MIRA
INFORM REPORT
|
Report Date : |
18.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHAROEN POKPHAND
GROUP CO., LTD. |
|
|
|
|
Registered Office : |
14th, 16th Floor
Cp Tower, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
1976 |
|
|
|
|
Com. Reg. No.: |
0105519010951 [Former:
1096/2519] |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Holding and Investment
Company |
|
|
|
|
No. of Employees : |
22,000 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 30, 2011
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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
CHAROEN POKPHAND
GROUP CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 14th, 16th FLOOR
CP TOWER,
313 SILOM
ROAD, BANGRAK,
BANGKOK 10500,
THAILAND
TELEPHONE : [66] 2625-8000
FAX
: [66] 2638-2741
E-MAIL
ADDRESS : cpg@cpthailand.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1976
REGISTRATION
NO. : 0105519010951 [Former: 1096/2519]
TAX
ID NO. : 3101036749
CAPITAL REGISTERED : BHT. 17,616,500,000
CAPITAL PAID-UP : BHT.
17,616,500,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER
31
LEGAL
STATUS : PRIVATE
LIMITED COMPANY
EXECUTIVE : MR.
DHANIN CHIARAVANONT, THAI
CHAIRMAN AND
CHIEF EXECUTIVE OFFICER
NO.
OF STAFF : 22,000
LINES
OF BUSINESS : HOLDING
AND INVESTMENT COMPANY
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The history of
C.P. dates back
to 1921 and the
founding of the
Chi Tai Change store
in the heart of
Bangkok's Chinatown.
The subject was
formed on September
23, 1976 as
a private limited company under
the registered name “Charoensuk Farm
Co., Ltd.” Its
name was changed
to “Charoen Pokphand Investment
Co., Ltd.” and CHAROEN
POKPHAND GROUP CO., LTD. on
October 24, 1978 and
on May 21,
1984 respectively.
The subject
was started its operation
in Thailand 90 years
ago as a
supplier of vegetable seeds,
animal feed, poultry
breeding and broiler.
At present, it becomes
a multinational conglomerate
whose core business
includes agro-industry &
food, retail and
telecommunications. It currently
employs approximately 22,000
staff, including the
group with more
than 280,000 employees
in 15 countries
worldwide generating over
US$ 33 billion
annually.
The subject’s registered
address is 14th, 16th Flr., CP
Tower, 313 Silom
Rd., Bangrak, Bangkok
10500, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Charan Chiaravanont |
: Honorable Chairman |
Thai |
82 |
|
Mr. Sumeth Chiaravanont |
: Honorable Chairman |
Thai |
78 |
|
Mr. Montri Chiaravanont |
: Honorable Chairman |
Thai |
80 |
|
Mr. Dhanin Chiaravanont |
: Chairman |
Thai |
73 |
|
Mr. Wallop Chiaravanont |
|
Thai |
72 |
|
Mr. Pongthep Chiaravanont |
|
Thai |
62 |
|
Mr. Prasert Poongkumarn |
|
Thai |
76 |
|
Mr. Min Tienworn |
|
Thai |
76 |
|
Mr. Thirayuth Pittaya-isarakul |
|
Thai |
70 |
|
Mr. Chingchai Lohawatanakul |
|
Thai |
73 |
|
Mr. Eam Ngamdamronk |
|
Thai |
67 |
AUTHORIZED PERSON
Two of the
above directors can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Dhanin Chiaravanont is
the Chief Executive
Officer.
He is Thai
nationality with the
age of 73
years old.
He was graduated
a Secondary School
from China Hongkong College.
Mr. Wallop Chiaravanont is
the Executive Director.
He is Thai
nationality with the
age of 72
years old.
Mr. Thirayuth Pittaya-isarakul is
the Executive Director.
He is Thai
nationality with the
age of 70
years old.
Mr. Min Tienworn
is the Executive
Director.
He is Thai
nationality with the
age of 76
years old.
Mr. Chingchai Lohawatanakul is
the Executive Director.
He is Thai
nationality with the age of
73 years old.
Mr. Pongthep Chiaravanont is
the Executive Director.
He is Thai
nationality with the
age of 62
years old.
Mr. Eam Ngamdamronk
is the Executive
Director.
He is Thai
nationality with the
age of 67
years old.
BUSINESS OPERATIONS
The subject’s activity is a
holding company concentrating
in investment and
management of C.P. Group with
approximately 300 companies.
It is also a consulting firm for
investment, manufacture, imports &
exports for subsidiary and affiliated companies
in the group, as
well as Thai
government and private
companies.
CP group’s businesses
can be divided
into 14 groups
as follows:
1. AGRO-INDUSTRY BUSINESS
GROUP
The Agro-Industry Business
Group consists of five
divisions: seed, animal
feed, livestock production,
further processing and
trading, operated through
their companies including:
- Charoen Pokphand
Food Public Company Limited
- CPF Feeds
- Bangkok Produce
Public Company Limited
- Chester Grill
Co., Ltd.
- International Pet
Food Co., Ltd.
2. AUTOMOTIVE
The automotive and
industrial products business
group, with experiences
since 1985 is
a large-scale Sino-foreign joint venture
which specializes in manufacturing
motorcycles under the
DAYANG trademark and
automotive parts, operates
through their companies
as follows:
- Luoyang Northern
Ek Chor Motorcycle Co.,
Ltd.
- Zhangjiang Deni
Carburetor Co., Ltd.
3. CROP INTEGRATION
BUSINESS
The crop integration business
group, operates 4 main businesses
from its success
garnered through years
of research and
development in the
area of “Field
Crops”, “Horticulture”, “Rice” and
“Agricultural Machinery”. Products such as hybrid
corn, rice, fertilizer,
tropical fruits, orchids, tea,
wine, disease-free planting
materials and food
processing machinery and
samples of Crop
integration business group’s
achievements. It currently
supports to international farmers situated in Republic of China,
Vietnam, Indonesia, Myanmar, Cambodia, India
and others. Its
businesses are operated
through their companies
as follows:
- Crop Integration Business
C.P. Group
- CP Flower
4. FEED INGREDIENTS
TRADING BUSINESS
Its business unit operates as
an informational hub on
global agricultural commodity
trading as well
as a sourcing
operator for animal
feeds worldwide.
5. FINANCE BUSINESS
Operated by Chia
Tai International Finance Co.,
Ltd. The company
was approved from
the People’s Bank
of China and
China Bank Supervision Committee, Chia
Tai International Finance
Co., Ltd. has
the right to
engage in the
foreign currency business
including foreign currency
transfer, loan, guarantee trust, buying and selling and
agency, financial bonds, investment, credit investigation and
financial.
6. INFORMATION TECHNOLOGY
BUSINESS
The business provides complete range of software development,
professional and total procurement solution
services.
The business consists
of two premier
e-solutions providers:
- Free Will
Solutions Co., Ltd.
- Pantavanij Co.,
Ltd.
7. INTERNATIONAL TRADING BUSINESS
GROUP
The business group was established in 1979 to conduct trade
ranging from basic
agricultural products and
industrial raw materials
to high value-added
foodstuffs, which was operated
by
- CP Intertrade Co.,
Ltd.
8. PET FOOD
BUSINESS
The pet food business group,
devoted to developing and providing
balanced and nutritional
food, including special
diet formulas, vitamins,
treats and chews,
plus care products,
for specific breeds
of dogs, cats,
birds, aquarium fish,
horses and zoo
animals that confirm
to the highest standards
of the National
Research Council and the
protocols of the
American Association of
Feed Control [AAFCO] and
HACCP, and adhered
to in its
dairy routines.
Company
- Perfect Companion Co.,
Ltd.
9. PLASTIC BUSINESS
The plastic business
focus on modern
and value-added plastic
products.
Companies:
- CPPC Public
Company Limited
- C.P. Poly-Industry Co.,
Ltd.
- C.P.
Packaging Industry Co.,
Ltd.
- CNC International Co.,
Ltd,.
- Ningbo Beston
Plastrics Co., Ltd.
- Beston Action
Utility Wear
[Liangyungang] Co., Ltd.
- C.P. Packaging [Vietnam] Industry Co.,
Ltd.
- CPPC Marketing Inc.
10. PHARMACEUTICAL BUSINESS
The business operates
by Sino Biopharmaceutical Ltd.,
to produce medicines
in two core
therapeutic categories: cardio
cerebral disease and
hepatitis.
11. PROPERTY DEVELOPMENT
BUSINESS
The business group
owns and manages
numerous property sites
within Thailand. The
projects are included
apartment, hotel, office
building, shopping center,
industrial estate &
etc.
Companies/Projects:
- C.P. Land
Co., Ltd.
- Grand Mercure
Fortune Bangkok
- Chia Tai
Mall
- Fortune Town [CP
Plaza]
- C.P. Place
- C.P. Home
Park
- C.P. City
Center
- C.P. Tower
- etc.
12. RETAIL BUSINESS
The business group operates
in convenience store,
shopping malls and
hyper supermarket, as
well as counter
service businesses.
Companies:
- CP All
Public Company Limited
- C.P. Retailing and
Marketing Co., Ltd.
- Counter Service
Co., Ltd.
- Retail Link [Thailand] Co.,
Ltd.
- Dynamic Logistics Co.,
Ltd.
- C.P. Consumer
Products Co., Ltd.
- Thai Smart
Card Co., Ltd.
- etc.
13. SEEDS, FERTILIZER
AND PLANT PROTECTION
BUSINESS GROUP
- The seeds
and agro-chemical business is
CP's oldest operation, operates
by Chia Tai Co., Ltd., to
produce and sell
a full range
of seeds [vegetable and
flower] and fertilizers. The
business group has developed
organic vegetables for local
markets and offers
consultation farming services
as well.
14. TELECOMMUNICATION BUSINESS
GROUP
The business operates
fully integrated communication
solution providers, and providing full range of voice, data and multimedia services,
led by True
Corporation Public Company
and their subsidiaries. True currently operates five core businesses
comprising mobile business under
“TRUE MOVE”, online
business under “TRUE ONLINE”,
and its value-added
services, such as
DDN service, internet
and Hi-speed internet,
and WE PCT,
pay-TV business under “TRUE VISION”, digital commercial business under
“TRUE MONEY”, and
digital content business
under “TRUE LIFE”
logo names.
Companies:
- True Corporation Public
Company Limited
- Asia Wireless
Communications Co., Ltd.
- True Internet
Co., Ltd.
- True Move
Co., Ltd.
- Wire and
Wireless Co., Ltd.
- True Internet
Data Center Co.,
Ltd.
- True Visions
Public Company Limited
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok 10500]
[Trokchan Branch : Chan
Rd., Yannawa, Bangkok
10120]
Kasikornbank Public Co.,
Ltd.
[Head Office
: 1 Kasikorn
Lane, Rajburana Rd.,
Rajburana, Bangkok 10140]
EMPLOYMENT
The Group employs
approximately 22,000 staff.
LOCATION DETAILS
The premise is owned for
administrative office and shares
with Charoen Pokphand
group of companies
at the heading
address. Premise is
located in a
prime commercial area.
Branches:
-
57 Moo 1,
Seesajarakaeyai,
Bangsaothong, Samutprakarn 10250.
-
299-301
Songsawad Rd., Samphatawong,
Bangkok 10100.
-
97
Yenchit Rd., Thungwatdon,
Sathorn, Bangkok 10120.
-
18
Ratchadapisek Rd., Huaykwang,
Bangkok 10320.
-
1
Ratchadapisek Rd., Huaykwang,
Bangkok 10320.
-
1, 1/1
Yenchit Rd., Thungwatdon,
Sathorn, Bangkok 10120.
-
120
Silom Rd., Suriyawongse,
Bangrak, Bangkok 10500.
COMMENT
The Charoen Pokphand Group
(CP), Agro-Industry business
consists of five
divisions (seed, animal
feed, livestock production, further
processing and trading),
its horizontally and
vertically integrated agribusiness
enables it to
create value by
supplying needs anywhere
across the world.
CP is one of
the largest animal feed
producers in the
world, CP’s feed manufacturing. CP’s local
and international feed mills,
produces food for
its livestock consisting of
poultry, swine and
aquaculture businesses.
CP’s agribusiness and food
industry business has
cleared internationally recognized
health and safety
regulations, which includes GMP,
HACCP and ISO
9000 and 1400, enabling it
with the ability to
provide consumer products
that are safe
and hygienic.
FINANCIAL INFORMATION
The capital was
registered at Bht.
500,000 divided into
500 shares of Bht.
1,000 each.
The capital was increased later
as followings:
Bht.
5,148,000,000 on June
29, 1992
Bht. 6,770,000,000 on
August 13, 1992
Bht. 6,797,500,000 on
April 4, 1994
Bht. 6,798,000,000 on
October 11, 1994
Bht. 8,800,000,000 on
February 23, 1995
Bht. 9,350,000,000 on
March 14, 1996
Bht. 14,008,500,000 on
November 7, 1997
Bht. 17,616,500,000 on
September 20, 2000
The latest registered capital was increased to Bht. 17,616,500,000
divided into 1,761,650,000
shares of Bht.
10 each with
fully paid.
MAIN SHAREHOLDERS
[as at April
29, 2011]
|
NAME |
HOLDING |
% |
|
Mr. Dhanin Chiaravanont Nationality: Thai Address : 88 Moo 17, Bangpleeyai, Bangplee, Samutprakarn |
228,277,810 |
12.96 |
|
Mr. Sumeth Chiaravanont Nationality: Thai Address : 18/59 Soi
Somkid, Lumpini,
Pathumwan, Bangkok |
228,277,810 |
12.96 |
|
Mr. Charan Chiaravanont Nationality: Thai Address : 10
Serithai Rd., Kannaya, Buengkum, Bangkok |
224,706,465 |
12.76 |
|
Mr. Montri Chiaravanont Nationality: Thai Address : 299-301 Songsawat
Rd.,
Samphanthawong, Bangkok |
222,480,380 |
12.63 |
|
Mr. Kiat Chiaravanont Nationality: Thai Address : 1 Phaholyothin Rd., Ladyao, Jatujak, Bangkok 10900 |
101,439,010 |
5.76 |
|
Mr. Pongthep Chiaravanont Nationality: Thai Address : 48 Soi Saeng-ngern, Sukhumvit
55 Rd.,
Klongtonnua, Watana, Bangkok
|
64,348,270 |
3.65 |
|
|
|
|
|
Mrs. Yupa Chiaravanont Nationality: Thai Address : 12/1 Sukhumvit
33 Rd., Klongton, Prakanong, Bangkok 10110 |
63,739,700 |
3.63 |
|
Mr. Pratheep Chiaravanont Nationality: Thai Address : 79/4 Sukhumvit
39 Rd., Klongton,
Prakanong, Bangkok 10110 |
63,707,670 |
3.62 |
|
Mrs. Pattanee Leksrisompong Nationality: Thai Address : 66/44 Sukhumvit
33 Rd.,
Klongtonnua, Watana, Bangkok
|
43,220,970 |
2.45 |
|
Mr. Wallop Chiaravanont Nationality: Thai Address : 1 Soi
Phaholyothin 41, Phaholyothin
Rd., Ladyao, Jatujak,
Bangkok |
38,114,420 |
2.16 |
|
Bangkok Telecom Holding
Co., Ltd. Nationality: Thai Address : C.P. Tower,
313 Silom Rd., Bangrak, Bangkok |
38,110,700 |
2.16 |
|
Others |
445,226,795 |
25.26 |
Total shareholders : 45
Share Structure [as
at April 29,
2011]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
45 |
1,761,650,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
45 |
1,761,650,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO
Mr. Charoen Phusamritlert No.
4068
Note:
The 2011 financial
statement was not
submitted to the
Commercial Registration Department
during investigation.
BALANCE SHEET [BATH]
The
latest financial figures
published as at
December 31, 2010 &
2009 were :
ASSETS
|
Current Assets |
2010 |
2009 |
|
|
|
|
|
Cash in hand
& at Bank
|
1,134,449,215 |
2,462,575,385 |
|
Short-term Investment |
150,000,000 |
150,006,501 |
|
Trade Accounts Receivable |
591,328,613 |
651,842,954 |
|
Short-term Loan &
Deferred Interest to Related Company |
12,552,524,219 |
13,249,483,454 |
|
Short-term Loan &
Deferred Interest to Other Company |
1,300,501,519 |
2,483,596,265 |
|
Inventories
|
142,043,188 |
174,587,451 |
|
Other Current Assets
|
199,610,142 |
55,214,505 |
|
|
|
|
|
Total Current Assets
|
16,070,456,896 |
19,227,306,515 |
|
Investment in Subsidiary |
77,558,666,537 |
36,144,836,916 |
|
Investment in Associated
Company |
53,362,541,303 |
29,016,794,830 |
|
Investment in Related
Company |
372,987,055 |
373,109,779 |
|
Investment in Other
Company |
13,683,700 |
13,683,700 |
|
Property, Plant &
Equipment |
573,250,397 |
459,112,238 |
|
Intangible Assets |
35,964,152 |
5,175,768 |
|
Other Assets |
107,143,706 |
75,746,992 |
|
Total Assets |
148,094,693,746 |
85,315,766,738 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2010 |
2009 |
|
|
|
|
|
Bank Overdrafts &
Short-term Loan from Financial Institution |
15,155,262,422 |
8,008,169,565 |
|
Trade Accounts Payable
- Other Company |
984,457,351 |
918,660,688 |
|
Short-term Loan from
Related Company |
4,559,300,000 |
- |
|
Current Portion of
Long-term Loan from
Financial Institution |
4,838,534,734 |
2,080,000,000 |
|
Accrued Income Tax |
- |
33,503,530 |
|
Other Current Liabilities |
187,138,290 |
206,534,732 |
|
|
|
|
|
Total Current Liabilities |
25,724,692,797 |
11,246,868,515 |
|
|
|
|
|
Long-term Loan from Financial Institution |
11,016,900,000 |
11,190,075,200 |
|
Reserve for Pension
& Compensation |
96,289,000 |
83,565,000 |
|
Total Liabilities |
36,837,881,797 |
22,520,508,715 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 10
value authorized, issued
and fully paid share
capital 1,761,650,000 shares
|
17,616,500,000 |
17,616,500,000 |
|
|
|
|
|
Capital Paid |
17,616,500,000 |
17,616,500,000 |
|
Unrealized Profit Surplus on
Land Appraisal |
28,686,576 |
28,686,576 |
|
Change in
Value of Investment |
77,473,151,521 |
32,986,123,219 |
|
Retained Earning Appropriated-Statutory Reserve |
588,678,536 |
491,156,586 |
|
Unappropriated |
15,549,795,316 |
11,672,791,642 |
|
Total Shareholders' Equity |
111,256,811,949 |
62,795,258,023 |
|
Total Liabilities & Shareholders' Equity |
148,094,693,746 |
85,315,766,738 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2010 |
2009 |
|
|
|
|
|
Sales |
5,763,606,074 |
5,090,526,530 |
|
Services Income |
1,866,911,875 |
2,890,184,994 |
|
Interest Income |
429,191,348 |
744,632,510 |
|
Dividend Income |
3,480,732,817 |
1,311,376,679 |
|
Gain on Sale
of Investment |
1,180,218,288 |
- |
|
Others |
109,825,616 |
150,743,938 |
|
|
|
|
|
Total Revenues |
12,830,486,018 |
10,187,464,651 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
5,192,081,941 |
4,585,031,342 |
|
Cost of Services |
389,901,918 |
593,113,082 |
|
Selling Expenses |
23,037,849 |
22,038,809 |
|
Administrative Expenses |
1,269,100,563 |
1,177,278,141 |
|
Loss on Sale
of Investment |
- |
72,653,369 |
|
Loss on Exchange
Rate |
7,450,102 |
136,225,730 |
|
Total Expenses |
6,881,572,373 |
6,586,340,473 |
|
|
|
|
|
Profit / [Loss] before Financial Cost &
Income Tax |
5,948,913,645 |
3,601,124,178 |
|
Financial Cost |
[1,340,005,615] |
[1,180,153,309] |
|
Income Tax |
[414,176,156] |
[470,531,879] |
|
|
|
|
|
Net Profit / [Loss] |
4,194,731,874 |
1,950,438,990 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2010 |
2009 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
0.62 |
1.71 |
|
QUICK RATIO |
TIMES |
0.61 |
1.69 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
13.31 |
17.38 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.05 |
0.09 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
9.29 |
12.31 |
|
INVENTORY TURNOVER |
TIMES |
39.30 |
29.66 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
28.29 |
29.81 |
|
RECEIVABLES TURNOVER |
TIMES |
12.90 |
12.24 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
64.37 |
64.76 |
|
CASH CONVERSION CYCLE |
DAYS |
(26.80) |
(22.64) |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
73.15 |
64.88 |
|
SELLING & ADMINISTRATION |
% |
16.93 |
15.03 |
|
INTEREST |
% |
17.56 |
14.79 |
|
GROSS PROFIT MARGIN |
% |
94.99 |
62.77 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
77.96 |
45.12 |
|
NET PROFIT MARGIN |
% |
54.97 |
24.44 |
|
RETURN ON EQUITY |
% |
3.77 |
3.11 |
|
RETURN ON ASSET |
% |
2.83 |
2.29 |
|
EARNING PER SHARE |
BAHT |
2.38 |
1.11 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.25 |
0.26 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.33 |
0.36 |
|
TIME INTEREST EARNED |
TIMES |
4.44 |
3.05 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
(4.39) |
|
|
OPERATING PROFIT |
% |
65.20 |
|
|
NET PROFIT |
% |
115.07 |
|
|
FIXED ASSETS |
% |
24.86 |
|
|
TOTAL ASSETS |
% |
73.58 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
94.99 |
Impressive |
Industrial
Average |
11.76 |
|
Net Profit Margin |
54.97 |
Impressive |
Industrial
Average |
1.93 |
|
Return on Assets |
2.83 |
Acceptable |
Industrial
Average |
4.69 |
|
Return on Equity |
3.77 |
Deteriorated |
Industrial
Average |
13.38 |
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 94.99%. 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. The company’s figure is 54.97%, 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 2.83%.
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 3.77%.
Trend of the average
competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY RATIO
|
Current Ratio |
0.62 |
Risky |
Industrial
Average |
1.47 |
|
Quick Ratio |
0.61 |
|
|
|
|
Cash Conversion Cycle |
(26.80) |
|
|
|
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 0.62 times in 2010, decreased from 1.71 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 0.61 times in 2010,
decreased from 1.69 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 -27 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.25 |
Impressive |
Industrial
Average |
0.61 |
|
Debt to Equity Ratio |
0.33 |
Impressive |
Industrial Average |
1.70 |
|
Times Interest Earned |
4.44 |
Impressive |
Industrial
Average |
3.51 |
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 a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 4.44 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 0.25 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 Downtrend
Times Interest Earned Uptrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
13.31 |
Impressive |
Industrial Average |
10.60 |
|
Total Assets Turnover |
0.05 |
Deteriorated |
Industrial Average |
2.43 |
|
Inventory Conversion Period |
9.29 |
|
|
|
|
Inventory Turnover |
39.30 |
Impressive |
Industrial Average |
7.33 |
|
Receivables Conversion Period |
28.29 |
|
|
|
|
Receivables Turnover |
12.90 |
Impressive |
Industrial Average |
4.40 |
|
Payables Conversion Period |
64.37 |
|
|
|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.38 |
|
|
1 |
Rs.86.57 |
|
Euro |
1 |
Rs.69.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.