|
|
|
MIRA INFORM REPORT
|
Report No. : |
510498 |
|
Report Date : |
26.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
MANEE DIAM CO., LTD. |
|
|
|
|
Registered Office : |
Suite B, 22nd Floor,
Bangkok Gems & Jewellery Building, 322/54
Surawong Road, Siphya, Bangrak,
Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
24.03.2003 |
|
|
|
|
Com. Reg. No.: |
0105546037112 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is engaged in manufacturing, importing,
distributing and exporting
diamond and gem
cut for jewelry
industry, as well
as importing, distributing and
exporting various kinds
of fine diamonds, gems
and jewelry products. |
|
|
|
|
No. of Employees : |
13 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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
MANEE DIAM CO., LTD.
SUMMARY
BUSINESS ADDRESS : SUITE
B, 22ND FLOOR,
BANGKOK GEMS & JEWELLERY
BUILDING, 322/54 SURAWONG ROAD, SIPHYA, BANGRAK, BANGKOK 10500, THAILAND
TELEPHONE : [66] 2631-8990-2, 081 617-6278,
081 481-7327
FAX : [66] 2631-8996
E-MAIL ADDRESS : info@maneediam.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2003
REGISTRATION NO. : 0105546037112
TAX ID NO. : 3030856623
CAPITAL REGISTERED : BHT.
500,000,000
CAPITAL PAID-UP : BHT.
500,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
INDIAN :
49.00%
FISCAL YEAR CLOSING
DATE : DECEMBER
31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
NILESH SAMBHUBHAI ITALIYA,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 13
LINES OF BUSINESS : DIAMONDS,
GEMS AND JEWELRY
PRODUCTS
MANUFACTURER, IMPORTER, EXPORTER AND
DISTRIBUTOR
|
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 March 24, 2003
as a private
limited company under the
registered name MANEE DIAM
CO., LTD. by Indian and
Thai groups, in
order to manufacture diamond
and gems cut,
as well as
to import and export fine
diamonds, gems and jewelry
products. It currently
employs 13 staff.
The subject’s registered address
was initially at 297 Surawong Rd., Suriyawongse, Bangrak, Bangkok
10500.
In 2005, the subject’s registered
address was relocated
to Suite B, 22nd Floor, Bangkok Gems & Jewellery Building,
322/54 Surawong Rd., Siphya,
Bangrak, Bangkok 10500, and this
is the company’s
current operation address.
THE BOARD OF
DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Nilesh Sambhubhai
Italiya |
|
Indian |
43 |
|
Mr. Amrishkumar Vinodrai
Patel |
|
Indian |
48 |
|
Mrs. Shada Nilesh
Italiya |
|
Indian |
42 |
AUTHORIZED PERSON
Anyone of the
above directors can sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Nilesh Sambhubhai
Italiya is the
Managing Director.
He is Indian
nationality with the
age of 43
years old
Mr. Amrishkumar Vinodrai
Patel is the
General Manager.
He is Indian
nationality with the
age of 48
years old.
BUSINESS OPERATIONS
The subject is engaged in manufacturing, importing,
distributing and exporting
diamond and gem
cut for jewelry
industry, as well
as importing, distributing and
exporting various kinds
of fine diamonds, gems
and jewelry products.
PURCHASE
Raw materials mainly
diamonds and gemstones,
as well as
fine diamonds, gems
and jewelry are
purchased from both
domestic and overseas
suppliers mainly in
India,
Hong Kong, Republic of
China and Belgium.
SALES
The products are
sold locally by wholesale
to traders and
manufacturers, as well
as exporting to
India, United States
of America, Turkey,
Hong Kong, Republic
of China, Japan,
Middle East and
European countries.
MAJOR CUSTOMERS
Nancy Diam Ltd. : Hong
Kong
Pranda Jewelry Public
Company Limited : Thailand
SUBSIDIARY COMPANY
Diamonds By Manee
Company Limited
Business Type :
Importer, distributor and
exporter of diamonds
and jewelry
ASSOCIATED COMPANY
Zaver Diam Co.,
Ltd.
Business Type :
Importer and distributor
of diamonds
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
[Head Office : 333
Silom Rd., Silom,
Bangrak, Bangkok 10500]
Kasikornbank Public Company
Limited
EMPLOYMENT
The subject employs
13 staff.
LOCATION DETAILS
The premise is
rented for administrative office
and factory at
the heading address.
Premise is located
in a prime
commercial area.
COMMENT
The subject had been enjoying an outstanding performance in
the previous years. It creates
elegant diamond studded gold
jewelry for both domestic
and overseas markets.
Consumption of jewelry
products in 2016
remained similarly to
the previous year.
The subject obtained slightly
increase in sales
revenues but a
small decrease in
net profit in 2016.
However, its business
remains promising and
growing moderately in
amidst of slow economy
and low consumers’
spending.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 2,000,000 divided
into 20,000 shares
of Bht. 100
each.
The capital was
increased later as
follows:
Bht. 4,000,000
on April 29,
2003
Bht. 10,000,000
on January 17,
2005
Bht. 15,000,000
on May 23,
2008
Bht. 40,000,000
on September 14,
2012
Bht. 50,000,000
on June 20,
2013
Bht. 150,000,000
on October 3,
2014
Bht. 500,000,000
on November 23,
2015
The latest registered capital was
increased to Bht. 500,000,000 divided
into 5,000,000 shares of
Bht. 100 each
with fully paid-up.
THE SHAREHOLDERS LISTED
WERE : [as
at April 30, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Nilesh Sambhubhai
Italiya Nationality: Indian Address : 40/46
Soi Sukhumvit 18,
Sukhumvit Rd.,
Klongtoey, Bangkok |
2,080,000 |
41.60 |
|
Mr. Suparp Chansri Nationality: Thai Address : 90/311
Soi Ladprao 121,
Klongchan,
Bangkapi, Bangkok |
2,040,000 |
40.80 |
|
Mrs. Shada Nilesh
Italiya Nationality: Indian Address : 40/46
Soi Sukhumvit 18,
Sukhumvit Rd.,
Klongtoey, Bangkok |
200,000 |
4.00 |
|
Mr. Amrishkumar Vinodrai
Patel Nationality: Indian Address : 5/6
New Rd., Sathorn,
Yannawa, Bangkok |
170,000 |
3.40 |
|
Ms. Jamriang Nakjai Nationality: Thai Address : 443
Moo 8, Laemrangking, Buengnarang, Pichitr |
170,000 |
3.40 |
|
Mr. Charnnarong Poolsuk Nationality: Thai Address : 9
Moo 6, Saensuk,
Varinchamrab,
Ubonratchathani |
170,000 |
3.40 |
|
Ms. Nujaree Chuenjai Nationality: Thai Address : 6
Moo 5, Suksamran,
Takfah,
Nakornsawan |
170,000 |
3.40 |
Total Shareholders : 7
Share Structure [as
at April 30,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
765,000 |
51.00 |
|
Foreign - Indian |
3 |
735,000 |
49.00 |
|
Total |
7 |
1,500,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Wutichai Kraiarnon No. 7573
BALANCE SHEET [BAHT]
The 2017 financial
statement has not yet
been submitted to
the Commercial Registration
Department, during investigation.
The latest financial
figures published for December
31, 2016, 2015
and 2014 were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash Equivalents |
2,284,480.66 |
5,657,438.81 |
2,468,392.72 |
|
Trade Accounts and
Other Receivable |
541,501,576.39 |
693,137,254.08 |
778,668,997.04 |
|
Inventories |
1,250,851,716.70 |
1,209,362,666.17 |
762,095,180.00 |
|
Total Current Assets
|
1,794,637,773.75 |
1,908,157,359.06 |
1,543,232,569.76 |
|
|
|
|
|
|
Property, Plant and Equipment |
11,571,363.77 |
7,821,116.56 |
7,178,433.49 |
|
Other Non-current Assets |
247,849,590.67 |
193,420,072.08 |
145,413,747.33 |
|
Total Assets |
2,054,058,728.19 |
2,109,398,547.70 |
1,695,824,750.58 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and
Short-term Loan from Financial Institution |
817,523,081.88 |
729,952,229.43 |
402,041,424.83 |
|
Trade Accounts and Other Payable |
614,868,007.50 |
775,835,035.42 |
707,831,734.79 |
|
Accrued Income Tax |
- |
- |
2,296,856.67 |
|
Other Current Liabilities |
2,262,956.70 |
2,057,238.69 |
- |
|
Total Current Liabilities |
1,434,654,046.08 |
1,507,844,503.54 |
1,112,170,016.29 |
|
Long-term Loans |
- |
- |
350,000,000.00 |
|
Total Liabilities |
1,434,654,046.08 |
1,507,844,503.54 |
1,462,170,016.29 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, and
issued share capital
5,000,000 shares
in 2016 & 2015 |
500,000,000.00 |
500,000,000.00 |
|
|
1,500,000 shares
in 2014 |
|
|
150,000,000.00 |
|
Capital Paid |
500,000,000.00 |
500,000,000.00 |
150,000,000.00 |
|
Retained Earning -Unappropriated [Deficit] |
119,404,682.11 |
101,554,044.16 |
83,654,734.29 |
|
Total Shareholders’ Equity |
619,404,682.11 |
601,554,044.16 |
233,654,734.29 |
|
Total Liabilities and
Shareholders’ Equity |
2,054,058,728.19 |
2,109,398,547.70 |
1,695,824,750.58 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
2,580,768,746.07 |
2,423,536,921.02 |
3,217,121,287.48 |
|
Interest Income |
2,352,714.41 |
628,451.04 |
- |
|
Other Income |
15,832,874.68 |
300,000.00 |
6,317,336.19 |
|
Total Revenues |
2,598,954,335.16 |
2,424,465,372.06 |
3,223,438,623.67 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
2,529,349,621.54 |
2,291,227,049.93 |
3,174,075,660.49 |
|
Selling Expenses |
6,186,659.97 |
6,199,578.60 |
4,621,464.94 |
|
Administrative Expenses |
14,326,056.91 |
85,865,079.57 |
12,855,092.23 |
|
Total Expenses |
2,549,862,338.42 |
2,383,291,708.10 |
3,191,552,217.66 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost & Income Tax |
49,091,996.74 |
41,173,663.96 |
31,886,406.01 |
|
Financial Cost |
[26,508,402.09] |
[18,727,175.40] |
[8,193,330.03] |
|
|
|
|
|
|
Profit /[Loss] before Income Tax |
22,583,594.65 |
22,446,488.56 |
23,693,075.98 |
|
Income Tax |
[4,732,956.70] |
[4,547,178.69] |
[4,967,900.97] |
|
Net Profit / [Loss] |
17,850,637.95 |
17,899,309.87 |
18,725,175.01 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.25 |
1.27 |
1.39 |
|
QUICK RATIO |
TIMES |
0.38 |
0.46 |
0.70 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
223.03 |
309.87 |
448.16 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.26 |
1.15 |
1.90 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
180.51 |
192.66 |
87.64 |
|
INVENTORY TURNOVER |
TIMES |
2.02 |
1.89 |
4.16 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
76.58 |
104.39 |
88.34 |
|
RECEIVABLES TURNOVER |
TIMES |
4.77 |
3.50 |
4.13 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
88.73 |
123.59 |
81.40 |
|
CASH CONVERSION CYCLE |
DAYS |
168.36 |
173.45 |
94.58 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
98.01 |
94.54 |
98.66 |
|
SELLING & ADMINISTRATION |
% |
0.79 |
3.80 |
0.54 |
|
INTEREST |
% |
1.03 |
0.77 |
0.25 |
|
GROSS PROFIT MARGIN |
% |
2.70 |
5.50 |
1.53 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.90 |
1.70 |
0.99 |
|
NET PROFIT MARGIN |
% |
0.69 |
0.74 |
0.58 |
|
RETURN ON EQUITY |
% |
2.88 |
2.98 |
8.01 |
|
RETURN ON ASSET |
% |
0.87 |
0.85 |
1.10 |
|
EARNING PER SHARE |
BAHT |
3.57 |
3.58 |
12.48 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.70 |
0.71 |
0.86 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.32 |
2.51 |
6.26 |
|
TIME INTEREST EARNED |
TIMES |
1.85 |
2.20 |
3.89 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
6.49 |
(24.67) |
|
|
OPERATING PROFIT |
% |
19.23 |
29.13 |
|
|
NET PROFIT |
% |
(0.27) |
(4.41) |
|
|
FIXED ASSETS |
% |
47.95 |
8.95 |
|
|
TOTAL ASSETS |
% |
(2.62) |
24.39 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 6.49%. Turnover has increased from THB
2,423,536,921.02 in 2015 to THB 2,580,768,746.07 in 2016. While net profit has
decreased from THB 17,899,309.87 in 2015 to THB 17,850,637.95 in 2016. And
total assets has decreased from THB 2,109,398,547.70 in 2015 to THB
2,054,058,728.19 in 2016.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
2.70 |
Deteriorated |
Industrial Average |
12.73 |
|
Net Profit Margin |
0.69 |
Acceptable |
Industrial Average |
2.45 |
|
Return on Assets |
0.87 |
Acceptable |
Industrial Average |
3.03 |
|
Return on Equity |
2.88 |
Acceptable |
Industrial Average |
7.53 |
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 2.7%. 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 0.69%.
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 0.87%.
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 2.88%.
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 |
1.25 |
Satisfactory |
Industrial Average |
2.20 |
|
Quick Ratio |
0.38 |
|
|
|
|
Cash Conversion Cycle |
168.36 |
|
|
|
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 1.25 times in 2016, decrease from 1.27 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 0.38 times in 2016,
decrease from 0.46 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 169 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.70 |
Acceptable |
Industrial Average |
0.50 |
|
Debt to Equity Ratio |
2.32 |
Risky |
Industrial Average |
0.98 |
|
Times Interest Earned |
1.85 |
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 1.86 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 0.7 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 |
223.03 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.26 |
Impressive |
Industrial Average |
1.24 |
|
Inventory Conversion Period |
180.51 |
|
|
|
|
Inventory Turnover |
2.02 |
Impressive |
Industrial Average |
1.58 |
|
Receivables Conversion Period |
76.58 |
|
|
|
|
Receivables Turnover |
4.77 |
Impressive |
Industrial Average |
3.00 |
|
Payables Conversion Period |
88.73 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.77 and 3.50 in
2016 and 2015 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 2016
increased from 2015. 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 193 days at the
end of 2015 to 181 days at the end of 2016. This represents a positive trend.
And Inventory turnover has increased from 1.89 times in year 2015 to 2.02 times
in year 2016.
The company's Total Asset Turnover is calculated as 1.26 times and 1.15 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 68.26 |
|
|
1 |
INR 91.22 |
|
Euro |
1 |
INR 79.88 |
|
Thai Baht |
1 |
INR 2.12 |
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.