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|
|
MIRA INFORM REPORT
|
Report No. : |
486606 |
|
Report Date : |
19.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
THEPTHAI CHEMICAL CORP. LTD. |
|
|
|
|
Registered Office : |
21/573 Moo 12, Bangna-Trad Road, Bangna,
Bangkok 10260 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
24.01.1997 |
|
|
|
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Com. Reg. No.: |
0105540009141 |
|
|
|
|
Legal Form : |
Private Limited Company |
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|
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|
Line of Business : |
The subject is engaged in importing and distributing various kinds of industrial chemicals and food additive such as dipotassium phosphate, dicalcium phosphate, sodium tripolyphosphate, sodium hexameta phosphate, phosphoric acid, disodium phosphate dehydrate, tricalcium phosphate, monosodium phosphate monohydrate, trisodium phosphate, sodium acid pyrophosphate and others for various industries, such as food & beverage, animal feed, fertilizers, tires and other industries |
|
|
|
|
No. of Employees : |
32 |
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 |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 sustained strong growth and 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.
Growth has slowed in the last few years, however, due to domestic political turmoil and sluggish global demand. Nevertheless, 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, Thailand faces labor shortages, and
domestic debt levels, political uncertainty, and an aging population pose risks to growth.
|
Source
: CIA |
Company
name
THEPTHAI
CHEMICAL CORP. LTD.
SUMMARY
BUSINESS
ADDRESS : 21/573 MOO
12, BANGNA-TRAD ROAD,
BANGNA, BANGKOK
10260, THAILAND
TELEPHONE : [66] 2744-5131-6
FAX :
[66] 2744-5137
E-MAIL
ADDRESS : sales@thepthai.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1997
REGISTRATION
NO. : 0105540009141
TAX
ID NO. : 3011824252
CAPITAL REGISTERED : BHT. 12,000,000
CAPITAL PAID-UP : BHT.
12,000,000
SHAREHOLDER’S PROPORTION : THAI :
99.17%
CHINESE :
0.83%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
KAMOL THRAMSIRICHAROEN, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 32
LINES
OF BUSINESS : INDUSTRIAL CHEMICALS
IMPORTER AND
DISTRIBUTOR
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 January 24,
1997 as a private
limited company under
the originally registered
name “Quality Brick
(Northeastern Brilliant) Ltd.”,
by Thai and Chinese groups. On May 29, 1998,
its registered name
was changed to
THEPTHAI CHEMICAL CORP.
LTD. Its business
objective is to
import and distribute
wide range of
industrial chemicals. It
currently employs 32
staff.
The
subject’s registered address
is 21/573 Moo
12, Bangna-Trad Road,
Bangna,
Bangkok
10260, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Kamol Thramsiricharoen |
|
Thai |
48 |
|
Ms. Nirawan Thamsiricharoen |
|
Thai |
45 |
|
Ms. Nunthawan Thramsiricharoen |
|
Thai |
46 |
|
Mr. Chinumporn Thramsiricharoen |
|
Thai |
43 |
|
Mr. Suravit Thamsiricharoen |
|
Thai |
42 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Kamol Thramsiricharoen is
the Managing Director.
He is Thai nationality with
the age of 48 years
old.
Ms. Nunthawan Thramsiricharoen is
the Deputy Managing
Director / Accounting &
Finance Manager.
She is Thai
nationality with the
age of 46
years old.
Mr. Chinumporn Thramsiricharoen is the
Deputy Managing Director / Sales &
Marketing Manager.
He is Thai
nationality with the
age of 43 years
old.
BUSINESS OPERATIONS
The subject
is engaged in
importing and distributing
various kinds of industrial
chemicals and food
additive such as dipotassium phosphate,
dicalcium phosphate, sodium tripolyphosphate, sodium
hexameta phosphate, phosphoric
acid, disodium phosphate
dehydrate, tricalcium phosphate,
monosodium phosphate monohydrate,
trisodium phosphate, sodium acid
pyrophosphate and others
for various industries,
such as food
& beverage, animal feed,
fertilizers, tires and
other industries.
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas in
Republic of China,
India, Taiwan, Malaysia,
Singapore, Italy, France,
Japan and Germany.
SALES
100% of the
products is sold
locally by wholesale
to traders, manufacturers
and
end-users.
RELATED AND AFFILIATED
COMPANY
Thepthai Machinery Corp.
Ltd.
Business Type :
Importer and distributor
of industrial machinery
and tools
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.
BANKING
Bangkok
Bank Public Company
Limited
Kasikornbank
Public Company Limited
EMPLOYMENT
The
subject employs 32
staff.
LOCATION
DETAILS
The
premise is owned for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
Warehouse
is located at
21/865-9 Moo 12, Bangna-Trad Road,
Bangna, Bangkok 10260.
COMMENT
The
company imports and
distributes products for
local industrial users.
More than decade
of history and
quality awareness, backed
by high customers
recognition that meet
with the industries’ demand.
Despite
slow growth and
less expansion of
local industries, the
subject had a
moderate performance in
the previous year. Generally,
the subject’s business
remains moderately fair
and profitable.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 12,000,000
divided into 120,000
shares of Bht.
100
each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Four Resources International Ltd. Nationality: Thai Address : 21/865-9
Moo 12, Bangna-Trad Road,
Bangna, Bangkok
10260 |
24,000 |
20.00 |
|
Mr. Kamol Thramsiricharoen Nationality: Thai Address : 271-279
Banthadthong Road, Wangmai,
Pathumwan, Bangkok 10330 |
19,000 |
15.83 |
|
Ms. Nirawan Thamsiricharoen Nationality: Thai Address : 21/573
Moo 12, Bangna-Trad
Road, Bangna, Bangkok
10260 |
19,000 |
15.83 |
|
Ms. Nunthawan Thramsiricharoen Nationality: Thai Address : 21/865-9
Moo 12, Bangna-Trad Road,
Bangna, Bangkok
10260 |
19,000 |
15.83 |
|
Mr. Chinumporn Thramsiricharoen Nationality: Thai Address : 271-279
Banthadthong Road, Wangmai,
Pathumwan, Bangkok 10330
|
19,000 |
15.83 |
|
Mr. Suravit Thamsiricharoen Nationality: Thai Address : 50/10-52
Banthadthong Road, Wangmai,
Pathumwan, Bangkok 10330
|
19,000 |
15.83 |
|
Mr. Kao Pei-Yi Nationality: Chinese Address : Republic
of China |
1,000 |
0.85 |
Total Shareholders : 7
SHARE STRUCTURE [AS
AT APRIL 30,
2017]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
119,000 |
99.17 |
|
Foreign-Chinese |
1 |
1,000 |
0.83 |
|
Total |
7 |
120,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Pranee Niamsakul No.
0105
Financials
THEPTHAI CHEMICAL CORP.
LTD.
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 |
12,357,119.19 |
13,094,077.66 |
10,721,474.70 |
|
Short-term Investments |
- |
256,130.35 |
251,569.80 |
|
Trade Accounts and
Other Receivable |
26,202,623.14 |
28,021,573.97 |
40,339,739.98 |
|
Short-term Loans |
7,100,000.00 |
500,000.00 |
- |
|
Inventories |
5,630,473.31 |
5,969,177.37 |
5,159,997.47 |
|
Other Current Assets |
382,606.48 |
382,606.48 |
366,834.81 |
|
Total Current Assets
|
51,672,822.12 |
48,223,565.83 |
56,839,616.76 |
|
|
|
|
|
|
Property, Plant and Equipment |
4,790,343.99 |
3,798,599.84 |
3,151,896.28 |
|
Other Non-current Assets |
784,741.95 |
186,832.50 |
158,440.86 |
|
Total Assets |
57,247,908.06 |
52,208,998.17 |
60,149,953.90 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Trade Accounts and Other Payable |
17,722,294.53 |
15,952,218.54 |
22,906,158.61 |
|
Current Portion of Long-term Liabilities |
647,184.00 |
427,128.00 |
- |
|
Accrued Income Tax |
277,279.14 |
- |
77,626.74 |
|
Total Current Liabilities |
18,646,757.67 |
16,379,346.54 |
22,983,785.35 |
|
|
|
|
|
|
Long-term Loans |
- |
- |
1,000,000.00 |
|
Other Non-current Liabilities |
1,697,424.94 |
294,448.94 |
721,579.94 |
|
Total Liabilities |
20,344,182.61 |
16,673,795.48 |
24,705,365.29 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
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 Earning -Unappropriated [Deficit] |
24,903,725.45 |
23,535,202.69 |
23,444,588.61 |
|
Total Shareholders’ Equity |
36,903,725.45 |
35,535,202.69 |
35,444,588.61 |
|
Total Liabilities and
Shareholders’ Equity |
57,247,908.06 |
52,208,998.17 |
60,149,953.90 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
154,668,792.59 |
156,548,581.01 |
131,553,791.99 |
|
Other Income |
1,399,542.47 |
600,813.72 |
602,379.59 |
|
Total Revenues |
156,068,335.06 |
157,149,394.73 |
132,156,171.58 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
142,799,021.54 |
146,717,313.75 |
121,241,160.58 |
|
Selling Expenses |
3,638,464.63 |
1,939,340.24 |
2,726,519.53 |
|
Administrative Expenses |
7,535,472.30 |
7,929,975.89 |
7,257,322.09 |
|
Total Expenses |
153,972,958.47 |
156,586,629.88 |
131,225,002.20 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost & Income Tax |
2,095,376.59 |
562,764.85 |
931,169.38 |
|
Financial Cost |
[349,135.71] |
[327,825.67] |
[112,513.48] |
|
|
|
|
|
|
Profit /[Loss] before Income Tax |
1,746,240.88 |
234,939.18 |
818,655.90 |
|
Income Tax expenses |
[377,718.12] |
[144,325.10] |
[269,937.29] |
|
Net Profit / [Loss] |
1,368,522.76 |
90,614.08 |
548,718.61 |
THEPTHAI CHEMICAL
CORP. LTD.
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.77 |
2.94 |
2.47 |
|
QUICK RATIO |
TIMES |
2.45 |
2.56 |
2.23 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
32.29 |
41.21 |
41.74 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.70 |
3.00 |
2.19 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
14.39 |
14.85 |
15.53 |
|
INVENTORY TURNOVER |
TIMES |
25.36 |
24.58 |
23.50 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
61.84 |
65.33 |
111.92 |
|
RECEIVABLES TURNOVER |
TIMES |
5.90 |
5.59 |
3.26 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
45.30 |
39.69 |
68.96 |
|
CASH CONVERSION CYCLE |
DAYS |
30.93 |
40.50 |
58.50 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
92.33 |
93.72 |
92.16 |
|
SELLING & ADMINISTRATION |
% |
7.22 |
6.30 |
7.59 |
|
INTEREST |
% |
0.23 |
0.21 |
0.09 |
|
GROSS PROFIT MARGIN |
% |
8.58 |
6.66 |
8.30 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.35 |
0.36 |
0.71 |
|
NET PROFIT MARGIN |
% |
0.88 |
0.06 |
0.42 |
|
RETURN ON EQUITY |
% |
3.71 |
0.25 |
1.55 |
|
RETURN ON ASSET |
% |
2.39 |
0.17 |
0.91 |
|
EARNING PER SHARE |
BAHT |
11.40 |
0.76 |
4.57 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.36 |
0.32 |
0.41 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.55 |
0.47 |
0.70 |
|
TIME INTEREST EARNED |
TIMES |
6.00 |
1.72 |
8.28 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(1.20) |
19.00 |
|
|
OPERATING PROFIT |
% |
272.34 |
(39.56) |
|
|
NET PROFIT |
% |
1,410.28 |
(83.49) |
|
|
FIXED ASSETS |
% |
26.11 |
20.52 |
|
|
TOTAL ASSETS |
% |
9.65 |
(13.20) |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is -1.2%. Turnover has decreased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
8.58 |
Acceptable |
Industrial Average |
32.20 |
|
Net Profit Margin |
0.88 |
Deteriorated |
Industrial Average |
11.92 |
|
Return on Assets |
2.39 |
Acceptable |
Industrial Average |
7.64 |
|
Return on Equity |
3.71 |
Acceptable |
Industrial Average |
14.44 |
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. The company's figure is 8.58%. When
compared with the industry average, the ratio of the company was lower. This
indicated that company may have problems with control over its costs.
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. The company's figure is 0.88%.
When compared with the industry average, the ratio of the company was lower.
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 2.39%.
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 3.71%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
2.77 |
Impressive |
Industrial Average |
1.25 |
|
Quick Ratio |
2.45 |
|
|
|
|
Cash Conversion Cycle |
30.93 |
|
|
|
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 2.77 times in 2016, decrease from 2.94 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 2.45 times in 2016,
decrease from 2.56 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 31 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.36 |
Impressive |
Industrial Average |
0.46 |
|
Debt to Equity Ratio |
0.55 |
Impressive |
Industrial Average |
0.86 |
|
Times Interest Earned |
6.00 |
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 6.01 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 0.36 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 |
32.29 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
2.70 |
Impressive |
Industrial Average |
0.64 |
|
Inventory Conversion Period |
14.39 |
|
|
|
|
Inventory Turnover |
25.36 |
Impressive |
Industrial Average |
6.17 |
|
Receivables Conversion Period |
61.84 |
|
|
|
|
Receivables Turnover |
5.90 |
Impressive |
Industrial Average |
4.98 |
|
Payables Conversion Period |
45.30 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.90 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 15 days at the end of 2015 to 14
days at the end of 2016. This represents a positive trend. And Inventory
turnover has increased from 24.58 times in year 2015 to 25.36 times in year
2016.
The company's Total Asset Turnover is calculated as 2.7 times and 3
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 Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.84 |
|
|
1 |
INR 88.28 |
|
Euro |
1 |
INR 77.88 |
|
Thai baht |
1 |
INR 2.00 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SYL |
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.