MIRA INFORM REPORT
|
Report Date : |
12.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
PATKOL
PUBLIC COMPANY LIMITED |
|
|
|
|
Registered Office : |
348 Chalermprakiat R. 9 Road, Nongbon, Prawet, Bangkok 10250 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
29.11.1965 |
|
|
|
|
Com. Reg. No.: |
0107536000587 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
Manufacturer
and Distributor of
Industrial Equipment and Machinery |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment
Behaviour : |
Unknown |
|
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) |
|
Thailand |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
company name
PATKOL
PUBLIC COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 348
CHALERMPRAKIAT R. 9 ROAD,
NONGBON, PRAWET,
BANGKOK 10250
TELEPHONE : [66]
2328-1032
FAX :
[66] 2328-1245
E-MAIL
ADDRESS : sureerats@patkol.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1965
REGISTRATION
NO. : 0107536000587 [Former
: BOR. MOR. JOR. 132]
CAPITAL
REGISTERED : BHT.
325,230,100
CAPITAL
PAID-UP : BHT.
272,230,101
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PUBLIC LIMITED
COMPANY
EXECUTIVE : MR.
PIYA CHONGVATANA, THAI
PRESIDENT
NO.
OF STAFF : 578
LINES
OF BUSINESS : INDUSTRIAL
EQUIPMENT AND MACHINERY
MANUFACTURER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING
NORMALLY
REPUTATION : FAIR
FOR NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT
WITH LOW PERFORMANCE
HISTORY
The subject was
established on November
29, 1965 as
a private limited
company under the
registered name Patanakolkarn Co.,
Ltd. by a
Thai group, Chongvatana
family.
On February 12,
1992, the subject’s
name was changed
to Patkol Co.,
Ltd.
On June 28,
1993, the subject
registered a change
of its status
to a public
limited company under
the name PATKOL
PUBLIC COMPANY LIMITED. On
August 31, 1992,
it was listed
on the Stock
Exchange of Thailand.
It currently employs
578 staff.
Subject’s business objective is to
engage in ice
making, refrigerating and
cooling system machinery
and equipment production,
which divided into 7
product departments, operating
through the company
and its subsidiaries.
Awards:
1991 - Prime
Minister Export Award
on the category
of original design
2001
-
PATKOL Tube Ice
Maker achieved the
Prime Minister’s Award
for Distinctive
Development &
Marketing of Thai
Owned Brands
The
subject’s registered address
was initially located
at 20/14-15 Moo
10, Sukhumvit 103
Rd., Nongbon, Prawet,
Bangkok 10250.
In
2005, its registered
address has been
changed to 348
Chalermprakiat R. 9 Rd.,
Nongbon, Prawet, Bangkok
10250, and this
is the company’s
current operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality
|
Age
|
|
|
|
|
|
|
Mr. Piya Chongvatana
: Chairman |
[x] |
Thai |
66 |
|
Mr. Virachai Srikajon |
|
Thai |
58 |
|
Mr. Paradorn Chulajata |
[-] |
Thai |
47 |
|
Mr. Suchart Sooksumitr |
|
Thai |
75 |
|
Mr. Sangchai Chotechuangchutchaval |
[x] |
Thai |
55 |
|
Mr. Preecha Jantarangkul |
|
Thai |
68 |
|
Ms. Nongluck Sakdakrai |
|
Thai |
37 |
|
Mrs. Anongsiri Chaiyakul |
[-] |
Thai |
68 |
|
Mr. Somchob Chaiyavej |
|
Thai |
75 |
|
Mr. Panet Chongvatana |
[x] |
Thai |
35 |
|
Mr. Sumet Jiambutr |
[-] |
Thai |
57 |
AUTHORIZED PERSON
Two of the
mentioned directors [x]
jointly sign or one of the
directors [x] jointly
signs with one
of the directors
[-] on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Piya Chongvatana
is the President.
He is Thai
nationality with the
age of 66 years old.
Mr. Sangchai
Chotechuangchutchaval is the
Executive Director of
Business Group.
He is
Thai nationality with
the age of
55 years old.
Mr. Sumet Jiambutr is the
Executive Director of
Production.
He is
Thai nationality with
the age of
57 years old.
Mr. Panet Chongvatana is the
Executive Director of
General Affairs.
He is
Thai nationality with
the age of
35 years old.
Mr. Sombatt Srichainont
is the Executive
Director of Petrochemical
Business.
He is
Thai nationality.
Mr. Adisak Poolsri is
the Executive Director
of Technical & Development.
He is
Thai nationality.
BUSINESS OPERATIONS
The subject’s activity is a manufacturer
wide ranges of industrial
equipment and machinery which
are divided into
7 departments as
follows:
1
Ice
Machine Department
2
Refrigerated
and cooling industrial
machine system Department
3
Liquid
production machine system
Department
4
Food
processed industrial equipment
Department
5
Turnkey
project and alternative
energy project construction
Department
6
Petrochemical
business Department
7
Service
and maintenance works
Department.
PURCHASE
80% of raw
material is purchased
from suppliers, the
remaining 20% is
imported from Germany,
United Kingdom, France,
Taiwan, Republic of
China and Japan.
MAJOR SUPPLIERS
Patkol Manufacturing Co.,
Ltd. : Thailand
Riple Plate [Thailand]
Co., Ltd. :
Thailand
Sahaviriya Steel Industries
Public Co., Ltd. : Thailand
SALES
90% of the
products is sold
locally by wholesale
to dealers and
by retail to
food and industrial
manufacturers, the remaining 10%
is exported to
Malaysia, Indonesia, Singapore,
Philippines, Africa, Australia,
Pakistan, Vietnam, Cyprus,
Fiji, Maldives and
Middle East country.
MAJOR CUSTOMERS
Atlas Edible Sdn. Bhd. : Malaysia
City Edible Ice : Malaysia
Beh Ice Enterprise
Malaysia Igloo Ice : Malaysia
PT. Dwiwira Pstra Dinamika : Indonesia
PT. ES Hupindo : Indonesia
CV. Tirtasari Flora
Grata : Indonesia
PT. Sentral Serjuk
Sejati : Indonesia
Jurong Marine Coldstorage [PTD]. Ltd. : Singapore
Tuck Lee Ice
Work [1957] PTE : Singapore
Samson Enterprise Inc. : Philippines
Venus Distributor : Pakistan
Charlys Ice Works
Co., Ltd. : Cyprus
Colimex Export And International
Cooperation Co., Ltd.:
Vietnam
Veit Hong Co., Ltd. : Vietnam
SUBSIDIARIES & AFFILIATED
COMPANIES
Patkol [1984]
Co., Ltd.
Business Type : Install
and repair service
of machines and
equipment
Investment : The
subject holds 99.98%
of the company’s shares.
PKB Enterprise Co.,
Ltd.
Business Type : Manufacture & import
foam plate and equipment
for cold room
business
Investment : The
subject holds 80.00%
of the company’s
shares.
Riple Plate [Thailand]
Co., Ltd.
Business Type : Manufacture
and sale of
water cooler
Investment : The
subject holds 50.93%
of the company’s
shares.
Siam Patkol Co.,
Ltd.
Business Type : Manufacture
and sale the
cooling system equipment
Investment : The
subject holds 99.98%
of the company’s
shares.
PK Business Solution
Co., Ltd.
Business Type : Sale computer
hardware and software
and computer system
service
Investment : The subject
holds 99.99% of the company’s
shares.
Patkol Manufacturing Co.,
Ltd.
Business Type : Manufacture
and distribute industrial
machinery and parts.
Investment : The subject
holds 100% of the company’s
shares.
LITIGATION
Bankruptcy and
Receivership
On October 20, 2009, the
Central Bankruptcy Court
ordered the company
in accordance to
the lawsuit red
case no. For
30/2552 to rehabilitate its organization,
and appointed the company as
the Plan Administer.
As a
result of such
Court order, the
power and duties
of the company
shall be vested
in the Plan Administrator
according to Article
90/59 of Bankruptcy
Act B.E. 2483.
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 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
L/C at sight
or T/T.
BUSINESS TRANSACTION
Most of
the products are
sold by credit
with the maximum
credit given at
30-60 days. The subject
is not found
to have payment
problem by customers.
BANKING
Krung Thai
Bank Public Co.,
Ltd.
[Head
Office : 35
Sukhumvit Rd., Klongtoeynua,
Watana, Bangkok 10110]
The Siam
Commercial Bank Public
Co., Ltd.
[Head
Office : 9 Ratchadapisek Rd.,
Ladyao, Jatujak, Bangkok
10900]
Kasikornbank Public
Co., Ltd.
[Head
Office : 1
Kasikorn Lane, Rajburana
Rd., Rajburana, Bangkok
10140]
Siam City
Bank Public Co.,
Ltd.
[Head
Office : 1101
New Petchburi Rd.,
Makasan, Rajthevee, Bangkok 10400]
EMPLOYMENT
The subject employs
approximately 578 office
and service staff and
factory workers.
LOCATION DETAILS
The premise is
owned for administrative office
at the heading
address. It is
located in commercial/residential area.
Factory & Warehouse
are located at
129 Moo 3,
Petchkasem Rd., K.M.
129, Huayrong, Khaoyoi,
Petchburi 76140.
REMARK
MAXIMUM CREDIT SHOULD
BE GRANTED AT
US$ 5,000,000.
COMMENT
The subject is
well accepted in
the industrial and
engineering circles as the
engineering firm and
not just a firm
who manufacture only
refrigeration of food processing machineries.
Its turnkey projects are
well known to all
the investors that it
could reduce the
stress of the investors
from working with several
sub-contractors and could
have good team of
construction and installation.
Its business performance is excellent
on going with
several project in progress.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 3,000,000 divided into
3,000 shares of
Bht. 1,000 each.
The capital was
increased later as
follows:
Bht.
30,000,000 on August
2, 1989
Bht.
60,000,000 on July
19, 1990
Bht.
90,000,000 on February
12, 1992
Bht.
106,000,000 in 1993
The latest capital
was increased to
Bht. 325,230,100 divided into
325,230,100 shares of
Bht. 1 each
with Bht. 272,230,101 paid
up.
MAIN SHAREHOLDERS : [as at April
10, 2009] at
Bht. 238,486,001 of
capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Piya Chongvatana |
31,316,844 |
13.13 |
|
Mrs. Viapa Chulajata |
31,116,475 |
13.05 |
|
Ms. Ratchanee Chongvatana |
28,879,942 |
12.11 |
|
Mr. Sangchai Chotechuangchutchaval |
25,773,303 |
10.81 |
|
Ms. Nongluck Sakdakrai |
20,000,000 |
8.39 |
|
Thai NVDR Co.,
Ltd. |
13,401,550 |
5.62 |
|
Mrs. Noppavan Chongvatana
|
12,624,151 |
5.29 |
|
Mrs. Pornpana Sakdakrai |
9,000,000 |
3.77 |
|
Swee Cheng Investments
Pte. Ltd. |
4,586,038 |
1.92 |
|
Mr. Panate Chongvatana |
3,548,742 |
1.49 |
|
Mr. Paradorn Chulajata |
2,499,500 |
1.05 |
|
Ms. Varaporn Harnkraivilai |
2,250,000 |
0.94 |
|
Ms. Thitikarn Chongvatana |
1,774,371 |
0.74 |
|
Mr. Anuchit Veerawithiwong |
1,200,000 |
0.50 |
|
Others |
50,515,085 |
21.19 |
Total Shareholders :
1,166
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Suvimol Kritayakian No.
2982
BALANCE SHEET [BAHT]
The latest
financial figures published as at December
31, 2010 &
2009 were:
ASSETS
|
Current Assets |
2010 |
2009 |
|
|
|
|
|
Cash and Cash
Equivalent |
282,122,463 |
78,257,007 |
|
Trade Accounts Receivable |
350,064,864 |
333,763,657 |
|
Trade Accounts Receivable-Related Company |
611,045 |
1,291,170 |
|
Current Portion of
Installments Receivable |
1,224,363 |
20,910,604 |
|
Unbilled Sales from
Sales & Services |
165,287,664 |
132,277,163 |
|
Inventories |
124,261,031 |
105,382,717 |
|
Other Assets Retention |
41,764,219 |
21,147,732 |
|
Prepaid Payment |
26,089,819 |
16,721,749 |
|
Sale Department
Receivable |
- |
1,619,659 |
|
Advance Payment
Receivable |
19,229,857 |
4,352,042 |
|
Others |
15,438,132 |
9,114,544 |
|
|
|
|
|
Total Current Assets
|
1,026,093,457 |
724,838,044 |
|
Installments Receivable |
2,676,800 |
5,216,150 |
|
Cash at Bank
under Equity Method |
3,480,599 |
3,467,590 |
|
Restricted Investment |
110,248,925 |
113,248,325 |
|
Fixed Assets |
425,214,409 |
445,621,484 |
|
Non-operation Land |
19,247,500 |
19,247,500 |
|
Intangible Assets |
10,434,411 |
19,424,505 |
|
Other Assets Land not
used in Operation |
60,751,989 |
53,503,830 |
|
Others |
2,371,300 |
2,084,000 |
|
Total Assets |
1,660,519,390 |
1,386,651,428 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2010 |
2009 |
|
|
|
|
|
Bank Overdraft & Short-term Loan from Bank |
1,038,516,116 |
1,066,567,218 |
|
Trade Accounts Payable |
398,130,370 |
366,597,869 |
|
Account Payable -
Related Company |
68,924,672 |
113,005,091 |
|
Current Portion of
Liabilities under Debt Restructuring Agreement
|
119,082,977 |
121,856,248 |
|
Current Portion of
Long-term Liabilities |
- |
2,291,884 |
|
Short-term Loan from
Other Person |
7,000,000 |
7,000,000 |
|
Short-term Loan from
Person and Related Company |
50,400,000 |
50,400,000 |
|
Compensation Liabilities |
123,935,385 |
123,935,385 |
|
Other Current Liabilities |
|
|
|
Unbilled Completed
Work |
363,108,776 |
298,439,954 |
|
Estimated Liabilities |
11,523,393 |
9,074,249 |
|
Accrued Expenses |
296,039,878 |
116,575,270 |
|
Retention |
58,127,292 |
57,487,449 |
|
Others |
46,319,916 |
39,376,072 |
|
|
|
|
|
Total Current Liabilities |
2,581,108,775 |
2,372,606,689 |
|
Long-term Loan from
Related Person |
43,200,000 |
43,200,000 |
|
|
|
|
|
Total Liabilities |
2,624,308,775 |
2,415,806,689 |
|
|
2010 |
2009 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 1
par value Authorized &
Issued Share Capital
at 325,230,100 shares |
325,230,100 |
325,230,100 |
|
|
|
|
|
Capital Paid |
272,230,101 |
272,230,101 |
|
Premium on Share Capital |
4 |
4 |
|
Deficit on Share
Capital |
[22,088,943] |
[22,088,943] |
|
Revaluation Increment in
Land |
317,398,286 |
319,653,127 |
|
Retained Earning Appropriated for
Statutory Reserve |
32,000,000 |
32,000,000 |
|
Unappropriated |
[1,563,328,833] |
[1,630,949,550] |
|
Total Shareholders' Equity |
[963,789,385] |
[1,029,155,261] |
|
Total Liabilities &
Shareholders' Equity |
1,660,519,390 |
1,386,651,428 |
PROFIT & LOSS ACCOUNT
|
Sale |
2010 |
2009 |
|
|
|
|
|
Sales & Services
Income |
2,339,337,198 |
1,647,472,495 |
|
Other Income |
|
|
|
Dividend |
- |
13,039,844 |
|
Other |
18,788,181 |
18,923,809 |
|
Total Sales |
2,358,125,379 |
1,679,436,148 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold & Services
|
1,836,809,699 |
1,556,400,743 |
|
Selling Expenses |
85,548,074 |
48,136,068 |
|
Administrative Expenses |
176,710,157 |
126,435,522 |
|
Director’s Remuneration |
2,460,400 |
2,445,400 |
|
Management Remuneration |
26,305,927 |
26,649,909 |
|
Loss on Diminution
of Investment |
2,999,400 |
- |
|
Loss on Diminution
of Assets |
5,122,479 |
608,642 |
|
Loss on Doubtful
Account |
471,692 |
736,253,040 |
|
Total Expenses |
2,136,427,828 |
2,496,929,324 |
|
|
|
|
|
Profit/[Loss] before Interest
Expenses & Income Tax |
221,697,551 |
[817,493,176] |
|
Financial Cost-Interest Expenses |
[154,076,834] |
[142,553,272] |
|
|
|
|
|
Net Profit / [Loss] |
67,620,717 |
[960,046,448] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2010 |
2009 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
0.40 |
0.31 |
|
QUICK RATIO |
TIMES |
0.35 |
0.26 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.50 |
3.70 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.41 |
1.19 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
24.69 |
24.71 |
|
INVENTORY TURNOVER |
TIMES |
14.78 |
14.77 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
54.62 |
73.95 |
|
RECEIVABLES TURNOVER |
TIMES |
6.68 |
4.94 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
79.11 |
85.97 |
|
CASH CONVERSION CYCLE |
DAYS |
0.20 |
12.69 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
78.52 |
94.47 |
|
SELLING & ADMINISTRATION |
% |
11.21 |
10.60 |
|
INTEREST |
% |
6.59 |
8.65 |
|
GROSS PROFIT MARGIN |
% |
22.28 |
7.47 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
9.48 |
(49.62) |
|
NET PROFIT MARGIN |
% |
2.89 |
(58.27) |
|
RETURN ON EQUITY |
% |
(7.02) |
93.28 |
|
RETURN ON ASSET |
% |
4.07 |
(69.23) |
|
EARNING PER SHARE |
BAHT |
0.25 |
(3.53) |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
1.58 |
1.74 |
|
DEBT TO EQUITY RATIO |
TIMES |
(2.72) |
(2.35) |
|
TIME INTEREST EARNED |
TIMES |
1.44 |
(5.73) |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
42.00 |
|
|
OPERATING PROFIT |
% |
(127.12) |
|
|
NET PROFIT |
% |
107.04 |
|
|
FIXED ASSETS |
% |
(4.58) |
|
|
TOTAL ASSETS |
% |
19.75 |
|
PROFITABILITY RATIO
|
Gross Profit Margin |
22.28 |
Satisfactory |
Industrial Average |
25.80 |
|
Net Profit Margin |
2.89 |
Impressive |
Industrial Average |
(4.45) |
|
Return on Assets |
4.07 |
Impressive |
Industrial Average |
(0.23) |
|
Return on Equity |
(7.02) |
Deteriorated |
Industrial Average |
(5.14) |
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 22.28%. When compared with
the industry average, the ratio of the company was lower. This indicated that
company was originated from the 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 2.89%
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 4.07%,
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 -7.02%.
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 |
0.40 |
Risky |
Industrial Average |
15.12 |
|
Quick Ratio |
0.35 |
|
|
|
|
Cash Conversion Cycle |
0.20 |
|
|
|
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 0.4 times in 2010, increase from 0.31 times, then the company may not be
efficiently using its current assets. 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 0.35 times in 2010,
increase from 0.26 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 1 day.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
1.58 |
Impressive |
Industrial Average |
0.56 |
|
Debt to Equity Ratio |
(2.72) |
Risky |
Industrial Average |
1.25 |
|
Times Interest Earned |
1.44 |
Deteriorated |
Industrial Average |
39.51 |
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 1.44 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 1.58 greater 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 Uptrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
5.50 |
Deteriorated |
Industrial Average |
281.09 |
|
Total Assets Turnover |
1.41 |
Impressive |
Industrial Average |
1.27 |
|
Inventory Conversion Period |
24.69 |
|
|
|
|
Inventory Turnover |
14.78 |
Satisfactory |
Industrial Average |
16.32 |
|
Receivables Conversion Period |
54.62 |
|
|
|
|
Receivables Turnover |
6.68 |
Satisfactory |
Industrial Average |
8.55 |
|
Payables Conversion Period |
79.11 |
|
|
|
Trend of the average
competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Downtrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.69 |
|
UK Pound |
1 |
Rs.73.12 |
|
Euro |
1 |
Rs.64.39 |
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.