MIRA INFORM REPORT
|
Report Date : |
11.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
PARAGON MACHINERY CO., LTD. |
|
|
|
|
Registered Office : |
473 Bond Street Road, T. Bangpood, A. Pakkred, Nonthaburi 11120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
25.09.1992 |
|
|
|
|
Com. Reg. No.: |
0105535133484 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Distributor of Industrial Parts. |
|
|
|
|
No. of Employees : |
150 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. 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
PARAGON MACHINERY
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 473
BOND STREET ROAD,
T. BANGPOOD,
A.
PAKKRED, NONTHABURI 11120,
THAILAND
TELEPHONE : [66] 2960-2090
FAX :
[66] 2960-2094
E-MAIL
ADDRESS : paragonnet@msn.com
REGISTRATION
ADDRESS : 161/12-13 VIBHAVADI-RANGSIT 76
ROAD,
SIKAN, DONMUANG,
BANGKOK 10210,
THAILAND
ESTABLISHED
: 1992
REGISTRATION
NO. : 0105535133484
TAX
ID NO. : 3011181645
CAPITAL REGISTERED : BHT. 50,000,000
CAPITAL PAID-UP : BHT.
50,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. PEERAPONG CHEAWWATTANAKUL, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 150
LINES
OF BUSINESS : INDUSTRIAL PARTS
IMPORTER 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 September 25,
1992 as a
private limited company under
the name style
PARAGON MACHINERY CO.,
LTD., by Thai
groups, in order
to import and distribute wide
range of replacement
parts for heavy
equipment and industrial
machinery widely used
in the commercial
industries, agriculture, building & infrastructure construction,
forestry, marine and
mining industries. It
currently employs approximately
150 staff.
The subject’s registered address is
161/12-13 Vibhavadi-Rangsit 76 Rd.,
Sikan, Donmuang, Bangkok
10210, and while
the current operation
address is 473 Bond
Street Road, T. Bangpood, A. Pakkred, Nonthaburi
11120.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Peerapong Chiewwattanakul |
|
Thai |
50 |
|
Mrs. Panida Chiewwattanakul |
|
Thai |
46 |
|
Mr. Pichet Chiewwattanakul |
|
Thai |
51 |
AUTHORIZED
PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Peerapong Chiewwattanakul is
the Managing Director.
He is Thai nationality with
the age of 50 years
old.
Mr. Pisith Chiewwattanakul is
the Finance & Account Manager.
He is Thai
nationality.
BUSINESS
OPERATIONS
The subject is
engaged in importing and distributing wide
range of replacement parts
for heavy equipment
and industrial machinery
with more than
500,000 line items
with over 70
renowned brands. Ranges
of products are
as follows:
- Undercarriage
Parts
·
Track Chains
·
Rollers
·
Track Shoes
·
Sprockets
and segments
·
Idlers
and tension groups
- Complete
Undercarriage
- Excavator
and mobile crane
complete undercarriages
- Crusher
sideframes
- Concrete
paver sideframes
- Universal
sideframes
- Drilling
sideframes
- Road
milling, surface, mining
and paver sideframes
- Spare
Parts
·
Agricultural
parts
·
Cutting
system
·
Electrical
components
·
Starting
motor, filtration
·
Bimetal
bushing
·
Spring
bearing
·
Excavator
·
Crane [mobile & crawler]
·
Battery
·
Sealing
system
·
Road
milling components
·
Section
[Rasspe]
·
Engineering parts
·
Alternator
·
Hydraulic
components
·
Gear
components
·
Friction
disc & plate/brake pad, universal
joint
·
Bucket
pin bushing
MAJOR BRANDS
“I-TRAC”, “KSC”, “SAMSUNG”,
“KOBELCO”, “CATERPILLAR”, “KOMATSU”,
“KATO”, “HITACHI”, “CUMMINS”,
“SUMITOMO”, “NIKKO”, “MITSUBISHI” , “SANDVIK”,
“HOPPECKE”, “LIEBHERR”, “CUKUROVA” and etc.
PURCHASE
80% of the
products is imported
mainly from Germany, and
the rest from U.S.A.,
Italy, Japan, United Kingdom, Korea, India,
Republic of China,
Taiwan and Malaysia, as
well as the remaining
20% is purchased
from local suppliers.
MAJOR SUPPLIERS
Inter
Tractor GmbH. : Germany
Caterpillar
Corporate : U.S.A.
Komatsu
Ltd. : Japan
Gebr.
Schumacher GmbH. : Germany
Sandvik
Mining and Construction
Sandvik Asia Pvt.
Ltd. : India
Hoppecke
Carl Zoller & Sohn GmbH. : Germany
SALES
100% of the
products is sold
locally to dealers,
manufacturers and end-users.
MAJOR CUSTOMER
Enercare Co., Ltd. : Thailand
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 IRICO’S
DATABASE 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 on the
credits term of
30-60 or T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Donmuang Branch,
Vibhavadi-Rangsit Rd., Donmuang,
Bangkok]
Kasikornbank Public Co.,
Ltd.
[Donmuang Branch,
Vibhavadi-Rangsit Rd., Donmuang,
Bangkok]
EMPLOYMENT
The
subject employs approximately
150 office and
services staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
and warehouse at the heading
address. Premise is
located in commercial/residential area.
Branches
:
- 301/1-2
Moo 4, Chaengwattana
Rd., Thungsonghong, Laksi,
Bangkok
- 470/7-8
Moo 2, Vachiravudhdamnern Rd.,
T. Phrabatr, A. Muang, Lampang
- 55
Moo 2, Phaholyothin
Rd., T. Lamsai, A. Wangnoi.
Ayutthaya.
COMMENT
The subject
is one of the leading importers
and distributors of
machinery and spare parts in
domestic market. Its products and
services have been
served to various
industries. Subject’s performance was
related to the
condition of industrial consumption, which
is likely to
expand slowly from
the previous year.
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. 10,000,000
on May 25,
2000
Bht. 50,000,000
on September 3,
2007
The
latest registered capital
was increased to
Bht. 50 million, divided
into 500,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Siriporn Chiewwattanakul Nationality: Thai Address : 19/51 Moo
17, T. Kukot, A. Lamlukka, Pathumthani |
195,000 |
39.00 |
|
Mrs. Panida Chiewwattanakul Nationality: Thai Address :
73/5 Rama 4
Rd., Klongtoey, Bangkok |
130,000 |
26.00 |
|
Mr. Peerapong Chiewwattanakul Nationality: Thai Address : 19/51
Moo 17, T. Kukot,
A. Lamlukka, Pathumthani |
90,000 |
18.00 |
|
Mr. Pichet Chiewwattanakul Nationality: Thai Address : 200/2
Moo 3, Tharaeng, Bangkhen, Bangkok |
85,000 |
17.00 |
Total Shareholders : 4
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
4 |
500,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED
PUBLICACCOUNTANT NO.:
Mr. Wuttichai Sirikantisopon No.
8226
BALANCE
SHEET [BAHT]
The
latest financial figures
published for December 31, 2013,
2012 & 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
669,395.60 |
787,726.00 |
733,914.38 |
|
Trade Accounts & Other
Receivable |
148,984,580.20 |
137,366,356.36 |
741,676,695.97 |
|
Short-term Loan to Related Company |
9,891,097.00 |
245,913.00 |
- |
|
Inventories |
290,471,558.21 |
284,455,975.05 |
182,329,268.59 |
|
Other Current Assets |
3,232,152.22 |
8,484,901.34 |
- |
|
|
|
|
|
|
Total Current Assets
|
453,248,783.23 |
431,340,871.75 |
924,739,878.94 |
|
Fixed Assets |
81,232,207.06 |
77,616,569.57 |
20,373,407.32 |
|
Other Non-current Assets
|
7,963,297.68 |
7,455,697.68 |
142,609.00 |
|
Total Assets |
542,444,287.97 |
516,413,139.00 |
945,255,895.26 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Bank Overdraft and Short-term Loan from Financial
Institutions |
168,788,080.86 |
55,337,272.51 |
7,895,127.46 |
|
Trade Accounts &
Other Payable |
107,871,316.56 |
146,128,311.47 |
54,000,000.00 |
|
Current Portion of Liabilities |
11,512,679.31 |
12,752,081.91 |
585,816,849.96 |
|
Accrued Income Tax |
3,187,336.28 |
- |
3,364,021.94 |
|
|
|
|
|
|
Total Current Liabilities |
291,359,413.01 |
214,217,665.89 |
651,075,999.36 |
|
Long-term Loan |
- |
- |
195,644,384.22 |
|
Long-term Loan from Financial Institution |
16,964,774.37 |
22,919,851.74 |
14,830,267.22 |
|
Loan from Related Person |
151,298,655.66 |
216,016,734.91 |
- |
|
Hire-purchase Payable |
3,410,329.01 |
10,235,933.38 |
6,504,405.10 |
|
Total Liabilities |
463,033,172.05 |
463,390,185.92 |
868,055,055.90 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 500,000 shares |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
|
|
|
|
|
Capital Paid |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Retained Earning -
Unappropriated |
29,411,115.92 |
3,022,953.08 |
27,200,839.36 |
|
Total Shareholders' Equity |
79,411,115.92 |
53,022,953.08 |
77,200,836.36 |
|
Total Liabilities &
Shareholders' Equity |
542,444,287.97 |
516,413,139.00 |
945,255,895.26 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Sales Income |
456,233,462.36 |
305,305,708.71 |
840,846,416.45 |
|
Services Income |
- |
- |
26,953,733.42 |
|
Other Income |
4,630,031.12 |
9,535,227.90 |
132,490.62 |
|
Total Revenues |
460,863,493.48 |
314,840,936.61 |
867,932,640.49 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
321,766,093.31 |
253,177,718.43 |
777,023,862.88 |
|
Cost of Services |
- |
- |
2,326,143.10 |
|
Selling Expenses |
8,128,280.95 |
14,780,621.39 |
7,676,097.84 |
|
Administrative Expenses |
91,979,559.42 |
51,874,736.04 |
39,093,410.45 |
|
Other Expenses |
- |
- |
18,451,042.54 |
|
Total Expenses |
421,873,933.68 |
319,833,075.86 |
844,570,556.81 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost & Income Tax |
38,989,559.80 |
[4,992,139.25] |
23,362,083.68 |
|
Financial Cost |
[8,433,615.84] |
[19,185,747.03] |
[5,456,584.21] |
|
Profit / [Loss] before Income Tax |
30,555,943.96 |
[24,177,886.28] |
17,905,499.47 |
|
Income Tax |
[4,167,781.12] |
- |
[6,160,401.55] |
|
|
|
|
|
|
Net Profit / [Loss] |
26,388,162.84 |
[24,177,886.28] |
11,745,097.92 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.56 |
2.01 |
1.42 |
|
QUICK RATIO |
TIMES |
0.55 |
0.65 |
1.14 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.62 |
3.93 |
42.59 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.84 |
0.59 |
0.92 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
329.50 |
410.09 |
85.39 |
|
INVENTORY TURNOVER |
TIMES |
1.11 |
0.89 |
4.27 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
119.19 |
164.22 |
311.95 |
|
RECEIVABLES TURNOVER |
TIMES |
3.06 |
2.22 |
1.17 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
122.37 |
210.67 |
25.29 |
|
CASH CONVERSION CYCLE |
DAYS |
326.33 |
363.65 |
372.05 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
70.53 |
82.93 |
89.81 |
|
SELLING & ADMINISTRATION |
% |
21.94 |
21.83 |
5.39 |
|
INTEREST |
% |
1.85 |
6.28 |
0.63 |
|
GROSS PROFIT MARGIN |
% |
30.49 |
20.20 |
10.21 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
8.55 |
(1.64) |
2.69 |
|
NET PROFIT MARGIN |
% |
5.78 |
(7.92) |
1.35 |
|
RETURN ON EQUITY |
% |
33.23 |
(45.60) |
15.21 |
|
RETURN ON ASSET |
% |
4.86 |
(4.68) |
1.24 |
|
EARNING PER SHARE |
BAHT |
52.78 |
(48.36) |
23.49 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.85 |
0.90 |
0.92 |
|
DEBT TO EQUITY RATIO |
TIMES |
5.83 |
8.74 |
11.24 |
|
TIME INTEREST EARNED |
TIMES |
4.62 |
(0.26) |
4.28 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
49.43 |
(64.82) |
|
|
OPERATING PROFIT |
% |
(881.02) |
(121.37) |
|
|
NET PROFIT |
% |
209.14 |
(305.86) |
|
|
FIXED ASSETS |
% |
4.66 |
280.97 |
|
|
TOTAL ASSETS |
% |
5.04 |
(45.37) |
|
ANNUAL
GROWTH: IMPRESSIVE
An annual sales growth is 49.43%. Turnover has increased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
30.49 |
Impressive |
Industrial
Average |
0.11 |
|
Net Profit Margin |
5.78 |
Impressive |
Industrial
Average |
0.72 |
|
Return on Assets |
4.86 |
Deteriorated |
Industrial
Average |
10.09 |
|
Return on Equity |
33.23 |
Acceptable |
Industrial
Average |
55.13 |
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 30.49%. 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. The company’s figure is 5.78%, 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. When compared with the
industry average, it was lower, the company's figure is 4.86%.
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 33.23%.
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 |
1.56 |
Impressive |
Industrial
Average |
1.04 |
|
Quick Ratio |
0.55 |
|
|
|
|
Cash Conversion Cycle |
326.33 |
|
|
|
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 1.56 times in 2013, decreased from 2.01 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 0.55 times in 2013,
decreased from 0.65 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 327 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.85 |
Acceptable |
Industrial
Average |
0.82 |
|
Debt to Equity Ratio |
5.83 |
Risky |
Industrial
Average |
4.68 |
|
Times Interest Earned |
4.62 |
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 higher the percentage means that the company is using less equity
and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 4.63 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 0.85 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
5.62 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.84 |
Deteriorated |
Industrial
Average |
13.96 |
|
Inventory Conversion Period |
329.50 |
|
|
|
|
Inventory Turnover |
1.11 |
Deteriorated |
Industrial
Average |
165.02 |
|
Receivables Conversion Period |
119.19 |
|
|
|
|
Receivables Turnover |
3.06 |
Deteriorated |
Industrial
Average |
9.90 |
|
Payables Conversion Period |
122.37 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.06 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 decreased from 410 days at the
end of 2012 to 330 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 0.89 times in year 2012 to 1.11 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.84 times and 0.59
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.61.16 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.77.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.