|
|
|
MIRA INFORM REPORT
|
Report No. : |
491362 |
|
Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SSANGYONG MOTOR COMPANY |
|
|
|
|
Registered Office : |
455-12, Dongsak-Ro, Pyeongtaek-Si,
Gyeonggi-Do, Korea 17749 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2017 |
|
|
|
|
Date of Incorporation : |
06.12.1962 |
|
|
|
|
Com. Reg. No.: |
125-81-14248 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Passenger Motor Vehicles. (Automotive, Automotive Parts) |
|
|
|
|
No. of Employees : |
4,919 |
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 : |
Exist |
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) |
|
South Korea |
A1 |
A1 |
|
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 |
SOUTH KOREA - ECONOMIC OVERVIEW
After emerging from the 1950-53 war with North Korea, South Korea emerged as one of the 20th century’s most remarkable economic success stories, becoming a developed, globally connected, high-technology society within decades. In the 1960s, GDP per capita was comparable with levels in the poorest countries in the world. In 2004, South Korea joined the trillion-dollar club of world economies.
Beginning in the 1960s under President PARK Chung-hee, the government promoted the import of raw materials and technology, encouraged saving and investment over consumption, kept wages low, and directed resources to export-oriented industries that remain important to the economy to this day. Growth surged under these policies, and frequently reached double-digits in the 1960s and 1970s. Growth gradually moderated in the 1990s as the economy matured, but remained strong enough to propel South Korea into the ranks of the advanced economies of the OECD by 1997. These policies also led to the emergence of family-owned chaebol conglomerates such as Daewoo, Hyundai, and Samsung, which retained their dominant positions even as the government loosened its grip on the economy amid the political changes of the 1980s and 1990s.
The Asian financial crisis of 1997-98 hit South Korea’s companies hard because of their excessive reliance on short-term borrowing, and GDP ultimately plunged by 7% in 1998. South Korea tackled difficult economic reforms following the crisis, including restructuring some chaebols, increasing labor market flexibility, and opening up to more foreign investment and imports. These steps lead to a relatively rapid economic recovery. South Korea also began expanding its network of free trade agreements to help bolster exports, and has since implemented 16 free trade agreements covering 58 countries—including the United State and China—that collectively cover more than three-quarters of global GDP.
In 2017, the election of President MOON Jae-in brought a surge in consumer confidence, in part, because of his successful efforts to increase wages and government spending. These factors combined with an uptick in export growth to drive real GDP growth to more than 3%, despite disruptions in South Korea’s trade with China over the deployment of a US missile defense system in South Korea.
In 2018 and beyond, South Korea will contend with gradually slowing economic growth - in the 2-3% range - not uncommon for advanced economies. This could be partially offset by efforts to address challenges arising from its rapidly aging population, inflexible labor market, continued dominance of the chaebols, and heavy reliance on exports rather than domestic consumption. Socioeconomic problems also persist, and include rising inequality, poverty among the elderly, high youth unemployment, long working hours, low worker productivity, and corruption.
|
Source
: CIA |
Basic Information
|
Company Name |
SSANGYONG MOTOR COMPANY |
|
Registered Address |
455-12, Dongsak-ro, Pyeongtaek-si,
Gyeonggi-do, Korea |
|
Building |
-- |
|
Zip Code |
17749 |
|
Tel |
+82-31-610-1114 |
|
Fax |
+82-31-610-3700 |
|
E-mail |
yoon04@smotor.com;j oonkim@smotor.com; ytjeong@smotor.com; edwin@smotor.com |
|
Website |
www.smotor.com |
|
Trading Address |
455-12, Dongsak-ro, Pyeongtaek-si,
Gyeonggi-do, Korea (Old Address System : 150-3, Chilgoe-dong,
Pyeongtaek-si, Gyeonggi-do, Korea (P.O.BOX 2123)) |
|
Tel |
+82-31-610-1114 |
|
Fax |
+82-31-610-3700 |
|
Other Address-Changwon Factory |
10, Gongdan-ro 474beon-gil, Seongsan-gu,
Changwon-si, Gyeongsangnam-do, Korea (Old Address System : 79, Seongsan-dong,
Changwon-si, Gyeongsangnam-do, Korea) |
|
Tel |
+82-55-268-0300 |
|
Fax |
+82-55-268-0655 |
|
Other Address-Customer Service Center |
243, Gurodong-ro, Guro-gu, Seoul, Korea (Old Address System : 584-12,
Gurobon-dong, Guro-gu, Seoul, Korea) |
|
Tel |
+82-80-500-5582 |
|
Fax |
+82-2-818-5947 |
|
Other Address-Guro Maintenance Office |
243, Gurodong-ro, Guro-gu, Seoul, Korea (Old Address System : 584-12,
Gurobon-dong, Guro-gu, Seoul, Korea) |
|
Tel |
+82-2-818-5582 |
|
Fax |
+82-2-818-5883 |
|
Other Address-Delivery Center |
55-8, Jinsa-ri, Gongdo-eup, Anseong-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-610-1385 |
|
Fax |
+82-31- 610-3759 |
|
Other Address-Daejeon Maintenance Academy |
113, Beotkkot-gil, Daedeok-gu, Daejeon, Korea (Old Address System : 315, Sangseo-dong,
Daedeok-gu, Daejeon, Korea) |
|
Tel |
+82-42-930-5619 +82-42-930-5582 |
|
Fax |
+82-42-933-2107 +82-42-933-2105 |
|
Other Address-Logistics Center |
181, Mojeon 1-gil, Seonggeo-eup, Seobuk-gu,
Cheonan-si, Chungcheongnam-do, Korea |
|
Other Address-A/S Center |
1654-75, Cheonan-daero, Jiksan-eup,
Seobuk-gu, Cheonan-si, Chungcheongnam-do, Korea |
|
Other Address-Gunsan Training Center |
72, Saengmeol-ro, Gunsan-si, Jeollabuk-do,
Korea |
|
Tel |
+82-63-469-2700 |
|
Other Address-Seoul Branch |
11FL., Poonglim Bldg., 124, Teheran-ro,
Gangnam-gu, Seoul, Korea (Old Address System : 11FL., Poonglim
Bldg., 823, Yeoksam-dong, Gangnam-gu, Seoul, Korea) |
|
Type |
Export/Import |
|
Industry |
Manufacture of Passenger Motor Vehicles |
|
Main Business |
Automotive, Automotive Parts |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
12/06/1962 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Passenger motor vehicles(25101500) |
|
Sell |
Light trucks or sport utility vehicles(25101507) |
CEO’s
|
Name |
Choi Jong-Shik |
|
Date of Birth |
11/19/1950 |
|
Title |
President & CEO |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
689,746,980,000 |
||||||||||||
|
Employees |
4,919 |
||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange: 003620)
as of 05/1975 Foreign Direct Investment Corporation(India) |
||||||||||||
|
Bank Details |
Shinhan Bank-Pyungtaik Branch Korea Development Bank Woori Bank |
||||||||||||
|
Corporate Registered No. |
110111-0035132 |
||||||||||||
|
Business Registered No. |
125-81-14248 |
||||||||||||
|
Permit & Licenses |
06/1996 ISO 9001 07/2004 GD Int’l Trade No.: 760584 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
12/06/1962 Incorporated as DONGBANG MOTOR
CO., LTD. 03/1988 Company name changed to the present
name 01/09/2009 Applied for Corporate Reviving
Procedure to Seoul Central District Court 02/06/2009 Approved to start Corporate
Reviving Procedure(2009HOIHAP6) by Seoul Central District Court 12/27/2009 Approved of the Changed Reviving
Plan 12/21/2009 Increased the authorized shares
to 3,000,000,000 shares from 1,600,000,000 shares 08/23/2010 MOU with Mahindra & Mahindra
Ltd.(India) on M&A 11/23/2010 Agree on Investment of M&A
with Mahindra & Mahindra Ltd.(India) 03/14/2011 Approved to finish Court
Reviving Procedure(2009HOIHAP6) by Seoul Central District Court 05/23/2013 Increased capital to
686,100,480,000 KRW from 613,373,205,000 KRW 03/04/2017 Increased capital to
689,746,980,000 KRW from 686,100,480,000 KRW |
Management
|
Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President & CEO |
Choi Jong-Shik |
Korean |
11/19/1950 |
03/24/2015 |
|
Director |
Pawankuma Goenka |
Indian |
09/23/1954 |
04/05/2016 |
|
Director |
Rajiv Dubei |
Indian |
04/03/1954 |
03/26/2014 |
|
Outside Director / Auditor |
Dominic D Marco |
USA |
02/03/1951 |
10/31/2012 |
|
Outside Director / Auditor |
Jang Dae-Ryeon |
Korean |
09/13/1956 |
03/26/2014 |
|
Outside Director / Auditor |
Won Bong-Hee |
Korean |
12/06/1948 |
03/23/2016 |
|
Outside Director / Auditor |
Park Yong-Hwan |
Korean |
10/26/1956 |
03/23/2016 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2,588,093,981,319 |
2,169,658,644,189 |
-37,206,596,421 |
|
|
2016 |
3,626,340,467,068 |
2,170,784,176,015 |
56,769,807,819 |
|
2015 |
3,385,555,598,276 |
2,047,590,483,164 |
-58,659,179,889 |
|
2014 |
3,314,895,562,083 |
1,973,845,672,312 |
-50,635,793,202 |
|
2013 |
3,475,185,982,885 |
2,123,812,800,976 |
-3,778,044,742 |
|
2012 |
2,863,805,546,545 |
1,857,617,322,811 |
-106,069,450,792 |
|
2011 |
2,773,120,072,588 |
1,799,689,795,775 |
-112,438,814,048 |
|
2010 |
2,101,432,433,639 |
1,728,787,130,178 |
-26,228,348,967 |
|
2009 |
1,066,816,481,285 |
1,388,474,220,234 |
-346,270,151,840 |
|
2008 |
2,495,216,766,094 |
1,705,288,475,327 |
-709,683,874,563 |
|
2007 |
3,119,335,283,810 |
2,417,229,813,146 |
11,571,329,579 |
|
2006 |
2,951,836,878,485 |
2,351,294,815,055 |
-195,961,754,371 |
|
2005 |
3,403,697,398,464 |
2,708,841,274,014 |
-103,360,185,965 |
|
2004 |
3,297,855,322,682 |
2,610,198,997,183 |
11,388,736,484 |
Financial Description
|
Authorized Capital(KRW) |
15,000,000,000,000 |
|
Paid-Up Capital(KRW) |
689,746,980,000 |
|
Total Issues Shares |
137,949,396 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2017~09/30/2017 |
As of 12/31/2016 |
As of 12/31/2015 |
|
Total
Assets |
2,169,658,644,189 |
2,170,784,176,015 |
2,047,590,483,164 |
|
Current Assets |
613,511,403,142 |
679,572,861,017 |
605,693,863,337 |
|
Cash
& Cash Equivalents |
130,085,920,509 |
234,657,416,084 |
192,773,290,414 |
|
Trade
Receivables |
185,913,224,451 |
218,645,303,615 |
151,755,651,700 |
|
Other
Financial Assets |
6,927,668,563 |
7,658,754,110 |
6,716,048,126 |
|
Other
Receivables |
12,041,173,412 |
10,428,086,319 |
2,572,505,080 |
|
Derivatives |
42,838,290 |
756,035,467 |
1,707,694,762 |
|
Inventories |
259,859,570,047 |
200,132,722,692 |
243,631,535,824 |
|
Other
Current Assets |
18,641,007,870 |
7,294,542,730 |
6,537,137,431 |
|
Non-Current Assets |
1,556,147,241,047 |
1,491,211,314,998 |
1,441,896,619,827 |
|
Non-Current
Financial Instruments |
4,000,000 |
6,000,000 |
6,000,000 |
|
Other Long-Term Receivables |
39,831,000,857 |
41,036,984,873 |
50,222,268,256 |
|
Marketable
Financial Instruments |
560,000,000 |
560,000,000 |
560,000,000 |
|
Tangibles |
1,215,310,582,733 |
1,198,961,456,707 |
1,187,781,725,798 |
|
Intangibles |
284,139,312,934 |
234,344,497,954 |
186,944,584,522 |
|
Investment_Subsidiaries |
5,829,056,152 |
5,829,056,152 |
5,829,056,152 |
|
Investment_Co-Subordinate
Companies |
10,200,000,000 |
10,200,000,000 |
10,200,000,000 |
|
Other
Non-Current Assets |
273,288,371 |
273,319,312 |
352,985,099 |
|
Total Liabilities |
1,379,380,778,403 |
1,350,614,215,755 |
1,321,781,281,181 |
|
Current Liabilities |
900,032,444,441 |
944,944,592,566 |
878,408,363,253 |
|
Trade Payables |
438,972,018,828 |
482,375,279,702 |
432,415,648,781 |
|
Account
Payables |
144,060,053,059 |
152,502,510,151 |
172,582,354,735 |
|
Short-Term
Borrowings |
190,118,821,875 |
181,967,721,200 |
153,224,546,132 |
|
Derivatives |
3,120,765,649 |
5,798,806,301 |
24,073,997 |
|
Other Long-Term Payables |
37,528,239,062 |
34,519,616,413 |
32,484,210,527 |
|
Provision
for Warrant |
50,233,476,591 |
53,153,294,239 |
56,861,221,537 |
|
Current
Portion of Long-Term Debts |
170,943,840 |
1,330,939,340 |
1,960,778,250 |
|
Other
Current Liabilities |
35,828,125,537 |
33,296,425,220 |
28,855,529,294 |
|
Non-Current Liabilities |
479,348,333,962 |
405,669,623,189 |
443,372,917,928 |
|
Long-Term
Borrowings |
70,000,000,000 |
12,500,000,000 |
37,500,000,000 |
|
Long-Term Account Payables |
2,585,217,971 |
5,507,071,099 |
12,612,613,877 |
|
Confirmed
Salaries |
295,539,788,461 |
279,609,199,761 |
292,005,725,485 |
|
Provision
for Severance & Retirement |
16,339,372,890 |
15,357,662,601 |
14,321,821,345 |
|
Provision
for Long-Term Warrant |
94,883,954,640 |
92,695,689,728 |
86,932,757,221 |
|
Capital Stock |
689,746,980,000 |
686,100,480,000 |
686,100,480,000 |
|
Capital
Surplus |
133,141,919,432 |
131,678,359,632 |
131,678,359,632 |
|
Others |
-361,610,000 |
-2,574,700,025 |
227,340,000 |
|
Profit
Surplus |
-32,249,423,646 |
4,965,820,653 |
-92,196,977,649 |
|
Total
Equity |
790,277,865,786 |
820,169,960,260 |
725,809,201,983 |
|
Liab.
& Shareholder’s Equity |
2,169,658,644,189 |
2,170,784,176,015 |
2,047,590,483,164 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2017~09/30/2017 |
As of 12/31/2016 |
As of 12/31/2015 |
|
Sales |
2,588,093,981,319 |
3,626,340,467,068 |
3,385,555,598,276 |
|
Cost of Sold Goods |
2,196,894,293,624 |
3,035,871,860,775 |
2,868,337,736,419 |
|
Gross Profit |
391,199,687,695 |
590,468,606,293 |
517,217,861,857 |
|
Selling & Admin. Expenses |
430,949,943,134 |
559,953,922,599 |
550,410,785,278 |
|
Operating Income |
-39,750,255,439 |
30,514,683,694 |
-33,192,923,421 |
|
Non-Operating Income |
23,647,188,937 |
57,806,492,679 |
31,829,987,950 |
|
Non-Operating Expenses |
19,881,892,343 |
38,569,094,169 |
29,824,657,210 |
|
Finance Income |
16,738,444,092 |
28,244,307,074 |
17,730,731,850 |
|
Finance Expenses |
17,960,081,668 |
21,226,581,459 |
45,202,319,058 |
|
Income Before Taxes |
-37,206,596,421 |
56,769,807,819 |
-58,659,179,889 |
|
Income Taxes Expenses |
|
|
|
|
Net Income |
-37,206,596,421 |
56,769,807,819 |
-58,659,179,889 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2017~09/30/2017 |
As of 12/31/2016 |
As of 12/31/2015 |
|
Operating
Activities Cash Flows |
29,749,711,946 |
245,616,556,539 |
204,142,602,828 |
|
Cash Flows from Operating |
30,163,827,528 |
246,601,797,348 |
204,031,272,016 |
|
Net Income |
-37,206,596,421 |
56,769,807,819 |
-58,659,179,889 |
|
Adjustment |
178,837,043,475 |
225,017,703,842 |
216,863,010,056 |
|
Changes in Asset/ & Liability |
-111,466,619,526 |
-35,185,714,313 |
45,827,441,849 |
|
Interests Received |
2,164,301,622 |
2,640,050,477 |
3,151,629,466 |
|
Interests Paid |
-2,584,417,204 |
-3,636,291,286 |
-3,520,527,415 |
|
Dividends Received |
6,000,000 |
11,000,000 |
480,228,761 |
|
Cash
Flows from Investing |
-202,215,253,868 |
-210,692,313,143 |
-227,988,944,953 |
|
Cash Inflow from Investing |
4,255,775,302 |
5,010,236,869 |
8,668,107,055 |
|
Cash Outflows for Investing |
-206,471,029,170 |
-215,702,550,012 |
-236,657,052,008 |
|
Cash
Flows from Financing |
67,894,046,347 |
6,959,882,274 |
67,528,400,147 |
|
Cash Inflows from Financing |
82,894,046,347 |
24,459,882,274 |
72,528,400,147 |
|
Cash Outflows from Financing |
-15,000,000,000 |
-17,500,000,000 |
-5,000,000,000 |
|
Increase/Decrease
in Cash |
-104,571,495,575 |
41,884,125,670 |
43,682,058,022 |
|
Cash at
the Beginning of Year |
234,657,416,084 |
192,773,290,414 |
149,091,232,392 |
|
Cash at
the End of Year |
130,085,920,509 |
234,657,416,084 |
192,773,290,414 |
Products, Technologies, Services Description
|
Main Products & Services |
SUV, SUT, Passenger Car, MPV Brand Name: TIVOLI, TIVOLI AIR, REXTON W, KORANDO C,
KORANDO SPORTS, KORANDO TURISMO, CHAIRMAN W |
Trade Partners & Competitors
|
Suppliers |
POSCO(174611-0000741) DAECHANG STEEL CO., LTD.(110111-0276116) DONG MYUNG STEEL CO., LTD.(161511-0006051) LG CHEM LTD.(110111-2207995) ERAE AUTOMOTIVE SYSTEMS CO., LTD.(110111-0384117) MANDO CORPORATION(131311-0140776) HYUNDAI DYMOS INC.(161411-0008562) AISIN DCAG |
|
Customers |
SOLLERS(EX. PUBLIC JOINT STOCK COMPANY
SEVERSTAL AUTO("SSA") : RUSSIA) |
|
Competitors |
GM DAEWOO AUTO & TECHNOLOGY COMPANY(120111-0294124) HYUNDAI MOTOR COMPANY(110111-0085450) KIA MOTORS CORPORATION(110111-0037998) |
Related Parties (Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
MAHINDRA VEHICLE MANUFACTURING LTD. MAHINDRA&MAHINDRA SOUTH AFRICA LTD. PININFARINA S.P.A. |
|
Joint Venture |
SY AUTO CAPITAL CO. LTD.(131311-0156591) (51.0% held by the subject company, 49.0%
held by KB CAPITAL CO,. LTD.(130111-0013499)) |
|
Subsidiary |
SSANGYONG EUROPEAN PARTS CENTER B.V. (100.0% held by the subject company) IABC 5253-5254, 4814RD BREDA, THE NEDERLAND SSANGYONG MOTOR CO., LTD.(CHINA) (100.0% held by the subject company) ROOM 1209 NO. 500 BINKE ROAD BAOSHUIQU WAIGAOQIAO SHANGHAI,
CHINA |
|
Corporate Ownership |
MAHINDRA & MAHINDRA LTD. |
|
Major Shareholders |
MAHINDRA & MAHINDRA LTD. |
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO., LTD(110111-0013328) -Technical support from DAIMLER AUTOMOTIVE LTD |
Sales by Region (Activity & Markets)
|
Sales/ Unit :Thousand KRW |
09/2017 |
2016 |
2015 |
|
Export |
549,321,870 |
1,073,311,377 |
885,063,296 |
|
Domestic |
2,038,772,111 |
2,553,029,090 |
2,500,492,302 |
|
Total |
2,588,093,981 |
3,626,340,467 |
3,385,555,598 |
The Subject exports
to Europe and China.
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
|
The Subject Company |
Federation of Korean Metal Workers Trade Unions |
Claim for Compensation from Damages |
2,207,600,000 |
Filed as of 12/17/2010 2nd round is proceeding. |
|
|
|
Lee Sang-Sik & Others(12) |
The Subject Company |
Salaries |
512,022,000 |
Filed as of 12/30/2013 3rd round is proceeding. |
There are 2 cases
filed as Plaintiff(s)/ Creditor(s)/ Applicant(s) amounting 2,258,000,000 KRW, and 14 cases filed as Defendant(s)/ Debtor(s)/
Respondent(s) amounting 3,921,000,000 KRW as of
09/30/2017.
News Clipping
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
|
KRW |
1 |
INR 0.059 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.