MIRA INFORM REPORT
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Report No. : |
304808 |
|
Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHAZE INDUSTRIALCO., LTD. |
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Formerly Known As : |
GENERAL METAL PRODUCTS CO., LTD. |
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Registered Office : |
Gateway City Industrial Estate 225 Moo 7, T. Huasamrong, A. Plaengyao, Chachoengsao 24190 |
|
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|
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Country : |
Thailand |
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|
|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
18.06.2009 |
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Com. Reg. No.: |
0705552000611 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Subject is engaged
in smelting and
refining of non-ferrous
metals, mainly as
lead, battery scraps,
and producing of
lead ingots and
lead alloy ingot. |
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|
|
|
No. of Employee : |
65 |
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 |
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Payment Behaviour : |
Slow but correct |
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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 |
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Restricted |
C2 |
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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
CHAZE
INDUSTRIAL CO., LTD.
[FORMER : GENERAL METAL
PRODUCTS CO., LTD.]
SUMMARY
BUSINESS
ADDRESS : GATEWAY CITY
INDUSTRIAL ESTATE,
225 MOO
7, T. HUASAMRONG,
A. PLAENGYAO,
CHACHOENGSAO 24190,
THAILAND
TELEPHONE : [66] 38 575-464-5
FAX :
[66] 38
575-465
E-MAIL
ADDRESS : info@chaze.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2009
REGISTRATION
NO. : 0705552000611
TAX
ID NO. : 3033511574
CAPITAL REGISTERED : BHT. 93,000,000
CAPITAL PAID-UP : BHT. 93,000,000
SHAREHOLDER’S PROPORTION : THAI :
53.22%
INDIAN
: 46.78%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. VIJENDRA KEDIA,
INDIAN
PRESIDENT AND
MANAGING DIRECTOR
NO.
OF STAFF : 65
LINES
OF BUSINESS : NON
FERROUS SMELTING &
REFINING
MANUFACTURER, DISTRIBUTOR
& 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 June 18, 2009 as
a private limited
company under the originally registered name “General
Metal Products Co.,
Ltd.” by Thai and Indian groups. On August 27,
2010, its registered name was
changed to CHAZE
INDUSTRIAL CO., LTD. Its objective is engaged in non-ferrous metal smelting
and refining with
BOI promoted. It
currently employs 65 staff.
The
subject is also
one of the
largest non ferrous
metal smelting and
refining companies in
Thailand.
The
subject’s registered address
is Gateway City
Industrial Estate, 225
Moo 7,
T.
Huasamrong, A. Plaengyao,
Chachoengsao 24190, and
this is the
subject’s
current
operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Anake Sachamuniwong |
|
Thai |
38 |
|
Mr. Vijendra Kedia |
|
Indian |
42 |
AUTHORIZED
PERSON
Both of the
mentioned directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Vijendra Kedia is
the President and
Managing Director.
He is Indian
nationality with the
age of 42 years
old.
Ms. Suchanan Nandani is
the Vice President
[Procurement and Administration].
She is Thai
nationality.
Mr. Anake Sachamuniwong is
the Vice President
[Sales & Marketing].
He is Thai
nationality with the
age of 38
years old.
Mr. J.J. Biswas is
the General Manager
[Operation].
He is Indian
nationality.
Mr. Dewesh Misra is
the Production & QA
Manager.
He is Indian
nationality.
BUSINESS
OPERATIONS
The subject
is engaged in
smelting and refining
of non-ferrous metals,
mainly as lead,
battery scraps, and
producing of lead
ingots and lead
alloy ingot. Ranges
of products include
pure lead, lead-antimony
alloy, lead-calcium alloy
and lead selenium
alloy, supply to
battery industries and
others.
PURCHASE
Most
of raw materials
are purchased from
local suppliers, the
remaining as well
as machinery are
imported from India,
Republic of China
Germany and France.
SALES
The products are
sold to customers
both local and
overseas, in India,
Japan, Malaysia, Republic
of China, Indonesia,
U.S.A., and the
countries in Europe.
MAJOR
CUSTOMERS
Yuasa Battery Thailand
Public Company Limited : Thailand
Thai Petroleum & Trading Co.,
Ltd. : Thailand
Uniwerks
Metal Private Ltd. : 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
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
65 staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
and factory on
16,000 square meters
of land at
the heading address.
Premise is located
in industrial area.
Bangkok
office is located
at Room 14/5
14th Floor, MEC
Building, 888 Bangna-Trad
Rd., Bangna, Bangkok
10260. Tel.: [66] 2744-6606
Fax : [66] 2744-6609.
COMMENT
The
subject is one
of the fastest
growing companies with
operations started in
2011. It hands
on experience in
this field has helped
it become the
largest non-ferrous metal smelting and
refining companies in Thailand.
It runs processes of
smelting lead battery
scraps and produce lead
ingots and lead
alloy ingots.
It
is a BOI promoted
company brought up
by highly skilled
professionals having indepth
knowledge and vast
experience in non-ferrous
metals refining and
manufacturing processes, at
par with international
players and standards.
Subject
reported its outstanding
business in the
year 2013 as well
as growing steadily
in 2014.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each with fully
paid.
The
capital was increased
later as follows:
Bht. 20,000,000
on April 1, 2010
Bht. 52,000,000
on August 27,
2010
Bht. 60,000,000
on February 4,
2011
Bht. 90,000,000
on November 14,
2011
Bht. 93,000,000
on December 27,
2012
The
latest registered capital
was increased to
Bht. 93 million, divided into
930,000 shares of
Bht. 100 each with
fully paid.
THE SHAREHOLDERS
LISTED WERE
[as
at October 24,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Vijendra Kedia Nationality: Indian Address : Bengal,
India |
4,353,400 |
46.81 |
|
Mr. Charoen Sachamuniwong Nationality: Thai Address : 158/335
Charansanitwong Rd., Bangbamru,
Bangplad, Bangkok |
1,119,049 |
12.03 |
|
Mr. Amorn Panichkaiwalkosil Nationality: Thai Address : 21
Charansanitwong 1 Rd.,
Wadthaphra,
Bangkokyai, Bangkok |
1,042,154 |
11.21 |
|
Mr. Anake Sachamuniwong Nationality: Thai Address : 284
Soi Ratchadapisek 16,
Wadthaphra,
Bangkokyai, Bangkok |
830,224 |
8.93 |
|
Mr. Direk Panichkaiwalkosil Nationality: Thai Address : 21
Charansanitwong 1 Rd.,
Wadthaphra,
Bangkokyai, Bangkok |
752,748 |
8.09 |
|
Mrs. Jaspigor Panichkaiwalkosil Nationality: Thai Address : 21
Charansanitwong 1 Rd.,
Wadthaphra,
Bangkokyai, Bangkok |
529,698 |
5.70 |
|
Mrs. Pranee Panichkaiwalkosil Nationality: Thai Address : 25/3
Charansanitwong Rd., Wadthaphra,
Bangkokyai, Bangkok |
372,727 |
4.01 |
|
Ms. Huijing Saetang Nationality: Thai Address : 1/1
Soi 32 Taiban
Rd., Paknam, Muang,
Samutprakarn |
300,000 |
3.22 |
Total Shareholders : 8
Share Structure [as
at October 24,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
4,950,000 |
53.22 |
|
Foreign-Indian |
1 |
4,350,000 |
46.78 |
|
Total |
8 |
9,300,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mr. Krisana Tiwari No. 2969
BALANCE
SHEET [BAHT]
The latest financial figures published
as at December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
1,558,343.41 |
2,164,089.71 |
741,644.68 |
|
Trade Accounts &
Other Receivable |
98,244,680.42 |
51,950,690.28 |
56,148,420.25 |
|
Inventories |
66,009,457.82 |
53,547,746.65 |
17,395,771.92 |
|
Other Current Assets
|
2,724,681.71 |
81,166.36 |
2,473,960.19 |
|
|
|
|
|
|
Total Current Assets
|
168,537,163.36 |
107,743,693.00 |
76,759,797.04 |
|
Cash at Bank
pledged as a Collateral |
6,049,755.02 |
6,042,076.53 |
- |
|
Fixed Assets |
152,878,091.94 |
134,992,797.56 |
130,879,774.30 |
|
Other Non-current Assets |
2,674,164.78 |
997,242.80 |
641,277.12 |
|
Total Assets |
330,139,175.10 |
249,775,809.89 |
208,280,848.46 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Loan from Financial Institution |
145,053,761.37 |
108,055,269.63 |
79,507,393.77 |
|
Trade Accounts and Other Payable
|
52,444,599.21 |
9,486,533.27 |
11,163,482.38 |
|
Current Portion of
Hire-purchase Contract Liabilities |
535,383.12 |
499,620.00 |
499,620.00 |
|
Current Portion of
Long-term Loans from Financial
Institution |
- |
- |
4,008,000.00 |
|
Current Portion of
Long-term Liabilities |
5,328,000.00 |
5,328,000.00 |
- |
|
|
|
|
|
|
Total Current Liabilities |
203,361,743.70 |
123,369,422.90 |
95,178,496.15 |
|
Hire-purchase Contract Liabilities |
920,506.05 |
1,059,246.00 |
1,558,866.00 |
|
Long-term Loan from
Financial Institution |
10,607,051.00 |
15,935,051.00 |
14,912,459.00 |
|
Loan from Person or Related Company |
20,607,453.57 |
19,217,600.00 |
11,086,945.00 |
|
Employee Benefit Obligation |
184,427.00 |
- |
- |
|
Total Liabilities |
235,681,181.32 |
159,581,319.90 |
122,736,766.15 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 9,000,000 shares in 2011;
9,300,000 shares in
2013 & 2012 respectively |
93,000,000.00 |
93,000,000.00 |
90,000,000.00 |
|
|
|
|
|
|
Capital Paid |
93,000,000.00 |
93,000,000.00 |
90,000,000.00 |
|
Retained Earning Unappropriated |
1,457,993.78 |
[2,805,510.01] |
[4,455,917.69] |
|
Total Shareholders' Equity |
94,457,993.78 |
90,194,489.99 |
85,544,082.31 |
|
Total Liabilities &
Shareholders' Equity |
330,139,175.10 |
249,775,809.89 |
208,280,848.46 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales & Service
Income |
429,498,237.06 |
221,617,809.88 |
147,678,186.05 |
|
Gain on Exchange Rate |
- |
- |
541,948.34 |
|
Other Income |
4,825,670.95 |
55,149.73 |
122,359.90 |
|
Total Revenues |
434,323,908.01 |
221,672,959.61 |
148,342,494.29 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
395,629,572.69 |
190,234,216.88 |
124,927,594.12 |
|
Selling Expenses |
5,655,893.77 |
3,141,970.60 |
1,856,568.99 |
|
Administrative Expenses |
15,057,023.07 |
14,785,697.12 |
15,362,522.41 |
|
Employee Benefits Expenses |
184,427.00 |
- |
- |
|
Loss on Disposal
of Assets |
- |
- |
82,429.91 |
|
Loss on Exchange
Rate |
- |
989,991.41 |
- |
|
Total Expenses |
416,526,916.53 |
209,151,876.01 |
142,229,115.43 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost |
17,796,991.48 |
12,521,083.60 |
6,113,378.86 |
|
Financial Costs |
[13,533,487.69] |
[10,870,675.92] |
[4,071,575.11] |
|
|
|
|
|
|
Net Profit / [Loss] |
4,263,503.79 |
1,650,407.68 |
2,041,803.75 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.83 |
0.87 |
0.81 |
|
QUICK RATIO |
TIMES |
0.49 |
0.44 |
0.60 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.81 |
1.64 |
1.13 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.30 |
0.89 |
0.71 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
60.90 |
102.74 |
50.83 |
|
INVENTORY TURNOVER |
TIMES |
5.99 |
3.55 |
7.18 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
83.49 |
85.56 |
138.78 |
|
RECEIVABLES TURNOVER |
TIMES |
4.37 |
4.27 |
2.63 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
48.38 |
18.20 |
32.62 |
|
CASH CONVERSION CYCLE |
DAYS |
96.01 |
170.10 |
156.98 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
92.11 |
85.84 |
84.59 |
|
SELLING & ADMINISTRATION |
% |
4.82 |
8.09 |
11.66 |
|
INTEREST |
% |
3.15 |
4.91 |
2.76 |
|
GROSS PROFIT MARGIN |
% |
9.01 |
14.19 |
15.86 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.14 |
5.65 |
4.14 |
|
NET PROFIT MARGIN |
% |
0.99 |
0.74 |
1.38 |
|
RETURN ON EQUITY |
% |
4.51 |
1.83 |
2.39 |
|
RETURN ON ASSET |
% |
1.29 |
0.66 |
0.98 |
|
EARNING PER SHARE |
BAHT |
0.46 |
0.18 |
0.23 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.71 |
0.64 |
0.59 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.50 |
1.77 |
1.43 |
|
TIME INTEREST EARNED |
TIMES |
1.32 |
1.15 |
1.50 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
93.80 |
50.07 |
|
|
OPERATING PROFIT |
% |
42.14 |
104.81 |
|
|
NET PROFIT |
% |
158.33 |
(19.17) |
|
|
FIXED ASSETS |
% |
13.25 |
3.14 |
|
|
TOTAL ASSETS |
% |
32.17 |
19.92 |
|
ANNUAL
GROWTH : EXCELLENT
An annual sales growth is 93.8%. Turnover has increased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
9.01 |
Deteriorated |
Industrial
Average |
22.82 |
|
Net Profit Margin |
0.99 |
Deteriorated |
Industrial
Average |
2.56 |
|
Return on Assets |
1.29 |
Deteriorated |
Industrial
Average |
4.74 |
|
Return on Equity |
4.51 |
Acceptable |
Industrial
Average |
8.87 |
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 9.01%. 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 0.99%.
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 1.29%.
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 4.51%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.83 |
Risky |
Industrial
Average |
2.08 |
|
Quick Ratio |
0.49 |
|
|
|
|
Cash Conversion Cycle |
96.01 |
|
|
|
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 0.83 times in 2013, decreased from 0.87 times, then the company may have
problems meeting its short-term obligations. 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 0.49 times in 2013,
increased from 0.44 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 97 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.71 |
Acceptable |
Industrial
Average |
0.48 |
|
Debt to Equity Ratio |
2.50 |
Risky |
Industrial
Average |
0.93 |
|
Times Interest Earned |
1.32 |
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 1.32 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 0.71 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.81 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.30 |
Acceptable |
Industrial
Average |
1.85 |
|
Inventory Conversion Period |
60.90 |
|
|
|
|
Inventory Turnover |
5.99 |
Impressive |
Industrial
Average |
4.22 |
|
Receivables Conversion Period |
83.49 |
|
|
|
|
Receivables Turnover |
4.37 |
Acceptable |
Industrial
Average |
8.01 |
|
Payables Conversion Period |
48.38 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.37 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 103 days at the
end of 2012 to 61 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 3.55 times in year 2012 to 5.99 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.3 times and 0.89
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.61.46 |
|
|
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.