MIRA INFORM REPORT

 

 

Report Date :

01.11.2012

 

IDENTIFICATION DETAILS

 

Name :

KUKDONG OIL & CHEMICALS CO., LTD.

 

 

Registered Office :

334-36, Yusan-Dong, Yangsan, 626230

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

28.12.1979

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

manufacturing of lubricants, waterproofing sheets, liquefied petroleum gas (LPG) and asphalt products

 

 

No. of Employees :

120 employees

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

South Korea - ECONOMIC OVERVIEW

 

South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies, and currently is among the world's 20 largest economies. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea''s development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. With the global economic downturn in late 2008, South Korean GDP growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South Korea Free Trade Agreement was ratified by both governments and is projected to go into effect in early 2012. The South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP.

 

Source : CIA

 

 

 

 

Company name & address 

 

Kukdong Oil & Chemicals Co., Ltd.

334-36, Yusan-Dong

Yangsan, 626230

Korea, Republic of

Tel:       82-55-3709900

Fax:      82-55-3839918

Web:    www.kdoc.co.kr

           

 

Synthesis

 

Employees:                  120

Company Type:             Public Independent

Traded:                         Korea Stock Exchange:  014530

Incorporation Date:         28-Dec-1979

Auditor:                        KPMG LLP       

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       South Korean Won

Annual Sales:                284.9  1

Net Income:                   8.3

Total Assets:                 170.1  2

Market Value:                64.7 (12-Oct-2012)

 

 

Business Description     

 

Kukdong Oil & Chemicals Co.,Ltd is a Korea-based company mainly engaged in the manufacturing of lubricants, waterproofing sheets, liquefied petroleum gas (LPG) and asphalt products. The lubricants include industrial lubricants, metal working fluids, process oils, liquid paraffin, greases and paraffin waxes used for industrial machines, cosmetics, pharmaceuticals, rubber mixture and others. The waterproofing sheets are mainly used in construction sector. The LPG is used for heating systems and automobiles. The asphalt products are used in construction and automobiles. The Company distributes its products within domestic market and to overseas markets. For the six months ended 30 June 2012, Kukdong Oil & Chemicals Co., Ltd. revenues increased 24% to W174.77B. Net income increased from W3.21B to W7.56B. Revenues reflect LPG segment increase from W23.57B to W55.92B, Sheet and Asphalt segment increase of 39% to W16.12B. Net income benefited from Finance Income increase from W480.5M to W1.63B (income), Finance Expense decrease of 9% to W2.97B (expense).

 

Industry             

Industry            Oil and Gas Operations

ANZSIC 2006:    1701 - Petroleum Refining and Petroleum Fuel Manufacturing

NACE 2002:      2320 - Manufacture of refined petroleum products

NAICS 2002:     324191 - Petroleum Lubricating Oil and Grease Manufacturing

UK SIC 2003:    23209 - Other treatment of petroleum products (excluding petrochemicals manufacture)

UK SIC 2007:    19209 - Other treatment of petroleum products (excluding mineral oil refining/petrochemicals manufacture)

US SIC 1987:    2992 - Lubricating Oils and Greases

 

           

Key Executives   

 

Name

Title

Hong Seon Jang

Co-Chief Executive Officer, Director

Seong Wuk Choi

Internal Auditor

Moon Yeol Jung

Chief Executive Officer

S. H. Beak

Manager-Sales

J. Y. Jun

Manager-Technology

 

 

Significant Developments

 

Topic

#*

Most Recent Headline

Date

Dividends

        1

Kukdong Oil & Chemicals Co., Ltd. Declares Annual Cash Dividend for FY 2011

28-Feb-2012

 

 

* number of significant developments within the last 12 months   

 

 

Financial Summary

 

As of 30-Jun-2012

Key Ratios

Company

Industry

Current Ratio (MRQ)

1.67

1.24

Quick Ratio (MRQ)

1.29

0.83

Debt to Equity (MRQ)

0.06

0.17

Sales 5 Year Growth

21.78

1.78

Net Profit Margin (TTM) %

3.86

7.41

Return on Assets (TTM) %

7.47

9.65

Return on Equity (TTM) %

14.73

19.34

 

       

 

Stock Snapshot

             

 

Traded: Korea Stock Exchange: 014530

 

As of 12-Oct-2012

   Financials in: KRW

Recent Price

20,650.00

 

EPS

2,647.53

52 Week High

21,400.00

 

Price/Sales

0.23

52 Week Low

15,600.00

 

Dividend Rate

700.00

Avg. Volume (mil)

0.0071

 

Price/Earnings

4.47

Market Value (mil)

72,005.35

 

Price/Book

0.78

 

 

 

Beta

1.21

 

Price % Change

Rel S&P 500%

4 Week

-1.20%

2.60%

13 Week

18.68%

11.29%

52 Week

31.53%

24.04%

Year to Date

22.19%

15.39%

 

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1107.891 
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1152

 

 

Corporate Overview

 

 

 

Location
334-36, Yusan-Dong
Yangsan, 626230
Korea, Republic of

 

Tel:

82-55-3709900

Fax:

82-55-3839918

 

www.kdoc.co.kr

Quote Symbol - Exchange

014530 - Korea Stock Exchange

Sales KRW(mil):

315,587.7

Assets KRW(mil):

195,932.8

Employees:

120

Fiscal Year End:

31-Dec-2011

 

 

 

Industry:

Oil and Gas Operations

Incorporation Date:

28-Dec-1979

Company Type:

Public Independent

Quoted Status:

Quoted

 

Co-Chief Executive Officer, Director:

Hong Seon Jang

 

 

 

 

 

 

 

 

 

 

 

Industry Codes

 

ANZSIC 2006 Codes:

1701

-

Petroleum Refining and Petroleum Fuel Manufacturing

1911

-

Polymer Film and Sheet Packaging Material Manufacturing

1709

-

Other Petroleum and Coal Product Manufacturing

 

NACE 2002 Codes:

2320

-

Manufacture of refined petroleum products

2682

-

Manufacture of other non-metallic mineral products not elsewhere classified

2521

-

Manufacture of plastic plates, sheets, tubes and profiles

 

NAICS 2002 Codes:

324191

-

Petroleum Lubricating Oil and Grease Manufacturing

324121

-

Asphalt Paving Mixture and Block Manufacturing

326113

-

Unlaminated Plastics Film and Sheet (except Packaging) Manufacturing

324110

-

Petroleum Refineries

 

US SIC 1987:

2992

-

Lubricating Oils and Greases

2951

-

Asphalt Paving Mixtures and Blocks

2911

-

Petroleum Refining

3081

-

Unsupported Plastics Film and Sheet

 

UK SIC 2003:

23209

-

Other treatment of petroleum products (excluding petrochemicals manufacture)

2521

-

Manufacture of plastic plates, sheets, tubes and profiles

2682

-

Manufacture of other non-metallic mineral products not elsewhere classified

2320

-

Manufacture of refined petroleum products

 

UK SIC 2007:

19209

-

Other treatment of petroleum products (excluding mineral oil refining/petrochemicals manufacture)

2221

-

Manufacture of plastic plates, sheets, tubes and profiles

2399

-

Manufacture of other non-metallic mineral products n.e.c.

1920

-

Manufacture of refined petroleum products

 

 

Business Description

Kukdong Oil & Chemicals Co.,Ltd is a Korea-based company mainly engaged in the manufacturing of lubricants, waterproofing sheets, liquefied petroleum gas (LPG) and asphalt products. The lubricants include industrial lubricants, metal working fluids, process oils, liquid paraffin, greases and paraffin waxes used for industrial machines, cosmetics, pharmaceuticals, rubber mixture and others. The waterproofing sheets are mainly used in construction sector. The LPG is used for heating systems and automobiles. The asphalt products are used in construction and automobiles. The Company distributes its products within domestic market and to overseas markets. For the six months ended 30 June 2012, Kukdong Oil & Chemicals Co., Ltd. revenues increased 24% to W174.77B. Net income increased from W3.21B to W7.56B. Revenues reflect LPG segment increase from W23.57B to W55.92B, Sheet and Asphalt segment increase of 39% to W16.12B. Net income benefited from Finance Income increase from W480.5M to W1.63B (income), Finance Expense decrease of 9% to W2.97B (expense).

 

More Business Descriptions

Manufacture and sale of liquid paraffin, lubricants and LPG

 

Petrochemical Manufacturing

 

 

 

 

 

 

 

Financial Data

Financials in:

KRW(mil)

 

Revenue:

315,587.7

Net Income:

9,175.4

Assets:

195,932.8

Long Term Debt:

6,000.0

 

Total Liabilities:

103,312.4

 

Working Capital:

7.0

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

27.5%

2.0%

21.8%

 

Market Data

Quote Symbol:

014530

Exchange:

Korea Stock Exchange

Currency:

KRW

Stock Price:

20,650.0

Stock Price Date:

10-12-2012

52 Week Price Change %:

31.5

Market Value (mil):

72,005,352.0

 

SEDOL:

6494986

ISIN:

KR7014530000

 

Equity and Dept Distribution:

All the financials reflect non-consolidated data. FY'05, fncl. is CLA. 05/06, non-renounceable scrip issue in same stock (Factor:1.37248). 07/01, rights issue in same stock (Factor:1.11971). 09/01, non-renounceable rights issue (Factor:1.1154). FY'07, 2Q is CLA. FY'05, 1Q & 4Q CLA. FY'06, 1Q & 2Q are CLA. FY'08 is RES. 06/09 is RES.

 

 

Key Corporate Relationships

Auditor:

KPMG LLP

 

Auditor:

KPMG LLP

 

 

 

 

 

 

 

 

 

Executive report  

 

Board of Directors

 

Name

Title

Function

 

Su Yeong Han

 

Managing Director

Director/Board Member

 

Biography:

Han Su Yeong has been Managing Director of KUKDONG OIL & CHEMICALS CO.,LTD since 2009. Prior to the current position, Han was Assistant Managing Director of the Company and Assistant Managing Director at KEUNWHA Pharmaceutical Co., Ltd. Han was previously Director of GOJIN KOREA CO., LTD. Han holds a Bachelor of Business Administration from Sungkyunkwan University, Korea.

 

Age: 55

 

Education:

Sungkyunkwan University, B (Business Administration)

 

Hong Seon Jang

 

Co-Chief Executive Officer, Director

Director/Board Member

 

 

Biography:

Jang Hong Seon is Co-Chief Executive Officer and Director of KUKDONG OIL & CHEMICALS CO.,LTD. Previously, Jang served as Chief Executive Officer at Kukdong City Gas Co., Ltd., Shinsegae Mart Co., Ltd and two Korea-based companies. Jang holds a Bachelor's degree in Commerce from Yonsei University, Korea, and a Master's degree in Business Administration from New York University, the United States.

 

Age: 71

 

Education:

New York University, M (Business Administration)
Yonsei University, B (Commerce)

 

Seon Wu Jang

 

Assistant Managing Director

Director/Board Member

 

 

Biography:

Jang Seon Wu has been Assistant Managing Director of KUKDONG OIL & CHEMICALS CO.,LTD since 2008. Previously, Jang worked for Seyang Construction Industrial.Co.Ltd. Jang received a Bachelor's degree in Economics from St. Olaf College, the United States, and a Bachelor's as well as a Master's degrees in Economics from Yonsei University, Korea.

 

Age: 36

 

Education:

Yonsei University, M (Economics)
St. Olaf College, B (Economics)
Yonsei University, B (Economics)

 

Mun Yeol Jung

 

President, Co-Chief Executive Officer, Director

Director/Board Member

 

 

Biography:

Jung Mun Yeol has been President, Co-Chief Executive Officer and Director of KUKDONG OIL & CHEMICALS CO.,LTD since March 16, 2011. Previously, Jung served the Company as Managing Director and Assistant Managing Director. Jung used to be Factory Manager of a Korea-based company. Jung holds a Bachelor's degree in Chemical Engineering from Dong-A University, Korea.

 

Age: 63

 

Education:

Dong-A University, B (Chemical Engineering)

 

Mu Ryong Lee

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Lee Mu Ryong has been Non-Executive Independent Director of KUKDONG OIL & CHEMICALS CO.,LTD since March 16, 2011. Previously, Lee served as President and Chief Executive Officer of KEUNWHA PHARMACEUTICAL CO.,LTD. Lee received a Bachelor's degree in Law from Seoul National University, Korea.

 

Age: 69

 

Education:

Seoul National University, LLB 

 

 

 

Executives

 

Name

Title

Function

 

Hong Seon Jang

 

Co-Chief Executive Officer, Director

Chief Executive Officer

 

Biography:

Jang Hong Seon is Co-Chief Executive Officer and Director of KUKDONG OIL & CHEMICALS CO.,LTD. Previously, Jang served as Chief Executive Officer at Kukdong City Gas Co., Ltd., Shinsegae Mart Co., Ltd and two Korea-based companies. Jang holds a Bachelor's degree in Commerce from Yonsei University, Korea, and a Master's degree in Business Administration from New York University, the United States.

 

Age: 71

 

Education:

New York University, M (Business Administration)
Yonsei University, B (Commerce)

 

Moon Yeol Jung

 

Chief Executive Officer

Chief Executive Officer

 

 

Mun Yeol Jung

 

President, Co-Chief Executive Officer, Director

Chief Executive Officer

 

 

Biography:

Jung Mun Yeol has been President, Co-Chief Executive Officer and Director of KUKDONG OIL & CHEMICALS CO.,LTD since March 16, 2011. Previously, Jung served the Company as Managing Director and Assistant Managing Director. Jung used to be Factory Manager of a Korea-based company. Jung holds a Bachelor's degree in Chemical Engineering from Dong-A University, Korea.

 

Age: 63

 

Education:

Dong-A University, B (Chemical Engineering)

 

Su Yeong Han

 

Managing Director

Managing Director

 

 

Biography:

Han Su Yeong has been Managing Director of KUKDONG OIL & CHEMICALS CO.,LTD since 2009. Prior to the current position, Han was Assistant Managing Director of the Company and Assistant Managing Director at KEUNWHA Pharmaceutical Co., Ltd. Han was previously Director of GOJIN KOREA CO., LTD. Han holds a Bachelor of Business Administration from Sungkyunkwan University, Korea.

 

Age: 55

 

Education:

Sungkyunkwan University, B (Business Administration)

 

Soo Young Han

 

Assistant Managing Director

Managing Director

 

 

Seon Wu Jang

 

Assistant Managing Director

Managing Director

 

 

Biography:

Jang Seon Wu has been Assistant Managing Director of KUKDONG OIL & CHEMICALS CO.,LTD since 2008. Previously, Jang worked for Seyang Construction Industrial.Co.Ltd. Jang received a Bachelor's degree in Economics from St. Olaf College, the United States, and a Bachelor's as well as a Master's degrees in Economics from Yonsei University, Korea.

 

Age: 36

 

Education:

Yonsei University, M (Economics)
St. Olaf College, B (Economics)
Yonsei University, B (Economics)

 

Seong Wuk Choi

 

Internal Auditor

Accounting Executive

 

 

Age: 35

 

Education:

Korea University, B (Business Administration)

 

Gyu Beom Hwang

 

Internal Auditor

Accounting Executive

 

 

Biography:

Hwang Gyu Beom is Internal Auditor of KUKDONG OIL & CHEMICALS CO.,LTD. Previously, Hwang served as Assistant Managing Director at Seyang Construction Industrial.Co..Ltd and Director at GOJIN KOREA CO., LTD. Hwang received a Bachelor of Law from Seoul National University, Korea.

 

Age: 56

 

Education:

Seoul National University, B (Law)

 

D. J. Yang

 

Manager-Trading-Overseas

Investment Executive

 

 

S. H. Beak

 

Manager-Sales

Sales Executive

 

 

J. T. Choi

 

Manager-Sales-Liquid Petroleum Gas

Sales Executive

 

 

J. Y. Jun

 

Manager-Technology

Information Executive

 

 



Significant Developments

 

Kukdong Oil & Chemicals Co., Ltd. Declares Annual Cash Dividend for FY 2011 Feb 28, 2012

 

Kukdong Oil & Chemicals Co., Ltd. announced that it has declared an annual cash dividend of KRW 700 per share of common stock to shareholders of record on December 31, 2011, for the fiscal year 2011. The dividend rate of market price is 4.0% and the total amount of the cash dividend is KRW 2,440,859,400. The dividend payment date is April 10, 2012. The Company's annual cash dividend for the fiscal year 2010 was KRW 600 per share.

 

 

 

 

Annual Income Statement

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

KPMG LLP

KPMG LLP

Shinhan Accounting Corporation

Shinhan Accounting Corporation

Shinhan Accounting Corporation

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

281.3

211.3

146.1

175.8

133.4

Revenue

281.3

211.3

146.1

175.8

133.4

    Other Revenue

3.6

2.8

2.2

1.4

4.3

Other Revenue, Total

3.6

2.8

2.2

1.4

4.3

Total Revenue

284.9

214.1

148.3

177.2

137.7

 

 

 

 

 

 

    Cost of Revenue

254.4

187.8

126.2

152.6

118.5

Cost of Revenue, Total

254.4

187.8

126.2

152.6

118.5

Gross Profit

26.9

23.4

19.9

23.2

14.9

 

 

 

 

 

 

    Selling/General/Administrative Expense

12.3

10.4

9.3

9.0

8.2

    Labor & Related Expense

5.5

4.8

3.8

4.7

4.5

    Advertising Expense

0.1

0.1

0.1

0.1

0.1

Total Selling/General/Administrative Expenses

17.9

15.3

13.2

13.8

12.7

    Depreciation

0.2

0.3

0.4

0.4

0.6

    Amortization of Intangibles

0.0

0.0

0.0

0.0

0.0

Depreciation/Amortization

0.3

0.3

0.4

0.5

0.6

        Investment Income - Operating

0.0

0.0

-

-

-

    Interest/Investment Income - Operating

0.0

0.0

-

-

-

Interest Expense (Income) - Net Operating Total

0.0

0.0

-

-

-

    Loss (Gain) on Sale of Assets - Operating

0.0

0.0

-

-

-

Unusual Expense (Income)

0.0

0.0

-

-

-

    Other Operating Expense

0.1

0.0

-

-

-

    Other, Net

-1.0

-1.1

-

-

-

Other Operating Expenses, Total

-0.9

-1.1

-

-

-

Total Operating Expense

271.6

202.4

139.9

166.9

131.8

 

 

 

 

 

 

Operating Income

13.2

11.7

8.5

10.3

5.9

 

 

 

 

 

 

        Interest Expense - Non-Operating

-3.3

-2.7

-2.8

-2.5

-2.4

    Interest Expense, Net Non-Operating

-3.3

-2.7

-2.8

-2.5

-2.4

        Interest Income - Non-Operating

0.5

0.4

0.5

0.8

1.2

        Investment Income - Non-Operating

0.7

0.6

0.4

2.4

0.2

    Interest/Investment Income - Non-Operating

1.2

1.0

1.0

3.2

1.4

    Interest Income (Expense) - Net Non-Operating

0.0

0.0

-

-

-

Interest Income (Expense) - Net Non-Operating Total

-2.1

-1.7

-1.8

0.6

-1.0

Gain (Loss) on Sale of Assets

-

-

0.0

-0.1

-0.3

    Other Non-Operating Income (Expense)

-

-

0.8

0.1

0.3

Other, Net

-

-

0.8

0.1

0.3

Income Before Tax

11.1

10.0

7.4

10.9

5.0

 

 

 

 

 

 

Total Income Tax

2.8

2.2

1.7

3.1

1.5

Income After Tax

8.3

7.8

5.7

7.8

3.5

 

 

 

 

 

 

Net Income Before Extraord Items

8.3

7.8

5.7

7.8

3.5

    Discontinued Operations

-

-

1.8

1.4

-

Total Extraord Items

-

-

1.8

1.4

-

Net Income

8.3

7.8

7.5

9.2

3.5

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

8.3

7.8

5.7

7.8

3.5

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

8.3

7.8

7.5

9.2

3.5

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

3.3

3.2

3.2

3.1

3.1

Basic EPS Excl Extraord Items

2.50

2.43

1.78

2.48

1.11

Basic/Primary EPS Incl Extraord Items

2.50

2.43

2.35

2.94

1.11

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

8.3

7.8

7.5

9.2

3.5

Diluted Weighted Average Shares

3.5

3.4

3.3

3.5

3.1

Diluted EPS Excl Extraord Items

2.39

2.32

1.69

2.25

1.11

Diluted EPS Incl Extraord Items

2.39

2.32

2.23

2.66

1.11

Dividends per Share - Common Stock Primary Issue

0.54

0.52

0.47

0.55

0.54

Gross Dividends - Common Stock

1.7

1.7

1.5

1.7

1.7

Interest Expense, Supplemental

3.3

2.7

2.8

2.5

2.7

Depreciation, Supplemental

0.6

0.8

0.9

0.8

1.1

Total Special Items

0.0

0.0

0.0

0.1

0.3

Normalized Income Before Tax

11.1

10.0

7.4

11.0

5.3

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

0.0

0.0

0.0

0.1

Inc Tax Ex Impact of Sp Items

2.8

2.2

1.7

3.2

1.6

Normalized Income After Tax

8.3

7.8

5.7

7.8

3.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

8.3

7.8

5.7

7.8

3.7

 

 

 

 

 

 

Basic Normalized EPS

2.49

2.43

1.79

2.50

1.17

Diluted Normalized EPS

2.39

2.32

1.70

2.27

1.17

Amort of Intangibles, Supplemental

0.0

0.0

0.0

0.0

0.0

Rental Expenses

1.6

1.0

0.6

0.5

0.5

Advertising Expense, Supplemental

0.1

0.1

0.1

0.1

0.1

Research & Development Exp, Supplemental

0.1

0.1

-

-

0.0

Normalized EBIT

13.2

11.7

8.5

10.3

5.9

Normalized EBITDA

13.9

12.5

9.4

11.2

7.1

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

KPMG LLP

KPMG LLP

Shinhan Accounting Corporation

Shinhan Accounting Corporation

Shinhan Accounting Corporation

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

7.5

7.8

14.1

6.8

1.1

    Short Term Investments

0.2

0.2

2.8

5.6

11.0

Cash and Short Term Investments

7.7

8.0

16.9

12.5

12.1

        Accounts Receivable - Trade, Gross

62.6

43.2

32.7

28.8

26.9

        Provision for Doubtful Accounts

-0.1

-2.1

-2.1

-1.0

-0.5

    Trade Accounts Receivable - Net

62.5

41.2

30.7

27.8

26.7

    Other Receivables

6.5

5.9

1.2

1.0

2.9

Total Receivables, Net

69.0

47.1

31.9

28.8

29.6

    Inventories - Finished Goods

15.0

9.6

5.7

4.3

4.2

    Inventories - Raw Materials

5.8

4.5

8.7

6.6

7.0

    Inventories - Other

2.5

2.6

1.6

0.6

1.5

Total Inventory

23.4

16.6

16.1

11.6

12.8

Prepaid Expenses

0.1

0.1

0.1

0.1

0.1

    Deferred Income Tax - Current Asset

-

-

0.4

0.3

-

    Other Current Assets

0.0

0.0

0.0

-

-

Other Current Assets, Total

0.0

0.0

0.4

0.3

-

Total Current Assets

100.2

71.8

65.5

53.3

54.5

 

 

 

 

 

 

        Buildings

7.0

6.7

7.7

6.8

8.6

        Land/Improvements

21.7

21.7

34.8

27.1

25.2

        Machinery/Equipment

10.7

9.8

9.3

8.5

11.3

        Construction in Progress

1.1

1.1

-

-

-

        Other Property/Plant/Equipment

0.0

0.0

-

-

-

    Property/Plant/Equipment - Gross

40.4

39.4

51.7

42.4

45.0

    Accumulated Depreciation

-10.4

-10.1

-9.5

-8.3

-10.9

Property/Plant/Equipment - Net

30.0

29.2

42.3

34.1

34.1

Intangibles, Net

1.4

1.4

1.4

1.3

1.8

    LT Investment - Affiliate Companies

7.9

6.6

4.2

3.1

2.1

    LT Investments - Other

26.5

29.4

18.9

8.9

10.7

Long Term Investments

34.4

36.0

23.1

12.0

12.8

Note Receivable - Long Term

2.7

2.9

0.5

0.5

0.5

    Deferred Income Tax - Long Term Asset

-

-

-

0.7

-

    Other Long Term Assets

1.4

0.5

0.3

0.3

0.4

Other Long Term Assets, Total

1.4

0.5

0.3

0.9

0.4

Total Assets

170.1

141.8

133.0

102.1

104.1

 

 

 

 

 

 

Accounts Payable

16.7

13.4

13.6

8.2

8.3

Notes Payable/Short Term Debt

0.0

0.0

37.8

19.3

24.0

Current Portion - Long Term Debt/Capital Leases

-

-

5.2

8.3

0.4

    Dividends Payable

0.0

0.0

0.0

0.0

0.0

    Customer Advances

-

-

-

-

0.2

    Security Deposits

0.2

0.2

0.2

0.2

0.3

    Income Taxes Payable

0.8

1.1

1.3

2.7

0.7

    Other Payables

2.2

2.0

1.3

1.3

1.4

    Deferred Income Tax - Current Liability

-

-

-

-

0.0

    Other Current Liabilities

47.8

43.4

0.1

0.2

0.1

Other Current liabilities, Total

51.0

46.7

2.9

4.4

2.7

Total Current Liabilities

67.7

60.1

59.5

40.1

35.5

 

 

 

 

 

 

    Long Term Debt

5.2

2.3

2.2

8.7

12.4

Total Long Term Debt

5.2

2.3

2.2

8.7

12.4

Total Debt

5.2

2.3

45.1

36.2

36.8

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

3.1

2.5

2.6

-

0.4

Deferred Income Tax

3.1

2.5

2.6

-

0.4

    Reserves

-

-

-

0.0

0.0

    Pension Benefits - Underfunded

1.4

2.8

1.7

1.4

2.0

    Other Long Term Liabilities

12.2

0.7

0.7

-

-

Other Liabilities, Total

13.7

3.5

2.4

1.4

2.0

Total Liabilities

89.7

68.3

66.7

50.3

50.3

 

 

 

 

 

 

    Common Stock

15.1

14.1

13.7

12.7

17.1

Common Stock

15.1

14.1

13.7

12.7

17.1

Additional Paid-In Capital

0.9

0.4

2.5

1.6

2.0

Retained Earnings (Accumulated Deficit)

62.6

57.4

40.5

31.4

33.1

Treasury Stock - Common

-

-

-

-0.4

-0.8

Unrealized Gain (Loss)

1.0

0.8

9.6

6.6

2.4

    Other Equity

0.7

0.7

-

-

-

    Other Comprehensive Income

0.0

0.0

-

-

-

Other Equity, Total

0.7

0.7

-

-

-

Total Equity

80.4

73.4

66.3

51.8

53.8

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

170.1

141.8

133.0

102.1

104.1

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

3.5

3.2

3.2

3.1

3.1

Total Common Shares Outstanding

3.5

3.2

3.2

3.1

3.1

Treasury Shares - Common Stock Primary Issue

0.0

0.0

0.0

0.1

0.1

Employees

121

103

101

94

97

Number of Common Shareholders

-

3,020

3,986

1,261

1,421

Accumulated Intangible Amort, Suppl.

0.1

0.1

-

-

-

Deferred Revenue - Current

-

-

-

0.2

0.3

Total Long Term Debt, Supplemental

52.9

45.6

5.7

6.0

2.1

Long Term Debt Maturing within 1 Year

47.7

43.3

5.2

0.3

0.4

Long Term Debt Maturing in Year 2

3.5

0.3

0.0

5.1

0.4

Long Term Debt Maturing in Year 3

1.7

0.3

-

0.3

0.4

Long Term Debt Maturing in Year 4

-

1.8

-

-

0.4

Long Term Debt Maturing in 2-3 Years

5.2

0.6

0.0

5.4

0.9

Long Term Debt Maturing in 4-5 Years

-

1.8

-

-

0.4

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

0.6

0.3

0.4

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

KPMG LLP

KPMG LLP

Shinhan Accounting Corporation

Shinhan Accounting Corporation

Shinhan Accounting Corporation

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

8.3

7.8

7.5

9.2

3.5

    Depreciation

0.6

0.8

0.9

0.8

1.1

Depreciation/Depletion

0.6

0.8

0.9

0.8

1.1

    Amortization of Intangibles

0.0

0.0

0.0

0.0

0.0

Amortization

0.0

0.0

0.0

0.0

0.0

Deferred Taxes

-

-

0.2

-0.1

-0.1

    Unusual Items

0.8

-0.1

0.1

0.1

0.3

    Equity in Net Earnings (Loss)

-1.4

-0.7

-1.0

-1.2

-0.3

    Other Non-Cash Items

6.3

5.2

1.8

2.0

0.6

Non-Cash Items

5.8

4.4

0.9

0.9

0.6

    Accounts Receivable

-23.3

-13.8

-2.2

-10.2

2.9

    Inventories

-7.2

-0.3

-3.2

-2.4

-4.5

    Prepaid Expenses

-

-

0.0

0.0

0.0

    Other Assets

-0.1

0.2

-

-

-

    Accounts Payable

14.5

-0.1

4.1

2.7

0.9

    Taxes Payable

-

-

-1.4

2.5

-2.3

    Other Liabilities

-1.0

-0.1

-0.3

-0.9

-0.3

    Other Operating Cash Flow

-5.1

-4.5

-

-

0.0

Changes in Working Capital

-22.1

-18.7

-3.0

-8.3

-3.4

Cash from Operating Activities

-7.4

-5.7

6.4

2.6

1.6

 

 

 

 

 

 

    Purchase of Fixed Assets

-1.9

-1.9

-8.6

-2.2

-1.3

    Purchase/Acquisition of Intangibles

0.0

0.0

0.0

-

-0.7

Capital Expenditures

-2.0

-1.9

-8.6

-2.2

-1.9

    Sale of Fixed Assets

0.0

0.1

0.0

1.3

0.1

    Sale/Maturity of Investment

2.0

8.0

4.4

3.8

43.5

    Purchase of Investments

-0.3

-1.8

-2.3

-9.1

-42.4

    Other Investing Cash Flow

-0.9

-2.7

1.1

1.6

-2.3

Other Investing Cash Flow Items, Total

0.8

3.5

3.3

-2.4

-1.1

Cash from Investing Activities

-1.2

1.6

-5.3

-4.6

-3.0

 

 

 

 

 

 

    Other Financing Cash Flow

4.7

-2.5

-0.3

-0.4

-0.6

Financing Cash Flow Items

4.7

-2.5

-0.3

-0.4

-0.6

    Cash Dividends Paid - Common

-1.7

-1.7

-1.5

-1.4

-2.0

Total Cash Dividends Paid

-1.7

-1.7

-1.5

-1.4

-2.0

        Sale/Issuance of Common

-

-

1.2

-

-

    Common Stock, Net

-

-

1.2

-

-

    Warrants Converted

1.8

-

-

-

-

Issuance (Retirement) of Stock, Net

1.8

-

1.2

-

-

        Short Term Debt Issued

-

-

38.4

1.6

19.0

        Short Term Debt Reduction

-

-

-22.9

-

-17.2

    Short Term Debt, Net

-

-

15.5

1.6

1.8

        Long Term Debt Issued

3.6

1.7

0.5

9.1

0.1

        Long Term Debt Reduction

-

-

-10.4

0.0

-

    Long Term Debt, Net

3.6

1.7

-9.9

9.1

0.1

Issuance (Retirement) of Debt, Net

3.6

1.7

5.6

10.7

1.9

Cash from Financing Activities

8.4

-2.5

5.0

8.9

-0.7

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

-

-

-

Net Change in Cash

-0.2

-6.5

6.1

6.9

-2.1

 

 

 

 

 

 

Net Cash - Beginning Balance

8.0

14.2

6.7

0.9

3.2

Net Cash - Ending Balance

7.8

7.7

12.9

7.8

1.1

Cash Interest Paid

3.4

2.6

-

-

-

Cash Taxes Paid

2.5

2.5

-

-

-

 

 

 

Annual Income Statement

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

KPMG LLP

KPMG LLP

Shinhan Accounting Corporation

Shinhan Accounting Corporation

Shinhan Accounting Corporation

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Finished Goods & Merchandises Sales Reve

281.3

211.3

-

-

-

    Finished Products

-

-

68.1

75.7

59.0

    Merchandise Revenues

-

-

78.1

100.1

74.4

    Other Revenue

3.6

2.8

2.2

1.4

4.3

    Adjustment for Revenues

0.0

0.0

-

-

-

Total Revenue

284.9

214.1

148.3

177.2

137.7

 

 

 

 

 

 

    Costs of Goods and Services Sold

254.4

187.8

-

-

-

    Cost Finished Goods

-

-

56.9

65.2

52.2

    Merchandise Cost

-

-

67.5

87.4

65.0

    Cost of Other Sales

-

-

1.9

-

1.3

    Salaries & Wages

4.1

3.6

2.9

3.4

3.4

    Retirement & Severance Benefits

0.5

0.4

0.3

0.6

0.5

    Employee Benefits

0.5

0.4

0.4

0.3

0.3

    Entertainment Expense

0.5

0.4

0.4

0.4

0.4

    Amort. of Bad Debts

0.0

0.3

1.2

0.8

-

    Depreciation Expense

0.2

0.3

0.4

0.4

0.6

    Amortization-Intangibles

0.0

0.0

0.0

0.0

0.0

    Taxes and Dues

0.5

0.3

0.3

0.2

0.2

    Advertising Expense

0.1

0.1

0.1

0.1

0.1

    Travel Expense

0.3

0.2

0.2

0.2

0.2

    Communication Exp.

0.1

0.1

0.1

0.1

0.1

    Commissions Paid

1.2

1.1

1.1

0.9

0.5

    Sales Incentives

0.4

0.4

0.4

0.3

0.3

    Sales Service Commission

0.1

0.1

0.1

0.1

0.0

    Insurance Expense

0.1

0.1

0.1

0.1

0.2

    Shipping & Handling Expense

2.7

2.8

2.3

2.5

2.7

    Consumable Expense

0.1

0.1

0.1

0.1

0.1

    Printing Expenses

0.0

0.0

0.0

0.0

0.0

    Repair Expense

0.2

0.0

0.0

0.0

0.0

    Vehicle Expenses

0.4

0.3

0.2

0.2

0.2

    Exporting Expense

1.5

1.2

1.1

1.0

0.5

    Education & Training Expense

0.0

0.0

0.0

0.0

0.0

    Conference Expenses

0.0

0.1

0.0

0.0

0.1

    Tool Repair Expenses

0.9

0.5

0.6

0.6

0.8

    Services Expense

1.8

1.5

1.0

1.2

1.4

    Rent

1.6

1.0

0.6

0.5

0.5

    Utility Expense

0.1

0.0

0.0

0.0

0.0

    Service Expenses

0.2

0.2

0.0

-

-

    Adjustment for Selling and Administrativ

0.0

0.0

-

-

-

    Rental Income

-0.7

-0.7

-

-

-

    Gain on Disposal of Property, Plant and

0.0

0.0

-

-

-

    Miscellaneous Income

-0.2

-0.3

-

-

-

    Other Operating Income

-0.1

-0.1

-

-

-

    Adjustment for Other Operating Income

0.0

-

-

-

-

    Depreciation for Investment Property

0.0

0.0

-

-

-

    Loss on Disposal of Property, Plant and

0.0

0.0

-

-

-

    Donations Paid

-

0.0

-

-

-

    Miscellaneous Loss

0.0

0.0

-

-

-

    Other Operating Expense

0.1

-

-

-

-

    Adjustment for Other Operating Expense

0.0

0.0

-

-

-

Total Operating Expense

271.6

202.4

139.9

166.9

131.8

 

 

 

 

 

 

    Interest Income

0.5

0.4

0.5

0.8

1.2

    Dividend Income

0.0

0.0

0.0

0.2

0.1

    Gain on Foreign Currency Transactions

1.5

1.1

1.1

2.7

0.3

    Gain on Foreign Currency Translations

0.1

0.0

0.5

0.3

0.1

    Rental Income

-

-

0.6

0.5

0.4

    Gain on Disposal of Financial Instrument

0.2

0.3

-

-

-

    G-Disp Securities avail. for Sale

-

-

0.1

0.2

-

    Other Non-Op Income

-

-

0.2

0.1

0.1

    Gain on Currency Forwards Transactions

0.1

0.1

-

-

-

    Gain on Valuation of Currency Forward

0.0

0.0

0.0

-

-

    Recovery of Impairment Losses on Propert

-

-

0.0

-

-

    Interest Expense, Non-Operating

-3.3

-2.7

-2.8

-2.5

-2.4

    Loss on Foreign Currency Transactions

-1.4

-1.2

-1.5

-1.1

-0.3

    Loss on Foreign Currency Translations

-0.1

-0.1

-0.6

-0.5

0.0

    Loss-Reduction of Tangible Assets

-

-

0.0

-0.1

-

    Loss-Disposal of Accounts Receivable

-

-

0.0

-0.5

-0.3

    Loss-Scrapping of inventory

-

-

-

0.0

-

    Gain Disposal Tang Assets

-

-

0.0

0.4

0.0

    Loss on Valuation of Currency Forward

0.0

0.0

0.0

-

-

    Loss Disp Tang. Ast

-

-

0.0

0.0

0.0

    Bad Debt Expense

-

-

-

-0.5

-

    Loss on Disposal of Financial Instrument

-0.4

-

-

-

-

    Impairment Loss on Financial Instruments

-0.6

-0.1

-

-

-

    Loss-Disposal of Sec Available-Sale

-

-

-0.3

-0.5

-0.3

    Donations Paid

-

-

0.0

0.0

-

    Other Expenses

-

-

0.0

0.0

-0.1

    Other Non-Operating Expenses

-

-

0.0

-

-

    Loss on Currency Forwards Transaction

-0.1

-0.1

-

-

-

    Loss on Redemption of Bonds

-

-0.1

0.0

-

-

    Gain under Equity Method

-

-

1.1

1.2

0.3

    Losses on Valuation of Equity Method Sec

-

-

0.0

-

-

    Gain/Loss on Investments in Affiliates

1.4

0.7

-

-

-

    Adjustment for Finance Income

0.0

0.0

-

-

-

    Adjustment for Finance Expense

0.0

-

-

-

-

Net Income Before Taxes

11.1

10.0

7.4

10.9

5.0

 

 

 

 

 

 

Provision for Income Taxes

2.8

2.2

1.7

3.1

1.5

Net Income After Taxes

8.3

7.8

5.7

7.8

3.5

 

 

 

 

 

 

Net Income Before Extra. Items

8.3

7.8

5.7

7.8

3.5

    Discontinued Operations Income or Loss

-

-

1.8

1.4

-

Net Income

8.3

7.8

7.5

9.2

3.5

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

8.3

7.8

5.7

7.8

3.5

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

8.3

7.8

7.5

9.2

3.5

 

 

 

 

 

 

Basic Weighted Average Shares

3.3

3.2

3.2

3.1

3.1

Basic EPS Excluding ExtraOrdinary Items

2.50

2.43

1.78

2.48

1.11

Basic EPS Including ExtraOrdinary Item

2.50

2.43

2.35

2.94

1.11

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

8.3

7.8

7.5

9.2

3.5

Diluted Weighted Average Shares

3.5

3.4

3.3

3.5

3.1

Diluted EPS Excluding ExtraOrd Items

2.39

2.32

1.69

2.25

1.11

Diluted EPS Including ExtraOrd Items

2.39

2.32

2.23

2.66

1.11

DPS-Common Stock

0.54

0.52

0.47

0.55

0.54

Gross Dividends - Common Stock

1.7

1.7

1.5

1.7

1.7

Normalized Income Before Taxes

11.1

10.0

7.4

11.0

5.3

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

2.8

2.2

1.7

3.2

1.6

Normalized Income After Taxes

8.3

7.8

5.7

7.8

3.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

8.3

7.8

5.7

7.8

3.7

 

 

 

 

 

 

Basic Normalized EPS

2.49

2.43

1.79

2.50

1.17

Diluted Normalized EPS

2.39

2.32

1.70

2.27

1.17

Research & Development Exp

0.1

0.1

-

-

0.0

Advertising Expense, Supplemental

0.1

0.1

0.1

0.1

0.1

Interest Expense, Supplemental

3.3

2.7

2.8

2.5

2.7

Rental Expense, Supplemental

1.6

1.0

0.6

0.5

0.5

Amort of Intangibles, Supplemental

0.0

0.0

0.0

0.0

0.0

Depreciation, Supplemental

0.6

0.8

0.9

0.8

1.1

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

KPMG LLP

KPMG LLP

Shinhan Accounting Corporation

Shinhan Accounting Corporation

Shinhan Accounting Corporation

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Deposits

7.5

7.8

14.1

6.8

1.1

    ST Finl Assets

0.2

0.2

2.7

5.6

10.9

    Trade Receivable, Gross

62.6

43.2

32.7

28.8

26.9

    Doubtful Account

-0.1

-2.1

-2.1

-1.0

-0.5

    Adjustment for Trade Receivables

0.0

0.0

-

-

-

    Held-to-Maturity Securities Current

-

0.0

0.1

-

0.0

    Currency Futures, Current Assets

0.0

0.0

0.0

-

-

    Adjustment for Other Current Assets

0.0

0.0

-

-

-

    Account Receivables

6.4

5.8

1.2

0.7

0.8

    Accrued Income

0.0

0.0

0.0

0.1

0.3

    Adjustment for Other Receivabl

0.0

0.0

-

-

-

    Advance Payments

1.4

1.3

1.5

0.5

1.3

    Prepaid Expenses

0.1

0.1

0.1

0.1

0.1

    Deferred Income Taxes-Debit, Current

-

-

0.4

0.3

-

    Short-term Loans

0.1

0.1

-

0.2

2.1

    Merchandise

7.8

4.0

2.2

0.9

0.7

    Merchandises in Transit

-

-

-

-

0.2

    Finished Goods

7.2

5.6

3.6

3.4

3.3

    Raw Materials

4.9

3.9

5.1

5.0

4.7

    Raw Materials in Transit, Current

-

-

1.0

-

-

    Suppl. Material

0.9

0.6

2.7

1.6

1.7

    Goods in Transit

1.0

1.0

-

-

-

    Stored Goods

0.2

0.2

0.1

0.1

0.2

    Raw Mat.Transit

-

-

-

-

0.6

    Adjustment for Inventories

0.0

0.0

-

-

-

Total Current Assets

100.2

71.8

65.5

53.3

54.5

 

 

 

 

 

 

    LT Finl Assets

0.0

0.6

0.3

0.0

0.0

    Available-for-Sale Securities in Investm

2.6

4.6

10.1

-

-

    Held-to-Maturity Securities in Investmen

0.3

0.3

0.0

-

-

    LT Loans, Net

3.0

3.0

0.5

0.5

0.5

    Allowance for Doubtful Accounts for Non-

-0.3

-0.1

-

-

-

    Adjustment for Other Non-Current Receiva

-

0.0

-

-

-

    Investment in Properties

23.6

23.9

8.5

-

-

    Guarantee Dep.

1.4

0.5

0.3

0.3

0.4

    Deferred Taxes

-

-

-

0.7

-

    Membership Right

-

-

1.3

1.2

1.7

    Investment in Affiliates

7.9

6.6

4.2

3.1

2.1

    LT Invest Secs.

-

-

-

8.9

10.7

    Land

21.7

21.7

34.9

27.3

25.2

    Land-Reduction

-

-

-0.1

-0.1

-

    Buildings

4.9

4.9

5.9

5.2

6.1

    Buildings Depre.

-1.0

-0.9

-0.9

-0.7

-0.8

    Construction in Progress

1.1

1.1

-

-

-

    Structures

2.1

1.8

1.7

1.6

2.5

    Structure Depre.

-0.8

-0.7

-0.6

-0.4

-0.7

    Machinery/Equip.

7.0

6.4

5.9

5.2

7.2

    Mach/Equip Depre

-5.7

-5.7

-5.3

-4.6

-6.1

    Transport Equip.

1.1

0.9

0.9

0.9

1.0

    Transport Deprec

-0.7

-0.7

-0.6

-0.5

-0.7

    Tools/Equipments

1.2

1.1

1.3

1.1

1.5

    Tool/Equip Depr.

-1.0

-1.0

-1.1

-1.0

-1.3

    Fixtures

1.4

1.4

1.3

1.3

1.6

    Deprec. Fixtures

-1.3

-1.2

-1.1

-1.1

-1.4

    Adjustment for Property, Plant & Equipme

0.0

0.0

-

-

-

    Software, Intangible

0.1

0.0

0.0

0.0

0.1

    Membership Rights

1.4

1.4

-

-

-

    Adjustment for Intangible Assets

0.0

0.0

-

-

-

Total Assets

170.1

141.8

133.0

102.1

104.1

 

 

 

 

 

 

    Trade Acct. Pay.

16.7

13.4

13.6

8.2

8.3

    ST Borrowings

-

-

37.8

19.3

24.0

    Other Payables

2.2

2.0

1.3

1.3

1.4

    Adjustment for Other Current Payables

0.0

0.0

-

-

-

    Customer Advance

-

-

-

-

0.2

    Deposit Withheld

0.1

0.1

0.1

0.2

0.1

    Current Portion of Bonds

-

-

-

7.9

-

    Inc. Taxes Pay.

0.8

1.1

1.3

2.7

0.7

    Dividend Payable

0.0

0.0

0.0

0.0

0.0

    Current LT Liabs.

-

-

5.2

0.3

0.4

    Deferred Income Tax Credits

-

-

-

-

0.0

    Currency Futures, Current

0.0

0.0

0.0

-

-

    Current Financial Liabilities

47.7

43.3

-

-

-

    Guarantee Depost

0.2

0.2

0.2

0.2

0.3

Total Current Liabilities

67.7

60.1

59.5

40.1

35.5

 

 

 

 

 

 

    LT Borrowings

5.2

2.3

0.6

5.7

1.7

    Bonds

-

-

-

-

10.7

    Convertible Bonds

-

-

-

1.6

-

    Bonds With Stock Warrants

-

-

1.7

1.5

-

    Stock Warrants Adjustment

-

-

-0.1

-

-

Total Long Term Debt

5.2

2.3

2.2

8.7

12.4

 

 

 

 

 

 

    Non-Current Other Payables

11.5

-

-

-

-

    Other Non-Current Liabilities

1.3

-

-

-

-

    Present Value Discount

-1.3

-

-

-

-

    Adjustment for Other Non-Current Payable

-

-

-

-

-

    Guarantee Deposit, LT

0.8

0.7

0.7

-

-

    Retire Reserve

-

-

-

1.4

2.0

    Rsv-Sales Gurnt

-

-

-

0.0

0.0

    Deferred Income Taxes Liabilities Non-cu

3.1

2.5

2.6

-

0.4

    Deposits for Retirement and Severance Be

-

-

-0.5

-

-

    Provisions for Retirement and Severance

-

-

2.2

-

-

    Transfer to National Pension Fund

-

-

0.0

-

-

    Non-Current Fixed Benefit Liabilities

1.4

2.8

-

-

-

Total Liabilities

89.7

68.3

66.7

50.3

50.3

 

 

 

 

 

 

    Common Stock

15.1

14.1

13.7

12.7

17.1

    Additional Paid in Capital

0.6

-

-

-

-

    Stock Options

0.2

0.2

-

-

-

    Other Capital Surplus

0.0

0.0

2.5

1.6

2.0

    Consideration for Stock Warrants

-

0.1

-

-

-

    Consideration for Conversion Rights

0.0

0.0

-

-

-

    Adjustment for Capital Surplus

0.0

-

-

-

-

    Voluntary Reserve5

-

-

11.0

10.2

13.8

    Legal Reserve

2.1

1.9

1.7

1.4

1.8

    Reserve for Business Stabilizations

1.0

1.0

-

-

-

    Reserve for Business Expansions

6.9

7.0

-

-

-

    Reserve for Assets Revaluation

0.9

0.9

-

-

-

    Reserves for Financial Structure Improve

0.5

0.5

-

-

-

    Reserve for Debenture Reduction

2.6

2.7

-

-

-

    Retained Carried

49.5

44.2

27.8

19.8

17.5

    Adjustment for Retained Earnings or Accu

-

0.0

-

-

-

    Treasury Stock

-

-

-

-0.4

-0.8

    Gain-Valuation of Tangible Assets

-

-

11.4

8.5

-

    Loss on Disposal of Treasury Stocks

-

-

-

-0.1

0.0

    Valuation-Securities avail. for Sale

0.1

0.1

-1.6

-1.7

2.4

    Capital Change, Equity Method

0.2

0.0

-

-

-

    Capital Change, Equity Method (Loss)

-0.1

-0.3

-0.3

-0.2

-

    Gains on Disposal of Treasury Stock

0.7

0.7

-

-

-

    Adjustment for Accumulated Other Compreh

0.0

0.0

-

-

-

Total Equity

80.4

73.4

66.3

51.8

53.8

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

170.1

141.8

133.0

102.1

104.1

 

 

 

 

 

 

    S/O-Common Stock

3.5

3.2

3.2

3.1

3.1

Total Common Shares Outstanding

3.5

3.2

3.2

3.1

3.1

T/S-Common Stock

0.0

0.0

0.0

0.1

0.1

Deferred Revenue, Current

-

-

-

0.2

0.3

Accumulated Intangible Amort, Suppl.

0.1

0.1

-

-

-

Full-Time Employees

121

103

101

94

97

Number of Common Shareholders

-

3,020

3,986

1,261

1,421

LT Debt within 1 yr

47.7

43.3

5.2

0.3

0.4

LT Debt within 2 yr

3.5

-

0.0

5.1

0.4

LT Debt within 3 yr

1.7

0.6

-

0.3

0.4

LT Debt within 4 yr

-

1.8

-

-

0.4

LT Debt Remaining

-

-

0.6

0.3

0.4

Total Long Term Debt, Supplemental

52.9

45.6

5.7

6.0

2.1

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

KPMG LLP

KPMG LLP

Shinhan Accounting Corporation

Shinhan Accounting Corporation

Shinhan Accounting Corporation

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

8.3

7.8

7.5

9.2

3.5

    Depreciation

0.6

0.8

0.9

0.8

1.1

    Disp Tang Asst Loss

0.0

0.0

0.0

0.0

0.0

    Loss-Reduction of Tangible Assets

-

-

0.0

0.1

-

    Loss on Disposal of Financial Assets Ava

0.4

-

0.3

0.5

0.3

    Loss-Valuation of Currency Futures

0.0

0.0

0.0

-

-

    Depreciation of Investment Properties

0.0

0.0

-

-

-

    Impairment Loss on Financial Assets Avai

0.6

0.1

-

-

-

    Corporate Taxes Expense

2.8

2.2

-

-

-

    L-For Exch Translatn

0.1

0.1

0.3

0.2

0.0

    Loss-Scraping of Inventory

-

-

-

0.0

-

    Loss on Redemption of Bonds

-

0.1

0.0

-

-

    Retirement Allowance

0.7

0.6

0.3

0.8

0.7

    Accrued Interest Expense

3.3

2.7

0.2

0.0

-

    Loss under Equity Method

0.2

0.0

0.0

-

-

    Reversal Doubtful Account

0.0

0.3

1.2

0.8

-

    Other Provisions-Doubtful Account

-

-

-

0.5

-

    Amort-Intangible Asset

0.0

0.0

0.0

0.0

0.0

    Gain under Equity Method

-1.5

-0.7

-1.1

-1.2

-0.3

    Gain Disp Tang. Ast

0.0

0.0

0.0

-0.4

0.0

    Miscellaneous Gain

-

-0.2

-

-

-

    Interest Income

-0.5

-0.4

-

-

-

    Dividend Income

0.0

0.0

-

-

-

    Translation Gain

-0.1

0.0

-0.2

-0.3

-0.1

    Gain on Disposal of Financial Assets Ava

-0.2

-0.3

-0.1

-0.2

-

    Gain on Valuation of Currency Forwards

0.0

0.0

0.0

-

-

    Recovery-Sales Guarantee Reserve

-

-

0.0

-

-

    Recovery of Impairment Losses on Propert

-

-

0.0

-

-

    Inc in Trade Rcvbls

-22.6

-9.4

-1.8

-10.1

2.7

    Account Receivables

-0.7

-4.4

-0.4

-0.2

0.0

    Accrued Income

-

-

0.1

0.1

0.2

    Financial Assets at Fair Value Through P

0.0

0.0

-

-

-

    Other Current Assets

-0.1

0.2

-

-

-

    Dec Advanced Payment

-

-

-0.8

0.5

-0.6

    Dec In Prepaid Exp

-

-

0.0

0.0

0.0

    Increase Inventory

-7.2

-0.3

-2.4

-2.9

-3.9

    Inc Deferred Tax Assets

-

-

-

0.3

-0.4

    Inc in Trade Pay

3.6

-0.6

4.2

2.4

1.2

    Accounts Payable

10.9

0.5

-0.1

0.3

-0.3

    Inc in Advances Rcvd

-

-

-

-0.1

0.0

    Inc in Deposit Rcvd

-

-

-0.1

0.1

0.1

    Inc in Accrd Inc Tax

-

-

-1.4

2.5

-2.3

    Guarantee Deposit Received

-

-

0.0

0.0

0.0

    Reserve-Sales Guarantee

-

-

-

-

0.0

    Pymt of Retire Allow

-0.4

-0.1

-0.2

-1.0

-0.4

    Reserve-National Pension

-

-

0.0

0.0

0.0

    Dec-Dep for Ret Ins

-

-

0.0

0.2

0.0

    Financial Liabilities at Fair Value Thro

0.0

-

-

-

-

    Other Current Liabilities

1.4

-

-

-

-

    Plan Assets

-1.9

0.0

-

-

-

    Deferred Income Tax Debits, Current

-

-

-0.1

-0.3

-

    Deferred Income Tax Credit, Current, A/L

-

-

-

0.0

-0.1

    Deferred Income Tax Credit, A/L

-

-

0.3

-

0.3

    Adjustment for Operating Activities

0.0

0.0

-

-

-

    Cash-Interest Received

0.5

0.4

-

-

-

    Cash-Interest Paid

-3.4

-2.6

-

-

-

    Cash-Dividend Income

0.3

0.2

-

-

-

    Cash-Tax Paid

-2.5

-2.5

-

-

-

Cash from Operating Activities

-7.4

-5.7

6.4

2.6

1.6

 

 

 

 

 

 

    Dec-ST Finl Asset

-

2.6

3.1

2.4

43.2

    Disposal-ST Investment Assets

-

-

-

0.0

-

    Decrease-ST Loans

-

-

0.2

1.5

-

    Dividend Income-Equity Method Affiliates

-

-

0.2

0.2

0.2

    Decrease in Other Receivables

0.2

-

-

-

-

    Decrease in Other Non-Current Receivable

0.5

0.1

-

-

-

    Disposal of Non-Current Financial Instru

0.6

-

-

-

-

    Disp-Securities avail. for Sale

1.3

5.3

1.4

1.4

0.2

    Disposal-Buildings

-

-

-

0.3

0.0

    Proceeds from Sale of Held-to-Maturity S

0.0

0.1

-

-

0.0

    Decrease in Long-term Loans

-

-

0.4

-

0.1

    Decrease in Deposits Provided

-

-

0.1

-

0.2

    Decrease in Other Payables

0.0

0.0

-

-

-

    Increase-Guarantee Deposit Received

-

-

0.6

-

-

    Disposal-Land

-

-

-

0.6

0.0

    Disposal-Structure

-

-

-

0.3

-

    Disposal Mach./Equip

-

-

-

0.0

-

    Disposal Trans Equip

-

-

0.0

0.0

0.0

    Disposal-Supplies

-

-

-

0.0

-

    Disposal-Tools & Supplies

-

-

0.0

0.0

-

    Disposal of Property, Plant and Equipmen

0.0

0.1

-

-

-

    Increase-LT Financial Assets

-0.1

-0.3

-0.2

0.0

0.0

    Inc-ST Finl Assets

-

-

-

-

-37.7

    Increase in Other Receivables

-0.1

-

-

-

-

    Increase in Other Non-Current Receivable

-1.6

-2.8

-

-

-

    Purchase of Investment Properties

0.0

-

-7.8

-

-

    Acq-Securities avail. for Sale

-0.2

-1.2

-2.0

-8.8

-4.6

    Purchase of Held-to-Maturity Securities

-

-0.3

-

-

-

    Purchase of Investment in Affiliates

-

0.0

-

-0.3

-

    Increase-ST Loans

-

-

-

-

-2.2

    Increase in LT Loans

-

-

-0.4

-0.1

-0.3

    Inc in Guarant Depos

-

-

-0.1

0.0

-0.3

    Increase in Other Payables

0.1

-

-

-

-

    Acquis. of Building

-

-

-0.2

-1.1

-0.3

    Purch. of Structure

-

-

0.0

-0.1

0.0

    Purch. of Mach/Equip

-

-

-0.2

-0.1

-0.1

    Acq. of Trans Equip

-

-

-0.1

-0.3

-0.3

    Acq. in Tools/Suppl.

-

-

-0.1

-0.1

-0.2

    Acq-fixtures

-

-

-0.1

-0.1

-0.2

    Purchase of Property, Plant and Equipmen

-1.9

-1.9

-

-

-

    Acquisition of Land

-

-

-

-0.4

-0.1

    Purchase of Computer Software

0.0

0.0

0.0

-

-

    Increase-Membership Right

-

-

-

-

-0.7

Cash from Investing Activities

-1.2

1.6

-5.3

-4.6

-3.0

 

 

 

 

 

 

    Inc in ST Borrowings

-

-

38.4

1.6

19.0

    Increase-Accrued Dividend Payable

-

-

-

0.0

-

    Proceeds from Sale of Treasury Stock

-

-

1.2

-

-

    Increase-LT Borrowings

3.6

1.7

0.5

5.5

0.1

    Increase-Convertible Bond

-

-

-

1.8

-

    Issuance-Bond with Warrant

-

-

-

1.8

-

    Repayments of Short-term Borrowings

-

-

-22.9

-

-17.2

    Dividends Paid

-1.7

-1.7

-1.5

-1.4

-2.0

    Dec-Curr LT Liabs

-

-

-0.3

-0.4

-0.6

    Dec in LT Borrowings

-

-

-0.9

0.0

-

    Decrease-Convertible Bond

-

-

-1.7

-

-

    Decrease-Current Portion of Bond

-

-

-7.8

-

-

    Increase in Current Financial Liabilitie

63.7

43.9

-

-

-

    Decrease in Current Financial Liabilitie

-58.4

-44.7

-

-

-

    Decrease in Non-Current Financial Liabil

-0.6

-1.7

-

-

-

    Exercise of Stock Warrants

1.8

-

-

-

-

Cash from Financing Activities

8.4

-2.5

5.0

8.9

-0.7

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

-

-

-

Net Change in Cash

-0.2

-6.5

6.1

6.9

-2.1

 

 

 

 

 

 

Net Cash - Beginning Balance

8.0

14.2

6.7

0.9

3.2

Net Cash - Ending Balance

7.8

7.7

12.9

7.8

1.1

    Cash Interest Paid

3.4

2.6

-

-

-

    Cash Taxes Paid

2.5

2.5

-

-

-

 

 

 

Financial Health

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

Key Indicators USD (mil)

 

Quarter
Ending
30-Jun-2012

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2011

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

72.9

16.75%

284.9

27.49%

17.41%

21.78%

Operating Income1

5.1

50.91%

13.2

8.52%

8.94%

44.31%

Income Available to Common Excl Extraord Items1

3.9

163.28%

8.3

1.95%

2.41%

-1.04%

Basic EPS Excl Extraord Items1

1.13

142.21%

2.50

-1.70%

0.45%

-2.18%

Capital Expenditures2

0.3

53.31%

2.0

-3.72%

-3.83%

-5.34%

Cash from Operating Activities2

7.5

-

-7.4

-

-

-

Free Cash Flow

7.1

-

-9.0

-

-

-

Total Assets3

160.2

5.10%

170.1

21.77%

15.08%

15.89%

Total Liabilities3

75.8

-3.21%

89.7

33.22%

17.73%

17.26%

Total Long Term Debt3

5.0

-13.27%

5.2

128.12%

-18.21%

-12.81%

Employees3

-

-

121

17.48%

8.78%

4.10%

Total Common Shares Outstanding3

3.5

6.58%

3.5

8.97%

3.64%

2.17%

1-ExchangeRate: KRW to USD Average for Period

1152.046336

 

1107.891393

 

 

 

2-ExchangeRate: KRW to USD Average for Period

1141.692062

 

1107.891393

 

 

 

3-ExchangeRate: KRW to USD Period End Date

1157.641477

 

1152.000000

 

 

 

Key Ratios

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Profitability

Gross Margin

9.56%

11.08%

13.62%

13.17%

11.18%

Operating Margin

4.64%

5.45%

5.71%

5.81%

4.31%

Pretax Margin

3.90%

4.66%

4.96%

6.15%

3.64%

Net Profit Margin

2.91%

3.64%

3.81%

4.38%

2.53%

Financial Strength

Current Ratio

1.48

1.20

1.10

1.33

1.54

Long Term Debt/Equity

0.06

0.03

0.03

0.17

0.23

Total Debt/Equity

0.06

0.03

0.68

0.70

0.68

Interest Coverage

63,624,070.57

56,186,155.00

-

-

-

Management Effectiveness

Return on Assets

5.14%

5.70%

5.10%

7.56%

3.39%

Return on Equity

10.43%

11.21%

10.14%

14.78%

6.65%

Efficiency

Receivables Turnover

4.75

5.46

5.15

6.10

4.58

Inventory Turnover

12.32

11.56

9.67

12.64

11.16

Asset Turnover

1.77

1.57

1.34

1.73

1.34

Market Valuation USD (mil)

P/E (TTM)

5.38

.

Enterprise Value2

60.6

Price/Sales (TTM)

0.21

.

Enterprise Value/Revenue (TTM)

0.20

Price/Book (MRQ)

0.74

.

Enterprise Value/EBITDA (TTM)

3.64

Market Cap as of 12-Oct-20121

64.7

.

 

 

1-ExchangeRate: KRW to USD on 12-Oct-2012

1113.120841

 

 

 

2-ExchangeRate: KRW to USD on 30-Jun-2012

1157.641477

 

 

 

 

 

 

Annual Ratios

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Financial Strength

Current Ratio

1.48

1.20

1.10

1.33

1.54

Quick/Acid Test Ratio

1.13

0.92

0.82

1.03

1.17

Working Capital1

32.5

11.7

6.0

13.2

19.0

Long Term Debt/Equity

0.06

0.03

0.03

0.17

0.23

Total Debt/Equity

0.06

0.03

0.68

0.70

0.68

Long Term Debt/Total Capital

0.06

0.03

0.02

0.10

0.14

Total Debt/Total Capital

0.06

0.03

0.40

0.41

0.41

Interest Coverage

63,624,070.57

56,186,155.00

-

-

-

Payout Ratio

21.70%

21.33%

26.39%

22.00%

48.31%

Effective Tax Rate

25.51%

22.01%

23.10%

28.80%

30.38%

Total Capital1

85.6

75.8

111.4

88.0

90.6

 

 

 

 

 

 

Efficiency

Asset Turnover

1.77

1.57

1.34

1.73

1.34

Inventory Turnover

12.32

11.56

9.67

12.64

11.16

Days In Inventory

29.64

31.56

37.73

28.87

32.69

Receivables Turnover

4.75

5.46

5.15

6.10

4.58

Days Receivables Outstanding

76.85

66.82

70.85

59.88

79.77

Revenue/Employee2

2,264,030

2,117,619

1,609,789

1,646,958

1,409,371

Operating Income/Employee2

104,981

115,357

91,949

95,609

60,724

EBITDA/Employee2

110,075

123,441

101,667

103,719

72,309

 

 

 

 

 

 

Profitability

Gross Margin

9.56%

11.08%

13.62%

13.17%

11.18%

Operating Margin

4.64%

5.45%

5.71%

5.81%

4.31%

EBITDA Margin

4.86%

5.83%

6.32%

6.30%

5.13%

EBIT Margin

4.64%

5.45%

5.71%

5.81%

4.31%

Pretax Margin

3.90%

4.66%

4.96%

6.15%

3.64%

Net Profit Margin

2.91%

3.64%

3.81%

4.38%

2.53%

COGS/Revenue

89.30%

87.74%

85.11%

86.13%

86.03%

SG&A Expense/Revenue

6.28%

7.13%

8.89%

7.80%

9.24%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

5.14%

5.70%

5.10%

7.56%

3.39%

Return on Equity

10.43%

11.21%

10.14%

14.78%

6.65%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

-2.58

-2.42

-0.74

0.10

-0.10

Operating Cash Flow/Share 2

-2.04

-1.80

2.21

0.71

0.52

1-ExchangeRate: KRW to USD Period End Date

1152

1134.9

1164.475

1259.55

936.05

2-ExchangeRate: KRW to USD Average for Period

1152

1134.9

1164.475

1259.55

936.05

 

Current Market Multiples

Market Cap/Earnings (TTM)

5.38

Market Cap/Equity (MRQ)

0.74

Market Cap/Revenue (TTM)

0.21

Market Cap/EBIT (TTM)

3.89

Market Cap/EBITDA (TTM)

3.74

Enterprise Value/Earnings (TTM)

5.24

Enterprise Value/Equity (MRQ)

0.72

Enterprise Value/Revenue (TTM)

0.20

Enterprise Value/EBIT (TTM)

3.78

Enterprise Value/EBITDA (TTM)

3.64

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.12

UK Pound

1

Rs.87.08

Euro

1

Rs.70.15

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.