MIRA
INFORM REPORT
|
Report Date : |
28.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
PHELPS DODGE INTERNATIONAL [THAILAND] LIMITED |
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|
|
|
Formerly Known As : |
PHELPS DODGE [THAILAND] LTD. |
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Registered Office : |
159 Moo 10, Theparak Road, Bangpla, Bangplee, Samutprakarn 10540 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
04.06.1968 |
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Com. Reg. No.: |
0105511002860 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Distributor and Exporter of Electric Wire and Cable |
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No. of Employees : |
680 |
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 |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
PHELPS
DODGE INTERNATIONAL [
[FORMER : PHELPS DODGE
[
SUMMARY
BUSINESS
ADDRESS : 159
MOO 10,
BANGPLEE, SAMUTPRAKARN
10540
TELEPHONE : [66] 2769-2400
FAX :
[66] 2769-2440
E-MAIL
ADDRESS : ssuppari@phelpsdodge.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1968
REGISTRATION
NO. : 0105511002860 [Former
: 347/2511]
TAX
ID NO. : 3271002797
CAPITAL REGISTERED : BHT. 44,000,000
CAPITAL PAID-UP : BHT.
44,000,000
SHAREHOLDER’S PROPORTION : AMERICAN : 75.47%
THAI : 24.53%
FISCAL YEAR CLOSING DATE : DECEMBER
31
LEGAL
STATUS : PRIVATE
LIMITED COMPANY
EXECUTIVE : MR. PETER
ARMSTRONG
AMERICAN
PRESIDENT AND
MANAGING DIRECTOR
NO.
OF STAFF : 680
LINES
OF BUSINESS : ELECTRIC
WIRE AND CABLE
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on June
4, 1968 as
a private limited
company under the
registered name PHELPS
DODGE THAILAND LTD..
It is a
joint venture between
an existing Thai
firm and Phelps
Dodge Corporation, one of the
world leading in
copper mining and
refining companies in
the United States
of America and
also a world leader
in the manufacture
of copper and
aluminum cables and
having investments in
eighteen affiliated companies which engaged in the
manufacture of electrical
wires and cables throughout
the world.
Phelps Dodge Corporation
has more than
100 years’ experience in the
pioneering and development of new technology through its
wholly owned subsidiary, Phelps Dodge
International Corp., who provides
technical assistance to
Phelps Dodge Thailand
enabling it to
manufacture the well
known line of
quality products for
which Phelps Dodge
is famous.
On May 26, 2008, subject’s
name was changed
to PHELPS DODGE INTERNATIONAL [
Presently, the subject
is a subsidiary
of Phelps Dodge
International Corporation, U.S.A.,
which is a member
of General Cable
Corporation in U.S.A.
Awards/Certification:
In 1995 subject
is the first
Thai wire and
cable company to
obtain the international
ISO 9001 certificate
which was awarded
by the British
Approvals Service for
Cables [BASEC] for
both factories at
Bangplee and Samrong.
In 1997, the
subject obtained an
additional ISO 9001 certificate
from Thai Industrial
Standard Institute [TIS].
In 1999 the subject achieved ISO 14001 from British Approvals Service for
Cables [BASEC].
In 2000 Transferred
the ISO 9001 and
ISO 14001 registrations from
BASEC to Underwriters
Laboratories Inc., [UL].
In 2000 Transferred
the TIS/ISO 9001 registration
to Management System
Certification [Thailand] [MASCI].
In 2001 The
Bangplee Plant obtained
its OHSAS 18001 certificate
from Underwriters Laboratories
Inc., [UL].
In 2002 The
Bangplee and Rayong
plants obtained ISO 9001 version 2000
from UL and
MASCI.
The subject’s registered address
was initially located
at 220 Moo
8, Soi Wat Dansamrong, Sukhumvit
Rd., Samrong Nua,
Samutprakarn 10540.
On January 7,
2005, subject’s registered
address was relocated
to 159 Moo
10, Theparak Rd., Bangpla,
Bangplee, Samutprakarn 10540,
while the subject’s
operation address was on 16th Floor, Maneeya
Building, 518/5 Ploenchit
Rd., Lumpini, Pathumwan,
Bangkok 10330.
In 2011, its head office’s
address is located
at the same
registered address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mrs. Srivanik Hasadin |
|
Thai |
55 |
|
Mr. Suthas Ruangmanamongkol |
|
Thai |
50 |
|
Mr. Mathias F. Sandoval |
[x] |
|
51 |
|
Mrs. Somsri Pathumsutr |
|
Thai |
80 |
|
Mr. Peter Armstrong Campbell |
[x] |
American |
- |
|
Mr. Emil Chen On
Yu |
|
- |
49 |
|
Mr. Surachak Ruengsook |
|
Thai |
51 |
|
Mr. Ernest Kenneth Cuyegkeng |
|
Filipino |
66 |
|
Mr. Nirouth Jeakvathanyoo |
[-] |
Thai |
58 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can jointly sign
with the mentioned
director [-]
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Peter Armstrong Campbell is
the President and
Managing Director.
He is American
nationality.
Mr. Nirouth Jeakvathanyoo is
the VP Controller
and Sales [Domestic].
He is Thai
nationality.
Mr. Somsak Dendamrongvit is
the VP Procurement
& Special Project.
He is Thai
nationality.
Mr. Suranan Jotikabukkana is the
VP Human Resources
& Administration.
He is Thai
nationality.
Mr. Churdpong Maneesin
is the VP
Power & Telecom
Cable Operation.
He is Thai
nationality.
Mr. Prasit Tanganurakpongsa is
the VP Building
Wire Operation.
He is Thai
nationality.
Mr. Sompol Supparinyaporn is
the Export &
Sales Marketing Manager.
He is Thai
nationality.
Mr. Manop Vivatsethchai is
the Factory Manager.
He is Thai
nationality.
Mr. Krisana Marksap is the
Cable Engineering Manager.
He is Thai
nationality.
Ms. Phannee Dhanubumrongsart is
the Director Information
Technology Service.
She is Thai
nationality.
Mr. Sujin Anusanakul is
the Business Development
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activity
is a manufacturer of
electric cables and
wires with a
complete products line
of copper and
aluminum wire and
cable for transmission
distribution, construction and industrial application
of electrical energy
as well as
a wide range
of telecommunication applications.
Its products are
as follows:
- Power cable
aluminum
- Power cable
copper [Crosslinked Polyethylene
or XLPE]
- Lead sheathed
cable
- Building wire
& cable
- Telephone cable
- UTP LAN
cable
PURCHASE
Raw
materials for production:
PVC resin, copper
and aluminum are
purchased from approximately
30 suppliers both
domestic and overseas, by
60% is purchased
from local suppliers, and
the remaining 40%
is imported from
United States of America, Japan,
Australia, France, Germany, Singapore
and United Kingdom.
MAJOR SUPPLIERS
- Phelps Dodge Corp. : United
States of America
- Henrich GmbH. : Germany
- Mitsui Corp. : Japan
- Thai Plastic &
Chemicals Public Co., Ltd. : Thailand
SALES
The subject currently
maintains around 200
customers both domestic
and overseas, by
80% is sold
directly to the
states enterprises, contractors
and through dealers all over the
country, the remaining
20% is exported
to Asian countries
such as Myanmar, Bangladesh,
Singapore, Philippines, Hong Kong,
Pakistan, Laos, Vietnam,
Indonesia, Malaysia, Taiwan,
Republic of China,
Australia, U.S.A. and
Middle East Countries.
MAJOR CUSTOMERS
- CAT Telecom Public
Co., Ltd. :
Thailand
- TOT Corporation Public
Co., Ltd. :
Thailand
- The Electricity Generating
Authority of Thailand
[EGAT] : Thailand
- The Metropolitan Electricity
Authority [MEA] : Thailand
- The Provincial Electricity
Authority [PEA] : Thailand
- Sang Siam Electric
[1977] Co., Ltd. :
Thailand
- Phelps Dodge Trading
Co., Ltd. : Thailand
SUBSIDIARIES & AFFILIATED COMPANIES
Thai Copper Rod
Co., Ltd.
Business Type : Manufacturer of
copper rod
Address : 22/2 Moo
5, Theparak Rd.,
Bangpleeyai, Samutprakarn 10540
Phelps Dodge Trading
Co., Ltd.
Business Type : Trading company
Address : 518/5 Ploenchit
Rd., Lumpini, Pathumwan,
Bangkok 10330
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 days.
Local bills are
paid by cash or
on the
credits term of
30-60 days.
Imports are by
L/C at sight
or D/P, D/A
on the credit
term of 30
days & T/T.
Exports are against
L/C at sight
or T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Samrong Branch : 1788 Sukhumvit
Rd., Samrongnua, Muang,
Samutprakarn]
Siam
Commercial Bank Public
Co., Ltd.
[Head
Office : 9
Ratchadapisek Rd., Ladyao,
Jatujak, Bangkok 10900]
Kasikornbank
Public Co., Ltd.
EMPLOYMENT
The subject employs
approximately 680 office
staff and factory
workers.
LOCATION DETAILS
The premise is
rented for administrative office
& factory I at the heading
address. The premise
is located in
industrial area.
Factory II :
9/9 Moo 4,
T. Nikompatana, King
Amphur Nikompatana, Rayong
21180
on the
land area of
24,000 square meters.
Tel : [66] 38
877-155 Fax : [66] 38
887-153
Bangkok Office : 16th Floor, Maneeya
Building, 518/5 Ploenchit
Rd., Lumpini,
Pathumwan, Bangkok 10330.
Tel. : [66] 2680-5825,
2680-5800, Fax. : [66] 2680-5899.
COMMENT
The company is
a pioneer in
the local wire
and cable industry
introducing state-of-the-art processes,
products and technology
to Thailand. It is
capable of manufacturing
world class quality
wire and cable
at competitive price
with strict global
standards.
In 2011 economic improvement reached to the
rapid move of industrial sector,
and is pushing the expansion of
wire and cable demand. In domestic
market, a construction sector, drawing a
rise of various huge projects,
shows the growing
of industry as a whole.
This has resulted
to significantly increase of
subject’s sales revenue.
FINANCIAL INFORMATION
The capital was
originally registered at
Bht. 20,000,000 with
fully paid.
The capital was
increased later as
follows:
Bht.
24,000,000 in 1969
Bht. 33,600,000
in 1971
Bht. 44,000,000
in 1972
The latest registered
capital was increased
to Bht. 44,000,000
divided into 44,000
shares of Bht.
1,000 each with
fully paid.
MAIN SHAREHOLDERS : [as at
April 24, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Phelps Dodge International Corporation
Nationality: American Address : 806 Douglas
Rd., Florida, U.S.A. |
33,206 |
75.47 |
|
TISCO Bank Public
Co., Ltd. Nationality: Thai Address : 48/2 North
Sathorn Rd., Silom, Bangrak, Bangkok |
4,100 |
9.32 |
|
Ms. Poonlarp Ruangsuk Nationality: Thai Address : 8/1 Soi
Sriviang, Silom Rd.,
Bangrak, Bangkok |
1,067 |
2.42 |
|
Mr. Surachak Ruangsuk Nationality: Thai Address : 8/1 Soi
Sriviang, Silom Rd.,
Bangrak, Bangkok |
766 |
1.74 |
|
|
|
|
|
Mrs. Siriwan Ruangsuk Nationality: Thai Address : 8/1 Soi
Sriviang, Silom Rd.,
Bangrak, Bangkok |
600 |
1.36 |
|
Mr. Thammanit Angsusingh Nationality: Thai Address : 23 Sukhumvit
38 Rd., Klongtoey,
Prakanong, Bangkok |
420 |
0.95 |
|
Mrs. Yingluck Santivejjakul Nationality: Thai Address : 8/1 Soi
Sriviang, Silom Rd.,
Bangrak, Bangkok |
400 |
0.91 |
Others
|
3,441 |
7.83 |
Total Shareholders : 41
Share Structure [as
at April 24,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
40 |
10,794 |
24.53 |
|
Foreign - American |
1 |
33,206 |
75.47 |
|
Total |
41 |
44,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Nutchalee Bunyakarnkul No.
3126
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and Cash Equivalents |
521,179,117 |
645,604,466 |
|
Trade Accounts & Notes Receivable |
|
|
|
- Related
Company |
243,448,123 |
191,460,935 |
|
- Non Related Company |
2,789,919,316 |
2,199,614,670 |
|
Other Receivable |
|
|
|
- Related
Company |
210,360 |
301,375 |
|
- Non Related Company |
182,058,494 |
91,120,366 |
|
Forward Contract Receivable |
16,617,802 |
- |
|
Inventories |
1,508,041,605 |
1,744,261,918 |
|
Other Current Assets
|
63,595,768 |
26,842,908 |
|
|
|
|
|
Total Current Assets
|
5,325,070,585 |
4,899,206,639 |
|
Investment in Associated
Company |
20,000,000 |
20,000,000 |
|
Fixed Assets |
1,037,090,937 |
1,076,831,191 |
|
Deferred Income Tax |
81,457,384 |
59,425,824 |
|
Other Non-current Assets |
5,627,529 |
2,240,968 |
|
Total Assets |
6,469,246,435 |
6,057,704,621 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Trade Accounts & Other
Payable |
|
|
|
- Related
Company |
6,923,623 |
6,681,700 |
|
- Non Related Company |
3,218,496,185 |
2,405,030,005 |
|
Other Payable |
|
|
|
- Related
Company |
51,386,891 |
94,858,604 |
|
- Non Related Company |
131,528,567 |
76,707,082 |
|
Forward Raw Material
Contract Payable |
10,194,121 |
- |
|
Forward Foreign Exchange Contract Payable, Net |
- |
4,545,376 |
|
Accrued Income Tax |
- |
68,324,110 |
|
Other Current Liabilities |
12,442,830 |
19,490,711 |
|
|
|
|
|
Total Current Liabilities |
3,430,972,217 |
2,675,637,588 |
|
Reserve for Employees’ Benefit |
140,028,320 |
134,096,385 |
|
Total Liabilities |
3,571,000,537 |
2,809,733,973 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 44,000 shares |
44,000,000 |
44,000,000 |
|
|
|
|
|
Capital Paid |
44,000,000 |
44,000,000 |
|
Retained Earning Appropriated for
Statutory Reserve |
4,400,000 |
4,400,000 |
|
Unappropriated |
2,856,896,691 |
3,199,570,648 |
|
Reserve for Risk Protection |
[7,050,793] |
- |
|
Total Shareholders' Equity |
2,898,245,898 |
3,247,970,648 |
|
Total Liabilities & Shareholders' Equity |
6,469,246,435 |
6,057,704,621 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales |
7,406,993,702 |
7,180,243,791 |
|
Other Income |
12,376,246 |
10,414,309 |
|
Dividend Income |
2,000,000 |
3,000,000 |
|
Gain on Exchange
Rate |
- |
58,433,339 |
|
Total Revenues |
7,421,369,948 |
7,252,091,439 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
6,864,134,521 |
5,994,578,813 |
|
Selling Expenses |
279,706,786 |
334,625,135 |
|
Administrative Expenses |
313,386,843 |
293,140,969 |
|
Loss on Exchange Rate |
6,952,945 |
- |
|
Total Expenses |
7,464,181,095 |
6,622,344,917 |
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income Tax |
[42,811,147] |
629,746,522 |
|
Financial Cost |
[69,626,895] |
[54,227,489] |
|
Profit / [Loss] before Income Tax |
[112,438,042] |
575,519,033 |
|
Income Tax &
Income Tax Benefit |
33,764,085 |
[173,189,146] |
|
|
|
|
|
Net Profit / [Loss] |
[78,673,957] |
402,329,887 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.55 |
1.83 |
|
QUICK RATIO |
TIMES |
1.09 |
1.17 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
7.14 |
6.67 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.14 |
1.19 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
80.19 |
106.21 |
|
INVENTORY TURNOVER |
TIMES |
4.55 |
3.44 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
137.48 |
111.82 |
|
RECEIVABLES TURNOVER |
TIMES |
2.65 |
3.26 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
171.14 |
146.44 |
|
CASH CONVERSION CYCLE |
DAYS |
46.53 |
71.58 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
92.67 |
83.49 |
|
SELLING & ADMINISTRATION |
% |
8.01 |
8.74 |
|
INTEREST |
% |
0.94 |
0.76 |
|
GROSS PROFIT MARGIN |
% |
7.52 |
17.51 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(0.58) |
8.77 |
|
NET PROFIT MARGIN |
% |
(1.06) |
5.60 |
|
RETURN ON EQUITY |
% |
(2.71) |
12.39 |
|
RETURN ON ASSET |
% |
(1.22) |
6.64 |
|
EARNING PER SHARE |
BAHT |
(1,788.04) |
9,143.86 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.55 |
0.46 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.23 |
0.87 |
|
TIME INTEREST EARNED |
TIMES |
(0.61) |
11.61 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
3.16 |
|
|
OPERATING PROFIT |
% |
(106.80) |
|
|
NET PROFIT |
% |
(119.55) |
|
|
FIXED ASSETS |
% |
(3.69) |
|
|
TOTAL ASSETS |
% |
6.79 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
7.52 |
Acceptable |
Industrial
Average |
10.50 |
|
Net Profit Margin |
(1.06) |
Deteriorated |
Industrial
Average |
(32.30) |
|
Return on Assets |
(1.22) |
Deteriorated |
Industrial
Average |
(0.21) |
|
Return on Equity |
(2.71) |
Deteriorated |
Industrial
Average |
(1.15) |
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 7.52%. When
compared with the industry average, the ratio of the company was lower, 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 -1.06%, higher figure when 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. When compared with the
industry average, it was lower, the company's figure is -1.22%.
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 -2.71%.
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 |
1.55 |
Deteriorated |
Industrial
Average |
7.92 |
|
Quick Ratio |
1.09 |
|
|
|
|
Cash Conversion Cycle |
46.53 |
|
|
|
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 1.55 times in 2011, decreased from 1.83 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 1.09 times in 2011,
decreased from 1.17 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 47 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.55 |
Acceptable |
Industrial
Average |
0.42 |
|
Debt to Equity Ratio |
1.23 |
Satisfactory |
Industrial
Average |
1.68 |
|
Times Interest Earned |
(0.61) |
Risky |
Industrial
Average |
206.63 |
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 -0.62 lower than 1, so the company is not generating
enough cash from EBIT to meet its
interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.55 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 Uptrend
Times Interest Earned Uptrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
7.14 |
Satisfactory |
Industrial Average |
7.90 |
|
Total Assets Turnover |
1.14 |
Satisfactory |
Industrial Average |
1.32 |
|
Inventory Conversion Period |
80.19 |
|
|
|
|
Inventory Turnover |
4.55 |
Acceptable |
Industrial Average |
8.24 |
|
Receivables Conversion Period |
137.48 |
|
|
|
|
Receivables Turnover |
2.65 |
Deteriorated |
Industrial Average |
5.91 |
|
Payables Conversion Period |
171.14 |
|
|
|
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.55.41 |
|
|
1 |
Rs.86.93 |
|
Euro |
1 |
Rs.68.10 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.