MIRA
INFORM REPORT
|
Report Date : |
26.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASIA DYESTUFF
INDUSTRIES CO., LTD. |
|
|
|
|
Registered Office : |
141 Rama 2 Road, [Thonburi-Pakthor], Jomthong, Bangkok 10150 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
12.10.1984 |
|
|
|
|
Com. Reg. No.: |
0105527036921 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged
in manufacturing and
marketing of dyestuff and
related chemicals for
textile and paper
industries, under the
various brands, “AKAPHOR”,
“AKASOL”, “BENEFIX”,
“ADIRON”, “BENECION”, “BENERECT”,
“BENEFAST”, “BENERON”, “BENETEX”,
“BENEWHITE” and “BENETHRENE”. |
|
|
|
|
No. of Employees |
100 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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
ASIA
DYESTUFF INDUSTRIES CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 141
RAMA 2 ROAD, [THONBURI-PAKTHOR],
JOMTHONG, BANGKOK
10150 , THAILAND
TELEPHONE : [66] 2874-2021-3,
2874-2205-6
FAX :
[66] 2427-5889
E-MAIL
ADDRESS : adi@adithai.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1984
REGISTRATION
NO. : 0105527036921 [Former
: 3694/ 2527]
TAX
ID NO. : 3101318357
CAPITAL REGISTERED : BHT. 250,000,000
CAPITAL PAID-UP : BHT.
250,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE
: MR.
SOMPONG CHERNVIRIYAKUL, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 100
LINES
OF BUSINESS : DYESTUFF
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 October 12, 1984 as a private
limited company under
the name style JEERAWAT DYESTUFF CO., LTD, by Thai group,
Chernviriyakul family, in
order to manufacture and
market dyestuff and
related chemicals for
textile industry.
On April 2, 1990, the
subject changed its name to
ASIA DYESTUFF INDUSTRIES
CO., LTD. It
currently employs approximately 100 staff.
The
subject’s registered address
was initially at 455
Moo 3,
Rama 2 Rd.,
Bangpakok,
Rajburana,
Bangkok 10140.
On
October 28, 2009,
subject’s registered address
was changed to
141 Rama 2
Rd., [Thonburi-Pakthor],
Jomthong, Bangkok 10150, by Jomthong District
Office. However, both addresses
are the same
location, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sompong Chernviriyakul |
[x] |
Thai |
63 |
|
Mr. Rawat Chernviriyakul |
[-] |
Thai |
36 |
|
Mr. Nateephat [Theera]
Chernviriyakul |
|
Thai |
40 |
|
Mr. Varanthanat Chernviriyakul |
|
Thai |
45 |
Note.
Mr. Theera
Chernviriyakul changed his
name to Nateephat Chernviriyakul, on
June 4, 2007.
AUTHORIZED PERSON
The mentioned director
[x] signs or
the director [-]
can jointly sign
with one of
the rest directors
on behalf of the subject
with company’s affixed.
MANAGEMENT
Mr. Sompong Chernviriyakul is
the Managing Director.
He is Thai
nationality with the
age of 63
years old.
Mr. Nateephat Chernviriyakul is
the Marketing Manager.
He is Thai
nationality with the
age of 40
years old.
Mr. Rawat Chernviriyakul is
the General Manager
& Factory Manager.
He is Thai
nationality with the
age of 36
years old.
BUSINESS OPERATIONS
The subject is engaged
in manufacturing and
marketing of dyestuff and
related chemicals for
textile and paper
industries, under the
various brands, “AKAPHOR”,
“AKASOL”, “BENEFIX”,
“ADIRON”, “BENECION”, “BENERECT”,
“BENEFAST”, “BENERON”, “BENETEX”,
“BENEWHITE” and “BENETHRENE”.
Range of the
product are as
follows:
- Textile Industry: reactive
dyes, direct dyes,
disperse dyes, acid
dyes, basic dyes,
vat dyes, optical
brighteners, and pigment
emulsion.
- Paper
Industry:
liquid direct dyes
and liquid optical
brighteners.
PRODUCTION
20,000 tons/year
PURCHASE
Raw materials are
purchased from suppliers
and agents both
domestic and overseas
in Germany, India,
Republic of China,
Japan and Taiwan.
MAJOR SUPPLIERS
Mitsubishi
Chemical [Thailand] Co., Ltd. : Thailand
Suyog
Limited :
India
SALES [LOCAL]
60% of the
products is sold
locally by wholesale
to manufacturers.
EXPORT
40% of the products is exported to Japan, Myanmar, Indonesia,
Vietnam, Bangladesh, Pakistan, Egypt,
Romania, Taiwan, India, Republic of
China, Korea, Australia, Uzbekistan, U.S.A., Columbia
and Peru.
MAJOR CUSTOMER
Double A [1991] Public Company
Limited :
Thailand
RELATED COMPANIES
Asia Thai Trading
Co., Ltd.
Business : Manufacturer
of dyestuff
Asia Kudos Associates
Co., Ltd.
Business Type :
Distributor of dyestuff
TDC Industrial Co.,
Ltd.
Business Type :
Real estate and
land developer
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
credit term of
30-60 days.
Imports are by
L/C on the
credits term of
90-180 days or
T/T.
Exports are against
L/C at sight
or on the
credits term of
60-120 days or
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office,
333 Silom Rd.,
Silom, Bangrak, Bangkok]
EMPLOYMENT
The
subject employs approximately
100 staff.
LOCATION
DETAILS
The premise
is owned for
administrative office in a 6
storey building at the heading
address. Premise is
located in commercial/residential area.
Factory and warehouse are located at 71/1
Moo 6, Soi Ronggas, Rama 2 Rd., Thasai, Muang,
Samutsakorn 74000. Tel. : [66]
34 815-431-3, Fax. : [66]
34 815-434.
COMMENT
The
subject was formed in
1984 as a
manufacturer, distributor and
exporter of dyestuff
and related chemicals
for textile and
paper industries. The
products are mainly
supplied to industrial users.
Stunning
growth of domestic
industries in 2014
would result by
weak private consumption and
investment.
FINANCIAL INFORMATION
The
capital was registered at
Bht. 1,000,000 divided into
10,000 shares of Bht. 100 each.
The
capital was increased
later as following:
Bht. 32,000,000
on October 25,
1985
Bht. 50,000,000
on April 10,
1987
Bht. 100,000,000
on October 14,
1987
Bht. 150,000,000
on August 20,
1990
Bht. 250,000,000
on January 27,
1994
The
latest registered capital
was increased to
Bht. 250,000,000 divided
into 2,500,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Sompong Chernviriyakul Nationality: Thai Address : 71/1
Moo 6, Thasai, Muang,
Samutsakorn |
875,000 |
35.00 |
|
Mr. Rawat Chernviriyakul Nationality: Thai Address : 16/1
Chuaplerng Rd., Thungmahamek,
Sathorn, Bangkok |
425,000 |
17.00 |
|
Mr. Nateephat Chernviriyakul Nationality: Thai Address : 62/3
Moo 1, Thakham, Bangkhunthien, Bangkok |
400,000 |
16.00 |
|
Mr. Varanthanat Chernviriyakul Nationality: Thai Address : 88/8
Moo 1, Rama
2 Rd., Thakam,
Bangkhunthien, Bangkok |
400,000 |
16.00 |
|
Mr. Piya Chernviriyakul Nationality: Thai Address : 62/3
Moo 1, Thakham, Bangkhunthien, Bangkok |
400,000 |
16.00 |
Total Shareholders : 5
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
2,500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
5 |
2,500,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO
Mr. Chusak Sinserikul No.
4621
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
2,735,468.96 |
2,914,777.11 |
4,591,670.66 |
|
Short-term Investment |
5,256,953.27 |
14,000,000.00 |
7,000,000.00 |
|
Trade Accounts & Other
Receivable |
69,102,537.12 |
69,556,722.41 |
42,456,115.59 |
|
Inventories |
109,865,861.75 |
92,545,718.37 |
104,625,620.43 |
|
Other Current Assets
|
851,323.34 |
19,100.75 |
326,631.47 |
|
|
|
|
|
|
Total Current Assets
|
187,812,144.44 |
179,036,318.64 |
159,000,038.15 |
|
|
|
|
|
|
Fixed Assets |
93,088,290.61 |
93,661,494.59 |
93,866,864.29 |
|
Other Non-current Assets |
18,000.00 |
41,000.00 |
34,000.00 |
|
Total Assets |
280,918,435.05 |
272,738,813.23 |
252,900,902.44 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Bank |
42,781,253.83 |
30,150,462.67 |
12,919,461.49 |
|
Trade Accounts & Other Payable |
12,383,548.97 |
18,113,186.46 |
13,719,396.15 |
|
Current Portion of Lease Contract Payable |
- |
- |
628,755.84 |
|
Advance Income from
Goods |
- |
- |
484,195.47 |
|
Accrued Income Tax |
362,874.26 |
360,214.00 |
467,167.00 |
|
Other Current Liabilities |
33,707.81 |
578,056.14 |
2,125,449.43 |
|
|
|
|
|
|
Total Current Liabilities |
55,561,384.87 |
49,201,919.27 |
30,344,425.38 |
|
|
|
|
|
|
Other Non-current Liabilities |
- |
30,000.00 |
30,000.00 |
|
Total Liabilities |
55,561,384.87 |
49,231,919.27 |
30,374,425.38 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 2,500,000 shares |
250,000,000.00 |
250,000,000.00 |
250,000,000.00 |
|
|
|
|
|
|
Capital Paid |
250,000,000.00 |
250,000,000.00 |
250,000,000.00 |
|
Retained Earning -
Unappropriated |
[24,642,949.82] |
[26,493,106.04] |
[27,473,522.94] |
|
Total Shareholders' Equity |
225,357,050.18 |
223,506,893.96 |
222,526,477.06 |
|
Total Liabilities &
Shareholders' Equity |
280,918,435.05 |
272,738,813.23 |
252,900,902.44 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
181,472,961.64 |
165,262,261.60 |
167,967,046.55 |
|
Other Income |
2,452,983.47 |
206,285.97 |
1,842,692.35 |
|
Total Revenues |
183,925,945.11 |
165,468,547.57 |
169,809,738.90 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
161,637,748.89 |
144,330,115.06 |
150,406,662.00 |
|
Selling Expenses |
4,500,090.45 |
4,546,404.63 |
4,959,986.16 |
|
Administrative Expenses |
13,761,129.14 |
13,852,543.80 |
12,195,603.58 |
|
Total Expenses |
179,898,968.48 |
162,729,063.49 |
167,562,251.74 |
|
|
|
|
|
|
Profit before Finance Cost
& Income Tax |
4,026,976.63 |
2,739,484.08 |
2,247,487.16 |
|
Finance Cost |
[1,422,781.33] |
[1,008,853.18] |
[551,301.33] |
|
Profit before Income Tax |
2,604,195.30 |
1,730,630.90 |
1,696,185.83 |
|
Income Tax |
[754,039.08] |
[750,214.00] |
[760,167.00] |
|
|
|
|
|
|
Net Profit / [Loss] |
1,850,156.22 |
980,416.90 |
936,018.83 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.38 |
3.64 |
5.24 |
|
QUICK RATIO |
TIMES |
1.39 |
1.76 |
1.78 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.95 |
1.76 |
1.79 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.65 |
0.61 |
0.66 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
248.09 |
234.04 |
253.90 |
|
INVENTORY TURNOVER |
TIMES |
1.47 |
1.56 |
1.44 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
138.99 |
153.62 |
92.26 |
|
RECEIVABLES TURNOVER |
TIMES |
2.63 |
2.38 |
3.96 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
27.96 |
45.81 |
33.29 |
|
CASH CONVERSION CYCLE |
DAYS |
359.12 |
341.86 |
312.87 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
89.07 |
87.33 |
89.55 |
|
SELLING & ADMINISTRATION |
% |
10.06 |
11.13 |
10.21 |
|
INTEREST |
% |
0.78 |
0.61 |
0.33 |
|
GROSS PROFIT MARGIN |
% |
12.28 |
12.79 |
11.55 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.22 |
1.66 |
1.34 |
|
NET PROFIT MARGIN |
% |
1.02 |
0.59 |
0.56 |
|
RETURN ON EQUITY |
% |
0.82 |
0.44 |
0.42 |
|
RETURN ON ASSET |
% |
0.66 |
0.36 |
0.37 |
|
EARNING PER SHARE |
BAHT |
0.74 |
0.39 |
0.37 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.20 |
0.18 |
0.12 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.25 |
0.22 |
0.14 |
|
TIME INTEREST EARNED |
TIMES |
2.83 |
2.72 |
4.08 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
9.81 |
(1.61) |
|
|
OPERATING PROFIT |
% |
47.00 |
21.89 |
|
|
NET PROFIT |
% |
88.71 |
4.74 |
|
|
FIXED ASSETS |
% |
(0.61) |
(0.22) |
|
|
TOTAL ASSETS |
% |
3.00 |
7.84 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 9.81%. Turnover has increased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
12.28 |
Deteriorated |
Industrial
Average |
34.05 |
|
Net Profit Margin |
1.02 |
Deteriorated |
Industrial
Average |
2.12 |
|
Return on Assets |
0.66 |
Deteriorated |
Industrial
Average |
4.25 |
|
Return on Equity |
0.82 |
Deteriorated |
Industrial
Average |
9.42 |
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 12.28%. 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 1.02%.
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 0.66%.
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 0.82%.
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 |
3.38 |
Impressive |
Industrial
Average |
1.40 |
|
Quick Ratio |
1.39 |
|
|
|
|
Cash Conversion Cycle |
359.12 |
|
|
|
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 3.38 times in 2012, decreased from 3.64 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 1.39 times in 2012,
decreased from 1.76 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 360 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.20 |
Impressive |
Industrial
Average |
0.61 |
|
Debt to Equity Ratio |
0.25 |
Impressive |
Industrial
Average |
1.56 |
|
Times Interest Earned |
2.83 |
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 2.84 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 0.2 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.95 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.65 |
Deteriorated |
Industrial
Average |
2.01 |
|
Inventory Conversion Period |
248.09 |
|
|
|
|
Inventory Turnover |
1.47 |
Deteriorated |
Industrial
Average |
8.42 |
|
Receivables Conversion Period |
138.99 |
|
|
|
|
Receivables Turnover |
2.63 |
Acceptable |
Industrial
Average |
4.61 |
|
Payables Conversion Period |
27.96 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.63 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 234 days at the
end of 2011 to 248 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 1.56 times in year 2011 to 1.47 times
in year 2012.
The company's Total Asset Turnover is calculated as 0.65 times and 0.61
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.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.80 |
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.