MIRA INFORM REPORT
|
Report No. : |
303549 |
|
Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARTLINK COMPANY LIMITED |
|
|
|
|
Formerly Known As : |
SWISSTHAI S.A. CO., LTD. |
|
|
|
|
Registered Office : |
19/1 Soi Ladprao 57, Ladprao Road, Sapansong, Wangthonglang, Bangkok 10310 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
30.09.1986 |
|
|
|
|
Com. Reg. No.: |
0105529035085 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Distributor of Stationeries. |
|
|
|
|
No. of Employees : |
40 |
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 |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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
ARTLINK COMPANY
LIMITED
SUMMARY
BUSINESS ADDRESS : 19/1
SOI LADPRAO 57,
LADPRAO ROAD,
SAPANSONG, WANGTHONGLANG,
BANGKOK 10310, THAILAND
TELEPHONE : [66] 2514-9050-4
FAX : [66] 2514-9051
E-MAIL ADDRESS : artlink@inet.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1986
REGISTRATION NO. : 0105529035085 [Former : 3508/2529]
TAX ID NO. : 3101512281
CAPITAL REGISTERED
: BHT.
7,000,000
CAPITAL PAID-UP
: BHT.
7,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR
CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
CHOOPHONG ANGPIROJ, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 40
LINES OF
BUSINESS : STATIONERIES
IMPORTER AND
DISTRIBUTOR
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 September 30,
1986 as a private
limited company under the
originally registered name “Swissthai S.A.
Co., Ltd.” by
Thai groups. On
March 29, 1994,
subject’s name was changed to ARTLINK
COMPANY LIMITED. Its business
objective is an
importer and wholesale
distributor various kinds
of stationery products
to domestic market.
It currently employs
approximately 40 staff.
The subject’s registered address was
initially at 80/12-14 Soi Ladprao 58/1,
Ladprao Rd., Wangthonglang, Bangkok
10310.
On
July 15, 2010,
subject’s registered address
was relocated to
19/1 Soi Ladprao
57, Ladprao Rd.,
Sapansong, Wangthonglang, Bangkok
10310, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Burapa
Atthakorn |
|
Thai |
58 |
|
Mr. Kavinthorn Atthakorn |
|
Thai |
40 |
|
Mr. Choophong Angpiroj |
|
Thai |
74 |
|
Mr. Settakarn Angpiroj |
|
Thai |
45 |
|
Mr. Chuanchai Atchanan |
|
Thai |
74 |
|
Lt. Somsak
Yamasamit |
|
Thai |
78 |
|
Mr. Rodome
Angpiroj |
|
Thai |
49 |
AUTHORIZED
PERSON
Any
two of the
above directors can jointly sign on behalf of
the subject with company’s affixed.
MANAGEMENT
Mr. Choophong Angpiroj
is the Managing
Director.
He
is Thai nationality with
the age of 74
years old.
Mr. Burapa Atthakorn
is the Deputy
Managing Director.
He
is Thai nationality
with the age
of 58 years old.
BUSINESS
OPERATIONS
The
subject is engaged
in importing and
distributing various kinds
of stationeries as
follows:
Brand Products
“ARTLINE” : Stamps
pads & ink, CD-R markers,
drawing pens, OHP
markers,
permanent markers,
paint markers, whiteboard
markers
“SCHNEIDER” : Writing
pens, CD pens,
money checker, refills,
Hi-lighter
“XSTAMPER” : Pre-ink,
rubber stamp
“TRODAT” : Stamps,
pre-ink rubber stamp,
refill ink, numbering,
swop pads.
“LIBRA” : Rubber
stamp, Hi-lighter, writing
pens
“A-LINE” : Whiteboard,
cutting products, inks
“XTENSIONS” :
Snap stamp kits
“TAT” : Industrial
inks.
PURCHASE
90%
of the products
is imported from
Japan, Germany, Pakistan,
Republic of China
and U.S.A., 10%
of the rest
is purchased locally.
MAJOR SUPPLIERS
Noris
Color GmbH : Germany
Shachihata
Inc. : U.S.A.
Tradat
GmbH : Germany
SALES
100%
of the products
is sold locally
by wholesale to
dealers.
MAJOR CUSTOMERS
Office
Mate Co., Ltd.
Siam
Makro Public Company
Limited
Big C
Supercenter Public Company
Limited
Central
Retail Corporation Co.,
Ltd.
The
Mall Group Co.,
Ltd.
Ek-Chai
Distribution System Co.,
Ltd. [Tesco Lotus Hypermarket]
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
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
employs approximately 40
staff.
LOCATION
DETAILS
The premise
is owned for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
COMMENT
The company was formed in
1986 as a
stationery importer and
wholesaler. It has been
in this business for
more than 27
years, as well
as the products
have been well known
in domestic market
for decades.
Despite shrinking
domestic consumption, the
subject still retained
its good business.
FINANCIAL
INFORMATION
The capital
was registered at
Bht. 1,000,000 divided into 10,000
shares of Bht.
100 each.
The capital
was increased later
as following:
Bht. 6,000,000
on March 29,
1994
Bht. 7,000,000
on January 17,
2007
The latest
registered capital was
increased to Bht. 7,000,000 divided
into 70,000 shares
of Bht. 100
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
[as at May
2, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr.
Kavinthorn Atthakorn Nationality: Thai Address
: 55/7 Soi Sukhumvit
65, Prakanongnua, Wattana, Bangkok |
17,436 |
24.91 |
|
Mr.
Sethakarn Angpiroj Nationality: Thai Address
: 93 Sutthisarn
Rd., Huaykwang, Bangkok |
13,167 |
18.81 |
|
Mrs.
Prayong Atchanan Nationality: Thai Address
: 8 South Sathorn Rd., Yannawa,
Bangkok |
10,641 |
15.20 |
|
Mr.
Choophong Angpiroj Nationality: Thai Address
: 56/38 Moo 2,
Suthisarn Rd., Huaykwang,
Bangkok |
7,320 |
10.46 |
|
Ms. Daranee Angpairoj Nationality: Thai Address
: 93 Sutthisarn
Rd., Huaykwang, Bangkok |
6,385 |
9.12 |
|
Mrs.
Sheilagh Angpiroj Nationality: Thai Address
: 93 Soi Hasdinsewee, Huaykwang,
Bangkok |
5,000 |
7.14 |
|
Lt. Somsak Yamasamit Nationality: Thai Address
: 43 Sukhumvit 39
Rd., Klongtonnua, Wattana, Bangkok
|
4,730 |
6.76 |
|
Ms.
Chuticha Angpairoj Nationality: Thai Address
: 95 Moo
2, Huaykwang, Bangkok |
2,660 |
3.80 |
|
Mr. Rodome Angpiroj Nationality: Thai Address
: 56/38 Moo
2, Suthisarn Rd.,
Huaykwang, Bangkok |
2,660 |
3.80 |
|
|
|
|
|
Mr. Burapa Atthakorn Nationality: Thai Address
: 53 Sukhumvit
65 Rd., Prakanongnua, Wattana,
Bangkok |
1 |
- |
Total Shareholders
: 10
Share Structure
[as at May
2, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
10 |
70,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
10 |
70,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Tanate
Hengtrakulsin No. 0898
BALANCE
SHEET [BAHT]
The latest
financial figures published
for December 31,
2013, 2012 & 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash
and Cash Equivalent |
6,160,975.31 |
6,298,183.57 |
3,867,758.59 |
|
Short-term Investment |
327,689.96 |
321,675.49 |
- |
|
Trade
Accounts and Other Receivable |
27,392,971.22 |
25,604,819.85 |
21,570,511.81 |
|
Inventories |
13,642,806.38 |
11,839,926.68 |
10,847,494.84 |
|
Other
Current Assets |
287,848.61 |
279,422.89 |
862,045.73 |
|
Receivable Loan Employees |
- |
- |
143,410.00 |
|
Total Current
Assets |
47,812,291.48 |
44,344,028.48 |
37,291,220.97 |
|
|
|
|
|
|
Fixed Assets |
22,285,093.06 |
21,564,317.73 |
20,583,584.29 |
|
Other
Non-current Assets |
1,400.00 |
1,400.00 |
[3,500.00] |
|
Total Assets
|
70,098,784.54 |
65,909,746.21 |
57,871,305.26 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade
Accounts Payable |
25,015,501.31 |
26,615,369.95 |
19,413,050.79 |
|
Accrued Income Tax |
1,013,617.51 |
273,790.15 |
- |
|
Other
Current Liabilities |
737,296.21 |
332,901.84 |
1,706,514.39 |
|
Total Current
Liabilities |
26,766,45.03 |
27,222,061.94 |
21,119,565.18 |
|
Payable
Loan |
- |
- |
5,996,000.00 |
|
Long-term Loan from Financial Institutions |
796,755.64 |
2,304,000.00 |
- |
|
Long-term Loan from Related Person |
3,426,090.00 |
3,505,000.00 |
- |
|
Total Liabilities |
30,989,260.67 |
33,031,061.94 |
27,115,565.18 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share
capital : Baht 100 par
value
authorized, issued and
fully
paid share capital
70,000 shares |
7,000,000.00 |
7,000,000.00 |
7,000,000.00 |
|
Capital
Paid |
7,000,000.00 |
7,000,000.00 |
7,000,000.00 |
|
Retained Earning - Unappropriated |
32,109,523.87 |
25,878,684.27 |
23,755,740.08 |
|
Total Shareholders' Equity |
39,109,523.87 |
32,878,684.27 |
30,755,740.08 |
|
Total Liabilities
& Shareholders' Equity |
70,098,784.54 |
65,909,746.21 |
57,871,305.26 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales |
112,838,700.02 |
104,809,576.76 |
90,043,137.11 |
|
Other
Income |
2,507,913.26 |
619,567.37 |
415,037.93 |
|
Total Revenues
|
115,346,613.28 |
105,429,144.13 |
90,458,175.04 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost
of Goods Sold
|
53,753,026.86 |
60,786,991.33 |
53,635,785.31 |
|
Salary
Expenses |
- |
- |
13,640,139.00 |
|
Selling
Expenses |
21,119,385.21 |
13,965,042.13 |
11,549,711.24 |
|
Administrative Expenses |
30,867,546.21 |
26,559,310.07 |
5,735,208.01 |
|
Depreciation Assets |
- |
- |
2,271,176.80 |
|
Total Expenses |
105,739,958.28 |
101,311,343.53 |
86,832,020.36 |
|
Profit / [Loss] from
Operation |
9,606,655.00 |
4,117,800.60 |
3,626,154.68 |
|
Less:
Loss on Sales
of Assets |
- |
- |
[1,175,890.44] |
|
Profit
before Financial Expenses &
Income Tax |
9,606,655.00 |
4,117,800.60 |
2,450,264.24 |
|
Financial Expenses |
[496,499.65] |
[412,826.92] |
- |
|
Profit
before Income Tax |
9,110,155.35 |
3,704,973.68 |
2,450,264.24 |
|
Income
Tax 30% |
[1,829,315.75] |
[882,029.49] |
[735,079.27] |
|
Net Profit / [Loss] |
7,280,839.60 |
2,822,944.19 |
1,715,184.97 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY
RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.79 |
1.63 |
1.77 |
|
QUICK RATIO |
TIMES |
1.27 |
1.18 |
1.20 |
|
|
|
|
|
|
|
ACTIVITY
RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.06 |
4.86 |
4.37 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.61 |
1.59 |
1.56 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
92.64 |
71.09 |
73.82 |
|
INVENTORY TURNOVER |
TIMES |
3.94 |
5.13 |
4.94 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
88.61 |
89.17 |
87.44 |
|
RECEIVABLES TURNOVER |
TIMES |
4.12 |
4.09 |
4.17 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
169.86 |
159.81 |
132.11 |
|
CASH CONVERSION CYCLE |
DAYS |
11.38 |
0.45 |
29.15 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
47.64 |
58.00 |
59.57 |
|
SELLING & ADMINISTRATION |
% |
46.07 |
38.66 |
19.20 |
|
INTEREST |
% |
0.44 |
0.39 |
- |
|
GROSS PROFIT MARGIN |
% |
54.59 |
42.59 |
40.89 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
8.51 |
3.93 |
4.03 |
|
NET PROFIT MARGIN |
% |
6.45 |
2.69 |
1.90 |
|
RETURN ON EQUITY |
% |
18.62 |
8.59 |
5.58 |
|
RETURN ON ASSET |
% |
10.39 |
4.28 |
2.96 |
|
EARNING PER SHARE |
BAHT |
104.01 |
40.33 |
24.50 |
|
|
|
|
|
|
|
LEVERAGE
RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.44 |
0.50 |
0.47 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.79 |
1.00 |
0.88 |
|
TIME INTEREST EARNED |
TIMES |
19.35 |
9.97 |
- |
|
|
|
|
|
|
|
ANNUAL
GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
7.66 |
16.40 |
|
|
OPERATING PROFIT |
% |
133.30 |
13.56 |
|
|
NET PROFIT |
% |
157.92 |
64.59 |
|
|
FIXED ASSETS |
% |
3.34 |
4.76 |
|
|
TOTAL ASSETS |
% |
6.36 |
13.89 |
|
ANNUAL
GROWTH: EXCELLENT
An annual sales growth is 7.66%. Turnover has increased from THB
PROFITABILITY
: EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
54.59 |
Impressive |
Industrial Average |
18.93 |
|
Net Profit Margin |
6.45 |
Impressive |
Industrial Average |
3.08 |
|
Return on Assets |
10.39 |
Impressive |
Industrial Average |
4.49 |
|
Return on Equity |
18.62 |
Impressive |
Industrial Average |
9.34 |
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 54.59%. 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 6.45%, 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 10.39%, 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 18.62%, 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
: IMPRESSIVE
LIQUIDITY
RATIO
|
Current Ratio |
1.79 |
Impressive |
Industrial Average |
1.71 |
|
Quick Ratio |
1.27 |
|
|
|
|
Cash Conversion Cycle |
11.38 |
|
|
|
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 1.79 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 1.27 times in 2013, increased from 1.18 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
12 days.
Trend
of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE
: EXCELLENT
LEVERAGE
RATIO
|
Debt Ratio |
0.44 |
Impressive |
Industrial Average |
0.52 |
|
Debt to Equity Ratio |
0.79 |
Impressive |
Industrial Average |
1.06 |
|
Times Interest Earned |
19.35 |
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 19.35 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 0.44
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:
IMPRESSIVE
ACTIVITY
RATIO
|
Fixed Assets Turnover |
5.06 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.61 |
Impressive |
Industrial Average |
1.46 |
|
Inventory Conversion Period |
92.64 |
|
|
|
|
Inventory Turnover |
3.94 |
Satisfactory |
Industrial Average |
4.60 |
|
Receivables Conversion Period |
88.61 |
|
|
|
|
Receivables Turnover |
4.12 |
Impressive |
Industrial Average |
3.96 |
|
Payables Conversion Period |
169.86 |
|
|
|
The company's Account Receivable Ratio is
calculated as 4.12 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 71 days
at the end of 2012 to 93 days at the end of 2013. This represents a negative
trend. And Inventory turnover has decreased from 5.13 times in year 2012 to
3.94 times in year 2013.
The company's Total Asset Turnover is
calculated as 1.61 times and 1.59 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 Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.