MIRA
INFORM REPORT
|
Report Date : |
23.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
THAI PRESIDENT FOODS PUBLIC COMPANY LIMITED |
|
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Registered Office : |
304 |
|
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
Date of Incorporation : |
18.04.1972 |
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|
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Com. Reg. No.: |
0107537001633 |
|
|
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|
Legal Form : |
Public
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Exporter of Instant Noodles and Biscuit |
|
|
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|
No. of Employees : |
3,190 |
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 : |
Regular |
|
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
With a well-developed
infrastructure, a free-enterprise economy, generally pro-investment policies,
and strong export industries,
Source
: CIA
Company name
THAI PRESIDENT FOODS PUBLIC COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 304
TF BUILDING,
BANGKAPI,
TELEPHONE : [66] 2374-4730
[AUTO LINES]
FAX :
[66] 2374-7743
E-MAIL
ADDRESS : tf@mama.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1972
REGISTRATION
NO. : 0107537001633
TAX
ID NO. : 3101020403
CAPITAL REGISTERED : BHT. 240,000,000
CAPITAL PAID-UP : BHT.
180,000,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PUBLIC LIMITED
COMPANY
EXECUTIVE : MR. PIPAT PANIANGVAIT,
THAI
CHIEF EXECUTIVE
OFFICER
NO.
OF STAFF : 3,190
LINES
OF BUSINESS : INSTANT NOODLES
AND BISCUIT
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on April 18,
1972, originally as a
private limited company
under the registered
name “Thai President
Foods Co., Ltd.,”
by Thai groups.
On May 16,
1994, subject became
to be a public
company, named THAI
PRESIDENT FOODS PUBLIC
COMPANY LIMITED, and
was also listed
on the Stock
Exchange of Thailand
[SET], under symbolic
“TF”, trading in the
Food & Beverage section.
The
subject was set
up initially by
a joint venture
between President Enterprise Co.,
Ltd., Taiwan and
Saha Pattanapibul Co., Ltd.,
Thailand to produce
instant noodles under
the “MAMA” brand.
Later, all the
shares were transferred
to Thai shareholders.
Its current business
is a producer of
instant noodles and
biscuit products for
domestic and international
markets. It currently
employs approximate 3,190
staff.
The
subject’s registered address
is 304 TF
Bldg., Srinakarin Rd., Huamark,
Bangkapi, Bangkok 10240,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Boonsithi Chokwatana |
|
Thai |
75 |
|
Mr. Pipat Paniangvait |
|
Thai |
73 |
|
Mr. Karmthon Punsak-udomsin |
|
Thai |
77 |
|
Mr. Kamthorn Tatiyakavee |
|
Thai |
58 |
|
Mr. Suchai Ratanajiajaroen |
|
Thai |
60 |
|
Mr. Boonchai Chokwatana |
|
Thai |
- |
|
Mr. Apichart Thammanomai |
|
Thai |
63 |
|
Mr. Poj Paniangvait |
|
Thai |
45 |
|
Mr. Boonpiam Eamrooroj |
|
Thai |
- |
|
Mr. Vathit Chokwatana |
|
Thai |
- |
|
Lady Angkab Punyashthiti |
[x] |
Thai |
78 |
|
Mrs. Kulpatra Sirodom |
[x] |
Thai |
56 |
|
Mr. Chaiwat Maraprygsavan |
[x] |
Thai |
66 |
|
Mr. Siripol Yodmuangcharoen |
[x] |
Thai |
64 |
|
Mr. Visith Chavasit |
[x] |
Thai |
55 |
AUTHORIZED PERSON
Any two of
the above directors,
excepted the mentioned
directors [x] can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Pipat Paniangvait : Chief
Executive Officer
Mr. Suchai Ratanajiajaroen : President
Dr. Pojanee Paniangvait : Vice President
Mr. Poj
Paniangvait : Vice
President
Mrs. Roungthong Tanarangsekul : Manager, Account & Finance Dept.
Mrs. Sumonrat Komolchote : Manager, RD &
QA Dept.
Mr. Taweesub Teekayuwat : Manager,
Sriracha Factory
Mr. Nirun Poothong : Manager, Rayong
Factory
Mrs. Suchada Paniangvait : Manager,
Lamphun Factory
Ms. Prapin Lawanprasert : Manager,
Sourcing Dept.
Ms. Ariya Tangcheevinsirikul : Manager,
Internal Audit Dept.
Mr. Wasan Boonsampankij : Manager, Finance
& Investment Dept.
Ms. Choojai Aksornsamai : Manager,
Administration Dept.
Mrs. Benjawan Paniangvait : Acting Manager, Business
Development Dept.
Ms. Vimol Techakosol : Manager, Chief
Executive Officer’s Office
Ms. Anchalee Sukhatunga : Manager,
Information Technology Dept.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and marketing of
food products, divided
into 2 main
products, as follows:
·
Instant
Noodle Products
The
subject is a
manufacturer and distributor
of instant noodle
under “MAMA” trademark.
The subject also
provides service to
produce instant noodle
to the leading
firm in overseas
markets.
·
Biscuit
Products
The subject
is a manufacturer
and distributor of
biscuit under trade
names
“BISSIN” and
“HOMEY”. Variety of
products including biscuit,
cracker and wafer
are in different
flavors such as
butter coconut, butter
coconut orange cream,
butter
coconut cocoa
topped, whole wheat
cracker, cream cracker,
wafers [chocolate,
coffee, strawberry,
vanilla, coconut, melon,
raspberry], and biscuit
with sesame,
chicken, cheese,
seaweed and etc.
The subject also
provides manufacturing service
of the products
under customer’s brands.
PRODUCTION CAPACITY [in
2011]
Full Capacity Real Capacity
[Tons per Day] [Tons per
Day]
Instant Noodle 355.70
352.11
Biscuit products
40.80 30.41
PURCHASE
Raw materials are
purchased from local
suppliers as well
as are imported
from Japan, Philippines,
Taiwan, Malaysia, Australia
and Singapore.
MAJOR SUPPLIERS
Kerry Flour Mills
Co., Ltd.
Liang Ha Import & Export Co.,
Ltd.
United Flour Trading
Co., Ltd.
Dai-Ichi Packaging Co.,
Ltd.
Kewpai
[Thailand] Co., Ltd.
Strong
Pack Co., Ltd.
SALES [LOCAL]
70% of the products is
sold locally by
the subject and
through Saha Pathanapibul
Public Company Limited,
and Thaisun Foods
Co., Ltd., Thailand.
EXPORT
30% of the products
is exported to
Australia, Canada, U.S.A.,
and many
countries in Asia and
Europe. Its own
brand products are
exported through President
Interfood Co., Ltd.,
while the customer
brand’s products are
exported directly by
the subject.
REVENUE STRUCTURE [Company
and subsidiaries]
|
|
2011 |
2010 |
||
|
Product Line |
Amount [M. baht] |
% |
Amount [M. baht] |
% |
|
Instant Noodles / Biscuit Products |
9,572.35 |
93.54 |
8,607.68 |
93.91 |
|
Paper Packaging |
660.91 |
6.46 |
558.53 |
6.09 |
|
|
|
|
|
|
|
Total Revenue |
10,233.26 |
100.00 |
9,166.21 |
100.00 |
SUBSIDIARY AND AFFILIATED
COMPANIES
President Danish Foods
Co., Ltd.
Business Type : Manufacturer
of biscuits & cookies, under
“ST. ANDREWS” trademark.
Investment : The subject
is holding 99.99%
of the company’s
shares.
Thai Anbao Paper
Products Co., Ltd.
Business Type : Manufacturer of
paper products.
Investment : The subject
is holding 51%
of the company’s
shares.
Dai-Ichi Packaging Co.,
Ltd.
Business Type : Manufacturer
of packaging materials.
Investment : The subject
is holding 50.01%
of the company’s
shares.
Taisun Foods Co.,
Ltd.
Business Type : Manufacturer
and trader of
fruit juice products.
Investment : The subject
is holding 52.08%
of the company’s
shares
Thai President Flour
Mill Co., Ltd.
Business Type : Manufacturer
of flour products.
Investment : The subject
is holding 60%
of the company’s
shares
Calon Thai President
Foods [BD] Co., Ltd.
Business Type : Manufacturer
and trader of
instant noodle products.
Investment : The subject
is holding 60% of the
company’s shares
etc.
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.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Bank of Tokyo-Mitsubishi UFJ
Ltd. [Bangkok Branch]
Bank of Ayudhya
Public Co., Ltd.
Citibank N.V. [Bangkok
Branch]
EMPLOYMENT
The
subject employs approximately
3,190 staff.
LOCATION DETAILS
The
premise is owned for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
Factories
are as follows:
-
601
Sukhapibal 8 Rd., T.
Nongkarm, A. Sriracha, Chonburi
20232
Tel.:
[66] 38 480-502,
Fax: [66] 38
480-184
-
99/9
Moo 5, T. Phasuk,
A. Muang, Lamphun 51000
Tel.:
[66] 53 584-088,
53 534-086, Fax:
[66] 53 534-086
-
43/244
Moo 4, Huayprab-Pluakdaeng Rd., T.
Mabyangporn, A. Pluakdaeng, Rayong
Tel.: [66] 38
891-530, Fax: [66]
38 891-533
COMMENT
In the year
2011, the income
of the company
grew continuously due to total
sales of both domestic
and overseas market and still
maintained leadership position in
the instant noodles marketed by
keeping its quality at international standard. The company also encouraged
product development to serve all
market segments with maximum
satisfaction, which has spurred
demand from consumers
in exports markets.
Instant noodle under the brand “MAMA” product is well recognized as
the most popular brand of Thailand’s instant noodle market. the Company still
maintained the leading position in the instant noodle market of Thailand by
accomplishing the largest market share of 53%.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 240,000,000
divided into 240,000,000
shares of Bht. 1
each.
THE
SHAREHOLDERS LISTED WERE
: [as at
May 4, 2012]
at Bht. 180,000,000
of capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Saha Pathana Inter
Holding Public Co.,
Ltd. |
39,475,820 |
21.93 |
|
Nissin Foods Holdings
Co., Ltd. |
36,146,100 |
20.08 |
|
Mr. Veeraphat Poonsak-udomsin |
9,560,100 |
5.31 |
|
Mr. Pipat Paniangvait |
8,744,970 |
4.86 |
|
Uni-Central Co., Ltd. |
5,129,250 |
2.85 |
|
Saha Pathanapibul Public
Co., Ltd. |
4,121,000 |
2.29 |
|
I.C.C. International Public
Co., Ltd. |
3,661,000 |
2.03 |
|
Universe Beauty Co.,
Ltd. |
3,533,000 |
1.96 |
|
Chokewattana Co., Ltd. |
3,492,380 |
1.94 |
|
Ms. Pavinee Poonsak-udomsin |
3,412,200 |
1.90 |
|
Mr. Sanguan Tatiyakavee |
3,138,520 |
1.74 |
|
Others |
59,585,660 |
33.11 |
Total Shareholders : 1,077
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Saifon Inkaew
No. 4434
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and Cash Equivalents |
1,004,101,314 |
2,751,822,367 |
|
Short-term Investment - Promissory
Notes |
2,569,947,222 |
668,458,471 |
|
Trade Accounts Receivable |
1,616,001,453 |
1,532,949,612 |
|
Inventories |
394,705,894 |
265,126,938 |
|
Other Current Assets
|
667,873 |
927,784 |
|
|
|
|
|
Total Current Assets
|
5,585,423,756 |
5,219,285,172 |
|
Investment in Subsidiaries |
241,527,140 |
126,758,300 |
|
Investment in Associates
|
251,422,549 |
265,270,049 |
|
Investment in Other
Companies |
124,721,067 |
124,721,067 |
|
Other Long-term Investment |
296,133,794 |
327,229,478 |
|
Advance Payment for Investments
in Related Parties |
36,343,367 |
- |
|
Investment in Properties |
60,534,529 |
62,869,044 |
|
Property, Plant and
Equipment |
1,434,219,243 |
1,284,826,881 |
|
Downpayment for Purchase
of Machinery |
19,676,250 |
18,861,799 |
|
Intangible Assets |
3,761,805 |
2,512,755 |
|
Other non-current Assets |
3,282,779 |
1,680,470 |
|
Total Assets |
8,057,046,279 |
7,434,015,015 |
LIABILITIES & SHAREHOLDERS' EQUITY
[BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Trade Accounts &
Other Payable |
911,008,899 |
811,502,446 |
|
Corporate Income Tax
Payable |
116,703,766 |
127,800,987 |
|
Accrued Bonus |
64,002,338 |
78,940,358 |
|
Other Accrued Expenses |
69,659,297 |
50,861,947 |
|
Other Current Liabilities |
20,628,281 |
18,514,420 |
|
|
|
|
|
Total Current Liabilities |
1,182,002,581 |
1,087,620,158 |
|
Provision for Long-term
Employee Benefits |
417,977,828 |
582,186 |
|
Total Liabilities |
1,599,980,409 |
1,088,202,344 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
Share capital |
|
|
|
Registered share capital |
|
|
|
24,000,000 ordinary shares
of Baht 10
each |
240,000,000 |
240,000,000 |
|
|
|
|
|
Issued and
fully paid-up share
capital |
|
|
|
18,000,000 ordinary
shares of Baht
10 each |
180,000,000 |
180,000,000 |
|
Share premium |
285,300,000 |
285,300,000 |
|
Retained Earning Appropriated Statutory Reserve |
24,000,000 |
24,000,000 |
|
Unappropriated |
5,904,312,575 |
5,800,491,821 |
|
Other Components of
Shareholders’ Equity |
63,453,295 |
56,020,850 |
|
Total Shareholders' Equity |
6,457,065,870 |
6,345,812,671 |
|
Total Liabilities & Shareholders'
Equity |
8,057,046,279 |
7,434,015,015 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales |
8,836,463,978 |
7,945,113,622 |
|
Other Income |
|
|
|
Interest Income |
95,478,791 |
44,247,305 |
|
Rent Income |
9,275,000 |
8,110,600 |
|
Dividend Income |
156,520,500 |
82,327,363 |
|
Exchange Gain |
15,164,245 |
3,719,942 |
|
Others |
34,100,199 |
24,706,848 |
|
Total Other Income |
310,538,735 |
163,112,058 |
|
Total Revenues |
9,147,002,713 |
8,108,225,680 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Sales
|
7,295,904,736 |
5,964,867,648 |
|
Selling Expenses |
142,850,934 |
165,407,809 |
|
Administrative Expenses |
612,770,102 |
585,437,310 |
|
Loss on Disposals
of Other Long-term Investments
|
- |
10,037,186 |
|
Total Expenses |
8,051,525,772 |
6,725,749,953 |
|
|
|
|
|
Profit before Finance Cost
and Corporate Income Tax |
1,095,476,941 |
1,382,475,727 |
|
Finance Cost |
[2,309,965] |
[2,449,093] |
|
|
|
|
|
Profit before Corporate Income Tax |
1,093,166,976 |
1,380,026,634 |
|
Corporate Income Tax |
[175,153,891] |
[229,564,128] |
|
Net Profit / [Loss] |
918,013,085 |
1,150,462,506 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
4.73 |
4.80 |
|
QUICK RATIO |
TIMES |
4.39 |
4.55 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
6.16 |
6.18 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.10 |
1.07 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
19.75 |
16.22 |
|
INVENTORY TURNOVER |
TIMES |
18.48 |
22.50 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
66.75 |
70.42 |
|
RECEIVABLES TURNOVER |
TIMES |
5.47 |
5.18 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
45.58 |
49.66 |
|
CASH CONVERSION CYCLE |
DAYS |
40.92 |
36.99 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
82.57 |
75.08 |
|
SELLING & ADMINISTRATION |
% |
8.55 |
9.45 |
|
INTEREST |
% |
0.03 |
0.03 |
|
GROSS PROFIT MARGIN |
% |
20.95 |
26.98 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
12.40 |
17.40 |
|
NET PROFIT MARGIN |
% |
10.39 |
14.48 |
|
RETURN ON EQUITY |
% |
14.22 |
18.13 |
|
RETURN ON ASSET |
% |
11.39 |
15.48 |
|
EARNING PER SHARE |
BAHT |
51.00 |
63.91 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.20 |
0.15 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.25 |
0.17 |
|
TIME INTEREST EARNED |
TIMES |
474.24 |
564.48 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
11.22 |
|
|
OPERATING PROFIT |
% |
(20.76) |
|
|
NET PROFIT |
% |
(20.20) |
|
|
FIXED ASSETS |
% |
11.63 |
|
|
TOTAL ASSETS |
% |
8.38 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
20.95 |
Satisfactory |
Industrial
Average |
26.10 |
|
Net Profit Margin |
10.39 |
Acceptable |
Industrial
Average |
16.75 |
|
Return on Assets |
11.39 |
Deteriorated |
Industrial
Average |
23.04 |
|
Return on Equity |
14.22 |
Deteriorated |
Industrial Average |
29.03 |
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 20.95%. When
compared with the industry average, the ratio of the company was lower. This
indicated that company was originated from the problems with control over its
costs.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. The company's figure is 10.39%.
When compared with the industry average, the ratio of the company was lower.
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 11.39%.
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 14.22%.
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 |
4.73 |
Satisfactory |
Industrial
Average |
4.75 |
|
Quick Ratio |
4.39 |
|
|
|
|
Cash Conversion Cycle |
40.92 |
|
|
|
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 4.73 times in 2011, decreased from 4.8 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 4.39 times in 2011,
decreased from 4.55 times, although excluding inventory so the company still have
good short-term financial strength.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 41 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.20 |
Acceptable |
Industrial
Average |
0.12 |
|
Debt to Equity Ratio |
0.25 |
Impressive |
Industrial
Average |
0.09 |
|
Times Interest Earned |
474.24 |
Impressive |
Industrial
Average |
289.36 |
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 474.24 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 0.2 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 |
6.16 |
Impressive |
Industrial
Average |
4.29 |
|
Total Assets Turnover |
1.10 |
Acceptable |
Industrial
Average |
1.71 |
|
Inventory Conversion Period |
19.75 |
|
|
|
|
Inventory Turnover |
18.48 |
Satisfactory |
Industrial
Average |
23.18 |
|
Receivables Conversion Period |
66.75 |
|
|
|
|
Receivables Turnover |
5.47 |
Acceptable |
Industrial
Average |
7.86 |
|
Payables Conversion Period |
45.58 |
|
|
|
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.55.16 |
|
|
1 |
Rs.88.03 |
|
Euro |
1 |
Rs.70.86 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.