MIRA INFORM REPORT
|
Report No. : |
342294 |
|
Report Date : |
26.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
KRISHNA IMPEX CO., LTD. |
|
|
|
|
Registered Office : |
24th Floor,
Jewelry Trade Center, 919/308 Silom
Road, Silom, Bangrak, Bangkok
10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
11.02.2002 |
|
|
|
|
Com. Reg. No.: |
0105545016545 [Former:
10454500268] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is engaged in importing, distributing and re-exporting
various kinds of diamonds and gemstones, as well as exporting local diamonds,
gemstones and jewelry products. |
|
|
|
|
No. of Employees : |
2 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Thailand |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
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, 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’�tat, tourism decreased 6-7% but is beginning to recover. The household debt to GDP ratio is over 80%. The Thai government in 2013 implemented a nation-wide 300 baht ($10) per day minimum wage policy and deployed new tax reforms designed to lower rates on middle-income earners. The Thai baht has remained stable.
|
Source
: CIA |
COMPANY
NAME
KRISHNA IMPEX CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 24th FLOOR,
JEWELRY TRADE CENTER,
919/308 SILOM
ROAD, SILOM,
BANGRAK,
BANGKOK 10500, THAILAND
TELEPHONE : [66] 2267-4251
FAX :
[66] 2635-8488
E-MAIL ADDRESS : krishnaimpex@hotmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2002
REGISTRATION
NO. : 0105545016545 [Former: 10454500268]
TAX
ID NO. : 3030469533
CAPITAL REGISTERED : BHT. 6,000,000
CAPITAL PAID-UP : BHT.
6,000,000
SHAREHOLDER’S PROPORTION : THAI
: 51.83%
INDIAN :
48.17%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
MAYUR MANJIBHAI DESAI,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 2
LINES
OF BUSINESS : DIAMONDS AND
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 February 11,
2002 as a
private limited company under
the registered name
KRISHNA IMPEX CO.,
LTD., by Thai
and Indian groups, with
the objective to
engage in jewelry
trading business. It currently
employs 2 staff.
The
subject’s registered address
was initially at 3rd Flr.,
T.D. Bldg., 14-16 Mahaesak Rd.,
Suriyawongse, Bangrak, Bangkok
10500.
On
March 18, 2008
the subject’s registered
address was moved
to 5th Flr., J.K.
Bldg., Room 502,
6 Mahesak 3 Rd.,
Suriyawongse, Bangrak, Bangkok
10500.
On
June 21, 2012,
its registered address
was relocated to 24th Floor,
Jewelry Trade Center,
919/308 Silom Rd., Silom,
Bangrak, Bangkok 10500, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTORS
|
Name |
Nationality |
Age |
|
|
|
|
|
Mr. Mayur Manjibhai Desai |
Indian |
34 |
|
Mr. Bharatkumar Manjibhai Patel
Alias Desai |
Indian |
34 |
|
Mr. Hitesh Chhaganbhai Desai |
Indian |
31 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Mayur Manjibhai Desai
is the Managing
Director.
He is Indian
nationality with the
age of 34 years
old.
BUSINESS OPERATIONS
The subject is
engaged in importing,
distributing and re-exporting
various kinds of
diamonds and gemstones,
as well as
exporting local diamonds,
gemstones and jewelry
products.
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas, mainly in
India.
SALES [LOCAL]
The products are
sold locally by
wholesale to manufacturers
and end-users.
EXPORT
The products are exported
and re-exported to
Hong Kong, Republic of
China, Japan, India,
Singapore and the
countries in Europe.
SUBSIDIARY AND
AFFILIATED COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at Legal
Execution Department for
the past five
years.
Others
There are no legal suits
filed against the
subject according the
past two years.
CREDIT
Sales are by
cash or on
the credits term
of 60-90 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by T/T on
the credit term
of 90 days.
Exports are against
T/T on the
credit term of
90 days.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject currently employs
2 staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
COMMENT
Thai jewelry products
had grown significantly
during the past
several years. Increasing subject’s productivity
from local demand
had also risen
continuously.
Subject’s sales were
related to the growth
of the industries, which
has shown a
slow growth in
the year 2014.
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 follows:
Bht.
4,000,000 on June 3, 2003
Bht.
6,000,000 on June 9, 2014
The
latest registered capital
was increased to
Bht. 6,000,000 divided into
60,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE
[as
at April 30,
2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Mayur Manjibhai Desai
Nationality: Indian Address : 24th Floor,
Jewelry Trade Center,
919/308 Silom Rd., Silom,
Bangrak, Bangkok |
12,000 |
20.00 |
|
Ms. Benjarin Srisukhon Nationality: Thai Address : 301/3
Moo 1, T. Thasala,
A. Thasala, Nakornsrithammarat |
11,000 |
18.33 |
|
Mrs. Pobporn Nijsoonkij Nationality: Thai Address : 300/445
Moo 3, T. Bangrakpattana, A. Bangbuathong, Nonthaburi |
10,000 |
16.67 |
|
Mr. Hitesh Chhaganbhai Desai Nationality: Indian Address : 24th Floor,
Jewelry Trade Center,
919/308 Silom Rd., Silom,
Bangrak, Bangkok |
8,900 |
14.83 |
|
Mr. Bharatkumar Manjibhai
Patel Alias Desai Nationality: Indian
Address : 24th Floor,
Jewelry Trade Center,
919/308 Silom Rd., Silom,
Bangrak, Bangkok |
8,000 |
13.33 |
|
Mr. Pornchai Samma-anant Nationality: Thai Address : 13/74
Rimklong-bang-kor Rd., Bang-kor,
Jomthong, Bangkok |
5,100 |
8.50 |
|
Ms. Chanpen Phala Nationality: Thai Address : 134/22
Soi Anamaingamcharoen 31, T. Thakam,
A. Bangkhunthien, Bangkok |
5,000 |
8.34 |
Total Shareholders : 7
Share Structure [as
at April 30,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
31,100 |
51.83 |
|
Foreign - Indian |
3 |
28,900 |
48.17 |
|
Total |
7 |
60,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Ms. Nikul Udomkijja No. 6725
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 |
455,235.31 |
549,276.45 |
22,676.03 |
|
Trade Accounts Receivable
|
18,242,684.50 |
4,961,699.87 |
6,973,542.92 |
|
Short-term Loans |
184,486.40 |
- |
- |
|
Inventories |
22,538,677.35 |
19,541,426.32 |
24,115,279.75 |
|
Other Current Assets
|
54,304.44 |
131,734.60 |
148,404.01 |
|
|
|
|
|
|
Total Current Assets
|
41,475,388.00 |
25,184,137.24 |
31,259,902.71 |
|
|
|
|
|
|
Fixed Assets |
24,208.31 |
119,817.49 |
234,637.84 |
|
Total Assets |
41,499,596.31 |
25,303,954.73 |
31,494,540.55 |
LIABILITIES & SHAREHOLDERS' EQUITY
[BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft |
- |
4,866,551.79 |
4,622,101.52 |
|
Trade Accounts & Other
Payable |
31,197,225.96 |
10,358,337.36 |
16,534,000.96 |
|
Short-term Loan from Person or Related Company |
- |
2,021,000.00 |
1,411,000.00 |
|
Accrued Income Tax |
172,231.51 |
100,762.19 |
120,626.79 |
|
|
|
|
|
|
Total Current Liabilities |
31,369,457.47 |
17,346,651.34 |
22,687,729.27 |
|
|
|
|
|
|
Total Liabilities |
31,369,457.47 |
17,346,651.34 |
22,687,729.27 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized and issued
share capital 60,000 shares
in 2014, 40,000 shares
in 2013 & 2012 |
6,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
|
|
|
|
|
Capital Paid |
6,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Retained Earning -
Unappropriated [Deficit] |
4,130,138.84 |
3,957,303.39 |
4,806,811.28 |
|
Total Shareholders' Equity |
10,130,138.84 |
7,957,303.39 |
8,806,811.28 |
|
Total Liabilities &
Shareholders' Equity |
41,499,596.31 |
25,303,954.73 |
31,949,540.55 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales |
65,978,585.85 |
44,544,816.46 |
43,605,785.94 |
|
Gain on Exchange Rate |
568,194.27 |
1,395,453.48 |
622,084.73 |
|
Other Income |
- |
1.00 |
5.43 |
|
Total Revenues |
66,546,780.12 |
45,940,270.94 |
44,227,876.10 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
60,246,714.51 |
40,085,498.33 |
37,644,695.75 |
|
Selling Expenses |
561,507.19 |
318,369.31 |
352,468.84 |
|
Administrative Expenses |
4,699,730.73 |
5,418,026.82 |
4,558,907.47 |
|
Total Expenses |
65,507,952.43 |
45,821,894.46 |
42,556,072.06 |
|
|
|
|
|
|
Profit / Loss] before Finance
Costs & Income Tax |
1,038,827.69 |
118,376.48 |
1,671,804.04 |
|
Finance Costs |
[527,907.06] |
[733,350.45] |
[665,546.17] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax |
510,920.63 |
[614,973.97] |
1,006,257.87 |
|
Income Tax |
[338,085.18] |
[234,533.92] |
[250,966.77] |
|
Net Profit / [Loss] |
172,835.45 |
[849,507.89] |
755,291.10 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.32 |
1.45 |
1.38 |
|
QUICK RATIO |
TIMES |
0.60 |
0.32 |
0.31 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2,725.45 |
371.77 |
185.84 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.59 |
1.76 |
1.38 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
136.55 |
177.94 |
233.82 |
|
INVENTORY TURNOVER |
TIMES |
2.67 |
2.05 |
1.56 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
100.92 |
40.66 |
58.37 |
|
RECEIVABLES TURNOVER |
TIMES |
3.62 |
8.98 |
6.25 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
189.01 |
94.32 |
160.31 |
|
CASH CONVERSION CYCLE |
DAYS |
48.46 |
124.27 |
131.88 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.31 |
89.99 |
86.33 |
|
SELLING & ADMINISTRATION |
% |
7.97 |
12.88 |
11.26 |
|
INTEREST |
% |
0.80 |
1.65 |
1.53 |
|
GROSS PROFIT MARGIN |
% |
9.55 |
13.14 |
15.10 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.57 |
0.27 |
3.83 |
|
NET PROFIT MARGIN |
% |
0.26 |
(1.91) |
1.73 |
|
RETURN ON EQUITY |
% |
1.71 |
(10.68) |
8.58 |
|
RETURN ON ASSET |
% |
0.42 |
(3.36) |
2.40 |
|
EARNING PER SHARE |
BAHT |
2.88 |
(21.24) |
18.88 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.76 |
0.69 |
0.72 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.10 |
2.18 |
2.58 |
|
TIME INTEREST EARNED |
TIMES |
1.97 |
0.16 |
2.51 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
48.12 |
2.15 |
|
|
OPERATING PROFIT |
% |
777.56 |
(92.92) |
|
|
NET PROFIT |
% |
120.35 |
(212.47) |
|
|
FIXED ASSETS |
% |
(79.80) |
(48.94) |
|
|
TOTAL ASSETS |
% |
64.00 |
(19.66) |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 48.12%. Turnover has increased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
9.55 |
Acceptable |
Industrial Average |
16.41 |
|
Net Profit Margin |
0.26 |
Deteriorated |
Industrial Average |
1.41 |
|
Return on Assets |
0.42 |
Deteriorated |
Industrial Average |
3.02 |
|
Return on Equity |
1.71 |
Deteriorated |
Industrial Average |
8.20 |
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 9.55%. 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 0.26%.
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 0.42%.
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 1.71%.
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 |
1.32 |
Satisfactory |
Industrial
Average |
1.66 |
|
Quick Ratio |
0.60 |
|
|
|
|
Cash Conversion Cycle |
48.46 |
|
|
|
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 1.32 times in 2014, decreased from 1.45 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 0.6 times in 2014,
increased from 0.32 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 49 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.76 |
Acceptable |
Industrial Average |
0.60 |
|
Debt to Equity Ratio |
3.10 |
Risky |
Industrial
Average |
1.49 |
|
Times Interest Earned |
1.97 |
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 1.97 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 0.76 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
2,725.45 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.59 |
Acceptable |
Industrial
Average |
2.14 |
|
Inventory Conversion Period |
136.55 |
|
|
|
|
Inventory Turnover |
2.67 |
Satisfactory |
Industrial
Average |
3.44 |
|
Receivables Conversion Period |
100.92 |
|
|
|
|
Receivables Turnover |
3.62 |
Satisfactory |
Industrial
Average |
4.11 |
|
Payables Conversion Period |
189.01 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.62 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 178 days at the
end of 2013 to 137 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 2.05 times in year 2013 to 2.67 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.59 times and 1.76
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.66.10 |
|
UK Pound |
1 |
Rs.100.89 |
|
Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.