MIRA INFORM REPORT
|
Report No. : |
314858 |
|
Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIRICHOKE IMPORT-EXPORT COMPANY LIMITED |
|
|
|
|
Registered Office : |
217 Soi Pridi Banomyong 9, Sukhumvit 71 Road, Phrakanongnuar, Wattana, Bangkok 10110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
08.03.2000 |
|
|
|
|
Com. Reg. No.: |
0105543024036 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
subject
is engaged in
distributing and exporting
various kinds of
home electric appliances.
Its products and
brands are as
follows: ·
Electric Fan Brands : VICTOR, SONY,
PANASONIC, TOSHIBA, SANYO,
HITACHI, MITSUBISHI ·
Radio and
Television Brands :
SONY, PANASONIC, TOSHIBA,
SANYO, HITACHI, MITSUBISHI ·
Electric Rice
Cooker Brands :
VICTOR, SONY, PANASONIC,
TOSHIBA, SANYO, HITACHI, MITSUBISHI ·
Electric Ironing Brands :
SONY, VICTOR, PANASONIC,
TOSHIBA, SANYO, HITACHI, MITSUBISHI ·
Refrigerator Brands : VICTOR, SONY,
PANASONIC, TOSHIBA, SANYO,
HITACHI, MITSUBISHI ·
Microwave Oven Brands : SONY,
PANASONIC, TOSHIBA, SANYO,
HITACHI, MITSUBISHI ·
Washing Machine Brands : SONY,
PANASONIC, TOSHIBA, SANYO,
HITACHI, MITSUBISHI |
|
|
|
|
No. of Employees : |
50 |
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 – 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 |
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
SIRICHOKE
IMPORT-EXPORT COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 217
SOI PRIDI BANOMYONG
9,
SUKHUMVIT 71
ROAD, PHRAKANONGNUAR,
WATTANA, BANGKOK
10110, THAILAND
TELEPHONE : [66] 2711-1204-7
FAX :
[66] 2711-1208
E-MAIL
ADDRESS : sinsomboon1@hotmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2000
REGISTRATION
NO. : 0105543024036
TAX
ID NO. : 3030056146
CAPITAL REGISTERED : BHT. 5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
SHAREHOLDER’S PROPORTION : THAI
:
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SUTIN VONGSURBCHART, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 50
LINES
OF BUSINESS : HOME
ELECTRIC APPLIANCES
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 March 8, 2000 as
a private limited
company under the
registered name SIRICHOKE
IMPORT-EXPORT COMPANY LIMITED, by
Thai group, with the business
objective to distribute
various kinds of
home electric appliances
to both domestic
and international markets.
It currently employs
approximately 50 staff.
The
subject’s registered address
is 217 Soi
Pridi Banomyong 9,
Sukhumvit 71 Road,
Phrakanongnuar, Wattana, Bangkok
10110, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sutin Vongsurbchart |
|
Thai |
62 |
|
Mrs. Suree Vongsurbchart |
|
Thai |
54 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Sutin Vongsurbchart is
the Managing Director.
He is Thai
nationality with the
age of 62
years old.
Mrs. Suree Vongsurbchart is
the Deputy Managing
Director.
She is Thai
nationality with the
age of 54 years
old.
Ms. Siriporn Vongsurbchart is
the Sales & Marketing Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
distributing and exporting
various kinds of
home electric appliances.
Its products and
brands are as
follows:
·
Electric Fan
Brands : VICTOR, SONY,
PANASONIC, TOSHIBA, SANYO,
HITACHI,
MITSUBISHI
·
Radio and
Television
Brands :
SONY, PANASONIC, TOSHIBA,
SANYO, HITACHI, MITSUBISHI
·
Electric Rice
Cooker
Brands :
VICTOR, SONY, PANASONIC,
TOSHIBA, SANYO, HITACHI,
MITSUBISHI
·
Electric Ironing
Brands :
SONY, VICTOR, PANASONIC,
TOSHIBA, SANYO, HITACHI,
MITSUBISHI
·
Refrigerator
Brands : VICTOR, SONY,
PANASONIC, TOSHIBA, SANYO,
HITACHI,
MITSUBISHI
·
Microwave Oven
Brands : SONY,
PANASONIC, TOSHIBA, SANYO,
HITACHI, MITSUBISHI
·
Washing Machine
Brands : SONY,
PANASONIC, TOSHIBA, SANYO,
HITACHI, MITSUBISHI
PURCHASE
100% of the
products is purchased
from local suppliers.
MAJOR
SUPPLIER
Siritana
Cooler Ltd. : Thailand
SALES
80% of the
products is exported
to Laos, Cambodia,
Myanmar, Vietnam, Nepal,
Sri Lanka, India and
Republic of China,
the remaining 20% is sold
locally.
RELATED AND AFFILIATED
COMPANY
Sinsomboon Trading Co.,
Ltd.
Business Type :
Distributor of electric
appliances
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.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
50 staff.
LOCATION
DETAILS
The
premise is owned for
administrative office at
the heading address.
Premise is located
in commercial/residential area
Branch
office is located
at 23 Moo
3, T. Buengkan, A. Muang,
Buengkan 38000.
COMMENT
The
current economic environment,
consumers will be cautious
on their spending.
Slowdown of the country’s
economy occurred gradually in
the past two years has
slowed down consumer spending.
This had affected
company’s growth with a
decrease in sales
revenue.
FINANCIAL
INFORMATION
The
capital was registered at Bht. 2,000,000 divided into 20,000
shares of Bht. 100 each
with fully paid.
On
April 3, 2002,
the registered capital
was increased to Bht.
5,000,000 divided into
50,000 shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Sutin Vongsurbchart Nationality: Thai Address : 219
Sukhumvit 71 Road,
Phrakanongnuar,
Wattana, Bangkok |
20,000 |
40.00 |
|
Mrs. Suree Vongsurbchart Nationality: Thai Address : 217
Sukhumvit 71 Road,
Phrakanongnuar,
Wattana, Bangkok |
17,000 |
34.00 |
|
Mr. Tanachote Vongsurbchart Nationality: Thai Address : 928/14-15
Soi Saengthip, Phrakanongnuar,
Wattana, Bangkok |
5,000 |
10.00 |
|
Ms. Siriluck Vongsurbchart Nationality: Thai Address : 219 Sukhumvit 71
Road, Phrakanongnuar,
Wattana, Bangkok |
2,000 |
4.00 |
|
Ms. Sirinut Vongsurbchart Nationality: Thai Address : 219
Sukhumvit 71 Road,
Phrakanongnuar,
Wattana, Bangkok |
2,000 |
4.00 |
|
Ms. Siriporn Vongsurbchart Nationality: Thai Address : 219
Sukhumvit 71 Road,
Phrakanongnuar,
Wattana, Bangkok |
2,000 |
4.00 |
|
Mr. Tanawat Vongsurbchart Nationality: Thai Address : 928/14-15
Soi Saengthip, Phrakanongnuar,
Wattana, Bangkok |
2,000 |
4.00 |
Total Shareholders : 7
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
50,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
50,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Pol. Maj. Chaowalit Singcharoen
No. 0118
SIRICHOKE IMPORT-EXPORT
COMPANY LIMITED
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
|
1,175,826.30 |
4,100,585.28 |
815,649.79 |
|
Short-term Investment |
- |
69,717.68 |
54,677.78 |
|
Trade Accounts &
Other Receivable |
12,003,719.18 |
23,899,335.24 |
31,229,470.34 |
|
Short-term Loan to
Person or Related Company |
250,000.00 |
800,000.00 |
8,307,000.00 |
|
Inventories |
1,358,510.73 |
2,550,182.49 |
2,953,001.41 |
|
|
|
|
|
|
Total Current Assets
|
14,788,056.21 |
31,419,820.69 |
43,359,799.32 |
|
Fixed Assets |
10,866,605.99 |
12,343,916.44 |
13,801,542.72 |
|
Intangible Assets |
7,472.78 |
8,335.18 |
- |
|
Other Non-current Assets |
48,000.00 |
48,000.00 |
50,710.27 |
|
Total Assets |
25,710,134.98 |
43,820,072.31 |
57,212,052.31 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft
& Short-term Loan from
Financial
Institution |
- |
- |
5,000,000.00 |
|
Trade Accounts
& Other Receivable |
2,267,451.24 |
19,087,197.81 |
22,996,817.85 |
|
Accrued Income
Tax |
622,499.62 |
140,914.12 |
3,132,471.65 |
|
|
|
|
|
|
Total Current
Liabilities |
2,889,950.86 |
19,228,111.93 |
31,129,289.50 |
|
Other Non-current
Liabilities |
8,400.00 |
12,400.00 |
9,800.00 |
|
Total Liabilities |
2,898,350.86 |
19,240,511.93 |
31,139,089.50 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value Authorized &
issued share capital
50,000 shares
|
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
|
|
|
|
|
Capital Paid |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earning Appropriated for
Statutory Reserve |
500,000.00 |
500,000.00 |
250,000.00 |
|
Unappropriated [Deficit] |
17,311,784.12 |
19,079,560.38 |
20,822,962.81 |
|
|
|
|
|
|
Total Shareholders' Equity |
22,811,784.12 |
24,579,560.38 |
26,072,962.81 |
|
Total Liabilities &
Shareholders' Equity |
25,710,134.98 |
43,820,072.31 |
57,212,052.31 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales |
252,888,196.41 |
314,314,306.15 |
394,777,619.23 |
|
Other Income |
1,982,674.93 |
4,003,531.34 |
3,018,624.77 |
|
Total Revenues |
254,870,871.34 |
318,317,837.49 |
397,796,224.00 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
233,656,290.84 |
296,190,951.50 |
363,521,834.17 |
|
Selling Expenses |
3,246,009.79 |
5,305,080.38 |
8,378,680.19 |
|
Administrative Expenses |
13,470,776.22 |
12,058,990.44 |
13,267,671.23 |
|
Total Expenses |
250,373,076.85 |
313,555,022.32 |
385,168,185.59 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost & Income Tax |
4,497,794.49 |
4,762,815.17 |
12,628,058.41 |
|
Financial Cost |
[173,162.07] |
[216,142.30] |
[552,360.63] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax
|
4,324,632.42 |
4,546,672.87 |
12,075,697.78 |
|
Income Tax |
[1,092,408.68] |
[1,040,075.30] |
[3,807,503.78] |
|
Net Profit / [Loss] |
3,232,223.74 |
3,506,597.57 |
8,268,194.00 |
SIRICHOKE IMPORT-EXPORT
COMPANY LIMITED
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
5.12 |
1.63 |
1.39 |
|
QUICK RATIO |
TIMES |
4.65 |
1.50 |
1.30 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
23.27 |
25.46 |
28.60 |
|
TOTAL ASSETS TURNOVER |
TIMES |
9.84 |
7.17 |
6.90 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
2.12 |
3.14 |
2.97 |
|
INVENTORY TURNOVER |
TIMES |
171.99 |
116.15 |
123.10 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
17.33 |
27.75 |
28.87 |
|
RECEIVABLES TURNOVER |
TIMES |
21.07 |
13.15 |
12.64 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
3.54 |
23.52 |
23.09 |
|
CASH CONVERSION CYCLE |
DAYS |
15.91 |
7.37 |
8.75 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
92.40 |
94.23 |
92.08 |
|
SELLING & ADMINISTRATION |
% |
6.61 |
5.52 |
5.48 |
|
INTEREST |
% |
0.07 |
0.07 |
0.14 |
|
GROSS PROFIT MARGIN |
% |
8.39 |
7.04 |
8.68 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.78 |
1.52 |
3.20 |
|
NET PROFIT MARGIN |
% |
1.28 |
1.12 |
2.09 |
|
RETURN ON EQUITY |
% |
14.17 |
14.27 |
31.71 |
|
RETURN ON ASSET |
% |
12.57 |
8.00 |
14.45 |
|
EARNING PER SHARE |
BAHT |
64.64 |
70.13 |
165.36 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.11 |
0.44 |
0.54 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.13 |
0.78 |
1.19 |
|
TIME INTEREST EARNED |
TIMES |
25.97 |
22.04 |
22.86 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(19.54) |
(20.38) |
|
|
OPERATING PROFIT |
% |
(5.56) |
(62.28) |
|
|
NET PROFIT |
% |
(7.82) |
(57.59) |
|
|
FIXED ASSETS |
% |
(11.97) |
(10.56) |
|
|
TOTAL ASSETS |
% |
(41.33) |
(23.41) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -19.54%. Turnover has decreased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
8.39 |
Deteriorated |
Industrial
Average |
83.89 |
|
Net Profit Margin |
1.28 |
Acceptable |
Industrial
Average |
2.42 |
|
Return on Assets |
12.57 |
Impressive |
Industrial
Average |
6.22 |
|
Return on Equity |
14.17 |
Satisfactory |
Industrial
Average |
17.54 |
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 8.39%. 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 1.28%.
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. Return on Assets ratio is
12.57%, 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. When compared with the
industry average, it was lower, the company's figure is 14.17%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
EXCELLENT
LIQUIDITY RATIO
|
Current Ratio |
5.12 |
Impressive |
Industrial
Average |
1.48 |
|
Quick Ratio |
4.65 |
|
|
|
|
Cash Conversion Cycle |
15.91 |
|
|
|
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 5.12 times in 2013, increased from 1.63 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 4.65 times in 2013,
increased from 1.5 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 16 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.11 |
Impressive |
Industrial
Average |
0.63 |
|
Debt to Equity Ratio |
0.13 |
Impressive |
Industrial
Average |
1.70 |
|
Times Interest Earned |
25.97 |
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 25.98 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 0.11 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
23.27 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
9.84 |
Impressive |
Industrial
Average |
2.57 |
|
Inventory Conversion Period |
2.12 |
|
|
|
|
Inventory Turnover |
171.99 |
Impressive |
Industrial
Average |
7.36 |
|
Receivables Conversion Period |
17.33 |
|
|
|
|
Receivables Turnover |
21.07 |
Impressive |
Industrial
Average |
4.36 |
|
Payables Conversion Period |
3.54 |
|
|
|
The company's Account Receivable Ratio is calculated as 21.07 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 3 days at the end
of 2012 to 2 days at the end of 2013. This represents a positive trend. And
Inventory turnover has increased from 116.15 times in year 2012 to 171.99 times
in year 2013.
The company's Total Asset Turnover is calculated as 9.84 times and 7.17
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.62.59 |
|
|
1 |
Rs.92.45 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.