MIRA INFORM REPORT
|
Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
BUSICOM CO., LTD. |
|
|
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Registered Office : |
23 Soi Sukhumvit 62, Yaek 4 [Tadpring], Sukhumvit Road, Bangchak, Prakanong, Bangkok 10260 |
|
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Country : |
Thailand |
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|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
Date of Incorporation : |
29.03.1982 |
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Com. Reg. No.: |
0105525011327 |
|
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Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in importing
and distributing wide
range of pharmaceutical chemicals
especially for pharmaceutical industry |
|
|
|
|
No of Employees : |
29 |
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 |
|
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 & address
BUSICOM CO., LTD.
SUMMARY
BUSINESS ADDRESS : 23
SOI SUKHUMVIT 62, YAEK 4
[TADPRING],
SUKHUMVIT ROAD,
BANGCHAK, PRAKANONG,
BANGKOK 10260,
THAILAND
TELEPHONE
: [66] 2332-8290-6
FAX : [66] 2332-5588
E-MAIL ADDRESS : busicom@busicom.net
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1982
REGISTRATION NO. : 0105525011327 [Former
: 1132/2525]
TAX ID NO. : 3101177725
CAPITAL REGISTERED : BHT.
60,000,000
CAPITAL PAID-UP : BHT.
60,000,000
SHAREHOLDER’S PROPORTION : THAI
:
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. SUDDHINAI
THANESVORAKUL, THAI
PRESIDENT
NO. OF STAFF : 29
LINES OF BUSINESS : PHARMACEUTICAL CHEMICAL
IMPORTER AND
DISTRIBUTOR
|
CORPORATE PROFILE |
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH LOW PERFORMANCE
HISTORY
The subject was
established on March 29,
1982 as a
private limited company
under the name
style BUSICOM CO.,
LTD., by Thai
group, Thanesvorakul family,
in order to
import and distribute
chemicals for pharmaceutical industry.
It currently employs
29 staff.
The subject’s registered
address is 23 Soi Sukhumvit 62, Yaek 4 [Tadpring], Sukhumvit Rd., Bangchak, Prakanong, Bangkok 10260, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Suddhinai Thanesvorakul |
|
Thai |
64 |
|
Mrs. Kanda Thanesvorakul |
|
Thai |
61 |
AUTHORIZED PERSON
One of the
above directors signs
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Suddhinai Thanesvorakul
is the President.
He is Thai nationality with
the age of 64 years
old.
Mrs. Kanda Thanesvorakul
is the Finances
& Accounts Director.
She is Thai
nationality with the
age of 61 years
old.
Mr. Somwang Kittikathakul
is the Sales Manager.
He is Thai nationality.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing wide
range of pharmaceutical chemicals
especially for pharmaceutical industry,
under customer’s order.
Range of product
includes Metformin Hydrochloride, Tramadol
Hydrochloride, Terbutaline
Sulphate, Gliclazide, Ketotifen
Fumarate, Carbidopa, Ketoconazole,
Clarithromycin, Itraconazole pellets 22%,
Selegiline Hydrochloride, Glibenclamide, Ramipril,
Flunarizine Dihydrochloride, Diltlazem
HCL, Glipizide, Sulfamethizole, Omeprazole
Pellets [8.5% w/w], Gemfibrozil,
Hydrochlorothiazide, Hydroxyzine Hydrochloride, Hyoscine-N-Butylbromide, Nabumetone,
Diclofenac Potassium, Chrloromazine
HCL, Carbamazepine, Ofloxacin,
Doxycyclne Hyclate, Mefenamic
acid compacted, Albendazole,
Ambroxol Hydrochloride, Purimox
Compacted grade A,
Fenofibrate, Ketoprofen Micronized,
Meloxicam BP, etc.
PURCHASE
80% of the products is imported
from overseas suppliers in
Singapore, Republic of China, Japan, United Kingdom, Italy,
Denmark, Netherlands, Australia, Germany, Taiwan,
India, Hong Kong, Malaysia,
Spain and France,
the remaining 20%
is purchased from
local suppliers.
SALES [LOCAL]
100% of the
products is sold
by wholesale to
local pharmaceutical manufacturers
[90%] and dealers
[10%].
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.
SUBSIDIARY AND
AFFILIATED COMPANY
Busicom Engineering Co.,
Ltd.
Business Type :
Importer of chemical
products
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
L/C at sight
or T/T.
BUSINESS
TRANSACTION
The products are
sold to customers
mainly by credit, with
maximum credit given
at 30-60 days.
The subject is not found to
have any
problem on its
account receivable.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office :
333 Silom Rd.,
Silom, Bangrak, Bangkok
10500]
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The subject currently
employs 29 staff. [office
and sales staff]
LOCATION DETAILS
The premise is
owned for administrative office
in a 3
storey building at
the heading address.
Premise is located
in commercial/residential area.
COMMENT
Chemicals for pharmaceutical industry were the key element for production processes. Subject
had good business performance
during the past several years. However,
consumption slowdown from
economic uncertainties had
decreased demand of
the products lately.
The subject’s operating performance
in 2013 was
depressive with a
decrease in both
sales revenues and
net profit comparing
to the pervious year.
Moreover, the subject
had obtained net
loss and deficit
retained earning for many
consecutive years, the
credit should be
treated on a
secured basis.
FINANCIAL INFORMATION
The capital was registered at Bht. 4,000,000 divided into
40,000 shares of
Bht. 100 each with
fully paid.
The capital was
increased later as
follows :
Bht. 5
million on March
13, 1991
Bht. 25
million on December
30, 1998
Bht. 50
million on April
9, 2009
Bht. 60
million on November
25, 2013
The latest registered
capital was increased to Bht. 60
million, divided into
600,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS
LIST WERE : [as at
April 28, 2014]
|
NAME |
HOLDING |
% |
|
Mr. Suddhinai Thanesvorakul Nationality: Thai Address : 52
Soi Ramkhamhaeng 12,
Huamark,
Bangkapi, Bangkok |
108,000 |
18.00 |
|
Mrs. Kanda Thanesvorakul Nationality: Thai Address : 916
Ramkhamhaeng Rd., Huamark,
Bangkapi, Bangkok |
108,000 |
18.00 |
|
Mrs. Netrthip Krisadapong Nationality: Thai Address : 50
Soi Ramkhamhaeng 12,
Huamark,
Bangkapi, Bangkok |
96,000 |
16.00 |
|
Ms. Hataithip Thanesvorakul Nationality: Thai Address : 12/14
Soi Chaiyapruk 12,
Sapansung,
Buengkum, Bangkok |
96,000 |
16.00 |
|
Ms. Tarnthip Thanesvorakul Nationality: Thai Address : 48
Soi Ramkhamhaeng 12,
Huamark,
Bangkapi, Bangkok |
96,000 |
16.00 |
|
Mr. Anol Thanesvorakul Nationality: Thai Address : 12/14
Soi Chaiyapruk 12,
Sapansung, Bangkok |
96,000 |
16.00 |
Total Shareholders : 6
Share Structure [as
at April 28,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
600,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
6 |
600,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Suracha Suparatsuebwong No.
4446
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 |
10,879,138.12 |
676,087.20 |
57,631.27 |
|
Trade Accounts & Other Receivable |
72,903,668.74 |
56,688,891.38 |
102,428,792.20 |
|
Short-term Lending |
13,500,000.00 |
30,049,583.50 |
31,499,583.50 |
|
Inventories |
22,606,659.86 |
29,557,367.27 |
31,370,403.74 |
|
Other Current Assets
|
340,477.26 |
181,732.71 |
196,500.03 |
|
|
|
|
|
|
Total Current Assets
|
120,229,943.98 |
117,153,662.06 |
165,552,910.74 |
|
|
|
|
|
|
Fixed Assets |
3,430,911.97 |
7,334,387.47 |
4,975,310.73 |
|
Other Non-current Assets |
38,424,029.40 |
41,877,023.84 |
41,396,816.52 |
|
Total Assets |
162,084,885.35 |
166,365,073.37 |
211,925,037.99 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term
Loans from Financial Institutions |
20,822,747.86 |
11,415,804.70 |
28,314,762.74 |
|
Trade Accounts & Other
Payable |
108,319,133.19 |
85,492,614.81 |
133,431,997.25 |
|
Short-term Loan |
- |
26,250,000.00 |
8,600,000.00 |
|
Other Current Liabilities |
11,021.95 |
114,238.38 |
156,711.88 |
|
|
|
|
|
|
Total Current Liabilities |
129,152,903.00 |
123,272,657.89 |
170,503,471.87 |
|
|
|
|
|
|
Other Non-current Liabilities |
3,575,183.71 |
16,010,673.42 |
12,928,872.76 |
|
Total Liabilities |
132,728,086.71 |
139,283,331.31 |
183,432,344.63 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and fully paid share capital
600,000 shares in 2013; 500,000 shares
in 2012 & 2011 |
60,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
|
|
|
|
|
Capital Paid |
60,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Retained Earning -
Unappropriated [Deficit] |
[30,643,201.36] |
[22,918,257.94] |
[21,507,306.64] |
|
Total Shareholders' Equity |
29,356,798.64 |
27,081,742.06 |
28,492,693.36 |
|
Total Liabilities &
Shareholders' Equity |
162,084,885.35 |
166,365,073.37 |
211,925,037.99 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales |
274,051,728.87 |
288,551,090.42 |
286,690,085.05 |
|
Other Income |
4,934,624.60 |
3,014,755.58 |
40,810.46 |
|
Total Revenues |
278,986,353.47 |
291,565,846.00 |
286,730,895.51 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
251,605,864.35 |
265,269,580.18 |
258,603,098.58 |
|
Selling Expenses |
1,896,614.20 |
2,090,942.82 |
2,338,876.57 |
|
Administrative Expenses |
30,573,833.20 |
21,068,655.57 |
26,515,820.45 |
|
Total Expenses |
284,076,311.75 |
288,429,178.57 |
287,457,795.60 |
|
|
|
|
|
|
Profit / Loss] before Financial Costs |
[5,089,958.28] |
3,136,667.43 |
[726,900.09] |
|
Financial Costs |
[2,634,985.14] |
[4,547,618.73] |
[5,012,291.73] |
|
Net Profit / [Loss] |
[7,724,943.42] |
[1,410,951.30] |
[5,739,191.82] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.93 |
0.95 |
0.97 |
|
QUICK RATIO |
TIMES |
0.75 |
0.71 |
0.79 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
79.88 |
39.34 |
57.62 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.69 |
1.73 |
1.35 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
32.80 |
40.67 |
44.28 |
|
INVENTORY TURNOVER |
TIMES |
11.13 |
8.97 |
8.24 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
97.10 |
71.71 |
130.41 |
|
RECEIVABLES TURNOVER |
TIMES |
3.76 |
5.09 |
2.80 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
157.14 |
117.63 |
188.33 |
|
CASH CONVERSION CYCLE |
DAYS |
(27.24) |
(5.26) |
(13.65) |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.81 |
91.93 |
90.20 |
|
SELLING & ADMINISTRATION |
% |
11.85 |
8.03 |
10.06 |
|
INTEREST |
% |
0.96 |
1.58 |
1.75 |
|
GROSS PROFIT MARGIN |
% |
9.99 |
9.11 |
9.81 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(1.86) |
1.09 |
(0.25) |
|
NET PROFIT MARGIN |
% |
(2.82) |
(0.49) |
(2.00) |
|
RETURN ON EQUITY |
% |
(26.31) |
(5.21) |
(20.14) |
|
RETURN ON ASSET |
% |
(4.77) |
(0.85) |
(2.71) |
|
EARNING PER SHARE |
BAHT |
(12.87) |
(2.82) |
(11.48) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.82 |
0.84 |
0.87 |
|
DEBT TO EQUITY RATIO |
TIMES |
4.52 |
5.14 |
6.44 |
|
TIME INTEREST EARNED |
TIMES |
(1.93) |
0.69 |
(0.15) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(5.02) |
0.65 |
|
|
OPERATING PROFIT |
% |
(262.27) |
(531.51) |
|
|
NET PROFIT |
% |
(447.50) |
75.42 |
|
|
FIXED ASSETS |
% |
(53.22) |
47.42 |
|
|
TOTAL ASSETS |
% |
(2.57) |
(21.50) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -5.02%. Turnover has decreased from THB
288,551,090.42 in 2012 to THB 274,051,728.87 in 2013. While net profit has
decreased from THB -1,410,951.30 in 2012 to THB -7,724,943.42 in 2013. And total
assets has decreased from THB 166,365,073.37 in 2012 to THB 162,084,885.35 in
2013.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
9.99 |
Deteriorated |
Industrial Average |
38.49 |
|
Net Profit Margin |
(2.82) |
Deteriorated |
Industrial Average |
5.20 |
|
Return on Assets |
(4.77) |
Deteriorated |
Industrial Average |
6.21 |
|
Return on Equity |
(26.31) |
Deteriorated |
Industrial Average |
9.96 |
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 9.99%. 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 -2.82%.
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 -4.77%.
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 -26.31%.
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 |
0.93 |
Risky |
Industrial Average |
1.38 |
|
Quick Ratio |
0.75 |
|
|
|
|
Cash Conversion Cycle |
(27.24) |
|
|
|
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 0.93 times in 2013, decrease from 0.95 times, then the company may
have problems meeting its short-term obligations. 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 0.75 times in 2013,
increase from 0.71 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 -28 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.82 |
Acceptable |
Industrial Average |
0.34 |
|
Debt to Equity Ratio |
4.52 |
Risky |
Industrial Average |
0.52 |
|
Times Interest Earned |
(1.93) |
Risky |
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 -1.94 lower than 1, so the company is not generating
enough cash from EBIT to meet its interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.82 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
79.88 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.69 |
Impressive |
Industrial Average |
1.19 |
|
Inventory Conversion Period |
32.80 |
|
|
|
|
Inventory Turnover |
11.13 |
Satisfactory |
Industrial Average |
11.32 |
|
Receivables Conversion Period |
97.10 |
|
|
|
|
Receivables Turnover |
3.76 |
Acceptable |
Industrial Average |
5.46 |
|
Payables Conversion Period |
157.14 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.76 and 5.09 in
2013 and 2012 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 2013
decreased from 2012. 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 41 days at the
end of 2012 to 33 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 8.97 times in year 2012 to 11.13
times in year 2013.
The company's Total Asset Turnover is calculated as 1.69 times and 1.73
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 Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.