MIRA INFORM REPORT
|
Report No. : |
314708 |
|
Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
GUARDIAN INDUSTRIES CORP LTD. |
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Registered Office : |
42 Moo 7, T. Nongplamoh, A. Nongkhae, Saraburi 18140 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
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|
|
Date of Incorporation : |
01.05.2003 |
|
|
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Com. Reg. No.: |
0195546000332 |
|
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in manufacturing, distributing and exporting wide range of glass and mirror, including flat glass, float glass, heavy float glass, thin glass, automotive glass, ultra clear glass, light green glass, solar management glass, architectural coated glass, interior glass, technical glass, solar energy glass, and tinted privacy glass, with the promotional privileges granted by the Board of Investment [BOI], used in automobiles, residential, commercial and construction industries. |
|
|
|
|
No of Employees : |
450 |
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 : |
Good |
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|
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Payment Behaviour : |
Regular |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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
GUARDIAN
INDUSTRIES CORP LTD.
SUMMARY
BUSINESS
ADDRESS : 42
MOO 7, T.
NONGPLAMOH, A. NONGKHAE,
SARABURI 18140,
THAILAND
TELEPHONE : [66] 36
373-373
FAX :
[66] 36
373-345, 36 373-346,
36 373-338,
E-MAIL
ADDRESS : infoasiapacific@guardian.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2003
REGISTRATION
NO. : 0195546000332
TAX
ID NO. : 3030888105
CAPITAL REGISTERED : BHT. 750,000,000
CAPITAL PAID-UP : BHT.
750,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
WILLIAM JEFFREY PETEK,
AMERICAN
VICE PRESIDENT
ASIA PACIFIC
NO.
OF STAFF : 450
LINES
OF BUSINESS : CLEAR
FLOAT GLASS AND
MIRROR
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 May 1,
2003 as a
private limited company
under the registered
name GUARDIAN INDUSTRIES
CORP LTD. by
American groups, in
order to produce
and distribute clear float glass
and mirror for both
domestic and international
markets.
Awards:
Products Manufacturing
BSI
- Certificate Number: FM: 32648
ISO 9002 – The manufacture
and supply of
Clear Float Glass
in thickness ranging
from 2 mm to 12 mm (October 1995)
ISO 9002 - The manufacture and supply
of Mirror (Silvered)
Glass in thickness ranging from 2 mm to 6 mm (April
1996)
TIS
- Certificate Number: (2) T 525-10/880
TIS 880 - 2532 for Clear
Float Glass (January 1998)
TIS 880 - 2532 for Frosted
Float Glass (May 1998)
At
present, subject is
a wholly owned subsidiary of Guardian
Industries [Nongkhae] Ltd.,
which is a
member of Guardian
Industries Corporation in
U.S.A., a leading
worldwide manufacturer of
float glass and
fabricated glass products
for commercial and residential
construction industries and
for automotive industry.
It currently employs
approximately 450 staff.
The
subject’s registered address
is 42 Moo 7,
T. Nongplamoh, A. Nongkhae,
Saraburi 18140, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. William Jeffrey
Petek |
|
American |
47 |
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. William Jeffrey
Petek is the
Vice President Asia
Pacific.
He is American
nationality with the
age of 47
years old.
Mr. Vitit Tangtulanont is the
Sales & Marketing Manager.
He is Thai
nationality.
Mr. Crown Benden is the
Factory Manager.
He is American
nationality.
BUSINESS OPERATIONS
The subject is engaged
in manufacturing, distributing
and exporting wide
range of glass
and mirror, including
flat glass, float
glass, heavy float glass,
thin glass, automotive
glass, ultra clear
glass, light green
glass, solar management
glass, architectural coated
glass, interior glass,
technical glass, solar
energy glass, and
tinted privacy glass,
with the promotional privileges
granted by the
Board of Investment [BOI], used in automobiles, residential, commercial and construction
industries.
PRODUCTION CAPACITY
390,000 tons per
annum
MAJOR BRAND
“GUARDIAN”
PURCHASE
Raw
materials are purchased
from suppliers both
local and overseas
in Japan, Taiwan,
Singapore, Republic of
China, India, United
States of America,
Germany and France.
MAJOR SUPPLIER
Guardian
Industries Corp. :
U.S.A.
SALES [LOCAL]
60%
of its products
is sold locally
by wholesale to
dealers and end-users
nationwide.
EXPORT
40% of its
products is exported
to United States
of America, Germany,
Italy, Sweden, United Kingdom, Taiwan, Japan,
Singapore, Malaysia, Korea,
India, Hong Kong, Indonesia,
Canada, United Arab Emirates, South
Africa, and others
Middle East countries.
PARENT COMPANY
Guardian Industries [Nongkhae]
Ltd.
Address : 42 Moo 7,
T. Nongplamoh, A.
Nongkhae, Saraburi 18140.
RELATED COMPANY
Guardian Industries Rayong
Co., Ltd.
Business Type : Manufacturer of
color tinted float
glass
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.
Exports
are against L/C
at sight or
T/T.
BANKING
Standard
Chartered Bank [Thai]
Public Co., Ltd.
[Bangkok Branch : 990
Rama 4 Rd., Bangrak,
Bangkok 10500]
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
450 staff [office
staff and factory
workers].
LOCATION DETAILS
The
premise is rented
for administrative office,
factory and warehouse
at the heading
address. Premise is
located in provincial.
COMMENT
The subject is
Thailand’s leading producer of flat glass using the Float Process, which
incorporates the most advanced glass manufacturing technology available. This technique permits the
production of glass that is extremely even in thickness,
high in quality which is used in a wide variety of applications.
Subject
reported an increasing sales
in the year
2013. Generally, the
subject’s business is
still promising in
line with the
demand of the
products from related
industries.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 750,000,000 divided into 7,500,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE : [as at
April 30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Guardian Industries [Nongkhae]
Ltd. Nationality: Thai Address : 42
Moo 7, T. Nongplamoh,
A. Nongkhae,
Saraburi 18140 |
7,499,998 |
100.00 |
|
Guardian Industries Distribution Center,
Inc. Nationality: American Address : 2300
Harmon Road, Auburn
Hills, MI 48326,
U.S.A. |
1 |
- |
|
H M F Inc. Nationality: American Address : 2300
Harmon Road, Auburn
Hills, MI 48326,
U.S.A. |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
7,499,998 |
100.00 |
|
Foreign - American |
2 |
2 |
- |
|
Total |
3 |
7,500,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Vichien Kingmontri No.
3977
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 |
16,690,447 |
12,231,742 |
436,089 |
|
Trade Accounts &
Other Receivable |
214,436,043 |
177,843,429 |
203,408,176 |
|
Inventories |
374,990,951 |
394,745,749 |
309,740,639 |
|
Refundable Value Added Tax |
3,610,785 |
8,263,153 |
13,514,014 |
|
Refundable Income Tax |
13,433,294 |
13,433,294 |
- |
|
Receivable in Foreign Exchange Contracts |
1,946,072 |
3,306,482 |
- |
|
Other Current Assets
|
3,122,080 |
3,368,484 |
2,257,273 |
|
Total Current Assets
|
628,229,672 |
613,192,333 |
529,356,191 |
|
|
|
|
|
|
Fixed Assets |
1,785,599,232 |
1,787,715,767 |
1,173,723,936 |
|
Intangible Assets |
542,849 |
565,441 |
804,290 |
|
Deferred Income Tax |
4,034,508 |
3,934,557 |
4,430,131 |
|
Other Assets |
1,562,789 |
1,555,179 |
2,876,759 |
|
Total Assets |
2,419,969,050 |
2,406,963,277 |
1,711,191,307 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Accounts & Other
Payable |
371,928,093 |
313,526,966 |
249,929,919 |
|
Loan from Related
Company |
802,435,487 |
1,218,491,762 |
509,909,163 |
|
Accrued Income Tax |
17,158,322 |
- |
80,015,116 |
|
Current Portion of
Forward Contract Payable |
156,882 |
- |
18,885,607 |
|
Other Current Liabilities |
3,474,309 |
3,232,968 |
4,650,219 |
|
Total Current Liabilities |
1,195,153,093 |
1,535,251,696 |
863,390,024 |
|
Financial Lease Contract
Liabilities |
462,023 |
- |
- |
|
Estimated Liabilities from Employee Benefits |
13,050,540 |
9,777,750 |
7,050,240 |
|
Total Liabilities |
1,208,665,656 |
1,545,029,446 |
870,440,264 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 7,500,000 shares |
750,000,000 |
750,000,000 |
750,000,000 |
|
Capital Paid |
750,000,000 |
750,000,000 |
750,000,000 |
|
Retained Earning Appropriated for
Statutory Reserve |
75,000,000 |
75,000,000 |
75,000,000 |
|
Unappropriated |
386,303,394 |
36,933,831 |
15,751,043 |
|
Total Shareholders' Equity |
1,211,303,394 |
861,933,831 |
840,751,043 |
|
Total Liabilities &
Shareholders' Equity |
2,419,969,050 |
2,406,963,277 |
1,711,191,307 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
2,721,177,406 |
2,344,278,057 |
2,810,198,311 |
|
Gain on Exchange Rate |
10,421,851 |
- |
- |
|
Other Income |
4,299,146 |
24,860,688 |
11,247,230 |
|
Total Revenues |
2,735,898,403 |
2,369,138,745 |
2,821,445,541 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
2,012,129,457 |
2,004,665,843 |
1,930,863,611 |
|
Selling Expenses |
178,403,175 |
148,483,509 |
225,500,627 |
|
Administrative Expenses |
143,379,470 |
127,633,418 |
97,075,899 |
|
Other Expenses |
860,118 |
34,341,424 |
- |
|
Loss on Exchange Rate |
- |
4,749,327 |
12,971,197 |
|
Total Expenses |
2,334,772,220 |
2,319,873,521 |
2,266,411,334 |
|
Profit before Financial
Cost & Income Tax |
401,126,183 |
49,265,224 |
555,034,207 |
|
Financial Cost - Interest
Paid |
[27,073,918] |
[19,446,049] |
[3,840,508] |
|
Profit before Income Tax |
374,052,265 |
29,819,175 |
551,193,699 |
|
Income Tax |
[24,682,702] |
[8,636,387] |
[167,412,517] |
|
Net Profit / [Loss] |
349,369,563 |
21,182,788 |
383,781,182 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.53 |
0.40 |
0.61 |
|
QUICK RATIO |
TIMES |
0.19 |
0.12 |
0.24 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.52 |
1.31 |
2.39 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.12 |
0.97 |
1.64 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
68.02 |
71.87 |
58.55 |
|
INVENTORY TURNOVER |
TIMES |
5.37 |
5.08 |
6.23 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
28.76 |
27.69 |
26.42 |
|
RECEIVABLES TURNOVER |
TIMES |
12.69 |
13.18 |
13.82 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
67.47 |
57.09 |
47.25 |
|
CASH CONVERSION CYCLE |
DAYS |
29.32 |
42.48 |
37.73 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
73.94 |
85.51 |
68.71 |
|
SELLING & ADMINISTRATION |
% |
11.83 |
11.78 |
11.48 |
|
INTEREST |
% |
0.99 |
0.83 |
0.14 |
|
GROSS PROFIT MARGIN |
% |
26.60 |
15.55 |
31.69 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
14.74 |
2.10 |
19.75 |
|
NET PROFIT MARGIN |
% |
12.84 |
0.90 |
13.66 |
|
RETURN ON EQUITY |
% |
28.84 |
2.46 |
45.65 |
|
RETURN ON ASSET |
% |
14.44 |
0.88 |
22.43 |
|
EARNING PER SHARE |
BAHT |
46.58 |
2.82 |
51.17 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.50 |
0.64 |
0.51 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.00 |
1.79 |
1.04 |
|
TIME INTEREST EARNED |
TIMES |
14.82 |
2.53 |
144.52 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
16.08 |
(16.58) |
|
|
OPERATING PROFIT |
% |
714.22 |
(91.12) |
|
|
NET PROFIT |
% |
1,549.31 |
(94.48) |
|
|
FIXED ASSETS |
% |
(0.12) |
52.31 |
|
|
TOTAL ASSETS |
% |
0.54 |
40.66 |
|
ANNUAL
GROWTH : IMPRESSIVE
An annual sales growth is 16.08%. Turnover has increased from THB
2,344,278,057.00 in 2012 to THB 2,721,177,406.00 in 2013. While net profit has increased
from THB 21,182,788.00 in 2012 to THB 349,369,563.00 in 2013. And total assets
has increased from THB 2,406,963,277.00 in 2012 to THB 2,419,969,050.00 in
2013.
PROFITABILITY
: IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
26.60 |
Deteriorated |
Industrial Average |
83.17 |
|
Net Profit Margin |
12.84 |
Impressive |
Industrial Average |
6.38 |
|
Return on Assets |
14.44 |
Impressive |
Industrial Average |
5.82 |
|
Return on Equity |
28.84 |
Impressive |
Industrial Average |
10.33 |
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 26.6%. 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 12.84%, 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
14.44%, 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 28.84%, 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
: ACCEPTABLE
LIQUIDITY
RATIO
|
Current Ratio |
0.53 |
Risky |
Industrial Average |
1.74 |
|
Quick Ratio |
0.19 |
|
|
|
|
Cash Conversion Cycle |
29.32 |
|
|
|
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 0.53 times in 2013, increased from 0.4 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 0.19 times in 2013,
increased from 0.12 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 30 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE
: IMPRESSIVE
LEVERAGE
RATIO
|
Debt Ratio |
0.50 |
Acceptable |
Industrial Average |
0.41 |
|
Debt to Equity Ratio |
1.00 |
Impressive |
Industrial Average |
0.68 |
|
Times Interest Earned |
14.82 |
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 14.82 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 0.5,
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
: EXCELLENT
ACTIVITY
RATIO
|
Fixed Assets Turnover |
1.52 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.12 |
Impressive |
Industrial Average |
0.91 |
|
Inventory Conversion Period |
68.02 |
|
|
|
|
Inventory Turnover |
5.37 |
Impressive |
Industrial Average |
3.73 |
|
Receivables Conversion Period |
28.76 |
|
|
|
|
Receivables Turnover |
12.69 |
Impressive |
Industrial Average |
4.00 |
|
Payables Conversion Period |
67.47 |
|
|
|
The company's Account Receivable Ratio is calculated as 12.69 and 13.18
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 72 days at the
end of 2012 to 68 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 5.08 times in year 2012 to 5.37 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.12 times and 0.97
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 Downtrend
|
Key Areas |
Score |
Weight |
Weighted
Score |
|
LIQUIDITY RATIO |
1.33 |
25.00 |
33.25 |
|
ACTIVITY RATIO |
4.00 |
20.00 |
80.00 |
|
PROFITABILITY
RATIO |
3.00 |
25.00 |
75.00 |
|
LEVERAGE RATIO |
3.11 |
10.00 |
31.10 |
|
ANNUAL GROWTH |
3.20 |
20.00 |
64.00 |
|
Total Weight
(excluding - - Score) |
|
100.00 |
|
|
|
|
|
283.35 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.59 |
|
|
1 |
Rs. 92.45 |
|
Euro |
1 |
Rs. 67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.