MIRA
INFORM REPORT
|
Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
WESTERN DECOR CORPORATION CO., LTD. |
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Registered Office : |
13th Floor, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
26.06.2003 |
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Com. Reg. No.: |
0105546074051 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The subject is
engaged in importing
and sole distributing wide
range of tiles
such as porcelain
tile, ceramic tile,
floor tile, polished
tiles, glazed polished
tiles, fully body
porcelain tiles, ceramic
wall tiles, as
well as glass
blocks and other related
products for building
and decoration purposes. |
|
|
|
|
No. of Employees : |
48 |
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 |
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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 |
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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
WESTERN DECOR CORPORATION CO., LTD.
SUMMARY
BUSINESS ADDRESS : 13th
FLOOR, LUMPINI TOWER,
1168/19 RAMA
IV ROAD, THUNGMAHAMEK,
SATHORN, BANGKOK
10120, THAILAND
TELEPHONE : [66] 2679-8885-7,
2679-8778, 2679-9334-6
FAX : [66] 2679-9339
E-MAIL ADDRESS : ruchaneewan@wdc.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2003
REGISTRATION NO. : 0105546074051
TAX ID NO. : 3030957696
CAPITAL REGISTERED : BHT.
60,000,000
CAPITAL PAID-UP : BHT.
60,000,000
SHAREHOLDER’S PROPORTION : THAI : 91.67%
SINGAPOREAN :
8.33%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SUPAK HIRUNYANITHIWATTANA, THAI
MANAGING DIRECTOR
NO. OF STAFF : 48
LINES OF BUSINESS : TILES
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 June
26, 2003 as a
private limited company
under the name
style WESTERN DECOR CORPORATION
CO., LTD., by Thai and Singaporean groups. Its
business objective is to import
and distribute wide
range of tiles
to domestic market.
Subject currently employs
48 staff.
The subject’s registered
address is 13th Floor,
Lumpini Tower, 1168/19
Rama IV Rd., Thungmahamek, Sathorn, Bangkok 10120, and
this is the subject’s
current operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Supak Hirunyanithiwattana |
|
Thai |
63 |
|
Mrs. Kanyarat
Hirunyanithiwattana |
|
Thai |
67 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Supak
Hirunyanithiwattana is the
Managing Director.
He is Thai
nationality with the
age of 63 years
old.
Mrs. Kanyarat
Hirunyanithiwattana is the
Executive Director.
She is Thai
nationality with the
age of 63 years
old.
Mr. Bandit
Hirunyanithiwattana is the
Deputy Managing Director.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in importing
and sole distributing
wide range of
tiles such as
porcelain tile, ceramic
tile, floor tile,
polished tiles, glazed
polished tiles, fully
body porcelain tiles,
ceramic wall tiles,
as well as
glass blocks and other
related products for
building and decoration
purposes.
MAJOR BRANDS
“NIRO GRANITE”, “BLOOMSBURY”,
“ZIRCONIO”, “ITALIANA”, “TAICERA”,
“MULIA”, “PACIFIC”, “VITALY”,
“YMY”, “KIA”, “THANH
THANH”, “VICERA”,
“HONG HA”, “MIKADO”,
“VITRABLOK”, “DEZHOU” and
etc.
PURCHASE
80% of the products
is imported from Japan, Singapore, Republic of China,
Germany, Denmark, United
Kingdom, Switzerland, Indonesia,
Belgium, Italy, Spain
and Taiwan, the
remaining 20% is
purchased from local
suppliers.
MAJOR SUPPLIER
Niro Granite AB. : Belgium
SALES
100% of the
products is sold
locally to wholesalers,
retailers and end-users
through the subject’s
showroom at “Crystal Design Center” in
Bangkok.
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
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.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject currently
employs 48 staff.
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
Showrooms:
- 205 D Building, Central
Design Center, 1420
Soi Ladprao 87,
Praditmanutham Rd.,
Klongchan, Bangkapi,
Bangkok 10240. Tel. : [66] 2102-2057-8, Fax. : [66] 2102-2059
- 108/105-106 Moo 5,
Chalermphrakiat Rama 9 Rd.,
T. Rasada, A. Muang, Phuket
83000.
Tel.: [66] 76
304-450, Fax. : [66] 76
304-451.
Warehouse:
- 88 Moo 21, Nimitmai Rd.,
Lamlukka, Pathumthani 12150.
Premises is
on 48,000 square
meters of land.
COMMENT
The subject supplies
not only high-end
tiles but also
middle-end tiles to
all projects, retailers
and wholesalers all
over Thailand. The
subject’s operating performance
in 2013 was satisfactory
with an increase
in sales revenue
compared to the
previous year. This
is mainly due
to an improvement
and expansion of
property and real
estate business in the
year 2013. However,
slow consumption in
domestic market has
seen since the beginning
of 2014. It
is estimated a
slow business this
year.
FINANCIAL INFORMATION
The capital was
registered at Bht. 10,000,000 divided
into 10,000 shares of
Bht. 1,000 each
with fully paid.
The capital was
increased later as
follows:
Bht. 20,000,000
on December 26,
2006
Bht. 40,000,000
on January 28,
2011
Bht. 60,000,000
on December 26,
2013
The latest registered
capital was increased
to Bht. 60,000,000 divided
into 60,000 shares
of Bht. 1,000 each
with fully paid.
THE SHAREHOLDERS LISTED WERE
[as at April
30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Kanyarat Hirunyanithiwattana Nationality: Thai Address : 58/35
Chuaploeng Rd., Nonsi,
Yannawa, Bangkok |
19,500 |
32.50 |
|
Mr. Supak Hirunyanithiwattana Nationality: Thai Address : 58/35
Chuaploeng Rd., Nonsi,
Yannawa, Bangkok |
17,000 |
28.33 |
|
Mr. Bandit Hirunyanithiwattana Nationality: Thai Address : 58/35
Chuaploeng Rd., Nonsi,
Yannawa, Bangkok |
8,000 |
13.33 |
|
Ms. Pornying
Hirunyanithiwattana Nationality: Thai Address : 58/35
Chuaploeng Rd., Nonsi,
Yannawa, Bangkok |
7,000 |
11.67 |
|
Mr. Chandra Negara Exman Nationality: Singaporean Address : Indonesia |
5,000 |
8.33 |
|
Mr. Chanchai Fuengfoo Nationality: Thai Address : 91/46
Soi Sukhumvit 53,
Klongtonnua,
Wattana, Bangkok |
1,900 |
3.17 |
|
Mrs. Hansa Hiranyanithiwattana Nationality: Thai Address : 58/35
Chuaploeng Rd., Nonsi,
Yannawa, Bangkok |
1,600 |
2.67 |
Total Shareholders : 7
Share Structure
[as at April
30, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
55,000 |
91.67 |
|
Foreign - Singaporean |
1 |
5,000 |
8.33 |
|
Total |
7 |
60,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Sumeth Kongmai No.
5480
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
10,037,336.52 |
4,912,184.24 |
5,824,704.99 |
|
Trade Accounts &
Other Receivable |
121,851,272.58 |
118,854,565.06 |
108,129,012.48 |
|
Inventories |
165,318,335.99 |
132,967,292.66 |
95,158,549.60 |
|
Other Current Assets
|
2,025,644.12 |
2,142,534.30 |
1,270,095.04 |
|
|
|
|
|
|
Total Current Assets
|
299,232,589.21 |
258,876,576.26 |
210,382,362.11 |
|
|
|
|
|
|
Fixed Assets |
71,488,151.59 |
46,624,297.40 |
35,049,721.77 |
|
Intangible Assets |
108,820.32 |
149,980.30 |
191,140.28 |
|
Leasehold |
5,511,268.25 |
6,016,117.25 |
6,520,966.25 |
|
Cash at Bank pledged as a Collateral |
24,000,000.00 |
24,000,000.00 |
24,000,000.00 |
|
Other Non - current Assets |
397,026.00 |
1,094,526.00 |
842,092.00 |
|
Total Assets |
400,737,855.37 |
336,761,497.21 |
276,986,282.41 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
154,707,152.41 |
103,122,465.18 |
62,311,881.38 |
|
Trade Accounts & Other
Payable |
41,278,340.63 |
41,751,383.68 |
39,297,171.51 |
|
Current Portion of
Long-term Liabilities Financial Lease
Contract Liabilities |
3,071,110.99 |
3,069,152.13 |
1,717,565.52 |
|
Long-term Loans |
780,000.00 |
780,000.00 |
2,774,000.00 |
|
Short-term Loan from Related
Person |
25,100,000.00 |
42,100,000.00 |
26,100,000.00 |
|
Short-term Loan from Related
Company |
23,000,000.00 |
23,000,000.00 |
32,000,000.00 |
|
Accrued Income Tax |
1,305,794.54 |
1,765,516.94 |
4,106,650.19 |
|
Other Current Liabilities |
917,377.37 |
358,751.26 |
1,480,462.05 |
|
|
|
|
|
|
Total Current Liabilities |
250,159,775.94 |
215,947,269.19 |
169,787,730.65 |
|
Financial Lease Contract Liabilities |
3,487,025.42 |
4,587,855.75 |
2,039,351.08 |
|
Long-term Loan |
3,880,000.00 |
4,660,000.00 |
5,440,000.00 |
|
Total Liabilities |
257,526,801.36 |
225,195,124.94 |
177,267,081.73 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share capital
60,000 shares in 2013; 40,000 shares
in 2012 & 2011 |
60,000,000.00 |
40,000,000.00 |
40,000,000.00 |
|
|
|
|
|
|
Capital Paid |
60,000,000.00 |
40,000,000.00 |
40,000,000.00 |
|
Retained Earning Unappropriated |
83,211,054.01 |
71,566,372.27 |
59,719,200.68 |
|
Total Shareholders' Equity |
143,211,054.01 |
111,566,372.27 |
99,719,200.68 |
|
Total Liabilities & Shareholders' Equity |
400,737,855.37 |
336,761,497.21 |
276,986,282.41 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
594,016,740.42 |
572,477,171.11 |
463,166,435.41 |
|
Other Income |
1,335,046.81 |
1,096,963.72 |
3,303,415.05 |
|
Total Revenues |
595,351,787.23 |
573,574,134.83 |
466,469,850.46 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
479,134,963.12 |
480,727,088.65 |
369,722,811.60 |
|
Selling Expenses |
40,981,738.02 |
29,598,602.06 |
31,225,620.56 |
|
Administrative Expenses |
54,365,578.89 |
40,721,316.19 |
40,033,087.75 |
|
Total Expenses |
574,482,280.03 |
551,047,006.90 |
440,981,519.91 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
20,869,507.20 |
22,527,127.93 |
25,488,330.55 |
|
Financial Costs |
[6,004,876.19] |
[6,831,310.90] |
[4,300,374.34] |
|
Profit / [Loss] before Income
Tax |
14,864,631.01 |
15,695,817.03 |
21,187,956.21 |
|
Income Tax |
[3,219,949.27] |
[3,848,645.44] |
[6,038,196.91] |
|
|
|
|
|
|
Net Profit / [Loss] |
11,644,681.74 |
11,847,171.59 |
15,149,759.30 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.20 |
1.20 |
1.24 |
|
QUICK RATIO |
TIMES |
0.53 |
0.57 |
0.67 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
8.31 |
12.28 |
13.21 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.48 |
1.70 |
1.67 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
125.94 |
100.96 |
93.94 |
|
INVENTORY TURNOVER |
TIMES |
2.90 |
3.62 |
3.89 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
74.87 |
75.78 |
85.21 |
|
RECEIVABLES TURNOVER |
TIMES |
4.87 |
4.82 |
4.28 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
31.45 |
31.70 |
38.80 |
|
CASH CONVERSION CYCLE |
DAYS |
169.37 |
145.04 |
140.36 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
80.66 |
83.97 |
79.83 |
|
SELLING & ADMINISTRATION |
% |
16.05 |
12.28 |
15.39 |
|
INTEREST |
% |
1.01 |
1.19 |
0.93 |
|
GROSS PROFIT MARGIN |
% |
19.56 |
16.22 |
20.89 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.51 |
3.94 |
5.50 |
|
NET PROFIT MARGIN |
% |
1.96 |
2.07 |
3.27 |
|
RETURN ON EQUITY |
% |
8.13 |
10.62 |
15.19 |
|
RETURN ON ASSET |
% |
2.91 |
3.52 |
5.47 |
|
EARNING PER SHARE |
BAHT |
194.08 |
296.18 |
378.74 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.64 |
0.67 |
0.64 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.80 |
2.02 |
1.78 |
|
TIME INTEREST EARNED |
TIMES |
3.48 |
3.30 |
5.93 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
3.76 |
23.60 |
|
|
OPERATING PROFIT |
% |
(7.36) |
(11.62) |
|
|
NET PROFIT |
% |
(1.71) |
(21.80) |
|
|
FIXED ASSETS |
% |
53.33 |
33.02 |
|
|
TOTAL ASSETS |
% |
19.00 |
21.58 |
|
ANNUAL GROWTH : SATISFACTORY
An annual sales growth is 3.76%. Turnover has increased from THB
PROFITABILITY : IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
19.56 |
Impressive |
Industrial Average |
17.01 |
|
Net Profit Margin |
1.96 |
Impressive |
Industrial Average |
1.83 |
|
Return on Assets |
2.91 |
Satisfactory |
Industrial Average |
3.60 |
|
Return on Equity |
8.13 |
Satisfactory |
Industrial Average |
10.80 |
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 19.56%. 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 1.96%, 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 2.91%.
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 8.13%.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.20 |
Acceptable |
Industrial Average |
1.68 |
|
Quick Ratio |
0.53 |
|
|
|
|
Cash Conversion Cycle |
169.37 |
|
|
|
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 1.2 times in 2013, same figure
is 1.2 times in 2012, then it is generally considered to have
good short-term financial strength. 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 0.53 times in 2013,
decreased from 0.57 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 170 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.64 |
Impressive |
Industrial Average |
0.87 |
|
Debt to Equity Ratio |
1.80 |
Satisfactory |
Industrial Average |
2.65 |
|
Times Interest Earned |
3.48 |
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 3.48 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 0.64 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 : SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
8.31 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.48 |
Acceptable |
Industrial Average |
2.57 |
|
Inventory Conversion Period |
125.94 |
|
|
|
|
Inventory Turnover |
2.90 |
Acceptable |
Industrial Average |
5.30 |
|
Receivables Conversion Period |
74.87 |
|
|
|
|
Receivables Turnover |
4.87 |
Satisfactory |
Industrial Average |
5.98 |
|
Payables Conversion Period |
31.45 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.87 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 101 days at the
end of 2012 to 126 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 3.62 times in year 2012 to 2.9 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.48 times and 1.7
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.60.79 |
|
|
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.78.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SDA |
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.