%20LTD%20%20-%20160459%2018-Nov-2011_files/image002.jpg){kind=small}
MIRA INFORM REPORT
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Report Date : |
18.11.2011 |
IDENTIFICATION DETAILS
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Name : |
THOR SPECIALITIES (UK) LTD. |
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Registered Office : |
Wincham Avenue, Wincham, Northwich, CW9 6GB |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
14.10.1983 |
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Com. Reg. No.: |
01761700 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
manufacturer and supplier
of biocides, flame retardants, personal care ingredients and speciality
chemicals |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
United Kingdom |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Thor Specialities (UK) Ltd.
Wincham Avenue
Wincham
Northwich, CW9 6GB
United Kingdom
Tel: 01606818800
Fax: 01606818801
Web: www.thor.com
Synthesis
Employees: 81
Company Type: Private Subsidiary
Corporate Family: 7
Companies
Ultimate Parent: Tato
Holdings Ltd.
Quoted Status: Non-quoted
Company
Incorporation Date: 14-Oct-1983
Auditor: Mazars LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: British
Pound Sterling
Annual Sales: 45.2
1
Net Income: 2.2
Total Assets: 45.1
Business Description
Thor Specialities
(UK) Ltd. is a multinational manufacturer and supplier of biocides, flame
retardants, personal care ingredients and speciality chemicals. The company
serves clients in the cosmetics, plastics, building and construction
industries. It provides biocides for the protection of water and fuel
interfaces. The company offers flame-retardant biocides to protect synthetic
and natural fibres to the textile industry. It provides softening and
antistatic agents for hair rinses and conditioners. The company undertakes
various research and development projects. It provides technical support,
regulatory backup and registration assistance solutions. The company maintains
and operates in-house vitro toxicology laboratories. It provides products under
the ACTICIDE, AFLAMMIT and FLAMMENTIN brands.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1899 - Other Basic
Chemical Product Manufacturing Not Elsewhere Classified
NACE 2002: 2466 - Manufacture
of other chemical products not elsewhere classified
NAICS 2002: 325998 - All Other
Miscellaneous Chemical Product and Preparation Manufacturing
UK SIC 2003: 2466 - Manufacture
of other chemical products not elsewhere classified
US SIC 1987: 2899 - Chemicals
and Chemical Preparations, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Steve Charlton |
Sales Director |
|
John David Sykes |
Secretary |
|
Chris Priestley |
IT & Purchasing Manager |
|
Kenneth John Seal |
Regulatory Affairs Director |
|
David Alain Hewitt |
Director |
Financial Summary
FYE: 31-Dec-2010 USD (mil)
Key Figures
Current Assets 22.46
Fixed Assets 22.64
Total Liabilities 7.74
Net Worth 35.74
Key Ratios
Current Ratio 2.90
Acid Test 1.43
Registered No.(UK): 01761700
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6475734
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6387123
Corporate Overview
Location
Wincham Avenue
Wincham
Northwich, CW9 6GB
Cheshire County
United Kingdom
Tel: 01606818800
Fax: 01606818801
Web: www.thor.com
Sales GBP(mil): 29.3
Assets GBP(mil): 28.8
Employees: 81
Fiscal Year End: 31-Dec-2010
Industry: Chemical
Manufacturing
Registered
Address:
Wincham Avenue
Wincham
Northwich, CW9 6GB
United Kingdom
Incorporation Date: 14-Oct-1983
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(UK): 01761700
Director: David
Alain Hewitt
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1899 - Other Basic Chemical Product Manufacturing Not Elsewhere
Classified
NACE 2002 Codes:
2466 - Manufacture of other chemical products not elsewhere
classified
NAICS 2002 Codes:
325998 - All Other Miscellaneous Chemical Product and Preparation
Manufacturing
US SIC 1987:
2899 - Chemicals and Chemical Preparations, Not Elsewhere
Classified
UK SIC 2003:
2466 - Manufacture of other chemical products not elsewhere
classified
Business
Description
Thor Specialities
(UK) Ltd. is a multinational manufacturer and supplier of biocides, flame retardants,
personal care ingredients and speciality chemicals. The company serves clients
in the cosmetics, plastics, building and construction industries. It provides
biocides for the protection of water and fuel interfaces. The company offers
flame-retardant biocides to protect synthetic and natural fibres to the textile
industry. It provides softening and antistatic agents for hair rinses and
conditioners. The company undertakes various research and development projects.
It provides technical support, regulatory backup and registration assistance
solutions. The company maintains and operates in-house vitro toxicology
laboratories. It provides products under the ACTICIDE, AFLAMMIT and FLAMMENTIN
brands.
More Business
Descriptions
· Manufacture and distribution of chemicals.
· Chemicals and Allied Products
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Corporate Family |
Corporate Structure News: |
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Thor
Specialities (UK) Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Canterbury |
United Kingdom |
Business Services |
348.2 |
963 |
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Subsidiary |
Northwich |
United Kingdom |
Chemical Manufacturing |
45.2 |
81 |
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Subsidiary |
Castellgali, Barcelona |
Spain |
Chemical Manufacturing |
29.1 |
52 |
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Subsidiary |
Margate |
United Kingdom |
Commercial Banks |
4.1 |
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Subsidiary |
São Paulo, São Paulo |
Brazil |
Miscellaneous Capital Goods |
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Subsidiary |
Querétero |
Mexico |
Miscellaneous Capital Goods |
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Subsidiary |
Istanbul, Istanbul |
Turkey |
Miscellaneous Capital Goods |
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Executive report
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Board of Directors |
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Director |
Director/Board Member |
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Executives |
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Secretary |
Company Secretary |
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Secretary & PA |
Human Resources Executive |
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Sales Director |
Sales Executive |
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IT & Purchasing Manager |
Information Executive |
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Regulatory Affairs Director |
Other |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 01606818800 |
Annual Return Date: 06 Jul 2011 |
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
16 Mar 1948 |
40 Clement Road, Marple Bridge, |
01 Aug 1994 |
NA |
Current:1 |
|
|
|
Current |
24 May 1960 |
4 Whitehaven Road, Bramhall, |
18 Jul 1991 |
NA |
Current:2 |
|
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|
Previous |
24 Mar 1941 |
36 Princes Gardens, Cliftonville, |
25 Oct 1991 |
01 Feb 1996 |
Current:1 |
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|
Previous |
12 Jan 1937 |
7 Brambling Close, Offerton, |
18 Jul 1991 |
01 Apr 1999 |
Current:0 |
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|
Previous |
24 Jul 1946 |
6 Glentress Mews, Heaton, |
03 May 1994 |
30 Jun 2008 |
Current:0 |
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Corporate Directors |
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There are no corporate directors for this company. |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
NA |
20 Mere House, Arbour Walk Helsby, |
15 Jul 2010 |
NA |
Current:1 |
|
|
|
Previous |
24 May 1960 |
4 Whitehaven Road, Bramhall, |
18 Jul 1991 |
21 Feb 1996 |
Current:2 |
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|
Previous |
NA |
51 Lanthorne Road, |
21 Feb 1996 |
15 Jul 2010 |
Current:2 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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Individual Shareholders |
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There are no individual shareholders for this company. |
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Corporate Shareholders |
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Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
03258156 |
14650000 Ordinary GBP 1.00 |
Ordinary |
14,650,000 |
1.00 |
14,650,000.00 |
100.00 |
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Annual Profit & Loss
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.647573 |
0.641508 |
0.545576 |
0.499878 |
0.543438 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Turnover (UK) |
23.5 |
21.5 |
24.9 |
- |
20.4 |
|
Turnover (Exports) |
21.7 |
19.5 |
24.2 |
- |
21.8 |
|
Total Turnover |
45.2 |
41.0 |
49.1 |
46.7 |
42.2 |
|
Cost of Sales |
34.7 |
32.6 |
37.3 |
34.8 |
32.6 |
|
Gross Profit |
10.5 |
8.4 |
11.8 |
11.9 |
9.5 |
|
Depreciation |
1.9 |
1.9 |
2.2 |
1.8 |
1.6 |
|
Other Expenses |
8.1 |
7.4 |
9.3 |
9.1 |
7.5 |
|
Operating Profit |
- |
- |
2.5 |
2.8 |
- |
|
Other Income |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Interest Paid |
0.0 |
0.0 |
0.1 |
0.1 |
0.4 |
|
Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Profit Before Taxes |
2.5 |
0.9 |
2.5 |
2.8 |
1.8 |
|
Tax Payable / Credit |
0.3 |
0.4 |
0.6 |
0.9 |
0.5 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit After Taxes |
2.2 |
0.6 |
1.8 |
2.0 |
1.2 |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Non Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Number of Employees |
81 |
80 |
85 |
82 |
84 |
|
Wages |
4.1 |
3.9 |
4.8 |
4.6 |
4.2 |
|
Social Security Costs |
0.5 |
0.5 |
0.6 |
0.6 |
0.5 |
|
Pensions |
0.0 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Other Pension Costs |
0.4 |
0.4 |
0.5 |
0.5 |
0.4 |
|
Employees Remuneration |
5.0 |
4.8 |
5.8 |
5.7 |
5.1 |
|
Directors Emoluments |
0.4 |
0.4 |
0.6 |
0.6 |
0.5 |
|
Other Costs |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Directors Remuneration |
0.5 |
0.5 |
0.6 |
0.7 |
0.5 |
|
Highest Paid Director |
0.3 |
0.3 |
0.4 |
0.4 |
0.3 |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.638712 |
0.619253 |
0.695531 |
0.502361 |
0.510947 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Land & Buildings |
15.0 |
15.1 |
13.2 |
22.0 |
18.6 |
|
Fixtures & Fittings |
0.2 |
0.1 |
0.1 |
0.3 |
0.3 |
|
Plant & Vehicles |
7.5 |
8.3 |
8.4 |
6.3 |
7.2 |
|
Total Tangible Fixed Assets |
22.6 |
23.5 |
21.7 |
28.6 |
26.1 |
|
Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Fixed Assets |
22.6 |
23.5 |
21.7 |
28.6 |
26.1 |
|
Stocks |
11.4 |
8.2 |
6.6 |
7.0 |
6.3 |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Stocks Work In Progress |
11.4 |
8.2 |
6.6 |
7.0 |
6.3 |
|
Trade Debtors |
6.1 |
6.2 |
6.1 |
7.1 |
5.9 |
|
Inter-Company Debtors |
0.7 |
0.7 |
1.2 |
2.2 |
1.0 |
|
Other Debtors |
0.1 |
0.3 |
0.2 |
0.3 |
0.7 |
|
Total Debtors |
6.9 |
7.2 |
7.5 |
9.5 |
7.6 |
|
Cash and Equivalents |
4.1 |
1.6 |
0.5 |
0.3 |
1.7 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
22.5 |
17.0 |
14.6 |
16.8 |
15.6 |
|
Total Assets |
45.1 |
40.5 |
36.3 |
45.3 |
41.6 |
|
Trade Creditors |
1.7 |
1.3 |
1.3 |
1.5 |
1.4 |
|
Bank Overdraft |
- |
0.0 |
0.3 |
1.5 |
1.3 |
|
Inter-Company Creditors |
4.4 |
1.3 |
1.5 |
1.3 |
1.3 |
|
Accruals/Deferred Income (Current Liability) |
1.0 |
0.6 |
0.6 |
0.8 |
0.5 |
|
Social Security/VAT |
0.4 |
0.4 |
0.4 |
0.4 |
0.5 |
|
Corporation Tax |
0.2 |
0.0 |
0.0 |
0.2 |
0.0 |
|
Other Current Liabilities |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Total Current Liabilities |
7.7 |
3.7 |
4.1 |
5.8 |
5.0 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Taxation |
1.6 |
2.1 |
1.9 |
2.6 |
2.2 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
1.6 |
2.1 |
1.9 |
2.6 |
2.2 |
|
Issued Capital |
19.6 |
20.2 |
18.0 |
21.9 |
21.5 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
16.2 |
14.4 |
12.3 |
15.1 |
12.9 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Shareholders Funds |
35.7 |
34.6 |
30.3 |
37.0 |
34.4 |
|
Net Worth |
35.7 |
34.6 |
30.3 |
37.0 |
34.4 |
Annual Cash Flows
Financials in: USD
(mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.647573 |
0.641508 |
0.545576 |
0.499878 |
0.543438 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
Annual Ratios
Financials in: USD
(mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.638712 |
0.619253 |
0.695531 |
0.502361 |
0.510947 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
2.90 |
4.56 |
3.53 |
2.90 |
3.12 |
|
Liquidity Ratio |
1.43 |
2.35 |
1.95 |
1.70 |
1.86 |
|
Stock Turnover |
4.03 |
5.16 |
5.88 |
6.65 |
7.12 |
|
Credit Period (Days) |
48.77 |
53.61 |
58.02 |
55.72 |
47.73 |
|
Working Capital by Sales |
32.12% |
31.22% |
27.20% |
23.67% |
23.60% |
|
Trade Credit by Debtors |
0.28 |
0.21 |
0.21 |
0.21 |
0.25 |
|
Return on Capital |
6.66% |
2.60% |
5.99% |
7.10% |
5.09% |
|
Return on Assets |
5.51% |
2.36% |
5.31% |
6.19% |
4.48% |
|
Profit Margin |
5.42% |
2.24% |
5.00% |
6.04% |
4.16% |
|
Return on Shareholders Funds |
6.96% |
2.76% |
6.36% |
7.59% |
5.41% |
|
Borrowing Ratio |
12.22% |
3.80% |
5.93% |
7.71% |
7.48% |
|
Equity Gearing |
79.25% |
85.47% |
83.49% |
81.57% |
82.73% |
|
Interest Coverage |
142.39 |
114.44 |
46.35 |
40.15 |
4.84 |
|
Sales by Tangible Assets |
2.02 |
1.81 |
1.78 |
1.63 |
1.72 |
|
Average Remuneration per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Profit per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
0.6 |
0.5 |
0.5 |
0.6 |
0.5 |
|
Capital Employed per Employee |
0.5 |
0.5 |
0.4 |
0.5 |
0.4 |
|
Tangible Assets per Employee |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Total Assets per Employee |
0.6 |
0.5 |
0.4 |
0.6 |
0.5 |
|
Employee Remuneration by Sales |
11.15% |
11.69% |
11.91% |
12.25% |
12.20% |
|
Creditor Days (Cost of Sales Based) |
17.93 |
14.28 |
16.25 |
15.37 |
15.23 |
|
Creditor Days (Sales Based) |
13.78 |
11.37 |
12.35 |
11.45 |
11.79 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.72 |
|
UK Pound |
1 |
Rs.79.88 |
|
Euro |
1 |
Rs.68.64 |
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.