MIRA
INFORM REPORT
|
Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
THAI SOCK CO.,
LTD. |
|
|
|
|
Registered Office : |
29/1 Moo
4, Poochaosamingprai Road, T. Samrongklang, A. Phrapradaeng, Samutprakarn 10130 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
30.03.1964 |
|
|
|
|
Com. Reg. No.: |
0105507000815 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in manufacturing and
servicing wide range
of socks, including
sport, formal, casual,
and luxury, under
its own brand
“TSC” and world’s
most famous customer’s
brand, such as
“NIKE”, “NEXT”, “MARKS &
SPENCER”, “GAP”, “HOWICK”,
“HANESBRANDS”, “CONVERSE”, “TM-LEVIN”,
“PAUL SMITH” & etc., as
well as headbands,
wristbands and nylon/polyester yarns.
|
|
|
|
|
No. of Employees |
900 |
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 |
|
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 – 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 and address
THAI
SOCK CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 29/1
MOO 4, POOCHAOSAMINGPRAI ROAD,
T.
SAMRONGKLANG, A. PHRAPRADAENG,
SAMUTPRAKARN 10130,
THAILAND
TELEPHONE : [66] 2754-2767
FAX :
[66] 2384-2834
E-MAIL
ADDRESS : contactus@thaisock.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1964
REGISTRATION
NO. : 0105507000815
TAX
ID NO. : 3271000397
CAPITAL REGISTERED : BHT. 150,000,000
CAPITAL PAID-UP : BHT.
150,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. VICHAI VICHAIWATANAPANICH, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 900
LINES
OF BUSINESS : SOCKS
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on March 30,
1964 as a
private limited company under
the registered name
THAI SOCK CO., LTD.,
by Mr. Vichai and Mr. Tongchai
Vichaiwatanapanich, the Thai family,
with the business
objective to manufacture
wide range of
socks and other
products. It currently
employs approximately 900
staff.
The
subject is the
largest socks manufacturer
in Thailand and one of the
leading Asian sock
suppliers.
On
June 2, 2005,
it achieved the
standard ISO 9001 : 2000 certification
for production quality
systems, and expects
for ISO 14001 : 2004 certification
for environmental management
systems.
The subject’s registered address
is 29/1 Moo 4, Poochaosamingprai
Rd., T. Samrongklang,
A. Phrapradaeng, Samutprakarn
10130, and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Vichai Vichaiwatanapanich |
|
Thai |
85 |
|
Mr. Thongchai
Vichaiwatanapanich |
|
Thai |
68 |
|
Mrs. Vilai Vichaiwatanapanich |
|
Thai |
59 |
|
Mr. Chaiyaphan Tangtorsakul |
|
Thai |
- |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Vichai Vichaiwatanapanich is
the Managing Director.
He is Thai
nationality with the
age of 85
years old.
Mr. Thongchai Vichaiwatanapanich is
the General Manager.
He is Thai
nationality with the
age of 68 years
old.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing and servicing
wide range of
socks, including sport,
formal, casual, and
luxury, under its
own brand “TSC”
and world’s most
famous customer’s brand,
such as “NIKE”, “NEXT”, “MARKS & SPENCER”, “GAP”,
“HOWICK”, “HANESBRANDS”, “CONVERSE”,
“TM-LEVIN”, “PAUL SMITH” & etc., as well as
headbands, wristbands and
nylon/polyester yarns.
PRODUCTION CAPACITY
Approximately 3.2 million pairs
per month, with
over 700 computerized
sock knitting machines.
PURCHASE
Raw
materials are purchased
from suppliers both
domestic and overseas,
mainly in Republic
of China, Japan,
India, Australia and
U.S.A.
SALES
80% of the
products is exported to U.S.A.,
Japan, Hong Kong, Singapore, Korea, Malaysia, Indonesia,
and European countries,
and the remaining
20% 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.
Imports are by
L/C at sight
or T/T on
negotiated terms.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
approximately 900 office
staff and factory
workers.
LOCATION
DETAILS
The
premise is owned
for administrative office
and factory at
the heading address.
Premise is located
in provincial, on
the outskirts of Bangkok.
Branch office is located at 562, 7th Floor, Soi Wad Kanmatuyaram, Rajawong
Road, Chakkrawad, Samphantawong, Bangkok
10100.
COMMENT
The
company has become the
largest sock manufacturer
in Thailand as well
as one of
the leading suppliers
in Asia. With
strong capability and
quality products, the
company has been
trusted by world
leading brands to
produce socks under
the famous names e.g.
NIKE, Marks &
Spencer, GAP and
Hanesbrands, which 80% of the
products are for
export markets.
FINANCIAL INFORMATION
The capital
was registered at Bht. 3,000,000 divided
into 3,000 shares of
Bht. 1,000 each with
fully paid.
The
capital was increased
later as follows:
Bht. 4,000,000
on March
14, 1968
Bht. 8,200,000
on February 21,
1972
Bht. 40,000,000
on October
5, 1983
Bht. 50,000,000
on October
26, 1987
Bht. 150,000,000
on July
17, 2007
The
latest registered capital was
increased to Bht. 150 million, divided
into 150,000 shares
of Bht. 1,000 each
with fully paid.
THE SHAREHOLDERS LISTED WERE
[as
at April 26,
2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Vichai Vichaiwatanapanich Nationality: Thai Address : 964
Mangkorn Rd., Chakrawad,
Samphantawong, Bangkok |
69,583 |
46.39 |
|
Mr. Thongchai
Vichaiwatanapanich Nationality: Thai Address : 217
Vanich 1 Rd.,
Chakrawad,
Samphantawong, Bangkok |
45,564 |
30.37 |
|
Mr. Chaiyaphan Tangtorsakul Nationality: Thai Address : 625/109
Rama 2 Rd.,
Bangmod,
Jomthong, Bangkok |
14,227 |
9.48 |
|
Ms. Pikul Vichaiwatanapanich Nationality: Thai Address : 217
Vanich 1 Rd.,
Chakrawad,
Samphantawong, Bangkok |
7,596 |
5.06 |
|
Mrs. Vilai Vichaiwatanapanich Nationality: Thai Address : 217
Vanich 1 Rd.,
Chakrawad,
Samphantawong, Bangkok |
5,000 |
3.34 |
|
Ms. Arisara Vichaiwatanapanich Nationality: Thai Address : 217
Vanich 1 Rd.,
Chakrawad, Samphantawong, Bangkok |
5,000 |
3.34 |
|
Ms. Wantanee Chunserichai Nationality: Thai Address : 23/1
Soi Petchkasem 36,
Bangchak,
Pasicharoen, Bangkok |
1,500 |
1.00 |
|
Mr. Puang Puangsricharoen Nationality: Thai Address : 252-260
Soi Krungkasem Rd.,
Bangkhunprom, Phranakorn, Bangkok |
1,500 |
1.00 |
|
Mr. Surachai Supabandith Nationality: Thai Address : 2547
Phaholyothin Rd., Ladyao,
Jatujak, Bangkok |
30 |
0.02 |
Total Shareholders : 9
Share Structure [as
at April 26,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
9 |
150,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
9 |
150,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Preeya Vichitjamaree No.
1833
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2012, 2011 & 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
773,351.66 |
1,791,771.05 |
4,771,578.08 |
|
Trade Accounts Receivable
|
106,287,405.30 |
173,187,333.98 |
118,218,724.56 |
|
Inventories |
92,234,722.20 |
91,134,248.45 |
93,175,269.52 |
|
Other Current Assets
|
3,495,418.70 |
7,415,323.33 |
6,896,178.54 |
|
|
|
|
|
|
Total Current Assets
|
202,790,897.86 |
273,528,676.81 |
223,061,750.70 |
|
|
|
|
|
|
Fixed Assets |
67,637,099.66 |
66,843,183.30 |
91,939,959.65 |
|
Other Long - term Investment |
405,816,974.66 |
396,086,874.98 |
396,086,874.98 |
|
Other Non - current Assets |
11,744,824.52 |
10,859,528.38 |
5,415,729.27 |
|
Total Assets |
687,989,796.70 |
747,318,263.47 |
716,504,314.60 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft |
9,498,004.31 |
36,821,392.29 |
45,825,719.66 |
|
Trade Accounts Payable
|
85,453,608.79 |
51,827,256.00 |
77,177,832.44 |
|
Notes Payable |
140,000,000.00 |
261,400,000.00 |
245,000,000.00 |
|
Other Current Liabilities |
46,479,028.48 |
34,176,427.57 |
28,764,756.01 |
|
|
|
|
|
|
Total Current Liabilities |
281,430,641.58 |
384,225,075.86 |
396,768,308.11 |
|
Long-term Loan |
- |
6,920,000.00 |
15,521,817.40 |
|
Total Liabilities |
281,430,641.58 |
391,145,075.86 |
412,290,125.51 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 150,000 shares |
150,000,000.00 |
150,000,000.00 |
150,000,000.00 |
|
|
|
|
|
|
Capital Paid |
150,000,000.00 |
150,000,000.00 |
150,000,000.00 |
|
Retained Earning Unappropriated |
256,559,155.12 |
206,173,187.61 |
154,214,189.09 |
|
Total Shareholders' Equity |
406,559,155.12 |
356,173,187.61 |
304,214,189.09 |
|
Total Liabilities & Shareholders' Equity |
687,989,796.70 |
747,318,263.47 |
716,504,314.60 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
702,204,763.49 |
696,161,165.63 |
707,835,105.20 |
|
Other Income |
6,867,841.83 |
16,012,107.69 |
12,455,686.76 |
|
Total Revenues |
709,072,605.32 |
712,173,273.32 |
720,290,791.96 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
559,853,004.47 |
574,604,116.61 |
624,742,551.25 |
|
Selling Expenses |
14,408,335.57 |
11,878,739.29 |
9,254,137.46 |
|
Administrative Expenses |
71,903,146.70 |
64,310,114.01 |
55,948,064.44 |
|
Total Expenses |
646,164,486.74 |
650,792,969.91 |
689,944,753.15 |
|
|
|
|
|
|
Profit before Financial
Cost & Income Tax |
62,908,118.58 |
61,380,303.41 |
30,346,038.81 |
|
Financial Costs |
[9,091,780.87] |
[9,421,304.89] |
[7,118,956.77] |
|
Income Tax |
[3,430,370.20] |
- |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
50,385,967.51 |
51,958,998.52 |
23,227,082.04 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.72 |
0.71 |
0.56 |
|
QUICK RATIO |
TIMES |
0.38 |
0.46 |
0.31 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
10.38 |
10.41 |
7.70 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.02 |
0.93 |
0.99 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
60.13 |
57.89 |
54.44 |
|
INVENTORY TURNOVER |
TIMES |
6.07 |
6.31 |
6.71 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
55.25 |
90.80 |
60.96 |
|
RECEIVABLES TURNOVER |
TIMES |
6.61 |
4.02 |
5.99 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
55.71 |
32.92 |
45.09 |
|
CASH CONVERSION CYCLE |
DAYS |
59.67 |
115.77 |
70.31 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
79.73 |
82.54 |
88.26 |
|
SELLING & ADMINISTRATION |
% |
12.29 |
10.94 |
9.21 |
|
INTEREST |
% |
1.29 |
1.35 |
1.01 |
|
GROSS PROFIT MARGIN |
% |
21.25 |
19.76 |
13.50 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
8.96 |
8.82 |
4.29 |
|
NET PROFIT MARGIN |
% |
7.18 |
7.46 |
3.28 |
|
RETURN ON EQUITY |
% |
12.39 |
14.59 |
7.64 |
|
RETURN ON ASSET |
% |
7.32 |
6.95 |
3.24 |
|
EARNING PER SHARE |
BAHT |
335.91 |
346.39 |
154.85 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.41 |
0.52 |
0.58 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.69 |
1.10 |
1.36 |
|
TIME INTEREST EARNED |
TIMES |
6.92 |
6.52 |
4.26 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
0.87 |
(1.65) |
|
|
OPERATING PROFIT |
% |
2.49 |
102.27 |
|
|
NET PROFIT |
% |
(3.03) |
123.70 |
|
|
FIXED ASSETS |
% |
1.19 |
(27.30) |
|
|
TOTAL ASSETS |
% |
(7.94) |
4.30 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 0.87%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
21.25 |
Satisfactory |
Industrial
Average |
21.45 |
|
Net Profit Margin |
7.18 |
Impressive |
Industrial
Average |
0.76 |
|
Return on Assets |
7.32 |
Impressive |
Industrial
Average |
1.02 |
|
Return on Equity |
12.39 |
Impressive |
Industrial
Average |
2.40 |
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 21.25%. 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 7.18%,
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
7.32%, 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 12.39%, 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 : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.72 |
Risky |
Industrial
Average |
1.04 |
|
Quick Ratio |
0.38 |
|
|
|
|
Cash Conversion Cycle |
59.67 |
|
|
|
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 0.72 times in 2012, increased from 0.71 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 0.38 times in 2012,
decreased from 0.46 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 60 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.41 |
Impressive |
Industrial
Average |
0.59 |
|
Debt to Equity Ratio |
0.69 |
Impressive |
Industrial
Average |
1.43 |
|
Times Interest Earned |
6.92 |
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 6.92 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 0.41 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 |
10.38 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.02 |
Satisfactory |
Industrial
Average |
1.34 |
|
Inventory Conversion Period |
60.13 |
|
|
|
|
Inventory Turnover |
6.07 |
Impressive |
Industrial
Average |
3.42 |
|
Receivables Conversion Period |
55.25 |
|
|
|
|
Receivables Turnover |
6.61 |
Impressive |
Industrial
Average |
5.95 |
|
Payables Conversion Period |
55.71 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.61 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 58 days at the
end of 2011 to 60 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 6.31 times in year 2011 to 6.07 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.02 times and 0.93 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.58.58 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.79.81 |
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.