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|
MIRA
INFORM REPORT
|
Report No. : |
491177 |
|
Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SONG CHAI COMPANY
LIMITED |
|
|
|
|
Registered Office : |
54 Charoennakorn Road, Banglampoolang, Klongsan, Bangkok
10600 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
10.01.1989 |
|
|
|
|
Com. Reg. No.: |
0105532002796 [Former: 279/2532] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is
engaged in distributing various
kinds of carbon
steel and stainless
steel materials, as
well as special
materials such as
SUS 310/310S, 321/321H,
347/347H, 317L, 904L, Duplex,
Nickel Alloy, Hastelloy, Titanium in
all forms-pipes, tubes,
fittings, flanges, plates
and bars, mainly
used in oil & gas, refinery,
petrochemical and power
plant. |
|
|
|
|
No. of Employees : |
70 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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
SONG CHAI COMPANY
LIMITED
SUMMARY
BUSINESS ADDRESS : 54
CHAROENNAKORN ROAD,
BANGLAMPOOLANG,
KLONGSAN, BANGKOK
10600, THAILAND
TELEPHONE : [66] 2862-4601-3, 2438-7699,
2438-2795, 2437-1949, 085
446-7877
FAX : [66] 2862-4604
E-MAIL ADDRESS : songchai_thailand@yahoo.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1989
REGISTRATION NO. : 0105532002796 [Former: 279/2532]
TAX ID NO. : 3101588149
CAPITAL REGISTERED : BHT.
5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
KAMCHAI SIRISRISAMRIT, THAI
MANAGING DIRECTOR
NO. OF STAFF : 70
LINES OF BUSINESS : CARBON
STEEL, STAINLESS STEEL AND
SPECIAL
MATERIAL IMPORTER AND
DISTRIBUTOR
|
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 January 10,
1989 as a
private limited company under
the registered name
SONG CHAI COMPANY
LIMITED, by Thai
groups, in order to import
and distribute carbon
steel, stainless steel
and special materials
for various industries.
It currently employs
approximately 70 staff.
The subject’s registered
address is 54
Charoennakorn Rd., Banglampoolang, Klongsan,
Bangkok 10600, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Kamchai Sirisrisamrit |
|
Thai |
56 |
AUTHORIZED PERSON
The above director
signs on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Kamchai Sirisrisamrit is
the Managing Director.
He is Thai
nationality with the
age of 56
years old.
BUSINESS OPERATION
The subject is
engaged in distributing
various kinds of
carbon steel and
stainless steel materials,
as well as
special materials such
as SUS 310/310S,
321/321H, 347/347H, 317L, 904L, Duplex, Nickel Alloy, Hastelloy,
Titanium in all forms-pipes,
tubes, fittings, flanges,
plates and bars,
mainly used in oil
& gas, refinery, petrochemical and
power plant.
MAJOR BRANDS
“ULMA” : Spain
“KAWAZAKI”, “NIPPON STEEL” : Japan
“MEGA” : Italy
PURCHASE
80% of its
products is imported
from United States
of America, Japan,
Singapore, Korea, Taiwan,
Germany, Italy, Spain,
Republic of China,
and the remaining
20% is purchased locally.
MAJOR SUPPLIERS
Nippon Steel Corporation : Japan
Bangkok Special Steel
Co., Ltd. : Thailand
Mega Steel Pipe
Corporation : Japan
Ulma Piping S.A. : Spain
SALES [LOCAL]
100% of the
products is sold
locally by wholesale
to traders, manufacturers
and end-users.
MAJOR CUSTOMERS
Boonlert Lohakit Co.,
Ltd. : Thailand
Thai Oil Public
Company Limited : Thailand
PTT Public Company
Limited : Thailand
IRPC Public Company
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
and T/T.
BUSINESS TRANSACTION
The products are sold to
customers both by
cash and credit
with the credit given at
30-60 days. There is no
problem on its
account receivable.
BANKING
Krung Thai Bank
Public Company Limited
[Head Office :
35 Sukhumvit Rd., Klongtoeynua,
Wattana, Bangkok 10110]
[Charoennakorn Branch
: 5/1 Charoennakorn Rd., Banglampoolang, Klongsan,
Bangkok 10600]
Bangkok Bank Public
Company Limited
EMPLOYMENT
The subject employs
approximately 70 office &
sales staff and
workers.
LOCATION DETAILS
The premise is
owned for administrative office
in a 3.5
storey building of 1 row
shop house at the
heading address. Premise
is located in
commercial/residential area.
Warehouses :
- 37974/28 Moo
1, T. Huaypong,
A. Muang, Rayong
21000.
- 105 Soi
Charoennakorn 34, Charonnakorn
Road, Banglampoolang, Klongsan,
Bangkok 10600.
COMMENT
The subject is
a stock and distributor of carbon
steel, stainless steel
and special materials.
With the large
stock program, it can
serve and meet any
requirement of materials
at all time.
Its warehouses are
operating at high efficiency, and full with quality
of products. This
has enabled the subject
a commitment to
the concept of
absolute consistency in
products supply. The subject’s
business remains strong
and profitable.
FINANCIAL INFORMATION
The capital was registered
at Bht. 500,000
divided into 5,000
shares of Bht.
100 each.
The capital was
increased later as
follows:
Bht. 5,000,000
on January 31,
2001
Bht. 12,000,000
on May 10,
2001
On May 18,
2009, the registered
capital was decreased
to Bht. 5,000,000
divided into 50,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE: [ as at
July 12, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Kamchai Sirisrisamrit Nationality: Thai Address : 54
Charoennakorn Rd.,
Banglampoolang, Klongsan, Bangkok
10600 |
26,000 |
52.00 |
|
Mrs. Angkana Thinpang-nga Nationality: Thai Address : 54
Charoennakorn Rd.,
Banglampoolang, Klongsan, Bangkok
10600 |
8,000 |
16.00 |
|
Ms. Suvimol Sirisrisamrit Nationality: Thai Address : 54
Charoennakorn Rd.,
Banglampoolang, Klongsan, Bangkok
10600 |
7,250 |
14.50 |
|
Ms. Supetcharama Sirisrisamrit Nationality: Thai Address : 54
Charoennakorn Rd., Banglampoolang, Klongsan,
Bangkok 10600 |
7,250 |
14.50 |
|
Mr. Natapol Thinpang-nga Nationality: Thai Address : 54
Charoennakorn Rd.,
Banglampoolang, Klongsan, Bangkok
10600 |
1,200 |
2.40 |
|
Mr. Thiti Sirisrisamrit Nationality: Thai Address : 54
Charoennakorn Rd.,
Banglampoolang, Klongsan, Bangkok
10600 |
200 |
0.40 |
|
Ms. Charin Kasemsuk Nationality: Thai Address : 54
Charoennakorn Rd., Banglampoolang, Klongsan,
Bangkok 10600 |
100 |
0.20 |
Total Shareholders : 7
Share Structure [as
at July 12,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
50,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
50,000 |
100.00 |
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.:
Ms. Sathavee Chuensaensuk No.
10465
BALANCE SHEET [BAHT]
The latest financial
figures published for December
31, 2016, 2015
and 2014 were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash Equivalents |
132,906.97 |
299,776.68 |
774,417.24 |
|
Short-term Investment |
15,557,973.44 |
19,557,973.44 |
6,800,000.00 |
|
Trade Accounts and
Other Receivable |
103,217,627.43 |
58,414,215.12 |
69,214,626.13 |
|
Inventories |
2,090,973.61 |
8,365,273.50 |
7,389,430.19 |
|
Other Current Assets |
15,087,751.29 |
15,067,588.63 |
6,111,368.90 |
|
Total Current Assets
|
136,087,232.74 |
101,704,827.37 |
90,289,842.46 |
|
|
|
|
|
|
Investment in Subsidiaries |
4,500,000.00 |
4,500,000.00 |
4,500,000.00 |
|
Property, Plant and
Equipment |
5,494,462.51 |
4,978,060.52 |
1,982,717.63 |
|
Intangible Assets |
265.68 |
- |
- |
|
Other Non-current Assets |
9,219,844.21 |
185,750.00 |
27,500.00 |
|
Total Assets |
155,301,805.14 |
111,368,637.89 |
96,800,060.09 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and Short-term Loan From Financial Institutions |
94,974,533.43 |
61,985,749.74 |
38,439,763.52 |
|
Trade Accounts and Other
Payable |
25,624,985.85 |
16,528,559.72 |
32,214,200.72 |
|
Current Portion of Long-term Liabilities |
3,139,048.58 |
3,139,048.58 |
504,925.61 |
|
Accrued Income Tax |
819,267.77 |
150,141.83 |
1,203,747.95 |
|
Other Current Liabilities |
82,376.37 |
107,570.64 |
212,723.22 |
|
Total Current Liabilities |
124,640,212.00 |
81,911,070.51 |
72,575,361.02 |
|
|
|
|
|
|
Long-term Loan |
2,509,078.26 |
5,673,804.96 |
2,614,687.47 |
|
Total Liabilities |
127,149,290.26 |
97,584,875.47 |
75,190,048.49 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, and
issued share capital
50,000 shares
|
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Capital Paid |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earning : [Deficit] Appropriated Statutory
reserve |
2,250,000.00 |
2,250,000.00 |
2,250,000.00 |
|
Unappropriated |
20,902,514.88 |
16,533,762.42 |
14,360,011.60 |
|
Total Shareholders’ Equity |
28,152,514.88 |
23,783,762.42 |
21,610,011.60 |
|
Total Liabilities and
Shareholders’ Equity |
155,301,805.14 |
111,368,637.89 |
96,800,060.09 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
137,954,818.64 |
110,640,429.58 |
133,756,730.28 |
|
Interest Income |
- |
169,014.17 |
- |
|
Other Income |
1,145,247.02 |
656,461.25 |
51,264.10 |
|
Total Revenues |
139,100,065.66 |
111,465,905.00 |
133,807,994.38 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
101,958,329.39 |
84,640,269.80 |
106,980,224.35 |
|
Selling Expenses |
5,397,764.86 |
3,698,122.51 |
3,113,474.14 |
|
Administrative Expenses |
21,732,888.04 |
16,608,096.98 |
14,913,852.66 |
|
Total Expenses |
129,088,982.29 |
104,946,489.29 |
125,007,551.15 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost and Income Tax |
10,011,083.37 |
6,519,415.71 |
8,800,443.23 |
|
Financial Cost |
[4,532,413.44] |
[3,787,138.31] |
[3,661,438.55] |
|
|
|
|
|
|
Profit /[Loss] before Income
Tax |
5,478,669.93 |
2,732,277.40 |
5,139,004.68 |
|
Income Tax |
[1,109,917.47] |
[558,526.58] |
[1,034,121.64] |
|
Net Profit / [Loss] |
4,368,752.46 |
2,173,750.82 |
4,104,883.04 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.09 |
1.24 |
1.24 |
|
QUICK RATIO |
TIMES |
0.95 |
0.96 |
1.06 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
25.11 |
22.23 |
67.46 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.89 |
0.99 |
1.38 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
7.49 |
36.07 |
25.21 |
|
INVENTORY TURNOVER |
TIMES |
48.76 |
10.12 |
14.48 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
273.09 |
192.71 |
188.88 |
|
RECEIVABLES TURNOVER |
TIMES |
1.34 |
1.89 |
1.93 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
91.73 |
71.28 |
109.91 |
|
CASH CONVERSION CYCLE |
DAYS |
188.84 |
157.50 |
104.18 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
73.91 |
76.50 |
79.98 |
|
SELLING & ADMINISTRATION |
% |
19.67 |
18.35 |
13.48 |
|
INTEREST |
% |
3.29 |
3.42 |
2.74 |
|
GROSS PROFIT MARGIN |
% |
26.92 |
24.25 |
20.06 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.26 |
5.89 |
6.58 |
|
NET PROFIT MARGIN |
% |
3.17 |
1.96 |
3.07 |
|
RETURN ON EQUITY |
% |
15.52 |
9.14 |
19.00 |
|
RETURN ON ASSET |
% |
2.81 |
1.95 |
4.24 |
|
EARNING PER SHARE |
BAHT |
87.38 |
43.48 |
82.10 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.82 |
0.79 |
0.78 |
|
DEBT TO EQUITY RATIO |
TIMES |
4.52 |
3.68 |
3.48 |
|
TIME INTEREST EARNED |
TIMES |
2.21 |
1.72 |
2.40 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
24.69 |
(17.28) |
|
|
OPERATING PROFIT |
% |
53.56 |
(25.92) |
|
|
NET PROFIT |
% |
100.98 |
(47.04) |
|
|
FIXED ASSETS |
% |
10.37 |
151.07 |
|
|
TOTAL ASSETS |
% |
39.45 |
15.05 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 24.69%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
26.92 |
Impressive |
Industrial Average |
10.15 |
|
Net Profit Margin |
3.17 |
Impressive |
Industrial Average |
1.08 |
|
Return on Assets |
2.81 |
Impressive |
Industrial Average |
2.71 |
|
Return on Equity |
15.52 |
Impressive |
Industrial Average |
8.52 |
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 26.92%. 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 3.17%,
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
2.81%, 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 15.52%, 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 |
1.09 |
Satisfactory |
Industrial Average |
1.37 |
|
Quick Ratio |
0.95 |
|
|
|
|
Cash Conversion Cycle |
188.84 |
|
|
|
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 1.09 times in 2016, decrease from 1.24 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 0.95 times in 2016,
decrease from 0.96 times, by excluding inventory, the company may have problems
meeting current liabilities.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 189 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.82 |
Acceptable |
Industrial Average |
0.67 |
|
Debt to Equity Ratio |
4.52 |
Risky |
Industrial Average |
2.05 |
|
Times Interest Earned |
2.21 |
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 2.21 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 0.82 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 |
25.11 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.89 |
Acceptable |
Industrial Average |
2.50 |
|
Inventory Conversion Period |
7.49 |
|
|
|
|
Inventory Turnover |
48.76 |
Impressive |
Industrial Average |
8.20 |
|
Receivables Conversion Period |
273.09 |
|
|
|
|
Receivables Turnover |
1.34 |
Acceptable |
Industrial Average |
4.78 |
|
Payables Conversion Period |
91.73 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.34 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 decreased from 36 days at the
end of 2015 to 7 days at the end of 2016. This represents a positive trend. And
Inventory turnover has increased from 10.12 times in year 2015 to 48.76 times
in year 2016.
The company's Total Asset Turnover is calculated as 0.89 times and 0.99
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 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.93 |
|
Thai Baht |
1 |
INR 2.04 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
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.