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|
MIRA
INFORM REPORT
|
Report No. : |
500099 |
|
Report Date : |
31.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
K.S. PERFECTION INDUSTRIES CO., LTD. |
|
|
|
|
Registered Office : |
39/89 Moo 2, Rama 2 Road, T. Bangkrachao, A. Muang, Samutsakorn
74000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
30.06.2017 |
|
|
|
|
Date of Incorporation : |
17.10.2001 |
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|
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Com. Reg. No.: |
0105544101379 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is
engaged in manufacturing various
kinds of fabrics
such as embroidery
fabric, lace, yarn
dyed, cotton, polyester,
rayon, printed fabric
and etc. |
|
|
|
|
No. of Employees : |
180 |
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 but correct |
|
|
|
|
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
K.S. PERFECTION INDUSTRIES CO., LTD.
[FORMER: K.S.S.
PERFECTION INDUSTRIES
CO., LTD.]
SUMMARY
BUSINESS ADDRESS : 39/89
MOO 2, RAMA
2 ROAD,
T. BANGKRACHAO, A. MUANG,
SAMUTSAKORN
74000, THAILAND
TELEPHONE : [66] 34
490-589-91
FAX : [66] 34
490-592
E-MAIL ADDRESS : atulgosavi@yahoo.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2001
REGISTRATION NO. : 0105544101379
TAX ID NO. : 3030383624
CAPITAL REGISTERED : BHT.
80,000,000
CAPITAL PAID-UP : BHT.
80,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : JUNE 30
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. PINDER PALSINGH
MADAN, THAI
MANAGING DIRECTOR
NO. OF STAFF : 180
LINES OF BUSINESS : FABRICS
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 October
17, 2001 as
a private limited
company under the
originally registered name “K.S
S. Perfection Industries
Co., Ltd.” by Thai
groups.
On September 19,
2011, its registered
name was changed
to K.S. PERFECTION
INDUSTRIES CO., LTD.
Its business objective
is to manufacture
and distribute various
kinds of fabrics
to both domestic
and international markets.
It currently employs
approximately 180 staff.
The subject’s registered
address was initially
at 14 Phohpanich
Road, Chakkrawad, Samphantawong, Bangkok
10100.
On February 3,
2014 the registered
address was relocated
to 39/89 Moo
2, Rama 2
Road, T. Bangkrachao,
A. Muang, Samutsakorn
74000, and this
is the subject’s
current operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Pinder Palsingh Madan |
|
Thai |
58 |
|
Mr. Kamolthip Madan |
|
Thai |
45 |
|
Mr. Seksan Madan |
|
Thai |
33 |
AUTHORIZED PERSON
Any of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Pinder Palsingh Madan
is the Managing
Director.
He is Thai
nationality with the
age of 58
years old.
Mr. Kamolthip Madan
is the General
Manager.
He is Thai
nationality with the
age of 45
years old.
Mr. Atul Gosavi
is the Sales
Director.
He is Indian
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
various kinds of
fabrics such as
embroidery fabric, lace,
yarn dyed, cotton,
polyester, rayon, printed
fabric and etc.
PURCHASE
Raw materials and machinery
are purchased from suppliers both domestic and
overseas, mainly in
India, Republic of
China, Austria, Japan
and Germany.
MAJOR SUPPLIER
Hammerle GmbH. :
Austria
SALES
The products are
sold and serviced
to customers both
local and overseas
in U.S.A., Hong Kong, Singapore, Japan,
India, Pakistan, Columbia, Malaysia, Indonesia, Philippines,
Bangladesh, Sri Lanka,
Brunei and the
country in Europe.
MAJOR CUSTOMERS
Marcus Brothers Textiles
Inc. : U.S.A.
Textiles Prestige
S.A.S. : Columbia
Robert Kaufman Inc. : U.S.A.
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
approximately 180 staff.
LOCATION DETAILS
The premise is
owned for administrative office
and factory at
the heading address.
Premise is located
in industrial area.
Branch:
13/1 Soi Sarapee
2, Isaraphap Road,
Somdejchaopraya, Klongsan, Bangkok
10600
COMMENT
The subject’s operating
performance as of June
30, 2017 was
strong with an
increase in sales
or service income
and another year of net profit.
The subject’s business
has continued growing from
high demand in
overseas markets.
FINANCIAL INFORMATION
The capital was registered at Bht. 10,000,000 divided
into 100,000 shares of
Bht. 100 each with
fully paid.
The capital was
increased later as
follows:
Bht. 40,000,000 on
December 30, 2004
Bht. 80,000,000 on
October 13, 2005
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 October 28,
2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Pinder Palsingh Madan Nationality: Thai Address : 13/1
Soi Sarapee 2,
Isarapharp Rd.,
Somdejchaopraya, Klongsan, Bangkok |
301,200 |
37.65 |
|
Mr. Kamolthip Madan Nationality: Thai Address : 70/1
Sukhumvit 20 Rd.,
Klongtoey, Bangkok |
200,800 |
25.10 |
|
Mrs. Stinder Parlgor Madan Nationality: Thai Address : 59/90
Sukhumvit 26 Rd.,
Klongton,
Klongtoey, Bangkok |
172,800 |
21.60 |
|
Mrs. Paveena Madan Nationality: Thai Address : 70/1
Sukhumvit 20 Rd.,
Klongtoey, Bangkok
|
115,200 |
14.40 |
|
Mr. Pisal Madan Nationality: Thai Address : 59/90
Sukhumvit 26 Rd.,
Klongton,
Klongtoey, Bangkok |
10,000 |
1.25 |
Total Shareholders : 5
Share Structure [as
at October 28,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
800,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
5 |
800,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Vichit Thanasarnsophon No. 7015
BALANCE SHEET [BAHT]
The latest financial
figures published for June
30, 2017, 2016
and 2015 were:
ASSETS
|
Current Assets |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
3,228,277.39 |
5,134,289.93 |
470,853.27 |
|
Trade Accounts and
Other Receivable |
195,211,190.98 |
244,865,875.80 |
226,056,314.22 |
|
Inventories |
213,623,254.35 |
180,037,802.99 |
17,696,899.72 |
|
Other Current Assets
|
37,371,894.16 |
30,130,569.72 |
7,217,035.20 |
|
|
|
|
|
|
Total Current Assets
|
449,434,616.88 |
460,168,538.44 |
251,441,102.41 |
|
Property, Plant and Equipment |
67,683,464.32 |
74,913,503.05 |
80,169,435.42 |
|
Other Non-current Assets |
1,741,890.00 |
1,328,096.63 |
304,250.00 |
|
Total Assets |
518,859,971.20 |
536,410,138.12 |
331,914,787.83 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Bank Overdraft and
Short-term Loan from Financial
Institution |
60,000,000.00 |
60,360,245.04 |
73,596,714.86 |
|
Trade Accounts and
Other Payable |
292,712,358.24 |
336,752,987.97 |
151,829,949.40 |
|
Current Portion of Long-term Liabilities |
106,296.00 |
106,296.00 |
106,296.00 |
|
Accrued Income Tax |
2,495,014.74 |
3,069,451.57 |
2,124,769.17 |
|
Other Current Liabilities |
324,569.01 |
225,258.53 |
141,655.29 |
|
|
|
|
|
|
Total Current Liabilities |
355,638,237.99 |
400,514,239.11 |
227,799,384.72 |
|
Long-term Loan |
28,100,000.00 |
18,723,605.10 |
8,570,000.00 |
|
Other Non-current Liabilities |
70,864.00 |
177,160.00 |
283,456.00 |
|
Total Liabilities |
383,809,101.99 |
419,415,004.21 |
236,652,840.72 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value Authorized and
issued 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 Earning - Unappropriated [Deficit] |
55,050,869.21 |
36,995,133.91 |
15,261,947.11 |
|
|
|
|
|
|
Total Shareholders' Equity |
135,050,869.21 |
116,995,133.91 |
95,261,947.11 |
|
Total Liabilities and Shareholders' Equity |
518,859,971.20 |
536,410,138.12 |
331,914,787.83 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Sales or Services Income |
738,411,905.97 |
661,852,892.73 |
316,134,791.26 |
|
Other Income |
10,840,032.47 |
1,653,693.84 |
7,583,167.65 |
|
Total Revenues |
749,251,938.44 |
663,506,586.57 |
323,717,958.91 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Sales
or Service |
688,191,151.91 |
591,032,361.78 |
277,645,529.52 |
|
Selling Expenses |
600,000.00 |
6,466,368.47 |
5,555,800.00 |
|
Administrative Expenses |
34,345,870.10 |
35,050,955.05 |
24,813,139.26 |
|
Total Expenses |
723,137,022.01 |
632,549,685.30 |
308,014,468.78 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost &
Income Tax |
26,114,916.43 |
30,956,901.27 |
15,703,490.13 |
|
Financial Cost |
[3,529,065.05] |
[3,778,892.81] |
[3,780,495.66] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
22,585,851.38 |
27,178,008.46 |
11,922,994.47 |
|
Income Tax |
[4,530,116.08] |
[5,444,821.66] |
[2,542,469.17] |
|
Net Profit / [Loss] |
18,055,735.30 |
21,733,186.80 |
9,380,525.30 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2017 |
2016 |
2015 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.26 |
1.15 |
1.10 |
|
QUICK RATIO |
TIMES |
0.56 |
0.62 |
0.99 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
10.91 |
8.83 |
3.94 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.42 |
1.23 |
0.95 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
113.30 |
111.18 |
23.26 |
|
INVENTORY TURNOVER |
TIMES |
3.22 |
3.28 |
15.69 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
96.49 |
135.04 |
261.00 |
|
RECEIVABLES TURNOVER |
TIMES |
3.78 |
2.70 |
1.40 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
155.25 |
207.97 |
199.60 |
|
CASH CONVERSION CYCLE |
DAYS |
54.55 |
38.26 |
84.66 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
93.20 |
89.30 |
87.83 |
|
SELLING & ADMINISTRATION |
% |
4.73 |
6.27 |
9.61 |
|
INTEREST |
% |
0.48 |
0.57 |
1.20 |
|
GROSS PROFIT MARGIN |
% |
8.27 |
10.95 |
14.57 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.54 |
4.68 |
4.97 |
|
NET PROFIT MARGIN |
% |
2.45 |
3.28 |
2.97 |
|
RETURN ON EQUITY |
% |
13.37 |
18.58 |
9.85 |
|
RETURN ON ASSET |
% |
3.48 |
4.05 |
2.83 |
|
EARNING PER SHARE |
BAHT |
22.57 |
27.17 |
11.73 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.74 |
0.78 |
0.71 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.84 |
3.58 |
2.48 |
|
TIME INTEREST EARNED |
TIMES |
7.40 |
8.19 |
4.15 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
11.57 |
109.36 |
|
|
OPERATING PROFIT |
% |
(15.64) |
97.13 |
|
|
NET PROFIT |
% |
(16.92) |
131.68 |
|
|
FIXED ASSETS |
% |
(9.65) |
(6.56) |
|
|
TOTAL ASSETS |
% |
(3.27) |
61.61 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is 11.57%. Turnover has increased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
8.27 |
Deteriorated |
Industrial Average |
39.67 |
|
Net Profit Margin |
2.45 |
Satisfactory |
Industrial Average |
2.56 |
|
Return on Assets |
3.48 |
Satisfactory |
Industrial Average |
3.90 |
|
Return on Equity |
13.37 |
Impressive |
Industrial Average |
9.47 |
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 8.27%. 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 2.45%.
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 3.48%.
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 13.37%, 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 |
1.26 |
Impressive |
Industrial Average |
1.02 |
|
Quick Ratio |
0.56 |
|
|
|
|
Cash Conversion Cycle |
54.55 |
|
|
|
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 1.26 times in 2017, increase from 1.15 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 0.56 times in 2017,
decrease from 0.62 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 55 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.74 |
Acceptable |
Industrial Average |
0.62 |
|
Debt to Equity Ratio |
2.84 |
Risky |
Industrial Average |
1.62 |
|
Times Interest Earned |
7.40 |
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 7.4 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 0.74 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
ACTIVITY RATIO
|
Fixed Assets Turnover |
10.91 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.42 |
Satisfactory |
Industrial Average |
1.53 |
|
Inventory Conversion Period |
113.30 |
|
|
|
|
Inventory Turnover |
3.22 |
Acceptable |
Industrial Average |
6.92 |
|
Receivables Conversion Period |
96.49 |
|
|
|
|
Receivables Turnover |
3.78 |
Satisfactory |
Industrial Average |
6.07 |
|
Payables Conversion Period |
155.25 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.78 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 111 days at the
end of 2016 to 113 days at the end of 2017. This represents a negative trend.
And Inventory turnover has decreased from 3.28 times in year 2016 to 3.22 times
in year 2017.
The company's Total Asset Turnover is calculated as 1.42 times and 1.23
times in 2017 and 2016 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 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
|
Thai Baht |
1 |
INR 2.09 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
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.