MIRA
INFORM REPORT
|
Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL
FARMING EQUIPMENT LIMITED |
|
|
|
|
Registered Office : |
27/20-21 Luang
Road, Banbart, Pomprab, Bangkok 10100 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
23.06.2012 |
|
|
|
|
Date of Incorporation : |
24.06.1981 |
|
|
|
|
Com. Reg. No.: |
0105524013920 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
importer
and distributor of tractor
diesel engines, spare
parts & Accessories |
|
|
|
|
No. of Employees : |
20 |
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 : |
Regular |
|
|
|
|
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
INTERNATIONAL FARMING
EQUIPMENT LIMITED
SUMMARY
BUSINESS ADDRESS : 27/20-21 LUANG
ROAD, BANBART, POMPRAB, BANGKOK 10100,
THAILAND
TELEPHONE : [66] 2221-4115-6,
2225-4052, 2221-4140, 2621-2622
FAX :
[66] 2225-4053,
2621-2621
E-MAIL ADDRESS : ifel@access.inet.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1981
REGISTRATION NO. : 0105524013920
TAX ID NO. : 310155198
CAPITAL REGISTERED : BHT. 50,000,000
CAPITAL PAID-UP : BHT.
50,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : JUNE
23
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
BOONLERT ARCHAKRAISORN, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 20
LINES
OF BUSINESS : TRACTOR EQUIPMENT,
SPARE PARTS AND
ACCESSORIES
IMPORTER 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 June
24, 1981 as
a private limited
company under the name style INTERNATIONAL FARMING EQUIPMENT
LIMITED by Thai groups, Wangwongviroj
and Archakraisorn families. Its business
objective is to import
and distribute tractor
equipments and parts
to local market.
It currently employs
approximately 20 staff.
The subject’s registered address was initially
located at 64-66
Luang Rd., Banbart,
Pomprab, Bangkok 10100.
On November 14,
1994, the subject’s
registered address was
relocated to 27/20-21
Luang Rd., Banbart, Pomprab, Bangkok 10100, and
this is the company’s
current operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Paiboon Wangwongviroj |
|
Thai |
65 |
|
Mr. Porameth Wangwongviroj |
|
Thai |
38 |
|
Mr. Boonlert Archakraisorn |
|
Thai |
64 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Boonlert Archakraisorn is
the Managing Director.
He is Thai
nationality with the
age of 64
years old.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing of
tractor diesel engines,
spare parts under
local and international
brands, such as “FORD”, “MASSEY FERGUSON”,
“JOHN DEERE”, “BEPCO”, “JCB”,
“CNH”, “NEW HOLLAND”, “POWERPACK”,
“AIP”, “BOMAG”, “PERKINS”
and etc., as
well as other
spare parts and
accessories, under various
names as follows:
Products Brand
Gear “TAS”
Fuel pump parts “DELPHI”, “LUCAS”,
“CAV”, “FCM”, “BCD”
Engine parts “AE”, “FEDERAL
MOGUL”, “TRW”, “ACL”
O-ring “PAYEN”, “FP
DIESEL”, “GLASER”
Oil/water pumps “CP”
Seal “PIONEER WESTON”
Blade “BLACK CAT”
The subject is
also the Thailand’s authorized dealer of “NIAUX200” agriculture machine’s parts
from France.
PURCHASE
60% of the
products is imported
from overseas suppliers
in France, Germany, United Kingdom, Italy, Canada, United States of
America and Spain, the remaining 40% is
purchased from local
suppliers.
MAJOR SUPPLIERS
Forges De Niaux
S.A. : France
Bepco [U.K] Ltd. : United
Kingdom
Deere & Company : United
States of America
Bomag GmbH. : Germany
Agricultural & Industrial
Parts Ltd. : United Kingdom
Black Cat Blades
Ltd. : Canada
Federal Mogul Corporation : United
States of America
SALES
100% of the products is sold locally to wholesalers [90%], retailers
and end-users [10%].
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
by cash or
on the credits
term of 30-60
days.
Imports are by
L/C at sight
or T/T.
BANKING
Kasikornbank Public Co.,
Ltd.
[Jarurat Branch:
1091/43-5 New Petchburi
Rd., Makkasan Rajthevee,
Bangkok 10400]
Bangkok Bank Public
Co., Ltd.
[Pubplachai Branch : 9
Suapa Rd., Pubplachai,
Samphantawong, Bangkok 10100]
EMPLOYMENT
The subject employs
approximately 20 staff
comprising office and
sales staff.
LOCATION DETAILS
The premise is
rented for administrative office
and showroom at the heading
address. Premise is
located in commercial/residential area.
Branch office is
located at 55/22
Moo 14, Soi
Srivijarn, Prachachuen Rd.,
Bangsue, Bangkok 10300.
COMMENT
The subject
mainly provides agricultural
machine and equipment including tractors’ parts.
The subject’s business performance
in 2012 was
good. Growth of
industrial sector had
a better change
to subject’s business performance in
the previous year.
However,
consumption slowdown in
the year 2013 has
resulted to slow growth
and expansion of
industrial sector too.
It is estimated
that the subject’s business performance
would growth at
slower pace this year.
FINANCIAL INFORMATION
The capital was initially registered
at Bht. 3,000,000 divided into
3,000 shares of Bht. 1,000 each.
The capital was
increased later as
followings:
Bht. 10,000,000
on October 1,
2001
Bht. 30,000,000
on February 11, 2003
Bht. 50,000,000
on November 30,
2005
The latest registered
capital was increased
to Bht. 50,000,000 divided
into 50,000 shares
of Bht. 1,000
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as
at October 21, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Boonlert Archakraisorn Nationality: Thai Address : 34
Soonthornkosa Rd., Klongtoey, Prakanong, Bangkok 10110 |
23,500 |
47.00 |
|
Mr. Paiboon Wangwongviroj Nationality: Thai Address : 55/22
Moo 14, Soi Srivijarn,
Prachachuen Rd., Bangsue,
Bangkok 10800 |
15,000 |
30.00 |
|
Mr. Porameth Wangwongviroj Nationality: Thai Address : 55/22
Moo 14, Soi Srivijarn,
Prachachuen Rd., Bangsue,
Bangkok 10800 |
5,000 |
10.00 |
|
Ms. Athita Wangwongviroj Nationality: Thai Address : 55/22
Moo 14, Soi Srivijarn,
Prachachuen Rd., Bangsue,
Bangkok 10800 |
5,000 |
10.00 |
|
Mr. Teerawat Archakraisorn Nationality: Thai Address : 459/9-10 Rama 4 Rd., Rongmuang,
Pathumwan, Bangkok |
500 |
1.00 |
|
Ms. Teeraporn Archakraisorn Nationality: Thai Address : 45/9-10
Rama 4 Rd., Rongmuang,
Pathumwan, Bangkok 10330 |
500 |
1.00 |
|
Ms. Sopha Suneesukhawatana Nationality: Thai Address : 45/9-10
Rama 4 Rd., Rongmuang, Pathumwan, Bangkok 10330 |
500 |
1.00 |
Total Shareholders : 7
Share Structure [as
at October 21,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
50,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
50,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Lapatthorn Promviset No.
4689
BALANCE SHEET [BAHT]
The
latest financial figures
published for June
23, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash
Equivalents |
12,348,985.84 |
12,947,878.25 |
11,571,062.99 |
|
Trade Accounts Receivable |
33,586,180.90 |
17,231,195.22 |
35,385,267.58 |
|
Inventories |
71,180,679.78 |
62,399,688.81 |
54,512,692.72 |
|
Other Current Assets
|
3,304,000.33 |
4,603,509.05 |
558,456.36 |
|
Total Current Assets
|
120,419,846.85 |
97,182,271.33 |
102,027,479.65 |
|
Fixed Assets |
2,364,885.60 |
1,915,644.74 |
1,103,258.33 |
|
Other Non-current Assets |
1,019,825.02 |
1,019,825.02 |
1,019,825.02 |
|
Total Assets |
123,804,557.47 |
100,117,741.09 |
104,150,563.00 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts Payable |
8,857,047.77 |
3,070,996.68 |
2,098,066.83 |
|
Accrued Income Tax |
5,621,883.24 |
873,781.00 |
3,541,308.81 |
|
Audit Fees Payable |
10,000.00 |
10,000.00 |
10,000.00 |
|
Accrued Other Expenses |
2,992,351.29 |
2,243,225.53 |
2,278,046.51 |
|
Total Current Liabilities |
17,481,282.30 |
6,198,003.21 |
7,927,422.15 |
|
|
|
|
|
|
Loan from Related Person |
- |
6,000,000.00 |
14,000,000.00 |
|
Total Liabilities |
17,481,282.30 |
12,198,003.21 |
21,927,422.15 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
value authorized, issued
and fully paid share
capital 50,000 shares |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Capital Paid |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Retained Earning -
Unappropriated |
56,323,275.17 |
37,919,737.88 |
32,223,140.85 |
|
Total Shareholders' Equity |
106,323,275.17 |
87,919,737.88 |
82,223,140.85 |
|
Total Liabilities &
Shareholders' Equity |
123,804,557.47 |
100,117,741.09 |
104,150,563.00 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
161,359,302.62 |
134,758,475.88 |
145,582,147.30 |
|
Other Income |
2,151,190.97 |
3,876,150.31 |
5,783,755.45 |
|
Interest Income |
150,957.93 |
73,883.58 |
208,774.90 |
|
Total Revenues |
163,661,451.52 |
138,708,509.77 |
151,574,677.65 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
126,756,682.28 |
118,638,385.15 |
126,147,705.33 |
|
Selling Expenses |
3,115,400.00 |
2,665,375.00 |
2,839,815.00 |
|
Administrative Expenses |
7,493,809.54 |
8,431,416.02 |
7,574,719.46 |
|
Total Expenses |
137,365,891.82 |
129,735,176.17 |
136,562,239.79 |
|
Profit Before Financial
Cost & Income Tax |
26,295,559.70 |
8,973,333.60 |
15,012,437.86 |
|
Financial Cost |
[4,667.23] |
[2,738.90] |
[938.30] |
|
Profit Before Income Tax |
26,290,892.47 |
8,970,594.70 |
15,011,499.56 |
|
Income Tax |
[7,887,355.18] |
[3,273,997.67] |
[4,518,617.33] |
|
Net Profit / [Loss] |
18,403,537.29 |
5,696,597.03 |
10,492,882.23 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
6.89 |
15.68 |
12.87 |
|
QUICK RATIO |
TIMES |
2.63 |
4.87 |
5.92 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
68.23 |
70.35 |
131.96 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.30 |
1.35 |
1.40 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
204.97 |
191.98 |
157.73 |
|
INVENTORY TURNOVER |
TIMES |
1.78 |
1.90 |
2.31 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
75.97 |
46.67 |
88.72 |
|
RECEIVABLES TURNOVER |
TIMES |
4.80 |
7.82 |
4.11 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
25.50 |
9.45 |
6.07 |
|
CASH CONVERSION CYCLE |
DAYS |
255.44 |
229.20 |
240.38 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
78.56 |
88.04 |
86.65 |
|
SELLING & ADMINISTRATION |
% |
6.57 |
8.23 |
7.15 |
|
INTEREST |
% |
0.00 |
0.00 |
0.00 |
|
GROSS PROFIT MARGIN |
% |
22.87 |
14.89 |
17.47 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
16.30 |
6.66 |
10.31 |
|
NET PROFIT MARGIN |
% |
11.41 |
4.23 |
7.21 |
|
RETURN ON EQUITY |
% |
17.31 |
6.48 |
12.76 |
|
RETURN ON ASSET |
% |
14.86 |
5.69 |
10.07 |
|
EARNING PER SHARE |
BAHT |
368.07 |
113.93 |
209.86 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.14 |
0.12 |
0.21 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.16 |
0.14 |
0.27 |
|
TIME INTEREST EARNED |
TIMES |
5,634.08 |
3,276.25 |
15,999.61 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
19.74 |
(7.43) |
|
|
OPERATING PROFIT |
% |
193.04 |
(40.23) |
|
|
NET PROFIT |
% |
223.06 |
(45.71) |
|
|
FIXED ASSETS |
% |
23.45 |
73.64 |
|
|
TOTAL ASSETS |
% |
23.66 |
(3.87) |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 19.74%. Turnover has increased from THB
134,758,475.88 in 2011 to THB 161,359,302.62 in 2012. While net profit has
increased from THB 5,696,597.03 in 2011 to THB 18,403,537.29 in 2012. And total
assets has increased from THB 100,117,741.09 in 2011 to THB 123,804,557.47 in
2012.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
22.87 |
Acceptable |
Industrial
Average |
31.32 |
|
Net Profit Margin |
11.41 |
Impressive |
Industrial
Average |
2.80 |
|
Return on Assets |
14.86 |
Impressive |
Industrial
Average |
8.30 |
|
Return on Equity |
17.31 |
Satisfactory |
Industrial
Average |
20.80 |
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 22.87%. 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 11.41%, 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
14.86%, 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 17.31%.
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 |
6.89 |
Impressive |
Industrial
Average |
1.53 |
|
Quick Ratio |
2.63 |
|
|
|
|
Cash Conversion Cycle |
255.44 |
|
|
|
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 6.89 times in 2012, decreased from 15.68 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 2.63 times in 2012,
decreased from 4.87 times, although excluding inventory so the company still
have good short-term financial strength.
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 256 days.
Trend of the average
competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.14 |
Impressive |
Industrial
Average |
0.59 |
|
Debt to Equity Ratio |
0.16 |
Impressive |
Industrial
Average |
1.37 |
|
Times Interest Earned |
5,634.08 |
Impressive |
Industrial
Average |
1.53 |
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 5634.09 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 0.14 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 Downtrend
ACTIVITY :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
68.23 |
Impressive |
Industrial
Average |
2.96 |
|
Total Assets Turnover |
1.30 |
Deteriorated |
Industrial
Average |
2.95 |
|
Inventory Conversion Period |
204.97 |
|
|
|
|
Inventory Turnover |
1.78 |
Deteriorated |
Industrial
Average |
10.18 |
|
Receivables Conversion Period |
75.97 |
|
|
|
|
Receivables Turnover |
4.80 |
Satisfactory |
Industrial
Average |
5.07 |
|
Payables Conversion Period |
25.50 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.80 and 7.82 in
2012 and 2011 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 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 192 days at the
end of 2011 to 205 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 1.9 times in year 2011 to 1.78 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.3 times and 1.35
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.67 |
|
UK Pound |
1 |
Rs.102.20 |
|
Euro |
1 |
Rs.87.75 |
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.