MIRA INFORM REPORT
|
Report Date : |
13.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
D.H.A.
SIAMWALLA LTD. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
31.08.1942 |
|
|
|
|
Com. Reg. No.: |
0105485000257 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Importer,
Exporter & Distributor of
Stationeries |
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 : |
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 – 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
D.H.A.
SIAMWALLA LTD.
SUMMARY
BUSINESS
ADDRESS :
BANGRAK,
TELEPHONE : [66] 2237-0500,
2234-3983, 2237-2895
FAX :
[66] 2236-7950,
2267-2394, 2631-4029, 2266-3721
E-MAIL
ADDRESS : service@dhas.com
export@dhas.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1942
REGISTRATION
NO. : 0105485000257 [Former : 689]
CAPITAL REGISTERED : BHT. 5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
FISCAL YEAR CLOSING DATE : DECEMBER
31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
EK SIAMWALLA, THAI
PRESIDENT
NO.
OF STAFF : 500
LINES
OF BUSINESS : STATIONERIES
MANUFACTURER, IMPORTER,
EXPORTER
& DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The subject
was initially found
in 1907 as a limited partnership by Mr.
D.H.A. Siamwalla and officially registered
as a private
limited company on
August 31, 1942
under the name
style D.H.A. SIAMWALLA
LTD. At present, the
subject is managed
by the third
generation of the Siamwalla
family, a major Thai-Indian
family in Thailand.
It currently employs
approximately 500 staff.
Its popular and
widely respected Elephant
Brand products made their debut in 1960, with the appearance of
the now-famous “Elephant” file,
made for it by a contractor. In
1976, using simple manual
methods, it began making them
itself. The subject built
the first factory in 1980 at the Nava Nakorn Industrial Estate in Pathum Thani, and a
second in 1988. Other items went into production: the Elephant Brand notebook,
duplicating stencil paper, duplicating ink,
self-adhesive labels and
more.
HONOUR
In 1989, subject
received Asian Hitech
award under Elephant brand
products for applying
outstanding technologies and
modern applied sciences in
production, services and
management from Thai
Industrial Standards Institute
[TISI], standard marks.
In 1992, the
subject was the
first company to obtain
the [TISI] mark
for locally produced lever
arch mechanism.
The subject’s registered
address is 210
Surawongse Rd., Siphya,
Bangrak, Bangkok 10500,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTORS
|
Name |
Nationality |
Age |
|
Mr. Toemsakdi Krisnamara : Chairman |
Thai |
84 |
|
Mr. Mit Siamwalla : Advisor
of Chairman |
Thai |
83 |
|
Mr. Ek Siamwalla |
Thai |
81 |
|
Ms. Pranee Lopansri |
Thai |
83 |
|
Mr. Yingsak Siamwalla |
Thai |
53 |
|
Mr. Opas Siamwalla |
Thai |
46 |
|
Mr. Suharit Siamwalla |
Thai |
43 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Ek Siamwalla
is the President.
He is Thai
nationality with the
age of 81
years old.
Mr. Yingsak Siamwalla
is the Managing
Director.
He is Thai
nationality with the
age of 53
years old.
Mr. Suradej Suchaxaya
is the Deputy
Managing Director &
Supports Manager.
He is Thai
nationality.
Mr. Wanchai Kanchanabul
is the Deputy Managing
Director & Support
Business Manager. He is
Thai nationality.
Mr. Opas Siamwalla is
the Deputy Managing
Director & Business Planning
& Development Manager. He
is Thai nationality.
Mr. Manoch Srikerd
is the Finance
& Account Manager.
He is Thai
nationality.
Mr. Suharit Siamwalla
is the Sales
Director.
He is Thai
nationality.
Mr. Sirichai Chaiyapornphan is
the Marketing Director.
He is Thai
nationality.
Mr. Boonchin Lertviwatchai is
the Bangkok Sales
Manager.
He is
Thai nationality.
Mr. Visanu Voranitinand is
the Office Products
Group Manager.
He is Thai
nationality.
Mr. Suwat Sajjamongkol is
the Exports Manager.
He is Thai
nationality.
INSURANCE
Insurances are carried
on :
Inventory with Commercial
Union Assurance Co., Ltd.
Building with
Commercial Union Assurance Co., Ltd.
Equipment with Commercial Union
Assurance Co., Ltd.
BUSINESS OPERATIONS
The subject is
engaged in importing, distributing
and exporting wide
range of stationery
goods, which are
divided into 7 main
products, including file
supplies, book &
paper products, pen,
pencil & marker,
office supplies products,
school supplies products,
art supplies and
architecture supplies.
The subject is also a
manufacturer and distributor of stationery
and office supplies
under its own
brand “ELEPHANT”, as
well as many
license brands such as “SCAN
GLOBE”, “CROSS”, “HI”,
“MITSUBISHI”, “SOLUTION”, “FRABIANO”,
“CAMEL”, “PENATIA”, “WINSOR & NEWTON”, “MASTERTEX”,
“QUANTUM GATEWAY”, “ARISTO”,
“ELFEN”, “MARTER ART”,
“REEVES”, “SANAZAROCO”, etc.
The product includes
notebook, duplicating stencil
paper, duplicating ink,
self-adhesive labels, various
types of files
and index.
Imported Products
The subject also imported selected products from overseas. These include
office products, corporate gifts, drafting, commercial and fine art supplies,
papers and boards and many more.
MAJOR BRANDS
The subject is
a sole distributor
of the following
brand products:
“ELEPHANT”
“FEDRIGON”
“CRESCENT”
“DAHILE”
“UCHIDA”
“GATEWAY”
“CAMEL”
“CROSS”
“ROTRING”
“EXTRA”
“LABEST”
“SCHWAN STABILO”
“TRODAT”
“WINSOR & NEWTON”
“CANSON”
“ MAGIC COLOR ”
“ MASTER ART ”
“ AVERY DENNISON ”
“ SCANGLOBE ”
“ DEVILBISS ”
“
etc.
IMPORT
[COUNTRIES]
30% of the
products and raw materials
is imported from
England, U.S.A., Germany,
Holland, France, Japan,
Denmark, Australia, Singapore, Taiwan,
Italy, India, Hong
Kong and Korea.
MAJOR SUPPLIERS
|
Name |
Country |
|
Arjo Wiggins Fine
Papers Export Ltd. |
: |
|
R. Ancker Jorgensen
A/S |
: |
|
Bieffe Dibruno Ferrarese S.p.a. |
: |
|
Cartier Fedrigoni &
Co., S.p.a. |
: |
|
Camlin Private Ltd. |
: |
|
A.T. Cross Export
Co. |
: |
|
Conte |
: |
|
Daler Board Co.,
Ltd. |
: |
|
Dayglo Color Corporation |
: |
|
Eiki Industrial Co.,
Ltd. |
: |
|
Elof Hansson, Inc. |
: |
|
Encyclopaedia Britannica Education
Corporation |
: |
|
Eothen Films International |
: |
|
Franz Just &
Sohne |
: |
|
Fuji-Corana Seiki Ltd. |
: |
|
Ken-A-Vision Mfg., Inc. |
: |
|
Liquid Paper |
: |
|
Mecanorma |
: |
|
Mitsubishi Pencil Co.,
Ltd. |
: |
|
Neusidedler
Aktiengesellschaft Fur Papierfabrikation |
: |
|
Nystrom Division of
Carnation Company |
: |
|
Olympus Co., Ltd. |
: |
|
Reeves |
: |
|
Rexel Ltd. |
: |
|
Rotring Werke Riepe
KG. |
: |
|
Royal Sovereing Group
Speedry Marker Division |
: |
|
Sanford Corporation |
: |
|
Scan-Globes A/S |
: |
|
Schwan-Stabilo Schwanhausser
GmbH & Co. |
: |
|
Superior Specialties, Inc. |
: |
|
Uchida Yoko Co.,
Ltd. |
: |
|
Wiggins Teape [ |
: |
|
Wiggins Teape Overseas
Sales Ltd. |
: |
|
Wiggins Teape [ |
: |
|
Winsor & Newton
Ltd. |
: |
The subject has
received license to manufacture their
products as followed
:
|
Products |
Licensee |
|
|
|
|
- Mitsubishi Wood - Cased Pencils |
Mitsubishi Pencil Co., Ltd., |
|
- Extar Duplicating Stencils
and Ink |
Uchida Yoko Co., Ltd.,
|
|
- Stabilo - Boss Highlighters |
|
|
- Trodat Line Daters |
|
|
- Avery Self - Adhesive Labels |
Dennison-Danmark A/S, |
SALES
[LOCAL]
80% of its
products is sold
locally to wholesalers,
Thai Government, manufacturers
& retailers.
Market Shares
:
|
Highlighter |
“BOSS” |
60% |
|
Pen |
“CROSS” |
40% |
|
File |
“ELEPHANT” |
70% |
|
Paper |
“CONQUEROR” |
65% |
|
Writing instrument |
“ROTRING” |
90% |
EXPORT
[COUNTRY]
20% of its products under
“ELEPHANT” brand name;
labels, files &
etc. are exported
to Vietnam, Taiwan,
Singapore, Laos, Indonesia,
Republic of China,
Australia, Germany, United
Kingdom, Malaysia and
etc.
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.
SUBSIDIARIES &
AFFILIATED COMPANY
Universal Franchise Co.,
Ltd.
Business Type: Printing
house
Investment :
99.99 %
MEMBERSHIP OF ASSOCIATES
- The Thai Chamber
of Commerce
- The German-Thai Chamber
of Commerce
- The India-Thai Chamber
of Commerce
-
- The Federation of
Thai Industries
- The Thai Stationers
and Office Supplies
Association
- Thai Article Numbering
Council [TANC]
-
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 & T/T.
Exports are against
T/T.
BUSINESS TRANSACTION
The products are
sold both by
cash and credit
with the maximum
credit given at
30-60 days. There
is no problem
on its account
receivable.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office
:
Standard Chartered Bank [Thai]
Public Co., Ltd.
[
The Siam Commercial
Bank Public Co., Ltd.
[Head Office
:
EMPLOYMENT
The subject employs
approximately 500 staff. [office,
sales staff and
factory workers]
LOCATION DETAILS
The premise is owned for
operating office at
the heading address
in a prime
commercial area on
3,500 square meters.
·
The
factory I is
located at 101/27
Nava Nakorn Industrial
Estate. KM. 46,
·
The
factory II is
located at 21/11
Moo 9, Rojana
Industrial Park II, T.
Khanham, A. U-Thai, Ayutthaya
13120.
Depot is located
at 60/67 Nava
Nakorn Industrial Estate,
Phaholyothin Highway, Klongnueng,
Klongluang, Pathumthani Province
12120. Tel. [66] 2529-1732-40, Fax.
[66] 2529-1741, on
3,500 sq.m. of
area.
94 Moo 15,
Tel : [66]
2750-1540 Fax [66]
2750-1495.
REMARK
MAXIMUM CREDIT SHOULD
BE GRANTED AT
EUR 1,000,000.
COMMENT
The company is
the leading in
manufacturing, importing and
distributing of stationery
goods. It is
also the country’s
largest importer of
aluminum utensils, papers
and boards, and
the largest manufacturer
of exercise books,
notebooks and various
files. Moreover, its
factory is the
most advanced in
the stationery industry,
fully automatic machines.
DHAS is the
first company to
produce file clips
comparable in quality
to those made
abroad, and still
remain the only
exporter of file
mechanisms in Thailand.
With the strong
fundamental of its
system, the company
is still remained
in strong financial,
marketing and trading
strategy and also play
a leading role in
domestic stationary industry.
The subject
still has solid business from over 2,000
traditional stationery shops nationwide.
FINANCIAL INFORMATION
The capital was
registered at Bht.
120,000 divided into
1,200 shares of
Bht. 100 each.
The capital was
increased later as
follows:
Bht. 480,000
on March 13,
1995
Bht. 5,000,000
on April 8,
2008
The latest registered
capital was increased
to Bht. 5,000,000
divided into 50,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as at
April 30, 2010]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Mit Siamwalla Nationality: Thai Address : 127
Soi Soonvijai 14,
Huaykwang, |
7,626 |
15.25 |
|
Mr. Yingsak Siamwalla Nationality: Thai Address : 127
Soi Soonvijai 14,
Huaykwang, |
3,333 |
6.67 |
|
Mr. Opas Siamwalla Nationality: Thai Address : 127
Soi Soonvijai 14,
Huaykwang, |
3,333 |
6.67 |
|
Mr. Suharit Siamwalla Nationality: Thai Address : 127
Soi Soonvijai 14,
Huaykwang, |
3,333 |
6.67 |
|
Mr. Danuphol Siamwalla Nationality: Thai Address : 127
Soi Soonvijai 14,
Huaykwang, |
3,333 |
6.67 |
|
Mr. Ek Siamwalla Nationality: Thai Address
: 109 Soi
Soonvijai 14, Huaykwang, |
2,196 |
4.39 |
|
Mrs. Yasamin Jafery Nationality: Thai Address : 253 Ladprao 94 Rd., Wangthonglang,
|
1,917 |
3.83 |
|
Mr. Ammar Siamwalla Nationality: Thai Address : 105 Soi
Soonvijai 14, Huaykwang,
|
1,855 |
3.71 |
|
Others |
23,074 |
46.14 |
Total Shareholders : 13
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Somsith Techamontrikul No. 430
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2009 &
2008 were:
ASSETS
|
Current Assets |
2009 |
2008 |
|
|
|
|
|
Cash and Cash Equivalents |
52,902,178 |
58,839,207 |
|
Short-term Investment |
599,602,146 |
285,651,749 |
|
Trade Accounts &
Notes Receivable |
612,064,853 |
579,964,581 |
|
Inventories |
525,603,760 |
475,874,985 |
|
Other Current Assets
|
13,207,304 |
9,223,396 |
|
|
|
|
|
Total Current Assets
|
1,803,380,241 |
1,409,553,918 |
|
Investment in Subsidiary
|
19,999,300 |
19,999,300 |
|
Fixed Assets |
678,712,316 |
733,686,466 |
|
Other Assets |
2,743,820 |
3,935,141 |
|
Total Assets |
2,504,835,677 |
2,167,174,825 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2009 |
2008 |
|
|
|
|
|
Trade Accounts Payable |
150,093,190 |
91,870,298 |
|
Current Portion of Finance
Lease Contract Liabilities |
696,283 |
648,633 |
|
Accrued Income Tax |
54,570,212 |
35,417,036 |
|
Accrued Expenses |
78,001,161 |
77,888,040 |
|
Other Current Liabilities |
20,752,669 |
22,913,116 |
|
|
|
|
|
Total Current Liabilities |
304,113,515 |
228,737,123 |
|
Finance Lease Contract Liabilities |
4,649,984 |
5,346,267 |
|
Total Liabilities |
308,763,499 |
234,083,390 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 50,000 shares
|
5,000,000 |
5,000,000 |
|
|
|
|
|
Capital Paid |
5,000,000 |
5,000,000 |
|
Unrealized Gain/[Loss] from
Securities Available for |
8,627,779 |
[8,590,233] |
|
Retained Earning Appropriated for Statutory Reserve |
500,000 |
500,000 |
|
Other Reserve |
8,057,672 |
8,057,672 |
|
Unappropriated |
2,173,886,727 |
1,928,123,996 |
|
Total Shareholders' Equity |
2,196,072,178 |
1,933,091,435 |
|
Total Liabilities & Shareholders' Equity |
2,504,835,677 |
2,167,174,825 |
PROFIT & LOSS ACCOUNT
|
|
2009 |
2008 |
|
|
|
|
|
Sales |
2,327,950,131 |
2,347,861,543 |
|
Other Income |
40,461,679 |
41,192,100 |
|
Total Sales |
2,368,411,810 |
2,389,053,643 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,457,325,281 |
1,477,494,723 |
|
Selling Expenses |
363,324,750 |
392,851,873 |
|
Administrative Expenses |
87,926,736 |
88,504,834 |
|
Total Expenses |
1,908,576,767 |
1,958,851,430 |
|
|
|
|
|
Profit before Financial Cost & Income Tax |
459,835,043 |
430,202,213 |
|
Interest Expenses |
[242,892] |
[388,440] |
|
Profit before Income Tax |
459,592,151 |
429,813,773 |
|
Income Tax |
[93,829,420] |
[78,613,061] |
|
|
|
|
|
Net Profit / [Loss] |
365,762,731 |
351,200,712 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2009 |
2008 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
5.93 |
6.16 |
|
QUICK RATIO |
TIMES |
4.16 |
4.04 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.43 |
3.20 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.93 |
1.08 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
131.64 |
117.56 |
|
INVENTORY TURNOVER |
TIMES |
2.77 |
3.10 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
95.97 |
90.16 |
|
RECEIVABLES TURNOVER |
TIMES |
3.80 |
4.05 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
37.59 |
22.70 |
|
CASH CONVERSION CYCLE |
DAYS |
190.02 |
185.03 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
62.60 |
62.93 |
|
SELLING & ADMINISTRATION |
% |
19.38 |
20.50 |
|
INTEREST |
% |
0.01 |
0.02 |
|
GROSS PROFIT MARGIN |
% |
39.14 |
38.83 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
19.75 |
18.32 |
|
NET PROFIT MARGIN |
% |
15.71 |
14.96 |
|
RETURN ON EQUITY |
% |
16.66 |
18.17 |
|
RETURN ON ASSET |
% |
14.60 |
16.21 |
|
EARNING PER SHARE |
BAHT |
7,315.25 |
7,024.01 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.12 |
0.11 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.14 |
0.12 |
|
TIME INTEREST EARNED |
TIMES |
1,893.17 |
1,107.51 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
(0.85) |
|
|
OPERATING PROFIT |
% |
6.89 |
|
|
NET PROFIT |
% |
4.15 |
|
|
FIXED ASSETS |
% |
(7.49) |
|
|
TOTAL ASSETS |
% |
15.58 |
|
PROFITABILITY RATIO
|
Gross Profit Margin |
39.14 |
Impressive |
Industrial Average |
17.06 |
|
Net Profit Margin |
15.71 |
Impressive |
Industrial Average |
(15.92) |
|
Return on Assets |
14.60 |
Impressive |
Industrial Average |
(6.70) |
|
Return on Equity |
16.66 |
Impressive |
Industrial Average |
0.06 |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from sales 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 39.14%. 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 15.71% 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 14.6%, 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 16.66%, 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 |
5.93 |
Acceptable |
Industrial Average |
8.24 |
|
Quick Ratio |
4.16 |
|
|
|
|
Cash Conversion Cycle |
190.02 |
|
|
|
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 5.93 times in 2009, decrease from 6.16 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 4.16 times in 2009,
increase from 4.04 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 191 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.12 |
Impressive |
Industrial Average |
0.71 |
|
Debt to Equity Ratio |
0.14 |
Impressive |
Industrial Average |
1.98 |
|
Times Interest Earned |
1,893.17 |
Deteriorated |
Industrial Average |
5,697.57 |
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 1893.17 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 0.12 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 Uptrend
Times Interest Earned Uptrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.43 |
Deteriorated |
Industrial Average |
2,885.46 |
|
Total Assets Turnover |
0.93 |
Satisfactory |
Industrial Average |
1.15 |
|
Inventory Conversion Period |
131.64 |
|
|
|
|
Inventory Turnover |
2.77 |
Deteriorated |
Industrial Average |
6.05 |
|
Receivables Conversion Period |
95.97 |
|
|
|
|
Receivables Turnover |
3.80 |
Acceptable |
Industrial Average |
6.30 |
|
Payables Conversion Period |
37.59 |
|
|
|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
|
|
1 |
Rs.72.93 |
|
Euro |
1 |
Rs.64.72 |
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 |
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.