MIRA INFORM REPORT
|
Report Date : |
18.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HONDA TRADING ASIA
CO., LTD. |
|
|
|
|
Registered Office : |
3rd Flr.,
Indosuez House, 152
Wireless Rd., Lumpini,
Pathumwan, Bangkok 10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
18.03.1991 |
|
|
|
|
Com. Reg. No.: |
0105534025726 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
importer, distributor and exporter
of various kinds
of industrial products,
such as steels,
aluminum, plastic, machinery,
tools and equipment, mold
parts, automotive recycling
products [automotive
materials e.g. steel,
aluminium resin], and
spare parts for
automotive, machinery, motorcycle
and power plant
industries. |
|
|
|
|
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 : |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
HONDA TRADING ASIA
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 3rd FLOOR, INDOSUEZ
HOUSE,
152
WIRELESS
ROAD, LUMPINI,
PATHUMWAN,
BANGKOK 10330
TELEPHONE : [66] 2651-4170
FAX :
[66] 2651-4191-3
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1991
REGISTRATION
NO. : 0105534025726
TAX
ID NO. : 3101951721
CAPITAL REGISTERED : BHT. 112,000,000
CAPITAL PAID-UP : BHT.
112,000,000
SHAREHOLER’SD PROPORTION : THAI :
5.46%
JAPANESE :
94.54%
FISCAL YEAR CLOSING DATE : MARCH
31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. HIDEAKI MURAI,
JAPANESE
PRESIDENT
NO.
OF STAFF : 200
LINES
OF BUSINESS : STEELS
IMPORTER, 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 March 18, 1991
as a private
limited company under
the originally registered
name “Honda Trading
[Thailand] Co., Ltd.” by Thai
and Japanese groups. On
March 19, 2009, its registered
name was changed
to HONDA TRADING
ASIA CO., LTD. Its objective
is engaged in
steel trader. It currently
employs approximately 200
staff.
The subject is a subsidiary
of Honda Trading
Corporation, which is
a member of
Honda Motor Company
Limited in Japan.
The
subject’s registered address is 3rd Flr., Indosuez House,
152 Wireless Rd., Lumpini, Pathumwan, Bangkok 10330,
and this is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Hideaki Murai |
|
Japanese |
53 |
|
Mr. Hidenori Yuri |
|
Japanese |
45 |
AUTHORIZED PERSON
One of the
above directors signs
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Hideaki Murai is
the President.
He is Japanese
nationality with the
age of 53 years
old.
BUSINESS
OPERATIONS
The subject is
engaged in international
trading business to
import, distribute and export various
kinds of industrial
products, such as
steels, aluminum, plastic,
machinery, tools and
equipment, mold parts, automotive
recycling products
[automotive materials e.g.
steel, aluminium resin],
and spare parts
for automotive, machinery,
motorcycle and power
plant industries.
PURCHASE
The
products are purchased
from suppliers both
domestic and overseas,
mainly in Japan,
Republic of China, France, Australia,
Italy and Germany.
MAJOR
SUPPLIERS
Honda
Trading Corporation : Japan
Thai
Metal Trade Public
Company Limited : Thailand
Sahaviriya
Steel Industry Public
Company Limited :
Thailand
Bangkok
Steel Industry Public
Company Limited :
Thailand
IRPC
Public Company Limited :
Thailand
Thai
Summit Group of
Companies : Thailand
SALES
99% of the
products is sold
and supplied to
Honda group of
companies both local
and overseas, such
as Vietnam, Pakistan,
Taiwan, Philippines, India,
Indonesia, Republic of
China, Malaysia and
Europe, the remaining 1%
is sold to
general customers.
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 T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
Bank
of Tokyo-Mitsubishi UFJ
Ltd.
EMPLOYMENT
The
subject employs approximately
200 staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a prime
commercial area.
Branches
office : [Thailand/Overseas]
- 47 Moo 7,
Poochaosaingprai Rd., T. Samrong, A. Phrapradaeng, Samutprakarn.
- 102/1 Moo 1,
Wat Daowadueng Rd.,
T. Bangkadi, A. Muang, Pathumthani.
- 49 Moo 4
T. Banchang, A. Uthai, Ayutthaya.
COMMENT
The subject was formed
in 1991 as an international
trading of steel,
metal, mold part for
automotive and machinery
industries. The products
are served mainly
to automobile industry
both local and
overseas. Subject’s operating
performance had significantly
grown in the past
two years.
Honda’s
gains follow a
200% year on year rise
in October 2013.
The Japanese carmakers
meanwhile are going
from strength to
strength due to
surging sales in US
and EU
markets.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 12,000,000
divided into 120,000
shares of Bht.
100 each.
On
April 23, 1999,
the capital was increased
to Bht. 112,000,000 divided into
1,120,000 shares of Bht.
100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
July 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Honda Trading Corporation Nationality: Japanese Address : 1-8-2
Marunokuji, Chiyodaku, Tokyo, Japan |
1,058,800 |
94.54 |
|
AP Honda Co.,
Ltd. Nationality: Thai Address : 149
Old Railway Rd.,
T. Samrongtai, A.
Phrapradaeng, Samutprakarn |
30,600 |
2.73 |
|
Honda Automobile [Thailand]
Co., Ltd. Nationality: Thai Address : 49
Moo 9, T. Thanu,
A. Uthai, Ayutthaya |
30,600 |
2.73 |
Total Shareholders : 3
Share Structure [as
at July 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
2 |
61,200 |
5.46 |
|
Foreign - Japanese |
1 |
1,058,800 |
94.54 |
|
Total |
3 |
1,120,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Ekasit Chuthamsathit No.
4195
BALANCE
SHEET [BAHT]
The latest financial figures published for March 31, 2013, 2012 & 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalent |
279,544,793 |
138,259,905 |
103,142,772 |
|
Trade Accounts Receivable |
7,904,849,910 |
9,500,968,642 |
6,740,964,755 |
|
Compensation Receivable from
Insurance |
- |
44,848,441 |
- |
|
Other Receivable |
118,810,982 |
102,770,333 |
106,397,242 |
|
Inventories |
5,609,431,327 |
6,719,506,609 |
4,422,622,427 |
|
Refundable Value Added
Tax |
104,497,580 |
117,096,930 |
171,591,598 |
|
Other Current Assets |
35,355,250 |
50,824,123 |
57,016,805 |
|
|
|
|
|
|
Total Current Assets
|
14,052,489,842 |
16,674,274,983 |
11,601,735,599 |
|
|
|
|
|
|
Long-term Investment |
43,717,628 |
43,717,628 |
43,717,628 |
|
Fixed Assets |
246,641,208 |
247,548,421 |
255,863,528 |
|
Intangible Assets |
26,348,379 |
32,788,255 |
42,083,193 |
|
Other Non-current Assets |
7,329,820 |
6,718,000 |
7,038,568 |
|
Total Assets |
14,376,526,877 |
17,005,047,287 |
11,950,438,516 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Short-term Loan from Financial Institution |
5,080,000,000 |
6,110,000,000 |
3,820,000,000 |
|
Trade Accounts Payable |
3,927,523,434 |
6,350,879,577 |
3,943,304,282 |
|
Other Payable |
63,893,858 |
75,544,341 |
69,239,291 |
|
Current Portion of
Long-term Loan Financial Institution |
- |
300,000,000 |
- |
|
Advance Income from Customer |
411,191,314 |
139,014,818 |
135,197,697 |
|
Accrued Income Tax |
260,246,348 |
135,192,313 |
318,665,161 |
|
Accrued Expenses |
112,323,597 |
249,281,150 |
120,811,706 |
|
Other Current Liabilities |
42,218,138 |
33,136,840 |
3,771,993 |
|
|
|
|
|
|
Total Current Liabilities |
9,897,396,689 |
13,393,049,039 |
8,410,990,130 |
|
|
|
|
|
|
Estimated Liabilities from
Employee Benefits |
16,354,673 |
13,390,826 |
- |
|
Long-term Payable from Related Company |
- |
- |
300,000,000 |
|
Total Liabilities |
9,913,751,362 |
13,406,439,865 |
8,710,990,130 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 1,120,000 shares |
112,000,000 |
112,000,000 |
112,000,000 |
|
|
|
|
|
|
Capital Paid |
112,000,000 |
112,000,000 |
112,000,000 |
|
Retained Earning Appropriated for
Statutory Reserve |
11,200,000 |
11,200,000 |
11,200,000 |
|
Unappropriated |
4,339,575,515 |
3,475,407,422 |
3,116,248,386 |
|
Total Shareholders' Equity |
4,462,775,515 |
3,598,607,422 |
3,239,448,386 |
|
Total Liabilities &
Shareholders' Equity |
14,376,526,877 |
17,005,047,287 |
11,950,438,516 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
Sales & Services |
49,126,523,741 |
34,633,497,395 |
35,598,703,661 |
|
Interest Income |
10,506,637 |
9,408,400 |
7,523,601 |
|
Dividend Income |
21,116,984 |
12,581,772 |
3,635,213 |
|
Gain on Exchange
Rate |
75,354,711 |
188,154,781 |
74,627,886 |
|
Income Compensation |
43,893,470 |
- |
- |
|
Other Income |
112,313,371 |
149,327,719 |
88,613,645 |
|
Total Revenues |
49,389,708,914 |
34,992,970,067 |
35,773,104,006 |
|
Expenses |
|
|
|
|
Cost of Goods
Sold & Services |
46,509,272,899 |
32,802,794,331 |
33,594,973,971 |
|
Selling Expenses |
589,037,793 |
463,388,409 |
548,110,871 |
|
Administrative Expenses |
452,642,704 |
380,982,111 |
283,258,591 |
|
Loss on Flood
Incident |
- |
49,797,543 |
- |
|
Total Expenses |
47,550,953,396 |
33,696,962,394 |
34,426,343,433 |
|
|
|
|
|
|
Profit before Financial Cost & Income Tax |
1,838,755,518 |
1,296,007,673 |
1,346,760,573 |
|
Financial Cost |
[164,866,866] |
[134,100,624] |
[55,940,276] |
|
Profit before Income Tax |
1,673,888,652 |
1,161,907,049 |
1,290,820,297 |
|
Income Tax |
[407,517,359] |
[357,492,013] |
[400,305,746] |
|
Net Profit / [Loss] |
1,266,371,293 |
804,415,036 |
890,514,551 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.42 |
1.24 |
1.38 |
|
QUICK RATIO |
TIMES |
0.85 |
0.74 |
0.85 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
199.18 |
139.91 |
139.13 |
|
TOTAL ASSETS TURNOVER |
TIMES |
3.42 |
2.04 |
2.98 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
44.02 |
74.77 |
48.05 |
|
INVENTORY TURNOVER |
TIMES |
8.29 |
4.88 |
7.60 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
58.73 |
100.13 |
69.12 |
|
RECEIVABLES TURNOVER |
TIMES |
6.21 |
3.65 |
5.28 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
30.82 |
70.67 |
42.84 |
|
CASH CONVERSION CYCLE |
DAYS |
71.93 |
104.23 |
74.32 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
94.67 |
94.71 |
94.37 |
|
SELLING & ADMINISTRATION |
% |
2.12 |
2.57 |
2.34 |
|
INTEREST |
% |
0.34 |
0.39 |
0.16 |
|
GROSS PROFIT MARGIN |
% |
5.86 |
6.32 |
6.12 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.74 |
3.74 |
3.78 |
|
NET PROFIT MARGIN |
% |
2.58 |
2.32 |
2.50 |
|
RETURN ON EQUITY |
% |
28.38 |
22.35 |
27.49 |
|
RETURN ON ASSET |
% |
8.81 |
4.73 |
7.45 |
|
EARNING PER SHARE |
BAHT |
1,130.69 |
718.23 |
795.10 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.69 |
0.79 |
0.73 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.22 |
3.73 |
2.69 |
|
TIME INTEREST EARNED |
TIMES |
11.15 |
9.66 |
24.07 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
41.85 |
(2.71) |
|
|
OPERATING PROFIT |
% |
41.88 |
(3.77) |
|
|
NET PROFIT |
% |
57.43 |
(9.67) |
|
|
FIXED ASSETS |
% |
(0.37) |
(3.25) |
|
|
TOTAL ASSETS |
% |
(15.46) |
42.30 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 41.85%. Turnover has increased from THB
34,633,497,395.00 in 2012 to THB 49,126,523,741.00 in 2013. While net profit
has increased from THB 804,415,036.00 in 2012 to THB 1,266,371,293.00 in 2013.
And total assets has decreased from THB 17,005,047,287.00 in 2012 to THB
14,376,526,877.00 in 2013.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
5.86 |
Deteriorated |
Industrial Average |
24.51 |
|
Net Profit Margin |
2.58 |
Impressive |
Industrial Average |
1.50 |
|
Return on Assets |
8.81 |
Impressive |
Industrial Average |
4.03 |
|
Return on Equity |
28.38 |
Impressive |
Industrial Average |
14.24 |
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 5.86%. 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 2.58%, 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
8.81%, 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 28.38%, 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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.42 |
Impressive |
Industrial Average |
1.24 |
|
Quick Ratio |
0.85 |
|
|
|
|
Cash Conversion Cycle |
71.93 |
|
|
|
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 1.42 times in 2013, increased from 1.24 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 0.85 times in
2013, increased from 0.74 times, by
excluding inventory, the company may have problems meeting current liabilities.
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 72 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.69 |
Impressive |
Industrial Average |
0.71 |
|
Debt to Equity Ratio |
2.22 |
Acceptable |
Industrial Average |
2.41 |
|
Times Interest Earned |
11.15 |
Impressive |
Industrial Average |
(0.62) |
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 11.16 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 0.69 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
199.18 |
Impressive |
Industrial Average |
(5.66) |
|
Total Assets Turnover |
3.42 |
Impressive |
Industrial Average |
2.44 |
|
Inventory Conversion Period |
44.02 |
|
|
|
|
Inventory Turnover |
8.29 |
Impressive |
Industrial Average |
6.97 |
|
Receivables Conversion Period |
58.73 |
|
|
|
|
Receivables Turnover |
6.21 |
Impressive |
Industrial Average |
2.58 |
|
Payables Conversion Period |
30.82 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.21 and 3.65 in
2013 and 2012 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 2013
increased from 2012. 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 decreased from 75 days at the
end of 2012 to 44 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 4.88 times in year 2012 to 8.29 times
in year 2013.
The company's Total Asset Turnover is calculated as 3.42 times and 2.04
times in 2013 and 2012 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.60.38 |
|
UK Pound |
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
SHG |
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.