MIRA
INFORM REPORT
|
Report Date : |
28.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
TYCOONS WORLDWIDE
GROUP [ |
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Registered Office : |
99 Moo
1, |
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|
Country : |
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|
Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
09.09.1996 |
|
|
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Com. Reg. No.: |
0107546000172 |
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|
Legal Form : |
Public Limited Company |
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|
|
|
Line of Business : |
Manufacturer & exporter of wire rod & fasteners |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Usually 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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
TYCOONS
WORLDWIDE GROUP [
SUMMARY
BUSINESS
ADDRESS : 99
MOO 1,
NIKOMPATANA, KHING - AMPHUR
NIKOMPATANA,
TELEPHONE : [66] 38 636-800-22
FAX :
[66] 38 636-977, 38
636-969
E-MAIL
ADDRESS : tycoons@tycons.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1996
REGISTRATION
NO. : 0107546000172 [Former : 1948/2539]
CAPITAL REGISTERED : BHT. 6,035,039,000
CAPITAL PAID-UP : BHT.
6,035,039,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PUBLIC LIMITED
COMPANY
EXECUTIVE : MR.
HUANG, WEN- SUNG, TAIWANESE
PRESIDENT
NO.
OF STAFF : 1,056
LINES
OF BUSINESS : WIRE
ROD & FASTENERS
MANUFACTURER &
EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH
MANAGEMENT
STANDARD : MANAGEMENT WITH
LOW PERFORMANCE
HISTORY
The subject was
established on September 9, 1996 originally as a
private limited company,
under the registered
name “Tycoon Worldwide
Group [Thailand] Company
Limited”, by Tycoons
Group International Ltd., Taiwan,
with the business
objective to manufacture and distribute
wide range of
wire rods and
fasteners to both
domestic and international
markets. Subject received
promotional privilege from
the Board of
Investment [BOI] to
produce wire &
screw on October
11, 1996.
The subject invested
with Bht. 6.8
billion in the
industrial area of
Eastern Rayong of
Thailand on 700,000
M2 of area
in 1997.
On July 9,
2003, subject became
to be the public
company, under the name TYCOONS WORLDWIDE
GROUP [THAILAND] PUBLIC
COMPANY LIMITED, and
listed on the
Stock Exchange of
Thailand [SET] on December
11, 2003. It
currently employs 1,056 staff.
The subject’s registered address
is 99 Moo 1,
T. Nikompattana, A.
Nikompattana, Rayong 21180,
and this is
the company’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Huang, Wen - Sung |
[x] : Chairman |
Taiwanese |
56 |
|
Mr. Yang |
[x] |
Taiwanese |
53 |
|
Mrs. Lu, Yen-Chuan |
[x] : Vice Chairman |
Taiwanese |
57 |
|
Mr. Ou Yang
Lung |
[x] |
Taiwanese |
- |
|
Mr. Surapol Kwanjaipattana |
|
Thai |
61 |
|
Mr. Jirawat Wang |
|
Thai |
56 |
|
Mr. Pipat Wangpichit |
|
Thai |
74 |
|
Mr. Huang, Ping-Lun |
[x] |
Taiwanese |
31 |
AUTHORIZED PERSON
Two of the
mentioned directors [x]
can jointly sign
on behalf of
the subject with company’s
affixed.
MANAGEMENT
Mr. Huang, Wen - Sung
is the President [Fastener Production].
He is Taiwanese
nationality with the
age of 56
years old.
Mr. Su, Chung-Pei is
the Vice President.
He is Taiwanese
nationality.
Mr. Tseng, Der-Jen is
the Vice President
Rolling Production].
He is Taiwanese
nationality.
Mr. Ou, Yang-Lung
is the Vice
President [Wire Production].
He is Taiwanese
nationality.
Mr. Chang, Yung-Liang is
the Vice President [Financial & Accounting].
He is Taiwanese
nationality.
Mr. Yang, Po-Lung is
the Assistant Vice
President [Planning &
Information].
He is Taiwanese
nationality with the
age of 53
years old.
Mr. Chanya Vechawong
is the
Human Resources Manager.
He is Thai
nationality.
Mr. Arun Arsinviriya is
the Administration Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activity
is a manufacturer
of wire rods, annealing wire, screw
and bolts. The products are
as the followings
:
Steel Grade
· Low Carbon
Steel Wire Rods
· Carbon Steel
Wire Rods For
Cold Heading and
Cold Forging
· High Carbon
Steel Wire Rods
· Low Alloy
Steel Wire Rods
· Welding Steel
Wire Rods
· Free Cutting
Steel Wire Rods
Wire Products
Regarding to the range
of wire products
[Spherodized Annealing wire],
the company can
produce wire in
the range of
diameter from 2.2
mm. to 5.5
mm., from 5.5
mm. to 42.0
mm. and the
material grade are
as follow :
· Material for
nail
· Material for
drilling point screw
· Material for
bolt
Screw Products
· Chipboard screws
· Drywall screws
· Self Drilling screws
· Self Tapping screws
· Machine screws
· Hex Head Machine screws
· Wood screws
· Thread Road
· Special screws or Bolts
Process of Wire
Rods Production
Tycoons has invested
almost 3 billion
Bht. to construct
the wire rods
rolling plant in
Tycoons also supported
by manpower of
China Metallurgical Import
& Export Baogang
Company and Taigang
Import & Export
Corporation from Mainland
China to train
subject’s operators to
familiarize with rolling
mill process.
Tycoons could provide
a wide range
of coil products,
from 5.5 mm.
To 42 mm.
dimension. Of wire
rod coil and
bar in coil
compatible with low
carbon steel, medium/high
carbon steel, cold
heading steel and
alloy steel.
Process of Spheroidized
Annealing Wire
Tycoons Thailand has
the experience in
production of high quality
annealed wire produced
by High Speed
Machines [Herborn &
Breitenback of Germany].
The wire were
stored by star
shape wire support,
and pass the
Spheroidized annealing by
German LOI bell
type vacuum system.
The surface of
material will be
bright after pass
the process of
acid washing, wire
surface plating and
skin pass. The
production is also
supplied to foreign
customers demand.
Process of Screw
Production.
The subject can
control every processes
by PLC. Moreover,
it has the
expert engineers to control in
each step. After
pass the quality
inspection, it pack
and ship by
it selves. As
well, carries good
reputation from the
customers in Europe
and America.
Tycoons makes drywall
screws, chipboard screws,
self tapping screws,
machine screws, hew
head machine screws,
self drilling screws,
tek screws and
decking screws by
using 400 sets
of forming equipments
and & sets
of heat treatment
equipments. He also
has phosphate, zinc
plating, dacrotizing and
rusper for surface
coating.
Tycoons has been
considered to be
the largest supplier
in South East
Asia.
PRODUCTION
Wire Rod :
360,000 tons/year
Annealed Wire : 144,000
tons/year
Screws : 36,000
tons/year
Bolts : 36,000
tons/year
IMPORT [COUNTRIES]
95% of raw
materials mainly billet
are imported from
Taiwan, Germany, Brazil,
Africa, Ukraine, Republic
of China and
Japan.
MAJOR SUPPLIERS
Tycoons Group Enterprise
Ltd.. :
EXPORT [COUNTRIES]
70% of the
products is exported
to Taiwan, U.S.A., Russia, Singapore,
Malaysia, India, Australia,
Republic of China,
Vietnam, Indonesia, Germany,
Pakistan, Spain and
United Kingdom.
SALES [LOCAL]
30% of its
products is sold
locally to manufacturers, wholesalers
and end - users.
PARENT COMPANY
Tycoons Group International
Ltd.
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
for the past
two years.
CREDIT
Sales are by cash or
on the credits
term of 30-60-90
days.
Local bills are
paid by cash
or on the
credits term of
30-60-90 days.
Imports are by
L/C at sight
or T/T.
Exports are against
L/C at sight
or T/T.
BANKING
Bank of
[
Kasikornbank Public Co., Ltd.
[Rayong Branch,
Nikpmpattana, Rayong province]
Bangkok Bank Public
Co., Ltd.
[Head Office
:
[Maptaphud Branch,
Maptaphud, Chonburi province]
TMB Bank Public
Co., Ltd.
[Head Office,
EMPLOYMENT
The subject employs
1,056 staff [office
staff and factory
workers].
LOCATION DETAILS
The premise is owned
for operating office,
factory & warehouse
at the heading
address. Premises is
located in upcountry.
REMARK
MAXIMUM CREDIT SHOULD BE
GRANTED AT US$ 1,000,000
COMMENT
TYCN is the largest screw
manufacturer in Thailand and
the company believes
that it is one of only
a few screw
manufacturers in the
world vertically integrated
from production of
wire rods to
production of screws.
Subject is one of
the leaders in the
wire rod market.
One factor supporting
this position is the
company’s high product
quality. Additionally, subject
offers certain products
that other competitors
are not able
to offer.
Over the year 2010, the
subject has expanded
business both local
and overseas by way
of backward and forward
integration. The subject
has been enhancing production
capacities
from time to time
by adding new
technology and contributes
significantly to the economy of
Thailand.
FINANCIAL INFORMATION
The capital was registered
at Bht. 1,833,000,000
divided into 183,300,000 shares
of Bht. 10
each.
On November 12,
1999, the capital
was increased to
Bht. 5,028,000,000 divided
into 502,800,000 shares
of Bht. 10
each.
On December 4,
2003, the capital
was increased to
Bht. 6,285,000,000 divided into
628,500,000 shares of
Bht. 10 each with
fully paid.
In 2009, capital
was decreased to
Bht. 6,035,039,000 divided
into 603,503,900 shares
of Bht. 10
each with fully
paid.
MAIN SHAREHOLDERS
[as at March
4, 2011] at
Bht. 6,0035,039,000 of
capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
Tycoons Group International Ltd. |
479,588,592 |
79.47 |
|
Chase Nominees Limited
42 |
53,862,100 |
8.92 |
|
Mrs. Tsai, Yin |
5,826,500 |
0.97 |
|
Thai NVDR Co.,
Ltd. |
3,633,860 |
0.60 |
|
Others |
60,592,848 |
10.04 |
Total Shareholders :
2,151
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Thipawal Nananuwat No.
3459
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2010 &
2009 were:
ASSETS
|
Current Assets |
2010 |
2009 |
|
|
|
|
|
Cash and Cash Equivalents |
348,459,582 |
529,750,709 |
|
Trade Accounts Receivable Related Parties |
70,041,530 |
360,760,683 |
|
Unrelated Parties |
396,167,757 |
237,341,205 |
|
Less: Allowance
for Doubtful Accounts |
[104,277,173] |
[113,602,314] |
|
|
|
|
|
Trade Accounts Receivable
- Net |
361,932,114 |
484,499,574 |
|
Amounts due from
Related Parties |
36,585,146 |
356,458 |
|
Inventories |
3,380,306,841 |
2,279,644,446 |
|
Other Current Assets
Advance Payments
for Goods & Services
|
278,545,496 |
296,873,831 |
|
Less: Allowance
for Doubtful Accounts |
[225,592,118] |
[288,849,302] |
|
|
|
|
|
Advance Payments
for Goods & Services - Net |
52,953,378 |
8,024,529 |
|
Value Added
Tax Refundable |
3,131,632 |
79,163,493 |
|
Advances for
Purchases of Assets & Repairs
to Compensate for
Assets Damaged by Fire |
- |
75,861,255 |
|
Less: Allowance
for Advances that
may not Recovered |
- |
[18,573,450] |
|
|
|
|
|
Advances for
Purchases of Assets & Repairs
to Compensate for
Assets Damaged by Fire
- Net |
- |
57,287,805 |
|
Others |
3,740,084 |
4,683,529 |
|
|
|
|
|
Total Current Assets
|
4,187,108,777 |
3,443,410,543 |
|
Restricted Bank Deposit
|
86,500,000 |
86,500,000 |
|
Investment in Subsidiary |
97,394,980 |
97,394,980 |
|
Fixed Assets |
5,938,433,098 |
6,068,138,582 |
|
Intangible Assets |
442,634 |
1,009,409 |
|
Other Assets |
17,131,055 |
17,157,879 |
|
Total Assets |
10,327,010,544 |
9,713,611,393 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2010 |
2009 |
|
|
|
|
|
Short-term Loan from Financial
Institutions |
1,1499,298,600 |
1,461,564,418 |
|
Trade Accounts Payable Related Parties |
60,658,336 |
16,272,139 |
|
Unrelated Parties |
1,200,521,123 |
214,353,363 |
|
|
|
|
|
Total Trade Accounts
Payable |
1,261,179,459 |
230,625,502 |
|
Amounts due to
Related Parties |
44,514 |
1,643,645 |
|
Current Portion of Long-term
Loans from Financial Institutions |
610,000,000 |
1,690,000,000 |
|
Current Portion of
Liabilities under Hire- purchase Agreements |
1,524,717 |
1,917,397 |
|
Other Current Liabilities Provision for
Loss from Raw
Material Purchase Contracts |
- |
6,014,805 |
|
Accrued Expenses |
122,234,820 |
62,653,602 |
|
Accrued Interest
Expenses |
12,698,245 |
15,505,862 |
|
Advance Received
from Customers |
62,082,370 |
50,895,219 |
|
Others |
16,616,143 |
22,350,794 |
|
|
|
|
|
Total Current Liabilities |
3,235,678,868 |
3,543,171,244 |
|
Long-term Loans from Financial
Institution – Net of Current
Portion |
965,000,000 |
435,000,000 |
|
Liabilities under Hire-purchase Agreements – Net of
Current Portion |
2,643,892 |
3,713,064 |
|
Total Liabilities |
4,203,322,760 |
3,981,884,308 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
|
2010 |
2009 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
Share capital |
|
|
|
Registered 603,503,900 ordinary shares
of Baht 10 each |
6,035,039,000 |
6,035,039,000 |
|
Issued and
fully paid up |
|
|
|
603,503,900 ordinary shares
of Baht 10 each
|
6,035,039,000 |
6,035,039,000 |
|
Premium on Share
Capital |
- |
651,599,475 |
|
Premium on Treasury Stock |
- |
40,394,832 |
|
Retained Earning Appropriated for Statutory Reserve |
4,432,439 |
90,122,577 |
|
Unappropriated |
84,216,345 |
[1,085,428,799] |
|
Total Shareholders' Equity |
6,123,687,784 |
5,731,727,085 |
|
Total Liabilities & Shareholders' Equity |
10,327,010,544 |
9,713,611,393 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2010 |
2009 |
|
|
|
|
|
Sales |
6,132,881,794 |
4,962,020,977 |
|
Other Income Gains on
Exchange Rate |
164,430,812 |
- |
|
Interest Income |
4,615,143 |
12,101,234 |
|
Others |
30,554,538 |
5,863,968 |
|
Total Revenues |
6,332,482,287 |
4,979,986,179 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Sales
|
5,665,264,490 |
5,591,167,518 |
|
Losses on Diminution
in Value of Inventories
[Reversal] |
[120,017,044] |
[235,262,154] |
|
|
5,545,247,446 |
5,355,905,364 |
|
Selling Expenses |
226,663,910 |
153,992,512 |
|
Administrative Expenses |
108,194,007 |
130,332,241 |
|
Management Benefit Expenses |
13,633,629 |
13,328,226 |
|
Bad Debts |
- |
282,522,157 |
|
Doubtful Debts [reversal |
[48,415,956] |
381,660,748 |
|
Losses from advances
that may not
be recovered [reversal] |
[18,539,825] |
18,573,450 |
|
Loss from Raw
Material Purchase Contract |
[6,014,805] |
6,014,805 |
|
Loss on Exchange
Rate |
- |
33,122,998 |
|
Total Expenses |
5,820,768,406 |
6,356,879,051 |
|
|
|
|
|
Profit / [Loss] before Finance
Cost |
511,713,881 |
[1,376,892,872] |
|
Finance Cost |
[119,753,182] |
[142,596,885] |
|
|
|
|
|
Net Profit / [Loss] |
391,960,699 |
[1,519,489,757] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2010 |
2009 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.29 |
0.97 |
|
QUICK RATIO |
TIMES |
0.14 |
0.18 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.03 |
0.82 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.59 |
0.51 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
217.79 |
148.82 |
|
INVENTORY TURNOVER |
TIMES |
1.68 |
2.45 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
23.58 |
17.46 |
|
RECEIVABLES TURNOVER |
TIMES |
15.48 |
20.91 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
77.35 |
13.99 |
|
CASH CONVERSION CYCLE |
DAYS |
164.02 |
152.28 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
92.38 |
112.68 |
|
SELLING & ADMINISTRATION |
% |
5.68 |
6.00 |
|
INTEREST |
% |
1.95 |
2.87 |
|
GROSS PROFIT MARGIN |
% |
10.88 |
(12.32) |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
8.34 |
(27.75) |
|
NET PROFIT MARGIN |
% |
6.39 |
(30.62) |
|
RETURN ON EQUITY |
% |
6.40 |
(26.51) |
|
RETURN ON ASSET |
% |
3.80 |
(15.64) |
|
EARNING PER SHARE |
BAHT |
0.65 |
(2.52) |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.41 |
0.41 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.69 |
0.69 |
|
TIME INTEREST EARNED |
TIMES |
4.27 |
(9.66) |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
23.60 |
|
|
OPERATING PROFIT |
% |
(137.16) |
|
|
NET PROFIT |
% |
125.80 |
|
|
FIXED ASSETS |
% |
(2.14) |
|
|
TOTAL ASSETS |
% |
6.31 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
10.88 |
Satisfactory |
Industrial Average |
11.91 |
|
Net Profit Margin |
6.39 |
Impressive |
Industrial Average |
0.74 |
|
Return on Assets |
3.80 |
Impressive |
Industrial Average |
0.87 |
|
Return on Equity |
6.40 |
Impressive |
Industrial Average |
0.32 |
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 10.88%. When compared with
the industry average, the ratio of the company was lower. indicated that
company was originated from the 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 6.39%
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 is 3.8%,
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 is 6.4%, 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 RATIO
|
Current Ratio |
1.29 |
Satisfactory |
Industrial Average |
1.60 |
|
Quick Ratio |
0.14 |
|
|
|
|
Cash Conversion Cycle |
164.02 |
|
|
|
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 1.29 times in 2010, increase from 0.97 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 0.14 times in 2010,
decrease from 0.18 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 165 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.41 |
Impressive |
Industrial Average |
0.47 |
|
Debt to Equity Ratio |
0.69 |
Impressive |
Industrial Average |
0.90 |
|
Times Interest Earned |
4.27 |
Impressive |
Industrial Average |
1.55 |
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 stronger equity
position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 4.28 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 0.41 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 Downtrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.03 |
Deteriorated |
Industrial Average |
2.37 |
|
Total Assets Turnover |
0.59 |
Acceptable |
Industrial Average |
1.03 |
|
Inventory Conversion Period |
217.79 |
|
|
|
|
Inventory Turnover |
1.68 |
Acceptable |
Industrial Average |
3.13 |
|
Receivables Conversion Period |
23.58 |
|
|
|
|
Receivables Turnover |
15.48 |
Impressive |
Industrial Average |
4.86 |
|
Payables Conversion Period |
77.35 |
|
|
|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.40 |
|
|
1 |
Rs.73.26 |
|
Euro |
1 |
Rs.65.17 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.