MIRA INFORM REPORT
|
Report Date : |
13.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOA PERFORMANCE COATING CORPORATION LTD |
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Formerly Known As : |
TOA ABRASIVES LTD |
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Registered Office : |
31/1 Moo 3, Bangna – |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
30.03.1988 |
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Com. Reg. No.: |
0105531022793 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Distributor and Exporter of Industrial Paints and Other Related Products. |
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No of Employees : |
350 |
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 |
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Payment Behaviour : |
No complaint |
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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, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
With a well-developed infrastructure,
a free-enterprise economy, generally pro-investment policies, and strong export
industries,
|
Source
: CIA |
Company name
TOA PERFORMANCE COATING CORPORATION LTD.
[FORMER:
TOA ABRASIVES LTD.]
SUMMARY
BUSINESS ADDRESS : 31/1
MOO 3,
BANGSAOTHONG,
SAMUTPRAKARN 10540,
TELEPHONE :
[66] 2335-5555
FAX :
[66] 2312-8929
E-MAIL ADDRESS : sale_toapc@toagroup.com
REGISTRATION ADDRESS : SAME AS
BUSINESS ADDRESS
ESTABLISHED
: 1988
REGISTRATION NO. : 0105531022793
TAX
ID NO. : 3101516661
CAPITAL REGISTERED : BHT. 538,000,000
CAPITAL PAID-UP : BHT.
538,000,000
SHAREHOLDER’S PROPORTION : THAI
: 99.78%
JAPANESE :
0.22%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
NATTAVUTH TANGKARAVAKOON, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 350
LINES
OF BUSINESS : INDUSTRIAL PAINTS
AND OTHER RELATED
PRODUCTS
MANUFACTURER,
DISTRIBUTOR AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on March 30,
1988 as a
private limited company
under the originally registered name “TOA-Sankyo Industries
Ltd.” by Thai
and Japanese groups.
On September 16,
2010, its registered
name was changed
to “TOA Abrasives
Ltd.”, and was
finally changed to
TOA PERFORMANCE COATING
CORPORATION LTD., on January 16, 2012. Its business objective
is to manufacture
and distribute industrial
paints and coatings
products. It currently
employs approximately 350
staff.
The
subject is a
subsidiary of TOA
Paint [Thailand] Co., Ltd.,
the Thailand’s leading
manufacturer of paints
and coating products.
The subject’s registered
address is 31/1 Moo 3,
Bangsaothong, Samutprakarn
10540, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTOR
|
Name |
Nationality |
Age |
|
|
|
|
|
Mr. Nattavuth Tangkaravakoon |
Thai |
40 |
|
Mr. Manat Petchbuasak |
Thai |
57 |
|
Mr. Tuan Srikham |
Thai |
61 |
|
Mr. Terdsak Surakitbovorn |
Thai |
51 |
|
Mr. Theera Kongpasook |
Thai |
51 |
|
Mr. Kanit Chaiboriphan |
Thai |
49 |
|
Mr. Tsukasa Akita |
Japanese |
70 |
|
Mr. Satoh Takanori |
Japanese |
63 |
AUTHORIZED PERSON
Any of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Nattavuth Tangkaravakoon is
the Managing Director.
He is Thai
nationality with the
age of 40 years
old.
Mr. Theera Kongpasook is
the G.M. and Production
Director.
He is Thai
nationality with the
age of 51
years old.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting of automotive
refinished paints and industrial
coating products, as
well as industrial
adhesives, and sanding
tools for various
industries, such as
automobiles, metal works,
construction wood and
coatings industry.
BRAND NAME
“TOA”
PURCHASE
Its raw materials
are purchased from
both local and
overseas suppliers in
Japan, Republic of
China, Taiwan and Germany.
SALES
80% of the
products is sold
locally by wholesale
to traders and
manufacturers, the remaining
20% is exported
to Republic of
China, Taiwan, Hong Kong, Pakistan, Brunei,
Singapore, India, Indonesia,
Malaysia and many
countries in Europe
and Middle East.
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 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 T/T.
Exports are against T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
The
Siam Commercial Bank
Public Co., Ltd.
EMPLOYMENT
The subject
currently employs approximately
350 staff.
LOCATION DETAILS
The
premise is owned for
administrative office at
the heading address.
Premise is located
in provincial, on
the outskirts of
Bangkok.
Factory
and warehouse is
located at 329/2
Moo 6, Surasak-Nongkhor Road,
T. Surasak,
A. Sriracha,
Chonburi 20110. Tel. : [66] 38 338-157-9,
Fax. : [66] 38 338-161-2.
COMMENT
The
subject is a
manufacturer, distributor and
exporter of refinished
paints and industrial coating
products, industrial adhesives
and sanding tools.
It reported higher
sales revenue comparing
to the previous
year from high
demand of the
products from related
industries. Generally, its
business is solid
and remains profitable.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 20,000,000 divided
into 200,000 shares
of Bht. 100
each with fully
paid.
The capital
was increased later
as follows:
Bht. 260,000,000
on September 16,
2010
Bht. 538,000,000
on January 8,
2013
The latest
registered capital was
increased to Bht.
538,000,000 divided into
5,380,000 shares of
Bht. 100 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 30,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
TOA Paint [Thailand]
Co., Ltd. Nationality: Thai Address : 31/2
Moo 3, Bangna-Trad Road,
Bangsaothong, Samutprakarn |
5,116,127 |
95.10 |
|
Mr. Wanarat Tangkaravakoon Nationality: Thai Address : 94/1 Soi
Nualnoi, Sukhumvit 63 Road,
Klongtonnua, Wattana, Bangkok
|
83,958 |
1.56 |
|
Mr. Nattavuth Tangkaravakoon Nationality: Thai Address : 94/1
Soi Nualnoi, Sukhumvit
63 Road,
Klongtonnua, Wattana, Bangkok |
83,957 |
1.56 |
|
Mr. Jatupat Tangkaravakoon Nationality: Thai Address : 92/55
Soi Nualnoi, Sukhumvit
63 Road,
Klongtonnua, Wattana, Bangkok
|
83,957 |
1.56 |
|
Mr. Tsukasa Akita Nationality: Japanese Address :
Aiko, Japan |
12,000 |
0.22 |
|
Mr. Prachak Tangkaravakoon Nationality: Thai Address : 107 Sukhumvit 63 Road,
Klongtonnua, Wattana, Bangkok
|
1 |
- |
Total Shareholders
6
Share Structure [as at
April 30, 2014]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
5,368,000 |
99.78 |
|
Foreign - Japanese |
1 |
12,000 |
0.22 |
|
Total |
6 |
5,380,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Vachara Tamnukasetthai
No. 5039
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
235,066,787.29 |
148,163,858.40 |
26,395,025.01 |
|
Trade Accounts Receivable
|
250,669,056.37 |
100,444,314.56 |
62,573,945.70 |
|
Trade Accounts Receivable - Related Company |
136,039,800.67 |
191,480,102.65 |
20,397,739.06 |
|
Other Receivable |
4,720,354.61 |
3,903,761.16 |
1,120,641.78 |
|
Inventories |
410,586,420.18 |
324,777,971.66 |
196,693,027.04 |
|
Loan to Related Company |
13,071,120.00 |
- |
- |
|
Revenue Department Receivable |
7,126,375.79 |
6,423,984.06 |
- |
|
Refundable Value Added Tax |
- |
5,001,165.58 |
176,675.84 |
|
Advance Payment for Goods |
8,575,266.48 |
- |
- |
|
Other Current Assets
|
514,083.90 |
2,168,760.72 |
499,020.78 |
|
|
|
|
|
|
Total Current Assets
|
1,066,369,265.29 |
782,363,918.79 |
307,856,075.21 |
|
Cash at Bank pledged as a Collateral |
200,000.00 |
200,000.00 |
200,000.00 |
|
Fixed Assets |
106,824,779.94 |
99,240,808.33 |
72,635,062.16 |
|
Intangible Assets |
20,168,422.23 |
34,366,844.39 |
3,766,932.68 |
|
Other Non-current Assets |
36,600.00 |
36,600.00 |
36,600.00 |
|
Total Assets |
1,193,599,067.46 |
916,208,171.51 |
384,494,670.05 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Accounts Payable
|
188,846,699.39 |
142,967,942.01 |
31,069,881.98 |
|
Trade Accounts Payable - Related Company |
285,392,165.94 |
284,667,203.61 |
1,066,040.59 |
|
Other Payable |
27,732,382.20 |
35,101,625.76 |
10,168,369.94 |
|
Accrued Commission-Related Company |
- |
- |
1,700,329.59 |
|
Other Payable - Related Company |
16,934,279.28 |
5,311,781.73 |
262,739.35 |
|
Revenue Department Payable |
- |
- |
1,131,285.85 |
|
Current Portion of
Financial Lease Contract Liabilities |
- |
104,935.30 |
595,394.21 |
|
Current Portion of
Estimated Liabilities |
1,853,100.00 |
1,721,307.86 |
- |
|
Accrued Income Tax |
1,188,532.18 |
908,150.49 |
5,439,982.45 |
|
Revenue Received in
Advance |
866,957.73 |
176,022.60 |
3,687,481.75 |
|
Other Current Liabilities |
750,084.58 |
521,697.47 |
232,476.18 |
|
|
|
|
|
|
Total Current Liabilities |
523,564,201.12 |
471,480,666.83 |
55,353,981.89 |
|
Financial Lease Contract Liabilities, Net |
- |
- |
104,935.33 |
|
Employee Benefits Obligation |
22,254,372.57 |
12,530,506.30 |
5,305,215.94 |
|
Total Liabilities |
545,818,573.69 |
484,011,173.13 |
60,764,133.16 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 5,380,000 shares
in 2013; 3,350,000 shares
in 2012 & 2,600,000 shares
in 2011 |
538,000,000.00 |
335,000,000.00 |
260,000,000.00 |
|
|
|
|
|
|
Capital Paid |
538,000,000.00 |
335,000,000.00 |
260,000,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Unappropriated |
105,780,493.77 |
93,196,998.38 |
59,730,536.89 |
|
Total Shareholders' Equity |
647,780,493.77 |
432,196,998.38 |
323,730,536.89 |
|
Total Liabilities & Shareholders' Equity |
1,193,599,067.46 |
916,208,171.54 |
384,494,670.05 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
1,193,734,298.21 |
702,403,029.56 |
412,399,029.84 |
|
Other Income |
|
|
|
|
Revenue administrative-related
company |
19,254,400.00 |
15,127,000.00 |
- |
|
Interest income |
879,151.13 |
371,173.31 |
292,805.06 |
|
Gain on exchange rate |
- |
- |
1,184,961.57 |
|
Others |
13,062,413.98 |
5,173,108.70 |
5,596,449.28 |
|
Total Revenues |
1,226,930,263.32 |
723,074,311.57 |
419,473,245.75 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
976,564,566.78 |
539,367,763.38 |
319,524,282.39 |
|
Selling Expenses |
71,184,342.90 |
52,765,425.77 |
20,595,260.72 |
|
Administrative Expenses |
159,935,162.58 |
95,589,765.25 |
41,373,796.80 |
|
Total Expenses |
1,207,684,072.26 |
687,722,954.40 |
381,493,339.91 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
19,246,191.06 |
35,351,357.17 |
37,979,905.84 |
|
Financial Cost |
[189.63] |
[6,014.37] |
[50,371.66] |
|
Profit before Income
Tax |
19,246,001.43 |
35,345,342.80 |
37,929,534.18 |
|
Income Tax |
[6,662,506.04] |
[1,878,881.31] |
[6,626,899.60] |
|
|
|
|
|
|
Net Profit / [Loss] |
12,583,495.69 |
33,466,461.49 |
31,302,634.58 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.04 |
1.66 |
5.56 |
|
QUICK RATIO |
TIMES |
1.20 |
0.94 |
2.00 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
11.17 |
7.08 |
5.68 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.00 |
0.77 |
1.07 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
153.46 |
219.78 |
224.69 |
|
INVENTORY TURNOVER |
TIMES |
2.38 |
1.66 |
1.62 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
76.65 |
52.20 |
55.38 |
|
RECEIVABLES TURNOVER |
TIMES |
4.76 |
6.99 |
6.59 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
70.58 |
96.75 |
35.49 |
|
CASH CONVERSION CYCLE |
DAYS |
159.52 |
175.23 |
244.58 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
81.81 |
76.79 |
77.48 |
|
SELLING & ADMINISTRATION |
% |
19.36 |
21.12 |
15.03 |
|
INTEREST |
% |
0.00 |
0.00 |
0.01 |
|
GROSS PROFIT MARGIN |
% |
20.97 |
26.15 |
24.24 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.61 |
5.03 |
9.21 |
|
NET PROFIT MARGIN |
% |
1.05 |
4.76 |
7.59 |
|
RETURN ON EQUITY |
% |
1.94 |
7.74 |
9.67 |
|
RETURN ON ASSET |
% |
1.05 |
3.65 |
8.14 |
|
EARNING PER SHARE |
BAHT |
2.34 |
9.99 |
12.04 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.46 |
0.53 |
0.16 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.84 |
1.12 |
0.19 |
|
TIME INTEREST EARNED |
TIMES |
101,493.39 |
5,877.82 |
753.99 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
69.95 |
70.32 |
|
|
OPERATING PROFIT |
% |
(45.56) |
(6.92) |
|
|
NET PROFIT |
% |
(62.40) |
6.91 |
|
|
FIXED ASSETS |
% |
7.64 |
36.63 |
|
|
TOTAL ASSETS |
% |
30.28 |
138.29 |
|
ANNUAL GROWTH: SATISFACTORY
An annual sales growth is 69.95%. Turnover has increased from THB 702,403,029.56
in 2012 to THB 1,193,734,298.21 in 2013. While net profit has decreased from
THB 33,466,461.49 in 2012 to THB 12,583,495.69 in 2013. And total assets has
increased from THB 916,208,171.51 in 2012 to THB 1,193,599,067.46 in 2013.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
20.97 |
Impressive |
Industrial Average |
- |
|
Net Profit Margin |
1.05 |
Impressive |
Industrial Average |
(0.86) |
|
Return on Assets |
1.05 |
Impressive |
Industrial Average |
(0.88) |
|
Return on Equity |
1.94 |
Impressive |
Industrial Average |
(1.62) |
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. Gross Profit Margin is 20.97%. 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. Net Profit Margin ratio is 1.05%,
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
1.05%, 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 1.94%, 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:
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
2.04 |
Impressive |
Industrial Average |
1.47 |
|
Quick Ratio |
1.20 |
|
|
|
|
Cash Conversion Cycle |
159.52 |
|
|
|
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 2.04 times in 2013, increase from
1.66 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 1.2 times in 2013,
increase from 0.94 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 160 days.
Trend of the average
competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.46 |
Impressive |
Industrial Average |
0.50 |
|
Debt to Equity Ratio |
0.84 |
Impressive |
Industrial Average |
1.00 |
|
Times Interest Earned |
101,493.39 |
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 101493.39 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 0.46 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 Uptrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
11.17 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.00 |
Satisfactory |
Industrial Average |
1.02 |
|
Inventory Conversion Period |
153.46 |
|
|
|
|
Inventory Turnover |
2.38 |
Satisfactory |
Industrial Average |
2.86 |
|
Receivables Conversion Period |
76.65 |
|
|
|
|
Receivables Turnover |
4.76 |
Impressive |
Industrial Average |
4.05 |
|
Payables Conversion Period |
70.58 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.76 and 6.99 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
decreased from 2012. 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 220 days at the end of 2012
to 153 days at the end of 2013. This represents a positive trend. And Inventory
turnover has increased from 1.66 times in year 2012 to 2.38 times in year 2013.
The company's Total Asset Turnover is calculated as 1 time and 0.77
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.44 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.44 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.