MIRA
INFORM REPORT
|
Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
THAI UNION MANUFACTURING COMPANY LIMITED |
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|
|
|
Registered Office : |
M Floor, S.M.
Tower, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.08.1973 |
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Com. Reg. No.: |
0105516008980 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Exporter and Distributor of Canned Tunas and Pet Food Products |
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No. of Employees : |
7,000 |
RATING & COMMENTS
|
MIRAs Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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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 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 |
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Restricted |
C2 |
|
Off-credit |
D |
Company name
THAI UNION
MANUFACTURING COMPANY LIMITED
[THAI UNION GROUP]
SUMMARY
BUSINESS
ADDRESS : M
FLOOR, S.M. TOWER,
979/13-16 PHAHOLYOTHIN
ROAD, SAMSENNAI, PHYATHAI,
BANGKOK 10400,
TELEPHONE : [66] 2298-0025,
2298-0421-32
FAX :
[66] 2298-0027-8
E-MAIL
ADDRESS : akkadet_ch@thaiunion.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1973
REGISTRATION
NO. : 0105516008980
CAPITAL REGISTERED : BHT. 300,000,000
CAPITAL PAID-UP : BHT.
300,000,000
SHAREHOLDERS PROPORTION : THAI :
99.93%
FOREIGN :
0.07%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. KRAISORN CHANSIRI,
THAI
PRESIDENT
NO.
OF STAFF : 7,000
LINES
OF BUSINESS : CANNED TUNAS
AND PET FOOD
PRODUCTS
MANUFACTURER, EXPORTER
AND DISTRIBUTOR
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 August 23,
1973 as a
private limited company under
the registered name
THAI UNION MANUFACTURING
COMPANY LIMITED by
Thai groups, with the business objective to manufacture and distribute
wide range of canned
tunas and pet
food products to
both domestic and
international markets. It
currently employs approximate
7,000 staff.
The
subject is one of
Thai Union Group of
companies, led by Thai
Union Frozen Products
Public Company, which is
the parent company
of the group.
It is also
the worlds largest canned tuna company.
The subjects registered
address is M Flr.,
S.M. Tower, 979/13-16 Phaholyothin
Rd., Samsennai, Phyathai,
Bangkok 10400, and
this is the
subjects current operation
address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Chan Hon Kit |
|
Chinese |
72 |
|
Mr. Kraisorn Chansiri |
|
Thai |
72 |
|
Mr. Chan Tin King |
|
Chinese |
44 |
|
Mr. Nakorn Niruttinanont |
|
Thai |
41 |
|
Mr. Chuan Tungchansiri |
|
Thai |
67 |
|
Mr. Manas Tungchansiri |
|
Thai |
70 |
|
Mr. Cheng Niruttinanont |
|
Thai |
70 |
|
Mr. Chan Tin Su |
|
Chinese |
39 |
|
Mr. Theerapong Chansiri |
|
Thai |
46 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
companys affixed.
MANAGEMENT
Mr. Kraisorn Chansiri is
the President.
He is Thai
nationality with the
age of 72
years old.
Mr. Chuan Tungchansiri is
the Vice President & Financial Manager.
He is Thai
nationality with the
age of 67
years old.
Mr. Cheng Niruttinanon is
the Managing Director.
He is Thai
nationality with the
age of 70
years old.
Mr. Pichitchai Wangpiya is the
General
Manager.
He is Thai
nationality.
Mr. Pornchai Tangtiyathaveesuk is
the Sales & Marketing Manager.
He is Thai
nationality.
Mr. Somsak Smithiseth is
the Factory Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing and servicing
of canned tuna
which comprising Tuna Steak
in Vegetable Oil,
Tuna Steak in Brine, Tuna
Steak in Spring Water,
Tuna Steak in Sunflower Oil
with CLA, Tuna
Steak in Vegetable
Oil with Broth, Tuna
Steak Sandwich in Vegetable Oil, Tuna Sandwich
in Brine and
Tuna Sandwich in
Spring Water under
its owned brand
SEALECT, and customers
brands, as well
as canned pet
foods, mainly for
cat, under its
brands FRISKIES and
PUMKY.
PRODUCTION CAPACITY
Approximately 400 metric
tons/day
PURCHASE
80% of its
raw materials, mainly
tuna, as well
as food ingredient
is imported from
Indonesia, Taiwan, Korea,
Myanmar, Japan, Malaysia,
India & France, the remaining
20% is purchased
from local supplier.
MAJOR
SUPPLIERS
Thai Union Frozen
Products Public Company
Limited : Thailand
Asian Pacific Can
Co., Ltd. : Thailand
Thai Union Graphic
Co., Ltd. : Thailand
SALES
90% of the
products is exported
to Japan, Hong
Kong, Singapore, U.S.A.,
France, India, Italy,
Canada, Spain, Belgium,
Switzerland, and many
countries in Middle
East and Africa,
the remaining 10% is sold locally by
wholesale through T. Holding
Co., Ltd., an
affiliated company.
PARENT
COMPANY
Thai
Union Frozen Products
Public Company Limited
Business
Type : Manufacturer
of frozen foods.
Address : 72/1
Moo 7, Sethakij
1 Rd., Thasai,
Muang, Samutsakorn 74000.
SUBSIDIARY AND
AFFILIATED COMPANIES
The subject is a member of
The Thai Union Group, which has over 30
affiliated companies, such
as follows:
Thai Union Seafood
Co., Ltd.
Business
Type : Manufacturer
and exporter of
frozen shrimps.
T-Holding
Co., Ltd.
Business
Type : Distributor
of food products.
Lucky Union Foods
Co., Ltd.
Business
Type : Manufacturer
and exporter of
imitation crab stick.
Thai Union Graphic
Co., Ltd.
Business
Type : Printing
service provider.
Songkla Canning Co.,
Ltd.
Business
Type : Manufacturer
and exporter of
canned seafood products.
Thai Quality Shrimp
Co., Ltd.
Business
Type : Manufacturer
and exporter of
shrimps, as well
as research and
developer of
shrimp breeds.
Thai Union Feedmill
Co., Ltd.
Business
Type : Manufacturer
and exporter of
animal feed.
Thai Union Hatchery
Co., Ltd.
Business
Type : Development
of white shrimp
breeds.
Thai Union International
Co., Ltd.
Business
Type : An
holding and investment
company in U.S.A..
Tri-Union Seafoods LLC.
Business
Type : Manufacturer
and distributor of
canned seafood.
etc.
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
L/C on the
credits term of
30-60 days or
T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
Kasikornbank
Public Co., Ltd.
The
Siam Commercial Bank
Public Co., Ltd.
Krung
Thai Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately 7,000 staff, comprising
1,500 permanent staff
and 5,500 temporary
workers.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in commercial
area.
Factory/Cold
Storage :
-
94/6
Sethakij 1 Rd.,
T. Thasai, A. Muang, Samutsakorn
74000.
Tel.
34 816-441-56, Fax.
34 816-457 [19,200
square meters of
land area]
- 30/2 Moo
8, Sethakij 1
Rd., T. Thasai, A. Muang,
Samutsakorn 74000.
Tel. 34
412-210, Fax. 34
425-459.
- 38/138 Moo
8, Sethakij 1
Rd., T. Thasai, A. Muang,
Samutsakorn 74000.
REMARK
MAXIMUM
CREDIT SHOULD BE
GRANTED AT USD 10,000,000.
COMMENT
The company
has strong international
competitiveness. Standard quality
products at competitive
price as well
as experienced and capable
marketing personnel with
regular customers visits
play roles in acquiring
such a strong
competitiveness in global
market.
Food
exports from the company enjoyed good
global reputation and recognition. Moreover, free trade agreements (FTAs)
between Thailand and other countries should start to benefit and allow to
expand further.
2010
remained a challenging year for its business in Thailand while competition
around the world was also intensifying, requiring it to monitoring the situation closely in order
to stay competitive in the global marketplace.
Nevertheless, a flexible organization and management, a strong business
foundation and a solid financial position were competitive advantages to get
the company prepared for the global competition.
Through
the years 2011, the company had been
sticking to its policy of sustainable growth through developing products which
suit market needs. Developing new markets and making new investments based on
this principle allowed the
company to maintain continual
expansion all along. This also makes it
possible to provide persistently satisfactory returns.
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. 120,000,000
on March 24,
1988
Bht. 180,000,000
on April 12,
1989
Bht. 240,000,000
on February 27,
1990
Bht. 300,000,000
on March 26,
1991
On
May 24, 1999,
the capital was
divided into 30,000,000
shares of Bht. 10
each with fully
paid.
MAIN
SHAREHOLDERS LISTED : [as
at October 20,
2011]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Thai Union Frozen
Products Public Company
Limited Nationality: Thai Address : 72/1
Moo 7, Sethakij
1 Rd., Thasai,
Muang, Samutsakorn |
27,022,920 |
90.08 |
|
Mrs. Busakorn Chansiri Nationality: Thai Address : 2999
Rimtangrodfai Saipaknam Rd.,
Prakanong, Klongtoey, Bangkok |
1,002,000 |
3.34 |
|
Mr. Somkiat Satayaphan Nationality: Thai Address : 286/9
Surawong Rd., Siphya,
Bangrak, Bangkok |
326,000 |
1.08 |
|
Mrs. Charoonluck Panitchewa Nationality: Thai Address : 87/3
Sukhumvit 54 Rd.,
Bangchak,
Prakanong, Bangkok |
315,000 |
1.05 |
|
Mr. Arthorn Pibulthanapattana Nationality: Thai Address : 50/121-2
Bangna-Trad Rd., Bangkaew,
Bangplee, Samutprakarn |
203,750 |
0.68 |
|
Others |
1,130,330 |
3.77 |
Total Shareholders : 38
Share Structure [as
at October 20,
2011]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
34 |
29,980,000 |
99.93 |
|
Foreign |
4 |
20,000 |
0.07 |
|
Total |
38 |
30,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Sophon Permsiriwallop No.
3182
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2010 &
2009 were:
ASSETS
|
Current Assets |
2010 |
2009 |
|
|
|
|
|
Cash and Cash Equivalent |
18,715,791 |
24,127,633 |
|
Trade Accounts Receivable |
|
|
|
Related Company |
597,329,906 |
578,551,470 |
|
Non-related Company |
1,609,348,030 |
1,336,051,334 |
|
Less: Doubtful
Account |
[11,687,022] |
[13,914,881] |
|
Trade Accounts Receivable,
net |
2,194,990,914 |
1,900,687,923 |
|
Short-term Loan to Related
Company |
672,865,000 |
909,950,000 |
|
Current Portion of
Long-term Loan to Related Company |
1,794,492,000 |
- |
|
Current Portion of
Long-term Loan to Other Company |
- |
775,000 |
|
Inventories |
2,585,519,387 |
2,075,820,731 |
|
Refundable Value Added Tax |
31,985,060 |
23,517,780 |
|
Account Receivable under
Forward Contract |
98,493,756 |
33,344,200 |
|
Other Current Assets |
138,112,589 |
82,242,279 |
|
|
|
|
|
Total Current Assets
|
7,535,174,497 |
5,050,465,546 |
|
Investment in Subsidiaries |
- |
112,235,860 |
|
Investment in Associated |
112,980,221 |
79,089,186 |
|
Other Long-term Investment |
36,989,488 |
40,934,883 |
|
Long-term Loan to Related
Company |
177,000,000 |
3,184,356,000 |
|
Long-term Loan to Other Company |
25,500,000 |
10,000,000 |
|
Fixed Assets |
1,432,066,633 |
1,149,347,602 |
|
Intangible Assets |
7,830,787 |
2,619,033 |
|
Deferred Income Tax |
368,248,175 |
1,927,370 |
|
Other Assets |
6,893,650 |
3,887,468 |
|
Total Assets |
9,702,683,451 |
9,634,862,948 |
LIABILITIES &
SHAREHOLDERS EQUITY [BAHT]
|
Current
Liabilities |
2010 |
2009 |
|
|
|
|
|
Bank Overdraft & Short-term
Loan from Financial Institutions |
628,010,059 |
541,466 |
|
Trade Accounts Payable |
|
|
|
Related Company |
452,733,136 |
434,329,748 |
|
Non-related Company |
383,168,969 |
269,740,816 |
|
Total Trade Accounts Payable |
835,902,105 |
704,070,564 |
|
Short-term Loan from
Parent Company |
- |
500,000,000 |
|
Current Portion of Long-term Loan from Parent Company |
1,817,778,000 |
- |
|
Current Portion of Long-term Loan from Financial Institutions |
272,500,000 |
- |
|
Accrued Income Tax |
33,892,344 |
71,921,037 |
|
Accrued Expenses |
144,217,808 |
139,551,068 |
|
Payable Assets |
73,207,098 |
39,616,109 |
|
Other Payable |
104,644,964 |
91,295,303 |
|
Other Current Liabilities |
121,164,240 |
101,945,927 |
|
|
|
|
|
Total Current Liabilities |
4,031,313,618 |
1,648,941,474 |
|
Long-term Loan from Other
|
7,944,335 |
8,366,901 |
|
Long-term Loan from Parent Company |
- |
2,011,008,000 |
|
Long-term Loan from Financial
Institutions |
817,500,000 |
1,090,000,000 |
|
Total Liabilities |
4,856,757,953 |
4,758,316,375 |
|
|
|
|
|
Shareholders Equity |
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 30,000,000 shares |
300,000,000 |
300,000,000 |
|
|
|
|
|
Capital Paid |
300,000,000 |
300,000,000 |
|
Unrealized Loss Lower
on Decline Value of Investment |
[18,112,392] |
[18,863,647] |
|
Retained Earnings Appropriated for
Statutory Reserve |
30,000,000 |
30,000,000 |
|
Unappropriated |
4,534,037,890 |
4,565,410,220 |
|
Total Shareholders' Equity |
4,845,925,498 |
4,876,546,573 |
|
Total Liabilities & Shareholders' Equity |
9,702,683,451 |
9,634,862,948 |
PROFIT &
LOSS ACCOUNT
|
Sale |
2010 |
2009 |
|
|
|
|
|
Sales Income |
15,730,688,166 |
14,812,819,777 |
|
Interest Income |
139,826,971 |
160,764,206 |
|
Gain on Exchange
Rate |
261,459,677 |
63,332,262 |
|
Other Income |
218,089,306 |
202,367,843 |
|
Total Sales |
16,350,064,120 |
15,239,284,088 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
14,029,042,699 |
12,642,897,284 |
|
Selling Expenses |
577,884,540 |
456,893,402 |
|
Administrative Expenses |
368,271,166 |
352,818,522 |
|
Other Expenses |
|
|
|
Doubtful Account
from Loan to Related |
1,020,000,000 |
- |
|
Loss on
Diminution of Investment |
114,032,825 |
32,944,450 |
|
Total Expenses |
16,109,231,230 |
13,485,553,658 |
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
240,832,890 |
1,753,730,430 |
|
Financial Cost |
[134,682,272] |
[162,345,368] |
|
Profit before Income Tax |
106,150,618 |
1,591,385,062 |
|
Income / [Income Tax] |
267,477,052 |
[122,140,751] |
|
|
|
|
|
Net Profit / [Loss] |
373,627,670 |
1,469,244,311 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2010 |
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
CURRENT RATIO |
TIMES |
1.32 |
|
QUICK RATIO |
TIMES |
0.62 |
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1,946.77 |
|
TOTAL ASSETS TURNOVER |
TIMES |
5.84 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
7.81 |
|
INVENTORY TURNOVER |
TIMES |
46.76 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
|
RECEIVABLES TURNOVER |
TIMES |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
- |
|
CASH CONVERSION CYCLE |
DAYS |
7.81 |
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
COST OF GOODS SOLD |
% |
98.41 |
|
SELLING & ADMINISTRATION |
% |
1.11 |
|
INTEREST |
% |
- |
|
GROSS PROFIT MARGIN |
% |
1.59 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.48 |
|
NET PROFIT MARGIN |
% |
0.45 |
|
RETURN ON EQUITY |
% |
4.19 |
|
RETURN ON ASSET |
% |
2.60 |
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
DEBT RATIO |
TIMES |
0.38 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.61 |
|
TIME INTEREST EARNED |
TIMES |
- |
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
SALES GROWTH |
% |
- |
|
OPERATING PROFIT |
% |
- |
|
NET PROFIT |
% |
- |
|
FIXED ASSETS |
% |
- |
|
TOTAL ASSETS |
% |
- |
PROFITABILITY RATIO
|
Gross Profit Margin |
1.59 |
Deteriorated |
Industrial
Average |
19.85 |
|
Net Profit Margin |
0.45 |
Impressive |
Industrial
Average |
(1.50) |
|
Return on Assets |
2.60 |
Impressive |
Industrial
Average |
(1.44) |
|
Return on Equity |
4.19 |
Acceptable |
Industrial
Average |
8.14 |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from sales 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 1.59%. 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 0.45% 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 2.6%, 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. When compared with the
industry average, it was lower, the company's figure is 4.19%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Uptrend
LIQUIDITY RATIO
|
Current Ratio |
1.32 |
Deteriorated |
Industrial
Average |
28.73 |
|
Quick Ratio |
0.62 |
|
|
|
|
Cash Conversion Cycle |
7.81 |
|
|
|
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 1.32 times in 2010, increased from 0 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 0.62 times in 2010,
increased from 0 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 8 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.38 |
Impressive |
Industrial
Average |
3.17 |
|
Debt to Equity Ratio |
0.61 |
Impressive |
Industrial
Average |
1.62 |
|
Times Interest Earned |
- |
|
Industrial
Average |
442.93 |
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.38 less than 0.5, most of the company's
assets are financed through equity.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Uptrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
1,946.77 |
Deteriorated |
Industrial
Average |
13,754.44 |
|
Total Assets Turnover |
5.84 |
Impressive |
Industrial
Average |
5.29 |
|
Inventory Conversion Period |
7.81 |
|
|
|
|
Inventory Turnover |
46.76 |
Acceptable |
Industrial
Average |
75.06 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial
Average |
21.95 |
|
Payables Conversion Period |
- |
|
|
|
Trend of the average
competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.93 |
|
UK Pound |
1 |
Rs.88.15. |
|
Euro |
1 |
Rs.70.88 |
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 SCs 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.