|
|
|
MIRA INFORM REPORT
|
Report No. : |
503392 |
|
Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
LOHATHAI STAINLESS CO., LTD. |
|
|
|
|
Registered Office : |
1570/3 Pracharat 1
Road, Bangsue, Bangkok 10800 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
28.02.2017 |
|
|
|
|
Date of Incorporation : |
12.05.1995 |
|
|
|
|
Com. Reg. No.: |
0105538057509 [Former: [1]
1272/2538] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is
engaged in distributing and
exporting wide range
of recycled material
products mainly as stainless
steel scraps, nickel
scraps and other
metal scraps. The products
include stainless steel
turning #304, stainless scrap
#430, heavy cutting
stainless steel #304
and stainless scrap
#304. |
|
|
|
|
No. of Employees : |
120 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
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
|
Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Thailand |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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
LOHATHAI STAINLESS
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 1570/3 PRACHARAT
1 ROAD, BANGSUE, BANGKOK
10800, THAILAND
TELEPHONE : [66] 2913-2197-9,
2585-2650, 2585-9811, 087 340-9230
FAX : [66] 2587-5420
E-MAIL ADDRESS : sales@lohathai.com
thanawat@lts.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1995
REGISTRATION NO. : 0105538057509 [Former: [1] 1272/2538]
TAX ID NO. : 3011574478
CAPITAL REGISTERED : BHT.
200,000,000
CAPITAL PAID-UP : BHT.
200,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : FEBRUARY 28
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
DAMRONG KENGRUNGRUENGCHAI, THAI
MANAGING DIRECTOR
NO. OF STAFF : 120
LINES OF BUSINESS : RECYCLE MATERIAL
PRODUCTS
DISTRIBUTOR
AND EXPORTER
|
CORPORATE PROFILE |
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on May
12, 1995 as
a private limited
company under the
registered name LOHATHAI
STAINLESS CO., LTD.
by Thai groups,
with the initial
business objective as
a manufacturer, importer
and distributor of
stainless steel products
to local market.
At present, its
business becomes a
distributor and exporter
of recycle material
products. It currently employs
approximately 120 staff.
The subject’s registered
address is 1570/3 Pracharat 1
Rd., Bangsue, Bangkok 10800, and
this is the
subject’s current operation
address.
THE BOARD OF
DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Damrong Kengrungruengchai |
|
Thai |
67 |
|
Mr. Boriboon Kengrungruengchai |
|
Thai |
40 |
|
Ms. Suwanna Kengrungruengchai |
|
Thai |
38 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Damrong Kengrungruengchai is
the Managing Director.
He is Thai
nationality with the
age of 67 years
old.
Mr. Boriboon Kengrungruengchai is
the Deputy Managing
Director.
He is Thai
nationality with the
age of 40 years
old.
Ms. Suwanna Kengrungruengchai is
the General Manager.
She is Thai
nationality with the
age of 38
years old.
Mr. Thanawat Panpairoj
is the Sales
& Marketing Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in distributing
and exporting wide
range of recycled material products mainly as
stainless steel scraps,
nickel scraps and
other metal scraps. The
products include stainless
steel turning #304, stainless scrap
#430, heavy cutting
stainless steel #304
and stainless scrap
#304.
PRODUCTION CAPACITY
Approximately 30,000 tons
per annum
PURCHASE
100% of the
products is purchased
from local general
industries and suppliers.
EXPORT [COUNTRIES]
60% of the
products is exported
to Japan, India,
Korea, Taiwan, Republic
of China, Malaysia, Hong Kong,
Indonesia, Pakistan and
United States of
America.
SALES [LOCAL]
40% of the
products is sold
locally by wholesale
to manufacturers and
wholesalers.
MAJOR CUSTOMER
Cronimet Corporation : United
Sates of America
Jay Jagdamba Profile
Engineering Products Limited : India
Rehman Steel Furnace
(Pvt) Ltd. : Pakistan
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.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Company Limited
[Nonthaburi Branch
: Nonthaburi Province]
Kasikornbank Public Company
Limited
EMPLOYMENT
The subject currently
employs approximately 120
staff.
LOCATION DETAILS
The premise is owned
for administrative office and
recycle factory at
the heading address. Premise is
located in commercial/residential area.
Note:
Refer to your
given the subject’s
address at 38/3 Moo
6, Nakorn-in Road,
T. Bangkhunkong, A.
Bangkruay, Nonthaburi 11130,
please be informed
that it was
a company’s former
branch office. At
present, this branch
office is not
activated anymore (stopped
operation).
COMMENT
The subject is
one of the
leaders in stainless
steel crap business. Despite a
decrease in sales
or service income
as of February
28, 2017, caused by
slowdown of industrial
sector, the subject managed
to obtain a net
profit. However, the
subject has accumulated
retained earning (deficit)
which could more
or less affect
on its business operation in
the future.
FINANCIAL INFORMATION
The capital was
registered at Bht.
1,000,000 divided into
100 shares of
Bht. 10,000 each.
The capital was
increased later as
following:
Bht. 10,000,000
on August 22,
2000
Bht. 30,000,000
on July 22,
2003
Bht. 50,000,000
on August 23,
2004
Bht. 200,000,000
on February 22,
2007
The latest registered
capital was increased
to Bht. 200,000,000 divided
into 20,000 shares
of Bht. 10,000
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE: [as at
June 30, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Damrong Kengrungruengchai Nationality: Thai Address : 38/3
Moo 6, T. Bangkhunkong, A. Bangkruay,
Nonthaburi |
10,000 |
50.00 |
|
Ms. Suwanna Kengrungruengchai Nationality: Thai Address : 38/3
Moo 6, T. Bangkhunkong, A.
Bangkruay, Nonthaburi |
5,000 |
25.00 |
|
Mr. Boriboon Kengrungruengchai Nationality: Thai Address : 38/3
Moo 6, T. Bangkhunkong, A. Bangkruay,
Nonthaburi |
5,000 |
25.00 |
Total Shareholders : 3
Share Structure [as
at June 30,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
20,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
20,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Natthapol Areeprasertsuk No.
3988
BALANCE SHEET
[BAHT]
The latest financial
figures published for
February 28, 2017
and 2016 and
February 29, 2015
were:
ASSETS
|
Current Assets |
Feb. 28, 2017 |
Feb. 28, 2016 |
Feb. 29, 2015 |
|
|
|
|
|
|
Cash and Cash Equivalents |
34,398,569.17 |
6,251,474.01 |
58,591,843.83 |
|
Trade Accounts and
Other Receivable |
381,321,962.31 |
378,759,201.41 |
600,465,405.01 |
|
Short-term Loans |
64,000,000.00 |
94,400,000.00 |
51,100,000.00 |
|
Inventories |
529,478,866.10 |
600,763,695.11 |
508,047,529.48 |
|
Other Current Assets |
125,790,905.82 |
168,320,779.75 |
22,464,888.24 |
|
Total Current Assets
|
1,134,990,303.40 |
1,248,495,150.28 |
1,240,669,666.56 |
|
|
|
|
|
|
Property, Plant and
Equipment |
127,240,808.90 |
137,818,840.38 |
146,464,929.22 |
|
Other Non-current Assets |
1,453,000.00 |
1,453,000.00 |
3,000.00 |
|
Total Assets |
1,263,684,112.30 |
1,387,766,990.66 |
1,387,137,595.78 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
Feb. 28, 2017 |
Feb. 28, 2016 |
Feb. 29, 2015 |
|
|
|
|
|
|
Bank Overdraft and Short-term
Loan From Financial Institutions |
1,046,751,137.56 |
1,107,574,956.68 |
1,004,000,000.00 |
|
Trade Accounts and Other
Payable |
50,849,029.06 |
83,406,732.57 |
94,917,586.01 |
|
Current Portion of Long-term Liabilities |
10,222,000.00 |
17,690,705.02 |
18,282,542.78 |
|
Accrued Income Tax |
11,425,759.45 |
1,985,281.80 |
2,697,745.68 |
|
Other Current Liabilities |
769,724.60 |
22,750,959.69 |
1,391,708.04 |
|
Total Current Liabilities |
1,120,017,650.67 |
1,233,408,635.76 |
1,121,289,582.51 |
|
|
|
|
|
|
Long-term Loan |
- |
10,222,000.00 |
27,913,485.29 |
|
Other Non-current Liabilities |
644,805.89 |
1,191,177.62 |
972,414.80 |
|
Total Liabilities |
1,120,662,456.56 |
1,244,821,813.38 |
1,150,175,482.60 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10,000
par value authorized, and
issued share capital
20,000 shares
|
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
Capital Paid |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
Retained Earning -Unappropriated [Deficit] |
[56,978,344.26] |
[57,054,822.72] |
36,962,113.18 |
|
Total Shareholders’ Equity |
143,021,655.74 |
142,945,177.28 |
236,962,113.18 |
|
Total Liabilities and
Shareholders’ Equity |
1,263,684,112.30 |
1,387,766,990.66 |
1,387,137,595.78 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
Feb. 28, 2017 |
Feb. 28, 2016 |
Feb. 29, 2015 |
|
|
|
|
|
|
Sales or Services Income |
2,204,864,638.32 |
2,217,067,545.10 |
2,831,880,502.26 |
|
Other Income |
14,893,416.42 |
6,552,908.05 |
5,346,111.70 |
|
Total Revenues |
2,219,758,054.74 |
2,223,620,453.15 |
2,837,226,613.96 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
1,953,968,302.56 |
2,029,226,296.43 |
2,594,799,358.82 |
|
Selling Expenses |
77,915,597.99 |
67,428,197.41 |
96,108,662.74 |
|
Administrative Expenses |
132,504,531.05 |
175,716,595.60 |
120,037,180.78 |
|
Other Expenses |
- |
721,989.18 |
5,204,286.88 |
|
Total Expenses |
2,164,388,431.60 |
2,273,093,078.62 |
2,816,149,489.22 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost and Income Tax |
55,369,623.14 |
[49,472,625.47] |
21,077,124.74 |
|
Financial Cost |
[37,834,110.12] |
[40,026,709.20] |
[41,266,096.19] |
|
|
|
|
|
|
Profit /[Loss] before Income
Tax |
17,535,513.02 |
[89,499,334.67] |
[20,188,971.45] |
|
Income Tax |
[17,459,034.56] |
[4,517,601.23] |
[4,943,782.30] |
|
Net Profit / [Loss] |
76,478.46 |
[94,016,935.90] |
[25,132,753.75] |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2017 |
2016 |
2015 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.01 |
1.01 |
1.11 |
|
QUICK RATIO |
TIMES |
0.43 |
0.39 |
0.63 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
17.33 |
16.09 |
19.33 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.74 |
1.60 |
2.04 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
98.91 |
108.06 |
71.47 |
|
INVENTORY TURNOVER |
TIMES |
3.69 |
3.38 |
5.11 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
63.13 |
62.36 |
77.39 |
|
RECEIVABLES TURNOVER |
TIMES |
5.78 |
5.85 |
4.72 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
9.50 |
15.00 |
13.35 |
|
CASH CONVERSION CYCLE |
DAYS |
152.53 |
155.41 |
135.51 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
88.62 |
91.53 |
91.63 |
|
SELLING & ADMINISTRATION |
% |
9.54 |
10.97 |
7.63 |
|
INTEREST |
% |
1.72 |
1.81 |
1.46 |
|
GROSS PROFIT MARGIN |
% |
12.05 |
8.77 |
8.56 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.51 |
(2.23) |
0.74 |
|
NET PROFIT MARGIN |
% |
0.00 |
(4.24) |
(0.89) |
|
RETURN ON EQUITY |
% |
0.05 |
(65.77) |
(10.61) |
|
RETURN ON ASSET |
% |
0.01 |
(6.77) |
(1.81) |
|
EARNING PER SHARE |
BAHT |
3.82 |
(4,700.85) |
(1,256.64) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.89 |
0.90 |
0.83 |
|
DEBT TO EQUITY RATIO |
TIMES |
7.84 |
8.71 |
4.85 |
|
TIME INTEREST EARNED |
TIMES |
1.46 |
(1.24) |
0.51 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(0.55) |
(21.71) |
|
|
OPERATING PROFIT |
% |
(211.92) |
(334.72) |
|
|
NET PROFIT |
% |
100.08 |
(274.08) |
|
|
FIXED ASSETS |
% |
(7.68) |
(5.90) |
|
|
TOTAL ASSETS |
% |
(8.94) |
0.05 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -0.55%. Turnover has decreased from THB
2,217,067,545.10 in 2016 to THB 2,204,864,638.32 in 2017. While net profit has
increased from THB -94,016,935.90 in 2016 to THB 76,478.46 in 2017. And total
assets has decreased from THB 1,387,766,990.66 in 2016 to THB 1,263,684,112.30
in 2017.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
12.05 |
Impressive |
Industrial Average |
- |
|
Net Profit Margin |
0.00 |
Impressive |
Industrial Average |
(2.87) |
|
Return on Assets |
0.01 |
Impressive |
Industrial Average |
(3.37) |
|
Return on Equity |
0.05 |
Impressive |
Industrial Average |
(9.74) |
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. Gross Profit Margin is 12.05%. When compared with the industry
average, the ratio of the company was higher, indicated that company was more
profitable than the same industry.
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 0%, higher figure when compared with those of its
average competitors in the same industry, indicated that business was an
efficient operator in a dominant position within its industry.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. Return on Assets ratio is
0.01%, 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.
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 0.05%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.01 |
Impressive |
Industrial Average |
0.76 |
|
Quick Ratio |
0.43 |
|
|
|
|
Cash Conversion Cycle |
152.53 |
|
|
|
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 1.01 times in 2017, same figure as in 2016,
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 0.43 times in 2017,
increase from 0.39 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 153 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 |
0.54 |
|
Debt to Equity Ratio |
7.84 |
Risky |
Industrial Average |
1.17 |
|
Times Interest Earned |
1.46 |
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 1.47 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
17.33 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.74 |
Impressive |
Industrial Average |
1.17 |
|
Inventory Conversion Period |
98.91 |
|
|
|
|
Inventory Turnover |
3.69 |
Satisfactory |
Industrial Average |
4.11 |
|
Receivables Conversion Period |
63.13 |
|
|
|
|
Receivables Turnover |
5.78 |
Impressive |
Industrial Average |
5.42 |
|
Payables Conversion Period |
9.50 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.78 and 5.85 in
2017 and 2016 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate revenue. A lower ratio may indicate
over extension and collection problems. Conversely, a higher ratio may indicate
an overtly stringent policy. In this case, the company's A/R ratio in 2017
decreased from 2016. This would suggest the company had deteriorated in the
management of its debt collections.
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 2016 to 99 days at the end of 2017. This represents a positive trend.
And Inventory turnover has increased from 3.38 times in year 2016 to 3.69 times
in year 2017.
The company's Total Asset Turnover is calculated as 1.74 times and 1.6
times in 2017 and 2016 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 |
INR 65.35 |
|
|
1 |
INR 92.70 |
|
Euro |
1 |
INR 80.80 |
|
Thai Baht |
1 |
INR 2.09 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
TPT |
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.