MIRA
INFORM REPORT
|
Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
INNOVATIVE
GLOVES CO., LTD.
|
|
|
|
|
Registered Office : |
830 Moo 4, Sanambin-Banklang Road,T. Kuanlung, A. Hadyai, Songkhla 90110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
27.08.1999 |
|
|
|
|
Com. Reg. No.: |
0905542001001 [Former : SOR KHOR.
2793] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, exporter
and distributor of latex gloves |
|
|
|
|
No. of Employees : |
350 |
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 : |
Usually 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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
thailand - ECONOMIC OVERVIEW
With a well-developed infrastructure, a free-enterprise economy,
generally pro-investment policies, and strong export industries, Thailand
enjoyed solid growth from 2000 to 2007 - averaging more than 4% per year - as
it recovered from the Asian financial crisis of 1997-98. Thai exports - mostly
machinery and electronic components, agricultural commodities, and jewelry -
continue to drive the economy, accounting for more than half of GDP. The global
financial crisis of 2008-09 severely cut Thailand's exports, with most sectors
experiencing double-digit drops. In 2009, the economy contracted 2.3%. In 2010,
Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports
rebounded from their depressed 2009 level. Steady economic growth at just below
4% during the first three quarters of 2011 was interrupted by historic flooding
in October and November in the industrial areas north of Bangkok, crippling the
manufacturing sector and leading to a revised growth rate of only 0.1% for the
year. The industrial sector is poised to recover from the second quarter of
2012 onward, however, and the government anticipates the economy will probably
grow between 5.5 and 6.5% for 2012, while private sector forecasts range
between 3.8% and 5.7%.
|
Source
: CIA |
Company name
INNOVATIVE GLOVES CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 830
MOO 4, SANAMBIN-BANKLANG ROAD,
T.
KUANLUNG, A. HADYAI,
SONGKHLA 90110,
THAILAND
TELEPHONE : [66] 74 502-253, 74
502-251
FAX :
[66] 74
474-734, 74 502-252
E-MAIL
ADDRESS : rsood1963@gmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1999
REGISTRATION
NO. : 0905542001001 [Former : SOR
KHOR. 2793]
TAX
ID NO. : 3901039179
CAPITAL REGISTERED : BHT. 120,000,000
CAPITAL PAID-UP : BHT.
120,000,000
SHAREHOLDER’S PROPORTION : THAI :
46%
INDIAN
: 54%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. RAJEEV KUMAR
SOOD, INDIAN
MANAGING DIRECTOR
& FACTORY MANAGER
NO.
OF STAFF : 350
LINES
OF BUSINESS : LATEX
GLOVES
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 27,
1999 as a
private limited company
under the name
style INNOVATIVE GLOVES
CO., LTD., by Mr.
Rajeev Sood, an
Indian and Thai groups,
in order
to manufacture wide
range of latex
gloves for domestic
and international markets.
It currently employs
approximately 350 staff.
Subject
achieved ISO 9001 : 2000, ISO 9002,
ISO 13488 : 2000, ISO 13485 :
2003, ISO 14000 and EN
46002 besides US FDA approvals.
All products produced
have valid 510k
number US FDA inspectors
and was certified
for maintaining an
excellent GMP system.
The
subject’s registered address
is 830 Moo 4,
Sanambin-Banklang Rd.,T.
Kuanlung, A. Hadyai, Songkhla
90110, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Rajeev Kumar Sood |
[x] |
Indian |
50 |
|
Mrs. Swati Sood |
[-] |
Indian |
46 |
|
Mr. Panu Ruengchan |
|
Thai |
49 |
|
Ms. Pradittha Chormanee |
|
Thai |
38 |
AUTHORIZED PERSON
Only the above
director [x] can
sign or the
director [-] can
jointly sign with
one of the
rest directors on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Rajeev Kumar Sood
is the Managing
Director and Factory
Manager.
He is Indian
nationality with the
age of 50
years old.
Ms. Thanaporn Asawasudakorn is
the Sales &
Marketing Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
wide range of
Nitrile and Latex
powder free and
powdered examination gloves,
including powdered &
powder free latex
examination gloves, chlorinated
and polymer coated,
powdered & powder free Nitrile
examination gloves, chlorinated
and polymer coated, general
purpose disposable gloves,
latex powdered and
powder free, general
purpose disposable Nitrile
gloves, powdered and
powder free, and 8
mill disposable extra
thick gloves, with
all sizes available
in XS, S, M, L, XL and
XXL for both
medical and non-medical
application.
PRODUCTION
70 million gloves
per month
PURCHASE
80% of raw material,
mainly concentrated latex
is purchased from
local suppliers, the remaining
20% and component
are imported from
Japan, Taiwan, Germany,
France, and Republic
of China.
EXPORT
80%
of the products
is exported to
many countries in
U.S.A., Hungary, Israel,
Canada, Australia, New Zealand,
Lebanon, Brazil, Chile, Belgium,
United Kingdom, South Africa,
Denmark, France, Kenya,
Greece, Norway, India,
and Japan.
SALES
20% of the
products is sold
locally by wholesale
to dealers and
end-users.
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
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 at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Hadyai Branch, 39
Nipat-uthis II Rd.,
Hadyai, Songkhla]
EMPLOYMENT
The
subject employs approximately
350 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office,
factory and warehouse
on 56,000 square
meters of land
at the heading
address. Premise is
located in Songkhla
province.
Sales
office is located
at 8th Floor,
Lake Ratchada Office
Complex, 193/31 Ratchadapisek
Rd., Klongtoey, Bangkok
10100. Tel.: [66] 2661-9953-4,
Fax: [66] 2661-9954.
COMMENT
The
subject was formed
in 1999 as
a manufacturer, distributor
and exporter of latex
gloves. The products
are for medical
and other industrial
users. Subject’s business performance
had significantly grown
in the past
several years. The
subject’s business is
growing considerably in
line with the
demand of the
products from both
local and overseas
markets.
FINANCIAL INFORMATION
The
capital was initially
registered at Bht. 1,000,000 divided
into 1,000 shares of
Bht. 1,000 each.
The
capital was increased
later as follows:
Bht. 80,000,000
on September
22, 1999
Bht. 120,000,000
on July
13, 2009
The
latest registered capital
was increased to
Bht. 120,000,000 divided into
120,000 shares of
Bht. 1,000 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
September 1, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Rajeev Kumar Sood Nationality: Indian Address : 830
Moo 4, Sanambin-Banklang Rd., T.
Kuanlung, A. Hadyai, Songkhla
90110 |
63,291 |
52.74 |
|
Mrs. Yaowares Kosallakood Nationality: Thai Address : 20
Soi Punvithee 27, Bangchak,
Prakanong, Bangkok |
54,000 |
45.00 |
|
Mrs. Swati Sood Nationality: Indian Address : 99/174
Sukhumvit 24 Rd.,
Klongton,
Klongtoey, Bangkok |
1,500 |
1.25 |
|
Mr. Panu Ruangchan Nationality: Thai Address : 830
Moo 4, Sanambin-Banklang Rd., T.
Kuanlung, A. Hadyai, Songkhla
90110 |
1,207 |
1.01 |
|
Ms. Pradittha Chormanee Nationality: Thai Address : 79/1
Moo 8, T. Chingko,
A. Singhanakorn, Songkhla |
2 |
- |
Total Shareholders : 6
Share Structure [as
at September 1,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
55,209 |
46.00 |
|
Foreign-Indian |
2 |
64,791 |
54.00 |
|
Total |
6 |
120,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Viwat Vateekarn No.
8582
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalents |
9,545,288.16 |
1,966,552.95 |
2,147,590.60 |
|
Trade Accounts Receivable
|
122,793,725.24 |
83,027,049.54 |
73,098,043.93 |
|
Inventories |
116,726,566.94 |
128,059,095.34 |
75,388,146.08 |
|
Other Current Assets
|
9,804,105.34 |
17,565,899.82 |
4,998,981.57 |
|
|
|
|
|
|
Total Current Assets
|
258,869,685.68 |
230,618,597.65 |
155,632,762.18 |
|
|
|
|
|
|
Fixed Assets |
301,156,799.91 |
268,271,612.96 |
254,725,846.30 |
|
Other Non-current Assets |
490,057.44 |
632,172.33 |
1,012,131.68 |
|
Total Assets |
560,516,543.03 |
499,522,382.94 |
411,370,740.16 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
59,202,559.41 |
29,339,930.75 |
85,871,241.20 |
|
Trade Accounts & Other
Payable |
93,297,786.18 |
93,360,034.23 |
34,270,010.18 |
|
Current Portion of
Long-term Loans |
26,000,000.00 |
34,000,000.00 |
40,700,000.00 |
|
Other Payable |
- |
- |
21,900,105.46 |
|
Pre-received for Goods |
9,936,019.56 |
15,297,752.64 |
5,265,033.49 |
|
Accrued Income Tax |
9,210,637.90 |
- |
- |
|
Other Current Liabilities |
10,771,891.78 |
6,832,554.36 |
6,074,026.45 |
|
|
|
|
|
|
Total Current Liabilities |
208,418,894.83 |
178,830,271.98 |
194,080,416.78 |
|
Long-term Loan from Related
Person |
- |
- |
22,563,667.74 |
|
Long-term Loan |
71,500,000.00 |
65,273,260.04 |
26,620,000.00 |
|
Other Non-current Liabilities |
- |
1,509,315.00 |
1,670,035.00 |
|
Total Liabilities |
279,918,894.83 |
245,612,847.02 |
244,934,119.52 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 120,000 shares |
120,000,000.00 |
120,000,000.00 |
120,000,000.00 |
|
|
|
|
|
|
Capital Paid |
120,000,000.00 |
120,000,000.00 |
120,000,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
12,000,000.00 |
10,800,000.00 |
10,800,000.00 |
|
Unappropriated |
148,597,648.20 |
123,109,535.92 |
35,636,620.64 |
|
Total Shareholders' Equity |
280,597,648.20 |
253,909,535.92 |
166,436,620.64 |
|
Total Liabilities & Shareholders' Equity |
560,516,543.03 |
499,522,382.94 |
411,370,740.16 |
PROFIT &
LOSS ACCOUNT
|
Sale |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
999,327,518.23 |
791,532,735.74 |
632,971,918.11 |
|
Other Income |
7,802,872.05 |
5,383,100.88 |
4,509,180.36 |
|
Total Sales |
1,007,130,390.28 |
796,915,836.62 |
637,481,098.47 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
799,904,158.29 |
667,643,341.37 |
479,490,213.29 |
|
Selling Expenses |
6,741,008.56 |
7,382,898.44 |
8,092,366.96 |
|
Administrative Expenses |
29,124,260.98 |
22,179,421.18 |
15,656,265.18 |
|
Total Expenses |
835,769,427.83 |
697,205,660.99 |
503,238,845.43 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
171,360,962.45 |
99,710,175.63 |
134,242,253.04 |
|
Financial Costs |
[10,552,676.35] |
[7,991,660.16] |
[6,650,243.37] |
|
Profit / [Loss] before Income
Tax |
160,808,286.10 |
91,718,515.47 |
127,592,009.67 |
|
Income Tax |
[12,210,637.90] |
[4,245,600.19] |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
148,597,648.20 |
87,472,915.28 |
127,592,009.67 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.24 |
1.29 |
0.80 |
|
QUICK RATIO |
TIMES |
0.63 |
0.48 |
0.39 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.32 |
2.95 |
2.48 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.78 |
1.58 |
1.54 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
53.26 |
70.01 |
57.39 |
|
INVENTORY TURNOVER |
TIMES |
6.85 |
5.21 |
6.36 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
44.85 |
38.29 |
42.15 |
|
RECEIVABLES TURNOVER |
TIMES |
8.14 |
9.53 |
8.66 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
42.57 |
51.04 |
26.09 |
|
CASH CONVERSION CYCLE |
DAYS |
55.54 |
57.26 |
73.45 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
80.04 |
84.35 |
75.75 |
|
SELLING & ADMINISTRATION |
% |
3.59 |
3.73 |
3.75 |
|
INTEREST |
% |
1.06 |
1.01 |
1.05 |
|
GROSS PROFIT MARGIN |
% |
20.74 |
16.33 |
24.96 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
17.15 |
12.60 |
21.21 |
|
NET PROFIT MARGIN |
% |
14.87 |
11.05 |
20.16 |
|
RETURN ON EQUITY |
% |
52.96 |
34.45 |
76.66 |
|
RETURN ON ASSET |
% |
26.51 |
17.51 |
31.02 |
|
EARNING PER SHARE |
BAHT |
1,238.31 |
728.94 |
1,063.27 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.50 |
0.49 |
0.60 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.00 |
0.97 |
1.47 |
|
TIME INTEREST EARNED |
TIMES |
16.24 |
12.48 |
20.19 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
26.25 |
25.05 |
|
|
OPERATING PROFIT |
% |
71.86 |
(25.72) |
|
|
NET PROFIT |
% |
69.88 |
(31.44) |
|
|
FIXED ASSETS |
% |
12.26 |
5.32 |
|
|
TOTAL ASSETS |
% |
12.21 |
21.43 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 26.25%. Turnover has increased from THB
791,532,735.74 in 2010 to THB 999,327,518.23 in 2011. While net profit has increased
from THB 87,472,915.28 in 2010 to THB 148,597,648.20 in 2011. And total assets
has increased from THB 499,522,382.94 in 2010 to THB 560,516,543.03 in 2011.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
20.74 |
Impressive |
Industrial Average |
14.31 |
|
Net Profit Margin |
14.87 |
Impressive |
Industrial Average |
4.51 |
|
Return on Assets |
26.51 |
Impressive |
Industrial Average |
6.56 |
|
Return on Equity |
52.96 |
Impressive |
Industrial Average |
11.99 |
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. Gross Profit Margin is 20.74%. 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. Which Net Profit Margin ratio is
14.87%, 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. Return on Assets ratio is
26.51%, 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 52.96%, 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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.24 |
Acceptable |
Industrial Average |
1.82 |
|
Quick Ratio |
0.63 |
|
|
|
|
Cash Conversion Cycle |
55.54 |
|
|
|
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 1.24 times in 2011, decrease from 1.29 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 0.63 times in 2011,
increase from 0.48 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 56 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.50 |
Acceptable |
Industrial Average |
0.40 |
|
Debt to Equity Ratio |
1.00 |
Impressive |
Industrial Average |
0.74 |
|
Times Interest Earned |
16.24 |
Impressive |
Industrial Average |
8.70 |
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 16.24 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 0.5 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 Downtrend
Times Interest Earned Uptrend
ACTIVITY :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.32 |
Impressive |
Industrial Average |
3.25 |
|
Total Assets Turnover |
1.78 |
Impressive |
Industrial Average |
1.44 |
|
Inventory Conversion Period |
53.26 |
|
|
|
|
Inventory Turnover |
6.85 |
Impressive |
Industrial Average |
6.65 |
|
Receivables Conversion Period |
44.85 |
|
|
|
|
Receivables Turnover |
8.14 |
Impressive |
Industrial Average |
5.60 |
|
Payables Conversion Period |
42.57 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.14 and 9.53 in
2011 and 2010 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate sale. A lower ratio may indicate over
extension and collection problems. Conversely, a higher ratio may indicate an
overtly stringent policy. In this case, the company's A/R ratio in 2011
decreased from 2010. This would suggest the company had deteriorated in the
management of its debt collections.
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 decreased from 70 days at the
end of 2010 to 53 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 5.21 times in year 2010 to 6.85 times
in year 2011.
The company's Total Asset Turnover is calculated as 1.78 times and 1.58
times in 2011 and 2010 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 Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
UK Pound |
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.82 |
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.