MIRA INFORM REPORT
|
Report No. : |
325317 |
|
Report Date : |
05.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
RECKITT BENCKISER [THAILAND] LIMITED |
|
|
|
|
Registered Office : |
14th Floor, K Tower, 209 Sukhumvit 21 Road, Klongtoeynua, Wattana, Bangkok 10110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
25.11.1983 |
|
|
|
|
Com. Reg. No.: |
0105526049522 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The
subject is engaged in
international trading business,
including import, distribute
and export wide range of consumer goods, household cleaning products,
health and personal care
products. |
|
|
|
|
No. of Employees : |
300 |
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 |
|
|
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
RECKITT
BENCKISER [THAILAND] LIMITED
SUMMARY
BUSINESS
ADDRESS : 14th FLOOR,
K TOWER,
209 SUKHUMVIT
21 ROAD, KLONGTOEYNUA,
WATTANA, BANGKOK
10110, THAILAND
TELEPHONE : [66] 2685-2100,
2664-0999
FAX :
[66] 2664-0902-3
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1983
REGISTRATION
NO. : 0105526049522
TAX
ID NO. : 3101298772
CAPITAL REGISTERED : BHT. 503,610,000
CAPITAL PAID-UP : BHT.
503,610,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. REAZUL HAQUE CHOWDHURY, BANGLADESHI
GENERAL MANAGER
NO.
OF STAFF : 300
LINES
OF BUSINESS : INTERNATIONAL TRADING
COMPANY
IMPORTER, DISTRIBUTOR
AND 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 November 25,
1983 as a
private limited company
under the originally
registered name “Reckitt & Colman [Thailand] Ltd.” by
multi-national groups. On May 18, 2000, subject’s name was changed
to RECKITT BENCKISER [THAILAND]
LIMITED. Its objective is
to import, distribute
and export wide range
of consumer goods
and health products.
It currently employs
approximately 300 staff.
Subject
is a wholly
owned subsidiary of
Reckitt Benckiser Holding
[Thailand] Limited.
The subject’s registered address is 14th
Flr., K Tower, 209 Sukhumvit 21 Rd.,
Klongtoeynua, Wattana, Bangkok
10110, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Rahul Mathur |
|
Indian |
36 |
|
Mr. Reazul Haque Chowdhury |
|
Bangladeshi |
49 |
|
Ms. Piengchit Sriprasart |
|
Thai |
42 |
|
Mr. Chander Mohan Sethi |
|
Indian |
66 |
AUTHORIZED PERSON
Any two of
the above directors can jointly
sign on behalf
of the subject
with
company’s affixed.
MANAGEMENT
Mr. Reazul Haque Chowdhury
is the General
Manager.
He is Bangladeshi
nationality with the
age of 49
years old.
Mr. Kevin Harshow is
the Marketing Manager.
He is British
nationality.
Mr. Ashish Gupta
is the Commercial
Manager.
He is Indian
nationality.
Mr. Chalermchai Theerakul is
the Sales Director.
He is Thai
nationality.
Mr. Muksitul Isalim is
the Marketing Manager [Personal Care].
He is Thai
nationality.
Ms. Chitsai Sukkaew is
the Marketing Manager [Health Care].
She is Thai
nationality.
Ms. Wanpen Ketchanchai is
the Senior Brand
Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The
subject is engaged in
international trading business,
including import, distribute
and export wide range of consumer goods, household cleaning products,
health and personal care
products, such as “SHIELDTOX” pest controls, “DETTOL” antiseptic
products, “STREPSILS” lozenge products,
“VANISH” fabric treatment,
“GAVISCON” pharmaceutical, “DUREX”
condoms, “SENOKOT” stimulant
laxative, “MUCINEX” medicines,
“VEET” personal cares,
“EASY OF BANG”
power cleaner.
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas, mainly U.K.,
Pakistan, India, Indonesia,
Spain and Republic
of China.
MAJOR SUPPLIERS
Reckitt Benckiser Healthcare
Manufacturing [Thailand] Ltd. : Thailand
Reckitt Benckiser Healthcare
[Thailand] Ltd. : Thailand
Reckitt & Colman of Pakistan
Ltd. : Pakistan
Reckitt Benkiser Healthcare
Ltd. : U.K.
Reckitt Benckiser [U.K.]
Ltd. : U.K.
Farmasierra S.A. : Spain
SALES
The products are
sold by wholesale
to traders both
local and overseas
in Malaysia, Singapore, Vietnam, Australia, Hong
Kong, Japan, Taiwan,
Philippines, Norway, Indonesia,
Republic of China,
India, Myanmar, Cambodia,
Laos and New
Zealand.
SUBSIDIARY AND
AFFILIATED COMPANIES
Reckitt Benckiser Healthcare
[Thailand] Ltd.
Business Type :
Manufacturer &
distributor of healthcare
products
Reckitt Benckiser Healthcare
Manufacturing [Thailand] Ltd.
Business Type :
Manufacturer of consumer
products
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
Citibank NA.
Kasikornbank Public Co.,
Ltd.
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately
300 staff.
LOCATION DETAILS
The
premise is rented
for administrative office at
the heading address.
Premise is located
in a prime
commercial area.
COMMENT
The
subject’s business performance
was slowdown in the previous
years caused by
shrinking consumers’ spending.
Economy sluggish has
resulted to decreased the
subject’s sales revenue
in the previous
years.
Consumer
market remains slow
in accordance with
slow improvement of
the country’s economy.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 20,000
shares of Bht. 100
each.
The
capital was increased/decreased later
as following:
Bht. 4,000,000 on
December 28, 1998
Bht. 102,440,000 on
May 18, 2000
Bht. 25,610,000 on
April 2, 2004
[decreased]
Bht. 503,610,000 on
November 8, 2011
[increased]
The
latest registered capital
was increased to
Bht. 503,610,000 divided
into 5,036,100 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE
[as
at April 30,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Reckitt
Benckiser Holding [Thailand]
Limited Nationality: Thai Address : 209
Sukhumvit 21 Rd.,
Klongtoeynua,
Wattana, Bangkok |
5,036,090 |
100.00 |
|
Mr. Prapas Sakunwat Nationality: Thai Address : 41/13
Ploenchit Rd., Lumpini,
Pathumwan, Bangkok |
3 |
- |
|
Mr. Peeranand Poolsawad Nationality: Thai Address : 48/123-124
Isaraphap Rd., Wadthaphra,
Bangkokyai, Bangkok |
3 |
- |
|
Ms. Duangduan Na Nan Nationality: Thai Address : 96/4
Soi Noppaklao, Bangsue,
Bangkok |
1 |
- |
|
Mr. Udomchai Leesin Nationality: Thai Address : 81/110
Moo 6, Sukhumvit
Rd., Suanluang, Bangkok |
1 |
- |
|
Mr. Ekapol Apinand Nationality: Thai Address : 65/71
Pracharaj 1 Rd.,
Bangsue, Bangkok |
1 |
- |
|
Mr. Itthipol Saengsawang Nationality: Thai Address : 21/67
Sukhumvit 62 Rd.,
Bangchak,
Prakanong, Bangkok |
1 |
- |
Total Shareholders : 7
Share Structure
[as at April
30, 2014]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
5,036,100 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
5,036,100 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Paiboon Tankul No.
3445
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 |
317,097,991 |
262,617,680 |
105,865,282 |
|
Trade Accounts & Other Receivable |
516,766,645 |
480,626,529 |
536,970,414 |
|
Inventories |
228,001,833 |
199,897,966 |
245,125,675 |
|
Investment in Subsidiaries |
- |
14,500,000 |
1,450,000,000 |
|
Long-term Lending to Related
Company |
962,655,408 |
508,769,178 |
- |
|
Deferred Value Added Tax |
17,278,617 |
18,897,975 |
16,977,888 |
|
Other Current Assets
|
2,889,590 |
509,366 |
2,656,714 |
|
|
|
|
|
|
Total Current Assets
|
2,044,690,084 |
1,485,818,694 |
2,357,595,973 |
|
|
|
|
|
|
Fixed Assets |
5,108,785 |
5,663,097 |
2,927,304 |
|
Intangible Assets |
734,524 |
138,159 |
- |
|
Deposit |
7,995,230 |
4,299,650 |
1,660,300 |
|
Total Assets |
2,058,528,623 |
1,495,919,600 |
2,362,183,577 |
LIABILITIES & SHAREHOLDERS’
EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Accounts & Other Payable
|
1,033,500,200 |
743,100,646 |
601,028,995 |
|
Loan from Related Company |
813,511,012 |
764,734,348 |
934,287,339 |
|
Accrued Income Tax |
- |
43,332,395 |
5,364,503 |
|
Accrued Expenses |
340,944,599 |
423,792,940 |
322,194,508 |
|
Other Current Liabilities |
11,729,603 |
20,028,919 |
19,524,698 |
|
|
|
|
|
|
Total Current Liabilities |
2,199,685,414 |
1,994,989,248 |
1,882,400,043 |
|
|
|
|
|
|
Employee Benefits Obligation |
27,283,942 |
15,341,835 |
5,839,411 |
|
Total Liabilities |
2,226,969,356 |
2,010,331,083 |
1,888,239,454 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 5,036,100 shares |
503,610,000 |
503,610,000 |
503,610,000 |
|
|
|
|
|
|
Capital Paid |
503,610,000 |
503,610,000 |
503,610,000 |
|
Deficit from Business
Merger under the Same
Control |
[1,167,178,760] |
[1,167,178,760] |
- |
|
Retained Earnings: Appropriated for statutory reserve |
10,244,000 |
10,244,000 |
10,244,000 |
|
Unappropriated |
484,884,027 |
138,913,277 |
[39,909,877] |
|
Total Shareholders' Equity |
[168,440,733] |
[514,411,483] |
473,944,123 |
|
Total Liabilities & Shareholders' Equity |
2,058,528,623 |
1,495,919,600 |
2,362,183,577 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
3,504,364,500 |
2,930,998,232 |
1,958,897,053 |
|
Service Income |
- |
- |
31,678,660 |
|
Other Income |
46,927,012 |
1,441,002,093 |
337,268 |
|
Total Revenues |
3,551,291,512 |
4,372,000,325 |
1,990,912,981 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,492,449,981 |
1,350,707,025 |
987,887,530 |
|
Selling Expenses |
1,010,515,060 |
805,740,294 |
571,300,071 |
|
Administrative Expenses |
621,875,408 |
478,341,824 |
351,370,424 |
|
Other Expenses |
18,404,134 |
1,435,625,644 |
4,024,939 |
|
Total Expenses |
3,143,244,583 |
4,070,414,787 |
1,914,582,964 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
408,046,929 |
301,585,538 |
76,330,017 |
|
Financial Cost |
[62,076,179] |
[67,713,824] |
[16,366,771] |
|
Profit / [Loss] before Income Tax |
345,970,750 |
233,871,714 |
59,963,246 |
|
Income Tax |
- |
[55,048,560] |
[22,523,177] |
|
|
|
|
|
|
Net Profit / [Loss] |
345,970,750 |
178,823,154 |
37,440,069 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.93 |
0.74 |
1.25 |
|
QUICK RATIO |
TIMES |
0.38 |
0.37 |
0.34 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
685.95 |
517.56 |
680.00 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.70 |
1.96 |
0.84 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
55.76 |
54.02 |
90.57 |
|
INVENTORY TURNOVER |
TIMES |
6.55 |
6.76 |
4.03 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
53.82 |
59.85 |
98.46 |
|
RECEIVABLES TURNOVER |
TIMES |
6.78 |
6.10 |
3.71 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
252.76 |
200.81 |
222.07 |
|
CASH CONVERSION CYCLE |
DAYS |
(143.17) |
(86.94) |
(33.04) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
42.59 |
46.08 |
49.63 |
|
SELLING & ADMINISTRATION |
% |
46.58 |
43.81 |
46.35 |
|
INTEREST |
% |
1.77 |
2.31 |
0.82 |
|
GROSS PROFIT MARGIN |
% |
58.75 |
103.08 |
50.39 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
11.64 |
10.29 |
3.83 |
|
NET PROFIT MARGIN |
% |
9.87 |
6.10 |
1.88 |
|
RETURN ON EQUITY |
% |
- |
- |
7.90 |
|
RETURN ON ASSET |
% |
16.81 |
11.95 |
1.58 |
|
EARNING PER SHARE |
BAHT |
68.70 |
35.51 |
7.43 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
1.08 |
1.34 |
0.80 |
|
DEBT TO EQUITY RATIO |
TIMES |
(13.22) |
(3.91) |
3.98 |
|
TIME INTEREST EARNED |
TIMES |
6.57 |
4.45 |
4.66 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
19.56 |
47.24 |
|
|
OPERATING PROFIT |
% |
35.30 |
295.11 |
|
|
NET PROFIT |
% |
93.47 |
377.63 |
|
|
FIXED ASSETS |
% |
(9.79) |
93.46 |
|
|
TOTAL ASSETS |
% |
37.61 |
(36.67) |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 19.56%. Turnover has increased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
58.75 |
Deteriorated |
Industrial
Average |
153.36 |
|
Net Profit Margin |
9.87 |
Impressive |
Industrial
Average |
3.66 |
|
Return on Assets |
16.81 |
Impressive |
Industrial
Average |
8.51 |
|
Return on Equity |
- |
|
Industrial
Average |
21.17 |
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 58.75%. 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 9.87%, 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 16.81%, 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 |
0.93 |
Risky |
Industrial
Average |
1.57 |
|
Quick Ratio |
0.38 |
|
|
|
|
Cash Conversion Cycle |
(143.17) |
|
|
|
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 0.93 times in 2013, increased from 0.74 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 0.38 times in 2013,
increased from 0.37 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 -144 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
1.08 |
Risky |
Industrial Average |
0.59 |
|
Debt to Equity Ratio |
(13.22) |
Risky |
Industrial Average |
1.42 |
|
Times Interest Earned |
6.57 |
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 6.58 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 1.08 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
685.95 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.70 |
Acceptable |
Industrial
Average |
2.33 |
|
Inventory Conversion Period |
55.76 |
|
|
|
|
Inventory Turnover |
6.55 |
Impressive |
Industrial
Average |
5.91 |
|
Receivables Conversion Period |
53.82 |
|
|
|
|
Receivables Turnover |
6.78 |
Impressive |
Industrial
Average |
3.29 |
|
Payables Conversion Period |
252.76 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.78 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 54 days at the
end of 2012 to 56 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 6.76 times in year 2012 to 6.55 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.7 times and 1.96
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.18 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
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.