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%20CO%20,%20LTD%20%20-%20512169%2001-Jun-2018_files/image017.jpg){kind=small}
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%20CO%20,%20LTD%20%20-%20512169%2001-Jun-2018_files/image020.gif)
MIRA INFORM REPORT
|
Report No. : |
512169 |
|
Report Date : |
01.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
GREEN RIVER PANELS (THAILAND) CO., LTD. |
|
|
|
|
Registered Office : |
222 Moo 4, T. Thachang, A. Bangklum,
Songkhla 90110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
15.07.2004 |
|
|
|
|
Com. Reg. No.: |
0905547001688 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer,
Distributor and Exporter of Particle Board. |
|
|
|
|
No. of Employees : |
420 |
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
GREEN RIVER PANELS
(THAILAND) CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 222
MOO 4, T. THACHANG,
A. BANGKLUM,
SONGKHLA 90110,
THAILAND
TELEPHONE : [66] 74
328-955, 74 328-943-6
FAX :
[66] 74
328-947
E-MAIL
ADDRESS : grh@greenriverholding.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2004
REGISTRATION
NO. : 0905547001688
TAX
ID NO. : 3031462908
CAPITAL REGISTERED : BHT. 1,040,000,000
CAPITAL PAID-UP : BHT.
1,040,000,000
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. HUANG, TENG-SHIH, TAIWANESE
CHIEF EXECUTIVE OFFICER
NO.
OF STAFF : 420
LINES
OF BUSINESS : PARTICLE BOARD
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 15, 2004 as a private limited
company under the
registered name GREEN RIVER
PANELS (THAILAND) CO.,
LTD., by foreign
groups, in order to
manufacture and distribute
particle boards for
domestic and overseas
markets. It currently
employs approximately 420
staff.
The subject
is a wholly
owned subsidiary of
Green River Holding Co., Ltd.,
of Cayman Islands.
The
subject’s registered address
is 222 Moo
4, T. Thachang, A. Bangklum,
Songkhla 90110, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Hsieh, Jung-Hui :
Chairman |
[x] |
Taiwanese |
56 |
|
Mr. Huang, Teng-Shih |
|
Taiwanese |
57 |
|
Mr. Piya Samutchotchuang |
|
Thai |
54 |
AUTHORIZED
PERSON
Only the mentioned
director [x] can
sign or both
of the rest
directors can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Wang, Teng-Shih is
the Chief Executive
Officer.
He is Taiwanese
nationality with the
age of 57
years old.
Mr. Piya Samutchotchuang is
the Factory Manager.
He is Thai
nationality with the
age of 54
years old.
BUSINESS
OPERATIONS
The subject is engaged in manufacturing, distributing and
exporting particle boards, mainly
supply to wooden
furniture industry.
PURCHASE
Raw materials such
as Para rubber wood,
chemical and industrial
glue are purchased
from both domestic
and overseas suppliers
in Republic of
China, India and Taiwan.
MAJOR SUPPLIER
Green River Parawood
Co., Ltd. : Thailand
Green River Wood & Lumber Manufacturing (Thailand) Co.,
Ltd. : Thailand
EXPORT
80% of the products is
exported to Taiwan,
Republic of China,
India, Indonesia, Korea,
Malaysia, Vietnam and
many countries in
Middle East and
Africa.
SALES [LOCAL]
20% of the
products is sold
locally by wholesale
to manufacturers and
dealers.
RELATED
AND AFFILIATED COMPANY
Green River Wood
& Lumber Manufacturing (Thailand)
Co., Ltd.
Business Type :
Manufacturer of rubber
wood sawn timber
Green River Parawood
Co., Ltd.
Business Type :
Distributor of rubber
wood wet timber
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 for 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
The Siam Commercial
Bank Public Company
Limited
EMPLOYMENT
The
subject employs approximately
420 office staff
and factory workers.
LOCATION
DETAILS
The
premise is owned for
administrative office, factory
I and warehouse at the heading address. Premise
is located in
provincial.
Factory
II is located
at 223 Moo
4, T. Thachang, A. Bangklum,
Songkhla 90110.
Warehouse
is located at
88 Moo 4, T.
Thachang, A. Bangklum, Songkhla
90110.
COMMENT
The
subject was formed
in 2004 as
a manufacturer, distributor
and exporter of
particle board. The
subject’s operating performance
in 2016 was
impressive with a
sharp increase in
both sales or
service income and
net profit comparing
to the previous
year, mainly due
to effective market
expansion in overseas
countries particularly Africa
and Middle East
countries in the
past year.
Its
business has a
good prospect in
response to a
high demand of
the wooden products
from both local
and overseas furniture
industry. Generally, its
business remains solid
and profitable.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 240,000,000 divided
into 2,400,000 shares
of Bht. 100
each.
The
capital was increased
later as following:
Bht. 375,000,000 on
March 7, 2006
Bht. 550,000,000 on
May 23, 2007
Bht. 700,000,000 on
February 22, 2008
Bht. 1,040,000,000
on December 23,
2013
The
latest registered capital
was increased to
Bht. 1,040 million, divided
into 10,400,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
[As at
April 30, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Green River Holding
Co., Ltd. Nationality: Cayman Address : Grand
Cayman, KY1-1208, Cayman Islands |
10,399,998 |
100.00 |
|
Mr. Hsieh, Jung-Hui Nationality: Taiwanese Address : 222
Moo 4, T. Thachang, A. Bangklum, Songkhla |
1 |
- |
|
Mr. Huang, Teng-Shih Nationality: Taiwanese Address : 222
Moo 4, T. Thachang, A. Bangklum, Songkhla |
1 |
- |
Total Shareholders : 3
Share
Structure
[as at April
30, 2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
3 |
10,400,000 |
100.00 |
|
Total |
3 |
10,400,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Savech Tamsailom
No. 10536
BALANCE
SHEET [BAHT]
The latest financial figures published
as at December
31, 2016, 2015
and 2014 were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 [Adjusted] |
|
|
|
|
|
|
Cash and Cash Equivalents |
407,818,835.06 |
146,617,109.01 |
455,840,838.03 |
|
Short-term Investment |
- |
- |
80,384,898.90 |
|
Trade Accounts and
Other Receivable |
187,954,212.74 |
140,802,656.24 |
76,912,759.27 |
|
Short-term Loans |
140,000,000.00 |
- |
- |
|
Inventories |
183,880,577.17 |
175,167,269.75 |
77,959,980.65 |
|
|
|
|
|
|
Total Current Assets
|
919,653,624.97 |
462,587,035.00 |
691,098,476.85 |
|
|
|
|
|
|
Investment Property |
- |
- |
59,625,185.21 |
|
Property, Plant and Equipment |
3,989,201,614.05 |
2,988,156,945.51 |
1,508,135,862.96 |
|
Intangible Assets |
28,856,243.36 |
10,100,820.90 |
7,266,352.99 |
|
Other Non-current Assets |
34,964,537.40 |
475,931,784.76 |
454,587,031.78 |
|
Total Assets |
4,972,676,019.78 |
3,936,786,586.17 |
2,720,712,909.79 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2016 |
2015 |
2014 [Adjusted] |
|
|
|
|
|
|
Bank Overdraft and Short-term Loan From Financial Institutions |
449,000,000.00 |
- |
- |
|
Trade Accounts Other
Payable |
269,653,474.29 |
183,372,835.29 |
108,482,441.49 |
|
Current Portion Long-term Liabilities |
365,946,371.40 |
211,576,513.33 |
99,000,000.00 |
|
Short-term Loans |
432,030,000.00 |
43,300,000.00 |
458,190,853.09 |
|
Accrued Income Tax |
30,895,358.13 |
- |
- |
|
|
|
|
|
|
Total Current Liabilities |
1,547,525,203.82 |
438,249,348.62 |
665,673,294.58 |
|
|
|
|
|
|
Long-term Loan |
1,196,950,301.31 |
1,462,893,767.83 |
258,807,013.61 |
|
Employee Benefits Obligation |
14,503,584.00 |
14,827,329.00 |
10,426,846.00 |
|
Other Non-current Liabilities |
- |
2,482,636.19 |
1,954,247.15 |
|
Total Liabilities |
2,758,979,089.13 |
1,918,453,081.61 |
936,861,401.34 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value Authorized and
issued shares capital 10,400,000
shares |
1,040,000,000.00 |
1,040,000,000.00 |
1,040,000,000.00 |
|
|
|
|
|
|
Capital Paid |
1,040,000,000.00 |
1,040,000,000.00 |
1,040,000,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
69,600,000.00 |
50,100,000.00 |
35,100,000.00 |
|
Unappropriated |
1,104,096,930.65 |
928,233,504.53 |
708,751,508.45 |
|
Total Shareholders' Equity |
2,213,696,930.65 |
2,018,333,504.53 |
1,783,851,508.45 |
|
Total Liabilities and
Shareholders' Equity |
4,972,676,019.78 |
3,936,786,586.17 |
2,702,712,909.79 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 [Adjusted] |
|
|
|
|
|
|
Sales or Services Income |
2,412,736,597.15 |
1,493,142,932.75 |
1,416,363,647.57 |
|
Other Income |
37,007,757.09 |
21,304,885.42 |
14,001,893.88 |
|
Total Revenues |
2,449,744,354.24 |
1,514,447,818.17 |
1,430,365,541.45 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
1,485,691,618.30 |
960,773,612.38 |
931,829,072.68 |
|
Selling Expenses |
154,067,764.59 |
79,440,853.28 |
101,557,860.93 |
|
Administrative Expenses |
91,586,003.31 |
73,956,650.44 |
66,360,626.46 |
|
Other Expenses |
- |
- |
9,193,161.59 |
|
Total Expenses |
1,731,345,386.20 |
1,114,171,116.10 |
1,108,940,721.66 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
718,398,968.04 |
400,276,702.07 |
321,424,819.79 |
|
Financial Cost |
[62,751,831.29] |
[15,370,800.90] |
[17,852,653.20] |
|
Profit / [Loss] before Income
Tax |
655,647,136.75 |
384,905,901.17 |
303,572,166.59 |
|
Income Tax |
[57,283,710.63] |
[423,905.09] |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
598,363,426.12 |
384,481,996.08 |
303,572,166.59 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.59 |
1.06 |
1.04 |
|
QUICK RATIO |
TIMES |
0.48 |
0.66 |
0.92 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
0.60 |
0.50 |
0.94 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.49 |
0.38 |
0.52 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
45.18 |
66.55 |
30.54 |
|
INVENTORY TURNOVER |
TIMES |
8.08 |
5.48 |
11.95 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
28.43 |
34.42 |
19.82 |
|
RECEIVABLES TURNOVER |
TIMES |
12.84 |
10.60 |
18.42 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
66.25 |
69.66 |
42.49 |
|
CASH CONVERSION CYCLE |
DAYS |
7.36 |
31.30 |
7.86 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
61.58 |
64.35 |
65.79 |
|
SELLING & ADMINISTRATION |
% |
10.18 |
10.27 |
11.86 |
|
INTEREST |
% |
2.60 |
1.03 |
1.26 |
|
GROSS PROFIT MARGIN |
% |
39.96 |
37.08 |
35.20 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
29.78 |
26.81 |
22.69 |
|
NET PROFIT MARGIN |
% |
24.80 |
25.75 |
21.43 |
|
RETURN ON EQUITY |
% |
27.03 |
19.05 |
17.02 |
|
RETURN ON ASSET |
% |
12.03 |
9.77 |
11.16 |
|
EARNING PER SHARE |
BAHT |
57.53 |
36.97 |
29.19 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.55 |
0.49 |
0.34 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.25 |
0.95 |
0.53 |
|
TIME INTEREST EARNED |
TIMES |
11.45 |
26.04 |
18.00 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
61.59 |
5.42 |
|
|
OPERATING PROFIT |
% |
79.48 |
24.53 |
|
|
NET PROFIT |
% |
55.63 |
26.65 |
|
|
FIXED ASSETS |
% |
33.50 |
98.14 |
|
|
TOTAL ASSETS |
% |
26.31 |
44.70 |
|
ANNUAL
GROWTH: EXCELLENT
An annual sales growth is 61.59%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
%20CO%20,%20LTD%20%20-%20512169%2001-Jun-2018_files/image022.gif)
PROFITABILITY
RATIO
|
Gross Profit Margin |
39.96 |
Impressive |
Industrial
Average |
- |
|
Net Profit Margin |
24.80 |
Impressive |
Industrial
Average |
(63.45) |
|
Return on Assets |
12.03 |
Impressive |
Industrial
Average |
(3.93) |
|
Return on Equity |
27.03 |
Impressive |
Industrial
Average |
(7.02) |
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 39.96%. 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 24.8%,
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
12.03%, 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 27.03%, 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
%20CO%20,%20LTD%20%20-%20512169%2001-Jun-2018_files/image024.gif)
LIQUIDITY RATIO
|
Current Ratio |
0.59 |
Risky |
Industrial
Average |
0.54 |
|
Quick Ratio |
0.48 |
|
|
|
|
Cash Conversion Cycle |
7.36 |
|
|
|
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 0.59 times in 2016, decrease from 1.06 times, then the company may
not be efficiently using its current assets. 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 0.48 times in 2016, decrease
from 0.66 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 8 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
%20CO%20,%20LTD%20%20-%20512169%2001-Jun-2018_files/image026.gif)
%20CO%20,%20LTD%20%20-%20512169%2001-Jun-2018_files/image028.gif)
LEVERAGE RATIO
|
Debt Ratio |
0.55 |
Acceptable |
Industrial
Average |
0.37 |
|
Debt to Equity Ratio |
1.25 |
Risky |
Industrial
Average |
0.58 |
|
Times Interest Earned |
11.45 |
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 11.45 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 0.55 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
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ACTIVITY RATIO
|
Fixed Assets Turnover |
0.60 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.49 |
Impressive |
Industrial
Average |
0.06 |
|
Inventory Conversion Period |
45.18 |
|
|
|
|
Inventory Turnover |
8.08 |
Impressive |
Industrial
Average |
1.25 |
|
Receivables Conversion Period |
28.43 |
|
|
|
|
Receivables Turnover |
12.84 |
Impressive |
Industrial
Average |
1.51 |
|
Payables Conversion Period |
66.25 |
|
|
|
The company's Account Receivable Ratio is calculated as 12.84 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 67 days at the
end of 2015 to 45 days at the end of 2016. This represents a positive trend.
And Inventory turnover has increased from 5.48 times in year 2015 to 8.08 times
in year 2016.
The company's Total Asset Turnover is calculated as 0.49 times and 0.38
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 67.45 |
|
|
1 |
INR 89.79 |
|
Euro |
1 |
INR 78.79 |
|
Thai Baht |
1 |
INR 2.10 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.