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MIRA
INFORM REPORT
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Report No. : |
498946 |
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Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
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Name : |
LO TING KUANG COMPANY LIMITED |
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Registered Office : |
298/64-65 Pisanuloke Road, Siyaek Mahanark, Dusit, Bangkok 10300 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
09.03.1992 |
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Com. Reg. No.: |
0105535041199 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The
subject is engaged
in manufacturing, distributing and
exporting various kinds
of bedding sets
and home finishing
products such as
mattress, bedspreads, pillow
cases, comforters, mattress
covers, pillow shams, linen sheet,
duvet, tick and
curtains under its
own brands “LOTUS”, “MIDAS” and “NICO”, as well
as the license brand “OMAZZ” from
U.S.A. |
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No. of Employees : |
250 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
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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 |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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 |
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Maximum Credit Limit : |
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Status : |
Moderate / Satisfactory / New Business / Small Company / Good /
Excellent / Not Registered in China / Offshore Company / No operating office
in Hong Kong |
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Payment Behaviour : |
Unknown / Slow but Correct / No Complaints / Regular / Slow |
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Litigation : |
Clear / 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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 |
ECONOMIC OVERVIEW
|
Source
: CIA |
Company
Nam And Address
LO TING KUANG
COMPANY LIMITED
Company SUMMARY
BUSINESS ADDRESS : 298/64-65 PISANULOKE
ROAD,
SIYAEK
MAHANARK, DUSIT,
BANGKOK 10300,
THAILAND
TELEPHONE : [66] 2281-4159,
2281-5896, 2623-2650-3
FAX : [66]
2281-3600, 2281-0317
E-MAIL ADDRESS : info@lotusbedding.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1992
REGISTRATION NO.
: 0105535041199 [Former: 4118/2535]
TAX ID NO. : 3011101063
CAPITAL
REGISTERED : BHT.
40,000,000
CAPITAL
PAID-UP : BHT.
40,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. KAMTHORN LOJANAGOSIN,
THAI
PRESIDENT AND
FACTORY MANAGER
NO. OF
STAFF : 250
LINES OF
BUSINESS : BEDDING SET
AND HOME FINISHING
PRODUCTS
MANUFACTURER, EXPORTER
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
March 9, 1992
as a private
limited company under
the registered name
LO TING KUANG COMPANY LIMITED
by Thai groups,
in order to
manufacture and distribute
various kinds of
bedding set and
home finishing products
to both domestic
and overseas markets.
It currently employs
approximately 250 staff.
The subject’s
registered address is
298/64-65 Pisanuloke Rd.,
Siyaek Mahanark, Dusit,
Bangkok 10300, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Kamthorn
Lojanagosin |
[x] |
Thai |
65 |
|
Mrs. Leena
Lojanagosin |
|
Thai |
65 |
AUTHORIZED PERSON
Only the
mentioned director [x] can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr.
Kamthorn Lojanagosin is
the President and
Factory Manager.
He is
Thai nationality with
the age of
65 years old.
Mrs.
Leena Lojanagosin is
the Managing Director.
She is
Thai nationality with
the age of
65 years old.
Mr.
Teepakorn Lojanagosin is
the Marketing Manager.
He is
Thai nationality.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting various kinds
of bedding sets
and home finishing
products such as
mattress, bedspreads, pillow
cases, comforters, mattress
covers, pillow shams, linen
sheet, duvet, tick
and curtains under
its own brands
“LOTUS”, “MIDAS” and “NICO”, as
well as
the license brand “OMAZZ” from
U.S.A.
PURCHASE
80% of
raw materials is
purchased from local
suppliers and agents.
IMPORT
20% of
raw materials and
fabrics are imported
from Singapore, Taiwan,
Hong Kong, India, Republic
of China, France,
United States of
America and Italy.
MAJOR SUPPLIERS
Lotus Mattress
Co., Ltd. :
Thailand
Bussakorn Printing
Co., Ltd. : Thailand
Porncharoen Printing
Co., Ltd. : Thailand
Latex International
Company : United States
of America
Omazz Co.,
Ltd. : United
States of America
SALES
80% of
the products is
sold locally to
wholesalers and through
Onnalin Co., Ltd.,
the subject’s related
company.
EXPORT
20% of
the products is
exported to Malaysia,
Taiwan, Indonesia, Singapore,
Korea, Japan, Republic of China,
Philippines, United States of America,
India, Hong Kong, Laos, Myanmar,
Cambodia, Vietnam and
Middle East countries.
ASSOCIATED COMPANIES
Onnalin Co.,
Ltd.
Business Type
: Distributor of
bedding set
Lotus Mattress
Co., Ltd.
Business Type
: Manufacturer of mattress products
Parin Production
Co., Ltd.
Business Type
: Operating of
multimedia service
De Hygienique
Co., Ltd.
Business Type
: Providing of
cleaning service
Omazz (Thailand)
Co., Ltd.
Business Type
: Manufacturer and distributor of
bedding products
Dermaster Co.,
Ltd.
Business Type
: Healthcare and
beauty service center
Plan
B Media Public Company
Limited
Business Type
: Media and
advertising service
Lotus Home
Design Co., Ltd.
Business Type :
Distributor of home
furniture products
Lotus Asset
Group Company Limited
Business Type
: Property developer
Leena Property
Co., Ltd.
Business Type
: Property developer
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 DATABASE
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.
Imports are
by T/T.
Exports are
against T/T.
BANKING
Kasikornbank Public
Company Limited
[Dusit
Branch : Rama V Rd., Dusit,
Bangkok]
Bangkok Bank
Public Company Limited
[Dusit
Branch : Rama V Rd.,
Dusit, Bangkok]
EMPLOYMENT
The subject
employs approximately 250
staff.
LOCATION DETAILS
The premise
is owned for
administrative office and
showroom at the
heading address. Premise
is located in
industrial area.
Factory and
warehouse are located
at 90 Moo
10, Budhamonthon Sai
5 Rd.,
T.
Raikhing, A. Sampran, Nakornpathom 73210.
Tel.:
[66] 2420-4595 Fax.: [66]
2810-2655
The factory
is shared with
Lotus Mattress Co.,
Ltd.
COMMENT
The company’s
products are for middle
to high-end market
which competition is intensify from imported
products. There are
many players in
the same business
line as well
as prices are
the strategy to
capture the market
share. The products
under the brand “Lotus”
are found in general, e.g. hypermarket
and department store,
while the license brand “Omazz” can
be found at only
leading department store
due to this
brand is especially
for high-end market.
Despite a
slightly decrease in
sales or service
income and net profit
in 2016 comparing
to the previous
year, its business
remains moderately fair
and profitable.
FINANCIAL INFORMATION
The capital
was initially registered
at Bht. 1,000,000
divided into 10,000
shares of
Bht.
100 each.
The capital
was increased later
as following:
Bht. 10,000,000
on December 24,
1996
Bht. 40,000,000
on November 8,
2004
The latest
registered capital was
increased to Bht. 40,000,000 divided into
400,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE :
[as at May
30, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Kamthorn
Lojanagosin Nationality:
Thai Address
: 298/64-65 Pisanuloke
Rd., Siyaek Mahanark,
Dusit, Bangkok |
220,000 |
55.00 |
|
Mrs. Leena
Lojanagosin Nationality:
Thai Address
: 298/64-65 Pisanuloke
Rd., Siyaek Mahanark,
Dusit, Bangkok |
160,000 |
40.00 |
|
Mr. Teepakorn
Lojanagosin Nationality:
Thai Address
: 298/64-65 Pisanuloke
Rd., Siyaek Mahanark,
Dusit, Bangkok |
8,000 |
2.00 |
|
Ms. Onnalin
Lojanagosin Nationality:
Thai Address
: 298/64-65 Pisanuloke
Rd., Siyaek Mahanark,
Dusit, Bangkok |
8,000 |
2.00 |
|
Ms. Ratana
Arunsirichoke Nationality:
Thai Address :
1767 Moo 6,
T. Taibanmai, A. Muang,
Samutprakarn |
4,000 |
1.00 |
Total Shareholders
: 5
Share Structure
[as at May
30, 2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
400,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
5 |
400,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Col.
Mukda Udomsak No.
4260
Financials
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 |
13,087,413.73 |
3,897,103.66 |
9,337,347.62 |
|
Trade Account
and Other Receivable |
109,089,558.64 |
119,042,718.76 |
21,229,665.83 |
|
Inventories |
96,915,764.04 |
65,948,522.00 |
45,006,674.00 |
|
Other Current Assets |
5,882,695.40 |
6,431,246.75 |
2,194,289.25 |
|
|
|
|
|
|
Total
Current Assets |
224,975,431.81 |
195,319,591.17 |
77,767,976.70 |
|
Property, Plant and Equipment |
186,893,366.17 |
115,444,914.64 |
57,390,983.34 |
|
Intangible Assets |
3,888,350.59 |
2,690,279.72 |
1,944,195.36 |
|
Total
Assets |
415,757,148.57 |
313,454,785.53 |
137,103,155.40 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Trade Account
and Other Payable |
106,500,232.96 |
97,991,933.62 |
12,327,620.97 |
|
Promissory Note |
- |
104,000,000.00 |
9,000,000.00 |
|
Current Portion of
Hire-purchase Payable |
3,763,583.12 |
2,541,396.81 |
3,546,583.19 |
|
Accrued Income Tax |
1,866,990.08 |
2,138,504.60 |
1,901,092.35 |
|
Other
Current Liabilities |
123,000,000.00 |
- |
- |
|
|
|
|
|
|
Total Current Liabilities |
235,130,806.16 |
206,671,835.03 |
26,775,296.51 |
|
Long-term Loans
from Financial Institutions |
81,315,357.00 |
22,746,000.00 |
31,554,000.00 |
|
Loan Related
Person |
- |
- |
7,146,000.00 |
|
Long-term Hire-purchase Payable |
- |
1,584,139.61 |
4,125,536.44 |
|
Other
Non-current Liabilities |
2,754,781.75 |
- |
- |
|
Total
Liabilities |
319,200,944.91 |
231,001,974.64 |
69,600,832.95 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value
authorized, issued and
fully paid share
capital 400,000 shares
|
40,000,000.00 |
40,000,000.00 |
40,000,000.00 |
|
|
|
|
|
|
Capital
Paid |
40,000,000.00 |
40,000,000.00 |
40,000,000.00 |
|
Retained Earning - Unappropriated [Deficit] |
56,556,203.66 |
42,452,810.89 |
27,502,322.45 |
|
Total
Shareholders' Equity |
96,556,203.66 |
82,452,810.89 |
67,502,322.45 |
|
Total
Liabilities and Shareholders' Equity |
415,757,148.57 |
313,454,785.53 |
137,103,155.40 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or
Services Income |
592,229,065.83 |
593,183,076.11 |
570,528,606.49 |
|
Export
Income |
- |
21,320,734.97 |
23,456,521.05 |
|
Interest Income |
1,772.20 |
3,517.37 |
- |
|
Other Income |
70,079.70 |
8,406.20 |
- |
|
Total
Revenues |
592,300,917.73 |
614,515,734.65 |
593,985,127.54 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
519,826,866.70 |
535,461,361.34 |
529,690,383.50 |
|
Selling
Expenses |
36,159,719.30 |
40,709,220.41 |
36,118,049.66 |
|
Administrative
Expenses |
10,272,917.00 |
11,939,137.70 |
8,315,322.25 |
|
Total Expenses
|
566,259,503.00 |
588,109,719.45 |
574,123,755.41 |
|
|
|
|
|
|
Profit / [Loss]
before Financial Cost &
Income Tax |
26,041,414.73 |
26,406,015.20 |
19,861,372.13 |
|
Financial Cost |
[8,139,349.64] |
[7,522,854.80] |
[6,567,833.58] |
|
Income Tax |
[3,798,672.32] |
[3,932,671.96] |
[2,854,092.35] |
|
Net Profit / [Loss]
|
14,103,392.77 |
14,950,488.44 |
10,439,446.20 |
LO TING KUANG
COMPANY LIMITED
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.96 |
0.95 |
2.90 |
|
QUICK RATIO |
TIMES |
0.52 |
0.59 |
1.14 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.17 |
5.32 |
10.35 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.42 |
1.96 |
4.33 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
68.05 |
44.95 |
31.01 |
|
INVENTORY TURNOVER |
TIMES |
5.36 |
8.12 |
11.77 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
67.23 |
70.71 |
13.05 |
|
RECEIVABLES TURNOVER |
TIMES |
5.43 |
5.16 |
27.98 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
74.78 |
66.80 |
8.49 |
|
CASH CONVERSION CYCLE |
DAYS |
60.50 |
48.87 |
35.56 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
87.77 |
87.14 |
89.18 |
|
SELLING & ADMINISTRATION |
% |
7.84 |
8.57 |
7.48 |
|
INTEREST |
% |
1.37 |
1.22 |
1.11 |
|
GROSS PROFIT MARGIN |
% |
12.24 |
12.86 |
10.82 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.40 |
4.30 |
3.34 |
|
NET PROFIT MARGIN |
% |
2.38 |
2.43 |
1.76 |
|
RETURN ON EQUITY |
% |
14.61 |
18.13 |
15.47 |
|
RETURN ON ASSET |
% |
3.39 |
4.77 |
7.61 |
|
EARNING PER SHARE |
BAHT |
35.26 |
37.38 |
26.10 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.77 |
0.74 |
0.51 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.31 |
2.80 |
1.03 |
|
TIME INTEREST EARNED |
TIMES |
3.20 |
3.51 |
3.02 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(3.62) |
3.45 |
|
|
OPERATING PROFIT |
% |
(1.38) |
32.95 |
|
|
NET PROFIT |
% |
(5.67) |
43.21 |
|
|
FIXED ASSETS |
% |
61.89 |
101.16 |
|
|
TOTAL ASSETS |
% |
32.64 |
128.63 |
|
ANNUAL
GROWTH : ACCEPTABLE
An
annual sales growth is -3.62%. Turnover has decreased from THB
PROFITABILITY
: IMPRESSIVE
PROFITABILITY RATIO
|
Gross Profit Margin |
12.24 |
Impressive |
Industrial Average |
- |
|
Net Profit Margin |
2.38 |
Satisfactory |
Industrial Average |
3.26 |
|
Return on Assets |
3.39 |
Satisfactory |
Industrial Average |
3.55 |
|
Return on Equity |
14.61 |
Impressive |
Industrial Average |
9.21 |
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 12.24%. 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. The company's figure is 2.38%. 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 3.39%.
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. Return on Equity ratio is 14.61%, 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
: RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.96 |
Risky |
Industrial Average |
1.21 |
|
Quick Ratio |
0.52 |
|
|
|
|
Cash Conversion Cycle |
60.50 |
|
|
|
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 0.96
times in 2016, increase from 0.95 times, then the company may have problems
meeting its short-term obligations. 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 0.52 times in 2016, decrease from
0.59 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 61 days.
Trend
of the average competitors in the same industry for last 5 years
Current
Ratio Downtrend
LEVERAGE
: ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.77 |
Acceptable |
Industrial Average |
0.64 |
|
Debt to Equity Ratio |
3.31 |
Risky |
Industrial Average |
1.81 |
|
Times Interest Earned |
3.20 |
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 3.2 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 0.77 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 Downtrend
Times
Interest Earned Stable
ACTIVITY
: IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.17 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.42 |
Impressive |
Industrial Average |
1.09 |
|
Inventory Conversion Period |
68.05 |
|
|
|
|
Inventory Turnover |
5.36 |
Satisfactory |
Industrial Average |
5.48 |
|
Receivables Conversion Period |
67.23 |
|
|
|
|
Receivables Turnover |
5.43 |
Impressive |
Industrial Average |
3.27 |
|
Payables Conversion Period |
74.78 |
|
|
|
The
company's Account Receivable Ratio is calculated as 5.43 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 45 days at the end of 2015 to 68 days at the end of
2016. This represents a negative trend. And Inventory turnover has decreased
from 8.12 times in year 2015 to 5.36 times in year 2016.
The
company's Total Asset Turnover is calculated as 1.42 times and 1.96 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 65.23 |
|
|
1 |
INR 91.95 |
|
Euro |
1 |
INR 80.34 |
|
|
1 |
INR |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
|
|
|
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|
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.