MIRA INFORM REPORT
|
Report No. : |
314711 |
|
Report Date : |
09.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRACHINBURI GLASS INDUSTRY COMPANY LIMITED |
|
|
|
|
Registered Office : |
32nd Floor, Ocean Tower 1, 170/87 New Ratchadapisek Road, Klongtoey, Bangkok 10110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
03.08.2007 |
|
|
|
|
Com. Reg. No.: |
0105550081694 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in manufacturing service various sizes
of glass bottles
[100 cc. & 150cc.] for “RED
BULL” and “SPONSOR” energy drinks. |
|
|
|
|
No. of Employee : |
190 |
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 – 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 and address
PRACHINBURI GLASS
INDUSTRY COMPANY LIMITED
SUMMARY
BUSINESS ADDRESS : 32nd FLOOR,
OCEAN TOWER 1,
170/87 NEW
RATCHADAPISEK ROAD,
KLONGTOEY, BANGKOK
10110, THAILAND
TELEPHONE : [66] 2648-6100
FAX :
[66] 2261-2390
E-MAIL ADDRESS : -
REGISTRATION ADDRESS : SAME AS BUSINESS ADDRESS
ESTABLISHED : 2007
REGISTRATION NO. : 0105550081694
TAX ID NO. : 3032736534
CAPITAL REGISTERED : BHT. 600,000,000
CAPITAL PAID-UP : BHT. 600,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SURASAK DECHARIN, THAI
PRESIDENT
NO. OF STAFF : 190
LINES OF BUSINESS : GLASS BOTTLES
CONTRACT MANUFACTURER
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
3, 2007 as
a private limited
company under the
registered name PRACHINBURI GLASS INDUSTRY COMPANY LIMITED,
by Thai groups, in order to
provide manufacturing service
various sizes of
glass bottles to domestic market.
It currently employs
approximately 190 staff.
Subject is a joint
venture between Bangkok Glass
Industry Co., Ltd. and
T.C. Pharmaceutical Industries
Co., Ltd., Thailand,
with holding around
51% and 49%
of the subject’s
shares respectively.
It achieved the
standard ISO 9001 : 2008
certification, product management
system by SGS
on October 11,
2010.
The subject’s registered address
is 32nd Floor,
Ocean Tower 1, 170/87
New Ratchadapisek Rd., Klongtoey,
Bangkok 10110, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Surasak Decharin |
|
Thai |
67 |
|
Mr. Pawin Bhirombhakdi |
|
Thai |
40 |
|
Mrs. Amarat Puvaveeranin |
|
Thai |
58 |
|
Mr. Saravoot Yoovidhya |
|
Thai |
40 |
|
Ms. Nucharee Yoovidhya |
|
Thai |
42 |
AUTHORIZED
PERSON
Any two
of the above
directors can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Surasak Decharin is the
President.
He is
Thai nationality with
the age of
67 years old.
Mr. Pawin Bhirombhakdi
is the Managing
Director.
He is
Thai nationality with
the age of
40 years old.
Mr. Man
Suwanpinta is
the Factory Manager.
He is
Thai nationality.
Mrs. Amarat Puvaveeranin
is the Chief
of Financial Officer.
She is
Thai nationality with
the age of
58 years old.
Mr. Naris
Krailadsiri is
the Chief of
Technical Officer.
He is
Thai nationality.
BUSINESS
OPERATIONS
The subject is
engaged in manufacturing
service various sizes of
glass bottles [100 cc.
& 150cc.] for “RED BULL”
and “SPONSOR” energy drinks.
PRODUCION
CAPACITY
180 tons or 1
million bottles per
day or 30 million
bottles per month.
PURCHASE
Most of
raw materials, chemical
and glass scrap
are purchased from
local suppliers, the
remaining is imported
from Germany, Japan,
India and Republic
of China.
MAJOR
SUPPLIER
BANGKOK GLASS INDUSTRY CO., LTD. : THAILAND
SALES/SERVICES
100% of
the products is
sold and serviced
locally to T.C.
Pharmaceutical Industries Co.,
Ltd. [95%], and
other beverage manufacturers
and wholesalers [5%].
MAJOR
CUSTOMER
T.C. Pharmaceutical Industries
Co., Ltd.
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 & services
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
Kasikornbank Public
Co., Ltd.
Bangkok Bank
Public Co., Ltd.
The Siam
Commercial Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 190 office staff
and factory workers.
LOCATION
DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in commercial
area.
Factory and warehouse
are located at
63 Moo 9,
Bansrang-Bangkhanak Road,
Bansrang, Prachinburi 25150. Tel. [66] 37
415-100, Fax [66] 37
415-120. Premise is
located on the
land area of
395,200 square meters.
COMMENT
The subject was
formed in 2007 as
a manufacturing services
of glass bottles. The
subject is a
major supplier of
glass bottles for
RED BULL energy drink. Its
products are priority
served to T.C.
Pharmaceutical Industries Co.,
Ltd., a manufacture of RED BULL
energy drink, and
the rest to
other beverages manufacturers
and wholesalers.
However, the country’s economic
sluggish has affected
on consumer market
during the past
several years. Moreover,
the cost of
goods sold in
2013 has risen
significantly which resulted
in a decrease
in the profit
margin and ended
up with net
loss at the end
of year. The
current consumer market
is still gloomy.
FINANCIAL
INFORMATION
The capital was
registered at Bht.
600,000,000 divided into
6,000,000 shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
[as at April
3, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Bangkok Glass
Industry Co., Ltd. Nationality: Thai Address :
32nd Floor, Ocean
Tower 1, 170/87
New Ratchadapisek Rd., Klongtoey, Bangkok |
3,059,997 |
51.00 |
|
T.C. Pharmaceutical Industries
Co., Ltd. Nationality: Thai Address :
39/19 Moo 8,
Ekachai Rd., Bangbon,
Bangkok |
2,939,998 |
49.00 |
|
Mr. Surasak
Decharin Nationality: Thai Address :
114 Soi Ramindra
67 Yaek 4, Kannayao,
Bangkok |
1 |
- |
|
Mr. Pawin
Bhirombhakdi Nationality: Thai Address :
563 Soi Ramkhamhaeng, Huamak,
Bangkapi, Bangkok |
1 |
- |
|
Mrs. Amarat
Puvaveeranin Nationality: Thai Address :
98/160 Moo 5, Bangkuwieng, Bangkruay,
Nonthaburi |
1 |
- |
|
Mr. Saravoot
Yoovidhya Nationality: Thai Address :
39 Moo 8,
Bangbon, Bangkok |
1 |
- |
|
Ms. Nucharee
Yoovidhya Nationality: Thai Address :
39 Moo 8,
Bangbon, Bangkok |
1 |
- |
Total Shareholders
: 7
Share Structure
[as at
April 3, 2014]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
6,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
6,000,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Vissuta Jariyathanakorn No. 3853
BALANCE
SHEET [BAHT]
The latest financial
figures published for
December 31, 2013,
2012 & 2011
were:
ASSETS
|
Current Assets |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
5,847,928 |
4,763,094 |
3,455,738 |
|
Trade
Accounts & Other
Receivable |
62,285,407 |
64,694,627 |
- |
|
Trade
Account Receivable - Related
Company |
- |
- |
65,991,731 |
|
Inventories |
116,181,276 |
68,890,241 |
56,482,214 |
|
Refundable Value
Added Tax |
369,839 |
360,939 |
- |
|
Refundable Import
Duty |
923,617 |
2,005,667 |
- |
|
Other Current
Assets |
904,834 |
1,864,063 |
5,005,232 |
|
|
|
|
|
|
Total Current
Assets |
186,512,901 |
142,578,631 |
130,934,915 |
|
Fixed Assets |
1,085,792,395 |
1,142,553,785 |
1,237,951,825 |
|
Computer Programme |
1,229,846 |
918,599 |
1,067,490 |
|
Deferred Income
Tax Assets |
448,998 |
205,011 |
- |
|
Other Non-current
Assets |
587,747 |
68,200 |
68,200 |
|
Total Assets |
1,274,571,887 |
1,286,324,226 |
1,370,022,430 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Short-term Loan
from Bank |
529,000,000 |
422,000,000 |
50,000,000 |
|
Trade Accounts
& Other Payable |
71,514,243 |
81,967,406 |
67,336,240 |
|
Current Portion of
Long-term Loan from Bank |
64,000,000 |
68,000,000 |
148,000,000 |
|
Accrued Income Tax |
- |
58,122 |
155,562 |
|
Other Current
Liabilities |
261,911 |
978,928 |
4,572,136 |
|
|
|
|
|
|
Total Current
Liabilities |
664,776,154 |
573,004,456 |
270,063,938 |
|
Long-term Loan
from Parent Company |
- |
- |
324,500,000 |
|
Long-term Loan
from Bank, Net
of Current
Portion |
- |
64,000,000 |
132,000,000 |
|
Reserve for
Employee Benefits |
1,687,941 |
1,025,053 |
800,000 |
|
Total Liabilities
|
666,464,095 |
638,029,509 |
727,363,938 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share
capital : Baht 100 par
value Authorized
& issued share
capital 6,000,000
shares |
600,000,000 |
600,000,000 |
600,000,000 |
|
|
|
|
|
|
Capital Paid |
600,000,000 |
600,000,000 |
600,000,000 |
|
Retained Earning |
|
|
|
|
Appropriated for Statutory Reserve |
4,455,000 |
3,645,000 |
2,392,000 |
|
Other
Reserve |
810,000 |
- |
- |
|
Unappropriated |
2,842,792 |
44,649,717 |
40,266,492 |
|
Total Shareholders'
Equity |
608,107,792 |
648,294,717 |
642,658,492 |
|
Total Liabilities
& Shareholders' Equity |
1,274,571,887 |
1,286,324,226 |
1,370,022,430 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Sales Income |
649,981,775 |
692,641,652 |
628,185,863 |
|
Gain on Exchange Rate |
225,902 |
107,384 |
56,401 |
|
Insurance Compensation |
- |
339,008 |
- |
|
Other Income |
466,425 |
532,023 |
2,619,872 |
|
Total Revenues |
650,674,102 |
693,620,067 |
630,862,136 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of
Goods Sold |
612,140,689 |
626,099,520 |
555,776,404 |
|
Selling Expenses |
1,597,058 |
1,703,530 |
2,993,571 |
|
Administrative Expenses
|
51,688,623 |
26,228,012 |
18,935,491 |
|
Loss from
Exchange Rate |
- |
- |
2,185,931 |
|
Total Expenses
|
665,426,370 |
654,031,062 |
579,891,397 |
|
|
|
|
|
|
Profit before
Financial Expense & Income
Tax |
[14,752,268] |
39,589,005 |
50,970,739 |
|
Financial
Expenses |
[18,478,644] |
[23,535,426] |
[25,749,987] |
|
|
|
|
|
|
Profit before
Income Tax |
[33,230,912] |
16,053,579 |
25,220,752 |
|
Income Tax |
243,987 |
[77,354] |
[155,562] |
|
|
|
|
|
|
Net Profit / [Loss] |
[32,986,925] |
15,976,225 |
25,065,190 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.28 |
0.25 |
0.48 |
|
QUICK RATIO |
TIMES |
0.10 |
0.12 |
0.26 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS
TURNOVER |
TIMES |
0.60 |
0.61 |
0.51 |
|
TOTAL ASSETS
TURNOVER |
TIMES |
0.51 |
0.54 |
0.46 |
|
INVENTORY
CONVERSION PERIOD |
DAYS |
69.28 |
40.16 |
37.09 |
|
INVENTORY
TURNOVER |
TIMES |
5.27 |
9.09 |
9.84 |
|
RECEIVABLES
CONVERSION PERIOD |
DAYS |
34.98 |
34.09 |
- |
|
RECEIVABLES
TURNOVER |
TIMES |
10.44 |
10.71 |
- |
|
PAYABLES
CONVERSION PERIOD |
DAYS |
42.64 |
47.78 |
44.22 |
|
CASH CONVERSION
CYCLE |
DAYS |
61.61 |
26.47 |
(7.13) |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS
SOLD |
% |
94.18 |
90.39 |
88.47 |
|
SELLING &
ADMINISTRATION |
% |
8.20 |
4.03 |
3.49 |
|
INTEREST |
% |
2.84 |
3.40 |
4.10 |
|
GROSS PROFIT
MARGIN |
% |
5.93 |
9.75 |
11.95 |
|
NET PROFIT MARGIN
BEFORE EX. ITEM |
% |
(2.27) |
5.72 |
8.11 |
|
NET PROFIT MARGIN |
% |
(5.08) |
2.31 |
3.99 |
|
RETURN ON EQUITY |
% |
(5.42) |
2.46 |
3.90 |
|
RETURN ON ASSET |
% |
(2.59) |
1.24 |
1.83 |
|
EARNING PER SHARE |
BAHT |
(5.50) |
2.66 |
4.18 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.52 |
0.50 |
0.53 |
|
DEBT TO EQUITY
RATIO |
TIMES |
1.10 |
0.98 |
1.13 |
|
TIME INTEREST
EARNED |
TIMES |
(0.80) |
1.68 |
1.98 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(6.16) |
10.26 |
|
|
OPERATING PROFIT |
% |
(137.26) |
(22.33) |
|
|
NET PROFIT |
% |
(306.48) |
(36.26) |
|
|
FIXED ASSETS |
% |
(4.97) |
(7.71) |
|
|
TOTAL ASSETS |
% |
(0.91) |
(6.11) |
|
ANNUAL
GROWTH : RISKY
An annual sales
growth is -6.16%. Turnover has decreased from THB
PROFITABILITY : ACCEPTABLE
PROFITABILITY RATIO
|
Gross Profit
Margin |
5.93 |
Impressive |
Industrial
Average |
4.33 |
|
Net Profit Margin |
(5.08) |
Deteriorated |
Industrial
Average |
3.34 |
|
Return on Assets |
(2.59) |
Deteriorated |
Industrial
Average |
2.17 |
|
Return on Equity |
(5.42) |
Deteriorated |
Industrial
Average |
4.03 |
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.
Gross Profit Margin is 5.93%. 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 -5.08%. 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 -2.59%.
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 -5.42%.
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 |
0.28 |
Risky |
Industrial
Average |
1.12 |
|
Quick Ratio |
0.10 |
|
|
|
|
Cash Conversion
Cycle |
61.61 |
|
|
|
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 0.28 times in 2013,
increased from 0.25 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 0.1 time in 2013, decreased 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 62 days.
Trend of the average competitors in the same
industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.52 |
Acceptable |
Industrial
Average |
0.52 |
|
Debt to Equity
Ratio |
1.10 |
Risky |
Industrial
Average |
1.07 |
|
Times Interest
Earned |
(0.80) |
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
-0.8 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 0.52 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 : IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets
Turnover |
0.60 |
Impressive |
Industrial
Average |
- |
|
Total Assets
Turnover |
0.51 |
Satisfactory |
Industrial
Average |
0.65 |
|
Inventory
Conversion Period |
69.28 |
|
|
|
|
Inventory
Turnover |
5.27 |
Impressive |
Industrial
Average |
4.00 |
|
Receivables
Conversion Period |
34.98 |
|
|
|
|
Receivables
Turnover |
10.44 |
Impressive |
Industrial
Average |
3.32 |
|
Payables
Conversion Period |
42.64 |
|
|
|
The company's
Account Receivable Ratio is calculated as 10.44 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 40 days at the end of 2012 to 69 days at the end of 2013. This
represents a negative trend. And Inventory turnover has decreased from 9.09
times in year 2012 to 5.27 times in year 2013.
The company's Total
Asset Turnover is calculated as 0.51 times and 0.54 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
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
|
1 |
Rs.92.53 |
|
Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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.