MIRA
INFORM REPORT
|
Report Date : |
26.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
PINNACLE JEWELRY
CO., LTD. |
|
|
|
|
Registered Office : |
51st Floor, Room 5104, Jewelry Trade Center, 919/607 Silom Road, Silom, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.05.2013 |
|
|
|
|
Date of Incorporation : |
14.06.2006 |
|
|
|
|
Com. Reg. No.: |
0105549071401 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged
in importing, distributing and
re-exporting various kinds
of diamonds, gemstones,
jade, pearl, jewelry,
gold jewelry, gold
ornament and platinum
jewelry, as well
as exporting the
local products. |
|
|
|
|
No. of Employees : |
2 |
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 but correct |
|
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. 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 in 2013 implemented a nation-wide 300 baht ($10) per day minimum
wage policy and deployed 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 recession severely cut
Thailand's exports, with most sectors experiencing double-digit drops. In late
2011 Thailand's recovery was interrupted by historic flooding in the industrial
areas in Bangkok and its five surrounding provinces, crippling the
manufacturing sector. The government 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 following seven
years. This was expected to lead to an economic upsurge but growth has remained
slow, in part due to ongoing political unrest and resulting uncertainties.
Spending on infrastructure will require re-approval once a new government is
seated
|
Source
: CIA |
Company name
PINNACLE
JEWELRY CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 51st FLOOR,
ROOM 5104, JEWELRY
TRADE CENTER,
919/607 SILOM
ROAD, SILOM, BANGRAK,
BANGKOK 10500,
THAILAND
TELEPHONE : [66] 2238-3836
FAX :
[66] 2238-3836,
2266-5173
E-MAIL
ADDRESS : pinnacle-jewelry@hotmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2006
REGISTRATION
NO. : 0105549071401
TAX
ID NO. : 303226943
CAPITAL REGISTERED : BHT. 4,000,000
CAPITAL PAID-UP : BHT.
4,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
INDIAN
: 49.00%
FISCAL YEAR CLOSING DATE : MAY
31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SACHIN PRADIPKUMAR JHAVERI,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 2
LINES
OF BUSINESS : JEWELRY AND
RELATED PRODUCTS
IMPORTER, DISTRIBUTOR
AND 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 14,
2006 as a
private limited company
under the registered
name PINNACLE JEWELRY
CO., LTD., by Thai
and Indian groups,
with the objective to be
engaged in jewelry
trading business to
both domestic and international
markets. It currently
employs 2 staff.
The
subject’s registered address
is 51st Floor, Room
5104, Jewelry Trade
Center,
919/607
Silom Road, Silom,
Bangrak, Bangkok 10500,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sachin Pradipkumar Jhaveri |
|
Indian |
42 |
|
Mrs. Rehma Sachin Jhaveri |
|
Indian |
38 |
|
Mr. Chiddharta Charinki Jhaveri
|
|
Indian |
34 |
AUTHORIZED PERSON
Anyone of the
above directors signs
on behalf of the subject
with company’s affixed.
MANAGEMENT
Mr. Sachin Pradipkumar Jhaveri
is the Managing
Director.
He is Indian
nationality with the
age of 42 years
old.
BUSINESS OPERATIONS
The subject
is engaged in importing,
distributing and re-exporting
various kinds of
diamonds, gemstones, jade,
pearl, jewelry, gold
jewelry, gold ornament
and platinum jewelry,
as well as
exporting the local
products.
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas, in India,
Pakistan, Africa and
Japan.
SALES
The products are
sold to customers
both local and
overseas in Hong
Kong, Japan and
the countries in
Europe.
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 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.
EMPLOYMENT
The
subject currently employs
2 staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a prime
commercial area.
COMMENT
The
subject’s business performance
in 2013 was
slowdown with decreasing
sales revenue comparing
to the previous year.
Generally, its business
has encountered slow growth
due to many
unfavorable factors such
as political conflict
and low consumer
spending which have
affected on jewelry
business.
FINANCIAL INFORMATION
The capital was
registered at Bht. 2,000,000 divided
into 20,000 shares
of Bht. 100 each with
fully paid.
On
November 19, 2009,
the registered capital
was increased to
Bht. 4,000,000 divided
into 40,000 shares
of Bht. 100 each with fully
paid.
THE SHAREHOLDERS
LISTED WERE
[as
at September 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Sachin Pradipkumar
Jhaveri Nationality: Indian Address : 919/607 Silom Road,
Silom, Bangrak, Bangkok
|
12,000 |
30.00 |
|
Ms. Sitala Kupatatham Nationality: Thai Address : 31/50
Moo 7, Rama
2 Road, Samaedam,
Bangkhunthien, Bangkok |
6,000 |
15.00 |
|
Ms. Sudarat Champatem Nationality: Thai Address : 311 Moo
10, T. Chayyai, A. Kantaralak, Srisaket |
4,800 |
12.00 |
|
Ms. Nitaya Korsermklang Nationality: Thai Address : 97
Moo 4, T. Kokthai,
A. Pakthongchai,
Nakornratchasima |
4,800 |
12.00 |
|
Ms. Chitlada Surasen Nationality: Thai Address : 26
Moo 5, T. Saothongchai, A. Kantaralak,
Srisaket |
4,800 |
12.00 |
|
Mrs. Rehma Sachin
Jhaveri Nationality: Indian Address : 919/607
Silom Road, Silom,
Bangrak,
Bangkok |
4,400 |
11.00 |
|
Mr. Chiddharta Charinki Jhaveri
Nationality: Indian Address : 919/607
Silom Road, Silom,
Bangrak,
Bangkok |
3,200 |
8.00 |
Total Shareholders : 7
Share Structure [as
at September 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
20,400 |
51.00 |
|
Foreign-Indian |
3 |
19,600 |
49.00 |
|
Total |
7 |
40,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Piyaluck Soontawong No.
10794
BALANCE SHEET [BAHT]
The
latest financial figures
published for May
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
2,771.75 |
19,575.00 |
142,436.56 |
|
Trade Accounts &
Other Receivable |
10,734,028.71 |
4,658,285.79 |
3,604,466.73 |
|
Inventories |
11,627,667.15 |
13,643,673.54 |
8,834,048.60 |
|
Other Current Assets
|
54,536.40 |
93,141.27 |
71,400.14 |
|
|
|
|
|
|
Total Current Assets
|
22,419,004.01 |
18,414,675.60 |
12,652,352.03 |
|
Fixed Assets |
541,550.79 |
685,825.94 |
93,585.20 |
|
Other Non-current Assets
|
38,625.00 |
- |
- |
|
Total Assets |
22,999,179.80 |
19,100,501.54 |
12,745,937.23 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from
Financial Institution |
4,127,701.67 |
5,887,148.94 |
- |
|
Trade Accounts &
Other Payable |
7,155,597.24 |
5,318,870.25 |
5,086,994.72 |
|
Current Portion of
Long-term Liabilities |
107,047.83 |
102,184.34 |
- |
|
Short-term Loan |
5,110,000.00 |
1,758,750.58 |
2,767,097.65 |
|
Accrued Income Tax |
10,430.05 |
65,063.61 |
- |
|
Other Current Liabilities |
176,830.56 |
14,935.12 |
9,799.61 |
|
|
|
|
|
|
Total Current Liabilities |
16,687,607.35 |
13,146,952.84 |
7,863,891.98 |
|
Long-term Loan |
219,623.00 |
326,670.83 |
- |
|
Total Liabilities |
16,907,230.35 |
13,473,623.67 |
7,863,891.98 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value Authorized &
issued share capital
40,000 shares
|
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
|
|
|
|
|
Capital Paid |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Retained Earning - Unappropriated
[Deficit] |
2,091,949.45 |
1,626,877.87 |
882,045.25 |
|
|
|
|
|
|
Total Shareholders' Equity |
6,091,949.45 |
5,626,877.87 |
4,882,045.25 |
|
Total Liabilities &
Shareholders' Equity |
22,999,179.80 |
19,100,501.54 |
12,745,937.23 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales |
21,096,778.63 |
27,952,483.20 |
25,487,201.96 |
|
Other Income |
2,451,491.82 |
298,496.17 |
86,293.02 |
|
Total Revenues |
23,548,270.45 |
28,250,979.37 |
25,573,494.98 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
20,968,088.95 |
25,400,342.10 |
22,342,602.72 |
|
Selling Expenses |
253,877.62 |
473,524.28 |
2,023,474.13 |
|
Administrative Expenses |
1,618,720.87 |
1,350,774.73 |
1,635,405.58 |
|
Total Expenses |
22,840,687.44 |
27,224,641.11 |
26,001,482.43 |
|
|
|
|
|
|
Profit / Loss] before Financial
Cost & Income Tax |
707,583.01 |
1,026,338.26 |
[427,987.45] |
|
Financial Cost |
[186,406.38] |
[176,317.03] |
- |
|
|
|
|
|
|
Profit / [Loss] before Income Tax
|
521,176.63 |
850,021.23 |
[427,987.45] |
|
Income Tax |
[56,105.05] |
[105,188.61] |
- |
|
Net Profit / [Loss] |
465,071.58 |
744,832.62 |
[427,987.45] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.34 |
1.40 |
1.61 |
|
QUICK RATIO |
TIMES |
0.64 |
0.36 |
0.48 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
38.96 |
40.76 |
272.34 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.92 |
1.46 |
2.00 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
202.41 |
196.06 |
144.32 |
|
INVENTORY TURNOVER |
TIMES |
1.80 |
1.86 |
2.53 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
185.71 |
60.83 |
51.62 |
|
RECEIVABLES TURNOVER |
TIMES |
1.97 |
6.00 |
7.07 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
124.56 |
76.43 |
83.10 |
|
CASH CONVERSION CYCLE |
DAYS |
263.56 |
180.45 |
112.83 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
99.39 |
90.87 |
87.66 |
|
SELLING & ADMINISTRATION |
% |
8.88 |
6.53 |
14.36 |
|
INTEREST |
% |
0.88 |
0.63 |
- |
|
GROSS PROFIT MARGIN |
% |
12.23 |
10.20 |
12.68 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.35 |
3.67 |
(1.68) |
|
NET PROFIT MARGIN |
% |
2.20 |
2.66 |
(1.68) |
|
RETURN ON EQUITY |
% |
7.63 |
13.24 |
(8.77) |
|
RETURN ON ASSET |
% |
2.02 |
3.90 |
(3.36) |
|
EARNING PER SHARE |
BAHT |
11.63 |
18.62 |
(10.70) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.74 |
0.71 |
0.62 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.78 |
2.39 |
1.61 |
|
TIME INTEREST EARNED |
TIMES |
3.80 |
5.82 |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(24.53) |
9.67 |
|
|
OPERATING PROFIT |
% |
(31.06) |
(339.81) |
|
|
NET PROFIT |
% |
(37.56) |
274.03 |
|
|
FIXED ASSETS |
% |
(21.04) |
632.84 |
|
|
TOTAL ASSETS |
% |
20.41 |
49.86 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -24.53%. Turnover has decreased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
12.23 |
Acceptable |
Industrial
Average |
18.48 |
|
Net Profit Margin |
2.20 |
Deteriorated |
Industrial
Average |
16.43 |
|
Return on Assets |
2.02 |
Deteriorated |
Industrial
Average |
24.52 |
|
Return on Equity |
7.63 |
Deteriorated |
Industrial
Average |
40.35 |
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 12.23%. 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 2.2%. 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 2.02%.
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 7.63%.
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 |
1.34 |
Deteriorated |
Industrial Average |
3.14 |
|
Quick Ratio |
0.64 |
|
|
|
|
Cash Conversion Cycle |
263.56 |
|
|
|
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 1.34 times in 2013, decreased from 1.4 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 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 0.64 times in 2013,
increased from 0.36 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 264 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.74 |
Acceptable |
Industrial
Average |
0.32 |
|
Debt to Equity Ratio |
2.78 |
Risky |
Industrial
Average |
0.47 |
|
Times Interest Earned |
3.80 |
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 higher the percentage means that the company is using less
equity and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 3.8 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 0.74 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 Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
38.96 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.92 |
Acceptable |
Industrial
Average |
1.49 |
|
Inventory Conversion Period |
202.41 |
|
|
|
|
Inventory Turnover |
1.80 |
Acceptable |
Industrial
Average |
3.43 |
|
Receivables Conversion Period |
185.71 |
|
|
|
|
Receivables Turnover |
1.97 |
Satisfactory |
Industrial
Average |
2.25 |
|
Payables Conversion Period |
124.56 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.97 and
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 196 days at the
end of 2012 to 202 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 1.86 times in year 2012 to 1.8 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.92 times and 1.46
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 Stable
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.42 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.79.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.