MIRA
INFORM REPORT
|
Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
JACQUARD TEXTILE [ASIA] LIMITED |
|
|
|
|
Registered Office : |
50 Moo 2, T. Huaythachang, A. Khaoyoi, Petchburi 76140 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
12.07.1999 |
|
|
|
|
Com. Reg. No.: |
0105542049612 [Former :
[1] 456/2542] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and
Exporter of Jacquard and
Knitted Fabrics |
|
|
|
|
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 : |
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
JACQUARD TEXTILE
[ASIA] LIMITED
SUMMARY
BUSINESS ADDRESS : 50 MOO 2,
T. HUAYTHACHANG,
A.
KHAOYOI, PETCHBURI 76140
TELEPHONE : [66] 32
446-864-5
FAX : [66] 32
446-866
E-MAIL ADDRESS : sales@jacquard-textile.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1999
REGISTRATION NO. : 0105542049612 [Former
: [1] 456/2542]
TAX ID NO. : 3021028145
CAPITAL REGISTERED : BHT.
27,000,000
CAPITAL PAID-UP : BHT.
27,000,000
SHAREHOLDER’S PROPORTION : THAI
: 1.00%
FOREIGN :
99.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
STEFAN HEINKE, GERMAN
MANAGING DIRECTOR
NO. OF STAFF : 200
LINES OF BUSINESS : JACQUARD AND
KNITTED FABRICS
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 July
12, 1999 as
a private limited
company under the name style
JACQUARD TEXTILE [ASIA]
LIMITED, by and
Thai and foreign
groups, in order
to manufacture wide
range of damask
woven and knitted fabrics [jacquard textile]
by combining unique
fabric qualities with
the latest exciting,
vibrant Italian designs for
both domestic and international
markets. It currently employs
approximate 200 staff.
The subject received
the promotion privillege
from the Board
of Investment for
manufacturing jacquard and
polypropylene yarn.
The subject’s registered address
is 50 Moo
2, T. Huaythachang,
A. Khaoyoi, Petchburi 76140,
and this is
the subject’s current
operation address.
THE BOARD OF
DIRECTOR
Mr. Stefan Heinke
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Stefan Heinke
is the Managing
Director.
He is German
nationality with the
age of 49
years old.
Mr. J. Vijaya Kumar is
the Factory Manager.
He is Indian
nationality.
Mr. Axel Sommerfeld
is the Sales & Marketing Manager.
He is American
nationality.
Mr. Carl Peedell
is the Sales
Manager.
He is American
nationality.
Ms. Nitaya Pan-Laong
is the Domestic
Sales Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and servicing wide
range of damask
woven, knitted ticking
[jacquard textile] and
mattress tape, with
a capacity to
produce 600,000 linear
meters of finished
knitted goods and
1,000,000 linear meters
of finished woven
goods per month,
under its own
brand JACQUARD. The
products are as
follows:
Knitted Ticking
Woven Ticking
Mattress Tape
Polypropylene Yarn
PURCHASE
80% of raw
materials such as
polyester yarn, cotton
yarn, silk and
chemical are purchased
from local suppliers
and agents, the
remaining 20% is
imported from France,
Germany, India, Republic
of China, Taiwan
and Japan.
MAJOR SUPPLIERS
Indorama Ventures Public
Company Limited : Thailand
Indorama Polyester Industry
Public Company Limited. :
Thailand
Jong Stit Co.,
Ltd. :
Thailand
DISTRIBUTION
70% of the
products is exported to Japan, Taiwan, Singapore, Vietnam,
Hong Kong, India, Australia,
U.S.A. and many
countries in Europe,
Africa and Middle
East region, the
remaining 30% is sold
locally.
MAJOR CUSTOMERS
Jaspal & Sons Co., Ltd. : Thailand
Fairview Mattress Co.,
Ltd. : Thailand
Darling Mattress Co.,
Ltd. : Thailand
Darling Mattress Khorn
Kaen Co., Ltd. : Thailand
Diamond Mattress Company : U.S.A.
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
L/C at sight
or T/T.
BUSINESS TRANSACTION
The products are
sold to customers
mainly by credit, with
the maximum credit given at
30-60 days. The subject
is found to have late
payment by some
customer, but they
can negotiate.
BANKING
The Siam Commercial
Bank Public Co.,
Ltd.
[Head Office : 9 Ratchadapisek
Rd., Ladyao, Jatujak,
Bangkok 10900]
[Khaowang Branch :
595 Petchkasem Rd.,
Banmoh, Muang, Petchburi 76000]
EMPLOYMENT
The subject employs
approximately 200 staff.
[office staff and
factory workers]
LOCATION DETAILS
The premise is
rented for administrative office,
factory and warehouse
on 24,000 square
meters plot of
land at the
heading address. Premise
is located in
provincial, in the Southern
region.
COMMENT
Consumption improvement in home
furnishing products since the past years
has spurred demand of the
products. Household items
including furniture, mattress and
bedding products have increased to the higher level comparing to
the previous year by consumer’s spending and improving sentiment
in economy.
FINANCIAL INFORMATION
The capital was initially
registered at Bht. 24,000,000 divided
into 240,000 shares of
Bht. 100 each.
On June 22,
2000, the capital
was increased to
Bht. 27,000,000 divided
into 270,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Invest-Tech Limited Nationality: Luxembourg Address : Luxembourg |
134,998 |
50.00 |
|
Mr. Stefan Heinke Nationality: German Address : 50
Moo 2, T. Huaythachang, A. Khaoyoi, Petchburi |
113,400 |
42.00 |
|
Mr. Arnold Huns-Dietter Heinke Nationality: German Address : Germany |
16,200 |
6.00 |
|
Ms. Lamduan Choodam Nationality: Thai Address : 26
Moo 1, T. Hadchaosamran, A. Muang,
Petchburi |
2,700 |
1.00 |
|
Mr. Andreas Heinke Nationality: German Address : Germany |
2,700 |
1.00 |
|
Mr. Paolo Stellini Nationality: Italian Address : Malano,
Italy |
1 |
- |
|
Mr. Valentino Stellini Nationality: Italian Address : Milano,
Italy |
1 |
- |
Total Shareholders : 7
Share Structure
[as at April
30, 2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
2,700 |
1.00 |
|
Foreign |
6 |
267,300 |
99.00 |
|
Total |
7 |
270,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Taweechai Awanont No.
3738
BALANCE SHEET [BAHT]
The latest
financial figures published
for December 31,
2011, 2010 & 2009
were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalents |
16,774,666.99 |
56,397,523.60 |
77,646,861.00 |
|
Short-term Investment |
198,630.47 |
194,557.49 |
192,656.83 |
|
Trade Accounts Receivable |
232,867,894.06 |
157,213,180.95 |
158,821,096.57 |
|
Short-term Lending to
Person or Related Company |
- |
- |
3,116,128.27 |
|
Inventories |
103,183,918.32 |
89,228,416.20 |
80,098,184.26 |
|
Other Current Assets
|
20,659,905.90 |
7,453,068.78 |
8,495,251.19 |
|
|
|
|
|
|
Total Current Assets
|
373,685,015.74 |
310,486,747.02 |
328,370,178.12 |
|
Fixed Assets |
443,844,170.05 |
428,947,912.30 |
269,252,025.18 |
|
Other Non-current Assets |
7,138,647.88 |
5,913,667.00 |
3,735,000.00 |
|
Total Assets |
824,667,833.67 |
745,348,326.32 |
601,357,203.30 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Trade Accounts Payable |
34,360,239.12 |
35,983,420.30 |
42,321,426.30 |
|
Advance Income |
1,015,455.29 |
61,299.51 |
- |
|
Accrued Expenses |
34,794,740.95 |
25,062,941.49 |
8,562,635.13 |
|
|
|
|
|
|
Total Current Liabilities |
70,170,435.36 |
61,107,661.30 |
50,884,061.43 |
|
|
|
|
|
|
Long-term Loan |
316,753,660.70 |
328,410,611.51 |
167,365,419.79 |
|
Other Non-current Liabilities |
252,457.08 |
4,343,531.86 |
464,824.78 |
|
Total Liabilities |
387,176,553.14 |
393,861,804.67 |
218,714,306.00 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par value
authorized, issued
and fully paid share capital 270,000
shares |
27,000,000.00 |
27,000,000.00 |
27,000,000.00 |
|
|
|
|
|
|
Capital Paid |
27,000,000.00 |
27,000,000.00 |
27,000,000.00 |
|
Statutory Reserve |
2,700,000.00 |
2,700,000.00 |
2,700,000.00 |
|
Retained Earning - Unappropriated |
407,791,280.53 |
321,786,521.65 |
352,942,897.30 |
|
Total Shareholders' Equity |
437,491,280.53 |
351,486,521.65 |
382,642,897.30 |
|
Total Liabilities &
Shareholders' Equity |
824,667,833.67 |
745,348,326.32 |
601,357,203.30 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales |
747,223,061.64 |
580,001,961.31 |
583,179,324.63 |
|
Other Income |
10,087,289.70 |
1,896,821.78 |
3,089,034.49 |
|
Total Revenues |
757,310,351.34 |
581,898,783.09 |
586,268,359.12 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
514,464,691.94 |
373,836,278.75 |
323,861,316.50 |
|
Selling Expenses |
67,207,777.95 |
54,113,000.68 |
54,895,086.84 |
|
Administrative Expenses |
58,889,071.83 |
53,854,560.22 |
41,685,080.04 |
|
Other Expenses |
9,429,239.79 |
9,313,258.23 |
6,844,715.32 |
|
Total Expenses |
649,990,781.51 |
491,117,097.88 |
427,286,198.70 |
|
|
|
|
|
|
Profit Before Financial Costs
& Income Tax |
107,319,569.83 |
90,781,685.21 |
158,982,160.42 |
|
Financial Costs |
[20,119,355.60] |
[13,591,761.85] |
[9,839,008.00] |
|
Profit Before Income Tax |
87,200,214.17 |
77,189,923.36 |
149,143,152.42 |
|
Income Tax |
[1,195,455.29] |
[346,299.01] |
[596,737.50] |
|
|
|
|
|
|
Net Profit / [Loss] |
86,004,758.88 |
76,843,624.35 |
148,546,414.92 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
5.33 |
5.08 |
6.45 |
|
QUICK RATIO |
TIMES |
3.56 |
3.50 |
4.71 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.68 |
1.35 |
2.17 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.91 |
0.78 |
0.97 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
73.21 |
87.12 |
90.27 |
|
INVENTORY TURNOVER |
TIMES |
4.99 |
4.19 |
4.04 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
113.75 |
98.94 |
99.40 |
|
RECEIVABLES TURNOVER |
TIMES |
3.21 |
3.69 |
3.67 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
24.38 |
35.13 |
47.70 |
|
CASH CONVERSION CYCLE |
DAYS |
162.58 |
150.92 |
141.98 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
68.85 |
64.45 |
55.53 |
|
SELLING & ADMINISTRATION |
% |
16.88 |
18.62 |
16.56 |
|
INTEREST |
% |
2.69 |
2.34 |
1.69 |
|
GROSS PROFIT MARGIN |
% |
32.50 |
35.87 |
45.00 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
14.36 |
15.65 |
27.26 |
|
NET PROFIT MARGIN |
% |
11.51 |
13.25 |
25.47 |
|
RETURN ON EQUITY |
% |
19.66 |
21.86 |
38.82 |
|
RETURN ON ASSET |
% |
10.43 |
10.31 |
24.70 |
|
EARNING PER SHARE |
BAHT |
318.54 |
284.61 |
550.17 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.47 |
0.53 |
0.36 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.88 |
1.12 |
0.57 |
|
TIME INTEREST EARNED |
TIMES |
5.33 |
6.68 |
16.16 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
28.83 |
(0.54) |
|
|
OPERATING PROFIT |
% |
18.22 |
(42.90) |
|
|
NET PROFIT |
% |
11.92 |
(48.27) |
|
|
FIXED ASSETS |
% |
3.47 |
59.31 |
|
|
TOTAL ASSETS |
% |
10.64 |
23.94 |
|
ANNUAL GROWTH : EXCELLENT
An annual sales growth is 28.83%. Turnover has increased from THB 580,001,961.31
in 2010 to THB 747,223,061.64 in 2011. While net profit has increased from THB
76,843,624.35 in 2010 to THB 86,004,758.88 in 2011. And total assets has
increased from THB 745,348,326.32 in 2010 to THB 824,667,833.67 in 2011.
PROFITABILITY : EXCELLENT
PROFITABILITY RATIO
|
Gross Profit Margin |
32.50 |
Impressive |
Industrial Average |
11.78 |
|
Net Profit Margin |
11.51 |
Impressive |
Industrial Average |
1.60 |
|
Return on Assets |
10.43 |
Impressive |
Industrial Average |
1.50 |
|
Return on Equity |
19.66 |
Impressive |
Industrial Average |
3.68 |
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 32.5%. 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 11.51%,
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
10.43%, 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 19.66%, 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 : SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
5.33 |
Impressive |
Industrial Average |
1.33 |
|
Quick Ratio |
3.56 |
|
|
|
|
Cash Conversion Cycle |
162.58 |
|
|
|
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 5.33 times in 2011, increase from 5.08 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 3.56 times in 2011,
increase from 3.5 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 163 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.47 |
Impressive |
Industrial Average |
0.57 |
|
Debt to Equity Ratio |
0.88 |
Impressive |
Industrial Average |
1.34 |
|
Times Interest Earned |
5.33 |
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 5.34 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 0.47 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 : IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.68 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.91 |
Satisfactory |
Industrial Average |
0.94 |
|
Inventory Conversion Period |
73.21 |
|
|
|
|
Inventory Turnover |
4.99 |
Impressive |
Industrial Average |
2.36 |
|
Receivables Conversion Period |
113.75 |
|
|
|
|
Receivables Turnover |
3.21 |
Impressive |
Industrial Average |
1.58 |
|
Payables Conversion Period |
24.38 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.21 and 3.69 in
2011 and 2010 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 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 87 days at the
end of 2010 to 73 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 4.19 times in year 2010 to 4.99 times
in year 2011.
The company's Total Asset Turnover is calculated as 0.91 times and 0.78
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.56.49 |
|
|
1 |
Rs.86.81 |
|
Euro |
1 |
Rs.73.68 |
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.