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MIRA
INFORM REPORT
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Report No. : |
504799 |
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Report Date : |
20.04.2018 |
IDENTIFICATION DETAILS
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Name : |
THAI UNITED GLASS FIBRE COMPANY LIMITED |
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Registered Office : |
22 Moo 10, Bangna-Tard Road, T. Bangkaew, A. Bangplee, Samutprakarn 10540 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
02.07.1979 |
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Com. Reg. No.: |
0105522012667 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The subject is
engaged in manufacturing, distributing and
exporting fiber glasses
for battery industry. |
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No. of Employees : |
300 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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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
THAI
UNITED GLASS FIBRE
COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 22
MOO 10, BANGNA-TARD
ROAD,
T. BANGKAEW,
A. BANGPLEE,
SAMUTPRAKARN 10540,
THAILAND
TELEPHONE : [66] 2316-7055,
2751-7063-4, 2316-6022
FAX :
[66] 2316-8337,
2751-7065, 2316-8659
E-MAIL
ADDRESS : exportdept@thaiunited.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1979
REGISTRATION
NO. : 0105522012667
TAX
ID NO. : 3101109153
CAPITAL REGISTERED : BHT. 16,000,000
CAPITAL PAID-UP : BHT.
16,000,000
SHAREHOLDER’S PROPORTION : THAI :
74.75%
FOREIGN :
25.25%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SOMCHAI VONGSCHANPHEN, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 300
LINES
OF BUSINESS : FIBER
GLASSES FOR BATTERY
PRODUCTION
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on July 2,
1979 as a
private limited company
under the registered
name THAI UNITED
GLASS FIBRE COMPANY
LIMITED, by Thai
and foreign groups, in
order to manufacture,
distribute and export fiber
glasses for battery production.
It currently employs
approximately 300 staff.
The
subject’s registered address
is 22 Moo
10, Bangna-Trad Rd.,
T. Bangkaew,
A. Bangplee,
Samutprakarn 10540, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somchai Vongschanphen |
[x] |
Thai |
77 |
|
Mrs. Nalinee Vongschanphen |
[x] |
Thai |
75 |
|
Mr. Kingyuth Vongchanphen |
[x] |
Thai |
44 |
|
Mr. Tony, Chau-Hai Chen |
[x] |
Thai |
82 |
|
Mr. Richard Chen |
|
Taiwanese |
55 |
|
Mr. Seng Hooi Goh |
|
Thai |
50 |
|
Mr. Kingyong Vongchanphen |
|
Thai |
47 |
|
Ms. Somporn Vongschanphen |
|
Thai |
78 |
AUTHORIZED PERSON
Two of
the mentioned directors [x] can
jointly sign on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Somchai Vongschanphen is
the Managing Director.
He is Thai
nationality with the
age of 77
years old.
Mr. Kingyong Vongchanphen is
the Deputy Managing
Director and Factory
Manager.
He is Thai
nationality with the
age of 47
years old.
Mr. Kingyuth Vongchanphen is
the Deputy Managing
Director and Sales
Manager.
He is Thai
nationality with the
age of 44
years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, distributing
and exporting fiber
glasses for
battery industry.
PRODUCTION CAPACITY
4,000,000 sheets per
annum
PURCHASE
Raw materials such
as glass scrap
and chemical are
purchased from suppliers
both domestic and
overseas, mainly in
Republic of China,
Singapore, Japan, India
and Malaysia.
MAJOR SUPPLIERS
Thai United Plastic
Industry Co., Ltd. :
Thailand
Thai-MC Company Limited : Thailand
SALES
80% of the
products is exported
to France, United
Kingdom, Italy, Pakistan,
U.S.A., Japan, India,
Republic of China,
Malaysia, Vietnam, Taiwan,
Singapore and Germany,
the remaining 20%
is sold locally.
MAJOR CUSTOMERS
Exide Industries Ltd. : India
Atlas Battery Ltd. : Pakistan
RELATED AND AFFILIATED
COMPANIES
Thai United Industry
Co., Ltd.
Business Type :
Manufacturer of high
performance battery separators
Thai United Plastic
Industry Co., Ltd.
Business Type :
Manufacturer of high
quality battery container
set
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
Bangkok Bank Public
Company Limited
Krung Thai Bank
Public Company Limited
Kasikornbank Public Company
Limited
EMPLOYMENT
The
subject employs approximately
300 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is located
in industrial area.
Factory
and Warehouse:
Factory
I : 858/1
Moo 4, Banpoo Industrial
Estate, Sukhumvit Rd.,
T. Praeksa,
A.
Muang,
Samutprakarn 10280
Tel. : [66] 2709-4460-1, Fax. :
[66] 2709-4341
Factory
II : 595 Moo
2, T. Bangpoomai, A. Muang,
Samutprakarn 10280
COMMENT
The
subject’s operating performance
in 2016 was
outstanding with an
increase in sales
or service income
and net profit
comparing to the
previous year. This
was mainly due
to effective market
expansion in overseas
markets in the
past year. Consumption
of fiber glass
for battery production
remains strong.
The
subject’s business is
solid with a
steady growth.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 16,000,000
divided into 16,000
shares of Bht. 1,000
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
May 31, 2017]
|
NAME |
HOLDING
|
% |
|
|
|
|
|
Mrs. Nalinee Vongschanphen Nationality: Thai Address : 83/2
Ekamai Rd., Klongton,
Prakanong, Bangkok |
2,700 |
16.87 |
|
Mr. Somchai Vongschanphen Nationality: Thai Address : 85
Soi Chalermkhet 2, Watthepsirin,
Pomprab, Bangkok |
2,480 |
15.50 |
Mr. Tony, Chau-Hai
Chen
Nationality: Thai Address : 27/44
Sukhumvit 19 Rd.,
Klongtoeynua,
Klongtoey, Bangkok |
1,700 |
10.63 |
Mr. Seng Hooi
Goh
Nationality: Thai Address : 217-223
Yaowaraj Rd., Samphantawong, Bangkok |
1,600 |
10.00 |
|
Mrs. Kathy, Wang Lee
Chu Zen Nationality: Thai Address : 27/44
Sukhumvit 19 Rd.,
Klongtoeynua,
Klongtoey, Bangkok |
1,300 |
8.12 |
|
Mr. Richard Chen Nationality: Taiwanese Address : 8
Nanjing West Rd.,
Taiwan |
1,000 |
6.25 |
|
Mrs. Lin, Mei Yun
Wang Nationality: Taiwanese Address : 8
Nanjing West Rd.,
Taiwan |
1,000 |
6.25 |
|
Ms. Chen I-Ching Nationality: Taiwanese Address : 8
Nanjing West Rd.,
Taiwan |
1,000 |
6.25 |
|
Ms. Somporn Vongschanphen Nationality: Thai Address : 217
Yaowaraj Rd., Samphantawong, Bangkok |
960 |
6.00 |
|
Mrs. Miki Muramatsu Nationality: Japanese Address : Tokyo,
Japan |
640 |
4.00 |
|
Mr. Kingyong Vongchanphen Nationality: Thai Address : 83/2 Soi Charoenjai, Ekamai
Rd., Klongton,
Phrakanong, Bankgok |
620 |
3.88 |
|
Ms. Kongkaew Vongschanphen Nationality: Thai Address : 83/2 Soi Charoenjai, Ekamai
Rd., Klongton,
Phrakanong, Bankgok |
600 |
3.75 |
|
Mr. Chen Jun
Jia Nationality: Taiwanese Address : Tainan,
Taiwan |
400 |
2.50 |
Total Shareholders : 13
SHARE STRUCTURE [AS
AT MAY 31,
2017]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
8 |
11,960 |
74.75 |
|
Foreign |
5 |
4,040 |
25.25 |
|
Total |
13 |
16,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Suthep Dansiriviroj No.
3855
Financials
THAI UNITED GLASS
FIBRE COMPANY LIMITED
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 |
243,350,933.74 |
198,749,293.12 |
61,540,478.94 |
|
Trade Accounts and Other Receivable |
34,994,334.69 |
20,839,674.03 |
34,269,752.70 |
|
Inventories |
13,416,962.55 |
10,167,086.50 |
16,606,318.30 |
|
Other Current Assets
|
19,375,937.56 |
13,387,444.22 |
11,773,502.60 |
|
|
|
|
|
|
Total Current Assets
|
311,138,168.54 |
243,143,497.87 |
124,190,052.54 |
|
|
|
|
|
|
Property, Plant and Equipment |
215,260,887 |
213,137,097.22 |
230,822,005.99 |
|
Total Assets |
526,399,055.54 |
456,280,595.09 |
355,012,058.53 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and Loan from Bank |
- |
- |
157,918.45 |
|
Trade Accounts and
Other Payable |
30,839,476.79 |
37,033,825.00 |
28,776,842.32 |
|
Accrued Income Tax |
30,910,409.02 |
27,491,493.57 |
18,388,235.31 |
|
Other Current Liabilities |
21,884,881.51 |
24,637,534.20 |
18,480,395.49 |
|
|
|
|
|
|
Total Current Liabilities |
83,634,767.32 |
89,162,852.77 |
65,803,391.57 |
|
|
|
|
|
|
Employee Benefits Obligation |
1,907,360.00 |
1,626,860.00 |
1,441,460.00 |
|
Total Liabilities |
85,542,127.32 |
90,789,712.77 |
67,244,851.57 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized and
issued share capital
16,000 shares |
16,000,000.00 |
16,000,000.00 |
16,000,000.00 |
|
|
|
|
|
|
Capital Paid |
16,000,000.00 |
16,000,000.00 |
16,000,000.00 |
|
Retained Earnings: Appropriated for statutory
reserve |
16,000,000.00 |
16,000,000.00 |
16,000,000.00 |
|
Unappropriated |
408,856,928.22 |
333,490,882.32 |
255,767,206.96 |
|
Total Shareholders' Equity |
440,856,928.22 |
365,490,882.32 |
287,767,206.96 |
|
Total Liabilities and
Shareholders' Equity |
526,399,055.54 |
456,280,595.09 |
355,012,058.53 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
466,945,439.96 |
465,521,952.81 |
421,333,509.50 |
|
Other Income |
11,768,948.05 |
13,788,173.46 |
10,159,771.09 |
|
Total Revenues |
478,714,388.01 |
479,310,126.27 |
431,493,280.59 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
237,200,076.38 |
258,453,360.46 |
261,552,789.69 |
|
Selling Expenses |
42,075,558.39 |
42,317,629.04 |
42,768,031.68 |
|
Administrative Expenses |
45,162,298.32 |
41,323,967.84 |
35,182,629.77 |
|
Total Expenses |
324,437,933.09 |
342,094,957.34 |
339,503,451.14 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
154,276,454.92 |
137,215,168.93 |
91,989,829.45 |
|
Financial Cost |
- |
- |
[724,760.28] |
|
Profit / [Loss] before Income Tax |
154,276,454.92 |
137,215,168.93 |
91,265,069.17 |
|
Income Tax |
[30,910,409.02] |
[27,491,493.57] |
[18,388,235.31] |
|
Net Profit / [Loss] |
123,366,045.90 |
109,723,675.36 |
72,876,833.86 |
|
Retained Earning,
Beginning of Year |
365,490,882.32 |
255,767,206.96 |
198,890,373.10 |
|
Less: Dividend |
- |
- |
[16,000,000.00] |
|
|
|
|
|
|
Retained Earning, End
of Year |
488,856,928.22 |
365,490,882.32 |
255,767,206.96 |
THAI UNITED
GLASS FIBRE COMPANY
LIMITED
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.72 |
2.73 |
1.89 |
|
QUICK RATIO |
TIMES |
3.33 |
2.46 |
1.46 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.17 |
2.18 |
1.83 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.89 |
1.02 |
1.19 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
20.65 |
14.36 |
23.17 |
|
INVENTORY TURNOVER |
TIMES |
17.68 |
25.42 |
15.75 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
27.35 |
16.34 |
29.69 |
|
RECEIVABLES TURNOVER |
TIMES |
13.34 |
22.34 |
12.29 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
47.46 |
52.30 |
40.16 |
|
CASH CONVERSION CYCLE |
DAYS |
0.54 |
(21.60) |
12.70 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
50.80 |
55.52 |
62.08 |
|
SELLING & ADMINISTRATION |
% |
18.68 |
17.97 |
18.50 |
|
INTEREST |
% |
- |
- |
0.17 |
|
GROSS PROFIT MARGIN |
% |
51.72 |
47.44 |
40.33 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
33.04 |
29.48 |
21.83 |
|
NET PROFIT MARGIN |
% |
26.42 |
23.57 |
17.30 |
|
RETURN ON EQUITY |
% |
27.98 |
30.02 |
25.32 |
|
RETURN ON ASSET |
% |
23.44 |
24.05 |
20.53 |
|
EARNING PER SHARE |
BAHT |
123,366.05 |
109,723.68 |
72,876.83 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.16 |
0.20 |
0.19 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.19 |
0.25 |
0.23 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
126.92 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
0.31 |
10.49 |
|
|
OPERATING PROFIT |
% |
12.43 |
49.16 |
|
|
NET PROFIT |
% |
12.43 |
50.56 |
|
|
FIXED ASSETS |
% |
1.00 |
(7.66) |
|
|
TOTAL ASSETS |
% |
15.37 |
28.53 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 0.31%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
51.72 |
Impressive |
Industrial Average |
- |
|
Net Profit Margin |
26.42 |
Impressive |
Industrial Average |
25.77 |
|
Return on Assets |
23.44 |
Satisfactory |
Industrial Average |
25.11 |
|
Return on Equity |
27.98 |
Satisfactory |
Industrial Average |
30.60 |
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 51.72%. 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 26.42%,
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 23.44%.
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 27.98%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Downtrend
LIQUIDITY :
EXCELLENT
LIQUIDITY RATIO
|
Current Ratio |
3.72 |
Impressive |
Industrial Average |
3.72 |
|
Quick Ratio |
3.33 |
|
|
|
|
Cash Conversion Cycle |
0.54 |
|
|
|
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 3.72 times in 2016, increase from 2.73 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 3.33 times in 2016,
increase from 2.46 times, although excluding inventory so the company still
have good short-term financial strength.
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 1 day.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.16 |
Acceptable |
Industrial Average |
0.16 |
|
Debt to Equity Ratio |
0.19 |
Impressive |
Industrial Average |
0.19 |
|
Times Interest Earned |
- |
|
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 lower the percentage means that the company is
using less leverage and has a stronger equity position.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.16 less than 0.5, most of the company's
assets are financed through equity.
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 |
2.17 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.89 |
Satisfactory |
Industrial Average |
0.97 |
|
Inventory Conversion Period |
20.65 |
|
|
|
|
Inventory Turnover |
17.68 |
Satisfactory |
Industrial Average |
20.12 |
|
Receivables Conversion Period |
27.35 |
|
|
|
|
Receivables Turnover |
13.34 |
Satisfactory |
Industrial Average |
17.15 |
|
Payables Conversion Period |
47.46 |
|
|
|
The company's Account Receivable Ratio is calculated as 13.34 and
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has increased from 14 days at the
end of 2015 to 21 days at the end of 2016. This represents a negative trend.
And Inventory turnover has decreased from 25.42 times in year 2015 to 17.68
times in year 2016.
The company's Total Asset Turnover is calculated as 0.89 times and 1.02
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 Downtrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.68 |
|
|
1 |
INR 93.98 |
|
Euro |
1 |
INR 81.30 |
|
Thai baht |
1 |
INR 2.11 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SYL |
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.