MIRA INFORM REPORT
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Report No. : |
349450 |
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Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
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Name : |
D. RATANA CO., LTD. |
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Formerly Known As : |
D. RATANA LTD. |
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Registered Office : |
Unit 2510, 25th Floor, Jewelry Trade Center, 919/324 Silom Road, Silom, Bangrak, Bangkok 10500 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
29.07.1993 |
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Com. Reg. No.: |
0105536086773 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in importing, distributing and
re-exporting various kinds of diamond, semi-precious stones and diamond jewelry with gold and platinum
setting, |
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No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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, and generally pro-investment policies Thailand has historically had a strong economy due in part to competitive 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 2-4 million migrant workers from neighboring countries, and faces labor shortages. Following the May 2014 coup d'etat, 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
D. RATANA
CO., LTD.
[FORMER : D.
RATANA LTD.]
SUMMARY
BUSINESS ADDRESS : UNIT
2510, 25th FLOOR,
JEWELRY TRADE CENTER,
919/324 SILOM
ROAD, SILOM, BANGRAK,
BANGKOK 10500,
THAILAND
TELEPHONE
: [66] 2630-0510-2
FAX :
[66] 2630-0513
E-MAIL ADDRESS : dratana2006@gmail.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1993
REGISTRATION NO. : 0105536086773
TAX ID NO. : 3011308110
CAPITAL REGISTERED : BHT.
26,000,000
CAPITAL PAID-UP
: BHT.
26,000,000
SHAREHOLDER’S PROPORTION : THAI :
53.00%
INDIAN
: 47.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE
: MR.
SANDEEP MEHTA, INDIAN
MANAGING DIRECTOR
NO. OF
STAFF : 3
LINES OF
BUSINESS : JEWELRY
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
July 29, 1993
as a private
limited company under
the initially registered
name “D. Ratana Ltd.”, by
Thai and Indian
groups, in order to
operate in jewelry
trading business. On
October 16, 2014,
its registered name
was changed to D.
RATANA CO., LTD.
The subject currently employs
3 staff.
The subject’s
registered address is Unit
2510, 25th Floor,
Jewelry Trade Center, 919/324 Silom Rd.,
Silom, Bangrak, Bangkok
10500, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Anil Kumar Kothari |
|
Indian |
54 |
|
Mrs. Kiran Kothari |
|
Indian |
50 |
|
Mr. Sandeep Mehta |
|
Indian |
43 |
|
Mr. Vipin Bohra |
|
Indian |
34 |
AUTHORIZED
PERSON
Any of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Sandeep Mehta is
the Managing Director.
He is Indian
nationality with the
age of 43 years
old.
BUSINESS
OPERATIONS
The subject is
engaged in importing,
distributing and
re-exporting various kinds
of diamond, semi-precious stones
and diamond jewelry
with gold and
platinum setting, as well
as exporting of
the local products.
PURCHASE
The products
are purchased from
manufacturers and traders
both domestic and
overseas in
India.
SALES
LOCAL]
The products are
sold locally by
wholesale to manufacturers
and traders.
EXPORT
The products are
exported and re-exported
to Singapore, Japan,
India, Hong Kong,
Republic of China
and the countries
in Europe.
RELATED AND
AFFILIATED COMPANY
Pyramid Jewel’s & Art
Co., Ltd.
Business Type : Importer
and exporter of
jewelry 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
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
T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject
currently employs 3
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
is engaged in
importing and distributing of precious and semi precious
stones for jewelry
production. Its business
performance was good in
the previous year.
The subject’s business performance
had strongly grown
in the year
2014, while flat
growth has seen
in recent months
from slow consumption
in domestic market.
FINANCIAL
INFORMATION
The capital
was registered at
Bht. 2,000,000 divided
into 20,000 shares
of Bht. 100
each.
The capital
was increased later
as following:
Bht. 4,000,000
on April 18,
1995
Bht. 6,000,000
on October 30,
1995
Bht. 11,000,000
on June 21,
2000
Bht. 22,000,000
on December 6,
2005
Bht. 26,000,000
on January 16,
2008
The latest
registered capital was
increased to Bht. 26 million, divided
into 260,000 shares
of Bht. 100
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
[as at
April 30, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Sandeep Mehta Nationality: Indian Address : Jaipur,
India |
57,500 |
22.12 |
|
Mr. Anil Kumar Kothari Nationality: Indian Address : Jaipur,
India |
54,900 |
21.12 |
|
Ms. Thanasirisap
Nicholas Nationality: Thai Address : 13/1
Trok Wat Pathumvanaram,
Pathumwan, Bangkok |
48,200 |
18.54 |
|
Mr. Thamnai
Sritakorn Nationality: Thai Address : 96
Moo 7, Thartnoi,
Kuengnai,
Ubonratchathani |
35,600 |
13.69 |
|
Ms. Niyakorn
Yathathes Nationality: Thai Address : 175
Moo 4, Huayjode,
Watthananakorn,
Srakaew |
27,000 |
10.38 |
|
Ms. Nittaya
Yathathet Nationality: Thai Address : 175
Moo 4, Huayjode,
Watthananakorn,
Srakaew |
27,000 |
10.38 |
|
Mrs. Kiran Kothari Nationality: Indian Address : Jaipur,
India |
9,800 |
3.77 |
Total
Shareholders : 7
Share Structure [as at
April 30, 2015]
|
Nationality |
Shareholders |
No.
of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
137,800 |
53.00 |
|
Foreign-Indian |
3 |
122,200 |
47.00 |
|
Total |
7 |
260,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Narin
Ployjinda No. 5931
BALANCE
SHEET [BAHT]
The latest
financial figures published
for December 31, 2014,
2013 & 2012
were:
ASSETS
|
Current
Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash
Equivalents |
591,014.38 |
208,404.37 |
222,729.12 |
|
Short-term Investment |
8,817,029.05 |
8,175,301.30 |
8,488,212.94 |
|
Trade Accounts & Other Receivable |
288,829,900.86 |
178,011,212.16 |
137,775,588.35 |
|
Inventories
|
118,176,499.95 |
82,319,952.72 |
36,163,561.38 |
|
Other Current Assets
|
280.00 |
- |
10,411.68 |
|
|
|
|
|
|
Total Current Assets |
416,414,724.24 |
268,714,870.55 |
182,660,503.47 |
|
|
|
|
|
|
Fixed Assets
|
23,764,538.75 |
25,676,779.82 |
27,102,770.83 |
|
Other Non-current
Assets |
19,000.00 |
19,000.00 |
19,000.00 |
|
Total Assets |
440,198,262.99 |
294,410,650.37 |
209,782,274.30 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial
Institutions |
189,094,243.88 |
119,150,491.27 |
97,330,160.01 |
|
Trade Accounts
& Other Payable |
145,037,219.95 |
81,867,906.94 |
38,585,894.95 |
|
Current
Portion of Long-term Loans |
625,854.08 |
4,696,394.16 |
5,040,000.00 |
|
Current
Portion of Hire-purchase Payable |
597,026.09 |
623,073.85 |
592,545.81 |
|
Accrued Income Tax |
1,941,692.23 |
985,866.17 |
1,014,711.40 |
|
Other Current Liabilities |
1,678,302.16 |
1,221,173.37 |
1,312,146.93 |
|
|
|
|
|
|
Total Current Liabilities |
338,974,388.39 |
208,544,905.76 |
143,875,459.10 |
|
Long-term
Loans, net of Current
Portion |
- |
- |
4,194,147.65 |
|
Hire-purchase
Payable, net of Current
Portion |
- |
595,149.67 |
1,278,248.55 |
|
Long-term Loan from
Related Person |
51,380,108.00 |
45,259,091.00 |
25,745,968.00 |
|
Total Liabilities |
390,354,446.39 |
254,399,146.43 |
175,093,823.30 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 260,000 shares |
26,000,000.00 |
26,000,000.00 |
26,000,000.00 |
|
|
|
|
|
|
Capital Paid |
26,000,000.00 |
26,000,000.00 |
26,000,000.00 |
|
Retained Earning - Unappropriated |
23,843,816.60 |
14,011,503.94 |
8,688,451.00 |
|
Total
Shareholders' Equity |
49,843,816.60 |
40,011,503.94 |
34,688,451.00 |
|
Total
Liabilities & Shareholders' Equity |
440,198,262.99 |
294,410,650.37 |
209,782,274.30 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Revenue from Domestic
Sales |
146,449,693.33 |
210,441,251.98 |
194,015,070.22 |
|
Revenue from Overseas Sales |
407,323,134.61 |
91,399,647.50 |
87,871,547.95 |
|
Interest Income |
143,159.35 |
166,005.65 |
128,044.64 |
|
Other Income |
5,524.82 |
26,018.97 |
5,944.10 |
|
Total Revenues |
553,921,512.11 |
302,032,924.10 |
282,020,606.91 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
521,674,396.81 |
277,129,926.25 |
262,011,282.57 |
|
Selling Expenses |
4,998,256.00 |
4,101,488.21 |
4,458,006.51 |
|
Administrative
Expenses |
7,634,286.22 |
6,144,193.39 |
5,616,285.89 |
|
Other Expenses |
1,298,458.87 |
3,399,977.61 |
257,191.23 |
|
Total Expenses |
535,602,397.90 |
290,775,585.46 |
272,342,766.20 |
|
|
|
|
|
|
Profit before Financial Cost & Income Tax |
18,319,114.21 |
11,257,338.64 |
9,677,840.71 |
|
Financial Cost |
[5,373,677.72] |
[4,047,126.48] |
[4,136,148.11] |
|
|
|
|
|
|
Profit before
Income Tax |
12,945,436.49 |
7,210,212.16 |
5,541,692.60 |
|
Income Tax |
[3,113,123.83] |
[1,887,159.22] |
[1,878,485.62] |
|
Net Profit / [Loss]
|
9,832,312.66 |
5,323,052.94 |
3,663,206.98 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY
RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.23 |
1.29 |
1.27 |
|
QUICK RATIO |
TIMES |
0.88 |
0.89 |
1.02 |
|
|
|
|
|
|
|
ACTIVITY
RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
23.30 |
11.76 |
10.40 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.26 |
1.03 |
1.34 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
82.68 |
108.42 |
50.38 |
|
INVENTORY TURNOVER |
TIMES |
4.41 |
3.37 |
7.25 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
190.37 |
215.26 |
178.40 |
|
RECEIVABLES TURNOVER |
TIMES |
1.92 |
1.70 |
2.05 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
101.48 |
107.83 |
53.75 |
|
CASH CONVERSION CYCLE |
DAYS |
171.58 |
215.85 |
175.02 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
94.20 |
91.81 |
92.95 |
|
SELLING & ADMINISTRATION |
% |
2.28 |
3.39 |
3.57 |
|
INTEREST |
% |
0.97 |
1.34 |
1.47 |
|
GROSS PROFIT MARGIN |
% |
5.82 |
8.25 |
7.10 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.31 |
3.73 |
3.43 |
|
NET PROFIT MARGIN |
% |
1.78 |
1.76 |
1.30 |
|
RETURN ON EQUITY |
% |
19.73 |
13.30 |
10.56 |
|
RETURN ON ASSET |
% |
2.23 |
1.81 |
1.75 |
|
EARNING PER SHARE |
BAHT |
37.82 |
20.47 |
14.09 |
|
|
|
|
|
|
|
LEVERAGE
RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.89 |
0.86 |
0.83 |
|
DEBT TO EQUITY RATIO |
TIMES |
7.83 |
6.36 |
5.05 |
|
TIME INTEREST EARNED |
TIMES |
3.41 |
2.78 |
2.34 |
|
|
|
|
|
|
|
ANNUAL
GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
83.47 |
7.08 |
|
|
OPERATING PROFIT |
% |
62.73 |
16.32 |
|
|
NET PROFIT |
% |
84.71 |
45.31 |
|
|
FIXED ASSETS |
% |
(7.45) |
(5.26) |
|
|
TOTAL ASSETS |
% |
49.52 |
40.34 |
|
ANNUAL
GROWTH : IMPRESSIVE
An annual sales growth is
83.47%. Turnover has increased from THB
PROFITABILITY
: RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
5.82 |
Deteriorated |
Industrial
Average |
233.56 |
|
Net Profit Margin |
1.78 |
Deteriorated |
Industrial
Average |
4.01 |
|
Return on Assets |
2.23 |
Deteriorated |
Industrial
Average |
6.63 |
|
Return on Equity |
19.73 |
Acceptable |
Industrial
Average |
31.84 |
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 5.82%. 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 1.78%. 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 2.23%.
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 19.73%.
Trend
of the average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Uptrend
LIQUIDITY
: ACCEPTABLE
LIQUIDITY
RATIO
|
Current Ratio |
1.23 |
Impressive |
Industrial Average |
1.17 |
|
Quick Ratio |
0.88 |
|
|
|
|
Cash Conversion Cycle |
171.58 |
|
|
|
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 1.23 times in 2014, decreased from 1.29 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 0.88 times in
2014, decreased from 0.89 times, by excluding inventory, the company may have
problems meeting current liabilities.
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 172 days.
Trend
of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE
: ACCEPTABLE
LEVERAGE
RATIO
|
Debt Ratio |
0.89 |
Acceptable |
Industrial Average |
0.88 |
|
Debt to Equity Ratio |
7.83 |
Risky |
Industrial Average |
3.69 |
|
Times Interest Earned |
3.41 |
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 3.41 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 0.89 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
: IMPRESSIVE
ACTIVITY
RATIO
|
Fixed Assets Turnover |
23.30 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.26 |
Satisfactory |
Industrial
Average |
1.41 |
|
Inventory Conversion Period |
82.68 |
|
|
|
|
Inventory Turnover |
4.41 |
Impressive |
Industrial
Average |
(0.71) |
|
Receivables Conversion Period |
190.37 |
|
|
|
|
Receivables Turnover |
1.92 |
Impressive |
Industrial
Average |
1.90 |
|
Payables Conversion Period |
101.48 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.92
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 108 days at the
end of 2013 to 83 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 3.37 times in year 2013 to 4.41 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.26
times and 1.03 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
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
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The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.98 |
|
UK Pound |
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
TRU |
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.