micro pave setting.
PURCHASE
Raw materials such as
diamonds, gemstones and accessories
are purchased from both domestic
and overseas suppliers
in India, Pakistan,
Hong Kong and South
Africa.
SALES
90% of the
products is exported
to U.S.A., United Arab
Emirates, India, Hong
Kong,
Vietnam, Korea, Japan
and the countries
in Europe, and
the remaining 10%
is sold locally
to wholesalers.
MAJOR CUSTOMER
Su-Raj Inter Gold
Inc. : U.S.A.
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 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
T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Company Limited
EMPLOYMENT
The subject employs
approximately 80 staff.
LOCATION DETAILS
The premise is
rented for administrative office and factory at
the heading address.
Premise is located
in a commercial
area.
COMMENT
The subject was
formed in 2004 as a
manufacturer, exporter and
distributor of gold and
diamond jewelry products.
The products are
mainly served to
overseas markets. The
subject’s operating performance
in 2016 was slowdown
from a decrease
in sales or
service income comparing
to the previous
year. Nevertheless, it managed
to obtain net
profit.
With a continuous
demand of the
products from abroad,
the subject anticipates to
eliminate its retained
earning [deficit] in the
future.
FINANCIAL INFORMATION
The capital was
registered at Bht. 2,000,000 divided into
20,000 shares of Bht. 100
each with fully
paid.
The capital was
increased later as
follows:
Bht. 10,000,000
on July 14,
2005
Bht. 20,000,000
on November 8,
2005
Bht. 40,000,000
on February 28,
2007
Bht. 75,000,000
on September 18,
2007
The latest registered
capital was increased
to Bht. 75 million, divided
into 750,000 shares
of Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 30,
2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Rajan Kishorimal Khimawat Nationality: Indian Address : 191 Soi Chokechaijongjamroen, Rama 3
Road, Bangpongpang, Yannawa, Bangkok |
200,000 |
26.67 |
|
Mrs. Nicha Rajan Khimawat Nationality: Indian Address : 191 Soi Chokechaijongjamroen, Rama 3
Road, Bangpongpang, Yannawa, Bangkok |
167,500 |
22.33 |
|
Mrs. Suchada Homjan Nationality: Thai Address : 126
Moo 8, Trok
Rimmaenamchaopraya, T.
Tamyae, A. Payu, Seesaket |
127,500 |
17.00 |
|
Mr. Prasert Jaiyen Nationality: Thai Address : 191 Soi Chokechaijongjamroen, Rama 3
Road, Bangpongpang, Yannawa, Bangkok |
127,500 |
17.00 |
|
Mrs. Chanya Bunnumsathian Nationality: Thai Address : 3828/4
Bangkorlaem, Bangkok |
127,500 |
17.00 |
Total Shareholders : 5
Share Structure [as
at April 30,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
382,500 |
51.00 |
|
Foreign - Indian |
2 |
367,500 |
49.00 |
|
Total |
5 |
750,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Supoj Ruangmethanon No.
2191
financial
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
|
32,590,799.14 |
31,449,520.20 |
31,507,201.78 |
|
Trade Account and
Other Receivable |
21,139,839.77 |
26,855,952.57 |
62,514,120.20 |
|
Inventories |
312,303,330.93 |
352,899,330.93 |
253,113,159.68 |
|
|
|
|
|
|
Total Current Assets
|
366,033,969.84 |
411,204,803.70 |
347,134,481.66 |
|
|
|
|
|
|
Property, Plant and Equipment |
25,594,160.16 |
26,049,460.66 |
25,426,809.65 |
|
Other Non-current Assets |
- |
69,602.00 |
- |
|
Total Assets |
391,628,130.00 |
437,323,866.36 |
372,561,291.31 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and
Short-term Loans from Financial Institutions |
121,746,052.80 |
120,791,569.37 |
- |
|
Trade Account and
Other Payable |
223,275,471.40 |
269,830,308.47 |
330,557,942.24 |
|
Short-term Loans |
- |
1,620,000.00 |
- |
|
Accrued Income Tax |
119,217.63 |
397,845.15 |
208,401.61 |
|
|
|
|
|
|
Total Current Liabilities |
345,140,741.83 |
392,639,722.99 |
330,766,343.85 |
|
Long-term Loan |
- |
59,835,889.37 |
- |
|
Long-term Estimation |
451,921.41 |
668,168.22 |
- |
|
Total Liabilities |
345,592,663.24 |
393,307,891.21 |
330,766,343.85 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and fully paid share
capital 750,000 shares |
75,000,000.00 |
75,000,000.00 |
75,000,000.00 |
|
|
|
|
|
|
Capital Paid |
75,000,000.00 |
75,000,000.00 |
75,000,000.00 |
|
Retained Earning - Unappropriated [Deficit] |
[28,964,533.24] |
[30,984,024.85] |
[33,205,052.54] |
|
Total Shareholders' Equity |
46,035,466.76 |
44,015,975.15 |
41,794,947.46 |
|
Total Liabilities and
Shareholders' Equity |
391,628,130.00 |
437,323,866.36 |
372,561,291.31 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
663,297,228.98 |
689,634,998.45 |
388,028,645.24 |
|
Other Income |
1,971,361.99 |
1,123,663.79 |
2,199,227.91 |
|
Total Revenues |
665,268,590.97 |
690,758,662.24 |
390,227,873.15 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Change in Finished Goods and Work in Progress |
616,898,891.54 |
633,751,488.77 |
- |
|
Employee Benefits Expenses |
23,794,514.70 |
23,415,045.18 |
- |
|
Other Expenses |
18,492,800.39 |
27,170,412.73 |
- |
|
Cost of Goods
Sold |
- |
- |
333,636,817.99 |
|
Selling Expenses |
- |
- |
26,886,483.01 |
|
Administrative Expenses |
- |
- |
25,676,589.39 |
|
Total Expenses |
659,186,206.63 |
684,336,946.68 |
386,199,890.39 |
|
|
|
|
|
|
Profit / [Loss] before Interest
Expenses |
6,082,384.34 |
6,421,715.56 |
4,027,982.76 |
|
Financial Cost |
[3,543,675.10] |
[3,537,842.72] |
- |
|
Interest Expenses |
- |
- |
[1,779,002.58] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax
|
2,538,709.24 |
2,883,872.84 |
2,248,980.18 |
|
Income Tax |
[519,217.63] |
[662,845.15] |
[458,401.61] |
|
Net Profit / [Loss] |
2,019,491.61 |
2,221,027.69 |
1,790,578.57 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.06 |
1.05 |
1.05 |
|
QUICK RATIO |
TIMES |
0.16 |
0.15 |
0.28 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
25.92 |
26.47 |
15.26 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.69 |
1.58 |
1.04 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
184.78 |
203.25 |
276.91 |
|
INVENTORY TURNOVER |
TIMES |
1.98 |
1.80 |
1.32 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
11.63 |
14.21 |
58.80 |
|
RECEIVABLES TURNOVER |
TIMES |
31.38 |
25.68 |
6.21 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
132.11 |
155.40 |
361.63 |
|
CASH CONVERSION CYCLE |
DAYS |
64.31 |
62.06 |
(25.92) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
93.00 |
91.90 |
85.98 |
|
SELLING & ADMINISTRATION |
% |
6.38 |
7.34 |
13.55 |
|
INTEREST |
% |
0.53 |
0.51 |
0.46 |
|
GROSS PROFIT MARGIN |
% |
7.29 |
8.27 |
14.58 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.92 |
0.93 |
1.04 |
|
NET PROFIT MARGIN |
% |
0.30 |
0.32 |
0.46 |
|
RETURN ON EQUITY |
% |
4.39 |
5.05 |
4.28 |
|
RETURN ON ASSET |
% |
0.52 |
0.51 |
0.48 |
|
EARNING PER SHARE |
BAHT |
2.69 |
2.96 |
2.39 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.88 |
0.90 |
0.89 |
|
DEBT TO EQUITY RATIO |
TIMES |
7.51 |
8.94 |
7.91 |
|
TIME INTEREST EARNED |
TIMES |
1.72 |
1.82 |
2.26 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(3.82) |
77.73 |
|
|
OPERATING PROFIT |
% |
(5.28) |
59.43 |
|
|
NET PROFIT |
% |
(9.07) |
24.04 |
|
|
FIXED ASSETS |
% |
(1.75) |
2.45 |
|
|
TOTAL ASSETS |
% |
(10.45) |
17.38 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -3.82%. Turnover has decreased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
7.29 |
Impressive |
Industrial Average |
0.62 |
|
Net Profit Margin |
0.30 |
Impressive |
Industrial Average |
0.09 |
|
Return on Assets |
0.52 |
Acceptable |
Industrial Average |
2.05 |
|
Return on Equity |
4.39 |
Satisfactory |
Industrial Average |
7.33 |
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. Gross Profit Margin is 7.29%. 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 0.3%,
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. When compared with the
industry average, it was lower, the
company's figure is 0.52%.
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 4.39%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.06 |
Satisfactory |
Industrial Average |
1.45 |
|
Quick Ratio |
0.16 |
|
|
|
|
Cash Conversion Cycle |
64.31 |
|
|
|
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 1.06 times in 2016, increase from 1.05 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 0.16 times in 2016,
increase from 0.15 times, then the company has not enough current assets that
presumably can be quickly converted to cash for pay financial obligations.
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 65 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.88 |
Acceptable |
Industrial Average |
0.72 |
|
Debt to Equity Ratio |
7.51 |
Risky |
Industrial Average |
2.57 |
|
Times Interest Earned |
1.72 |
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 1.72 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 0.88 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
25.92 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.69 |
Deteriorated |
Industrial Average |
23.92 |
|
Inventory Conversion Period |
184.78 |
|
|
|
|
Inventory Turnover |
1.98 |
Deteriorated |
Industrial Average |
51.25 |
|
Receivables Conversion Period |
11.63 |
|
|
|
|
Receivables Turnover |
31.38 |
Satisfactory |
Industrial Average |
59.29 |
|
Payables Conversion Period |
132.11 |
|
|
|
The company's Account Receivable Ratio is calculated as 31.38 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 203 days at the
end of 2015 to 185 days at the end of 2016. This represents a positive trend.
And Inventory turnover has increased from 1.8 times in year 2015 to 1.98 times
in year 2016.
The company's Total Asset Turnover is calculated as 1.69 times and 1.58
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 66.83 |
|
|
1 |
INR 93.17 |
|
Euro |
1 |
INR 81.38 |
|
TTHB |
1 |
INR 2.12 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
TRU |
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.