MIRA
INFORM REPORT
|
Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
NITAS TESSILE CO., LTD. |
|
|
|
|
Registered Office : |
136 Sukhumvit 87 Road, Bangchak, Prakanong, Bangkok 10260 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
02.08.1991 |
|
|
|
|
Com. Reg. No.: |
0105534072945 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Distributor and Exporter of Interior Decoration Products |
|
|
|
|
No. of Employees : |
40 |
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, 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 crisis 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
NITAS
TESSILE CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 136
SUKHUMVIT 87 ROAD,
BANGCHAK,
PRAKANONG, BANGKOK
10260, THAILAND
TELEPHONE : [66] 2333-0666
FAX :
[66] 2332-3433-4
E-MAIL
ADDRESS : nitas@nitas-tessile.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1991
REGISTRATION
NO. : 0105534072945 [Former : 7294/2534]
TAX
ID NO. : 3011000342
CAPITAL REGISTERED : BHT. 20,000,000
CAPITAL PAID-UP : BHT.
20,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PANA TRANGKABANCHA, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 40
LINES
OF BUSINESS : INTERIOR DECORATION
PRODUCTS
IMPORTER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on August
2, 1991 as
a private limited
company under the
name style NITAS TESSILE
CO., LTD. by
Thai groups, with
the business objective
to distribute fabrics
for interior decoration.
It currently employs
40 staff.
The subject’s registered address
was initially located at 22 Sukhumvit 7 Rd.,
Klongtoeynua, Klongtoey, Bangkok
10110.
On December 14,
2011, its registered
address was relocated
to 136 Sukhumvit
87 Rd., Bangchak, Prakanong,
Bangkok 10260, and this
is the subject’s
current business address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Pana Trangkabancha |
[x] |
Thai |
54 |
|
Mr. Chalay Vuthanant |
|
Thai |
59 |
|
Mrs. Malinee Laohaserikul |
|
Thai |
55 |
|
Mr. Supachai Ngammongkolrat |
[x] |
Thai |
59 |
|
Mrs. Ratiya Chantarathien |
|
Thai |
56 |
|
Mrs. Vilai Pinpolchumsaeng |
|
Thai |
55 |
|
Mrs. Bang-orn Duangdee |
|
Thai |
58 |
AUTHORIZED PERSON
Both of the mentioned
directors [x] can
jointly sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Pana Trangkabancha is
the Managing Director.
He is Thai
nationality with the
age of 54
years old.
Mr. Supachai Ngammongkolrat is
the Marketing Manager.
He is Thai
nationality with the
age of 59
years old.
Ms. Soontree Chontaweechoke is
the Export Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activity
is a distributor
of fabric for
curtain and upholstery
production, including curtain
fitting and accessories,
as well as
rolled fabric and
curtains. The subject also
exports a locally
made rolled fabric
to overseas customers.
MAJOR BRANDS
“FABRIZIA”, “JULIET”, “MELODY”,
“OSCAR”, “HAMLET”, “SAMANTHA”,
“SKYLINE”, “LORENZO”, “HACIENDA”
and etc.
Subject also provides
curtain design and
installation services.
PURCHASE
60% of the
products is purchased
from local suppliers,
and the remaining
40% is imported
from Italy, United
Kingdom, Republic of China,
India, Japan, Hong Kong
and France. The
subject currently purchases
the products from
over 10 local manufactures
and 3 agents.
SALES
90% of the
products is sold
locally by wholesale
to dealers, contractors
and upholstery manufacturers, and the remaining 10% is
exported to traders
in Indonesia, India,
Taiwan, Malaysia, Vietnam
and the countries
in Africa and
Middle East Region.
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.
SUBSIDIARY AND AFFILIATED COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
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.
BUSINESS TRANSACTION
The products are
sold by cash
and credit, with
the maximum credit
given at 30-60
days. It is not
found the subject has problem
on its account
receivable and account
payable.
BANKING
Kasikornbank Public Co., Ltd.
[Sukhumvit 57
Branch : 1147 Sukhumvit
Rd., Klongton, Wattana,
Bangkok 10110]
EMPLOYMENT
The subject employs
40 staff. [office
and sales staff]
LOCATION DETAILS
The premise is rented for
administrative office in a 3 story
building of 2 row
shop houses at
the heading address.
Premise is located
in commercial/residential area.
Showroom is located
at 59 Sukhumvit
89 Rd., Bangchak,
Prakanong, Bangkok 10260.
Tel : [66] 2740-3877-9.
Note:
Refer to your
given name “Nita
Tessile Co., Ltd.”, please be
informed that, the
correct name should
be “Nitas Tessile
Co., Ltd.”
COMMENT
The country’s overall
housing market still
has positive outlook. Sales
of decoration products
also look on the
rise. This has also linked to rising demand
of house decoration
products and services.
Subject reported its
moderate sales in the
first six months of
this year.
FINANCIAL INFORMATION
The capital was
registered at Bht. 5,000,000 divided
into 50,000 shares
of Bht. 100
each.
On December 16, 1998
the capital was
increased to Bht. 20,000,000
divided into 200,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Pana Trangkabancha Nationality: Thai Address : 215/5
Moo 1, Pakklongbangplakod,
Phrasamutjadee, Samutprakarn |
70,000 |
35.00 |
|
Mr. Chalay Vuthanant Nationality: Thai Address : 266 Moo
4, Bangmod, Rajburana,
Bangkok 10150 |
60,000 |
30.00 |
|
Mrs. Malinee Laohaserikul Nationality: Thai Address : 236- 238
Charoenmuang Rd., Wangmai,
Pathumwan, Bangkok |
20,000 |
10.00 |
|
Mr. Supachai Ngammongkolrat Nationality: Thai Address : 138/39
Samsen Rd., Vajira,
Dusit,
Bangkok 10300 |
20,000 |
10.00 |
|
Mrs. Vilai Pinpolchumsaeng Nationality: Thai Address : 236- 238
Charoenmuang Rd., Wangmai,
Pathumwan, Bangkok |
10,000 |
5.00 |
|
Mrs. Bang-orn Duangdee Nationality: Thai Address : 178
Charoenkrung Rd., Watphryakrai,
Bangkorlaem, Bangkok 10120 |
10,000 |
5.00 |
|
Mrs. Ratiya Chantarathien Nationality: Thai Address : 634
Sukhumvit 65 Rd.,
Prakanong,
Wattana, Bangkok 10110 |
10,000 |
5.00 |
Total Shareholders : 7
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
200,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
200,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sawat Phumpakdee No.
4976
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
11,148,173.29 |
11,954,919.63 |
11,747,845.13 |
|
Trade Accounts Receivable |
27,029,876.24 |
23,709,168.93 |
30,689,590.46 |
|
Short-term Lending to Person
or Related Company |
- |
- |
730,000.00 |
|
Inventories |
67,448,173.34 |
43,489,617.42 |
27,871,700.92 |
|
Other Current Assets
|
3,245,631.68 |
3,951,870.55 |
51,192,129.48 |
|
|
|
|
|
|
Total Current Assets
|
108,871,854.55 |
83,105,576.53 |
122,231,265.99 |
|
Other Long-term Investment |
8,462,155.65 |
8,000,000.00 |
8,000,000.00 |
|
Fixed Assets |
108,651,688.17 |
108,100,777.77 |
107,949,397.07 |
|
Other Non-current Assets |
57,189,339.18 |
56,557,705.71 |
3,553,242.80 |
|
Total Assets |
283,175,037.55 |
255,764,060.01 |
241,733,905.86 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft |
221,134,592.92 |
195,435,555.71 |
185,458,528.58 |
|
Trade Accounts & Other
Payable |
9,542,067.47 |
12,119,195.35 |
15,727,464.74 |
|
Other Current Liabilities |
12,307,477.18 |
12,308,823.16 |
3,743,264.26 |
|
|
|
|
|
|
Total Current Liabilities |
242,984,137.57 |
219,863,574.22 |
204,929,257.58 |
|
Other Liabilities |
1,344,618.79 |
1,342,141.87 |
3,502,648.88 |
|
Total Liabilities |
244,328,756.36 |
221,205,716.09 |
208,431,906.46 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value authorized, issued
and fully paid share
capital 200,000 shares |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
|
|
|
|
|
Capital Paid |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
Retained Earning -
Unappropriated |
18,846,281.19 |
14,558,343.92 |
13,301,999.40 |
|
Total Shareholders' Equity |
38,846,281.19 |
34,558,343.92 |
33,301,999.40 |
|
Total Liabilities &
Shareholders' Equity |
283,175,037.55 |
255,764,060.01 |
241,733,905.86 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
143,643,379.85 |
136,612,081.01 |
127,823,170.72 |
|
Other Income |
714,289.54 |
928,157.25 |
111,717.92 |
|
Total Revenues |
144,357,669.39 |
137,540,238.26 |
127,934,888.64 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Change in Value of
Finished Goods & Work in
Process |
[23,958,555.92] |
[15,617,916.50] |
[7,307,594.79] |
|
Payments counts as
expenses |
102,995,698.99 |
94,217,091.08 |
85,976,018.30 |
|
Employees Expenses |
25,007,899.95 |
23,392,112.30 |
25,490,259.01 |
|
Depreciation & Amortization
|
3,364,176.45 |
3,268,642.30 |
3,724,047.90 |
|
Other Expenses |
23,978,893.43 |
24,551,105.71 |
15,736,218.92 |
|
Total Expenses |
131,388,112.90 |
129,811,034.89 |
123,618,949.34 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost & Income Tax |
12,969,556.49 |
7,729,203.37 |
4,315,939.30 |
|
Financial Cost |
[7,360,706.31] |
[5,718,478.88] |
[3,489,519.02] |
|
Profit / [Loss] before Income Tax |
5,608,850.18 |
2,010,724.49 |
826,420.28 |
|
Income Tax |
[1,320,912.91] |
[754,379.97] |
[452,863.15] |
|
|
|
|
|
|
Net Profit / [Loss] |
4,287,937.27 |
1,256,344.52 |
373,557.13 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.45 |
0.38 |
0.60 |
|
QUICK RATIO |
TIMES |
0.16 |
0.16 |
0.21 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.32 |
1.26 |
1.18 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.51 |
0.53 |
0.53 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
239.03 |
168.48 |
118.33 |
|
INVENTORY TURNOVER |
TIMES |
1.53 |
2.17 |
3.08 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
68.68 |
63.35 |
87.63 |
|
RECEIVABLES TURNOVER |
TIMES |
5.31 |
5.76 |
4.17 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
33.82 |
46.95 |
66.77 |
|
CASH CONVERSION CYCLE |
DAYS |
273.89 |
184.88 |
139.19 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
71.70 |
68.97 |
67.26 |
|
SELLING & ADMINISTRATION |
% |
19.75 |
19.52 |
22.86 |
|
INTEREST |
% |
5.12 |
4.19 |
2.73 |
|
GROSS PROFIT MARGIN |
% |
28.79 |
31.71 |
32.83 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
9.03 |
5.66 |
3.38 |
|
NET PROFIT MARGIN |
% |
2.99 |
0.92 |
0.29 |
|
RETURN ON EQUITY |
% |
11.04 |
3.64 |
1.12 |
|
RETURN ON ASSET |
% |
1.51 |
0.49 |
0.15 |
|
EARNING PER SHARE |
BAHT |
21.44 |
6.28 |
1.87 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.86 |
0.86 |
0.86 |
|
DEBT TO EQUITY RATIO |
TIMES |
6.29 |
6.40 |
6.26 |
|
TIME INTEREST EARNED |
TIMES |
1.76 |
1.35 |
1.24 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
5.15 |
6.88 |
|
|
OPERATING PROFIT |
% |
67.80 |
79.09 |
|
|
NET PROFIT |
% |
241.30 |
236.32 |
|
|
FIXED ASSETS |
% |
0.51 |
0.14 |
|
|
TOTAL ASSETS |
% |
10.72 |
5.80 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 5.15%. Turnover has increased from THB 136,612,081.01
in 2011 to THB 143,643,379.85 in 2012. While net profit has increased from THB
1,256,344.52 in 2011 to THB 4,287,937.27 in 2012. And total assets has
increased from THB 255,764,060.01 in 2011 to THB 283,175,037.55 in 2012.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
28.79 |
Impressive |
Industrial
Average |
19.52 |
|
Net Profit Margin |
2.99 |
Impressive |
Industrial
Average |
1.17 |
|
Return on Assets |
1.51 |
Acceptable |
Industrial
Average |
2.14 |
|
Return on Equity |
11.04 |
Impressive |
Industrial
Average |
6.50 |
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 28.79%. 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 2.99%, 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. When compared with the
industry average, it was lower, the
company's figure is 1.51%.
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 11.04%, 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 : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.45 |
Risky |
Industrial
Average |
1.48 |
|
Quick Ratio |
0.16 |
|
|
|
|
Cash Conversion Cycle |
273.89 |
|
|
|
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 0.45 times in 2012, increased from 0.38 times, then the company may not be
efficiently using its current assets. 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 0.16 times in 2012,
same figure as 0.16 times in 2011, 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 274 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.86 |
Acceptable |
Industrial
Average |
0.69 |
|
Debt to Equity Ratio |
6.29 |
Risky |
Industrial
Average |
2.23 |
|
Times Interest Earned |
1.76 |
Impressive |
Industrial Average |
0.53 |
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 1.77 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 0.86 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 Uptrend
Times Interest Earned Downtrend
ACTIVITY :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.32 |
Acceptable |
Industrial
Average |
2.40 |
|
Total Assets Turnover |
0.51 |
Deteriorated |
Industrial
Average |
1.84 |
|
Inventory Conversion Period |
239.03 |
|
|
|
|
Inventory Turnover |
1.53 |
Deteriorated |
Industrial
Average |
5.25 |
|
Receivables Conversion Period |
68.68 |
|
|
|
|
Receivables Turnover |
5.31 |
Impressive |
Industrial
Average |
2.73 |
|
Payables Conversion Period |
33.82 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.31 and 5.76 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 168 days at the
end of 2011 to 239 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 2.17 times in year 2011 to 1.53 times
in year 2012.
The company's Total Asset Turnover is calculated as 0.51 times and 0.53
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 Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.66 |
|
|
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.87.74 |
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.