MIRA
INFORM REPORT
|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
HONDA TRADING
ASIA CO., LTD. |
|
|
|
|
Registered Office : |
3rd Floor,
Indosuez House, 152 Wireless Road,
Lumpini, Pathumwan, Bangkok
10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
18.03.1991 |
|
|
|
|
Com. Reg. No.: |
0105534025726 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Distributor and Exporter of Steels |
|
|
|
|
No. of Employees : |
200 |
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 : |
Good |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
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 achieved steady growth due largely to industrial and agriculture
exports - mostly electronics, agricultural commodities, automobiles and parts,
and processed foods. Thailand is trying to maintain growth by encouraging
domestic consumption and public investment to offset weak exports in 2012.
Unemployment, at less than 1% of the labor force, stands as one of the lowest levels
in the world, which puts upward pressure on wages in some industries. Thailand
also attracts nearly 2.5 million migrant workers from neighboring countries.
The Thai government is implementing a nation-wide 300 baht ($10) per day
minimum wage policy and deploying new tax reforms designed to lower rates on
middle-income earners. The Thai economy has weathered internal and external
economic shocks in recent years. The global economic severely cut Thailand's
exports, with most sectors experiencing double-digit drops. In 2009, the
economy contracted 2.3%. However, in 2010, Thailand's economy expanded 7.8%,
its fastest pace since 1995, as exports rebounded. In late 2011 growth was
interrupted by historic flooding in the industrial areas in Bangkok and its five
surrounding provinces, crippling the manufacturing sector. Industry recovered
from the second quarter of 2012 onward with GDP growth at 5.5% in 2012. The
government has approved flood mitigation projects worth $11.7 billion, which
were started in 2012, to prevent similar economic damage, and an additional $75
billion for infrastructure over the next seven years with a plan to start in
2013.
Source
: CIA
Company name
HONDA
TRADING ASIA CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 3rd FLOOR, INDOSUEZ
HOUSE,
152
WIRELESS
ROAD, LUMPINI,
PATHUMWAN,
BANGKOK 10330
TELEPHONE : [66] 2651-4170
FAX :
[66] 2651-4191-3
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1991
REGISTRATION
NO. : 0105534025726
TAX
ID NO. : 3101951721
CAPITAL REGISTERED : BHT. 112,000,000
CAPITAL PAID-UP : BHT.
112,000,000
SHAREHOLER’SD PROPORTION : THAI :
5.46%
JAPANESE :
94.54%
FISCAL YEAR CLOSING DATE : MARCH
31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. HIDEAKI MURAI,
JAPANESE
PRESIDENT
NO.
OF STAFF : 200
LINES
OF BUSINESS : STEELS
IMPORTER, DISTRIBUTOR
AND EXPORTER
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 March 18,
1991 as a
private limited company
under the originally
registered name “Honda
Trading [Thailand] Co.,
Ltd.” by Thai
and Japanese groups. On
March 19, 2009,
its registered name
was changed to
HONDA TRADING ASIA
CO., LTD. Its
objective is engaged
in steel trader. It
currently employs approximate
200 staff.
The subject is a subsidiary
of Honda Trading
Corporation, which is
a member of
Honda Motor Company
Limited, in Japan.
The
subject’s registered address is 3rd Flr., Indosuez House,
152 Wireless Rd., Lumpini, Pathumwan, Bangkok 10330,
and this is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Hideaki Murai |
|
Japanese |
53 |
|
Mr. Mitsunari Takano |
|
Japanese |
58 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Hideaki Murai is the
President.
He is Japanese
nationality with the
age of 53
years old.
Mr. Mitsunari Takano is
the Vice President.
He is Japanese
nationality with the
age of 58
years old.
BUSINESS OPERATIONS
The subject is engaged
in international trading
business to import,
distribute and export various
kinds of industrial
products, such as
steels, aluminum, plastic,
machinery, tools &
equipment, mold parts, automotive
recycling products [automotive materials
e.g. steel, aluminium
resin & etc.], and spare
parts for automotive,
machinery, motorcycle and
power plant industries.
PURCHASE
The
products are purchased
from suppliers both
domestic and overseas,
mainly in Japan,
Republic of China,
France, Australia, Italy
and Germany.
MAJOR
SUPPLIERS
Honda
Trading Corporation : Japan
Thai
Metal Trade Public
Company Limited : Thailand
Sahaviriya
Steel Industry Public
Company Limited : Thailand
Bangkok
Steel Industry Public
Company Limited : Thailand
IRPC
Public Company Limited : Thailand
Thai
Summit Group of
Companies : Thailand
SALES
99% of the
products is sold
and supplied to
Honda group of
companies both local
and overseas, such
as Vietnam, Pakistan,
Taiwan, Philippines, India,
Indonesia, Republic of
China, Malaysia and
Europe, the remaining 1%
is sold to
general customers.
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.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
Bank of
Tokyo-Mitsubishi UFJ Ltd.
EMPLOYMENT
The
subject employs approximately
200 staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a prime
commercial area.
Branches
office : [Thailand/Overseas]
- 47
Moo 7, Poochaosaingprai Rd.,
Samrong, Phrapradaeng, Samutprakarn.
- 102/1
Moo 1, Wat
Daowadueng Rd., Bangkadi, Muang,
Pathumthani.
- Suite
605-B The Forum
Khayaban-E-Jamai, Block-9, Clifton
Karachi-75600 Pakistan.
- 49
Moo 4 T. Banchang, A. Uthai, Ayutthaya.
- Hacpl-Desk, 43-KM,
Mutan Road, Manga
Mandi, Lahore 54300,
Pakistan.
COMMENT
The subject was formed
in 1991 as an international
trading of steel,
metal, mold part and
etc. for automotive
and machinery industries.
The products are
served mainly to
automobile industry both
local and overseas.
Subject’s operating performance
had significantly grown in
the past several
years.
Business
stagnant had seen
for six months started in
October 2011 and ended
in March 2012 due to
massive floods in
Honda Car assembling plant in
Ayudhya province. After
backed to its operation since
the second quarter of
2012, the company
has speed up its
productions to cope
with strong demand
from related industries.
Finally it ended
the year with
a positive results.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 12,000,000
divided into 120,000
shares of Bht.
100 each.
On
April 23, 1999,
the capital was increased
to Bht. 112,000,000 divided into
1,120,000 shares of Bht.
100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
July 24, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Honda Trading Corporation Nationality: Japanese Address : 1-8-2
Marunokuji, Chiyodaku, Tokyo, Japan |
1,058,800 |
94.54 |
|
AP Honda Co.,
Ltd. Nationality: Thai Address : 149
Old Railway Rd.,
Samrongtai,
Phrapradaeng, Samutprakarn |
30,600 |
2.73 |
|
Honda Automobile [Thailand]
Co., Ltd. Nationality: Thai Address : 49
Moo 9, T. Thanu,
A. Uthai, Ayutthaya |
30,600 |
2.73 |
Total Shareholders : 3
Share Structure [as
at July 24,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
2 |
61,200 |
5.46 |
|
Foreign - Japanese |
1 |
1,058,800 |
94.54 |
|
Total |
3 |
1,120,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Ekasit Chuthamsathit No.
4195
BALANCE SHEET [BAHT]
The
latest financial figures
published for March
31, 2012, 2011 &
2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalent |
138,259,905 |
103,142,772 |
70,409,657 |
|
Trade Accounts Receivable |
9,500,968,642 |
6,740,964,755 |
5,379,600,542 |
|
Compensation Receivable from
Insurance |
44,848,441 |
- |
- |
|
Other Receivable |
102,770,333 |
106,397,242 |
- |
|
Inventories |
6,719,506,609 |
4,422,622,427 |
2,387,967,829 |
|
Refundable Value Added
Tax |
117,096,930 |
171,591,598 |
138,061,831 |
|
Other Current Assets |
50,824,123 |
57,016,805 |
147,321,705 |
|
|
|
|
|
|
Total Current Assets
|
16,674,274,983 |
11,601,735,599 |
8,123,361,564 |
|
|
|
|
|
|
Long-term Investment |
43,717,628 |
43,717,628 |
43,717,628 |
|
Fixed Assets |
247,548,421 |
255,863,528 |
260,957,289 |
|
Intangible Assets |
32,788,255 |
42,083,193 |
26,440,217 |
|
Other Non-current Assets |
6,718,000 |
7,038,568 |
7,843,040 |
|
Total Assets |
17,005,047,287 |
11,950,438,516 |
8,462,319,738 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Short-term Loan from Financial Institution |
6,110,000,000 |
3,820,000,000 |
2,150,000,000 |
|
Trade Accounts Payable |
6,350,879,577 |
3,943,304,282 |
3,443,510,817 |
|
Other Payable |
75,544,341 |
69,239,291 |
- |
|
Current Portion of
Long-term Loan Financial Institution |
300,000,000 |
- |
62,254,651 |
|
Advance Income from Customer |
139,014,818 |
135,197,697 |
- |
|
Accrued Income Tax |
135,192,313 |
318,665,161 |
- |
|
Accrued Expenses |
249,281,150 |
120,811,706 |
69,101,721 |
|
Other Current Liabilities |
33,136,840 |
3,771,993 |
63,393,914 |
|
|
|
|
|
|
Total Current Liabilities |
13,393,049,039 |
8,410,990,130 |
5,788,261,103 |
|
|
|
|
|
|
Estimated Liabilities from
Employee Benefits |
13,390,826 |
- |
- |
|
Long-term Payable from Related Company |
- |
300,000,000 |
- |
|
Total Liabilities |
13,406,439,865 |
8,710,990,130 |
5,788,261,103 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 1,120,000 shares |
112,000,000 |
112,000,000 |
112,000,000 |
|
|
|
|
|
|
Capital Paid |
112,000,000 |
112,000,000 |
112,000,000 |
|
Retained Earning Appropriated for
Statutory Reserve |
11,200,000 |
11,200,000 |
11,200,000 |
|
Unappropriated |
3,475,407,422 |
3,116,248,386 |
2,550,858,635 |
|
Total Shareholders' Equity |
3,598,607,422 |
3,239,448,386 |
2,674,058,635 |
|
Total Liabilities &
Shareholders' Equity |
17,005,047,287 |
11,950,438,516 |
8,462,319,738 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales & Services |
34,633,497,395 |
35,598,703,661 |
26,705,354,519 |
|
Interest Income |
9,408,400 |
7,523,601 |
182,903 |
|
Dividend Income |
12,581,772 |
3,635,213 |
2,844,722 |
|
Gain on Exchange
Rate |
188,154,781 |
74,627,886 |
75,721,279 |
|
Other Income |
149,327,719 |
88,613,645 |
101,066,373 |
|
Total Revenues |
34,992,970,067 |
35,773,104,006 |
26,885,169,796 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
32,802,794,331 |
33,594,973,971 |
25,342,452,530 |
|
Selling Expenses |
463,388,409 |
548,110,871 |
369,404,556 |
|
Administrative Expenses |
380,982,111 |
283,258,591 |
307,940,239 |
|
Loss on Flood
Incident |
49,797,543 |
- |
- |
|
Total Expenses |
33,696,962,394 |
34,426,343,433 |
26,019,797,325 |
|
|
|
|
|
|
Profit before Financial Cost & Income Tax |
1,296,007,673 |
1,346,760,573 |
865,372,471 |
|
Financial Cost |
[134,100,624] |
[55,940,276] |
[63,375,124] |
|
Profit before Income Tax |
1,161,907,049 |
1,290,820,297 |
801,997,347 |
|
Income Tax |
[357,492,013] |
[400,305,746] |
[151,753,280] |
|
|
|
|
|
|
Net Profit / [Loss] |
804,415,036 |
890,514,551 |
650,244,067 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.24 |
1.38 |
1.40 |
|
QUICK RATIO |
TIMES |
0.73 |
0.83 |
0.94 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
139.91 |
139.13 |
102.34 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.04 |
2.98 |
3.16 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
74.77 |
48.05 |
34.39 |
|
INVENTORY TURNOVER |
TIMES |
4.88 |
7.60 |
10.61 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
100.13 |
69.12 |
73.53 |
|
RECEIVABLES TURNOVER |
TIMES |
3.65 |
5.28 |
4.96 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
70.67 |
42.84 |
49.60 |
|
CASH CONVERSION CYCLE |
DAYS |
104.23 |
74.32 |
58.32 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
94.71 |
94.37 |
94.90 |
|
SELLING & ADMINISTRATION |
% |
2.44 |
2.34 |
2.54 |
|
INTEREST |
% |
0.39 |
0.16 |
0.24 |
|
GROSS PROFIT MARGIN |
% |
6.32 |
6.12 |
5.78 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.74 |
3.78 |
3.24 |
|
NET PROFIT MARGIN |
% |
2.32 |
2.50 |
2.43 |
|
RETURN ON EQUITY |
% |
22.35 |
27.49 |
24.32 |
|
RETURN ON ASSET |
% |
4.73 |
7.45 |
7.68 |
|
EARNING PER SHARE |
BAHT |
718.23 |
795.10 |
580.58 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.79 |
0.73 |
0.68 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.73 |
2.69 |
2.16 |
|
TIME INTEREST EARNED |
TIMES |
9.66 |
24.07 |
13.65 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(2.71) |
33.30 |
|
|
OPERATING PROFIT |
% |
(3.77) |
55.63 |
|
|
NET PROFIT |
% |
(9.67) |
36.95 |
|
|
FIXED ASSETS |
% |
(3.25) |
(1.95) |
|
|
TOTAL ASSETS |
% |
42.30 |
41.22 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -2.71%. Turnover has decreased from THB
35,598,703,661.00 in 2011 to THB 34,633,497,395.00 in 2012. While net profit
has decreased from THB 890,514,551.00 in 2011 to THB 804,415,036.00 in 2012.
And total assets has increased from THB 11,950,438,516.00 in 2011 to THB
17,005,047,287.00 in 2012.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
6.32 |
Impressive |
Industrial
Average |
5.92 |
|
Net Profit Margin |
2.32 |
Impressive |
Industrial
Average |
0.42 |
|
Return on Assets |
4.73 |
Impressive |
Industrial
Average |
0.82 |
|
Return on Equity |
22.35 |
Impressive |
Industrial
Average |
1.88 |
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 6.32%. 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. The company’s figure is
2.32% 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
4.73%, 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 22.35%, 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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.24 |
Impressive |
Industrial
Average |
1.23 |
|
Quick Ratio |
0.73 |
|
|
|
|
Cash Conversion Cycle |
104.23 |
|
|
|
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 2012, decreased from 1.38 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 0.73 times in 2012,
decreased from 0.83 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 105 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.79 |
Acceptable |
Industrial
Average |
0.64 |
|
Debt to Equity Ratio |
3.73 |
Risky |
Industrial
Average |
1.96 |
|
Times Interest Earned |
9.66 |
Impressive |
Industrial
Average |
1.39 |
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 9.67 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 0.79 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
139.91 |
Impressive |
Industrial
Average |
7.95 |
|
Total Assets Turnover |
2.04 |
Satisfactory |
Industrial
Average |
2.15 |
|
Inventory Conversion Period |
74.77 |
|
|
|
|
Inventory Turnover |
4.88 |
Impressive |
Industrial
Average |
4.58 |
|
Receivables Conversion Period |
100.13 |
|
|
|
|
Receivables Turnover |
3.65 |
Acceptable |
Industrial
Average |
5.68 |
|
Payables Conversion Period |
70.67 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.65 and 5.28 in
2012 and 2011 respectively. This ratio measures the efficiency of the company in
managing its trade debtors to generate revenue. 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 2012
decreased from 2011. 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 increased from 48 days at the
end of 2011 to 75 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 7.6 times in year 2011 to 4.88 times
in year 2012.
The company's Total Asset Turnover is calculated as 2.04 times and 2.98
times in 2012 and 2011 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.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.