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MIRA INFORM REPORT
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Report No. : |
493471 |
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Report Date : |
24.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
AUTOPACK COMPANY LIMITED |
|
|
|
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Registered Office : |
98/50-51 Moo 11, Phutthamonthon
Sai 5 Road, T. Raiking, A. Sampran, Nakhonpathom 73210 |
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Country : |
Thailand |
|
|
|
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Financials (as on) : |
31.12.2016 |
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|
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Date of Incorporation : |
08.07.1992 |
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Com. Reg. No.: |
0105535100306 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The subject is
engaged in manufacturing, assembling
and distributing various
industrial machineries such
as shrink packaging
machine, shrink film
wrapping machine, shrink
sleeving machine, automation
bundle wrappers, tray
packing machine and
others, under its
own brand “AUTOPACK”,
for pharmaceuticals, foods & beverage and
cosmetic industries. |
|
|
|
|
No. of Employees : |
102 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
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
|
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
AUTOPACK COMPANY LIMITED
SUMMARY
BUSINESS ADDRESS : 98/50-51 MOO
11, PHUTTHAMONTHON SAI
5
ROAD, T. RAIKING, A. SAMPRAN, NAKHONPATHOM 73210,
THAILAND
TELEPHONE : [66] 2001-8940
FAX : [66] 2001-8941
E-MAIL ADDRESS : sales-th@autopack.com
bb@autopack.com.au
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1992
REGISTRATION NO. : 0105535100306
TAX ID NO. : 3011063200
CAPITAL REGISTERED : BHT.
13,435,000
CAPITAL PAID-UP : BHT.
13,435,000
SHAREHOLDER’S PROPORTION : THAI :
33.40%
FOREIGN :
66.60%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. BOGUMIL BUDZYNOWSKI,
AUSTRALIAN
PRESIDENT
NO. OF STAFF : 102
LINES OF BUSINESS : INDUSTRIAL MACHINERY
MANUFACTURER, 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 July
8, 1992 as
a private limited
company under the originally
registered name “Pack
Technology Co., Ltd.”
by Thai and
Foreign groups.
On March 9,
2005, its registered name
was changed to
AUTOPACK COMPANY LIMITED.
Subject’s business objective is
to manufacture various industrial
machineries to both domestic and international markets. It
currently employs 102
staff.
The subject’s registered address
is 98/50-51 Moo 11,
Phutthamonthon Sai 5 Rd.,
T. Raiking, A.
Sampran, Nakhonpathom 73210,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Bogumil Budzynowski |
|
Australian |
72 |
|
Mr. Apiwat Yamassatien |
|
Thai |
66 |
|
Mr. Tan Geck Chung |
|
Singaporean |
77 |
|
Mr. Michel Nigrowski |
|
French |
44 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Bogumil Budzynowski is
the President.
He is Australian
nationality with the
age of 72
years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, assembling
and distributing various
industrial machineries such
as shrink packaging
machine, shrink film
wrapping machine, shrink
sleeving machine, automation
bundle wrappers, tray
packing machine and
others, under its
own brand “AUTOPACK”,
for pharmaceuticals, foods & beverage and
cosmetic industries.
PURCHASE
Raw materials, machine
parts and spare
parts are purchased
from suppliers both
domestic and overseas,
mainly in Australia,
Singapore, Taiwan, Japan
and
Republic of China.
MAJOR SUPPLIER
A.B. Autopack Pty.
Ltd. : Australia
SALES
The products are
sold to both
local and overseas
customers in Australia,
Japan, Vietnam, India,
Malaysia, Hong Kong, Singapore,
Indonesia, Philippines, U.S.A.
and Europe.
MAJOR CUSTOMERS
Tipco Food Public
Company Limited : Thailand
The Peace Canning
(1958) Co., Ltd. : Thailand
Universal Food Public
Company Limited : Thailand
Siam Food Public
Company Limited : Thailand
Thai Agri Foods
Public Company Limited :
Thailand
Tropical Food Industries
Co., Ltd. :
Thailand
Malee Sampran Public
Company Limited : Thailand
Yan Wal Yun
Co., Ltd. : Thailand
Pathum Vegetable Oil
Co., Ltd. :
Thailand
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
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Company Limited
Kasikornbank Public Company
Limited
EMPLOYMENT
The subject employs
102 office staff
and factory workers.
LOCATION DETAILS
The premise is
owned for administrative office,
factory and warehouse
at the heading
address. Premise is
located in provincial,
on the outskirts
of Bangkok.
COMMENT
The subject’s operating
performance in 2016
was slowdown from a
decrease in both
sales income and
net profit comparing
to the previous
year. Business growth
is rare due
to a slow
recovery, slow growth
and less expansion
of related industries
which contributed to
a decline in
consumption of industrial
machinery in the
past year. Nevertheless, the
subject operates a
moderate business and
remains profitable.
FINANCIAL INFORMATION
The capital was
registered at Bht. 3,000,000
divided into 30,000 shares of Bht. 100
each with fully
paid.
The capital was
increased later as
follows:
Bht. 12,000,000
on January 12,
2008
Bht. 13,435,000
on December 12,
2017
On December 14,
2017, its registered
capital was increased
to Bht. 13,435,000 divided
into 134,350 shares
of Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at December 12,
2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
A.B. Autopack Pty.
Ltd. Nationality: Australian Address : 4/26
Mouth Street, Sydney,
Australia |
40,620 |
30.23 |
|
Modular Compound Co.,
Ltd. Nationality: Thai Address : 50/86
Moo 5, Petchkasem
Rd., T. Raiking, A.
Sampran, Nakhonpathom |
25,920 |
19.29 |
|
Mr. G. C. Tan
(Tan Geck Chung) Nationality: Singaporean Address : 35 Serenade Walk,
575784, Singapore |
16,930 |
12.60 |
|
Mr. Banjerd Sap-aran Nationality: Thai Address : 1
Soi Chonburi-Banbung Rd.,
T. Banbung, A.
Banbung, Chonburi |
14,400 |
10.72 |
|
Mr. G. S. Tan (Tan
Geck Suan) Nationality: Singaporean Address : 37
Serenade Walk, 575784,
Singapore |
14,400 |
10.72 |
|
Nigrowgen Pte. Ltd. Nationality: Singaporean Address : 96
Robinson Road, # 11-04
SIF Building, 098899, Singapore |
12,000 |
8.93 |
|
Mr. Tan Boon Chye
Cecil Nationality: Singaporean Address : 35
Serenade Walk, 575784,
Singapore |
5,530 |
4.12 |
|
Mr. Apiwat Yamassatien Nationality: Thai Address : 190
Moo 14, T. Raiking,
A. Sampran, Nakornpathom |
4,550 |
3.39 |
Total Shareholders : 8
Share Structure [as
at December 12,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
44,870 |
33.40 |
|
Foreign |
5 |
89,480 |
66.60 |
|
Total |
8 |
134,350 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Dusit Dumrongthumwattana No.
6928
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 |
35,156,253.23 |
37,702,561.98 |
31,073,417.93 |
|
Short-term Investment |
50,532,090.84 |
52,492,933.98 |
55,409,250.00 |
|
Trade Accounts and
Other Receivable |
24,549,806.71 |
54,851,977.66 |
37,622,841.03 |
|
Inventories |
61,526,129.74 |
45,359,636.78 |
44,536,742.01 |
|
Other Current Assets |
7,133,231.32 |
8,111,367.60 |
1,815,210.74 |
|
Total Current Assets
|
178,897,511.84 |
198,518,478.00 |
170,457,461.71 |
|
|
|
|
|
|
Property, Plant and
Equipment |
25,063,178.10 |
20,925,412.81 |
8,949,657.12 |
|
Intangible Assets |
1,993,270.65 |
2,159,541.66 |
2,411,038.65 |
|
Other Non-current Assets |
445,933.64 |
440,110.29 |
440,110.29 |
|
Total Assets |
206,399,894.23 |
222,043,542.79 |
182,258,267.77 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Trade Accounts and Other
Payable |
25,727,649.72 |
25,752,827.56 |
24,497,103.70 |
|
Accrued Income Tax |
2,038,869.41 |
9,055,550.28 |
744,714.98 |
|
Other Current Liabilities |
22,263,552.44 |
19,136,013.72 |
15,134,540.85 |
|
Total Current Liabilities |
50,030,071.57 |
53,944,391.56 |
40,376,359.53 |
|
|
|
|
|
|
Provision for Employee Benefits |
5,449,703.12 |
4,612,992.25 |
384,485.01 |
|
Total Liabilities |
55,479,774.69 |
58,557,383.81 |
40,760,844.54 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, and
issued share capital
120,000 shares
|
12,000,000.00 |
12,000,000.00 |
12,000,000.00 |
|
Capital Paid |
12,000,000.00 |
12,000,000.00 |
12,000,000.00 |
|
Retained Earnings : [Deficit] Appropriated statutory
reserve |
1,200,000.00 |
1,200,000.00 |
1,200,000.00 |
|
Unappropriated |
137,720,119.54 |
150,286,158.95 |
128,297,423.23 |
|
Total Shareholders’ Equity |
150,920,119.54 |
163,486,158.95 |
141,497,423.23 |
|
Total Liabilities and
Shareholders’ Equity |
206,399,894.23 |
222,043,542.76 |
182,258,267.77 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
236,449,525.67 |
264,882,146.40 |
193,391,007.02 |
|
Other Income |
6,157,176.56 |
7,081,003.56 |
4,709,078.05 |
|
Total Revenues |
242,606,702.23 |
271,963,149.96 |
198,100,085.07 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
152,879,685.78 |
172,636,766.60 |
136,724,824.98 |
|
Selling Expenses |
30,511,435.25 |
24,236,223.38 |
20,979,858.57 |
|
Administrative Expenses |
24,735,319.66 |
22,023,086.01 |
21,660,798.30 |
|
Total Expenses |
208,126,440.69 |
218,896,075.99 |
179,365,481.85 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost and Income Tax |
34,480,261.54 |
53,067,073.97 |
18,734,603.22 |
|
Financial Cost |
- |
- |
- |
|
|
|
|
|
|
Profit /[Loss] before Income
Tax |
34,480,261.54 |
53,067,073.97 |
18,734,603.22 |
|
Income Tax |
[7,046,300.95] |
[11,078,338.25] |
[3,796,552.77] |
|
Net Profit / [Loss] |
27,433,960.59 |
41,988,735.72 |
14,938,050.45 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.58 |
3.68 |
4.22 |
|
QUICK RATIO |
TIMES |
2.20 |
2.69 |
3.07 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
9.43 |
12.66 |
21.61 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.15 |
1.19 |
1.06 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
146.89 |
95.90 |
118.90 |
|
INVENTORY TURNOVER |
TIMES |
2.48 |
3.81 |
3.07 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
37.90 |
75.58 |
71.01 |
|
RECEIVABLES TURNOVER |
TIMES |
9.63 |
4.83 |
5.14 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
61.42 |
54.45 |
65.40 |
|
CASH CONVERSION CYCLE |
DAYS |
123.37 |
117.04 |
124.51 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
64.66 |
65.17 |
70.70 |
|
SELLING & ADMINISTRATION |
% |
23.37 |
17.46 |
22.05 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
37.95 |
37.50 |
31.74 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
14.58 |
20.03 |
9.69 |
|
NET PROFIT MARGIN |
% |
11.60 |
15.85 |
7.72 |
|
RETURN ON EQUITY |
% |
18.18 |
25.68 |
10.56 |
|
RETURN ON ASSET |
% |
13.29 |
18.91 |
8.20 |
|
EARNING PER SHARE |
BAHT |
228.62 |
349.91 |
124.48 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.27 |
0.26 |
0.22 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.37 |
0.36 |
0.29 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(10.73) |
36.97 |
|
|
OPERATING PROFIT |
% |
(35.03) |
183.26 |
|
|
NET PROFIT |
% |
(34.66) |
181.09 |
|
|
FIXED ASSETS |
% |
19.77 |
133.81 |
|
|
TOTAL ASSETS |
% |
(7.05) |
21.83 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is
-10.73%. Turnover has decreased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
37.95 |
Impressive |
Industrial Average |
20.62 |
|
Net Profit Margin |
11.60 |
Impressive |
Industrial Average |
3.15 |
|
Return on Assets |
13.29 |
Impressive |
Industrial Average |
3.63 |
|
Return on Equity |
18.18 |
Impressive |
Industrial Average |
7.88 |
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 37.95%. 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 11.6%,
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 13.29%, 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 18.18%, 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 |
3.58 |
Impressive |
Industrial Average |
1.76 |
|
Quick Ratio |
2.20 |
|
|
|
|
Cash Conversion Cycle |
123.37 |
|
|
|
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 3.58 times in 2016, decrease from 3.68 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 2.2 times in 2016,
decrease from 2.69 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 124 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.27 |
Impressive |
Industrial Average |
0.53 |
|
Debt to Equity Ratio |
0.37 |
Impressive |
Industrial Average |
1.13 |
|
Times Interest Earned |
- |
|
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.27 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 Uptrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
9.43 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.15 |
Satisfactory |
Industrial Average |
1.15 |
|
Inventory Conversion Period |
146.89 |
|
|
|
|
Inventory Turnover |
2.48 |
Satisfactory |
Industrial Average |
3.04 |
|
Receivables Conversion Period |
37.90 |
|
|
|
|
Receivables Turnover |
9.63 |
Impressive |
Industrial Average |
4.06 |
|
Payables Conversion Period |
61.42 |
|
|
|
The company's Account Receivable Ratio is calculated as 9.63 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 increased from 96 days at the
end of 2015 to 147 days at the end of 2016. This represents a negative trend.
And Inventory turnover has decreased from 3.81 times in year 2015 to 2.48 times
in year 2016.
The company's Total Asset Turnover is calculated as 1.15 times and 1.19
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
|
Thai Baht |
1 |
INR 2.07 |
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.