MIRA INFORM REPORT
|
Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
PYRAMID JEWEL’S & ART CO., LTD. |
|
|
|
|
Registered Office : |
Suite No. 2509 - 2510, 25th Floor, Jewelry Trade Center, North Tower, 919/323 Silom Road, Silom, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
15.08.1996 |
|
|
|
|
Com. Reg. No.: |
0105539089871 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in importing,
distributing, re-exporting and
exporting various kinds
of diamonds, gemstones and
semi-precious stones, such
as blue sapphire,
emerald and sapphire,
ruby stone and
etc., as well
as jewelry products. |
|
|
|
|
No of Employees : |
2 |
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 – 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
PYRAMID JEWEL’S
& ART CO., LTD.
SUMMARY
BUSINESS ADDRESS : SUITE NO. 2509 - 2510,
25th FLOOR,
JEWELRY
TRADE CENTER, NORTH
TOWER,
919/323
SILOM ROAD, SILOM,
BANGRAK,
BANGKOK
10500, THAILAND
TELEPHONE
: [66] 2630-1300-1, 0 89 204-0421
FAX : [66] 2630-1302
E-MAIL ADDRESS : pyramid@asiaaccess.net.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1996
REGISTRATION NO. : 0105539089871
TAX ID NO. : 3011753385
CAPITAL REGISTERED : BHT.
26,000,000
CAPITAL PAID-UP : BHT.
26,000,000
SHAREHOLDER’S PROPORTION : THAI
: 51.00%
INDIAN
: 49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. NAVEEN KACHOLIA,
INDIAN
MANAGING DIRECTOR
NO. OF STAFF : 2
LINES OF BUSINESS : DIAMONDS, GEMS
AND JEWELRY PRODUCTS
IMPORTER, 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 August
15, 1996 as a
private limited company
under the registered name
PYRAMID JEWEL’S & ART
CO., LTD., by Thai and Indian
groups, with the
business objective to
import and distribute diamonds, gems
and jewelry products
to both domestic
and international markets.
It currently employs
2 staff.
The subject’s registered
address is Suite No. 2510, 25th Floor,
Jewelry Trade Center,
North Tower, 919/323
Silom Road, Silom, Bangrak,
Bangkok 10500, while
the current operating
address is located
at Suite 2509 - 2510 at
the same building.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Naveen Kacholia |
[x] |
Indian |
37 |
|
Mr. Anil Kumar Kothari |
|
Indian |
53 |
AUTHORIZED PERSON
Only the mentioned
director [x] can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Naveen Kacholia is
the Managing Director.
He is Indian
nationality with the
age of 37 years
old.
BUSINESS OPERATIONS
The subject is
engaged in importing,
distributing, re-exporting and
exporting various kinds
of diamonds, gemstones and
semi-precious stones, such
as blue sapphire,
emerald and sapphire,
ruby stone and
etc., as well
as jewelry products.
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas, mainly in
India.
SALES
Its products are
sold to customers
both local and
overseas, mainly in
India,
Hong Kong and
Republic of China.
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 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.
EMPLOYMENT
The subject currently
employs 2 staff.
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is located
in a prime commercial
area.
COMMENT
Since the year
2013, growth of
domestic consumption of
jewelry products has been slowing
down compared to the previous
year’s level. Thai
economy is expected
to decline under
the burden of
rising household debt.
Consumers are likely
to cut spending
especially for non-essential
items.
FINANCIAL INFORMATION
The capital was
registered at Bht. 2,000000
divided into 20,000
shares of Bht.
100
each with fully
paid.
The capital was
increased later as
follows:
Bht. 4,000,000 on June
1, 1999
Bht. 6,000,000 on October
2, 2001
Bht. 8,000,000 on January
28, 2004
Bht. 10,000,000 on
February 1, 2005
Bht. 12,000,000 on
May 20, 2005
Bht. 26,000,000 on
December 2, 2005
The latest registered
capital was increased
to Bht. 26,000,000 divided into
260,000 shares of
Bht. 100 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 30,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Anil Kumar Kothari Nationality: Indian Address : 134/164 Charoennakorn Road,
Klongsan, Bangkok |
89,180 |
34.30 |
|
Ms. Thanyachon Trongjit Nationality: Thai Address : 50/133
Soi Prachauthit 33
Yaek 4, Bangkae, Thungkru,
Bangkok |
44,200 |
17.00 |
|
Ms. Banyen Pokpong Nationality: Thai Address : 5/71 Liabfangnua Road,
Nongkaem, Bangkok |
44,200 |
17.00 |
|
Ms. Thipvimon
Taweechotkitcharoen Nationality: Thai Address : 99/378
Nonsee Road, Chongnonsi,
Yannawa, Bangkok |
44,200 |
17.00 |
|
Mr. Naveen Kacholia Nationality: Indian Address : 9919/323
Silom Road, Silom,
Bangrak, Bangkok |
38,220 |
14.70 |
Total Shareholders : 5
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
132,600 |
51.00 |
|
Foreign-Indian |
2 |
127,400 |
49.00 |
|
Total |
5 |
260,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Somboon Chim-on No.
1962
BALANCE SHEET
[BAHT]
The latest financial
figures published for December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
334,086.53 |
521,211.14 |
119,505.83 |
|
Trade Accounts &
Other Receivable |
38,340,511.83 |
20,931,726.08 |
20,051,344.78 |
|
Inventories |
14,457,357.05 |
13,452,515.62 |
13,338,399.34 |
|
Other Current Assets
|
7,858.93 |
7,450.27 |
10,228.24 |
|
|
|
|
|
|
Total Current Assets
|
53,139,814.34 |
34,912,903.11 |
33,519,478.19 |
|
Long-term Loan |
4,100,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Fixed Assets |
311,590.99 |
666,383.96 |
1,034,708.29 |
|
Total Assets |
57,551,405.33 |
39,579,287.07 |
38,554,186.48 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from
Financial Institution |
12,996,012.84 |
1,497,440.00 |
7,217,730.69 |
|
Trade Accounts & Other
Payable |
12,700,545.56 |
7,839,069.42 |
1,083,278.46 |
|
Current Portion of
Hire-purchase Contract Payable |
- |
263,250.00 |
263,250.00 |
|
Accrued Income Tax |
257,392.74 |
84,144.43 |
204,213.90 |
|
|
|
|
|
|
Total Current Liabilities |
25,953,951.14 |
9,683,903.85 |
8,768,473.05 |
|
Hire-purchase Contract Payable,
Net of Current Portion |
- |
- |
263,250.00 |
|
Long-term Loan |
350,000.00 |
350,000.00 |
350,000.00 |
|
Deferred Income Tax
Liabilities |
29,144.05 |
7,607.38 |
31,439.65 |
|
Total Liabilities |
26,333,095.19 |
10,041,511.23 |
9,413,162.70 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value Authorized &
issued share capital
260,000 shares
|
26,000,000.00 |
26,000,000.00 |
26,000,000.00 |
|
|
|
|
|
|
Capital Paid |
26,000,000.00 |
26,000,000.00 |
26,000,000.00 |
|
Retained Earning - Unappropriated
[Deficit] |
5,218,310.14 |
3,537,775.84 |
3,141,023.78 |
|
|
|
|
|
|
Total Shareholders' Equity |
31,218,310.14 |
29,537,775.84 |
29,141,023.78 |
|
Total Liabilities &
Shareholders' Equity |
57,551,405.33 |
39,579,287.07 |
38,554,186.48 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales |
54,927,042.06 |
30,498,584.78 |
36,801,428.50 |
|
Interest Income |
306,791.78 |
271,945.21 |
340,698.63 |
|
Other Income |
449,890.72 |
193,930.42 |
244,087.99 |
|
Gain on Exchange
Rate |
55,085.37 |
127,277.85 |
602,525.57 |
|
Total Revenues |
55,738,809.93 |
31,091,738.26 |
37,988,740.69 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
46,383,647.83 |
22,370,535.30 |
30,010,807.56 |
|
Selling Expenses |
1,357,033.00 |
1,575,365.78 |
1,120,632.25 |
|
Administrative Expenses |
5,305,605.04 |
6,113,487.11 |
5,416,044.55 |
|
Total Expenses |
53,046,285.87 |
30,059,388.19 |
36,547,484.36 |
|
|
|
|
|
|
Profit / Loss] before Financial
Cost & Income Tax |
2,692,524.06 |
1,032,350.07 |
1,441,256.33 |
|
Financial Cost |
[554,597.02] |
[361,703.58] |
[402,116.22] |
|
Income Tax |
[457,392.74] |
[273,894.43] |
[399,213.90] |
|
Net Profit / [Loss] |
1,680,534.30 |
396,752.06 |
639,926.21 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.05 |
3.61 |
3.82 |
|
QUICK RATIO |
TIMES |
1.49 |
2.22 |
2.30 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
176.28 |
45.77 |
35.57 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.95 |
0.77 |
0.95 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
113.77 |
219.49 |
162.23 |
|
INVENTORY TURNOVER |
TIMES |
3.21 |
1.66 |
2.25 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
254.78 |
250.51 |
198.87 |
|
RECEIVABLES TURNOVER |
TIMES |
1.43 |
1.46 |
1.84 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
99.94 |
127.90 |
13.18 |
|
CASH CONVERSION CYCLE |
DAYS |
268.60 |
342.10 |
347.92 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
84.45 |
73.35 |
81.55 |
|
SELLING & ADMINISTRATION |
% |
12.13 |
25.21 |
17.76 |
|
INTEREST |
% |
1.01 |
1.19 |
1.09 |
|
GROSS PROFIT MARGIN |
% |
17.03 |
28.60 |
21.68 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.90 |
3.38 |
3.92 |
|
NET PROFIT MARGIN |
% |
3.06 |
1.30 |
1.74 |
|
RETURN ON EQUITY |
% |
5.38 |
1.34 |
2.20 |
|
RETURN ON ASSET |
% |
2.92 |
1.00 |
1.66 |
|
EARNING PER SHARE |
BAHT |
6.46 |
1.53 |
2.46 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.46 |
0.25 |
0.24 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.84 |
0.34 |
0.32 |
|
TIME INTEREST EARNED |
TIMES |
4.85 |
2.85 |
3.58 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
80.10 |
(17.13) |
|
|
OPERATING PROFIT |
% |
160.82 |
(28.37) |
|
|
NET PROFIT |
% |
323.57 |
(38.00) |
|
|
FIXED ASSETS |
% |
(53.24) |
(35.60) |
|
|
TOTAL ASSETS |
% |
45.41 |
2.66 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 80.1%. Turnover has increased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
17.03 |
Impressive |
Industrial Average |
3.01 |
|
Net Profit Margin |
3.06 |
Impressive |
Industrial Average |
0.58 |
|
Return on Assets |
2.92 |
Satisfactory |
Industrial Average |
3.55 |
|
Return on Equity |
5.38 |
Deteriorated |
Industrial Average |
14.14 |
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 17.03%. 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 3.06%, 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 2.92%.
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 5.38%.
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 |
2.05 |
Impressive |
Industrial Average |
1.60 |
|
Quick Ratio |
1.49 |
|
|
|
|
Cash Conversion Cycle |
268.60 |
|
|
|
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 2.05 times in 2013, decreased from 3.61 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 1.49 times in 2013,
decreased from 2.22 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 269 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.46 |
Impressive |
Industrial Average |
0.73 |
|
Debt to Equity Ratio |
0.84 |
Impressive |
Industrial Average |
2.73 |
|
Times Interest Earned |
4.85 |
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 4.86 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 0.46 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 Downtrend
Times Interest Earned Stable
ACTIVITY : ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
176.28 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.95 |
Deteriorated |
Industrial Average |
6.16 |
|
Inventory Conversion Period |
113.77 |
|
|
|
|
Inventory Turnover |
3.21 |
Deteriorated |
Industrial Average |
12.03 |
|
Receivables Conversion Period |
254.78 |
|
|
|
|
Receivables Turnover |
1.43 |
Deteriorated |
Industrial Average |
8.23 |
|
Payables Conversion Period |
99.94 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.43 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 219 days at the
end of 2012 to 114 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 1.66 times in year 2012 to 3.21 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.95 times and 0.77
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 Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.