MIRA
INFORM REPORT
|
Report Date : |
11.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHAZE INDUSTRIAL CO., LTD. |
|
|
|
|
Formerly Known As : |
GENERAL METAL PRODUCTS CO.,
LTD. |
|
|
|
|
Registered Office : |
Gateway City Industrial
Estate, 225 Moo 7,
T. Huasamrong, A. Plaengyao, Chachoengsao 24190 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
18.06.2009 |
|
|
|
|
Com. Reg. No.: |
0705552000611 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor &
Exporter of Non Ferrous Smelting
& Refining |
|
|
|
|
No. of Employees : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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
CHAZE INDUSTRIAL
CO., LTD.
[FORMER : GENERAL METAL PRODUCTS
CO., LTD.]
SUMMARY
BUSINESS ADDRESS : GATEWAY CITY INDUSTRIAL
ESTATE,
225 MOO
7, T. HUASAMRONG,
A. PLAENGYAO,
CHACHOENGSAO 24190,
THAILAND
TELEPHONE : [66] 38 575-464-5
FAX : [66]
38 575-465
E-MAIL ADDRESS : info@chaze.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2009
REGISTRATION NO. : 0705552000611
TAX ID NO. : 3033511574
CAPITAL REGISTERED : BHT.
93,000,000
CAPITAL PAID-UP : BHT.
93,000,000
SHAREHOLDER’S PROPORTION : THAI
: 53.22%
INDIAN
: 46.78%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. VIJENDRA KEDIA,
INDIAN
PRESIDENT AND
MANAGING DIRECTOR
NO. OF STAFF : 60
LINES OF BUSINESS : NON
FERROUS SMELTING &
REFINING
MANUFACTURER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH FAIR PERFORMANCE
HISTORY
The subject was
established on June
18, 2009 as
a private limited
company under the originally
registered name “General Metal Products
Co., Ltd.” by
Thai and Indian groups.
On August 27,
2010, its registered
name was changed
to CHAZE INDUSTRIAL CO., LTD.
Its objective is engaged in non-ferrous metal
smelting and refining
with BOI promoted.
It currently employs
approximate 60 staff.
The subject is
also the largest
non ferrous metal
smelting and refining
companies in Thailand.
The subject’s registered
address is Gateway
City Industrial Estate,
225 Moo 7, T.
Huasamrong, A. Plaengyao,
Chachoengsao 24190, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Anake Sajjamuneewong |
|
Thai |
36 |
|
Mr. Vijendra Kedia |
[x] |
Indian |
40 |
|
Mr. Charoen Sajjamuneewong |
[x] |
Thai |
66 |
AUTHORIZED PERSON
Both of the
mentioned directors [x] can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Vijendra Kedia is
the President and
Managing Director.
He is Indian
nationality with the
age of 40
years old.
Ms. Suchanan Nandani is
the Vice President
[Procurement and Administration].
She is Thai
nationality.
Mr. Anake Sajjamuneewong is
the Vice President
[Sales & Marketing].
He is Thai
nationality with the
age of 36
years old.
Mr. J.J. Biswas is
the General Manager
[Operation].
He is Indian
nationality.
Mr. Dewesh Misra is
the Production & QA Manager.
He is Indian
nationality.
BUSINESS OPERATIONS
The subject is
engaged in smelting
and refining of
non-ferrous metals, mainly
as lead, battery
scraps, and producing
of lead ingots
and lead alloy
ingot. Range of
products are included
pure lead, lead-antimony
alloy, lead-calcium alloy
and lead selenium
alloy, supply to
battery industries and
others.
PURCHASE
Most of raw
materials are purchased
from local supplier,
the remaining as
well as machinery
are imported from
India, Republic of
China and the
countries in Europe.
SALES
The products are
sold to customers
both local and
overseas, in India,
Japan, U.S.A., and
the countries in
Europe.
MAJOR CUSTOMERS
Yuasa Battery Thailand
Public Company Limited : Thailand
Thai Petroleum & Trading Co.,
Ltd. : Thailand
Uniwerks Metal Private
Ltd. : India
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
according to IRICO’S
DATABASE 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
T/T.
BANKING
The subject was
not disclosed its
banker’s name.
EMPLOYMENT
The subject currently
employs approximate 60
staff.
LOCATION DETAILS
The premise is
rented for administrative office
and factory on
16,000 square meters
of land at
the heading address.
Premise is located
in industrial area.
Bangkok office is
located at Room
14/5 14th Floor,
MEC Building, 888
Bangna-Trad Rd., Bangna,
Bangkok 10260. Tel.: [66]
2744-6606 Fax : [66] 2744-6609.
COMMENT
The subject is
one of the
fastest growing companies
with operations started
as recently as 2011. It
hands on experience
in this field
has helped it become
of the largest non-ferrous metal smelting and
refining companies in Thailand.
It runs processes of
smelting lead battery
scraps and produce lead
ingots and lead
alloy ingots.
It is a BOI
promoted company brought
up by highly
skilled professionals having
indepth knowledge and
vast experience in
non-ferrous metals refining
and manufacturing processes, at
par with international
players and standards.
FINANCIAL INFORMATION
The capital was
registered at Bht.
1,000,000 divided into
10,000 shares of
Bht. 100 each
with fully paid.
The capital was
increased later as
follows:
Bht. 20,000,000
on April 1,
2010
Bht. 52,000,000
on August 27,
2010
Bht. 60,000,000
on February 4,
2011
Bht. 90,000,000
on November 14,
2011
Bht. 93,000,000
on December 27,
2012
The latest registered
capital was increased
to Bht. 93 million,
divided into 930,000
shares of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[as at December
25, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Vijendra Kedia Nationality: Indian Address : Bengal,
India |
4,353,400 |
46.81 |
|
Mr. Charoen Sajjamuneewong Nationality: Thai Address : 158/335
Charansanitwong Rd., Bangbamru,
Bangplad, Bangkok |
1,119,049 |
12.03 |
|
Mr. Amorn Panichkaiwalkosil Nationality: Thai Address : 21 Charansanitwong 1
Rd., Wadthaphra,
Bangkokyai, Bangkok |
1,042,154 |
11.21 |
|
Mr. Anake Sajjamuneewong Nationality: Thai Address : 284
Soi Ratchadapisek 16,
Wadthaphra, Bangkokyai, Bangkok
|
830,224 |
8.93 |
|
Mr. Direk Panichkaiwalkosil Nationality: Thai Address : 21
Charansanitwong 1 Rd.,
Wadthaphra,
Bangkokyai, Bangkok |
752,748 |
8.09 |
|
Mrs. Jaspigor Panichkaiwalkosil Nationality: Thai Address : 21
Charansanitwong 1 Rd.,
Wadthaphra,
Bangkokyai, Bangkok |
529,698 |
5.70 |
|
Mrs. Pranee Panichkaiwalkosil Nationality: Thai Address : 25/3
Charansanitwong Rd., Wadthaphra, Bangkokyai, Bangkok |
372,727 |
4.01 |
|
Ms. Huijing Saetang Nationality: Thai Address : 1/1
Soi 32 Taiban
Rd., Paknam, Muang, Samutprakarn |
300,000 |
3.22 |
Total Shareholders : 8
Share Structure
[as at December
25, 2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
4,950,000 |
53.22 |
|
Foreign-Indian |
1 |
4,350,000 |
46.78 |
|
Total |
8 |
9,300,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Krisana Thiwaree No.
2969
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalents |
741,644.68 |
224,296.91 |
53,354.93 |
|
Trade Accounts Receivable
|
56,148,420.25 |
9,561,354.15 |
- |
|
Inventories |
17,395,771.92 |
- |
- |
|
Other Current Assets
|
2,473,960.19 |
1,414,992.53 |
486,460.00 |
|
|
|
|
|
|
Total Current Assets
|
76,759,797.04 |
11,200,643.59 |
539,814.93 |
|
|
|
|
|
|
Fixed Assets |
130,879,774.30 |
36,179,319.27 |
- |
|
Other Non - current Assets |
641,277.12 |
900,510.00 |
- |
|
Total Assets |
208,280,848.46 |
48,280,472.86 |
539,814.93 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft |
79,507,393.77 |
- |
- |
|
Trade Accounts and
Other Payable |
11,163,482.38 |
1,009,292.33 |
- |
|
Current Portion of
Lease Contract Liabilities |
499,620.00 |
- |
- |
|
Current Portion of
Long-term Loans from Financial
Institution |
4,008,000.00 |
- |
- |
|
Other Current Liabilities |
- |
- |
259,000.00 |
|
|
|
|
|
|
Total Current Liabilities |
95,178,496.15 |
1,009,292.33 |
259,000.00 |
|
Lease Contract Liabilities |
1,558,866.00 |
335,914.00 |
- |
|
Long-term Loan from Financial Institution |
14,912,459.00 |
- |
- |
|
Loan from Person or Related
Company |
11,086,945.00 |
1,400,500.30 |
- |
|
Total Liabilities |
122,736,766.15 |
2,745,706.63 |
259,000.00 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 9,000,000 shares in 2011;
5,200,000 & 100,000 shares in 2010
& 2009 respectively |
90,000,000.00 |
52,000,000.00 |
1,000,000.00 |
|
|
|
|
|
|
Capital Paid |
90,000,000.00 |
52,000,000.00 |
1,000,000.00 |
|
Retained Earning Unappropriated |
[4,455,917.69] |
[6,465,233.77] |
[719,185.07] |
|
Total Shareholders' Equity |
85,544,082.31 |
45,534,766.23 |
280,814.93 |
|
Total Liabilities &
Shareholders' Equity |
208,280,848.46 |
48,280,472.86 |
539,814.93 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
147,678,186.05 |
1,606,817.78 |
- |
|
Gain on Exchange Rate |
541,948.34 |
- |
- |
|
Other Income |
122,359.90 |
- |
- |
|
Total Revenues |
148,342,494.29 |
1,606,817.78 |
- |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
124,927,594.12 |
1,135,725.00 |
- |
|
Selling Expenses |
1,856,568.99 |
475,883.12 |
- |
|
Administrative Expenses |
15,362,522.41 |
5,626,856.91 |
719,185.07 |
|
Loss on Disposal
of Assets |
82,429.91 |
- |
- |
|
Total Expenses |
142,229,115.43 |
7,238,465.03 |
719,185.07 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost |
6,113,378.86 |
[5,631,647.25] |
[719,185.07] |
|
Financial Costs |
[4,071,575.11] |
[114,401.45] |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
2,041,803.75 |
[5,746,048.70] |
[719,185.07] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.81 |
11.10 |
2.08 |
|
QUICK RATIO |
TIMES |
0.60 |
9.70 |
0.21 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.13 |
0.04 |
- |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.71 |
0.03 |
- |
|
INVENTORY CONVERSION PERIOD |
DAYS |
50.83 |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
7.18 |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
138.78 |
2,171.93 |
- |
|
RECEIVABLES TURNOVER |
TIMES |
2.63 |
0.17 |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
32.62 |
324.37 |
- |
|
CASH CONVERSION CYCLE |
DAYS |
156.98 |
1,847.56 |
- |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
84.59 |
70.68 |
- |
|
SELLING & ADMINISTRATION |
% |
11.66 |
379.80 |
- |
|
INTEREST |
% |
2.76 |
7.12 |
- |
|
GROSS PROFIT MARGIN |
% |
15.86 |
29.32 |
- |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.14 |
(350.48) |
- |
|
NET PROFIT MARGIN |
% |
1.38 |
(357.60) |
- |
|
RETURN ON EQUITY |
% |
2.39 |
(12.62) |
(256.11) |
|
RETURN ON ASSET |
% |
0.98 |
(11.90) |
(133.23) |
|
EARNING PER SHARE |
BAHT |
0.23 |
(1.11) |
(7.19) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.59 |
0.06 |
0.48 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.43 |
0.06 |
0.92 |
|
TIME INTEREST EARNED |
TIMES |
1.50 |
(49.23) |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
9,090.72 |
- |
|
|
OPERATING PROFIT |
% |
(208.55) |
683.06 |
|
|
NET PROFIT |
% |
135.53 |
(698.97) |
|
|
FIXED ASSETS |
% |
261.75 |
- |
|
|
TOTAL ASSETS |
% |
331.40 |
8,843.89 |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 9090.72%. Turnover has increased from THB
1,606,817.78 in 2010 to THB 147,678,186.05 in 2011. While net profit has increased
from THB -5,746,048.70 in 2010 to THB 2,041,803.75 in 2011. And total assets
has increased from THB 48,280,472.86 in 2010 to THB 208,280,848.46 in 2011.
PROFITABILITY : ACCEPTABLE
PROFITABILITY RATIO
|
Gross Profit Margin |
15.86 |
Acceptable |
Industrial Average |
27.04 |
|
Net Profit Margin |
1.38 |
Satisfactory |
Industrial Average |
1.46 |
|
Return on Assets |
0.98 |
Deteriorated |
Industrial Average |
2.23 |
|
Return on Equity |
2.39 |
Deteriorated |
Industrial Average |
5.44 |
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 15.86%. 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 1.38%.
When compared with the industry average, the ratio of the company was lower.
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 0.98%.
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 2.39%.
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 |
0.81 |
Risky |
Industrial Average |
1.33 |
|
Quick Ratio |
0.60 |
|
|
|
|
Cash Conversion Cycle |
156.98 |
|
|
|
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 0.81 times in 2011, decreased from 11.1 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 0.6 times in 2011,
decreased from 9.7 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 157 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.59 |
Impressive |
Industrial Average |
0.59 |
|
Debt to Equity Ratio |
1.43 |
Acceptable |
Industrial Average |
1.45 |
|
Times Interest Earned |
1.50 |
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 1.51 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 0.59 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 |
1.13 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.71 |
Deteriorated |
Industrial Average |
1.53 |
|
Inventory Conversion Period |
50.83 |
|
|
|
|
Inventory Turnover |
7.18 |
Impressive |
Industrial Average |
4.40 |
|
Receivables Conversion Period |
138.78 |
|
|
|
|
Receivables Turnover |
2.63 |
Impressive |
Industrial Average |
2.59 |
|
Payables Conversion Period |
32.62 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.63 and 0.17 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
increased from 2010. This would suggest the company had good performance 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 0 days at the end
of 2010 to 51 days at the end of 2011. This represents a negative trend. And
Inventory turnover has increased from 0 times in year 2010 to 7.18 times in
year 2011.
The company's Total Asset Turnover is calculated as 0.71 times and 0.03
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.54.54 |
|
|
1 |
Rs.84.19 |
|
Euro |
1 |
Rs.71.11 |
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.