MIRA
INFORM REPORT
|
Report Date : |
20.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHALONG LATEX INDUSTRY CO., LTD. |
|
|
|
|
Registered Office : |
75/1 Moo 8,
Chana-Nongjik Road, T. Banna, A. Chana, Songkhla
90130 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1986 |
|
|
|
|
Com. Reg. No.: |
0905529000322 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Distributor
of Natural Rubber and
Latex Products |
|
|
|
|
No. of Employees : |
110 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 crisis 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
CHALONG LATEX
INDUSTRY CO., LTD.
SUMMARY
BUSINESS ADDRESS : 75/1 MOO 8,
CHANA-NONGJIK ROAD, T. BANNA,
A.
CHANA, SONGKHLA 90130,
THAILAND
TELEPHONE : [66] 74
207-656-9
FAX : [66] 74
207-655
E-MAIL ADDRESS : clitex@loxinfo.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1986
REGISTRATION NO. : 0905529000322
TAX ID NO. : 3901006997
CAPITAL REGISTERED : BHT.
70,000,000
CAPITAL PAID-UP : BHT.
70,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. CHALONG TECHAPATRAKUL, THAI
MANAGING DIRECTOR
NO. OF STAFF : 110
LINES OF BUSINESS : NATURAL RUBBER
AND LATEX PRODUCTS
MANUFACTURER, EXPORTER
AND DISTRIBUTOR
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH FAIR PERFORMANCE
HISTORY
The subject was
established on June 18, 1986
as a private
limited company under the registered name
CHALONG LATEX INDUSTRY
CO., LTD., by
Thai groups, with the
business objective to
manufacture natural rubber
and latex products
for both export
and domestic markets,
with BOI promoted
by Board of
Investment [BOI]. It currently
employs approximately 110 staff.
It achieved the standard
ISO 9001 : 2000 certificate for
quality management system
and ISO 14000 for
environmental management system.
The subject’s registered
address is 75/1
Moo 8, Chana-Nongjik
Rd., T. Banna,
A. Chana, Songkhla
90130, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Chalong Techapatrakul |
[x] |
Thai |
70 |
|
Mrs. Ladawan Techapatrakul |
[x] |
Thai |
71 |
|
Mr. Abhichart Techapatrakul |
[x] |
Thai |
41 |
|
Mr. Chaiyuth Techapatrakul |
|
Thai |
36 |
|
Mrs. Kobkul Suthamprachak |
|
Thai |
55 |
|
Mr. Prayoon Suthamprachak |
[x] |
Thai |
66 |
AUTHORIZED PERSON
Any two of
the mentioned directors
[x] can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Chalong Techapatrakul is
the Managing Director.
He is Thai
nationality with the
age of 70
years old.
Mrs. Ladawan Techapatrakul is
the Deputy Managing
Director.
She is Thai nationality with
the age of 71 years
old.
Mr. Abhichart Techapatrakul is
the Sales & Marketing Manager.
He is Thai
nationality with the
age of 41
years old.
Mr. Chaiyuth Techapatrakul
is the Chief
of Exports.
He is Thai
nationality with the
age of 36
years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, exporting and distributing natural
rubber products, especially STR products,
such as STR 5CV50,
STR 5CV60, STR 5L,
STR XL, and
skim block, with the
production capacity of
18,000 tons per
annum, as well as
natural latex concentrated,
comprising centrifuged latex
high ammonia 60%
DRC, centrifuged latex
medium ammonia 60%
DRC and centrifuged
latex low ammonia
60% DRC, with
the production capacity
of 30,000 tons
per annum.
The products are
supplied to various
industries, such as
rubber products, industrial
gloves, shoe sole,
furniture, automobile parts
industries and etc.
PRODUCTION CAPACITY
Natural Latex Concentrated
:
30,000 tons per
annum
STR products :
18,000 tons per
annum
PURCHASE
100% of natural
latex and chemical
are purchased from
local planters and
suppliers.
SALES
90% of the products is
exported to Indonesia,
Republic of China,
Hong Kong, Singapore,
U.S.A., Japan, India,
Vietnam, Canada, Taiwan,
Pakistan, Mexico, Columbia
and the countries
in Middle East
and Europe, the remaining 10%
is sold locally.
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.
Exports are against
L/C or T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Thanachart Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 110 office
staff and factory
workers.
LOCATION DETAILS
The premise is
owned for administrative office
and factory on
320,000 square meters
of land at
the heading address.
Premise is located
in provincial, in
the Southern region.
COMMENT
Subject is a
manufacturer, distributor and exporter of rubber
and latex products. The products
are for industrial
users. The subject
reported slow sales
in 2012 from
decreasing demand of
the products by
related industries associated
with a low
price of natural
rubber since the
previous year.
However, exports of
industrial parts in 2013
had seen continuing decreased since 2012.
This was also a
direct impact to
rubber industry from
less demand of rubber
parts.
FINANCIAL INFORMATION
The capital was
registered at Bht. 2,000,000
divided into 200 shares of
Bht. 10,000 each with fully paid.
The capital was
increased later as
follows:
Bht. 10,000,000
on June 3,
1987
Bht. 20,000,000
on October 12,
1994
Bht. 30,000,000
on September 10,
1996
Bht. 40,000,000
on July 29,
2004
Bht. 50,000,000
on October 3,
2007
Bht. 70,000,000
on March 30,
2010
The latest registered
capital was increased
to Bht. 70 million, divided
into 7,000 shares
of Bht. 10,000 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE
[as at April 30,
2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Ladawan Techapatrakul Nationality: Thai Address : 22
Moo 2, T. Banna,
A. Chana, Songkhla |
2,895 |
41.36 |
|
Mr. Chalong Techapatrakul Nationality: Thai Address : 22
Moo 2, T. Banna,
A. Chana, Songkhla |
2,700 |
38.57 |
|
Mr. Abhichart Techapatrakul Nationality: Thai Address : 76
Moo 8, T. Banna, A. Chana,
Songkhla |
770 |
11.00 |
|
Mr. Chaiyuth Techapatrakul Nationality: Thai Address : 75/1
Moo 8, T. Banna, A. Chana,
Songkhla |
608 |
8.69 |
|
Mr. Kasem Techapatrakul Nationality: Thai Address : 59/2
Moo 3, T. Banna, A. Chana,
Songkhla |
10 |
0.14 |
|
Mr. Prayoon Suthamprachak Nationality: Thai Address : 32
Srinil 1 Rd., T. Hadyai, A. Hadyai, Songkhla |
10 |
0.14 |
|
Mrs. Kobkul Suthamprachak Nationality: Thai Address : 2
Yala Rd., T. Sataeng,
A. Muang, Yala |
7 |
0.10 |
Total Shareholders : 7
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
7,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
7,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Ms. Somkaew
Runglertkriengkrai No. 2715
BALANCE SHEET [BAHT]
The latest financial
figures published for
December 31, 2012, 2011 & 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalent |
7,031,020.56 |
26,670,553.63 |
40,070,003.61 |
|
Investment - Fixed Account |
22,963,730.85 |
10,404,530.33 |
13,575,325.30 |
|
Trade Accounts Receivable |
48,227,925.23 |
108,015,327.94 |
93,608,001.50 |
|
Short-term Lending to
Related Person |
19,257,061.90 |
13,300,000.00 |
- |
|
Inventories |
63,090,771.51 |
61,106,762.37 |
99,008,676.85 |
|
Other Current Assets |
2,492,641.58 |
13,446,121.58 |
2,128,419.78 |
|
|
|
|
|
|
Total Current Assets
|
163,063,151.63 |
232,943,295.85 |
248,390,427.04 |
|
|
|
|
|
|
Other Long-term Investment |
1,200,000.00 |
1,200,000.00 |
1,200,000.00 |
|
Fixed Assets |
181,641,549.11 |
154,273,962.99 |
151,510,780.19 |
|
Other Non-current Assets |
4,468,708.51 |
4,377,977.09 |
4,300,187.80 |
|
Total Assets |
350,373,409.25 |
392,795,235.93 |
405,401,395.03 |
LIABILITIES & SHAREHOLDERS’
EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft & Short-term
Loan from Financial Institution |
197,088,154.90 |
226,689,806.82 |
254,750,000.00 |
|
Trade Accounts &
Other Payable |
9,191,751.64 |
10,038,391.81 |
6,371,355.82 |
|
Short-term Loan from Related Company |
- |
4,000,000.00 |
- |
|
Other Current Liabilities |
4,292,739.51 |
5,462,830.55 |
6,653,977.72 |
|
|
|
|
|
|
Total Current Liabilities |
210,572,646.05 |
246,191,029.18 |
267,775,333.54 |
|
|
|
|
|
|
Long-term Loan from Financial Institution |
58,428,277.89 |
65,543,786.80 |
85,782,525.10 |
|
Total Liabilities |
269,000,923.94 |
311,734,815.98 |
353,557,858.64 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10,000
par value authorized, issued
and fully paid share
capital 7,000 shares |
70,000,000.00 |
70,000,000.00 |
70,000,000.00 |
|
|
|
|
|
|
Capital Paid |
70,000,000.00 |
70,000,000.00 |
70,000,000.00 |
|
Retained Earning : Appropriated for
Statutory Reserve |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Unappropriated |
7,372,485.31 |
7,060,419.95 |
[22,156,463.61] |
|
Total Shareholders' Equity |
81,372,485.31 |
81,060,419.95 |
51,843,536.39 |
|
Total Liabilities &
Shareholders' Equity |
350,373,409.25 |
392,795,235.93 |
405,401,395.03 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
1,136,889,209.71 |
1,867,957,272.73 |
2,051,035,919.96 |
|
Other Income |
7,647,820.05 |
16,936,558.76 |
4,133,567.86 |
|
Total Revenues |
1,144,537,029.76 |
1,884,893,831.49 |
2,055,169,487.82 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,045,647,478.70 |
1,732,288,481.05 |
1,970,049,895.29 |
|
Selling Expenses |
16,925,435.29 |
86,909,116.36 |
74,552,831.90 |
|
Administrative Expenses |
64,019,287.10 |
16,730,905.87 |
19,994,233.46 |
|
Total Expenses |
1,126,592,201.09 |
1,835,928,503.28 |
2,064,596,960.65 |
|
|
|
|
|
|
Profit before Financial Cost |
17,944,828.67 |
48,965,328.21 |
[9,427,472.83] |
|
Financial Cost |
[17,632,763.31] |
[19,748,444.65] |
[15,404,627.55] |
|
|
|
|
|
|
Net Profit / [Loss] |
312,065.36 |
29,216,883.56 |
[24,832,100.38] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.77 |
0.95 |
0.93 |
|
QUICK RATIO |
TIMES |
0.46 |
0.64 |
0.55 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
6.26 |
12.11 |
13.54 |
|
TOTAL ASSETS TURNOVER |
TIMES |
3.24 |
4.76 |
5.06 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
22.02 |
12.88 |
18.34 |
|
INVENTORY TURNOVER |
TIMES |
16.57 |
28.35 |
19.90 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
15.48 |
21.11 |
16.66 |
|
RECEIVABLES TURNOVER |
TIMES |
23.57 |
17.29 |
21.91 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
3.21 |
2.12 |
1.18 |
|
CASH CONVERSION CYCLE |
DAYS |
34.30 |
31.87 |
33.82 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.97 |
92.74 |
96.05 |
|
SELLING & ADMINISTRATION |
% |
7.12 |
5.55 |
4.61 |
|
INTEREST |
% |
1.55 |
1.06 |
0.75 |
|
GROSS PROFIT MARGIN |
% |
8.70 |
8.17 |
4.15 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.58 |
2.62 |
(0.46) |
|
NET PROFIT MARGIN |
% |
0.03 |
1.56 |
(1.21) |
|
RETURN ON EQUITY |
% |
0.38 |
36.04 |
(47.90) |
|
RETURN ON ASSET |
% |
0.09 |
7.44 |
(6.13) |
|
EARNING PER SHARE |
BAHT |
44.58 |
4,173.84 |
(3,547.44) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.77 |
0.79 |
0.87 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.31 |
3.85 |
6.82 |
|
TIME INTEREST EARNED |
TIMES |
1.02 |
2.48 |
(0.61) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(39.14) |
(8.93) |
|
|
OPERATING PROFIT |
% |
(63.35) |
(619.39) |
|
|
NET PROFIT |
% |
(98.93) |
217.66 |
|
|
FIXED ASSETS |
% |
17.74 |
1.82 |
|
|
TOTAL ASSETS |
% |
(10.80) |
(3.11) |
|
ANNUAL GROWTH : RISKY
An annual sales growth is -39.14%. Turnover has decreased from THB
1,867,957,272.73 in 2011 to THB 1,136,889,209.71 in 2012. While net profit has
decreased from THB 29,216,883.56 in 2011 to THB 312,065.36 in 2012. And total
assets has decreased from THB 392,795,235.93 in 2011 to THB 350,373,409.25 in
2012.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
8.70 |
Acceptable |
Industrial Average |
15.25 |
|
Net Profit Margin |
0.03 |
Deteriorated |
Industrial Average |
1.02 |
|
Return on Assets |
0.09 |
Deteriorated |
Industrial Average |
3.07 |
|
Return on Equity |
0.38 |
Deteriorated |
Industrial Average |
9.10 |
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 8.7%. 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 0.03%.
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 0.09%.
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 0.38%.
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 |
0.77 |
Risky |
Industrial Average |
1.19 |
|
Quick Ratio |
0.46 |
|
|
|
|
Cash Conversion Cycle |
34.30 |
|
|
|
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 0.77 times in 2012, decreased from 0.95 times, then the company may not be
efficiently using its current assets. 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 0.46 times in 2012,
decreased from 0.64 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 35 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.77 |
Acceptable |
Industrial Average |
0.64 |
|
Debt to Equity Ratio |
3.31 |
Risky |
Industrial Average |
1.79 |
|
Times Interest Earned |
1.02 |
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 1.02 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 0.77 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
6.26 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
3.24 |
Impressive |
Industrial Average |
3.01 |
|
Inventory Conversion Period |
22.02 |
|
|
|
|
Inventory Turnover |
16.57 |
Impressive |
Industrial Average |
6.86 |
|
Receivables Conversion Period |
15.48 |
|
|
|
|
Receivables Turnover |
23.57 |
Impressive |
Industrial Average |
8.13 |
|
Payables Conversion Period |
3.21 |
|
|
|
The company's Account Receivable Ratio is calculated as 23.57 and 17.29
in 2012 and 2011 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 2012
increased from 2011. 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 13 days at the
end of 2011 to 22 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 28.35 times in year 2011 to 16.57
times in year 2012.
The company's Total Asset Turnover is calculated as 3.24 times and 4.76
times in 2012 and 2011 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.61.35 |
|
|
1 |
Rs.100.21 |
|
Euro |
1 |
Rs.83.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.