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|
MIRA INFORM REPORT
|
Report No. : |
486345 |
|
Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
THAI PARFUN CO. LTD. |
|
|
|
|
Registered Office : |
242
Moo 7, 304
Industrial Park, T. Thatum,
A. Srimahaphote,
Prachinburi 25140, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
04.12.2002 |
|
|
|
|
Com. Reg. No.: |
0735545002361 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is
engaged in manufacturing and
exporting ladies innerwear,
sportswear and related
products under its
own “PARFUN” brand,
as well as
provide manufacturing service
of the products
under OEM brands
such as “CHARLE”,
“WACOAL”, “MUJIRYOHIN”, “UNY”,
“UNIQLO”. |
|
|
|
|
No. of Employees : |
1650 |
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 |
|
Maximum Credit Limit : |
US$ 3,000,000 |
|
|
|
|
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 sustained strong growth and 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.
Growth has slowed in the last few years, however, due to domestic political turmoil and sluggish global demand. Nevertheless, 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, Thailand faces labor shortages, and domestic debt levels, political uncertainty, and an aging population pose risks to growth.
|
Source
: CIA |
company
name and address
THAI PARFUN CO.,
LTD.
SUMMARY
BUSINESS ADDRESS : 242
MOO 7, 304
INDUSTRIAL PARK, T. THATUM, A. SRIMAHAPHOTE, PRACHINBURI
25140, THAILAND
TELEPHONE : [66] 37
274-241-2
FAX : [66]
37 274-243
E-MAIL ADDRESS : -
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2002
REGISTRATION NO.
: 0735545002361
TAX ID NO. : 3030751010
CAPITAL
REGISTERED : BHT.
100,000,000
CAPITAL
PAID-UP : BHT.
100,000,000
SHAREHOLDER’S PROPORTION : JAPANESE :
100%
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. HIDEKAZU FUJII,
JAPANESE
PRESIDENT AND
CHIEF EXECUTIVE OFFICER
\
NO. OF
STAFF : 1,650
LINES OF
BUSINESS : LADIES INNERWEAR, SPORTSWEAR AND RELATED
PRODUCTS
MANUFACTURER 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
December 4, 2002
as a private
limited company under
the registered name
THAI PARFUN CO.,
LTD., by Japanese group,
with the business
objective to manufacture
various kinds of
ladies innerwear, sportswear
and related products
for export. It
currently employs 1,650 staff.
The subject is
a wholly owned
subsidiary of Parfun
Holding Co., Ltd.,
in Japan.
The subject’s
registered address is
242 Moo 7,
304 Industrial Park,
T. Thatum,
A.
Srimahaphote, Prachinburi 25140,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Junko Fujii |
|
Japanese |
81 |
|
Mr. Hidekazu
Fujii |
|
Japanese |
57 |
|
Ms. Noriko Fujii |
|
Japanese |
59 |
|
Mr. Jiro
Harasawa |
|
Japanese |
46 |
|
Mr. Junichi
Kitamura |
|
Japanese |
44 |
AUTHORIZED PERSON
Any two
of the above
directors can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr.
Hidekazu Fujii is
the President and
Chief Executive Officer.
He is
Japanese nationality with
the age of
57 years old.
Ms.
Noriko Fujii is
the Managing Director.
She is
Japanese nationality with
the age of
59 years old.
Mr.
Jiro Harasawa is
the Deputy Managing
Director.
He is
Japanese nationality with
the age of
46 years old.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing and exporting
ladies innerwear, sportswear
and related products
under its own
“PARFUN” brand, as
well as provide
manufacturing service of
the products under
OEM brands such
as “CHARLE”, “WACOAL”,
“MUJIRYOHIN”, “UNY”, “UNIQLO”
and etc.
PRODUCTION CAPACITY
1,000,000 pieces
per month
PURCHASE
Raw materials
are purchased from
both domestic and
overseas suppliers in
Japan and Republic
of China.
MAJOR SUPPLIER
T.U.W. Textile
Co., Ltd. :
Thailand
Parfun Co.,
Ltd. : Japan
Onishi Parfun
Co., Ltd. : Japan
EXPORT
100% of
the products is
exported to Japan,
U.K. and U.S.A.
RELATED AND
AFFILIATED COMPANY
T.U.W. Textile
Co., Ltd.
Business Type
: Manufacturer of
ladies underwear
Yeh Parfun
Co., Ltd.
Business Type
: Manufacturer of
ladies underwear
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
CREDIT
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
Bank of
Tokyo-Mitsubishi UFJ Ltd.
[Bangkok
Branch, 54 North
Sathorn Road, Silom, Bangrak,
Bangkok]
Bangkok Bank Public Company
Limited
Kasikornbank Public
Company Limited
EMPLOYMENT
The subject
currently employs 1,650
staff.
LOCATION DETAILS
The premise
is owned for administrative office
and factory at
the heading address.
Premise is located
in provincial/industrial area.
Other Factories:
-
101 Moo
7, Phetkasem Road,
T. Omnoi, A. Krathumban, Samutsakorn
74130
-
111/1-2 Moo 5, T.
Thasai, A. Muang, Samutsakorn
74000
-
149/444 Moo 13, T.
Omnoi, A. Krathumban, Samutsakorn
74000
Bangkok office
- Unit
3012, 30th Floor,
Sathorn Square Building,
98 North Sathorn
Road, Silom,
Bangrak,
Bangkok 10500
REMARK
MAXIMUM CREDIT
SHOULD BE GRANTED
AT US$ 3,000,000.
COMMENT
Despite an increase in
sales or service
income in 2016,
it obtained a
decrease in net
profit. This was
mainly due to
higher cost of
goods sold &
service and higher
selling expenses relatively
which eroded its
profit margin. Nevertheless,
the subject maintains
a moderate business
with accumulated retained
earning.
FINANCIAL INFORMATION
The capital
was registered at
Bht. 20,000,000 divided
into 200,000 shares
of Bht. 100
each with fully
paid.
The capital
was increased later
as follows:
Bht. 50,000,000
on February 24,
2003
Bht. 80,000,000
on December 26,
2011
Bht.
100,000,000 on July
24, 2015
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 29, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Parfun
Holding Co., Ltd. Nationality:
Japanese Address
: 4-23-4 Higashi
Mituni, Yodogawa,
Osaka, Japan |
999,998 |
100.00 |
|
Ms. Noriko Fujii Nationality:
Japanese Address
: 3-40-2 Aoyamadai,
Suita City, Osaka,
Japan |
1 |
- |
|
Mr.
Hidekazu Fujii Nationality:
Japanese Address
: 3-40-2 Aoyamadai,
Suita City, Osaka,
Japan |
1 |
- |
Total Shareholders
: 3
Share Structure
[as at April
29, 2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - Japanese |
3 |
1,000,000 |
100.00 |
|
Total |
3 |
1,000,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Ms.
Chotima Kitsirakorn No. 7318
financial
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 |
121,174,914.32 |
154,193,401.47 |
70,310,762.16 |
|
Trade
Accounts and Other
Receivable |
356,954,589.63 |
244,911,259.88 |
171,707,120.27 |
|
Inventories
|
412,832,801.19 |
236,741,993.30 |
216,088,824.85 |
|
Other Current Assets |
- |
- |
43,261,828.77 |
|
Total
Current Assets |
890,962,305.14 |
635,846,654.65 |
501,368,536.05 |
|
Investment
in Subsidiaries Companies |
81,992,196.52 |
61,300,580.62 |
30,076,119.85 |
|
Property, Plant
and Equipment |
361,910,923.54 |
144,455,274.41 |
161,426,376.12 |
|
Intangible
Assets |
1,523,232.69 |
1,367,551.96 |
2,887,135.96 |
|
Other
Non-current Assets |
13,984,952.51 |
11,870,098.78 |
11,303,694.86 |
|
Total
Assets |
1,350,373,610.40 |
854,840,160.42 |
707,061,862.84 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and Short-term Loan From Financial
Institutions |
487,453,380.18 |
216,387,871.07 |
15,069,825.76 |
|
Trade Accounts
and Other Payable |
411,727,288.83 |
246,248,126.66 |
238,561,347.74 |
|
Current Portion of Long-term Liabilities |
20,000,000.00 |
20,000,000.00 |
34,000,000.00 |
|
Short-term Loan |
25,453,689.64 |
11,299,310.44 |
11,328,995.63 |
|
Accrued Income Tax |
962,817.03 |
13,337,884.03 |
9,075,472.94 |
|
Other Current Liabilities |
8,486,439.33 |
1,702,138.03 |
21,694,679.64 |
|
Total Current Liabilities |
954,083,615.01 |
508,975,330.23 |
329,730,321.71 |
|
|
|
|
|
|
Long-term Loan |
60,000,000.00 |
80,000,000.00 |
137,595,891.31 |
|
Provision for Employee Benefits |
10,708,448.67 |
7,454,561.16 |
5,154,708.25 |
|
Other Non-current
Liabilities |
58,306,280.85 |
18,022,152.73 |
29,321,463.22 |
|
Total
Liabilities |
1,083,098,344.53 |
614,452,044.12 |
501,802,384.49 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital :
Baht 100 par
value
authorized, and issued
share capital
1,000,000 shares in
2016 & 2015 |
100,000,000.00 |
100,000,000.00 |
|
|
800,000 shares in
2014 |
|
|
80,000,000.00 |
|
Capital
Paid |
100,000,000.00 |
100,000,000.00 |
80,000,000.00 |
|
Retained Earning : [Deficit] Appropriated
statutory reserve |
8,000,000.00 |
8,000,000.00 |
6,852,660.49 |
|
Unappropriated |
159,275,265.87 |
132,388,166.30 |
118,406,817.86 |
|
Total
Shareholders’ Equity |
267,275,265.87 |
240,388,116.30 |
205,259,478.35 |
|
Total
Liabilities and Shareholders’ Equity |
1,350,373,610.40 |
854,840,160.42 |
707,061,862.84 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or
Services Income |
2,293,203,845.06 |
2,101,603,195.58 |
1,951,951,456.99 |
|
Other
Income |
44,559,442.25 |
22,600,871.02 |
44,952,800.56 |
|
Total
Revenues |
2,337,763,287.31 |
2,124,204,066.60 |
1,996,904,257.55 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
1,969,955,731.41 |
1,772,628,746.55 |
1,673,234,486.27 |
|
Selling Expenses |
118,333,590.65 |
53,397,195.03 |
60,399,851.57 |
|
Administrative
Expenses |
208,730,426.74 |
209,642,923.57 |
136,281,845.86 |
|
Other Expenses |
- |
- |
2,646,624.57 |
|
Total Expenses
|
2,297,019,748.80 |
2,035,668,865.15 |
1,872,562,808.27 |
|
|
|
|
|
|
Profit
/[Loss] before Financial
Cost and Income Tax |
40,743,538.51 |
88,535,201.45 |
124,341,449.28 |
|
Financial Cost |
[10,255,712.54] |
[4,940,846.15] |
[7,689,486.92] |
|
|
|
|
|
|
Profit /[Loss]
before Income Tax |
30,487,825.97 |
83,594,355.30 |
116,651,962.36 |
|
Income Tax |
[3,600,676.40] |
[18,465,717.35] |
[9,195,693.83] |
|
Net Profit /
[Loss] |
26,887,149.57 |
65,128,637.95 |
107,456,268.53 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.93 |
1.25 |
1.52 |
|
QUICK RATIO |
TIMES |
0.50 |
0.78 |
0.73 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
6.34 |
14.55 |
12.09 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.70 |
2.46 |
2.76 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
76.49 |
48.75 |
47.14 |
|
INVENTORY TURNOVER |
TIMES |
4.77 |
7.49 |
7.74 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
56.82 |
42.54 |
32.11 |
|
RECEIVABLES TURNOVER |
TIMES |
6.42 |
8.58 |
11.37 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
76.29 |
50.70 |
52.04 |
|
CASH CONVERSION CYCLE |
DAYS |
57.02 |
40.58 |
27.21 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
85.90 |
84.35 |
85.72 |
|
SELLING & ADMINISTRATION |
% |
14.26 |
12.52 |
10.08 |
|
INTEREST |
% |
0.45 |
0.24 |
0.39 |
|
GROSS PROFIT MARGIN |
% |
16.04 |
16.73 |
16.58 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.78 |
4.21 |
6.37 |
|
NET PROFIT MARGIN |
% |
1.17 |
3.10 |
5.51 |
|
RETURN ON EQUITY |
% |
10.06 |
27.09 |
52.35 |
|
RETURN ON ASSET |
% |
1.99 |
7.62 |
15.20 |
|
EARNING PER SHARE |
BAHT |
26.89 |
65.13 |
134.32 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.80 |
0.72 |
0.71 |
|
DEBT TO EQUITY RATIO |
TIMES |
4.05 |
2.56 |
2.44 |
|
TIME INTEREST EARNED |
TIMES |
3.97 |
17.92 |
16.17 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
9.12 |
7.67 |
|
|
OPERATING PROFIT |
% |
(53.98) |
(28.80) |
|
|
NET PROFIT |
% |
(58.72) |
(39.39) |
|
|
FIXED ASSETS |
% |
150.53 |
(10.51) |
|
|
TOTAL ASSETS |
% |
57.97 |
20.90 |
|
ANNUAL
GROWTH : SATISFACTORY
An
annual sales growth is 9.12%. Turnover
has increased from THB
PROFITABILITY
: IMPRESSIVE
PROFITABILITY RATIO
|
Gross Profit Margin |
16.04 |
Satisfactory |
Industrial Average |
19.05 |
|
Net Profit Margin |
1.17 |
Satisfactory |
Industrial Average |
2.08 |
|
Return on Assets |
1.99 |
Satisfactory |
Industrial Average |
2.52 |
|
Return on Equity |
10.06 |
Impressive |
Industrial Average |
5.92 |
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 16.04%. 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 1.17%. 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 1.99%.
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 10.06%, 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 Uptrend
LIQUIDITY
: RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.93 |
Risky |
Industrial Average |
1.31 |
|
Quick Ratio |
0.50 |
|
|
|
|
Cash Conversion Cycle |
57.02 |
|
|
|
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 0.93
times in 2016, decrease from 1.25 times, then the company may have problems
meeting its short-term obligations. 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 0.5 times in 2016, decrease from
0.78 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 58 days.
Trend
of the average competitors in the same industry for last 5 years
Current
Ratio Uptrend
LEVERAGE
: ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.80 |
Acceptable |
Industrial Average |
0.54 |
|
Debt to Equity Ratio |
4.05 |
Risky |
Industrial Average |
1.18 |
|
Times Interest Earned |
3.97 |
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 3.98 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 0.8 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
: EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
6.34 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.70 |
Impressive |
Industrial Average |
1.22 |
|
Inventory Conversion Period |
76.49 |
|
|
|
|
Inventory Turnover |
4.77 |
Impressive |
Industrial Average |
2.92 |
|
Receivables Conversion Period |
56.82 |
|
|
|
|
Receivables Turnover |
6.42 |
Impressive |
Industrial Average |
5.91 |
|
Payables Conversion Period |
76.29 |
|
|
|
The
company's Account Receivable Ratio is calculated as 6.42 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 49 days at the end of 2015 to 76 days at the end of
2016. This represents a negative trend. And Inventory turnover has decreased
from 7.49 times in year 2015 to 4.77 times in year 2016.
The
company's Total Asset Turnover is calculated as 1.7 times and 2.46 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 Downtrend
Receivables
Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.98 |
|
|
1 |
INR 88.13 |
|
Euro |
1 |
INR 78.35 |
|
THB |
1 |
INR 2.00 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
POJ |
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.