MIRA
INFORM REPORT
|
Report Date : |
17.05.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
PERMSIN
STEEL WORKS PUBLIC
COMPANY LIMITED |
|
|
|
|
Registered Office : |
4, 95-96
Moo 6, Rama
2 Road, T. Kokkham, A. Muang, Samutsakorn
74000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
22.10.1989 |
|
|
|
|
Com. Reg. No.: |
0107548000196 |
|
|
|
|
Legal Form : |
Public
Limited Company |
|
|
|
|
Line of Business : |
Steels transforms and distributes
products & service |
|
|
|
|
No. of Employees : |
190 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
PERMSIN STEEL WORKS PUBLIC COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 4, 95-96 MOO
6, RAMA 2
ROAD, T. KOKKHAM,
A. MUANG, SAMUTSAKORN
74000, THAILAND
TELEPHONE : [66] 34
825-090-100
FAX : [66] 34
825-078-9
E-MAIL
ADDRESS : contact@permsin.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1989
REGISTRATION
NO. : 0107548000196 [Former
: 0105532100950]
TAX
ID NO. : 3101772029
CAPITAL REGISTERED : BHT. 500,000,000
CAPITAL PAID-UP : BHT.
500,000,000
SHAREHOLDER’S PROPORTION : THAI :
99.86%
FOREIGN :
0.14%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PUBLIC LIMITED
COMPANY
EXECUTIVE : MR. CHUKIAT YONGVONGPAIBUL, THAI
PRESIDENT AND
CHIEF EXECUTIVE OFFICER
NO.
OF STAFF : 190
LINES
OF BUSINESS : STEELS
TRANSFORMS AND
DISTRIBUTES PRODUCTS &
SERVICE
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The subject
was established on October
22, 1989 as a
private limited company
under the originally
registered name “Permsin
Steel Works Company
Limited”, by Thai groups,
with the business
objective to import and
distribute cold rolled
steels and electro-galvanized steels,
as well as
transform and distribute
roll forming metal
sheets and steel
roof structure products for
domestic industry and
construction.
On
March 23, 2005,
its status was
converted to a
public limited company
under the name
PERMSIN STEEL WORKS
PUBLIC COMPANY LIMITED
and was listed
on the Stock
Exchange of Thailand [SET] on
July 24, 2005.
It currently employs
approximate 190 staff.
It
has achieved the standard
ISO 9001 : 2008
certification for steel
transforming and steel roof
structure producing from UKAS/
URS by Global Certificate Service
Limited and Thai
Industrial standards.
The
subject’s registered address
is 4, 95-86 Rama
2 Rd., T.
Kokkham, A. Muang,
Samutsakorn 74000, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Chukiat Yongvongpaibul |
[x] |
Thai |
47 |
|
Mrs. Chamaiporn Yongvongpaibul |
[x] |
Thai |
47 |
|
Mr. Singhanart Batsomboon |
[x] |
Thai |
43 |
|
Mr. Choocheep Yongvongpaibul |
[x] |
Thai |
46 |
|
Mr. Krit Suteerachai |
|
Thai |
31 |
|
Gen. Montri Supaporn |
|
Thai |
66 |
|
Pol. Maj. Gen. Sahaschai
Indrasukhsri |
|
Thai |
63 |
|
Mr. Khan Akaworawit |
|
Thai |
51 |
|
Pol. Maj. Gen. Jitti
Rodbangyang |
|
Thai |
53 |
|
Mr. Vacharin Duangdara |
|
Thai |
53 |
AUTHORIZED PERSON
Any two of
the mentioned directors
[x] can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Chukiat Yongvongpaibul is
the President and
Chief Executive Officer.
He is Thai
nationality with the
age 47 years
old.
Mrs. Chamaiporn Yongvongpaibul is
the Chief Finance
Officer.
She is Thai
nationality with the
age 47 years
old.
Mr. Choocheep Yongvongpaibul is
the Chief Operation
Manager.
He is Thai
nationality with the
age 46 years
old.
Mr. Singhanart Batsomboon is
the Chief Marketing
Officer.
He is Thai
nationality with the
age 43 years
old.
Ms. Khanittha Promprai is
the Finance & Accounting Manager.
She is Thai
nationality.
Mr. Pattaraphon Batsomboon is
the Production Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
importing, transforming and
distributing various kinds
of steel products
for various industries,
such as construction,
steel furniture, electric
appliances, automobile, steel
pipes and etc.
Range of products
and services are
as follows:
·
Cold rolled
steel [prime grade cold
rolled steel/ second grade
cold rolled steel]
·
Electro-galvanized steel
·
“SUNTECH” Roll
forming metal sheet
·
C-line, C-U,
T-bar
·
C-channel galvanized
high tensile strength
·
Hot rolled
steel
·
Distributes of
“SMARTRUSS” steel roof
structures
PRODUCTION CAPACITY
Cold Rolled Coil : 1,500,000
tons per annum
Roll Forming Metal
Sheet : 3,000,000
square meters per
annum
C-Line, C-U and
T-Bar : 10,000,000
units per annum
C-Channel Galvanized High
Tensile Strength : 12,000
tons per annum
Electro Galvanized Steel : 6,000 tons
per annum
Hot Rolled Steel : 6,000 tons
per annum
PURCHASE
Most
of the products
are purchased from
local supplier, the
remaining is imported
from Canada and Taiwan.
MAJOR
SUPPLIERS
Thai Steel Sales
Co., Ltd. : Thailand
Blue Scope Steel [Thailand] Co.,
Ltd. : Thailand
SALES
100% of the
products is sold
locally by wholesale
to dealers, manufacturers
and
end-users.
REVENUE STRUCTURE [Company
and Subsidiary]
|
|
2011 |
2010 |
||
|
Products |
Amount ( million baht ) |
% |
Amount ( million baht ) |
% |
|
|
|
|
|
|
|
Cold Rolled Steel |
959,164.85 |
20.34 |
960,428.27 |
28.66 |
|
Hot Rolled Steel |
2,548,706.98 |
54.04 |
1,693,359.81 |
50.53 |
|
Electro-Galvanized Steel |
865,447.58 |
18.35 |
441,336.86 |
13.17 |
|
C-Channel Galvanized High - Tensile Strength |
5,991.03 |
0.13 |
6,805.64 |
0.20 |
|
Steel Structure and
Panel |
50,056.00 |
1.06 |
30,255.93 |
0.90 |
|
Roof and Panel
Coated Sheets |
243,000.60 |
5.15 |
161,661.57 |
4.82 |
|
Service Income |
15,969.95 |
0.34 |
18,053.39 |
0.54 |
|
Other Income |
28,026.31 |
0.54 |
39,541.40 |
1.18 |
|
|
|
|
|
|
|
Total Revenue |
4,716,363.45 |
100.00 |
3,351,442.87 |
100.00 |
SUBSIDIARY AND AFFILIATED
COMPANY
S.C. Steel Work
Co., Ltd.
Business Type :
Installation service of
metal roofing and
walling sheets.
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
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 on negotiated
terms.
BANKING
Bangkok
Bank Public Co.,
Ltd.
The
Siam Commercial Bank
Public Co., Ltd.
Kasikornbank
Public Co., Ltd.
EMPLOYMENT
The
subject employs approximately
190 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is
located in provincial,
on the outskirts
of Bangkok.
Factories :
-
222 Moo 6, T.
Mae-Rampueng, A. Bangsaphan, Prachaubkirikan 74000.
-
108/9
Moo 1, Rama
2 Rd., T. Bangnumjued, A. Muang,
Samutsakorn 74000.
-
108/3
Moo 1, Rama
2 Rd., T. Bangnumjued, A. Muang,
Samutsakorn 74000.
-
55/93
Moo 9, Rama 2 Rd.,
Bangmod, Jomthong, Bangkok
10150.
-
90/9
Moo 1, Rama
2 Rd., T. Bangnumjued, A. Muang,
Samutsakorn 74000.
COMMENT
The
subject is importing, transforming
and distributing various
kinds of steel
products. Its business
performance in 2011
had outstanding improved with
increasing sales compared to
the previous year.
Economy improvement since
2010 has resulted
to improve demand of
steel products in local
market. Despite massive
floods in the
last quarter of 2011
which was diluted
demand of steel products,
subject still has strong
growth after floods
relief.
FINANCIAL INFORMATION
The capital
was registered at
Bht. 6,000,000 divided into 60,000
shares of Bht. 100
each with fully
paid.
The
capital was increased
later as follows:
Bht. 100,000,000
on July 19,
2004
Bht. 300,000,000
on November 19,
2004
Bht. 400,000,000
on January 27,
2005
Bht. 500,000,000
on May 10,
2011
The
latest registered capital
was increased to
Bht. 500,000,000 divided into
500,000,000 shares of
Bht. 1 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
March 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Chukiat Yongvongpaibul Nationality: Thai Address : 11/158
Moo 7, Laksong,
Bangkae, Bangkok |
125,950,000 |
25.19 |
|
Mr. Krit Suteerachai Nationality: Thai Address : 268/2
Moo 9, Rajburana,
Bangkok |
80,000,000 |
16.00 |
|
Mrs. Chamaiporn Yongvongpaibul Nationality: Thai Address : 11/158
Moo 7, Laksong, Bangkae, Bangkok |
30,000,000 |
6.00 |
|
Mr. Win Suteerachai Nationality: Thai Address : 268/2
Moo 9, Rajburana,
Bangkok |
22,709,500 |
4.54 |
|
Mr. Choocheep Yongvongpaibul Nationality: Thai Address : 108/3
Moo 1, Rama
2 Rd.,
Bangnumjued, Muang, Samutsakorn |
20,600,000 |
4.12 |
|
Ms. Benjamas Batsomboon Nationality: Thai Address : - |
19,307,200 |
3.86 |
|
Dr. Kanokkaew Veerawan Nationality: Thai Address : - |
15,175,700 |
3.04 |
|
Mr. Kriengsilp Limnantarak Nationality: Thai Address : - |
13,315,100 |
2.66 |
|
|
|
|
|
Mr. Singhanart Batsomboon Nationality: Thai Address : 368/143
Moo 2, Bangmod,
Thungkru, Bangkok |
12,000,000 |
2.40 |
|
Others |
160,942,500 |
32.19 |
Total Shareholders :
1,131
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Chanankorn Stiraprapakul No.
6554
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and cash equivalent |
55,365,663 |
28,565,389 |
|
Trade accounts receivable |
467,022,934 |
279,672,638 |
|
Inventories |
938,177,956 |
840,887,607 |
|
Advance payment from purchase
of goods |
66,434,873 |
86,282,238 |
|
Assets held for
sale |
66,036,453 |
- |
|
Value added tax
receivable |
21,778,787 |
37,750,185 |
|
Other current assets |
13,274,471 |
6,343,022 |
|
|
|
|
|
Total Current Assets
|
1,628,091,137 |
1,279,501,079 |
|
Deposits pledged as
collateral |
187,414,905 |
550,884 |
|
Investment in subsidiary |
9,999,400 |
9,999,400 |
|
Land not used
in operations |
551,089,390 |
629,263,571 |
|
Property, plant and
equipment |
72,653,813 |
72,653,813 |
|
Prepaid income tax |
4,564,468 |
26,528,049 |
|
Other non-current assets |
255,546 |
250,546 |
|
Total Assets |
2,454,068,659 |
2,018,747,342 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Bank overdraft and
short-term loan from financial institutions |
1,386,828,361 |
1,055,035,912 |
|
Trade accounts payable - related company |
- |
724,280 |
|
- other companies |
87,815,707 |
48,944,398 |
|
Current portion of
liabilities under hire-purchase agreements |
15,475,779 |
35,054,268 |
|
Current Portion of long-term loan from financial institutions |
26,676,000 |
2,400,000 |
|
Short-term loan and accrued
interest from subsidiary |
10,375,616 |
10,075,616 |
|
Other accounts payable |
6,848,088 |
1,648,672 |
|
Advance received from
sales of goods - related company |
1,162,408 |
- |
|
- other companies |
27,667,195 |
9,071,673 |
|
Advance received from
assets held for
sale |
3,030,000 |
- |
|
Accrued expenses |
9,303,302 |
3,832,609 |
|
Other current liabilities |
3,355,690 |
2,332,814 |
|
|
|
|
|
Total Current Liabilities |
1,578,538,146 |
1,169,120,242 |
|
Liabilities under hire-purchase agreements |
2,292,408 |
16,100,896 |
|
Long-term loans from
financial institutions |
26,648,000 |
- |
|
Employee benefit obligations |
3,545,045 |
- |
|
Total Liabilities |
1,611,023,599 |
1,185,221,138 |
|
|
|
|
|
Shareholders’ Equity |
|
|
|
Share capital |
|
|
|
Authorized shares |
|
|
|
500,000,000 common
shares of Baht 1 each |
500,000,000 |
500,000,000 |
|
Issued and
paid-up shares |
|
|
|
500,000,000 common
shares of Baht 1 each |
500,000,000 |
500,000,000 |
|
Premium on common
shares |
239,500,000 |
239,500,000 |
|
Retained Earnings Appropriated for
Statutory Reserve |
11,038,770 |
9,138,770 |
|
Unappropriated |
92,506,290 |
84,887,434 |
|
Total Shareholders' Equity |
843,045,060 |
833,526,204 |
|
Total Liabilities & Shareholders' Equity |
2,454,068,659 |
2,018,747,342 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales income |
4,672,367,197 |
3,293,848,085 |
|
Services income |
15,624,401 |
17,475,948 |
|
Other income |
28,048,297 |
12,428,138 |
|
Total Revenues |
4,716,039,895 |
3,323,752,171 |
|
Expenses |
|
|
|
|
|
|
|
Cost of sales
|
4,486,267,971 |
3,148,146,981 |
|
Cost of services |
10,684,478 |
15,105,065 |
|
Selling expenses |
23,278,734 |
24,191,200 |
|
Administrative expenses |
60,374,466 |
61,941,915 |
|
Managements’ remuneration |
13,372,000 |
13,026,000 |
|
Loss [Gain] on foreign
exchange rate |
21,681,845 |
[27,549,416] |
|
Total Expenses |
4,615,659,494 |
3,234,861,745 |
|
|
|
|
|
Profit before finance
costs and income
tax |
100,380,401 |
88,890,426 |
|
Finance cost |
[53,698,295] |
[39,640,914] |
|
Profit before income tax |
46,682,106 |
49,249,512 |
|
Income Tax |
[9,490,498] |
- |
|
|
|
|
|
Net Profit / [Loss] |
37,191,608 |
49,249,512 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.03 |
1.09 |
|
QUICK RATIO |
TIMES |
0.33 |
0.26 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
64.53 |
45.58 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.91 |
1.64 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
76.15 |
97.03 |
|
INVENTORY TURNOVER |
TIMES |
4.79 |
3.76 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
36.36 |
30.83 |
|
RECEIVABLES TURNOVER |
TIMES |
10.04 |
11.84 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
7.13 |
5.65 |
|
CASH CONVERSION CYCLE |
DAYS |
105.38 |
122.21 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
95.92 |
95.53 |
|
SELLING & ADMINISTRATION |
% |
1.78 |
2.60 |
|
INTEREST |
% |
1.15 |
1.20 |
|
GROSS PROFIT MARGIN |
% |
4.67 |
4.85 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.14 |
2.68 |
|
NET PROFIT MARGIN |
% |
0.79 |
1.49 |
|
RETURN ON EQUITY |
% |
4.41 |
5.91 |
|
RETURN ON ASSET |
% |
1.52 |
2.44 |
|
EARNING PER SHARE |
BAHT |
7.44 |
9.85 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.66 |
0.59 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.91 |
1.42 |
|
TIME INTEREST EARNED |
TIMES |
1.87 |
2.24 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
41.57 |
|
|
OPERATING PROFIT |
% |
12.93 |
|
|
NET PROFIT |
% |
(24.48) |
|
|
FIXED ASSETS |
% |
- |
|
|
TOTAL ASSETS |
% |
21.56 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
4.67 |
Satisfactory |
Industrial
Average |
5.79 |
|
Net Profit Margin |
0.79 |
Impressive |
Industrial
Average |
0.48 |
|
Return on Assets |
1.52 |
Impressive |
Industrial
Average |
1.11 |
|
Return on Equity |
4.41 |
Impressive |
Industrial
Average |
3.23 |
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 4.67%. When
compared with the industry average, the ratio of the company was lower, indicated that company was originated from
the 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 0.79% 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. Return on Assets ratio is
1.52%, 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.
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 4.41%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY RATIO
|
Current Ratio |
1.03 |
Satisfactory |
Industrial
Average |
1.24 |
|
Quick Ratio |
0.33 |
|
|
|
|
Cash Conversion Cycle |
105.38 |
|
|
|
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 1.03 times in 2011, decreased from 1.09 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 2011,
increased from 0.26 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 106 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE RATIO
|
Debt Ratio |
0.66 |
Impressive |
Industrial
Average |
0.66 |
|
Debt to Equity Ratio |
1.91 |
Acceptable |
Industrial
Average |
2.11 |
|
Times Interest Earned |
1.87 |
Impressive |
Industrial
Average |
1.43 |
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 1.87 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 0.66 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 Downtrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
64.53 |
Impressive |
Industrial
Average |
8.97 |
|
Total Assets Turnover |
1.91 |
Satisfactory |
Industrial
Average |
2.33 |
|
Inventory Conversion Period |
76.15 |
|
|
|
|
Inventory Turnover |
4.79 |
Satisfactory |
Industrial
Average |
5.23 |
|
Receivables Conversion Period |
36.36 |
|
|
|
|
Receivables Turnover |
10.04 |
Impressive |
Industrial
Average |
5.70 |
|
Payables Conversion Period |
7.13 |
|
|
|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.86.61 |
|
Euro |
1 |
Rs.68.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.