MIRA INFORM REPORT
|
Report No. : |
332589 |
|
Report Date : |
20.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIAMRUSA LIMITED |
|
|
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Registered Office : |
66/4-10 Soi Pramote [Yesu], Surawong Road, Suriyawongse, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
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|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
06.11.1981 |
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|
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Com. Reg. No.: |
0105524026649 |
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|
Legal Form : |
Private Limited Company |
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Line of Business : |
The subject’s activities are designer, manufacturer, exporter and wholesaler of elegant jewelry and precious stones mainly 14k and 18k fine gold and platinum jewelry set with diamonds and other precious stones including pearls |
|
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|
No. of Employees : |
150 |
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 |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Thailand |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
DIAMRUSA
LIMITED
SUMMARY
BUSINESS
ADDRESS : 66/4-10 SOI
PRAMOTE [YESU], SURAWONG
ROAD,
SURIYAWONGSE, BANGRAK,
BANGKOK 10500,
THAILAND
TELEPHONE : [66] 2237-8825-30, 2237-8563-5
FAX :
[66] 2236-6248,
2237-1573
E-MAIL
ADDRESS : diamrusa@diamrusa.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1981
REGISTRATION
NO. : 0105524026649 [Former: 2663/2524]
TAX
ID NO. : 3101339697
CAPITAL REGISTERED : BHT. 100,000,000
CAPITAL PAID-UP : BHT.
100,000,000
SHAREHOLDER’S PROPORTION : THAI :
63.40%
INDIAN
: 36.60%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SHAH SALIL SEVANTILALS,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 150
LINES
OF BUSINESS : JEWELRY PRODUCTS
MANUFACTURER, EXPORTER
AND DISTRIBUTOR
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 November 6,
1981 as a
private limited company
under the initially
registered name “Industrial Dyestuff
Limited” by Thai and
Indian groups. On
August 2, 1985,
the subject’s name was
changed to “Thai
Add Holding Limited”,
and finally changed
to DIAMRUSA LIMITED on October 3, 1986. The business
objective is to
manufacture various kinds of
jewelry products for
domestic and export
markets. It currently
employs approximately 150
staff.
It
is an affiliated
company of Kanopas
Limited, which is
also engaged in
jewelry
business.
The subject’s registered address is 66/4-10
Soi Pramote [Yesu], Surawong Rd., Suriyawongse, Bangrak, Bangkok
10500, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Shah Salil Sevantilals |
|
Indian |
55 |
|
Mr. Samir Sevantilal Shah |
|
Indian |
57 |
|
Ms. Wattana Jittjaicham |
|
Thai |
54 |
|
Ms. Oraporn Ajjanakulchai |
|
Thai |
58 |
|
Ms. Ratanaporn Pimthong |
|
Thai |
51 |
|
Ms. Supatra Phongsawadkul |
|
Thai |
49 |
AUTHORIZED PERSON
Any two of the
above directors can
jointly sign on behalf
of the subject
with
company’s affixed.
MANAGEMENT
Mr. Shah Salil Sevantilals
is the Managing
Director.
He is Indian
nationality with the
age of 55
years old.
Ms. Wattana Jittjaicham is
the Deputy Managing
Director, Sales &
Marketing Manager.
She is Thai
nationality with the
age of 54
years old.
BUSINESS OPERATIONS
The subject’s activities
are designer, manufacturer,
exporter and wholesaler
of elegant jewelry
and precious stones
mainly 14k and
18k fine gold
and platinum jewelry
set with diamonds
and other precious
stones including pearls,
under its own
brand name “DIAMRUSA”,
as well as customer’s own brands. The
subject is also a
distributor of precious
stones.
PURCHASE
Raw materials mainly
diamonds, precious stones,
pearls and components are
purchased from suppliers both domestic and overseas in
India, Republic of China, Japan, South Africa and
Hong Kong.
EXPORT
97%
of the products is exported to Europe, United States of America, Hong Kong, Japan, India,
Korea, Malaysia, Indonesia, Singapore,
Brazil, Colombia, Republic
of China and
Middle East countries.
SALES
3% of the products
is sold locally
to wholesalers.
PARENT COMPANY
Kanopas Limited :
Thailand
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 for 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
L/C at sight
or T/T.
BANKING
Deutsche Bank AG.
[Bangkok Office
: 208 Wireless
Rd., Lumpini, Pathumwan,
Bangkok]
Krung Thai Bank
Public Co., Ltd.
[Head Office
: 35 Sukhumvit
Rd., Klongtoey, Bangkok]
Bangkok Bank Public
Co., Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok]
EMPLOYMENT
The
subject employs approximately
150 office staff
and factory workers.
LOCATION DETAILS
The
premise is rented
for administrative office
and showroom, in
a 3 storey
building of 4 row shop houses at the
heading address. Premise
is located in a
prime commercial area.
Factory
is located at 3rd
Floor, Gemopolis
Industrial Estate, 48/12
Moo 4, Sukhapibal
2 Road, Dokmai,
Prawet, Bangkok 10250.
Branch
office and showroom
are located at 8,
10, 12, 14 Narathivas Ratchanakarin
Rd., Suriyawongse, Bangrak,
Bangkok 10500.
COMMENT
The subject manufactures of fine
jewelry products made from gold
and platinum with
diamond and precious
stones. Most of
the products are supplied
to international buyers.
The
subject captures a
worldwide market of
elegant jewelry and
precious stones. It
presents a wide
range of exclusive high-end
pieces, which are
created with unique
and innovative designs
in modern concepts,
delicate antique reproductions
and mysterious invisible
settings.
The constraints
on export expansion due to the slower-than -expected recovery of
the global economy has resulted
to slow business
outcome since 2014.
FINANCIAL INFORMATION
The capital
was registered at
Bht. 1,000,000 divided into 1,000
shares of Bht.
1,000
each.
The
capital was increased
later as following:
Bht. 3,000,000 on
October 3, 1986
Bht. 15,000,000
on April 24,
1989
Bht. 25,000,000
on June 23,
1989
Bht. 50,000,000
on January 18, 1993
Bht. 100,000,000
on May 14,
2008
The
latest registered capital
was increased to
Bht. 100,000,000 divided
into 1,000,000
shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE : [as at
April 29, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Kanopas Limited Nationality: Thai Address : 66/4
Surawong Rd., Suriyawongse,
Bangrak, Bangkok |
375,970 |
37.60 |
|
Mr. Shah Salil Sevantilals Nationality: Indian Address : 72/35
South Sathorn Rd., Thungmahamek,
Sathorn, Bangkok |
365,970 |
36.60 |
|
Ms. Wattana Jittjaicham Nationality: Thai Address : 160/586-8
Silom Rd., Suriyawongse,
Bangrak, Bangkok |
213,030 |
21.30 |
|
Ms. Supatra Phongsawadkul Nationality: Thai Address : 51/164
Moo 1, Nongkaem,
Bangkok |
15,010 |
1.50 |
|
Ms. Ratanaporn Pimthong Nationality: Thai Address : 160/586-8
Silom Rd., Suriyawongse, Bangrak, Bangkok |
15,010 |
1.50 |
|
Ms. Oraporn Ajjanakulchai Nationality: Thai Address : 427/143
Puthabucha Rd., Bangmod,
Jomthong, Bangkok |
15,010 |
1.50 |
Total Shareholders : 6
Share Structure
[as at April
29, 2015]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
634,030 |
63.40 |
|
Foreign - Indian |
1 |
365,970 |
36.60 |
|
Total |
6 |
1,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC ACCOUNTANT
NO. :
Mrs. Sumalee Sribioonreung No. 3146
BALANCE
SHEET [BAHT]
The latest financial figures published
as at December 31,
2014, 2013 &
2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
1,313,893.88 |
8,398,869.39 |
12,516,784.37 |
|
Trade Accounts Receivable
|
67,152,288.33 |
119,818,307.51 |
64,766,822.58 |
|
Inventories |
604,027,820.25 |
583,289,937.53 |
608,197,047.49 |
|
Other Current Assets
|
13,590,570.09 |
7,988,987.57 |
13,134,883.81 |
|
|
|
|
|
|
Total Current Assets
|
686,084,572.55 |
719,496,102.00 |
698,615,538.25 |
|
Fixed Assets |
51,061,074.85 |
62,213,765.76 |
64,830,334.94 |
|
Intangible Assets |
30,433.79 |
52,100.45 |
55,683.34 |
|
Other Non-current Assets |
493,463.32 |
550,438.32 |
2,750,523.16 |
|
Total Assets |
737,669,544.51 |
782,312,406.53 |
766,196,396.35 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft |
423,323.77 |
800,589.28 |
1,046,607.08 |
|
Loan Bank |
356,354,727.74 |
424,256,505.67 |
436,236,747.61 |
|
Trade Accounts Payable
|
46,730,959.69 |
69,074,706.04 |
62,775,023.78 |
|
Accrued Expenses |
3,340,265.57 |
5,881,392.94 |
5,737,933.32 |
|
Other Current Liabilities |
9,038,973.30 |
20,024,875.44 |
19,027,262.81 |
|
|
|
|
|
|
Total Current Liabilities |
415,888,250.07 |
520,038,069.37 |
524,823,574.60 |
|
Loan from Director & Affiliated Company |
127,900,000.00 |
75,900,000.00 |
69,500,000.00 |
|
Total Liabilities |
543,788,250.07 |
595,938,069.37 |
594,323,574.60 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 1,000,000 shares |
100,000,000.00 |
100,000,000.00 |
100,000,000.00 |
|
|
|
|
|
|
Capital Paid |
100,000,000.00 |
100,000,000.00 |
100,000,000.00 |
|
Retained Earnings: Appropriated - Statutory
Reserve |
7,500,000.00 |
7,500,000.00 |
7,500,000.00 |
|
Unappropriated |
86,381,294.44 |
78,784,337.16 |
64,372,821.75 |
|
Total Shareholders' Equity |
193,881,294.44 |
186,374,337.16 |
171,872,821.75 |
|
Total Liabilities &
Shareholders' Equity |
737,669,544.51 |
782,312,406.53 |
766,196,396.35 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
362,257,733.42 |
477,030,091.46 |
469,795,400.42 |
|
Other Income |
|
|
|
|
Gain on Exchange Rate |
- |
- |
14,056,658.24 |
|
Other |
1,069,197.67 |
1,011,816.09 |
1,011,120.97 |
|
Total Revenues |
363,326,931.09 |
478,041,907.55 |
484,863,179.63 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
273,797,385.54 |
377,086,497.90 |
381,800,041.55 |
|
Selling and Administrative Expenses |
60,201,039.31 |
62,857,813.04 |
62,335,127.45 |
|
Other Expenses |
|
|
|
|
Loss on Exchange Rate |
538,377.55 |
127,788.25 |
- |
|
Interest Expenses |
18,629,538.06 |
19,746,245.97 |
18,799,260.15 |
|
Total Expenses |
353,166,340.46 |
459,818,345.16 |
462,934,429.15 |
|
|
|
|
|
|
Profit before Income
Tax |
10,160,590.63 |
18,223,562.39 |
21,928,750.48 |
|
Income Tax |
[2,213,705.78] |
[3,722,046.98] |
[4,711,475.44] |
|
|
|
|
|
|
Net Profit / [Loss] |
7,946,884.85 |
14,501,515.41 |
17,217,275.04 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.65 |
1.38 |
1.33 |
|
QUICK RATIO |
TIMES |
0.16 |
0.25 |
0.15 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
7.09 |
7.67 |
7.25 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.49 |
0.61 |
0.61 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
805.23 |
564.59 |
581.44 |
|
INVENTORY TURNOVER |
TIMES |
0.45 |
0.65 |
0.63 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
67.66 |
91.68 |
50.32 |
|
RECEIVABLES TURNOVER |
TIMES |
5.39 |
3.98 |
7.25 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
62.30 |
66.86 |
60.01 |
|
CASH CONVERSION CYCLE |
DAYS |
810.59 |
589.41 |
571.74 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
75.58 |
79.05 |
81.27 |
|
SELLING & ADMINISTRATION |
% |
16.62 |
13.18 |
13.27 |
|
INTEREST |
% |
5.14 |
4.14 |
4.00 |
|
GROSS PROFIT MARGIN |
% |
24.71 |
21.16 |
21.94 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.80 |
3.82 |
4.67 |
|
NET PROFIT MARGIN |
% |
2.19 |
3.04 |
3.66 |
|
RETURN ON EQUITY |
% |
4.10 |
7.78 |
10.02 |
|
RETURN ON ASSET |
% |
1.08 |
1.85 |
2.25 |
|
EARNING PER SHARE |
BAHT |
7.95 |
14.50 |
17.22 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.74 |
0.76 |
0.78 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.80 |
3.20 |
3.46 |
|
TIME INTEREST EARNED |
TIMES |
0.55 |
0.92 |
1.17 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(24.06) |
1.54 |
|
|
OPERATING PROFIT |
% |
(44.24) |
(16.90) |
|
|
NET PROFIT |
% |
(45.20) |
(15.77) |
|
|
FIXED ASSETS |
% |
(17.93) |
(4.04) |
|
|
TOTAL ASSETS |
% |
(5.71) |
2.10 |
|
ANNUAL
GROWTH : RISKY
An annual sales growth is -24.06%. Turnover has decreased from THB
PROFITABILITY
: ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
24.71 |
Impressive |
Industrial Average |
4.74 |
|
Net Profit Margin |
2.19 |
Acceptable |
Industrial Average |
4.06 |
|
Return on Assets |
1.08 |
Deteriorated |
Industrial Average |
4.95 |
|
Return on Equity |
4.10 |
Deteriorated |
Industrial Average |
12.58 |
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 24.71%. 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 2.19%.
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 1.08%.
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 4.1%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY
: ACCEPTABLE
LIQUIDITY
RATIO
|
Current Ratio |
1.65 |
Impressive |
Industrial Average |
1.44 |
|
Quick Ratio |
0.16 |
|
|
|
|
Cash Conversion Cycle |
810.59 |
|
|
|
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 1.65 times in 2014, increased from 1.38 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 0.16 times in 2014,
decreased from 0.25 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 811 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE
: ACCEPTABLE
LEVERAGE
RATIO
|
Debt Ratio |
0.74 |
Impressive |
Industrial Average |
0.77 |
|
Debt to Equity Ratio |
2.80 |
Acceptable |
Industrial Average |
3.32 |
|
Times Interest Earned |
0.55 |
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 0.55 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 0.74 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
: SATISFACTORY
ACTIVITY
RATIO
|
Fixed Assets Turnover |
7.09 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.49 |
Deteriorated |
Industrial Average |
1.22 |
|
Inventory Conversion Period |
805.23 |
|
|
|
|
Inventory Turnover |
0.45 |
Deteriorated |
Industrial Average |
3.23 |
|
Receivables Conversion Period |
67.66 |
|
|
|
|
Receivables Turnover |
5.39 |
Impressive |
Industrial Average |
1.50 |
|
Payables Conversion Period |
62.30 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.39 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 565 days at the
end of 2013 to 805 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 0.65 times in year 2013 to 0.45 times
in year 2014.
The company's Total Asset Turnover is calculated as 0.49 times and 0.61
times in 2014 and 2013 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
|
Key Areas |
Score |
Weight |
Weighted Score |
|
LIQUIDITY RATIO |
1.33 |
25.00 |
33.25 |
|
ACTIVITY RATIO |
2.00 |
20.00 |
40.00 |
|
PROFITABILITY
RATIO |
1.33 |
25.00 |
33.25 |
|
LEVERAGE RATIO |
1.78 |
10.00 |
17.80 |
|
ANNUAL GROWTH |
- |
20.00 |
- |
|
Total Weight
(excluding - - Score) |
|
100.00 |
|
|
|
|
|
124.30 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.49 |
|
|
1 |
Rs. 99.43 |
|
Euro |
1 |
Rs. 69.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.