MIRA INFORM REPORT
|
Report No. : |
327548 |
|
Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
FENATEX CO., LTD. |
|
|
|
|
Registered Office : |
9th Floor, Fico Place Building, 18/8 Sukhumvit, 21 Road, [Asoke] Klongtoeynua, Wattana, Bangkok 10110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
18.12.2006 |
|
|
|
|
Com. Reg. No.: |
0105549145447 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, distributor and exporter of
yarns and fabric. |
|
|
|
|
No. of Employees : |
200 |
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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 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 |
SUMMARY
BUSINESS
ADDRESS : 9th FLOOR,
FICO PLACE BUILDING,
18/8 SUKHUMVIT
21 ROAD, [ASOKE],
KLONGTOEYNUA, WATTANA,
BANGKOK 10110,
THAILAND
TELEPHONE : [66] 2654-6999
FAX :
[66] 2654-6902-3
E-MAIL
ADDRESS : inquiry@fenatex.net
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2006
REGISTRATION
NO. : 0105549145447
TAX
ID NO. : 3032467759
CAPITAL REGISTERED : BHT. 100,000,000
CAPITAL PAID-UP : BHT.
100,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. AKARADEJ SRICHAWLA,
THAI
PRESIDENT
NO.
OF STAFF : 200
LINES
OF BUSINESS : YARNS
AND FABRIC
MANUFACTURER, 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 December 18,
2006 as a
private limited company under
the originally registered
name “Fenatex International
2006 Co., Ltd.” by
Thai groups. On May 28,
2007, the subject’s name was
changed to FENATEX CO., LTD. Its business
objective is to
manufacture fabric and
yarn products to
both domestic and
international markets. It
currently employs approximately
200 staff.
The
subject is a
member of Fico
group of companies,
which are engaged
in textile business.
The
subject’s registered address
is 9th Flr.,
Fico Place Bldg.,
18/8 Sukhumvit 21
Rd., Klongtoeynua, Wattana,
Bangkok 10110, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Krit Srichawla |
|
Thai |
38 |
|
Mr. Theprit Srichawla |
|
Thai |
58 |
|
Mr. Akaradej Srichawla |
|
Thai |
61 |
|
Mr. Amorn Srichawla |
|
Thai |
44 |
AUTHORIZED
PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Akaradej Srichawla is
the President.
He is Thai
nationality with the
age of 61 years
old.
Mr. Rajeev Mathur is
the Chief Executive
Officer.
He is Indian
nationality.
Mr. Ashwani Choudhary is
the VP Marketing & Business Development [Export].
He is Indian
nationality.
Mr. Krit Srichawla is
the Managing Director.
He is Thai
nationality with the
age of 38
years old.
Mr. Subrata Sinha is
the Products & Marketing Manager.
He is Indian
nationality.
Mr. Navendra Chauhan is
the Factory Manager.
He is Thai
nationality.
Mr. Kriengkrai Tangsirisatien is
the Warehouse Manager.
He is Thai
nationality.
Ms. Kamala Klomwattana is
the Account & Financial Manager.
She is Thai
nationality.
BUSINESS
OPERATIONS
The subject is engaged in
textile business, to
produce and distribute
wide range of
synthetic fabrics and
yarns, which are
divided into 3
main products as
follows:
- Embroidery
Yarn
-
Schiffi
front yarn
-
Schiffi
back yarn
-
Fancy yarn
-
Multi-colors
yarn
- Textile
Yarn
-
Nylon
filament yarn
-
Polyester
yarn
-
Spandex yarn
- Fabrics
- Woven/knitted fabrics
for embroidery production
BRAND
NAME
“FICOFIL”
PRODUCTION
CAPACITY
100 metric tons
per month
PURCHASE
Most of raw
materials are purchased
from local suppliers,
the remaining are
imported from Japan,
Germany, India, Australia,
Taiwan and Republic
of China.
MAJOR
SUPPLIER
Fico
Corporation Ltd. :
Thailand
SALES
80% of the
products is sold
locally by wholesale
to traders, manufacturers
and end-users, the
remaining 20% is
exported to customers
in more than
30 countries, such
as India, Republic of China, Korea, Vietnam, Philippines,
Indonesia, Japan, U.S.A., Brazil,
Argentina, Guatemala, Ecuador,
Poland, Italy, Egypt,
Kenya, Iran, Pakistan, Sri Lanka, Portugal, Morocco,
United Kingdom, Middle
East and European
countries.
RELATED
AND AFFILIATED COMPANIES
Fico Corporation Co.,
Ltd.
Business Type :
Importer and distributor
of embroidery machines
Setafil [Thailand] Ltd.
Business Type :
Manufacturer of embroidery
yarn
Gemini Textile Co., Ltd.
Business Type :
Manufacturer of yarn
Gamma Textile Co.,
Ltd.
Business Type :
Manufacturer of embroidery
yarn
Bischoff Gamma Co.,
Ltd.
Business Type :
Manufacturer of textiles
and garment
Eschler Thai Knit
Co., Ltd.
Business Type :
Manufacturer of garment
Gamma Knit [Thailand]
Co., Ltd.
Business Type :
Manufacturer of garment
Kyra Mod Co., Ltd.
Business Type :
Manufacturer of fashion
lingerie
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
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
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately
200 staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a prime
commercial area.
Factory
is located at 149/196
Moo 3, Petchkasem Rd.,
Omnoi, Krathumban, Samutsakorn
74130.
Tel.: [66] 2431-0422-3
Fax. : [66] 2431-0445.
China
office : Room 8014
Yigao Chuangye Building,
No. 29 Huangushan Rd.,
Hangzhou 310012,
Republic of China.
COMMENT
Subject has good business performance during the past
several years. However, consumption
slowdown from economic
uncertainties had decreased
demand of such
products in 2013.
However, in line with
the financial crisis
in 2013 in many countries,
the global textile
industry has witnessed
a downtrend.
The
subject is able
to maintain a
strong business.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each.
On May
2, 2007, the
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 30, 2014]
|
NAME |
HOLDING |
% |
|
Mr. Krit Srichawla Nationality: Thai Address : 361/1
Sukhumvit 71 Rd.,
Prakanongnua, Wattana, Bangkok
|
250,000 |
25.00 |
|
Mr. Akaradej Srichawla Nationality: Thai Address : 335
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
200,000 |
20.00 |
|
Mr. Amorn Srichawla Nationality: Thai Address : 361/1
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
200,000 |
20.00 |
|
Mr. Theprit Srichawla Nationality: Thai Address : 361/1
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
200,000 |
20.00 |
|
Mrs. Kiranjaspal Srichawla Nationality: Thai Address : 361/1
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
50,000 |
5.00 |
|
Mrs. Panita Srichawla Nationality: Thai Address : 361/1
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
50,000 |
5.00 |
|
Mrs. Suchada Srichawla Nationality: Thai Address : 361/1
Sukhumvit 71 Rd.,
Prakanongnua,
Wattana, Bangkok |
50,000 |
5.00 |
Total Shareholders : 7
Share
Structure
[As at
April 30, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
1,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
1,000,000 |
100.00 |
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO. :
Mr. Mangkorn Karnchanasai No. 3467
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 |
184,361.72 |
182,373.28 |
104,579.09 |
|
Trade Accounts & Other Receivable |
633,296,695.05 |
504,907,405.01 |
449,514,845.91 |
|
Inventories |
167,723,418.07 |
158,331,699.40 |
94,116,549.44 |
|
Other Current Assets |
179,094,250.72 |
151,748,847.01 |
122,863,423.85 |
|
|
|
|
|
|
Total Current Assets
|
980,298,725.56 |
815,170,324.70 |
666,599,398.29 |
|
Cash at Bank pledged as a Collateral
|
40,749,243.77 |
35,750,000.00 |
23,000,000.00 |
|
Long-term Lending to Person or
Related Company |
33,630,000.00 |
33,521,666.63 |
16,858,333.33 |
|
Fixed Assets |
6,595,826.16 |
5,246,544.76 |
4,497,153.04 |
|
Other Non-current Assets |
- |
653,112.0 |
- |
|
Total Assets |
1,061,273,795.49 |
890,341,648.09 |
710,954,884.66 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft from Financial Institutions |
37,441,435.24 |
6,901,909.46 |
21,710,377.94 |
|
Trade Accounts & Other Payable |
126,022,500.97 |
72,005,405.59 |
48,083,747.53 |
|
Short-term Loan from Financial Institutions |
533,399,167.76 |
468,618,632.05 |
398,676,293.60 |
|
Accrued Income Tax |
1,754,955.89 |
3,427,241.15 |
2,277,526.60 |
|
Other Current Liabilities |
201,121,918.64 |
189,853,066.24 |
105,705,520.36 |
|
|
|
|
|
|
Total Current Liabilities |
899,739,978.50 |
740,806,254.49 |
576,453,466.03 |
|
Total Liabilities |
899,739,978.50 |
740,806,254.49 |
576,453,466.03 |
|
|
|
|
|
|
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 Earning [Deficit] |
61,533,816.99 |
49,535,393.60 |
34,501,418.63 |
|
Total Shareholders' Equity |
161,533,816.99 |
149,535,393.60 |
134,501,418.63 |
|
Total Liabilities &
Shareholders' Equity |
1,061,273,795.49 |
890,341,648.09 |
710,954,884.66 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
2,186,272,447.49 |
2,346,418,340.64 |
2,158,940,537.86 |
|
Other Income |
10,812,755.37 |
22,142,467.11 |
10,654,285.20 |
|
Total Revenues |
2,197,085,202.86 |
2,368,560,807.75 |
2,169,594,823.06 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
2,078,005,847.75 |
2,219,717,043.70 |
2,036,525,906.15 |
|
Selling and Administrative Expenses |
90,135,798.49 |
116,714,450.86 |
111,007,100.57 |
|
Total Expenses |
2,168,141,646.24 |
2,336,431,494.56 |
2,147,533,006.72 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income Tax |
28,943,556.62 |
32,129,313.19 |
22,061,816.34 |
|
Financial Cost |
[13,234,171.08] |
[11,538,018.03] |
[7,851,777.03] |
|
Profit / [Loss] before Income Tax |
15,709,385.54 |
20,591,295.16 |
14,210,039.31 |
|
Income Tax |
[3,710,962.15] |
[5,557,320.19] |
[4,378,802.32] |
|
|
|
|
|
|
Net Profit / [Loss] |
11,998,423.39 |
15,033,974.97 |
9,831,236.99 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.09 |
1.10 |
1.16 |
|
QUICK RATIO |
TIMES |
0.70 |
0.68 |
0.78 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
331.46 |
447.23 |
480.07 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.06 |
2.64 |
3.04 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
29.46 |
26.04 |
16.87 |
|
INVENTORY TURNOVER |
TIMES |
12.39 |
14.02 |
21.64 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
105.73 |
78.54 |
76.00 |
|
RECEIVABLES TURNOVER |
TIMES |
3.45 |
4.65 |
4.80 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
22.14 |
11.84 |
8.62 |
|
CASH CONVERSION CYCLE |
DAYS |
113.05 |
92.74 |
84.25 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
95.05 |
94.60 |
94.33 |
|
SELLING & ADMINISTRATION |
% |
4.12 |
4.97 |
5.14 |
|
INTEREST |
% |
0.61 |
0.49 |
0.36 |
|
GROSS PROFIT MARGIN |
% |
5.45 |
6.34 |
6.16 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.32 |
1.37 |
1.02 |
|
NET PROFIT MARGIN |
% |
0.55 |
0.64 |
0.46 |
|
RETURN ON EQUITY |
% |
7.43 |
10.05 |
7.31 |
|
RETURN ON ASSET |
% |
1.13 |
1.69 |
1.38 |
|
EARNING PER SHARE |
BAHT |
12.00 |
15.03 |
9.83 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.85 |
0.83 |
0.81 |
|
DEBT TO EQUITY RATIO |
TIMES |
5.57 |
4.95 |
4.29 |
|
TIME INTEREST EARNED |
TIMES |
2.19 |
2.78 |
2.81 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(6.83) |
8.68 |
|
|
OPERATING PROFIT |
% |
(9.92) |
45.63 |
|
|
NET PROFIT |
% |
(20.19) |
52.92 |
|
|
FIXED ASSETS |
% |
25.72 |
16.66 |
|
|
TOTAL ASSETS |
% |
19.20 |
25.23 |
|
ANNUAL
GROWTH: ACCEPTABLE
An annual sales growth is -6.83%. Turnover has decreased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
5.45 |
Deteriorated |
Industrial
Average |
10.93 |
|
Net Profit Margin |
0.55 |
Deteriorated |
Industrial
Average |
1.45 |
|
Return on Assets |
1.13 |
Acceptable |
Industrial
Average |
2.05 |
|
Return on Equity |
7.43 |
Impressive |
Industrial
Average |
6.65 |
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 5.45%. 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 0.55%.
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 1.13%.
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 7.43%, 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 : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.09 |
Satisfactory |
Industrial
Average |
1.31 |
|
Quick Ratio |
0.70 |
|
|
|
|
Cash Conversion Cycle |
113.05 |
|
|
|
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 1.09 times in 2013, decreased from 1.1 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 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 0.7 times in 2013,
increased from 0.68 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 114 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE:
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.85 |
Acceptable |
Industrial
Average |
0.66 |
|
Debt to Equity Ratio |
5.57 |
Risky |
Industrial
Average |
2.06 |
|
Times Interest Earned |
2.19 |
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 2.19 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 0.85 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
331.46 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
2.06 |
Impressive |
Industrial
Average |
1.41 |
|
Inventory Conversion Period |
29.46 |
|
|
|
|
Inventory Turnover |
12.39 |
Impressive |
Industrial
Average |
4.18 |
|
Receivables Conversion Period |
105.73 |
|
|
|
|
Receivables Turnover |
3.45 |
Impressive |
Industrial
Average |
2.43 |
|
Payables Conversion Period |
22.14 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.45 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 26 days at the
end of 2012 to 29 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 14.02 times in year 2012 to 12.39
times in year 2013.
The company's Total Asset Turnover is calculated as 2.06 times and 2.64
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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.58 |
|
|
1 |
Rs.99.98 |
|
Euro |
1 |
Rs.79.39 |
INFORMATION DETAILS
|
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.