MIRA INFORM REPORT
|
Report No. : |
335070 |
|
Report Date : |
03.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
AMBIKA INTERNATIONAL CO., LTD. |
|
|
|
|
Registered Office : |
19th Floor, Room A, Gems Tower Building,1249/159 Charoenkrung Road, Suriyawongse, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
09.07.1997 |
|
|
|
|
Com. Reg. No.: |
0105540064380 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in importing and
distributing of gold,
diamond and platinum
jewelry products with
various types such
as rings, bracelet,
pendant, necklace, earrings
and etc., as
well as diamonds
and gemstones. The subject
is also exporter
of jewelry products. |
|
|
|
|
No. of Employee : |
2 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Thailand |
A2 |
A2 |
|
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 has historically had a strong economy due in part to industrial and agriculture exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods. The economy experienced slow growth and declining exports in 2014, in part due to domestic political turmoil and sluggish global demand. With full employment, Thailand attracts an estimated 4 million migrant workers from neighboring countries, and faces labor shortages. Following the May 2014 coup d’�tat, tourism decreased 6-7% but is beginning to recover. The household debt to GDP ratio is over 80%. 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 baht has remained stable.
|
Source
: CIA |
Company
name and address
AMBIKA
INTERNATIONAL CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 19th FLOOR,
ROOM A, GEMS TOWER
BUILDING,
1249/159
CHAROENKRUNG ROAD, SURIYAWONGSE,
BANGRAK,
BANGKOK 10500, THAILAND
TELEPHONE : [66] 081
638-7538, 2233-9409
FAX :
[66] 2630-8826
E-MAIL
ADDRESS : bkk.ambika@gmail.com
varshilp@gmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1997
REGISTRATION
NO. : 0105540064380
TAX
ID NO. : 3011862209
CAPITAL REGISTERED : BHT. 4,000,000
CAPITAL PAID-UP : BHT.
4,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
INDIAN
: 49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PANKAJ VAHAL CHAND
CHHATRANI, INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 2
LINES
OF BUSINESS : JEWELRY PRODUCTS
IMPORTER, 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 July 9,
1997 as a
private limited company
under the registered
name AMBIKA INTERNATIONAL
CO., LTD. by Thai and Indian
groups, with the
business objective to
engage in international
trading for jewelry. It
currently employs 2 staff.
The
subject’s registered address
was initially located
at 10th Floor,
Suite 1005/1, Wanglee Building,
297 Suriwong Road,
Suriyawongse, Bangrak, Bangkok
10500.
Later,
its registered address
was relocated to Room 203, 2nd Flr., KBS Building, 30, 32, 34, 36, 38 Mahaesak 3
Rd., Suriyawongse, Bangrak,
Bangkok 10500.
On
September 6, 2013, it was
finally relocated to 19th
Floor, Room A, Gems Tower Building,
1249/159 Charoenkrung Road, Suriyawongse, Bangrak, Bangkok 10500, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Dheerendar Singh Shekhawat |
|
Indian |
40 |
|
Mr. Pankaj Vahal Chand
Chhatrani |
|
Indian |
40 |
|
Ms. Panadda Narkjai |
|
Thai |
29 |
AUTHORIZED
PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Pankaj Vahal Chand
Chhatrani is the
Managing Director.
He is Thai nationality with
the age of 40 years
old.
Mr. Dheerendar Singh Shekhawat
is the Deputy
Managing Director.
He is Thai
nationality with the
age of 40
years old.
BUSINESS
OPERATIONS
The subject
is engaged in
importing and distributing
of gold, diamond
and platinum jewelry
products with various
types such as
rings, bracelet, pendant,
necklace, earrings and
etc., as well
as diamonds and
gemstones. The subject
is also exporter
of jewelry products.
PURCHASE
The
products are purchased
from suppliers both
domestic and overseas,
mainly in India.
SALES
The products are
sold to customers
by wholesale to
local and overseas,
mainly in
Hong Kong, Republic
of China and
India.
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 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
T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
2 staff.
LOCATION
DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in a prime
commercial area.
COMMENT
Subject
is an importer
and distributor of
diamonds, gemstones and
precious jewelry products,
as well as
exporter of locally
made jewelry products with
diamond, gemstone and
semi-precious stones. Its
business in 2013 was outstanding
increased from the
previous year, this was due
to a large
order from new
customers.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 20,000
shares of Bht.
100 each with
fully paid.
On
March 31, 1998,
the registered capital
was increased to
Bht. 4,000,000 divided
into 40,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
[as
at April 30,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Pankaj Vahal Chand
Chhatrani Nationality: Indian Address : 315/426
Sathupradit Rd., Chongnonsi,
Yannawa, Bangkok |
16,000 |
40.00 |
|
Ms. Panadda Narkjai Nationality: Thai Address : 458/1
Moo 8, T. Laemrang, A.Bungnarang, Pichit |
14,500 |
36.25 |
|
Ms. Patcharin Watanasap Nationality: Thai Address : 23
Soi Ramkhamhaeng 60,
Huamark,
Bangkapi, Bangkok |
5,900 |
14.75 |
|
Mr. Dheerendar Singh Shekhawat Nationality: Indian Address : 1249/159
Charoenkrung Road,
Suriyawongse, Bangrak, Bangkok |
2,000 |
5.00 |
|
Mr. Parinkumar Girankumar Mehta Nationality: Indian Address : 1249/159
Charoenkrung Road,
Suriyawongse, Bangrak, Bangkok |
1,600 |
4.00 |
Total Shareholders : 5
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
2 |
20,400 |
51.00 |
|
Foreign - Indian |
3 |
19,600 |
49.00 |
|
Total |
5 |
40,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Ms. Benjawan Petchmuang No.
10311
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 |
65,102.20 |
89,801.50 |
671,592.60 |
|
Trade Accounts & Other
Receivable |
24,429,642.82 |
8,210,417.35 |
1,188,600.00 |
|
Short-term Loan to Person or Related Company |
6,580,000.00 |
- |
- |
|
Trade Accounts Receivable
|
- |
- |
8,000.00 |
|
Inventories |
15,686,204.17 |
21,086,986.86 |
12,017,908.42 |
|
Receivable - Revenue Department |
- |
- |
5,846.35 |
|
|
|
|
|
|
Total Current Assets
|
46,760,949.19 |
29,387,205.71 |
13,891,947.37 |
|
|
|
|
|
|
Fixed Assets |
40,878.06 |
30,164.24 |
48,776.24 |
|
Retention |
15,300.00 |
15,300.00 |
15,300.00 |
|
Total Assets |
46,817,127.25 |
29,432,669.95 |
13,956,023.61 |
LIABILITIES & SHAREHOLDERS’ EQUITY
[BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
14,863,718.84 |
- |
- |
|
Trade Accounts & Other Payable |
22,898,116.95 |
22,857,335.80 |
7,491,892.94 |
|
Other Payable |
- |
- |
32,010.78 |
|
Accrued Income Tax |
271,310.61 |
64,722.86 |
48,823.99 |
|
|
|
|
|
|
Total Current Liabilities |
38,033,146.40 |
22,922,058.66 |
7,572,727.71 |
|
Total Liabilities |
38,033,146.40 |
22,922,058.66 |
7,572,727.71 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and fully paid share
capital 40,000 shares |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
|
|
|
|
|
Capital Paid |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Retained Earning - Unappropriated |
4,783,980.85 |
2,510,611.29 |
2,383,295.90 |
|
Total Shareholders' Equity |
8,783,980.85 |
6,510,611.29 |
6,383,295.90 |
|
Total Liabilities &
Shareholders' Equity |
46,817,127.25 |
29,432,669.95 |
13,956,023.61 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
143,865,958.72 |
43,293,349.89 |
55,808,512.21 |
|
Other Income |
1,932,124.03 |
815,473.04 |
572,847.00 |
|
Total Revenues |
145,798,082.75 |
44,108,822.93 |
56,381,359.21 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
140,671,617.55 |
42,287,969.39 |
53,672,759.73 |
|
Administrative Expenses |
1,916,668.69 |
1,560,241.28 |
1,822,381.31 |
|
Total Expenses |
142,588,286.24 |
43,848,210.67 |
55,495,141.04 |
|
|
|
|
|
|
Profit / Loss] before Financial Costs & Income Tax |
3,209,796.51 |
260,612.26 |
886,218.17 |
|
Financial Costs |
[365,116.34] |
[20,574.01] |
[11,450.00] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax |
2,844,680.17 |
240,038.25 |
874,768.17 |
|
Income Tax |
[571,310.61] |
[112,722.86] |
[111,298.99] |
|
Net Profit / [Loss] |
2,273,369.56 |
127,315.39 |
763,469.18 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.23 |
1.28 |
1.83 |
|
QUICK RATIO |
TIMES |
0.82 |
0.36 |
0.25 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3,519.39 |
1,435.25 |
1,144.17 |
|
TOTAL ASSETS TURNOVER |
TIMES |
3.07 |
1.47 |
4.00 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
40.70 |
182.01 |
81.73 |
|
INVENTORY TURNOVER |
TIMES |
8.97 |
2.01 |
4.47 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
61.98 |
69.22 |
7.83 |
|
RECEIVABLES TURNOVER |
TIMES |
5.89 |
5.27 |
46.64 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
59.41 |
197.29 |
50.95 |
|
CASH CONVERSION CYCLE |
DAYS |
43.27 |
53.94 |
38.61 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
97.78 |
97.68 |
96.17 |
|
SELLING & ADMINISTRATION |
% |
1.33 |
3.60 |
3.27 |
|
INTEREST |
% |
0.25 |
0.05 |
0.02 |
|
GROSS PROFIT MARGIN |
% |
3.56 |
4.21 |
4.85 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.23 |
0.60 |
1.59 |
|
NET PROFIT MARGIN |
% |
1.58 |
0.29 |
1.37 |
|
RETURN ON EQUITY |
% |
25.88 |
1.96 |
11.96 |
|
RETURN ON ASSET |
% |
4.86 |
0.43 |
5.47 |
|
EARNING PER SHARE |
BAHT |
56.83 |
3.18 |
19.09 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.81 |
0.78 |
0.54 |
|
DEBT TO EQUITY RATIO |
TIMES |
4.33 |
3.52 |
1.19 |
|
TIME INTEREST EARNED |
TIMES |
8.79 |
12.67 |
77.40 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
232.30 |
(22.43) |
|
|
OPERATING PROFIT |
% |
1,131.64 |
(70.59) |
|
|
NET PROFIT |
% |
1,685.62 |
(83.32) |
|
|
FIXED ASSETS |
% |
35.52 |
(38.16) |
|
|
TOTAL ASSETS |
% |
59.07 |
110.90 |
|
ANNUAL
GROWTH : EXCELLENT
An annual sales growth is 232.3%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
3.56 |
Impressive |
Industrial
Average |
3.01 |
|
Net Profit Margin |
1.58 |
Impressive |
Industrial
Average |
0.58 |
|
Return on Assets |
4.86 |
Impressive |
Industrial
Average |
3.55 |
|
Return on Equity |
25.88 |
Impressive |
Industrial
Average |
14.14 |
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 3.56%. 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 1.58%, 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 4.86%, 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 25.88%, 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 Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.23 |
Satisfactory |
Industrial
Average |
1.60 |
|
Quick Ratio |
0.82 |
|
|
|
|
Cash Conversion Cycle |
43.27 |
|
|
|
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 1.23 times in 2013, decreased from 1.28 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 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 0.82 times in 2013,
increased from 0.36 times, by excluding inventory, the company may have problems
meeting current liabilities.
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 44 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.81 |
Acceptable |
Industrial
Average |
0.73 |
|
Debt to Equity Ratio |
4.33 |
Risky |
Industrial
Average |
2.73 |
|
Times Interest Earned |
8.79 |
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 8.8 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 0.81 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
3,519.39 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
3.07 |
Deteriorated |
Industrial
Average |
6.16 |
|
Inventory Conversion Period |
40.70 |
|
|
|
|
Inventory Turnover |
8.97 |
Acceptable |
Industrial
Average |
12.03 |
|
Receivables Conversion Period |
61.98 |
|
|
|
|
Receivables Turnover |
5.89 |
Acceptable |
Industrial
Average |
8.23 |
|
Payables Conversion Period |
59.41 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.89 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 182 days at the
end of 2012 to 41 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 2.01 times in year 2012 to 8.97 times
in year 2013.
The company's Total Asset Turnover is calculated as 3.07 times and 1.47
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
DIAMOND INDUSTRY – INDIA
-
From
time immemorial, India is well known in the world as the birthplace for
diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century when
Brazilian fields were discovered in 1725 followed by emergence of S. Africa,
Russia and Australia.
-
The
achievement of the Indian diamond industry was possible only due to combination
of the manufacturing skills of the Indian workforce and the untiring and
unflagging efforts of the Indian diamantaires, supported by progressive
Government policies.
-
The
area of study of family owned diamond businesses derives its importance from
the huge conglomerate of family run organizations which operate in the diamond
industry since many generations.
-
Some
of the basic traits of family run business enterprises include spirit of
entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick
to react, information as a source of advantage and philanthropy.
-
Family
owned diamond businesses need to improve on many fronts including higher
standard of corporate governance, long-term performance – focused strategies,
modern management and technology.
-
Utmost
caution is to be exercised while dealing with some medium and large diamond
traders which are usually engaged in fictitious import – export, inter-company
transactions, financially assisted by banks. In the process, several public
sector banks lost several hundred million rupees. They mostly diverted borrowed
money for diamond business into real estate and capital markets.
-
Excerpts
from Times of India dated 30th October 2010 is as under –
-
Gem
& Jewellery Export Promotion Council in its statistical data has shown the
export of polished diamonds to have increase by 28 % in February 2013. Compared
to $ 1.4 bn worth of polished diamond export in February, 2012, India exported
$ 1.84 billion worth of polished diamonds in February 2013. A senior executive
of GJEPC said, “Export of cut and polished diamonds started falling month-wise
after the imposition of 2 % of import duty on the polished diamonds. But
February, 2013 has given a new ray of hope to the industry as the export of
polished diamonds has actually increased by 28 %. It means the industry
is on the track of recovery and round tripping of diamonds has stopped
completely.” Demand has started coming from the US, the UK, Japan and China.
India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The
banking sector has started exercising restraint while following prudent risk
management norms when lending money to gems and jewellery sector. This follows
the implementation of Basel III accord – a global voluntary regulatory standard
on bank capital adequacy, stress testing and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.01 |
|
|
1 |
Rs.99.84 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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.