|
Report No. : |
334122 |
|
Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
CASHCOT INDUSTRIES PTE. LTD. |
|
|
|
|
Registered Office : |
30, Cecil Street, 19-08, Prudential Tower, 049712 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
31.12.2010 |
|
|
|
|
Com. Reg. No.: |
201027524-R |
|
|
|
|
Legal Form : |
Private Limited |
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|
|
|
Line of Business : |
Trading Of Cotton. |
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|
|
|
No. of Employee : |
5 [2015] |
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 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) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market
economy. It enjoys a remarkably open and corruption-free environment, stable
prices, and a per capita GDP higher than that of most developed countries.
Unemployment is very low. The economy depends heavily on exports, particularly
of consumer electronics, information technology products, medical and optical
devices, pharmaceuticals, and on its vibrant transportation, business, and
financial services sectors. The economy contracted 0.6% in 2009 as a result of
the global financial crisis, but has continued to grow since 2010 on the
strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a
result of soft demand for exports amid a sluggish global economy and weak
growth in Singapore’s manufacturing sector. The government is attempting to
restructure Singapore’s economy by weaning its dependence on foreign labor,
addressing weak productivity, and increasing Singaporean wages. Singapore has
attracted major investments in pharmaceuticals and medical technology
production and will continue efforts to strengthen its position as Southeast
Asia's leading financial and high-tech hub. Singapore is a member of the
12-nation Trans-Pacific Partnership free trade negotiations, the Regional
Comprehensive Economic Partnership negotiations with the nine other ASEAN
members plus Australia, China, India, Japan, South Korea and New Zealand, and
in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic
Community.
|
Source
: CIA |
EXECUTIVE
SUMMARY
HISTORY
/ BACKGROUND
The Subject is a
private limited company and is allowed to have a minimum of one and a maximum
of forty-nine shareholders. As a private limited company, the Subject must
have at least two directors. A private limited company is a separate legal
entity from its shareholders. As a separate legal entity, the Subject is
capable of owning assets, entering into contracts, sue or be sued by other
companies. The liabilities of the shareholders are to the extent of the
equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the Subject is insolvent. The Subject is governed by
the Companies Act and the company must file its annual returns, together with
its financial statements with the Registrar of Companies. The Subject is
principally engaged in the (as a / as an) trading of cotton. The ultimate
holding company of the Subject is BHADRESH TRADING CORPORATION LIMITED, a
company incorporated in INDIA. Share Capital
History
The major
shareholder(s) of the Subject are shown as follows : Current
Shareholder(s) :
+ Also Director DIRECTORS
DIRECTOR 1
DIRECTOR 2
DIRECTOR 3
MANAGEMENT
AUDITOR
COMPANY
SECRETARIES
BANKING
ENCUMBRANCE
(S)
LITIGATION
CHECK AGAINST SUBJECT
PAYMENT
RECORD
CLIENTELE
OPERATIONS
Other
Information:
CURRENT
INVESTIGATION
Latest fresh
investigations carried out on the Subject indicated that :
Other
Investigations
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2012 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
10.58% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
15.83% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The Subject's management have been
efficient in controlling its operating costs. The Subject's management had
generated acceptable return for its shareholders using its assets. |
||||||
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|
|
|
|
|
|
|
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Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
28 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
|
|
|
|
|
|
|
|
As the Subject is a service oriented company, the Subject does not
need to keep stocks. The favourable debtors' days could be due to the good
credit control measures implemented by the Subject. The Subject had a
favourable creditors' ratio where the Subject could be taking advantage of
the cash discounts and also wanting to maintain goodwill with its
creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.77 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.77 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations
and the Subject was in a good liquidity position. Thus, we believe the
Subject is able to meet all its short term obligations as and when they
fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Acceptable |
[ |
3.56 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.40 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was slightly low. If there is no sharp
fall in its profit or sudden increase in the interest rates, we believe the
Subject is able to generate sufficient income to service its interest and
repay the loans. The Subject was lowly geared thus it had a low financial
risk. The Subject was mainly financed by its shareholders' funds and
internally generated funds. In times of economic slowdown / downturn, the
Subject being a lowly geared company, will be able to compete better than those
companies which are highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
Although the turnover was erratic, the Subject had maintained a
steady growth in its profit. This indicate the management's efficiency in
controlling its costs and profitability. The Subject was in good liquidity
position with its total current liabilities well covered by its total
current assets. With its current net assets, the Subject should be able to
repay its short term obligations. The Subject had an acceptable interest
cover. If there is no sudden sharp increase in interest rate or fall in the
Subject's profit, we do believe the Subject is able to generate sufficient
cash flow to service its interest payment. The Subject as a lowly geared
company, will be more secured compared to those highly geared companies. It
has the ability to meet all its long term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the
Subject : STABLE |
||||||
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|
|
|
|
|
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|
|
|
|
|
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|
|
|
|
|
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
The wholesale and retail trade sectors have expanded by 2.0% in the
third quarter of 2014, extending the 1.8 per cent growth in the previous
quarter. In 2013, the wholesale and retail sector expanded by 5.0%, after
declining by 1.4% the year before. Growth of the sector was driven by the
wholesale trade segment. |
|
|
|
|
|
The domestic wholesale trade index has increased by 3.2% in the fourth
quarter of 2013, moderating from the 6.6% growth in the previous quarter.
The slower growth was due to a decline in the sales of furniture and
household equipment (-12%) and petroleum and petroleum products (-0.6%).
For the full year, the domestic wholesale trade index grew by 5.2%
reversing the 2.2% decline in 2012. On the other hand, the foreign
wholesale trade index has increased by a slower pace of 5.6% in the fourth
quarter, compared to the 7.7% expansion in the preceding quarter. The
slowdown was due to a fall in the sales of telecommunication equipment and
computer (-3.8%) and petroleum and petroleum products (-2.5%). For the full
year, the growth of the foreign wholesale trade index moderated slightly to
8.6% from 9.1% in the previous year. |
|
|
|
|
|
In the fourth quarter of 2013, retail sales volume fell by 6.2%,
extending the 5.6% decline in the previous quarter. Excluding motor
vehicles, retail sales volume increased by 0.4%, a slower pace of expansion
as compared to the 1.6% gain in the preceding quarter. The sales volume of
motor vehicles fell by 33% in the fourth quarter of 2013, extending the 32%
decline in the previous quarter. Meanwhile, the sales of several
discretionary items also fell in the fourth quarter of 2013. For instance,
the sales of telecommunications apparatus and computers fell by 12%, while
the sales of furniture and household equipment declined by 5.4%. |
|
|
|
|
|
For the full year, retail sales volume contracted by 4.3%, a reversal
from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail
sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012.
Watches and jewellery recorded the largest increase (11%) in sales in 2013,
followed by optical goods and book (3%) and medical goods and toiletries
(3%). By contrast, the sales of telecommunications apparatus and computer
(-7.3%), furniture and household equipment (-4.2%) and petrol service
stations (-1.4) declined in 2013. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
12 |
15 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
|
|
|
|
|
TURNOVER |
118,802,749 |
99,418,976 |
123,693,034 |
|
|
---------------- |
---------------- |
---------------- |
|
Total Turnover |
118,802,749 |
99,418,976 |
123,693,034 |
|
Costs of Goods Sold |
(115,346,359) |
(96,119,551) |
(121,482,884) |
|
|
---------------- |
---------------- |
---------------- |
|
Gross Profit |
3,456,390 |
3,299,425 |
2,210,150 |
|
|
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,273,936 |
1,096,404 |
1,183,597 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
1,273,936 |
1,096,404 |
1,183,597 |
|
Taxation |
(90,857) |
(266,700) |
(119,000) |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
1,183,079 |
829,704 |
1,064,597 |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
As previously reported |
1,894,301 |
1,064,597 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
As restated |
1,894,301 |
1,064,597 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
3,077,380 |
1,894,301 |
1,064,597 |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
3,077,380 |
1,894,301 |
1,064,597 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
Term loan / Borrowing |
497,410 |
576,248 |
192,414 |
|
Others |
- |
- |
356,210 |
|
|
---------------- |
---------------- |
---------------- |
|
|
497,410 |
576,248 |
548,624 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
Stocks |
- |
1,237,347 |
- |
|
Trade debtors |
9,181,570 |
14,998,669 |
23,605,056 |
|
Other debtors, deposits & prepayments |
4,538,227 |
1,324,777 |
625,405 |
|
Short term deposits |
300,000 |
2,814,502 |
1,296,317 |
|
Loans & advances - current portion |
10,322,041 |
- |
- |
|
Amount due from holding company |
- |
- |
1,139,759 |
|
Cash & bank balances |
1,291,175 |
751,374 |
385,393 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
25,633,013 |
21,126,669 |
27,051,930 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
25,633,013 |
21,126,669 |
27,051,930 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
Other creditors & accruals |
656,181 |
1,119,715 |
257,200 |
|
Bill & acceptances payable |
4,469,790 |
3,590,190 |
19,551,133 |
|
Amounts owing to holding company |
8,273,046 |
5,505,803 |
- |
|
Amounts owing to related companies |
725,960 |
730,960 |
1,060,000 |
|
Provision for taxation |
320,656 |
385,700 |
119,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
14,445,633 |
11,332,368 |
20,987,333 |
|
|
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
11,187,380 |
9,794,301 |
6,064,597 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
11,187,380 |
9,794,301 |
6,064,597 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
Ordinary share capital |
8,110,000 |
7,900,000 |
5,000,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
8,110,000 |
7,900,000 |
5,000,000 |
|
|
|
|
|
|
Retained profit/(loss) carried forward |
3,077,380 |
1,894,301 |
1,064,597 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
3,077,380 |
1,894,301 |
1,064,597 |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
11,187,380 |
9,794,301 |
6,064,597 |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
|
11,187,380 |
9,794,301 |
6,064,597 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
TYPES OF FUNDS |
|
|
|
|
Cash |
1,591,175 |
3,565,876 |
1,681,710 |
|
Net Liquid Funds |
(2,878,615) |
(24,314) |
(17,869,423) |
|
Net Liquid Assets |
11,187,380 |
8,556,954 |
6,064,597 |
|
Net Current Assets/(Liabilities) |
11,187,380 |
9,794,301 |
6,064,597 |
|
Net Tangible Assets |
11,187,380 |
9,794,301 |
6,064,597 |
|
Net Monetary Assets |
11,187,380 |
8,556,954 |
6,064,597 |
|
PROFIT & LOSS ITEMS |
|
|
|
|
Earnings Before Interest & Tax (EBIT) |
1,771,346 |
1,672,652 |
1,732,221 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
1,771,346 |
1,672,652 |
1,732,221 |
|
BALANCE SHEET ITEMS |
|
|
|
|
Total Borrowings |
4,469,790 |
3,590,190 |
19,551,133 |
|
Total Liabilities |
14,445,633 |
11,332,368 |
20,987,333 |
|
Total Assets |
25,633,013 |
21,126,669 |
27,051,930 |
|
Net Assets |
11,187,380 |
9,794,301 |
6,064,597 |
|
Net Assets Backing |
11,187,380 |
9,794,301 |
6,064,597 |
|
Shareholders' Funds |
11,187,380 |
9,794,301 |
6,064,597 |
|
Total Share Capital |
8,110,000 |
7,900,000 |
5,000,000 |
|
Total Reserves |
3,077,380 |
1,894,301 |
1,064,597 |
|
LIQUIDITY (Times) |
|
|
|
|
Cash Ratio |
0.11 |
0.31 |
0.08 |
|
Liquid Ratio |
1.77 |
1.76 |
1.29 |
|
Current Ratio |
1.77 |
1.86 |
1.29 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
Stock Ratio |
0 |
5 |
0 |
|
Debtors Ratio |
28 |
55 |
70 |
|
Creditors Ratio |
0 |
0 |
0 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
Gearing Ratio |
0.40 |
0.37 |
3.22 |
|
Liabilities Ratio |
1.29 |
1.16 |
3.46 |
|
Times Interest Earned Ratio |
3.56 |
2.90 |
3.16 |
|
Assets Backing Ratio |
1.38 |
1.24 |
1.21 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
Operating Profit Margin |
1.07 |
1.10 |
0.96 |
|
Net Profit Margin |
1.00 |
0.83 |
0.86 |
|
Return On Net Assets |
15.83 |
17.08 |
28.56 |
|
Return On Capital Employed |
15.83 |
17.08 |
28.56 |
|
Return On Shareholders' Funds/Equity |
10.58 |
8.47 |
17.55 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
|
1 |
Rs.99.71 |
|
Euro |
1 |
Rs.70.63 |
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.