MIRA INFORM REPORT
|
Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SIAM
STEEL SERVICE CENTER
PUBLIC COMPANY LIMITED |
|
|
|
|
Registered Office : |
51/3 Moo 2, Poochaosamingprai Road, Bangyapraek, Phrapradaeng, Samutprakarn 10130 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
30.09.1985 |
|
|
|
|
Com. Reg. No.: |
0107537002052 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
Manufacturer and Distributor of Steel Parts and Related Products |
|
|
|
|
No. of Employees
: |
821 |
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 : |
Good |
|
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) |
|
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
SIAM STEEL
SERVICE CENTER PUBLIC
COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 51/3
MOO 2, POOCHAOSAMINGPRAI ROAD,
BANGYAPRAEK, PHRAPRADAENG,
SAMUTPRAKARN 10130,
THAILAND
TELEPHONE : [66] 2385-9251-2
FAX :
[66] 2385-9241,
2385-9253, 2385-9274
E-MAIL
ADDRESS : webmaster@ssscth.com
marketing@ssscth.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1985
REGISTRATION
NO. : 0107537002052 [Former: BOR
MOR JOR. 452]
CAPITAL REGISTERED : BHT. 639,999,880
CAPITAL PAID-UP : BHT.
639,997,880
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PUBLIC LIMITED
COMPANY
EXECUTIVE : MR. SURASAK KUNANANTAKUL,
THAI
PRESIDENT
NO.
OF STAFF : 821
LINES
OF BUSINESS : STEEL
PARTS AND RELATED
PRODUCTS
MANUFACTURER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The subject was established on September 30,
1985, originally as a private limited
company under the
registered name “Siam Steel
Service Center Company
Limited” by a
joint venture among
Siam Steel International Public
Company Limited, Thailand, Okaya
& Co., Ltd.,
and Toyota Tsusho Corporation, Japan, in
order to manufacture wide
range of steel
parts and related
products for domestic
market.
On
June 8, 1994,
the subject’s status
was converted to
a public limited
company under the
name SIAM STEEL SERVICE CENTER
PUBLIC COMPANY LIMITED, and was
listed on the Stock Exchange of
Thailand on January 15, 1996,
under the symbolic “SSSC”. It
currently employs 821
staff.
It
achieved the ISO
9001 : 2000 and ISO
14001 certificate by
RWTUV [Thailand] Limited
on November 25,
2002 and July
9, 2004, respectively,
as well as
OHSAS 18001 : 1999 by YUV
NORD [Thailand] Limited, on
June 11, 2007.
The
subject’s registered address
is 51/3 Moo 2,
Poochaosamingprai Rd., Bangyapraek,
Phrapradaeng, Samutprakarn 10130,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Wanchai Kunanantakul :
Chairman |
[x] |
Thai |
74 |
|
Mr. Surasak Kunanantakul |
[x] |
Thai |
48 |
|
Mr. Damri Sukhotanang |
|
Thai |
63 |
|
Mr. Wicharn Kwanchandr |
|
Thai |
80 |
|
Mr. Hiroyuki Inoguchi |
[-] |
Japanese |
44 |
|
Mr. Shigeji Anraku |
[-] |
Japanese |
45 |
|
Mr. Pongsak Angsupun |
|
Thai |
74 |
|
Mrs. Orachorn Kunanantakul |
|
Thai |
67 |
|
Mr. Surapol Kunanantakul |
[x] |
Thai |
45 |
|
Mr. Sittichai Kunanantakul |
|
Thai |
42 |
|
Mrs. Naphaporn Hoonthanasevee |
|
Thai |
45 |
|
Mr. Toshiaki Saito |
[-] |
Japanese |
57 |
|
Mr. Vichit Vuthisombut |
|
Thai |
71 |
|
Mr. Sucharit Koontanakulvong |
|
Thai |
57 |
|
Mr. Hiroshi Enomoto |
|
Japanese |
47 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can jointly sign
with one of
the directors [-]
on behalf of the subject
with company’s affixed.
MANAGEMENT
Mr. Surasak Kunanantakul is
the President.
He is Thai
nationality with the
age of 48
years old.
Mr. Toshiaki Saito is
the Vice President.
He is Japanese
nationality with the age of
57 years old.
Mr. Surapol Kunanantakul is
the Vice President.
He is Thai
nationality with the
age of 45
years old.
Mr. Thiraphol Phantpongsiri is
the Assistant President.
He is Thai
nationality with the
age of 61 years old.
Mr. Boonchai Chiercharoenthanakij is
the General Manager [Account, Administration &
Finance]. He is
Thai nationality.
Mr. Nobuo Kochiba is
the General Manager [Marketing].
He is Japanese
nationality with the
age of 63
years old.
Mr. Naowarat Chanamool is
the General Manager [Production].
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, servicing
and distributing wide
range of steel
parts for general purpose [steels of various types
with thickness, sizes and shapes according
sheets, bended sheet
and etc.], and
building & construction
purpose [various types
and shapes of
steel as well
as installation work;
roofing, siding, flooring,
flashing, space frame, steel panel, structural steel and
etc.]. Its products have
been provided to
construction industry, as
well as range
of processing service
providing such as slitting,
shearing, forming, blanking,
piercing, bending, pressing,
welding and etc.
Its products are
divided into 3
categories as follows:
1. Industrial steel parts:
cutting sheet, slitting
coil and etc.
2. Steel parts for
construction: aluminized coating,
galvanized colored, aluzinc
colored,
aluzinc and
galvanized
3. Steel forming parts
and other products for
electrical and electronics,
furniture,
automobiles, steel
sheet shuttle and
etc., as well
as steel pipe
modified.
PRODUCTION
600,000 tons per
annum
The subject’s current
production is around
7% of market
shares.
PURCHASE
Raw materials: aluminium
coated sheet, terne sheets,
silicon sheets, hot & cold rolled
steel sheet, hot dip
galvanized steel, colored
sheet, stainless steel
and accessories are purchased
from suppliers and agents
both domestic and overseas, mainly
in Japan, Republic
of China, Taiwan,
Germany and United
States of America.
MAJOR SUPPLIERS
Okaya & Co.,
Ltd. : Japan [40-50%]
C. Siam Suriya Co.,
Ltd. : Thailand [40-50%]
SALES
100% of
the products is
sold and serviced
locally by wholesale
to manufacturers and
end-users as follows:
- Automotive Industry [37%]
- Construction Industry [21%]
- General Industry [20%]
- Electrical and
Electronic Industry [19%]
- Furniture Industry [3%]
MAJOR CUSTOMERS
Siam Steel International
Public Co., Ltd.
Siam Nippon Steel
Pipes Co., Ltd.
Siam Matsushita Steel
Co., Ltd.
REVENUE STRUCTURE
|
|
2009
|
2010 |
||
|
Products /
services |
Million Bht. |
% |
Million Bht. |
% |
|
|
|
|
|
|
|
Industrial Steel Parts |
|
|
|
|
|
- Cutting steel
for sales |
2,472.64 |
67.37 |
3,278.28 |
72.20 |
|
- Steel cutting service |
139.87 |
3.81 |
218.60 |
4.82 |
|
Steel Parts for
construction |
944.65 |
25.74 |
940.39 |
20.71 |
|
Steel Forming Parts |
99.70 |
2.72 |
93.83 |
2.07 |
|
Rental Service |
13.08 |
0.36 |
9.19 |
0.21 |
|
|
|
|
|
|
|
Total revenue |
3,669.94 |
100.00 |
4,540.94 |
100.00 |
SUBSIDIARY AND AFFILIATED
COMPANY
The subject is
not found to have
any subsidiary or
affiliated company here
in Thailand.
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 T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Poochaosamingprai Branch :
Poochaosamingprai Rd., Phrapradaeng,
Samutprakarn]
The Siam Commercial
Bank Public Co.,
Ltd.
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs 821
office staff and
factory workers.
LOCATION
DETAILS
The
premise is owned
for administrative office
and factory I
at the heading
address. Premise is
located in industrial
area.
Factory
II [Metal Construction
Products] is located
at 51/11 Poochaosamingprai Rd.,
Bangyapraek, Phrapradaeng, Samutprakarn
10130.
Tel.
: [66] 2385-9268-73,
2755-8684-6, 2758781-4, 2755-8816-8
Fax
: [66] 2385-9274,
2385-9243
Factory
III is located
at 60/6 Moo
3, Mapyangporn, Pluakdaeng,
Rayong 21140.
Tel.
: [66] 38 891-176-8, 38 891-750-4
Fax
: [66] 38 891-1179
REMARK
MAXIMUM
CREDIT OF EUR
10,000,000 SHOULD BE
IN ORDER.
COMMENT
An
increase in steel
and metal manufacturing since 2010
was mainly due to a recovery of
domestic steel consumption
coupled with production
expansion in the
continued industry, especially
automobile and electrical appliances
which resulted in
export of such
goods to increase, accordingly, total steel consumption
continue to increase. Despite automobile industry has been hit
by floods in
the last quarter
of 2011 to the first
quarter of 2012, but it was
only for
some manufactures, which situated
in Ayudhaya and
Patumthani province.
In
2012 steel industry is
expected to expand
constantly due to well
expansion in a
construction industry, it
is also expected
that the automobile
industry to increase from
the previous year
due to there is a constant
announcement for continue
investment in Thailand
from automobile companies
after flood relief.
FINANCIAL INFORMATION
The capital
was registered at
Bht. 100,000,000 divided into
10,000,000 shares of
Bht. 10 each.
The
capital was increased
later as following:
Bht. 224,000,000 on
May 18, 1994
Bht. 320,000,000 on
June 8, 1994
The
latest registered capital was
increased to Bht. 639,999,880
divided into 63,999,988 shares
of Bht. 10
each.
THE SHAREHOLDERS LISTED
WERE : [as at
May 13, 2011]
at Bht. 639,997,880 of
capitalization.
|
NAME |
HOLDING
|
% |
|
|
|
|
|
Okaya & Co.,
Ltd. |
17,920,000 |
28.00 |
|
Siam Steel International Public
Company Limited |
13,445,600 |
21.01 |
|
Metal One Corporation |
4,480,000 |
7.00 |
|
Mr. Vithit Pongpirodom |
2,500,000 |
3.91 |
|
Toyota Tsusho Corporation |
2,240,000 |
3.50 |
|
Thai NVDR Co.,
Ltd. |
1,930,967 |
3.02 |
|
Mr. Suraphol Kunanantakul |
1,223,040 |
1.91 |
|
Mr. Vijit Ratanasrivilai |
1,027,166 |
1.60 |
|
Mr. Wanchai Kunanantakul |
864,640 |
1.35 |
|
Mr. Anucha Tantraporn |
836,400 |
1.31 |
|
Mr. Harwinder Palsingh Narink |
729,500 |
1.14 |
|
Mr. Sitthichai Kunanantakul |
613,760 |
0.96 |
|
Mrs. Orachorn Kunanantakul |
604,800 |
0.95 |
|
Mr. Charnchai Viboonkijvorakul |
600,266 |
0.94 |
|
Maj. Thikamporn Chamadej |
555,500 |
0.87 |
|
Others |
14,428,149 |
22.53 |
Total Shareholders :
1,077
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Suvimol Kritayakian No.
2982
BALANCE SHEET
[BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were :
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and cash
equivalents |
103,312,409 |
151,096,638 |
|
Trade accounts receivable - General customers |
863,158,365 |
1,026,183,093 |
|
- Related companies |
118,729,405 |
101,845,757 |
|
Amounts due from
related company |
12,361,468 |
6,160,808 |
|
Unbilled accrued income |
129,469,449 |
107,923,528 |
|
Inventories |
1,774,532,560 |
1,223,780,832 |
|
Advance for purchases
of inventories for customers |
9,896,295 |
10,204,213 |
|
Other current assets
|
44,952,139 |
25,384,831 |
|
Total Current Assets
|
3,056,412,090 |
2,652,579,700 |
|
Non-current assets |
|
|
|
Long-term investments - Investments in subsidiary & related companies |
24,970,641 |
24,970,641 |
|
- Long-term investments |
265,842 |
265,842 |
|
Investment property |
24,227,328 |
17,493,148 |
|
Property, plant and
equipment |
1,193,008,818 |
1,139,810,836 |
|
Refundable income tax
withheld as sources |
33,858,431 |
34,979,972 |
|
Other non-current assets |
6,206,880 |
5,962,167 |
|
Total non-current
assets |
1,282,537,940 |
1,223,482,606 |
|
Total Assets |
4,338,950,030 |
3,876,062,306 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Bank overdraft and
short-term loans from Financial institutions |
1,944,190,024 |
1,638,114,400 |
|
Trade account payable - General suppliers |
115,834,946 |
150,953,655 |
|
- Related companies |
202,351,424 |
161,213,654 |
|
Advances from customers |
56,702,920 |
50,100,563 |
|
Accrued interest payable |
8,958,797 |
9,341,417 |
|
Accrued bonuses |
57,184,808 |
51,213,812 |
|
Accrued corporate income tax |
28,415,984 |
41,838,218 |
|
Other current liabilities |
19,695,167 |
28,886,581 |
|
Total Current Liabilities |
2,433,334,070 |
2,131,662,300 |
|
Employee benefit obligation |
34,136,376 |
- |
|
Total Liabilities |
2,467,470,446 |
2,131,662,300 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
Share capital,
common shares at Baht
10 par value - Registered 63,999,988
shares |
639,999,880 |
639,999,880 |
|
- Issued and
paid-up 63,999,788 shares |
639,997,880 |
639,997,880 |
|
Retained earnings |
|
|
|
- Appropriated for statutory
reserve |
63,999,988 |
63,999,988 |
|
- Unappropriated |
1,167,481,716 |
1,040,402,138 |
|
Total Shareholders' Equity |
1,871,479,584 |
1,744,400,006 |
|
Total Liabilities & Shareholders' Equity |
4,338,950,030 |
3,876,062,306 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Revenues from Sales and Services |
|
|
|
Sales and
installation income |
4,992,754,767 |
4,289,087,921 |
|
Services income |
250,058,974 |
218,601,949 |
|
Transportation income |
44,787,496 |
39,707,605 |
|
Rental
income |
8,934,335 |
9,186,502 |
|
Total Revenues
from Sales and Services |
5,296,535,572 |
4,556,583,977 |
|
Costs of Sales
and Services |
|
|
|
Cost of
sales and services |
[4,498,865,447] |
[3,848,489,274] |
|
Gross profit |
797,670,125 |
708,094,703 |
|
Other income |
|
|
|
Gain on exchange
rate |
16,447,372 |
12,856,615 |
|
Reversal of
provision for impairment
loss of buildings |
- |
25,557,985 |
|
Others |
26,127,188 |
18,433,616 |
|
Total Other
income |
42,574,560 |
56,848,216 |
|
Income Before Expenses |
840,244,685 |
764,942,919 |
|
|
|
|
|
Selling expenses |
[200,565,452] |
[180,660,705] |
|
administrative expenses |
[95,579,259] |
[102,998,414] |
|
Loss on valued declining of inventories |
[7,000,044] |
3,562,386 |
|
Director’s remuneration |
[1,475,000] |
[1,550,000] |
|
Finance Costs |
[66,075,379] |
[43,195,239] |
|
Total Expenses |
[370,695,134] |
[324,841,972] |
|
Profit Before Income Tax |
469,549,551 |
440,100,947 |
|
Income Tax Expense |
[145,156,496] |
[107,391,859] |
|
Net Profit / [Loss] |
324,393,055 |
332,709,088 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.26 |
1.24 |
|
QUICK RATIO |
TIMES |
0.50 |
0.65 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.40 |
3.96 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.21 |
1.17 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
(143.97) |
(116.07) |
|
INVENTORY TURNOVER |
TIMES |
(2.54) |
(3.14) |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
59.99 |
82.92 |
|
RECEIVABLES TURNOVER |
TIMES |
6.08 |
4.40 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
(9.40) |
(14.32) |
|
CASH CONVERSION CYCLE |
DAYS |
(74.58) |
(18.83) |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
(85.66) |
(85.20) |
|
SELLING & ADMINISTRATION |
% |
(5.64) |
(6.28) |
|
INTEREST |
% |
1.26 |
0.96 |
|
GROSS PROFIT MARGIN |
% |
186.52 |
186.08 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
107.91 |
108.07 |
|
NET PROFIT MARGIN |
% |
6.18 |
7.37 |
|
RETURN ON EQUITY |
% |
17.33 |
19.07 |
|
RETURN ON ASSET |
% |
7.48 |
8.58 |
|
EARNING PER SHARE |
BAHT |
5.07 |
5.20 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.57 |
0.55 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.32 |
1.22 |
|
TIME INTEREST EARNED |
TIMES |
85.77 |
113.01 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
16.27 |
|
|
OPERATING PROFIT |
% |
16.10 |
|
|
NET PROFIT |
% |
(2.50) |
|
|
FIXED ASSETS |
% |
4.67 |
|
|
TOTAL ASSETS |
% |
11.94 |
|
PROFITABILITY RATIO
|
Gross Profit Margin |
186.52 |
Impressive |
Industrial
Average |
13.64 |
|
Net Profit Margin |
6.18 |
Impressive |
Industrial
Average |
(3.12) |
|
Return on Assets |
7.48 |
Impressive |
Industrial
Average |
(0.12) |
|
Return on Equity |
17.33 |
Impressive |
Industrial
Average |
0.69 |
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. Gross Profit Margin is 186.52%. When compared with the industry
average, the ratio of the company was higher.
This 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. Net Profit Margin ratio is 6.18%,
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. Return on Assets ratio is
7.48%, 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 ratio
is 17.33%, 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 |
1.26 |
Deteriorated |
Industrial
Average |
19.28 |
|
Quick Ratio |
0.50 |
|
|
|
|
Cash Conversion Cycle |
(74.58) |
|
|
|
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 1.26 times in 2011, increase from 1.24 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 0.5 times in 2011,
decrease from 0.65 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 -75 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.57 |
Impressive |
Industrial
Average |
0.88 |
|
Debt to Equity Ratio |
1.32 |
Satisfactory |
Industrial
Average |
1.88 |
|
Times Interest Earned |
85.77 |
Satisfactory |
Industrial
Average |
110.61 |
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 85.77 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 0.57 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 |
4.40 |
Deteriorated |
Industrial
Average |
59.26 |
|
Total Assets Turnover |
1.21 |
Acceptable |
Industrial
Average |
1.64 |
|
Inventory Conversion Period |
(143.97) |
|
|
|
|
Inventory Turnover |
(2.54) |
Deteriorated |
Industrial
Average |
15.80 |
|
Receivables Conversion Period |
59.99 |
|
|
|
|
Receivables Turnover |
6.08 |
Deteriorated |
Industrial
Average |
16.46 |
|
Payables Conversion Period |
(9.40) |
|
|
|
Trend of the average
competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.03 |
|
UK Pound |
1 |
Rs.79.32 |
|
Euro |
1 |
Rs.66.02 |
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.