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MIRA INFORM REPORT
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Report No. : |
488608 |
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Report Date : |
02.02.2018 |
IDENTIFICATION DETAILS
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Name : |
AUTONEUM MANAGEMENT AG |
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Registered Office : |
Schlosstalstrasse 43, 8406 Winterthur/ZH, Switzerland/CH |
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Country : |
Switzerland |
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Date of Incorporation : |
01.06.1960 |
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Com. Reg. No.: |
020.3.913.466-0 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
The purpose of the company
is to provide management services, management and administration, interests
in commercial, manufacturing and other commercial and technical ventures of
the Group. |
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No. of Employees : |
175 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Switzerland |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland, a country that espouses neutrality, is a prosperous and modern
market economy with low unemployment, a highly skilled labor force, and a per
capita GDP among the highest in the world. Switzerland's economy benefits from
a highly developed service sector, led by financial services, and a
manufacturing industry that specializes in high-technology, knowledge-based
production. Its economic and political stability, transparent legal system,
exceptional infrastructure, efficient capital markets, and low corporate tax
rates also make Switzerland one of the world's most competitive economies.
The Swiss have brought their economic practices largely into conformity
with the EU's to enhance their international competitiveness, but some trade
protectionism remains, particularly for its small agricultural sector. The fate
of the Swiss economy is tightly linked to that of its neighbors in the euro
zone, which purchases half of Swiss exports. The global financial crisis of
2008 and resulting economic downturn in 2009 stalled demand for Swiss exports
and put Switzerland into a recession. During this period, the Swiss National
Bank (SNB) implemented a zero-interest rate policy to boost the economy, as
well as to prevent appreciation of the franc, and Switzerland's economy began
to recover in 2010.
The sovereign debt crises unfolding in neighboring euro-zone countries,
however, coupled with ongoing economic instability in Russia and other eastern
European economies continue to pose a significant risk to the Swiss economy,
driving up demand for the Swiss franc by investors seeking a safe-haven
currency. In January 2015, the SNB abandoned the Swiss franc’s peg to the euro,
roiling global currency markets and making active SNB intervention a necessary
hallmark of present-day Swiss monetary policy. The independent SNB has upheld
its zero interest rate policy and conducted major market interventions to
prevent further appreciation of the Swiss franc, but parliamentarians have
urged it to do more to weaken the currency. The franc's strength has made Swiss
exports less competitive and weakened the country's growth outlook; GDP growth
fell below 2% per year from 2011-17.
In recent years, Switzerland has responded to increasing pressure from
neighboring countries and trading partners to reform its banking secrecy laws,
by agreeing to conform to OECD regulations on administrative assistance in tax
matters, including tax evasion. The Swiss government has also renegotiated its
double taxation agreements with numerous countries, including the US, to
incorporate OECD standards, and is openly considering the possibility of
imposing taxes on bank deposits held by foreigners.
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Source
: CIA |
Company
name
AUTONEUM MANAGEMENT AG
Operating address
Schlosstalstrasse 43
8406 Winterthur/ZH
Switzerland/CH
Telephone: +41 522448282
Fax: +41 522448337
Web site: http://www.autoneum.com
E-mail: info@autoneum.com
WIN No.: CH0000079644
VAT-No.: CHE-107.840.013 MWST
UID-No.: CHE107840013
Profile
Established: 1960
Line of Business: Consulting/Auditing, Financial
services
Industry Division: Services
Industry-code (NACE): 7010 Activities
of head offices
6420 Activities
of holding companies
Banks: unknown
Operational Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 175
Sales: CHF 20-40 Mio
Activity
The purpose of the company
is to provide management services, management and administration, interests in
commercial, manufacturing and other commercial and technical ventures of the
Group.
The Group is a leading
global automotive supplier for vehicle acoustic and thermal management. Vehicle
manufacturers in Europe, North America, South America and Asia are the buyers
of the products. The Group is represented by more than 50 locations in around
20 countries.
Operations and Branches:
At the address, Schlosstalstrasse
43, 8406 Winterthur, Switzerland, we find office of the company.
Real Estate
Real Estate: The company owns no property.
Company Register
Company No: 020.3.913.466-0
UID-No.: CHE107840013
Legal form: Company Limited by Shares
Registration: 01.06.1960
Legal status: active
Responsible Register: Handelsregister des Kantons Zürich
History: Date of Statutes: 21.11.1985
Date of Statutes: 16.05.2011
Date of Statutes: 28.04.2011
Date of Statutes: 30.10.2008
Date of Statutes: 07.04.1997
Date of Statutes: 15.06.1995
Date of Statutes: 20.07.1994
Entry Deleted Name
27.05.2011 Autoneum Management AG
27.05.2011 Autoneum Management Ltd
(Name translated)
27.05.2011 Autoneum Management SA (Name
translated)
23.06.1995 Interkeller
AG
23.06.1995 Interkeller
Ltd (Name translated)
23.06.1995 Interkeller
SA (Name translated)
10.05.2011 27.05.2011 RIETER AUTOMOTIVE MANAGEMENT AG
10.05.2011 27.05.2011 RIETER AUTOMOTIVE MANAGEMENT LTD: (Name translated)
10.05.2011 27.05.2011 RIETER AUTOMOTIVE MANAGEMENT SA (Name translated)
23.06.1995 10.05.2011 Rieter Automotive Management AG
23.06.1995 10.05.2011 Rieter Automotive Management SA (Name translated)
23.06.1995 10.05.2011 Rieter Automotive Management Ltd (Name translated)
Entry Deleted Legal
domicile
16.06.1997 Winterthur,
Switzerland
16.06.1997 Wangen-Brüttisellen, Switzerland
removed Zürich, Switzerland
Entry Deleted Address
16.06.1997 Schlosstalstrasse 43, 8406
Winterthur, Switzerland/CH
16.06.1997 Birkenstrasse
17, 8306 Brüttisellen/ZH, Switzerland/CH
Entry Deleted Capital
active Share Capital CHF 1,300,000,
paidup CHF 1,300,000
Entry Deleted Capital
Structure
10.05.2011 1,010 Registered shares of
CHF 500.--
10.05.2011 7,950 Registered shares
(voting shares) of CHF 100.--
10.05.2011 1,010
Registered shares (B) of CHF 500.--
10.05.2011 7,950
Registered shares (A) of CHF 100.--
Entry Deleted Remarks
22.12.2012 Merger: On 16.12.2011 the
company merged with AUTONEUM TECHNOLOGIES AG, based in Winterthur
(CH-020.3.024.098-2).
Official Administration
Title Name
President Hirzel, Martin
Citizen: Zürich, Switzerland
Residential address: Zumikon, Switzerland
joint signature of two
Registered since: 03.04.2008
Director Weber, Bernhard
Citizen: Wohlen AG, Switzerland
Residential address: Urdorf, Switzerland
joint signature of two
Registered since: 12.07.2011
Director Zwyssig, Martin
Citizen: Sisikon, Switzerland
Residential address: Rorschacherberg, Switzerland
joint signature of two
Registered since: 11.06.2014
Management
Title Name
Member with signing
authority Banhegyi, Georg
Citizen: Greifensee, Switzerland
Residential address: Elsau, Switzerland
joint signature of two
Registered since: 12.07.2011
Member with signing
authority Bendler, Alexandra
Citizen: Germany
Residential address: Kreuzlingen, Switzerland
joint signature of two
Registered since: 05.03.2012
Member with signing
authority Beulné, Valéry
Citizen: France
Residential address: Bassersdorf, Switzerland
joint signature of two
Registered since: 02.11.2016
Member with signing
authority Caprioli, Davide
Citizen: Italy
Residential address: Winterthur, Switzerland
joint signature of two
Registered since: 27.02.2013
Member with signing
authority de Nardin, Marcus
Citizen: Walliswil bei Wangen, Switzerland
Residential address: Ellikon an der Thur, Switzerland
joint signature of two
Registered since: 27.08.2015
Member with signing
authority Fäh, Charles
Citizen: Benken SG, Switzerland
Residential address: Winterthur, Switzerland
joint signature of two
Registered since: 03.04.2008
Member with signing
authority Frater, Kinga
Citizen: Greifensee, Switzerland
Residential address:
Kleinandelfingen, Switzerland
joint signature of two
Registered since: 27.02.2013
Member with signing
authority Gyger, Seraina
Citizen: Lotzwil, Switzerland
Residential address: Seuzach, Switzerland
joint signature of two
Registered since: 11.06.2014
Member with signing
authority Hahn, Janko
Citizen: Germany
Residential address: Singen, Germany
joint signature of two
Registered since: 27.08.2015
Member with signing
authority Himpele, Markus
Citizen: Germany
Residential address: Winterthur, Switzerland
joint signature of two
Registered since: 16.12.2016
Member with signing
authority Holzammer, Matthias
Citizen: Germany
Residential address: Münsterlingen, Switzerland
joint signature of two
Registered since: 24.09.2012
Member with signing
authority Inderbitzin, Markus
Citizen: Ingenbohl, Switzerland
Residential address: Lachen, Switzerland
joint signature of two
Registered since: 25.04.2017
Member with signing
authority Kley, Tilman
Citizen: Germany
Residential address: Winterthur, Switzerland
joint signature of two
Registered since: 17.02.2016
Member with signing
authority Kuchowsky, Natalie
Citizen: Kreuzlingen, Switzerland
Residential address: Winterthur, Switzerland
joint signature of two
Registered since: 28.07.2014
Member with signing
authority Loretz, Andreas
Citizen: Austria
Residential address: Thalwil, Switzerland
joint signature of two
Registered since: 19.11.2015
Member with signing
authority Mantovani, Maurizio
Citizen: Italy
Residential address: Wiesendangen, Switzerland
joint signature of two
Registered since: 16.09.1999
Member with signing
authority Prévôt, Roger
Citizen: Küsnacht ZH, Switzerland
Residential address: Windisch, Switzerland
joint signature of two
Registered since: 26.07.2012
Member with signing
authority Rickmann, Anahid
Citizen: Germany
Residential address: Küsnacht/ZH, Switzerland
joint signature of two
Registered since: 29.04.2016
Member with signing
authority Seuvre, Gérard
Citizen: France
Residential address: Bacquemont , France
joint signature of two
Registered since: 09.03.2004
Member with signing
authority Smith, Kevin
Citizen: Germany
Residential address: Zürich, Switzerland
joint signature of two
Registered since: 01.10.2010
Member with signing
authority Stockburger, Francesca
Citizen: Germany
Residential address: Winterthur, Switzerland
joint signature of two
Registered since: 02.07.2015
Member with signing
authority Stockburger, Lars
Citizen: Germany
Residential address: Winterthur, Switzerland
joint signature of two
Registered since: 02.07.2015
Member with signing
authority van Adrichem Geisseler,
Johanna
Citizen: Netherlands
Residential address: Schaffhausen, Switzerland
joint signature of two
Registered since: 15.02.2012
Member with signing
authority Wulf, Bernd Uwe
Citizen: Germany
Residential address: Egliswil, Switzerland
joint signature of two
Registered since: 21.03.2005
Member with procuration Wiehl, Bernhard
Citizen: Germany
Residential address: Konstanz, Germany
joint power of attorney of two
Registered since: 28.07.2014
External Positions
Title Name
Auditor KPMG AG,
Residential address: Zürich, Switzerland
Id: CHE-106.084.881
Registered since: 02.09.1993
Ultimate Parent Company
Name: Autoneum Holding AG
City/Country: Winterthur/ZH, Switzerland/CH
Direct owner/-s
No. of owner/-s: 1
Owner: The company is domestic owned.
Class: 100%, directly held
Name: Autoneum Holding AG
City/Country: Winterthur/ZH, Switzerland/CH
Interest: 100,00% voting right, 100,00%
capital interest (since 07.12.2010)
Investments
It is believed that the
company has no investments.
Sisters
Name: Autoneum International AG
City/Country: Winterthur/ZH, Switzerland/CH
Name: Autoneum Switzerland AG
City/Country: Sevelen/SG, Switzerland/CH
Financial Data Autoneum Holding AG
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2016 31.12.2015 31.12.2014 31.12.2013 31.12.2012
Number of months: 12 12 12 12 12
Currency: mil.
CHF mil. CHF mil. CHF mil. CHF mil.
CHF
Statement norm: IAS IAS IAS IAS
Balance Sheet
Intangible fixed assets 9.0 9.8 10.0 7.9 2.8
Land and buildings 235.0 105.0 104.1 108.3 110.7
Other tangible fixed assets 265.0 328.5 305.5 259.3 271.4
Tangible fixed assets 500.0 433.5 409.6 367.6 382.1
Financial fixed assets 57.0 8.3 6.4 21.5 9.3
other fixed assets 82.0 101.7 110.2 43.7 40.2
Fixed assets 648.0 553.3 536.2 440.7 434.4
Stocks 148.0 130.9 130.5 116.9 112.2
Trade accounts receivable 276.0 254.9 220.3 218.0 256.7
Cash & Cash Equivalents 150.0 78.7 140.9 117.9 75.3
Securities 0.8 0.9 18.7 0.2
other trade accounts 70.0 83.2 56.8 61.8 56.4
Accruals 6.0 12.9 13.7 16.6 16.7
Other current assets 226.0 175.6 212.3 215.0 148.6
Current assets 650.0 561.4 563.1 549.9 517.5
Total assets 1,298.0 1,114.7 1,099.3 990.6 951.9
Capital 0.2 0.2 0.2 0.2
Other shareholders funds 394.0 301.1 303.3 232.7 213.0
Total shareholders equity 394.0 301.3 303.5 232.9 213.2
Minority interests 105.0 96.2 89.0 69.1 62.3
long term debt (financial debts) 78.0 170.9 134.6 163.0 155.9
Provisions 143.0 54.4 42.8 33.1 40.4
Other non current liabilities 59.5 58.7 38.8 40.7
Non current liabilities 221.0 284.8 236.1 234.9 237.0
short term debt (financial debts) 130.0 14.0 61.0 48.6 42.6
Trade accounts payable 254.0 243.3 250.4 231.3 244.9
Provisions 14.0 14.8 11.7 25.8 20.6
Accruals 65.0 61.6 55.1 53.1 43.3
other accounts payable 115.0 98.7 92.5 94.9 88.0
other current liabilities 194.0 175.1 159.3 173.8 151.9
Current liabilities 578.0 432.4 470.7 453.7 439.4
Shareh. equity, min. int. & liabilities 1,298.0 1,114.7 1,099.3 990.6 951.9
Profit and loss account
Sales 2,153.0
Net sales 2,153.0 2,085.9 1,954.7 2,053.3 1,940.9
Other operating revenue 52.0 15.5 16.5 9.0 9.6
Operating revenue 2,205.0 2,101.4 1,971.2 2,062.3 1,950.5
Cost of goods sold 1,004.0 998.1 964.5 1,036.5 984.1
Gross profit 1,201.0 1,103.3 1,006.7 1,025.8 966.4
Other operating expenses 997.0 976.9 871.6 946.6 889.1
Operating result 204.0 126.4 135.1 79.2 77.3
Interest revenues 1.0 0.7 0.8 0.6 0.6
other financial revenues 4.0 2.1 0.2 2.4 0.5
Financial income 5.0 2.8 1.0 3.0 1.1
Interest expenses 11.0 12.0 12.7 15.9 19.9
other financial expenses 4.0 8.2 3.7 1.8 3.7
Financial expenses 15.0 20.2 16.4 17.7 23.6
Financial result -10.0 -17.4 -15.4 -14.7 -22.5
Result before extraordinary items 194.0 109.0 119.7 64.5 54.8
Result before taxes 194.0 109.0 119.7 64.5 54.8
Taxes 60.0 40.5 17.3 28.3 25.2
Result before minority interests 134.0 68.5 102.4 36.2 29.6
minority interests 38.0 26.5 23.9 21.7 17.5
Result for the financial year 96.0 42.0 78.5 14.5 12.1
Cash flow
Depreciation 65.1 66.5 66.8 69.1
Cash flow 96.0 133.6 168.9 103.0 98.7
Cash flow from operating activities 111.7 138.2 165.7 114.9
Investments in tangible fixed assets 119.1 98.7 75.5 72.6
Cash flow from investing activities -123.1 -108.8 -98.6 -66.8
Cash flow from financing activities -43.5 -15.0 -20.7 -36.4
Others -7.3 8.5 -3.8 -1.3
Change in liquidity -62.2 22.9 42.6 10.4
Liquidity at beginning of the year 140.9 117.9 75.3 64.9
Liquidity at end of the year 78.7 140.8 117.9 75.3
Notes
Material costs 998.1 964.5 1,040.8 984.7
Cost of employees 545.2 499.8 532.0 518.0
Research and Development 60.7 57.1 64.4 66.4
Added value 731.3 698.7 679.2 661.8
Working Capital 142.5 100.4 103.6 124.0
Net Current Assets 72.0 129.0 92.4 96.2 78.1
Sales per Employee 0.2 0.2 0.2 0.2
Market capitalisation 938.1 783.0 633.3 207.1
Gross cost land and buildings 233.0 237.6 237.5 249.8
Gross cost other tangible fixed assets 1,036.3 1,049.5 972.6 1,091.1
Gross cost total 1,269.3 1,287.1 1,210.1 1,340.9
Employees at
year end 11,423 10,681 9,613 9,820
Financials
Balance sheet
publication:
The subject company does
not publish financial figures.
Legal Actions
Control date Year No. Amount CHF Status
15.04.2016 2016 0 Legal actions
31.12.2015 2015 0 Legal actions
31.12.2014 2014 0 Legal actions
No legal actions
determined.
An updated legal action
check is only available against proof of interest. e.g. a copy of an enquiry
letter, and order or invoice relating to the subject company.
Sanctions List
We did not find the company
included on the various international sanctions lists, such as the OFAC (Office
of Foreign Assets Control), the BIS (Bureau of Industry and Security), the
European Union Restrictive measures (sanctions) list, the Export Control
Organisation (ECO) of the UK, the Australian Department of Foreign Affairs and
Trade.
Payment experiences
Payment experiences are
considered to be in order.
Credit Information
Financial Statements: The company does not disclose any financial statements.
Third parties are not permitted
any insight into the
financial affairs. It is therefore difficult to make a proper assessment of the
actual situation.
Financial Situation: The financial situation appears to be
good.
Payment experiences: Financial obligations are met as appropriate.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.61 |
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|
1 |
INR 90.17 |
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Euro |
1 |
INR 78.95 |
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CHF |
1 |
INR 68.92 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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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 |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.