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%20%20COMPANY%20%20LIMITED%20-%20495057%2007-Mar-2018_files/image002.jpg){kind=small}
%20%20COMPANY%20%20LIMITED%20-%20495057%2007-Mar-2018_files/image004.jpg)
%20%20COMPANY%20%20LIMITED%20-%20495057%2007-Mar-2018_files/image006.gif)
MIRA
INFORM REPORT
|
Report No. : |
495057 |
|
Report Date : |
07.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
STAR (THAILAND) COMPANY
LIMITED |
|
|
|
|
Registered Office : |
32/5-8 Moo 5, Tiwanon Road, T. Ban Mai, A. Pakkred, Nonthaburi 11120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
30.11.1983 |
|
|
|
|
Com. Reg. No.: |
0105526050211 |
|
|
|
|
Legal Form : |
120 |
|
|
|
|
Line of Business : |
The subject
is engaged in
marketing, distributing and
exporting various types
of air conditioners such as
floor & ceiling type, wall
type, duct type,
concealed type, cassette
type, and packaged
type, as well as
air curtain and
water cooled chillers., under the
brand STAR AIRE. |
|
|
|
|
No. of Employees : |
120 |
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 |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 and address
STAR (THAILAND)
COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 32/5-8 MOO
5, TIWANON ROAD,
T. BAN MAI,
A. PAKKRED, NONTHABURI
11120, THAILAND
TELEPHONE : [66] 2961-9620-6
FAX :
[66] 2961-9629
E-MAIL
ADDRESS : marketing@staraire.com
sales@staraire.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1983
REGISTRATION
NO. : 0105526050211
TAX
ID NO. : 3101277210
CAPITAL REGISTERED : BHT.
20,000,000
CAPITAL PAID-UP : BHT.
20,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. PAIRAT UECHOOYOS,
THAI
PRESIDENT
NO.
OF STAFF : 120
LINES
OF BUSINESS : AIR
CONDITIONERS
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 November 30,
1983 as a private
limited company under
the registered name
STAR (THAILAND) COMPANY LIMITED,
by Thai group, the
Uechooyos family, with
the business objective
to market and
distribute various types
of air conditioners
to both domestic
and overseas markets. It
currently employs approximately
120 staff.
The
subject’s registered address
is 32/5-8 Moo
5, Tiwanon Road,
T. Ban Mai,
A. Pakkred,
Nonthaburi 11120, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Pairat Uechooyos |
|
Thai |
66 |
|
Mrs. Pakamas Uechooyos |
|
Thai |
65 |
|
Ms. Benjawan Uechooyos |
|
Thai |
38 |
|
Mr. Vuttikrai Uechooyos |
|
Thai |
36 |
AUTHORIZED PERSON
Any of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Pairat Uechooyos is
the President.
He is Thai
nationality with the
age of 66
years old.
Mr. Vuttikrai Uechooyos is
the Vice President/ Sales & Marketing Manager.
He is Thai
nationality with the
age of 36
years old.
BUSINESS OPERATIONS
The subject
is engaged in
marketing, distributing and
exporting various types
of air conditioners
such as floor & ceiling type,
wall type, duct
type, concealed type,
cassette type, and
packaged type, as well
as air curtain
and water cooled
chillers., under the brand
STAR AIRE.
The subject
also provides after
sales services.
PURCHASE
100% of the
products is purchased
from local supplier.
MAJOR SUPPLIER
P.P.J.
Engineering Co., Ltd. : Thailand
SALES
60% of the products
is exported to
Taiwan, Hong Kong, Indonesia,
Republic of China,
Vietnam, Cambodia, Laos,
India, Middle East
and the rest 40%
is sold locally by
wholesale to dealers
and end-users.
ASSOCIATED COMPANY
P.P.J. Engineering Co.,
Ltd.
Business Type :
Manufacturer & distributor
of air conditioners
P.P.C. Intercooling Co.,
Ltd.
Business Type :
Manufacturer & distributor
of cooling system
& equipment
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 for 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.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Company
Limited
EMPLOYMENT
The
subject employs approximately
120 staff.
LOCATION
DETAILS
The
premise is owned for
administrative office at
the heading address.
Premise is located
in
provincial, on the
outskirts of Bangkok.
Branch
office/warehouse is located
at 32/36 Moo
5, Tiwanon Road,
T. Ban Mai, A. Pakkred,
Nonthaburi 11120.
COMMENT
The
subject’s operating performance
in 2016 has
seen an improvement
with an increase
in sales comparing
to the previous year. The
subject’s business is promising
and growing significantly
in line with a
demand of the products
commercial, housing and condominium projects in
local market.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 2,000,000 divided
into 20,000 shares
of Bht. 100
each
with fully paid.
On
October 21, 2002,
the registered capital
was increased to
Bht. 20,000,000 divided
into
200,000 shares of Bht.
100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Pakamas Uechooyos Nationality: Thai Address : 32/8
Moo 5, Tiwanon
Road, T. Ban Mai, A. Pakkred, Nonthaburi
|
99,250 |
49.62 |
|
Mr. Pairat Uechooyos Nationality: Thai Address : 32/8
Moo 5, Tiwanon
Road, T. Ban Mai, A.
Pakkred, Nonthaburi |
99,249 |
49.62 |
|
Ms. Benjawan Uechooyos Nationality: Thai Address : 32/8
Moo 5, Tiwanon
Road, T. Ban Mai, A.
Pakkred, Nonthaburi |
751 |
0.38 |
|
Mr. Vuttikrai Uechooyos Nationality: Thai Address : 32/8
Moo 5, Tiwanon
Road, T. Ban Mai, A.
Pakkred, Nonthaburi |
750 |
0.38 |
Total Shareholders : 4
Share Structure [as
at April 30,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
200,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
4 |
200,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Nida Chatchawanchokchai No.
4586
Financials
STAR
(THAILAND) COMPANY LIMITED
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 |
4,049,342.62 |
3,245,041.70 |
17,440,146.72 |
|
Trade Accounts and
Other Receivable |
221,241,303.65 |
199,044,125.75 |
204,032,780.07 |
|
Short-term Loans |
20,000,000.00 |
- |
60,000,000.00 |
|
Inventories |
570,927,916.95 |
363,761,973.26 |
227,018,126.66 |
|
Other Current Assets |
19,319,995.94 |
9,624,352.36 |
4,332,820.75 |
|
Total Current Assets
|
835,538,559.16 |
575,675,493.07 |
512,823,874.20 |
|
|
|
|
|
|
Property, Plant and
Equipment |
9,065,775.61 |
7,353,046.11 |
9,784,340.92 |
|
Other Non-current Assets |
6,000.00 |
6,000.00 |
653,525.00 |
|
Total Assets |
844,610,334.77 |
583,034,539.18 |
523,261,740.12 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and Short-term Loan From Financial Institutions |
360,677,656.52 |
279,000,000.00 |
300,000,000.00 |
|
Trade Accounts and Other Payable
|
370,107,364.38 |
191,129,114.63 |
137,172,161.09 |
|
Short-term Loan |
- |
13,200,000.00 |
- |
|
Other Current Liabilities |
1,876,237.13 |
1,467,615.46 |
1,648,430.43 |
|
Total Current Liabilities |
732,661,258.03 |
484,796,730.09 |
438,820,591.52 |
|
Total Liabilities |
732,661,258.03 |
484,796,730.09 |
438,820,591.52 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, and
issued share capital
200,000 shares
|
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
Capital Paid |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
Retained Earning -Unappropriated [Deficit] |
91,949,076.74 |
78,237,809.09 |
64,441,148.60 |
|
Total Shareholders’ Equity |
111,949,076.74 |
98,237,809.09 |
84,441,148.60 |
|
Total Liabilities and
Shareholders’ Equity |
844,610,337.77 |
583,034,539.18 |
523,261,740.12 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
790,352,587.55 |
778,257,841.77 |
838,668,610.11 |
|
Other Income |
1,847,443.57 |
1,562,289.10 |
2,071,510.15 |
|
Total Revenues |
792,200,031.12 |
779,820,130.87 |
840,740,120.26 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
710,129,130.76 |
700,872,682.01 |
773,607,981.44 |
|
Selling Expenses |
24,671,776.80 |
13,180,744.11 |
22,908,457.25 |
|
Administrative Expenses |
25,836,273.73 |
32,106,417.21 |
17,399,939.94 |
|
Total Expenses |
760,637,181.29 |
746,159,843.33 |
813,916,378.63 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost and Income Tax |
31,562,849.83 |
33,660,287.54 |
26,823,741.63 |
|
Financial Cost |
[13,857,404.39] |
[16,238,957.96] |
[9,980,546.29] |
|
|
|
|
|
|
Profit /[Loss] before Income
Tax |
17,705,445.44 |
17,421,329.58 |
16,843,195.34 |
|
Income Tax |
[3,994,177.79] |
[3,624,669.09] |
[3,483,400.07] |
|
Net Profit / [Loss] |
13,711,267.65 |
13,796,660.49 |
13,359,795.27 |
STAR
(THAILAND) COMPANY LIMITED
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.14 |
1.19 |
1.17 |
|
QUICK RATIO |
TIMES |
0.33 |
0.42 |
0.64 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
87.18 |
105.84 |
85.72 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.94 |
1.33 |
1.60 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
293.45 |
189.44 |
107.11 |
|
INVENTORY TURNOVER |
TIMES |
1.24 |
1.93 |
3.41 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
102.17 |
93.35 |
88.80 |
|
RECEIVABLES TURNOVER |
TIMES |
3.57 |
3.91 |
4.11 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
190.23 |
99.54 |
64.72 |
|
CASH CONVERSION CYCLE |
DAYS |
205.39 |
183.25 |
131.19 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
89.85 |
90.06 |
92.24 |
|
SELLING & ADMINISTRATION |
% |
6.39 |
5.82 |
4.81 |
|
INTEREST |
% |
1.75 |
2.09 |
1.19 |
|
GROSS PROFIT MARGIN |
% |
10.38 |
10.14 |
8.00 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.99 |
4.33 |
3.20 |
|
NET PROFIT MARGIN |
% |
1.73 |
1.77 |
1.59 |
|
RETURN ON EQUITY |
% |
12.25 |
14.04 |
15.82 |
|
RETURN ON ASSET |
% |
1.62 |
2.37 |
2.55 |
|
EARNING PER SHARE |
BAHT |
68.56 |
68.98 |
66.80 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.87 |
0.83 |
0.84 |
|
DEBT TO EQUITY RATIO |
TIMES |
6.54 |
4.93 |
5.20 |
|
TIME INTEREST EARNED |
TIMES |
2.28 |
2.07 |
2.69 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
1.55 |
(7.20) |
|
|
OPERATING PROFIT |
% |
(6.23) |
25.49 |
|
|
NET PROFIT |
% |
(0.62) |
3.27 |
|
|
FIXED ASSETS |
% |
23.29 |
(24.85) |
|
|
TOTAL ASSETS |
% |
44.86 |
11.42 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 1.55%. Turnover has increased from THB
PROFITABILITY :
ACCEPTABLE
%20%20COMPANY%20%20LIMITED%20-%20495057%2007-Mar-2018_files/image008.gif)
PROFITABILITY
RATIO
|
Gross Profit Margin |
10.38 |
Deteriorated |
Industrial
Average |
71.22 |
|
Net Profit Margin |
1.73 |
Satisfactory |
Industrial
Average |
3.02 |
|
Return on Assets |
1.62 |
Deteriorated |
Industrial
Average |
6.97 |
|
Return on Equity |
12.25 |
Satisfactory |
Industrial
Average |
17.82 |
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 10.38%. 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 1.73%.
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 1.62%.
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 12.25%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
%20%20COMPANY%20%20LIMITED%20-%20495057%2007-Mar-2018_files/image010.gif)
LIQUIDITY RATIO
|
Current Ratio |
1.14 |
Satisfactory |
Industrial
Average |
1.63 |
|
Quick Ratio |
0.33 |
|
|
|
|
Cash Conversion Cycle |
205.39 |
|
|
|
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 1.14 times in 2016, decrease from 1.19 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 0.33 times in 2016,
decrease from 0.42 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 206 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
%20%20COMPANY%20%20LIMITED%20-%20495057%2007-Mar-2018_files/image012.gif)
%20%20COMPANY%20%20LIMITED%20-%20495057%2007-Mar-2018_files/image014.gif)
LEVERAGE RATIO
|
Debt Ratio |
0.87 |
Acceptable |
Industrial
Average |
0.62 |
|
Debt to Equity Ratio |
6.54 |
Risky |
Industrial
Average |
1.62 |
|
Times Interest Earned |
2.28 |
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 2.28 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 0.87 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 Uptrend
Times Interest Earned Stable
ACTIVITY :
SATISFACTORY
%20%20COMPANY%20%20LIMITED%20-%20495057%2007-Mar-2018_files/image016.gif)
ACTIVITY RATIO
|
Fixed Assets Turnover |
87.18 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.94 |
Acceptable |
Industrial
Average |
2.31 |
|
Inventory Conversion Period |
293.45 |
|
|
|
|
Inventory Turnover |
1.24 |
Deteriorated |
Industrial
Average |
5.66 |
|
Receivables Conversion Period |
102.17 |
|
|
|
|
Receivables Turnover |
3.57 |
Satisfactory |
Industrial
Average |
4.88 |
|
Payables Conversion Period |
190.23 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.57 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 189 days at the
end of 2015 to 293 days at the end of 2016. This represents a negative trend.
And Inventory turnover has decreased from 1.93 times in year 2015 to 1.24 times
in year 2016.
The company's Total Asset Turnover is calculated as 0.94 times and 1.33
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 Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.99 |
|
|
1 |
INR 89.91 |
|
Euro |
1 |
INR 80.21 |
|
THB |
1 |
INR 2.07 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
KET |
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.