|
|
|
MIRA INFORM REPORT
|
Report No. : |
506976 |
|
Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
PCJ INDUSTRIES CO., LTD. |
|
|
|
|
Registered Office : |
199/24-25 Vibhavadi
Rangsit Road, Samsennai,
Phyathai, Bangkok 10400 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2017 |
|
|
|
|
Date of Incorporation : |
24.03.1998 |
|
|
|
|
Com. Reg. No.: |
0105541019019 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is
engaged in manufacturing and
servicing wide range
of steels and
metal products for
construction and industrial
uses. |
|
|
|
|
No. of Employees : |
108 |
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 : |
No Complaints |
|
|
|
|
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
PCJ INDUSTRIES CO., LTD.
SUMMARY
BUSINESS ADDRESS : 199/24-25 VIBHAVADI RANGSIT ROAD,
SAMSENNAI, PHYATHAI, BANGKOK 10400, THAILAND
TELEPHONE : [66]
2616-0184, 2616-0185, 2616-0545, 2270-1938, 2279-4166
FAX : [66] 2616-0071
E-MAIL ADDRESS : sales@pcjindustries.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1998
REGISTRATION NO. : 0105541019019
TAX ID NO. : 3011918661
CAPITAL REGISTERED : BHT.
50,000,000
CAPITAL PAID-UP : BHT.
50,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. PAISIT
JARUSSINVICHAI, THAI
MANAGING DIRECTOR
NO. OF STAFF : 108
LINES OF BUSINESS : STEEL
AND METAL PRODUCTS
MANUFACTURER, DISTRIBUTOR, EXPORTER
AND SERVICE
PROVIDER
|
CORPORATE PROFILE |
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on March
24, 1998 as
a private limited
company under the registered
name PCJ INDUSTRIES
CO., LTD. by Thai groups,
Jarussinvichai family. Its
business objective is
to manufacture and service
wide range of
steels and metal
products for construction
and industrial uses
in both domestic
and international markets.
It currently employs
108 staff.
The subject’s registered address is 199/24-25 Vibhavadi Rangsit Rd., Samsennai,
Phyathai, Bangkok 10400,
and this is
the subject’s current operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Paisit Jarussinvichai |
[x] |
Thai |
62 |
|
Mrs. Chidtra Jarussinvichai |
|
Thai |
61 |
AUTHORIZED PERSON
Only mentioned director
[x] signs on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Paisit Jarussinvichai is
the Managing Director.
He is Thai
nationality with the
age of 62
years old.
Mrs. Chidtra Jarussinvichai is
the Deputy Managing
Director.
She is Thai
nationality with the
age of 61
years old.
Ms. Warangkana Jarussinvichai is
the Sales &
Marketing Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and servicing wide
range of steels
and metal products
for construction and
industrial uses. The
products are as
follows:
Steel Doors:
- Steel Fire
Doors, 3Hr Fire
Rating
- Steel Fire
Doors, 2Hr Fire
Rating
- Steel Non-fire
Doors
- Steel Security
Doors
Air Outlets:
- Air Diffusers
- Air Grilles
- Air Registers
- Air Linear
Slot Diffusers
- Air Linear
Bar Grilles
- Air Louvers
Duct Dampers:
- Volume Dampers
- Motorized Dampers
- Gravity Dampers
- Relief Dampers
- Fire Dampers
- Fire/Smoke Dampers
- Duct Silencer / Acoustic
Cable Trunks:
- Cable Ladders
- Cable Trays
- Wire Ways
- Pull Boxes
- Control Boxes
BRAND NAME
“PCJ”
PURCHASE
80% of raw materials such as
steel, aluminum and components are
purchased from local suppliers, the
remaining 20% is imported
from Japan, Hong Kong,
Taiwan, Germany and Republic
of China.
SALES/SERVICES
80% of the
products is sold and serviced
locally to manufacturers
and end-users, the
remaining 20% is exported to Japan,
Singapore, Taiwan, Finland, Vietnam,
Cambodia, Bangladesh, Laos,
UAE, Kuwait, U.S.A.,
Myanmar, Philippines, and
United Kingdom.
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/services are by
cash or on
the credits term
of 30 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Company Limited
[Soi Aree
Branch, Phahoyothin Rd., Samsennai, Phyathai,
Bangkok]
Kasikornbank Public Company
Limited
EMPLOYMENT
The subject employs
108 staff.
LOCATION DETAILS
The premise is
owned for administrative office
on 4,000 square
meters of area
at the heading
address. Premise is
located in commercial/residential area.
Factory and warehouse
are located on
40,000 square meters
plot of land,
at 45/2 Moo
8, Kaengkoi-Salaengphan Rd.,
T. Banpa, A. Kaengkoi, Saraburi
18110.
Tel. [66] 36 262-331,
Fax. [66] 38
262-334.
COMMENT
The subject operates as a
manufacturer, distributor and
exporter of steel and
metal products for construction and industrial
users. Its operating
performance in 2017
was satisfactory. Generally,
the demand of
the products is
growing steadily in
line with an
improvement of construction
industry.
The subject has maintained
a positive business
outlook.
FINANCIAL INFORMATION
The capital was
registered at Bht. 10,000,000 divided
into 1,000,000 shares
of
Bht. 10 each.
The capital was
increased later as
following:
Bht. 30,000,000
on October 25,
2001
Bht. 50,000,000
on August 8,
2006
The latest registered
capital was increased
to Bht. 50,000,000 divided into 5,000,000 shares of Bht. 10
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 19,
2018]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Paisit Jarussinvichai Nationality: Thai Address : 199/24
Vibhavadi Rangsit Rd.,
Samsennai,
Phyathai, Bangkok |
4,600,000 |
92.00 |
|
Mrs. Chidtra Jarussinvichai Nationality: Thai Address : 199/24
Vibhavadi Rangsit Rd.,
Samsennai, Phyathai, Bangkok |
100,000 |
2.00 |
|
Ms. Warangkana Jarussinvichai Nationality: Thai Address : 199/24
Vibhavadi Rangsit Rd.,
Samsennai,
Phyathai, Bangkok |
100,000 |
2.00 |
|
Ms. Wilawan Jarussinvichai Nationality: Thai Address : 199/24
Vibhavadi Rangsit Rd.,
Samsennai,
Phyathai, Bangkok |
100,000 |
2.00 |
|
Mr. Ekasit Jarussinvichai Nationality: Thai Address : 199/24
Vibhavadi Rangsit Rd.,
Samsennai, Phyathai, Bangkok |
100,000 |
2.00 |
Total Shareholders : 5
Share Structure [as
at April 19,
2018]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
5,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
5 |
5,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sitti Leelakasemlerk No. 3259
BALANCE SHEET [BAHT]
The latest financial figures published
as at December 31,
2017, 2016 and
2015 were:
ASSETS
|
Current Assets |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Cash and Cash Equivalents |
18,800,662.79 |
10,829,747.11 |
11,219,973.43 |
|
Trade Accounts &
Other Receivable |
8,912,342.14 |
9,123,535.12 |
9,543,529.71 |
|
Inventories |
21,668,749.50 |
25,227,690.95 |
16,724,295.30 |
|
Other Current Assets
|
7,112,040.96 |
5,171,497.88 |
2,843,814.97 |
|
|
|
|
|
|
Total Current Assets
|
56,513,795.39 |
50,352,471.06 |
40,331,613.41 |
|
|
|
|
|
|
Other Long-term Investment
|
- |
- |
320,000.00 |
|
Property, Plant and Equipment |
28,584,726.92 |
26,119,443.00 |
28,354,458.65 |
|
Intangible Assets |
11,908.03 |
15,688.03 |
- |
|
Other Non-current Assets |
134,800.00 |
134,800.00 |
134,300.00 |
|
Total Assets |
85,245,230.34 |
76,622,402.09 |
69,140,372.06 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Trade Accounts and
Other Payable |
14,722,635.62 |
14,710,771.25 |
8,390,851.98 |
|
Current Portion of
Long-term Liabilities |
- |
532,027.08 |
877,452.94 |
|
Accrued Income Tax |
899,446.90 |
9,585.49 |
1,010,732.41 |
|
Other Current Liabilities |
411,536.48 |
381,688.77 |
389,867.56 |
|
|
|
|
|
|
Total Current Liabilities |
16,033,619.00 |
15,634,072.59 |
10,668,904.89 |
|
Other Non-current Liabilities |
- |
- |
532,027.10 |
|
Total Liabilities |
16,033,619.00 |
15,634,072.59 |
11,200,931.99 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 5,000,000 shares |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
|
|
|
|
|
Capital Paid |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Retained Earning Unappropriated |
19,211,611.34 |
10,988,329.50 |
7,939,440.07 |
|
Total Shareholders' Equity |
69,211,611.34 |
60,988,329.50 |
57,939,440.07 |
|
Total Liabilities and
Shareholders' Equity |
85,245,230.34 |
76,622,402.09 |
69,140,372.06 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Sales or Service
Income |
115,567,185.26 |
115,619,615.75 |
127,453,461.07 |
|
Other Income |
1,064,108.16 |
696,253.09 |
716,664.84 |
|
Total Revenues |
116,631,293.42 |
116,315,868.84 |
128,170,125.91 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Service |
76,308,537.40 |
81,897,638.07 |
96,341,629.42 |
|
Selling Expenses |
22,749,071.04 |
23,991,878.73 |
20,153,010.16 |
|
Administrative Expenses |
6,712,863.09 |
6,492,639.59 |
6,817,994.26 |
|
Other Expenses |
1,324,898.86 |
- |
- |
|
Total Expenses |
107,095,370.39 |
112,382,156.39 |
123,312,633.84 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
9,535,923.03 |
3,933,712.45 |
4,857,492.07 |
|
Financial Cost |
[8,729.92] |
[49,559.04] |
[93,830.01] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
9,527,193.11 |
3,884,153.41 |
4,763,662.06 |
|
Income Tax |
[1,303,911.27] |
[835,263.98] |
[1,010,732.41] |
|
|
|
|
|
|
Net Profit / [Loss] |
8,223,281.84 |
3,048,889.43 |
3,752,929.65 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2017 |
2016 |
2015 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.52 |
3.22 |
3.78 |
|
QUICK RATIO |
TIMES |
1.73 |
1.28 |
1.95 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.04 |
4.43 |
4.50 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.36 |
1.51 |
1.84 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
103.65 |
112.43 |
63.36 |
|
INVENTORY TURNOVER |
TIMES |
3.52 |
3.25 |
5.76 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
28.15 |
28.80 |
27.33 |
|
RECEIVABLES TURNOVER |
TIMES |
12.97 |
12.67 |
13.35 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
70.42 |
65.56 |
31.79 |
|
CASH CONVERSION CYCLE |
DAYS |
61.37 |
75.67 |
58.90 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
66.03 |
70.83 |
75.59 |
|
SELLING & ADMINISTRATION |
% |
25.49 |
26.37 |
21.16 |
|
INTEREST |
% |
0.01 |
0.04 |
0.07 |
|
GROSS PROFIT MARGIN |
% |
34.89 |
29.77 |
24.97 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
8.25 |
3.40 |
3.81 |
|
NET PROFIT MARGIN |
% |
7.12 |
2.64 |
2.94 |
|
RETURN ON EQUITY |
% |
11.88 |
5.00 |
6.48 |
|
RETURN ON ASSET |
% |
9.65 |
3.98 |
5.43 |
|
EARNING PER SHARE |
BAHT |
1.64 |
0.61 |
0.75 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.19 |
0.20 |
0.16 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.23 |
0.26 |
0.19 |
|
TIME INTEREST EARNED |
TIMES |
1,092.33 |
79.37 |
51.77 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(0.05) |
(9.28) |
|
|
OPERATING PROFIT |
% |
142.42 |
(19.02) |
|
|
NET PROFIT |
% |
169.71 |
(18.76) |
|
|
FIXED ASSETS |
% |
9.44 |
(7.88) |
|
|
TOTAL ASSETS |
% |
11.25 |
10.82 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is -0.05%. Turnover has decreased from THB
115,619,615.75 in 2016 to THB 115,567,185.26 in 2017. While net profit has
increased from THB 3,048,889.43 in 2016 to THB 8,223,281.84 in 2017. And total
assets has increased from THB 76,622,402.09 in 2016 to THB 85,245,230.34 in
2017.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
34.89 |
Impressive |
Industrial Average |
- |
|
Net Profit Margin |
7.12 |
Impressive |
Industrial Average |
4.15 |
|
Return on Assets |
9.65 |
Impressive |
Industrial Average |
7.31 |
|
Return on Equity |
11.88 |
Satisfactory |
Industrial Average |
16.34 |
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 performance in 34.89%.
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. The company’s figure is 7.12% 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
9.65%, 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. When compared with the
industry average, it was lower, the company's figure is 11.88%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
3.52 |
Impressive |
Industrial Average |
1.89 |
|
Quick Ratio |
1.73 |
|
|
|
|
Cash Conversion Cycle |
61.37 |
|
|
|
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 3.52 times in 2017, increase from 3.22 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 1.73 times in 2017,
increase from 1.28 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 62 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.19 |
Impressive |
Industrial Average |
0.52 |
|
Debt to Equity Ratio |
0.23 |
Impressive |
Industrial Average |
1.07 |
|
Times Interest Earned |
1,092.33 |
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 1092.33 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 0.19 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 |
4.04 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.36 |
Satisfactory |
Industrial Average |
1.76 |
|
Inventory Conversion Period |
103.65 |
|
|
|
|
Inventory Turnover |
3.52 |
Satisfactory |
Industrial Average |
3.74 |
|
Receivables Conversion Period |
28.15 |
|
|
|
|
Receivables Turnover |
12.97 |
Impressive |
Industrial Average |
6.34 |
|
Payables Conversion Period |
70.42 |
|
|
|
The company's Account Receivable Ratio is calculated as 12.97 and 12.67
in 2017 and 2016 respectively. This ratio measures the efficiency of the
company in managing its trade debtors to generate revenue. A lower ratio may
indicate over extension and collection problems. Conversely, a higher ratio may
indicate an overtly stringent policy. In this case, the company's A/R ratio in
2017 increased from 2016. This would suggest the company had good performance
in the management of its debt collections.
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 112 days at the
end of 2016 to 104 days at the end of 2017. This represents a positive trend.
And Inventory turnover has increased from 3.25 times in year 2016 to 3.52 times
in year 2017.
The company's Total Asset Turnover is calculated as 1.36 times and 1.51
times in 2017 and 2016 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 66.66 |
|
|
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.00 |
|
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 : |
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.