MIRA INFORM REPORT
|
Report Date : |
10.07.2013 |
7IDENTIFICATION DETAILS
|
Name : |
TEX TECH INDUSTRIES [THAILAND] LTD. |
|
|
|
|
Registered Office : |
89 Moo 2, Soi
Wadthiendad Road, T.
Banmai, A. Sampran, Nakornpathom 73110
|
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
21.09.1999 |
|
|
|
|
Com. Reg. No.: |
0105542072045 [Former :
1132/2542] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Exporter of Flannels |
|
|
|
|
No. of Employees : |
150 |
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 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
TEX TECH
INDUSTRIES [THAILAND] LTD.
SUMMARY
BUSINESS ADDRESS : 89 MOO 2, SOI
WADTHIENDAD ROAD,
T.
BANMAI, A. SAMPRAN,
NAKORNPATHOM 73110
TELEPHONE : [66] 34
295-489-91
FAX : [66] 34
295-492
E-MAIL ADDRESS : lisa@textech.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1999
REGISTRATION NO. : 0105542072045 [Former
: 1132/2542]
TAX ID NO. : 3701028427
CAPITAL REGISTERED : BHT.
40,000,000
CAPITAL PAID-UP : BHT.
40,000,000
SHAREHOLDER’S PROPORTION : FOREIGN : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
CIARAN FRANCIS LYNCH,
IRISH
MANAGING DIRECTOR
NO. OF STAFF : 150
LINES OF BUSINESS : FLANNELS
MANUFACTURER,
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 September 21, 1999 as a
private limited company
under the name
style TEX TECH
INDUSTRIES [THAILAND] LTD.
by foreign groups.
It is a subsidiary of
Tex Tech Industries
Inc., U.S.A. to
manufacture flannel for
both domestic and
overseas markets. It
currently employs approximately 150 staff.
The subject’s registered
address is 89 Moo 2,
Soi Wadthiendad Rd.,
T. Banmai,
A. Sampran Nakornpathom 73110,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Ciaran Francis Lynch |
|
Irish |
57 |
|
Mr. Stephen John Judge |
|
American |
65 |
|
Mrs. Bu-nga Bowman |
|
Thai |
48 |
|
Mr. Stephen Rogers |
|
Irish |
33 |
AUTHORIZED PERSON
Any of the
above directors can
sign on behalf of
the subject with
company’s
affixed.
MANAGEMENT
Mr. Ciaran Francis Lynch
is the Managing
Director.
He is Irish
nationality with the
age of 57
years old.
Mrs. Bu-nga Bowman
is the Financial
Controller and Human
Resources Manager.
She is Thai
nationality with the
age of 48
years old.
Mr. Stephen John
Judge is the
Factory and Sales
Manager.
He is American
nationality with the
age of 65
years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, exporting
and distributing of
flannel, a raw
material for tennis
ball production.
PRODUCTION CAPACITY
830,000 meters per
year
PURCHASE
Most of raw
materials mainly polyester
yarn is purchased
from local suppliers,
the remaining is imported from United States of America,
Republic of China, India, and
Germany.
MAJOR SUPPLIERS
Tex Tech Industries
Inc. :
United States of
America
Thai Polyester Co.,
Ltd. : Thailand
Star Synthetic Yarn
Co., Ltd. : Thailand
SALES [LOCAL]
The products are sold
by wholesale to
manufacturers both domestic
and overseas, which
70% is exported
to Republic of
China, Indonesia, India, Taiwan, United Kingdom, Japan, Hong Kong, Vietnam
and United States
of America, and
the remaining 30%
is sold locally.
MAJOR CUSTOMERS
Wilson Sporting Goods
Co., Ltd. : U.S.A.
Dunlop International Ltd. : U.K.
Penn Inc. : U.S.A.
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
30-60-90 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 150 staff.
[office staff and
factory workers]
LOCATION DETAILS
The premise is
owned for administrative office,
factory I and warehouse
at the heading
address. Premise is
located in industrial
area.
Factory II : 9/2
Moo 3, T. Banmai.
A. Sampran, Nakornpathom 73110.
COMMENT
With the strong management and production processing fundamental
supported by the subject’s parent company in U.S.A. has led the company the leading in producing flannel for making tennis balls. Since it has
been established in Thailand, the subject has grown rapidly with demand has
continued increasing each year.
Its business is
promising and growing significantly.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 10,000 divided into
1,000 shares of
Bht. 100 each
with fully paid.
On August 7, 2000,
the capital was
increased to Bht. 40,000,000
divided into 4,000,000
shares of Bht.
10 each with
fully paid.
THE SHAREHOLDERS LISTED WERE
[as at
April 22, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Tex Tech Industries
Inc. Nationality: American Address : 8th Flr., One
City Building, Portland
Main, U.S.A. |
3,959,996 |
99.00 |
|
TTI Thailand Holdings
Inc. Nationality: American Address : 8th Flr., One
City Building, Portland
Main, U.S.A. |
40,000 |
1.00 |
|
Mr. John Stangiwich Nationality: American Address : 8th Flr., One
City Building, Portland
Main, U.S.A. |
1 |
- |
|
Mr. Ciaran Francis
Lynch Nationality: Irish Address : 8th Flr., One
City Building, Portland
Main, U.S.A. |
1 |
- |
|
Mrs. Bu-nga Bowman Nationality: Thai Address : 22/44 Moo
6, T. Salaya, A. Budhamonthon, Nakornpathom |
1 |
- |
|
Mr. Stephen John
Judge Nationality: American Address : 8th Flr., One
City Building Portland
Main, U.S.A. |
1 |
- |
Total Shareholders : 6
Share Structure
[as at April
22, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
1 |
- |
|
Foreign |
5 |
3,999,999 |
100.00 |
|
Total |
6 |
4,000,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT
NO.
Mr. Nathapol Sriboonruangrith No.
5226
BALANCE SHEET [BAHT]
The latest financial
figures published for
December 31, 2012,
2011 & 2010
were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash in hand
& at Bank |
678,275.19 |
5,971,741.95 |
94,868.65 |
|
Trade Accounts Receivable |
|
|
|
|
- Related Company |
- |
17,929,760.17 |
50,000,914.59 |
|
- Other Company |
90,676,690.72 |
61,574,624.38 |
67,119,614.82 |
|
Other Receivable - Related Company |
519,216.00 |
4,272,048.18 |
3,240,155.59 |
|
- Other Company |
4,050,082.03 |
2,927,646.34 |
1,386,437.02 |
|
Inventories |
93,147,943.78 |
79,236,102.81 |
62,133,284.52 |
|
Other Current Assets
|
297,489.51 |
59,318.04 |
775,139.17 |
|
|
|
|
|
|
Total Current Assets
|
189,369,697.23 |
171,971,241.87 |
184,750,414.36 |
|
Cash at Bank Pledged as
a Collateral |
11,424,523.13 |
11,775,086.24 |
21,698,280.60 |
|
Fixed Assets |
104,634,535.42 |
87,067,142.73 |
56,901,258.42 |
|
Deposit |
223,372.90 |
162,772.90 |
194,472.90 |
|
Total Assets |
305,652,128.68 |
270,976,243.74 |
263,544,426.28 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loans |
135,751,352.35 |
119,082,711.56 |
125,268,426.65 |
|
Trade Accounts Payable - Related Company |
35,230,713.68 |
47,647,100.90 |
51,749,239.19 |
|
- Other Company |
36,333,815.94 |
45,200,200.75 |
- |
|
Current Portion of
Financial Lease Contact Liabilities |
326,740.64 |
308,464.46 |
- |
|
Accrued Dividend |
11,991,260.86 |
- |
8,500,000.00 |
|
Accrued Income Tax |
4,708,199.50 |
1,289,129.70 |
6,273,370.54 |
|
Accrued Expenses |
2,715,230.92 |
2,256,953.13 |
3,017,163.77 |
|
Other Current Liabilities |
1,257,163.30 |
378,790.50 |
1,964,775.75 |
|
|
|
|
|
|
Total Current Liabilities |
228,314,477.19 |
216,163,351.00 |
196,772,975.90 |
|
Estimated Liabilities from Employee’s
Benefit |
2,545,711.28 |
2,272,826.72 |
- |
|
Financial Lease Contact
Liabilities, Net |
610,864.43 |
937,605.06 |
- |
|
Total Liabilities |
231,471,052.90 |
219,373,782.78 |
196,772,975.90 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
value authorized, issued
and fully paid share
capital 4,000,000 shares |
40,000,000.00 |
40,000,000.00 |
40,000,000.00 |
|
|
|
|
|
|
Capital Paid |
40,000,000.00 |
40,000,000.00 |
40,000,000.00 |
|
Retained Earnings Appropriated for Statutory Reserve |
7,208,600.00 |
7,208,600.00 |
7,208,600.00 |
|
Unappropriated |
26,972,475.78 |
4,393,860.96 |
19,562,850.38 |
|
Total Shareholders' Equity |
74,181,075.78 |
51,602,460.96 |
66,771,450.38 |
|
Total Liabilities & Shareholders' Equity |
305,652,128.68 |
270,976,243.74 |
263,544,426.28 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
494,383,104.08 |
420,402,358.49 |
440,236,914.91 |
|
Other Income |
2,474,820.93 |
366,328.72 |
262,941.12 |
|
Total Revenues |
496,857,925.01 |
420,768,687.21 |
440,499,856.03 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
401,420,985.67 |
355,480,814.90 |
330,494,107.16 |
|
Selling Expenses |
8,150,188.51 |
8,811,687.15 |
9,581,,614.99 |
|
Administrative Expenses |
50,024,620.07 |
48,289,326.84 |
50,024,607.21 |
|
Total Expenses |
459,595,794.25 |
412,581,828.89 |
390,100,329.36 |
|
|
|
|
|
|
Profit / [Loss] before Finance Costs & Income Tax |
37,262,130.76 |
8,186,858.32 |
50,399,526.67 |
|
Finance Costs |
[7,649,946.37] |
[7,065,903.88] |
[5,534,569.17] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
29,612,184.39 |
1,120,954.44 |
44,864,957.50 |
|
Income Tax |
[7,033,569.57] |
[1,289,943.86] |
[13,704,901.85] |
|
Net Profit / [Loss] |
22,578,614.82 |
[168,989.42] |
31,160,055.65 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.83 |
0.80 |
0.94 |
|
QUICK RATIO |
TIMES |
0.42 |
0.43 |
0.62 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.72 |
4.83 |
7.74 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.62 |
1.55 |
1.67 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
84.70 |
81.36 |
68.62 |
|
INVENTORY TURNOVER |
TIMES |
4.31 |
4.49 |
5.32 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
66.95 |
53.46 |
55.65 |
|
RECEIVABLES TURNOVER |
TIMES |
5.45 |
6.83 |
6.56 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
33.04 |
46.41 |
- |
|
CASH CONVERSION CYCLE |
DAYS |
118.61 |
88.41 |
124.27 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
81.20 |
84.56 |
75.07 |
|
SELLING & ADMINISTRATION |
% |
11.77 |
13.58 |
13.54 |
|
INTEREST |
% |
1.55 |
1.68 |
1.26 |
|
GROSS PROFIT MARGIN |
% |
19.30 |
15.53 |
24.99 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.54 |
1.95 |
11.45 |
|
NET PROFIT MARGIN |
% |
4.57 |
(0.04) |
7.08 |
|
RETURN ON EQUITY |
% |
30.44 |
(0.33) |
46.67 |
|
RETURN ON ASSET |
% |
7.39 |
(0.06) |
11.82 |
|
EARNING PER SHARE |
BAHT |
5.64 |
(0.04) |
7.79 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.76 |
0.81 |
0.75 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.12 |
4.25 |
2.95 |
|
TIME INTEREST EARNED |
TIMES |
4.87 |
1.16 |
9.11 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
17.60 |
(4.51) |
|
|
OPERATING PROFIT |
% |
355.15 |
(83.76) |
|
|
NET PROFIT |
% |
13,460.96 |
(100.54) |
|
|
FIXED ASSETS |
% |
20.18 |
53.01 |
|
|
TOTAL ASSETS |
% |
12.80 |
2.82 |
|
ANNUAL GROWTH : EXCELLENT
An annual sales growth is 17.6%. Turnover has increased from THB
420,402,358.49 in 2011 to THB 494,383,104.08 in 2012. While net profit has
increased from THB -168,989.42 in 2011 to THB 22,578,614.82 in 2012. And total
assets has increased from THB 270,976,243.74 in 2011 to THB 305,652,128.68 in
2012.
PROFITABILITY : IMPRESSIVE
PROFITABILITY RATIO
|
Gross Profit Margin |
19.30 |
Acceptable |
Industrial Average |
26.55 |
|
Net Profit Margin |
4.57 |
Impressive |
Industrial Average |
1.01 |
|
Return on Assets |
7.39 |
Impressive |
Industrial Average |
1.28 |
|
Return on Equity |
30.44 |
Impressive |
Industrial Average |
2.40 |
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 19.3%. 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. Net Profit Margin ratio is 4.57%,
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
7.39%, 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 30.44%, 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 : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.83 |
Risky |
Industrial Average |
1.48 |
|
Quick Ratio |
0.42 |
|
|
|
|
Cash Conversion Cycle |
118.61 |
|
|
|
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 0.83 times in 2012, decrease from 0.8 times, then the company may have
problems meeting its short-term obligations. 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 0.42 times in 2012,
decrease from 0.43 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 119 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.76 |
Acceptable |
Industrial Average |
0.51 |
|
Debt to Equity Ratio |
3.12 |
Risky |
Industrial Average |
1.06 |
|
Times Interest Earned |
4.87 |
Impressive |
Industrial Average |
- |
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 4.88 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 0.76 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 : IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
4.72 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.62 |
Impressive |
Industrial Average |
1.27 |
|
Inventory Conversion Period |
84.70 |
|
|
|
|
Inventory Turnover |
4.31 |
Satisfactory |
Industrial Average |
4.90 |
|
Receivables Conversion Period |
66.95 |
|
|
|
|
Receivables Turnover |
5.45 |
Impressive |
Industrial Average |
2.71 |
|
Payables Conversion Period |
33.04 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.45 and 6.83 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 81 days at the
end of 2011 to 85 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 4.49 times in year 2011 to 4.31 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.62 times and 1.55 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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.07 |
|
|
1 |
Rs.89.91 |
|
Euro |
1 |
Rs.77.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.