MIRA INFORM REPORT
|
Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
OSC SIAM SILICA CO., LTD. |
|
|
|
|
Formerly Known As : |
TOKUYAMA SIAM SILICA CO., LTD. |
|
|
|
|
Registered Office : |
7th Floor, Asoke
Tower, 213/6 Soi Sukhumvit 21,
Sukhumvit Road, Klongtoeynua, Wattana,
Bangkok 10110, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
13.06.1988 |
|
|
|
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Com. Reg. No.: |
0105531042921 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in manufacturing,
exporting and distributing industrial
chemicals, specialized in silicon dioxide and sodium silica |
|
|
|
|
No. of Employees : |
180 |
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 : |
No complaints |
|
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 |
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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. 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 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
|
Source
: CIA |
Company
name
OSC SIAM SILICA CO., LTD.
[ FORMER :
TOKUYAMA SIAM SILICA
CO., LTD. ]
SUMMARY
BUSINESS
ADDRESS : 7th FLOOR,
ASOKE TOWER,
213/6 SOI
SUKHUMVIT 21, SUKHUMVIT
ROAD,
KLONGTOEYNUA, WATTANA,
BANGKOK 10110,
THAILAND
TELEPHONE : [66] 2664-3922
FAX :
[66] 2664-3933
E-MAIL
ADDRESS : osc-siam@apsilica.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1988
REGISTRATION
NO. : 0105531042921
TAX
ID NO. : 3101530544
CAPITAL REGISTERED : BHT. 389,267,500
CAPITAL PAID-UP : BHT.
389,267,500
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. PAO YI
KENG, TAIWANESE
PRESIDENT
NO.
OF STAFF : 180
LINES
OF BUSINESS : INDUSTRIAL CHEMICALS
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
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 13,
1988 as a
private limited company under
the originally registered name “Pornpat Chemicals
Co., Ltd.”, by Thai
and Japanese groups in order to
produce precipitated silica
products. It is
the first silica
factory in Asean.
On May 31 2004, the
subject underwent a
major change when it
merged with Siam Silica Co., Ltd. (co-investing with
Lih Hsiang International
Ltd. of Taiwan
and Oriental Silica
Corporation, Taiwan), then
its name was changed to “Tokuyama Siam
Silica Co., Ltd.”
On
March 1, 2012,
its registered name
was finally changed
to OSC SIAM
SILICA CO., LTD.
The subject currently
employs approximately 180
staff.
The subject’s registered address was initially
located at 38th
Flr.,Ocean Tower II, 75/106 Sukhumvit 19
Rd., Klongtoeynua, Wattana, Bangkok
10110.
On
November 1, 2013,
its registered address
was relocated to 7th Floor,
Asoke Tower, Soi
Sukhumvit 21, Sukhumvit
Rd., Klongtoeynua, Wattana,
Bangkok 10110, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Lin Shiou Chyi |
[x] |
Taiwanese |
58 |
|
Mr. Hsu Chen Chi |
|
Taiwanese |
64 |
|
Mr. Li Wen Chun |
|
Taiwanese |
63 |
|
Mr. Pao Yi Keng |
[x] |
Taiwanese |
52 |
|
Mr. Li Ming Wei |
|
Taiwanese |
35 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Pao Yi Keng
is the President.
He is Taiwanese
nationality with the
age of 52
years old.
Mr. Pongthorn Maitreemitr is
the Plant Manager.
He is Thai
nationality.
Mr. Prachak Nuengla-or is
the Deputy Plant
Manager.
He is Thai
nationality.
Ms. Sudsaward Sanguansak is
the General Manager -
Finance & Accounting Manager.
She is Thai
nationality.
Mr. Sombat Hongpaitoon is
the General Manager - Sales &
Marketing Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, exporting and distributing
industrial chemicals, specialized
in silicon dioxide and sodium
silica, under the “TOKUSIL”
trademark. Its products
are widely used in
diverse applications including
footwear, elastomeric,
rubbers, tire, agricultural
products, food ingredients and
dentifrice production industries.
PRODUCTION CAPACITY
Approximately 33,000 metric
tons per annum
PURCHASE
Raw materials and chemicals
are purchased from
suppliers both domestic and
overseas, in Taiwan,
Japan, Republic of China, India
and Germany.
MAJOR
SUPPLIERS
Oriental
Silica Corporation : Taiwan
Witcorp
Chemicals Ltd. : Thailand
PTT
Public Company Limited : Thailand
SALES
80% of the
products is exported
to Japan, Vietnam,
Indonesia, Singapore, Philippines,
India, Taiwan, Republic
of China, Ecuador,
and the remaining 20% is
sold locally.
MAJOR CUSTOMER
Continental Tire Andina
S.A. : Ecuador
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
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.
The
Siam Commercial Bank
Public Co., Ltd.
EMPLOYMENT
The
subject employs approximately
180 staff.
LOCATION
DETAILS
The premise
is rented for
administrative office at
the heading address.
Premise is located
in a prime
commercial area.
Factory
I is located
at 2 I-3A
Rd., Maptaphut Industrial
Estate, T. Maptaphut,
A. Muang,
Rayong 21150. Tel. : [66] 38 683-366-8,
Fax. : [66] 38 683-839.
Factory
II is located
at 6 I-3A
Rd., Maptaphut Industrial
Estate, T. Maptaphut,
A. Muang,
Rayong 21150. Tel. : [66] 38 683-366-8,
Fax.: [66] 38 683-839.
COMMENT
Tokuyama
group is producing and selling
mainly chemical products such as soda
ash and caustic soda, vinyl
chloride monomer/polymer, film
products, fine chemicals, medical materials, electronics materials, cement,
plastic window sashes
and so on, as well as
providing services related
to those products.
The
company is a
member of Tokuyama Group, which
its core business
is a manufacture high
quality precipitated silica.
Since establishment the
company has gained
its expertise in specialty chemical, which
consistently excellent products. This has
enabled the company to
play a greater
role internationally and
constitutes a good
reason that healthy
growth can be expected
in future.
Despite
economy slowdown subject
still maintains healthy
business.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 100,000,000
divided into 1,000,000
shares of Bht.
100 each with
fully paid.
The
capital was increased
later as follows:
Bht. 150,000,000
on June 6,
1989
Bht. 182,000,000
on April 29,
1999
Bht. 389,267,500
on May 31,
2004
The latest
registered capital was increased to Bht. 389,267,500 divided into 3,892,675 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 22, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Oriental Silica Corporation Nationality: Taiwanese Address : Taipei,
Taiwan |
3,041,475 |
78.13 |
|
Lih Hsiang International Ltd. Nationality: British Virgin
Island Address : I-Lan,
Taiwan |
851,199 |
21.87 |
|
Mr. Lin Shiou Chyi Nationality: Taiwanese Address : 75/106
Sukhumvit 19 Rd.,
Klongtoeynua,
Wattana, Bangkok |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 22,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
3 |
3,892,675 |
100.00 |
|
Total |
3 |
3,892,675 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Pornthip Rimdusit No.
5565
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 |
41,614,902 |
12,871,200 |
68,851,502 |
|
Trade Accounts Receivable |
222,944,780 |
197,910,968 |
178,795,088 |
|
Other Receivable |
5,518,638 |
5,966,018 |
- |
|
Inventories |
192,295,970 |
193,606,589 |
136,963,101 |
|
Other Current Assets |
16,106,593 |
16,037,882 |
18,464,572 |
|
|
|
|
|
|
Total Current Assets
|
478,480,883 |
426,392,657 |
403,074,263 |
|
|
|
|
|
|
Cash at Bank pledged as a Collateral |
63,000,000 |
- |
- |
|
Fixed Assets |
361,918,423 |
413,551,421 |
373,876,841 |
|
Intangible Assets |
246,295 |
685,041 |
1,222,298 |
|
Deposit |
4,659,773 |
1,817,423 |
1,855,423 |
|
Total Assets |
908,305,374 |
842,446,542 |
780,028,825 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Short-term Loan from Financial Institutions |
219,194,623 |
119,000,000 |
- |
|
Trade Accounts Payable |
69,941,632 |
129,618,092 |
114,584,815 |
|
Other Payable - Related Company |
- |
2,434,564 |
1,628,410 |
|
Current Portion of Financial
Lease Contract Liabilities |
- |
- |
60,000,000 |
|
Other Payable |
30,665,363 |
43,149,595 |
- |
|
Accrued Income Tax |
4,911,685 |
7,267,917 |
10,973,700 |
|
Other Current Liabilities |
2,308,658 |
2,274,303 |
42,654,983 |
|
|
|
|
|
|
Total Current Liabilities |
327,021,961 |
303,744,471 |
229,841,908 |
|
|
|
|
|
|
Estimated Liabilities for Employees’ Benefits |
12,359,253 |
9,741,602 |
- |
|
Total Liabilities |
339,381,214 |
313,486,073 |
229,841,908 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 3,892,675 shares |
389,267,500 |
389,267,500 |
389,267,500 |
|
|
|
|
|
|
Capital Paid |
389,267,500 |
389,267,500 |
389,267,500 |
|
Retained Earnings Appropriated for
Statutory Reserve |
28,378,882 |
28,378,882 |
24,534,193 |
|
Unappropriated |
151,277,778 |
111,314,087 |
136,385,224 |
|
Total Shareholders' Equity |
568,924,160 |
528,960,469 |
550,186,917 |
|
Total Liabilities &
Shareholders' Equity |
908,305,374 |
842,446,542 |
780,028,825 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
1,305,847,526 |
1,185,993,040 |
1,067,157,463 |
|
Gain on Exchange
Rate |
- |
10,219,272 |
- |
|
Other Income |
2,823,529 |
1,358,655 |
2,964,186 |
|
Total Revenues |
1,308,671,055 |
1,197,570,967 |
1,070,121,649 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,120,053,261 |
1,032,995,630 |
854,617,570 |
|
Selling Expenses |
111,751,756 |
98,452,596 |
91,958,274 |
|
Administrative Expenses |
14,047,618 |
27,952,380 |
13,896,304 |
|
Loss on Exchange Rate |
2,755,021 |
- |
3,607,754 |
|
Total Expenses |
1,248,607,656 |
1,159,400,606 |
964,079,902 |
|
|
|
|
|
|
Profit before Financial
Cost & Income Tax |
60,063,399 |
38,170,361 |
106,041,747 |
|
Financial Cost |
[9,295,909] |
[2,838,717] |
[4,418,384] |
|
Profit before Income Tax |
50,767,490 |
35,331,644 |
101,623,363 |
|
Income Tax |
[10,803,799] |
[17,631,342] |
[24,729,570] |
|
|
|
|
|
|
Net Profit / [Loss] |
39,963,691 |
17,700,302 |
76,893,793 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.46 |
1.40 |
1.75 |
|
QUICK RATIO |
TIMES |
0.83 |
0.71 |
1.08 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.61 |
2.87 |
2.85 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.44 |
1.41 |
1.37 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
62.66 |
68.41 |
58.50 |
|
INVENTORY TURNOVER |
TIMES |
5.82 |
5.34 |
6.24 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
62.32 |
60.91 |
61.15 |
|
RECEIVABLES TURNOVER |
TIMES |
5.86 |
5.99 |
5.97 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
22.79 |
45.80 |
48.94 |
|
CASH CONVERSION CYCLE |
DAYS |
102.19 |
83.52 |
70.71 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
85.77 |
87.10 |
80.08 |
|
SELLING & ADMINISTRATION |
% |
9.63 |
10.66 |
9.92 |
|
INTEREST |
% |
0.71 |
0.24 |
0.41 |
|
GROSS PROFIT MARGIN |
% |
14.44 |
13.88 |
20.19 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.60 |
3.22 |
9.94 |
|
NET PROFIT MARGIN |
% |
3.06 |
1.49 |
7.21 |
|
RETURN ON EQUITY |
% |
7.02 |
3.35 |
13.98 |
|
RETURN ON ASSET |
% |
4.40 |
2.10 |
9.86 |
|
EARNING PER SHARE |
BAHT |
10.27 |
4.55 |
19.75 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.37 |
0.37 |
0.29 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.60 |
0.59 |
0.42 |
|
TIME INTEREST EARNED |
TIMES |
6.46 |
13.45 |
24.00 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
10.11 |
11.14 |
|
|
OPERATING PROFIT |
% |
57.36 |
(64.00) |
|
|
NET PROFIT |
% |
125.78 |
(76.98) |
|
|
FIXED ASSETS |
% |
(12.49) |
10.61 |
|
|
TOTAL ASSETS |
% |
7.82 |
8.00 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 10.11%. Turnover has increased from THB
1,185,993,040.00 in 2011 to THB 1,305,847,526.00 in 2012. While net profit has
increased from THB 17,700,302.00 in 2011 to THB 39,963,691.00 in 2012. And
total assets has increased from THB 842,446,542.00 in 2011 to THB
908,305,374.00 in 2012.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
14.44 |
Deteriorated |
Industrial Average |
69.18 |
|
Net Profit Margin |
3.06 |
Deteriorated |
Industrial Average |
11.75 |
|
Return on Assets |
4.40 |
Deteriorated |
Industrial Average |
8.80 |
|
Return on Equity |
7.02 |
Acceptable |
Industrial Average |
12.05 |
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 14.44%. 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 3.06%.
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 4.4%.
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 7.02%.
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 |
1.46 |
Acceptable |
Industrial Average |
2.04 |
|
Quick Ratio |
0.83 |
|
|
|
|
Cash Conversion Cycle |
102.19 |
|
|
|
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 1.46 times in 2012, decrease 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 0.83 times in 2012,
increase from 0.71 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 103 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.37 |
Acceptable |
Industrial Average |
0.23 |
|
Debt to Equity Ratio |
0.60 |
Impressive |
Industrial Average |
0.29 |
|
Times Interest Earned |
6.46 |
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 6.47 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 0.37 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 |
3.61 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.44 |
Impressive |
Industrial Average |
0.75 |
|
Inventory Conversion Period |
62.66 |
|
|
|
|
Inventory Turnover |
5.82 |
Satisfactory |
Industrial Average |
6.22 |
|
Receivables Conversion Period |
62.32 |
|
|
|
|
Receivables Turnover |
5.86 |
Impressive |
Industrial Average |
5.15 |
|
Payables Conversion Period |
22.79 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.86 and 5.99 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
decreased from 2011. 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 68 days at the
end of 2011 to 63 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 5.34 times in year 2011 to 5.82 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.44 times and 1.41
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.61.86 |
|
|
1 |
Rs.103.52 |
|
Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.