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MIRA
INFORM REPORT
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Report No. : |
499560 |
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Report Date : |
28.03.2018 |
IDENTIFICATION DETAILS
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Name : |
BETA WEAVING FACTORY CO., LTD. |
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Registered Office : |
53/3-7 Moo 5, Theparak Road,
T. Bangpleeyai, A. Bangplee, Samutprakarn 10540 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
22.10.1992 |
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Com. Reg. No.: |
0115535007721 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The subject is
engaged in manufacturing and
distributing wide range of
textiles such as
home textiles, technical
textiles and apparels
textiles. The products for
home textiles are upholstery, drapery fabric and decorative fabric. |
|
|
|
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No. of Employees : |
90 |
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 |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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
BETA WEAVING
FACTORY CO., LTD.
SUMMARY
BUSINESS ADDRESS : 53/3-7 MOO
5, THEPARAK ROAD, T.
BANGPLEEYAI, A. BANGPLEE, SAMUTPRAKARN 10540, THAILAND
TELEPHONE : [66] 2385-5090-1
FAX : [66] 2385-5957
E-MAIL ADDRESS : info@betaweaving.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1992
REGISTRATION NO. : 0115535007721
TAX ID NO. : 3271027127
CAPITAL REGISTERED : BHT.
80,000,000
CAPITAL PAID-UP : BHT. 80,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. DANAI SRICHAWLA,
THAI
MANAGING DIRECTOR
NO. OF STAFF : 90
LINES OF BUSINESS : TEXTILES
MANUFACTURER 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 October
22, 1992 as
a private limited
company under the registered name
BETA WEAVING FACTORY CO., LTD.,
by Thai groups, Srichawla family,
with the business
objective to manufacture
and supply wide
range of textiles
to domestic market. It
currently employs approximately
90 staff.
The subject’s registered
address is 53/3-7
Moo 5, Theparak Rd.,
T. Bangpleeyai,
A. Bangplee, Samutprakarn 10540,
and this is
the subject’s current
operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Danai Srichawla |
|
Thai |
56 |
|
Mr. Charan Srisawanchawla |
|
Thai |
85 |
AUTHORIZED PERSON
One of the
mentioned directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Danai Srichawla is
the Managing Director.
He is Thai
nationality with the
age of 56
years old.
Mr. Apisith Srichawla is
the Assistant Managing
Director & Marketing Manager.
He is Thai
nationality.
Mr. Vorapoj Kittipattanapong is
the Factory Manager.
He is Thai
nationality.
Mr. Ekasit Laokhajorn is
the Business Development
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and distributing wide range
of textiles such
as home textiles,
technical textiles and
apparels textiles. The
products for home textiles
are upholstery, drapery fabric
and decorative fabric.
PURCHASE
Most of raw
materials mainly cotton
yarn are purchased
from local suppliers,
the remaining is
imported from Korea,
Republic of China,
Indonesia, Hong Kong
and India.
MAJOR SUPPLIERS
Jong Stit Co.,
Ltd. : Thailand
Indorama Polyester
Industries Public Company Limited : Thailand
Itochu (Thailand) Co.,
Ltd. : Thailand
SALES
100% of the products
is sold and serviced
by wholesale to local
garment, furniture and
curtain production industries.
RELATED AND AFFILIATED
COMPANIES
Delta Weaving Factory
Co., Ltd.
Business Type :
Manufacturer of fabrics
Omega Weaving Factory
Co., Ltd.
Business Type :
Manufacturer of fabrics
Gramma Weaving Factory
Co., Ltd.
Business Type :
Manufacturer of fabrics
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
The Siam Commercial
Bank Public Company
Limited
EMPLOYMENT
The subject employs
approximately 90 staff.
LOCATION DETAILS
The premise is owned for
administrative office, factory
and warehouse at
the heading
address. Premise is
located in industrial
area.
COMMENT
The subject was
formed in 1992
as a manufacturer
and distributor of
textiles. The products have
been served to
industrial users such as
garment, home decorative
and furniture industries.
Subject performed well
in the past
several years, which
demand of the
products were strong.
However, its sales
or service income
in 2016 was
slightly dropped comparing
to the previous year, but it obtained
higher net profit.
Generally, the subject maintains a
moderate business with
sustainable profit.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 33,000,000 divided
into 330,000 shares
of
Bht. 100 each.
The capital was
increased later as
the followings:
Bht. 50,000,000
on August 5,
2003
Bht. 80,000,000
on February 23,
2004
The latest registered
capital was increased to
Bht. 80,000,000 divided into
800,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 29,
2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Veena Srichawla Nationality: Thai Address : 361/9
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
144,000 |
18.00 |
|
Mr. Apisith Srichawla Nationality: Thai Address : 361/2
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
120,000 |
15.00 |
|
Mr. Ekasith Srichawla Nationality: Thai Address : 361/10
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
120,000 |
15.00 |
|
Mrs. Anchalee Srichawla Nationality: Thai Address : 361/10
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
100,000 |
12.50 |
|
Mr. Surasak Srichawla Nationality: Thai Address : 361/10
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
100,000 |
12.50 |
|
Mr. Vorathep Srichawla Nationality: Thai Address : 361/5
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
80,000 |
10.00 |
|
Mrs. Premvadee Srichawla Nationality: Thai Address : 361/5
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
80,000 |
10.00 |
|
Mr. Charan Srisawanchawla Nationality: Thai Address : 361/2
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
40,000 |
5.00 |
|
Mr. Danai Srichawla Nationality: Thai Address : 361/2
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
16,000 |
2.00 |
Total Shareholders : 9
Share Structure [as
at April 29,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
9 |
800,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
9 |
800,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Lapasronaporn
Pruthivilasayamon No. 8580
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 |
885,642.61 |
823,772.96 |
680,785.80 |
|
Trade Accounts and
Other Receivable |
137,184,869.87 |
137,771,242.81 |
196,679,080.01 |
|
Inventories |
103,603,173.71 |
110,807,667.02 |
106,824,799.51 |
|
Other Current Assets |
797,834.83 |
106,472.53 |
- |
|
Total Current Assets
|
242,471,521.02 |
249,509,155.32 |
304,184,665.32 |
|
|
|
|
|
|
Fixed Deposit |
- |
- |
23,847,032.54 |
|
Other Long-term Investment |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
Long-term Loans |
137,659,954.24 |
134,000,000.00 |
89,300,000.00 |
|
Property, Plant and Equipment |
164,339,656.88 |
166,457,401.16 |
170,332,780.76 |
|
Other Non-current Assets |
31,167,088.27 |
28,516,075.00 |
1,808,292.45 |
|
Total Assets |
576,638,220.41 |
579,482,631.48 |
590,472,771.07 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and
Short-term Loan from Financial Institution |
330,086,877.31 |
331,964,005.74 |
325,608,261.80 |
|
Trade Accounts and
Other Payable |
40,252,629.06 |
49,411,930.02 |
73,119,520.28 |
|
Current Portion of
Long-term Loans |
- |
- |
1,639,000.00 |
|
Accrued Income Tax |
774,132.50 |
380,153.75 |
1,064,670.30 |
|
Other Current Liabilities |
697,651.77 |
562,757.14 |
- |
|
Total Current Liabilities |
371,811,290.64 |
382,318,846.65 |
401,431,452.46 |
|
|
|
|
|
|
Other Non-current Liabilities |
2,623,037.12 |
2,623,037.12 |
1,223,037.12 |
|
Total Liabilities |
374,434,327.76 |
384,941,883.77 |
402,654,489.58 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 800,000 shares |
80,000,000.00 |
80,000,000.00 |
80,000,000.00 |
|
Capital Paid |
80,000,000.00 |
80,000,000.00 |
80,000,000.00 |
|
Retained Earnings [Deficit] Appropriated statutory reserve |
182,732.36 |
182,732.36 |
182,732.36 |
|
Unappropriated |
122,021,160.29 |
114,358,015.35 |
107,635,549.13 |
|
Total Shareholders' Equity |
202,203,892.65 |
194,540,747.71 |
187,818,281.49 |
|
Total Liabilities and
Shareholders' Equity |
576,638,220.41 |
579,482,631.48 |
590,472,771.07 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
318,892,384.40 |
340,767,609.44 |
405,483,078.44 |
|
Other Income |
10,101,840.06 |
7,609,287.98 |
7,350,917.66 |
|
Total Revenues |
328,994,224.46 |
348,376,897.42 |
412,833,996.10 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
294,587,517.48 |
316,054,827.53 |
372,916,615.03 |
|
Selling Expenses |
1,845,967.70 |
1,732,037.00 |
1,937,336.50 |
|
Administrative Expenses |
7,333,673.97 |
6,827,856.22 |
5,920,219.16 |
|
Total Expenses |
303,767,159.15 |
324,614,720.75 |
380,774,170.69 |
|
Profit/[Loss] before Financial
Cost & Income Tax |
25,227,065.31 |
23,762,176.67 |
32,059,825.41 |
|
Financial Cost |
[15,647,284.97] |
[15,358,897.73] |
[16,888,833.06] |
|
Profit/[Loss] before Income
Tax |
9,579,780.34 |
8,403,278.94 |
15,170,992.35 |
|
Income Tax |
[1,916,635.40] |
[1,680,812.72] |
[3,034,199.69] |
|
Net Profit/[Loss] |
7,663,144.94 |
6,722,466.22 |
12,136,792.66 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.65 |
0.65 |
0.76 |
|
QUICK RATIO |
TIMES |
0.37 |
0.36 |
0.49 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.94 |
2.05 |
2.38 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.55 |
0.59 |
0.69 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
128.37 |
127.97 |
104.56 |
|
INVENTORY TURNOVER |
TIMES |
2.84 |
2.85 |
3.49 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
157.02 |
147.57 |
177.04 |
|
RECEIVABLES TURNOVER |
TIMES |
2.32 |
2.47 |
2.06 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
49.87 |
57.06 |
71.57 |
|
CASH CONVERSION CYCLE |
DAYS |
235.51 |
218.47 |
210.03 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
92.38 |
92.75 |
91.97 |
|
SELLING & ADMINISTRATION |
% |
2.88 |
2.51 |
1.94 |
|
INTEREST |
% |
4.91 |
4.51 |
4.17 |
|
GROSS PROFIT MARGIN |
% |
10.79 |
9.49 |
9.84 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.91 |
6.97 |
7.91 |
|
NET PROFIT MARGIN |
% |
2.40 |
1.97 |
2.99 |
|
RETURN ON EQUITY |
% |
3.79 |
3.46 |
6.46 |
|
RETURN ON ASSET |
% |
1.33 |
1.16 |
2.06 |
|
EARNING PER SHARE |
BAHT |
9.58 |
8.40 |
15.17 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.65 |
0.66 |
0.68 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.85 |
1.98 |
2.14 |
|
TIME INTEREST EARNED |
TIMES |
1.61 |
1.55 |
1.90 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(6.42) |
(15.96) |
|
|
OPERATING PROFIT |
% |
6.16 |
(25.88) |
|
|
NET PROFIT |
% |
13.99 |
(44.61) |
|
|
FIXED ASSETS |
% |
(1.27) |
(2.28) |
|
|
TOTAL ASSETS |
% |
(0.49) |
(1.86) |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is -6.42%. Turnover has decreased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
10.79 |
Impressive |
Industrial Average |
- |
|
Net Profit Margin |
2.40 |
Impressive |
Industrial Average |
1.63 |
|
Return on Assets |
1.33 |
Satisfactory |
Industrial Average |
1.53 |
|
Return on Equity |
3.79 |
Satisfactory |
Industrial Average |
3.96 |
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 10.79%. 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 2.4%,
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. When compared with the
industry average, it was lower, the company's figure is 1.33%.
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 3.79%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.65 |
Risky |
Industrial Average |
0.89 |
|
Quick Ratio |
0.37 |
|
|
|
|
Cash Conversion Cycle |
235.51 |
|
|
|
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 0.65 times in 2016, same
figure as in
2015, then the company may not be efficiently using its current assets.
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 0.37 times in 2016,
increase from 0.36 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 236 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.65 |
Acceptable |
Industrial Average |
0.58 |
|
Debt to Equity Ratio |
1.85 |
Risky |
Industrial Average |
1.39 |
|
Times Interest Earned |
1.61 |
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 1.62 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 0.65 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.94 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.55 |
Satisfactory |
Industrial Average |
0.94 |
|
Inventory Conversion Period |
128.37 |
|
|
|
|
Inventory Turnover |
2.84 |
Satisfactory |
Industrial Average |
3.59 |
|
Receivables Conversion Period |
157.02 |
|
|
|
|
Receivables Turnover |
2.32 |
Satisfactory |
Industrial Average |
4.10 |
|
Payables Conversion Period |
49.87 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.32 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 is 128 days at the end of 2015, same
number of days as in
2016. This represents a negative trend. And Inventory turnover has decreased
from 2.85 times in year 2015 to 2.84 times in year 2016.
The company's Total Asset Turnover is calculated as 0.55 times and 0.59
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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.80 |
|
|
1 |
INR 92.25 |
|
Euro |
1 |
INR 80.76 |
|
Thai Baht |
1 |
INR 2.08 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
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.