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MIRA INFORM REPORT
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Report No. : |
493353 |
|
Report Date : |
24.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
THAI TOKAI CARBON
PRODUCT CO., LTD. |
|
|
|
|
Registered Office : |
9th Floor, Harindhorn
Tower, North Sathorn Road, Silom, Bangrak, Bangkok 10500 |
|
|
|
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Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
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|
|
|
Date of Incorporation : |
19.10.1989 |
|
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Com. Reg. No.: |
0105532100151 |
|
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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 carbon black,
the reinforcing agent
in the production
of tyres, and
also used to
produce wiper ribbons, floor mats,
engine mounts and
hosed for all
types of vehicles,
as well as
being an essential
element in paint, printing
ink, plastic compound,
electric conductors, battery
and a broad
range of rubber
products. |
|
|
|
|
No. of Employees : |
250 |
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 : |
Satisfactory |
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|
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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 |
|
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
THAI TOKAI CARBON
PRODUCT CO., LTD.
SUMMARY
BUSINESS ADDRESS : 9TH FLOOR,
HARINDHORN TOWER, NORTH SATHORN
ROAD, SILOM,
BANGRAK, BANGKOK 10500, THAILAND
TELEPHONE : [66] 2266-3232
FAX : [66] 2266-3230
E-MAIL ADDRESS : kitti.t@tcp.co.th
winai@tcp.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1989
REGISTRATION NO. : 0105532100151
TAX ID NO. : 3101762808
CAPITAL REGISTERED : BHT.
800,000,000
CAPITAL PAID-UP : BHT.
800,000,000
SHAREHOLDER’S PROPORTION : JAPANESE :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
SHUNJI YAMAMOTO, JAPANESE
MANAGING DIRECTOR
NO. OF STAFF : 250
LINES OF BUSINESS : CARBON BLACK
MANUFACTURER, DISTRIBUTOR AND EXPORTER
|
CORPORATE PROFILE |
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was established
on October 19, 1989
as a private limited
company under the
originally registered name “Thai
Carbon Product Co., Ltd.”
by Japanese groups. On
October 2, 2000, its
name was changed to THAI TOKAI
CARBON PRODUCT CO.,
LTD. Its business objective
is a manufacturer,
distributor and exporter
of carbon black
for tyre and
other related industries.
Since 2017, the
subject has become
a wholly owned
subsidiary of Tokai
Carbon Co., Ltd.,
Japan. It currently
employs approximately 250
staff.
The subject’s registered
address is 9th Floor,
Harindhorn Tower, 54
North Sathorn Rd.,
Silom, Bangrak, Bangkok
10500, and this
is the subject’s
current operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somkiert Hudthagosol |
[x] |
Thai |
68 |
|
Mr. Chalaluck Bunnag |
|
Thai |
71 |
|
Mr. Takashi Masaki |
[x] |
Japanese |
- |
|
Mr. Tatsuhiko Yamazaki |
|
Japanese |
- |
|
Mr. Shunji Yamamoto |
[x] |
Japanese |
- |
|
Mr. Samart Vijitpawan |
[x] |
Thai |
58 |
|
Mr. Hirofumi Matsuda |
|
Japanese |
- |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Shunji Yamamoto is
the Managing Director.
He is Japanese
nationality.
Mr. Hirofumi Matsuda is
the Deputy Managing
Director.
He is Japanese
nationality.
Mr. Toru Araki is
the Factory Manager.
He is Japanese
nationality.
Mr. Kitti Tankittibutr is
the Marketing Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, distributing
and exporting carbon
black, the reinforcing
agent in the
production of tyres,
and also used
to produce wiper
ribbons, floor mats, engine
mounts and hosed
for all types
of vehicles, as
well as being
an essential element
in paint, printing ink,
plastic compound, electric
conductors, battery and
a broad range
of rubber products.
PRODUCTION CAPACITY
61,000 tons per
annum
PURCHASE
70% of raw
material and chemical are
imported from U.S.A., Japan,
Republic of China
and Germany, the
remaining 30% is
purchased from local
suppliers.
MAJOR SUPPLIERS
PTT Public Company
Limited : Thailand
Tokai Carbon Co.,
Ltd. : Japan
Tokai Carbon (Shanghai)
Co., Ltd. : Republic of
China
Mitsubishi Corporation : Japan
Thai-MC Company Limited : Thailand
SALES
60% of the
products is sold
locally by wholesale
to manufacturers and
end-users, the remaining
40% is exported
to Malaysia, Indonesia,
Vietnam, India, Singapore,
Republic of China,
Korea, Taiwan, Philippines,
France, Spain, New
Zealand, Pakistan and
Japan.
MAJOR CUSTOMERS
Michelin Siam Co.,
Ltd. : Thailand
Thai Bridgestone Co.,
Ltd. : Thailand
Deestone Co., Ltd. : Thailand
Sumitomo Rubber (Thailand)
Co., Ltd. : Thailand
Otani Tire Co.,
Ltd. : Thailand
Micro Inks Ltd. : India
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
Bangkok Bank Public
Company Limited
Bank of Ayudhya
Public Company Limited
The Siam Commercial
Bank Public Company
Limited
Kasikornbank Public Company
Limited
Bank of Tokyo-Mitsubishi UFJ
Ltd. [Bangkok Branch]
Mizuho Bank Ltd.
[Bangkok Branch]
EMPLOYMENT
The subject employs
approximately 250 staff.
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
Factory is located
at 42/2 Moo
1, Sukhumvit Rd.,
KM. 124.5, T. Thungsukhla,
A. Sriracha, Chonburi 20230.
Tel : [66] 38
352-487 Fax :
[66] 38 352-246-7
COMMENT
The subject was established
itself as a
prominent carbon black manufacturer. Its product
has been renowned for reliability
and uncompromising standards of international quality supplying
the products to
tyre production and
other related industries
of both local
and overseas.
Sluggish economy, slow
recovery and less
expansion of related
industries resulted to
a slow consumption of carbon
black. The subject was
inevitably affected and
resulted to a
decrease in sales
or service income
in 2016 comparing to the
previous year. However,
it obtained higher
net profit from a
decrease in cost
of goods sold
and financial cost subsequently
which increased the profit margin
and ended with
a higher net
profit. Generally, the subject
operates a moderate
business with a
large amount of
retained earnings.
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 10,000 shares
of
Bht. 100 each.
The capital was
increased later as
following:
Bht. 200,000,000
on October 15,
1990
Bht. 300,000,000
on June 29,
1992
Bht. 600,000,000
on February 6,
1995
Bht. 800,000,000
on November 16, 1995
The latest registered
capital was increased
to Bht. 800 million, divided into
8,000,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at September 4,
2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Tokai Carbon Co.,
Ltd. Nationality: Japanese Address : Aoyama
Building, 2-3 Kita- Aoyama 1-Chome,
Minato-ku, Tokyo, Japan |
7,999,998 |
100.00 |
|
Mr. Takashi Masaki Nationality: Japanese Address : Aoyama
Building, 2-3 Kita- Aoyama 1-Chome,
Minato-ku, Tokyo, Japan |
1 |
- |
|
Mr. Tatsuhiko Yamazaki Nationality: Japanese Address : Aoyama
Building, 2-3 Kita- Aoyama 1-Chome,
Minato-ku, Tokyo, Japan |
1 |
- |
Total Shareholders : 3
Share Structure [as
at September 4,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - Japanese |
3 |
8,000,000 |
100.00 |
|
Total |
3 |
8,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Bunyarit Thanomcharoen No.
7900
THAI TOKAI CARBON PRODUCT CO., LTD.
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 |
52,946,311 |
77,575,256 |
143,679,779 |
|
Trade Accounts and
Other Receivable |
628,690,330 |
504,556,293 |
874,983,212 |
|
Inventories |
527,534,984 |
1,064,714,313 |
1,778,641,545 |
|
Other Current Assets
|
512,099,867 |
259,193,633 |
245,778,410 |
|
|
|
|
|
|
Total Current Assets
|
1,721,271,492 |
1,906,039,495 |
3,043,082,946 |
|
|
|
|
|
|
Property, Plant and Equipment |
1,274,084,790 |
1,559,699,673 |
1,923,256,523 |
|
Intangible Assets |
11,957,995 |
14,063,053 |
16,162,360 |
|
Other Non-current Assets
|
8,956,053 |
8,772,856 |
8,747,897 |
|
Total Assets |
3,016,270,330 |
3,488,575,077 |
4,991,249,726 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and Short-term Loan from Financial Institutions |
558,000,000 |
1,054,000,000 |
1,830,000,000 |
|
Trade Accounts and
Other Payable |
54,220,499 |
107,964,683 |
452,693,926 |
|
Other Current Liabilities |
44,873,237 |
34,472,298 |
29,306,748 |
|
|
|
|
|
|
Total Current Liabilities |
657,093,736 |
1,196,436,984 |
2,312,000,674 |
|
|
|
|
|
|
Employee Benefits Obligation |
22,640,951 |
21,363,866 |
18,675,585 |
|
Total Liabilities |
679,734,687 |
1,217,800,847 |
2,330,676,259 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 8,000,000 shares |
800,000,000 |
800,000,000 |
800,000,000 |
|
|
|
|
|
|
Capital Paid |
800,000,000 |
800,000,000 |
800,000,000 |
|
Retained Earnings: [Deficit] Appropriated for Statutory
Reserve |
80,000,000 |
80,000,000 |
80,000,000 |
|
Unappropriated |
1,456,535,643 |
1,390,774,230 |
1,780,573,467 |
|
Total Shareholders' Equity |
2,336,535,643 |
2,270,774,230 |
2,660,573,467 |
|
Total Liabilities and
Shareholders' Equity |
3,016,270,330 |
3,488,575,077 |
4,991,249,726 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
3,270,160,124 |
3,386,014,061 |
5,214,404,472 |
|
Other Income |
17,735,359 |
17,949,908 |
23,544,940 |
|
Total Revenues |
3,287,895,483 |
3,403,963,969 |
5,237,949,412 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services
|
2,995,562,502 |
3,569,989,817 |
4,994,117,935 |
|
Selling Expenses |
144,122,656 |
123,080,901 |
144,613,367 |
|
Administrative Expenses |
68,271,172 |
71,189,557 |
71,800,971 |
|
Other Expenses |
- |
- |
53,273,229 |
|
Total Expenses |
3,207,956,330 |
3,764,260,275 |
5,263,805,502 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
79,939,153 |
[360,296,306] |
[25,856,090] |
|
Financial Costs |
[14,177,740] |
[29,502,931] |
[49,246,334] |
|
Profit / [Loss] before Income
Tax |
65,761,413 |
[389,799,237] |
[75,102,424] |
|
Income Tax |
- |
- |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
65,761,413 |
[389,799,237] |
[75,102,424] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.62 |
1.59 |
1.32 |
|
QUICK RATIO |
TIMES |
1.04 |
0.49 |
0.44 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.57 |
2.17 |
2.71 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.08 |
0.97 |
1.04 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
64.28 |
108.86 |
129.99 |
|
INVENTORY TURNOVER |
TIMES |
5.68 |
3.35 |
2.81 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
70.17 |
54.39 |
61.25 |
|
RECEIVABLES TURNOVER |
TIMES |
5.20 |
6.71 |
5.96 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
6.61 |
11.04 |
33.09 |
|
CASH CONVERSION CYCLE |
DAYS |
127.84 |
152.21 |
158.16 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.60 |
105.43 |
95.78 |
|
SELLING & ADMINISTRATION |
% |
6.49 |
5.74 |
4.15 |
|
INTEREST |
% |
0.43 |
0.87 |
0.94 |
|
GROSS PROFIT MARGIN |
% |
8.94 |
(4.90) |
4.68 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.44 |
(10.64) |
(0.50) |
|
NET PROFIT MARGIN |
% |
2.01 |
(11.51) |
(1.44) |
|
RETURN ON EQUITY |
% |
2.81 |
(17.17) |
(2.82) |
|
RETURN ON ASSET |
% |
2.18 |
(11.17) |
(1.50) |
|
EARNING PER SHARE |
BAHT |
8.22 |
(48.72) |
(9.39) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.23 |
0.35 |
0.47 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.29 |
0.54 |
0.88 |
|
TIME INTEREST EARNED |
TIMES |
5.64 |
(12.21) |
(0.53) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(3.42) |
(35.06) |
|
|
OPERATING PROFIT |
% |
(122.19) |
1,293.47 |
|
|
NET PROFIT |
% |
116.87 |
(419.02) |
|
|
FIXED ASSETS |
% |
(18.31) |
(18.90) |
|
|
TOTAL ASSETS |
% |
(13.54) |
(30.11) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -3.42%. Turnover has decreased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
8.94 |
Acceptable |
Industrial Average |
26.90 |
|
Net Profit Margin |
2.01 |
Acceptable |
Industrial Average |
6.99 |
|
Return on Assets |
2.18 |
Deteriorated |
Industrial Average |
13.57 |
|
Return on Equity |
2.81 |
Deteriorated |
Industrial Average |
19.83 |
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 8.94%. When compared with
the industry average, the ratio of the company was lower. This indicated that
company may have problems with control over its costs.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. The company's figure is 2.01%.
When compared with the industry average, the ratio of the company was lower.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. When compared with the
industry average, it was lower, the company's figure is 2.18%.
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 2.81%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
2.62 |
Impressive |
Industrial Average |
1.78 |
|
Quick Ratio |
1.04 |
|
|
|
|
Cash Conversion Cycle |
127.84 |
|
|
|
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 2.62 times in 2016, increase from 1.59 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 1.04 times in 2016,
increase from 0.49 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 128 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.23 |
Impressive |
Industrial Average |
0.29 |
|
Debt to Equity Ratio |
0.29 |
Impressive |
Industrial Average |
0.40 |
|
Times Interest Earned |
5.64 |
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 lower the percentage means that the company is using
less leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 5.64 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 0.23 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.57 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.08 |
Satisfactory |
Industrial Average |
1.94 |
|
Inventory Conversion Period |
64.28 |
|
|
|
|
Inventory Turnover |
5.68 |
Satisfactory |
Industrial Average |
10.92 |
|
Receivables Conversion Period |
70.17 |
|
|
|
|
Receivables Turnover |
5.20 |
Acceptable |
Industrial Average |
11.61 |
|
Payables Conversion Period |
6.61 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.20 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 109 days at the
end of 2015 to 64 days at the end of 2016. This represents a positive trend.
And Inventory turnover has increased from 3.35 times in year 2015 to 5.68 times
in year 2016.
The company's Total Asset Turnover is calculated as 1.08 times and 0.97
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 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
|
Thai Baht |
1 |
INR 2.07 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
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.