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MIRA
INFORM REPORT
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Report No. : |
502498 |
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Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
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Name : |
DIAMRUSA LIMITED |
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Formerly Known As : |
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Registered Office : |
66/4-10 Soi Pramote [Yesu], Surawong Road, Suriyawongse, Bangrak, Bangkok 10500 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
06.11.1981 |
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Com. Reg. No.: |
0105524026649 |
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Legal Form : |
Private
limited company |
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Line of Business : |
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No. of Employees : |
180 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Thailand |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
THAILAND - ECONOMIC
OVERVIEW
With a relatively well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, Thailand is highly dependent on international trade, with exports accounting for about two-thirds of GDP. Thailand’s exports include electronics, agricultural commodities, automobiles and parts, and processed foods. The industry and service sectors produce about 90% of GDP. The agricultural sector, comprised mostly of small-scale farms, contributes only 10% of GDP but employs about one-third of the labor force. Thailand has attracted an estimated 3.0-4.5 million migrant workers, mostly from neighboring countries.
Over the last few decades, Thailand has reduced poverty substantially. In 2013, the Thai Government implemented a nationwide 300 baht (roughly $10) per day minimum wage policy and deployed new tax reforms designed to lower rates on middle-income earners.
Thailand’s economy is recovering from slow growth during the years since the 2014 coup. Thailand’s economic fundamentals are sound, with low inflation, low unemployment, and reasonable public and external debt levels. Tourism and government spending - mostly on infrastructure and short-term stimulus measures – have helped to boost the economy, and The Bank of Thailand has been supportive, with several interest rate reductions.
Over the longer-term, household debt levels, political uncertainty, and an aging population pose risks to growth.
|
Source
: CIA |
Company name
DIAMRUSA LIMITED
SUMMARY
BUSINESS ADDRESS : 66/4-10 SOI
PRAMOTE [YESU], SURAWONG
ROAD,
SURIYAWONGSE, BANGRAK,
BANGKOK 10500,
THAILAND
TELEPHONE
: [66] 2237-8825-30, 2237-8563-5
FAX :
[66] 2236-6248,
2237-1573
E-MAIL ADDRESS : diamrusa@diamrusa.com
info@diamrusa.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1981
REGISTRATION NO. : 0105524026649 [Former: 2663/2524]
TAX ID NO. : 3101339697
CAPITAL REGISTERED : BHT.
100,000,000
CAPITAL PAID-UP
: BHT.
100,000,000
SHAREHOLDER’S PROPORTION : THAI :
63.40%
INDIAN
: 36.60%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE
: MR.
SHAH SALIL SEVANTILALS,
INDIAN
MANAGING DIRECTOR
NO. OF
STAFF : 180
LINES OF
BUSINESS : JEWELRY PRODUCTS
MANUFACTURER, EXPORTER
AND DISTRIBUTOR
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 6, 1981
as a private
limited company under
the initially registered
name “Industrial Dyestuff Limited” by Thai
and Indian groups.
On August 2, 1985,
the subject’s name was
changed to “Thai
Add Holding Limited”,
and finally changed to DIAMRUSA LIMITED on October 3, 1986. The business
objective is to
manufacture various kinds
of jewelry products
for domestic and overseas markets.
It currently employs
approximately 180 staff.
It is
an affiliated company
of Canopus Limited,
which is also
engaged in jewelry
business.
The subject’s
registered address is 66/4-10 Soi
Pramote [Yesu], Surawong
Rd.,
Suriyawongse, Bangrak, Bangkok
10500, and this
is the subject’s
current operation
address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Shah Salil Sevantilals |
|
Indian |
58 |
|
Ms. Wattana
Jittjaicham |
|
Thai |
57 |
|
Ms. Oraporn
Ajanakulchai |
|
Thai |
61 |
|
Ms. Rattanaporn
Pimthong |
|
Thai |
54 |
|
Ms. Supatra
Phongsawadkul |
|
Thai |
52 |
AUTHORIZED PERSON
Any two of the
above directors can
jointly sign on behalf
of the subject
with
company’s affixed.
MANAGEMENT
Mr. Shah Salil
Sevantilals is the
Managing Director.
He is Indian
nationality with the
age of 58
years old.
Ms. Wattana
Jittjaicham is the
Deputy Managing Director
and Sales &
Marketing Manager.
She is
Thai nationality with
the age of
57 years old.
Ms. Oraporn
Ajanakulchai
is the Deputy
Managing Director and
Accounting &
Financial Manager.
She is Thai
nationality with the
age of 61
years old.
BUSINESS OPERATIONS
The subject’s activities
are design, manufacturer,
exporter and distributor
of 14k and
18k fine gold
and platinum jewelry
set with diamonds, precious stones
and pearls, under
its own brand
name “DIAMRUSA”, as
well as contract
manufacturer of the
products under customer’s own brands.
The subject is also
importer and distributor
of diamonds, gemstones
and pearls for
jewelry trading and
production industry.
PURCHASE
Raw materials mainly
diamonds, precious stones,
pearls and components are
purchased from suppliers both domestic and overseas in India, Republic of
China, Japan, Bangladesh, South
Africa and Hong Kong.
EXPORT
95% of the products is
exported to Europe, United States
of America, Hong Kong, Japan,
India, Korea, Malaysia, Indonesia, Singapore,
Brazil, Republic of
China, South Africa
and Middle East countries.
SALES
5% of the products
is sold locally
to wholesalers.
PARENT COMPANY
Canopus Limited :
Thailand
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 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
Deutsche Bank AG.
[Bangkok Office
: 208 Wireless
Rd., Lumpini, Pathumwan,
Bangkok]
Krung Thai Bank
Public Company Limited
[Head Office
: 35 Sukhumvit
Rd., Klongtoey, Bangkok]
Bangkok Bank Public
Company Limited
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok]
EMPLOYMENT
The subject
employs approximately 180
office staff and
factory workers.
LOCATION DETAILS
The premise
is rented for
administrative office and
showroom, in a
3 storey building
of 4 row
shop houses at the heading
address. Premise is
located in a prime commercial area.
Factory is located at 3rd Floor, Gemopolis Industrial Estate, 48/12 Moo 4,
Sukhapibal 2 Rd., Dokmai,
Prawet, Bangkok 10250.
Branch office :
- 25th Floor,
ITF Silom Palace
Building, 160/582-4 Silom
Rd., Suriyawongse, Bangrak,
Bangkok
10500.
Showroom :
- 8, 10, 12, 14
Narathivas Ratchanakarin Rd.,
Suriyawongse, Bangrak, Bangkok
10500
COMMENT
The subject manufactures
fine jewelry products made from
gold and platinum
with diamond and
precious stones. Most
of the products
are supplied to international
buyers.
The subject
captures a worldwide
market of elegant
jewelry and precious
stones. It presents
a wide range of
exclusive high-end pieces,
which are created
with unique and
innovative designs in
modern concepts, delicate
antique reproductions and
mysterious invisible settings.
The subject
reported a satisfactory
performance in the
year 2016 with
a increase in
both sales or
service income and
net profit comparing to
the previous year.
Its business is
promising and remains
profitable in line
with a recovery of
some export markets.
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 1,000 shares of
Bht. 1,000
each.
The capital
was increased later
as following:
Bht. 3,000,000 on
October 3, 1986
Bht. 15,000,000
on April 24,
1989
Bht. 25,000,000
on June 23,
1989
Bht. 50,000,000
on January 18,
1993
Bht. 100,000,000
on May 14,
2008
The latest
registered 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 28, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Canopus Limited Nationality: Thai Address : 66/9
Surawong Rd., Suriyawongse,
Bangrak, Bangkok |
375,970 |
37.60 |
|
Mr. Shah Salil Sevantilals Nationality: Indian Address : 72/35
South Sathorn Rd., Thungmahamek,
Sathorn, Bangkok |
365,970 |
36.60 |
|
Ms. Wattana
Jittjaicham Nationality: Thai Address : 160/586-8
Silom Rd., Suriyawongse, Bangrak, Bangkok |
213,030 |
21.30 |
|
|
|
|
|
Ms. Supatra
Phongsawadkul Nationality: Thai Address : 9/538
Ratchadapisek Rd., Chongnonsi,
Yannawa, Bangkok |
15,010 |
1.50 |
|
Ms. Rattanaporn
Pimthong Nationality: Thai Address : 160/586-8
Silom Rd., Suriyawongse,
Bangrak, Bangkok |
15,010 |
1.50 |
|
Ms. Oraporn
Ajanakulchai Nationality: Thai Address : 427/143
Puthabucha Rd., Bangmod,
Jomthong, Bangkok |
15,010 |
1.50 |
Total
Shareholders : 6
Share Structure [as at
April 28, 2017]
|
Nationality |
Shareholders |
No.
of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
634,030 |
63.40 |
|
Foreign - Indian |
1 |
365,970 |
36.60 |
|
Total |
6 |
1,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC ACCOUNTANT
NO. :
Mrs. Sumalee
Sribioonreung No. 3146
financial
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2016, 2015
and 2014 were:
ASSETS
|
Current
Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash
Equivalents |
3,610,265.14 |
8,261,940.61 |
1,313,893.88 |
|
Trade Accounts and
Other Receivable |
195,967,511.33 |
136,349,785.61 |
67,152,288.33 |
|
Inventories |
557,185,625.14 |
621,671,216.35 |
604,027,820.25 |
|
Other Current Assets
|
11,231,968.92 |
14,741,758.13 |
13,590,570.09 |
|
|
|
|
|
|
Total Current Assets |
767,995,370.53 |
781,024,700.70 |
686,084,572.55 |
|
Property, Plant and
Equipments |
38,957,429.85 |
45,230,325.85 |
51,061,074.85 |
|
Intangible Assets |
2.00 |
8,767.13 |
30,433.79 |
|
Other
Non-current Assets |
706,069.16 |
559,069.16 |
493,463.32 |
|
Total Assets |
807,658,871.54 |
826,822,862.84 |
737,669,544.51 |
LIABILITIES
& SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft
and Short-term Loan from Financial Institutions |
467,568,678.52 |
441,204,326 |
356,778,051.51 |
|
Trade Accounts and
Other Payable |
83,669,005.69 |
45,432,459.31 |
50,071,225.26 |
|
Other Current Liabilities |
5,565,649.38 |
6,773,693.93 |
9,038,973.30 |
|
|
|
|
|
|
Total Current Liabilities |
556,803,333.59 |
493,410,480.00 |
415,888,250.07 |
|
Long-term Loans |
80,000,000.00 |
127,900,000.00 |
127,900,000.00 |
|
Total Liabilities |
636,803,333.59 |
621,310,480.00 |
543,788,250.07 |
|
|
|
|
|
|
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 Earnings: Appropriated statutory reserve |
10,000,000.00 |
7,500,000.00 |
7,500,000.00 |
|
Unappropriated |
60,855,537.95 |
98,012,382.84 |
86,381,294.44 |
|
Total
Shareholders' Equity |
170,855,537.95 |
205,512,382.84 |
193,881,294.44 |
|
Total
Liabilities and Shareholders' Equity |
807,658,871.54 |
826,822,862.84 |
737,669,544.51 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services
Income |
510,500,693.79 |
431,356,183.68 |
362,257,733.42 |
|
Other Income |
4,156,728.85 |
1,602,743.54 |
1,069,197.67 |
|
Total Revenues |
514,657,422.64 |
432,958,927.22 |
363,326,931.09 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Service |
415,073,706.57 |
335,540,334.15 |
273,797,385.54 |
|
Selling Expenses |
27,439,698.37 |
26,484,446.98 |
24,953,206.14 |
|
Administrative Expenses |
35,462,986.05 |
35,651,416.40 |
35,247,833.17 |
|
Other Expenses |
- |
2,185,901.90 |
538,377.55 |
|
Total Expenses |
477,976,390.99 |
399,862,099.43 |
334,536,802.40 |
|
|
|
|
|
|
Profit /[Loss]
before Financial Cost
& Income Tax |
36,681,031.65 |
33,096,827.79 |
28,790,128.69 |
|
Financial Cost |
[17,451,765.06] |
[18,490,868.47] |
[18,629,538.06] |
|
Profit /[Loss]
before Income Tax |
19,229,266.59 |
14,605,959.32 |
10,160,590.63 |
|
Income Tax |
[3,886,111.48] |
[2,974,870.92] |
[2,213,705.78] |
|
|
|
|
|
|
Net Profit / [Loss]
|
15,343,155.11 |
11,631,088.40 |
7,946,884.85 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY
RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.38 |
1.58 |
1.65 |
|
QUICK RATIO |
TIMES |
0.36 |
0.29 |
0.16 |
|
|
|
|
|
|
|
ACTIVITY
RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
13.10 |
9.54 |
7.09 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.63 |
0.52 |
0.49 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
489.97 |
676.25 |
805.23 |
|
INVENTORY TURNOVER |
TIMES |
0.74 |
0.54 |
0.45 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
140.11 |
115.37 |
67.66 |
|
RECEIVABLES TURNOVER |
TIMES |
2.61 |
3.16 |
5.39 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
73.58 |
49.42 |
66.75 |
|
CASH CONVERSION CYCLE |
DAYS |
556.51 |
742.21 |
806.14 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
81.31 |
77.79 |
75.58 |
|
SELLING & ADMINISTRATION |
% |
12.32 |
14.40 |
16.62 |
|
INTEREST |
% |
3.42 |
4.29 |
5.14 |
|
GROSS PROFIT MARGIN |
% |
19.51 |
22.58 |
24.71 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.19 |
7.67 |
7.95 |
|
NET PROFIT MARGIN |
% |
3.01 |
2.70 |
2.19 |
|
RETURN ON EQUITY |
% |
8.98 |
5.66 |
4.10 |
|
RETURN ON ASSET |
% |
1.90 |
1.41 |
1.08 |
|
EARNING PER SHARE |
BAHT |
15.34 |
11.63 |
7.95 |
|
|
|
|
|
|
|
LEVERAGE
RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.79 |
0.75 |
0.74 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.73 |
3.02 |
2.80 |
|
TIME INTEREST EARNED |
TIMES |
2.10 |
1.79 |
1.55 |
|
|
|
|
|
|
|
ANNUAL
GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
18.35 |
19.07 |
|
|
OPERATING PROFIT |
% |
10.83 |
14.96 |
|
|
NET PROFIT |
% |
31.92 |
46.36 |
|
|
FIXED ASSETS |
% |
(13.87) |
(11.42) |
|
|
TOTAL ASSETS |
% |
(2.32) |
12.09 |
|
ANNUAL
GROWTH : SATISFACTORY
An annual sales growth is 18.35%. Turnover has increased
from THB
PROFITABILITY
: IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
19.51 |
Satisfactory |
Industrial
Average |
37.64 |
|
Net Profit Margin |
3.01 |
Impressive |
Industrial
Average |
1.34 |
|
Return on Assets |
1.90 |
Satisfactory |
Industrial
Average |
2.12 |
|
Return on Equity |
8.98 |
Impressive |
Industrial
Average |
5.40 |
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 19.51%. 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. Net Profit
Margin ratio is 3.01%, 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. When compared with
the industry average, it was lower, the company's figure is 1.9%.
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 8.98%, 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 |
1.38 |
Satisfactory |
Industrial
Average |
1.84 |
|
Quick Ratio |
0.36 |
|
|
|
|
Cash Conversion Cycle |
556.51 |
|
|
|
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 1.38 times in 2016, decrease from 1.58 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 0.36
times in 2016, increase from 0.29 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 557 days.
Trend
of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE
: ACCEPTABLE
LEVERAGE
RATIO
|
Debt Ratio |
0.79 |
Acceptable |
Industrial
Average |
0.60 |
|
Debt to Equity Ratio |
3.73 |
Risky |
Industrial
Average |
1.51 |
|
Times Interest Earned |
2.10 |
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 2.11 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 0.79 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 |
13.10 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.63 |
Acceptable |
Industrial
Average |
1.59 |
|
Inventory Conversion Period |
489.97 |
|
|
|
|
Inventory Turnover |
0.74 |
Acceptable |
Industrial
Average |
2.75 |
|
Receivables Conversion Period |
140.11 |
|
|
|
|
Receivables Turnover |
2.61 |
Satisfactory |
Industrial
Average |
4.00 |
|
Payables Conversion Period |
73.58 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.61
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 676 days at the
end of 2015 to 490 days at the end of 2016. This represents a positive trend.
And Inventory turnover has increased from 0.54 times in year 2015 to 0.74 times
in year 2016.
The company's Total Asset Turnover is calculated as 0.63
times and 0.52 times in 2016 and 2015 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 |
INR 64.94 |
|
|
1 |
INR 91.75 |
|
Euro |
1 |
INR 79.90 |
|
THB |
1 |
INR 2.09 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.