MIRA INFORM REPORT
|
Report Date : |
05.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAHAMIT MACHINERY
PUBLIC COMPANY LIMITED |
|
|
|
|
Registered Office : |
42, 48
Soi Chokchaijongchamroen,
Rama 3
Road, Bangpongpang, Yannawa, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1973 |
|
|
|
|
Com. Reg. No.: |
0107537002664 [Former : BOR MOR JOR. 513] |
|
|
|
|
Legal Form : |
Public
Limited Company |
|
|
|
|
Line of Business : |
Importer & Distributor Of Industrial Machinery & Spare Parts |
|
|
|
|
No. of Employees : |
481 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
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
SAHAMIT
MACHINERY PUBLIC COMPANY
LIMITED
SUMMARY
BUSINESS
ADDRESS : 42,
48 SOI CHOKCHAIJONGCHAMROEN,
RAMA 3
ROAD, BANGPONGPANG, YANNAWA,
TELEPHONE : [66] 2295-1000-8,
2295-1901-9
FAX :
[66] 2295-1009,
2295-1020
E-MAIL
ADDRESS : info@sahamit.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1973
REGISTRATION
NO. : 0107537002664
[Former : BOR MOR JOR. 513]
TAX
ID NO. : 3101058246
CAPITAL REGISTERED : BHT. 550,000,000
CAPITAL PAID-UP : BHT.
530,000,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PUBLIC LIMITED
COMPANY
EXECUTIVE : MR.
CHAISILP TAMESIRICHAI, THAI
PRESIDENT
NO.
OF STAFF : 481
LINES
OF BUSINESS : INDUSTRIAL MACHINERY
& SPARE PARTS
IMPORTER &
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The subject was established
on June 7,
1973 as a
private limited company
under the name
style “Sahamit Machinery Co.,
Ltd.” by Thai
groups, with the
initial business objective
to import and
distribute material, machinery
and appliances for
domestic industries. The
subject currently expands
its business to
other areas, which
can be divided
into 5 major
products groups, e.g. special
steel, machine tools
& tool, pulp
& paper, machinery
& equipment for
wood processing and
electrical engineering.
On November 21,
1994 the subject
registered for a
conversion of its
status to a
public limited company
under the name
SAHAMIT MACHINERY PUBLIC
COMPANY LIMITED. On
May 18, 2005,
it was listed on
the Stock Exchange
of Thailand. Subject
currently employs 481
staff.
The subject’s registered
address is 42,
48 Soi Chokchaijongchamroen, Rama 3
Rd., Bangpongpang, Yannawa, Bangkok 10120,
and this is
also the company’s
current operation address.
THE BOARD OF
DIRECTORS
|
Name |
|
Nationality
|
Age
|
|
|
|
|
|
|
Mr. Thana Senavattanagul |
|
Thai |
72 |
|
Mr. Chaisilp Tamesirichai |
[x] |
Thai |
69 |
|
Mr. Prasong Srithornratkul |
[x] |
Thai |
69 |
|
Mr. Pramote Sivaruk |
[x] |
Thai |
69 |
|
Mr. Kriangkrai Boonkitticharoen |
|
Thai |
69 |
|
Mr. Pichai Nithivasin |
|
Thai |
69 |
|
Mr. Pure Limsiripan |
|
Thai |
75 |
|
Gen. Vapirom Manasrangsi |
|
Thai |
66 |
|
Mr. Prayoon Vivetpuvanonth |
|
Thai |
- |
|
Mr. Karun Kittisataporn |
|
Thai |
65 |
AUTHORIZED PERSON
Two of the
mentioned directors [x]
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Chaisilp Tamesirichai is
the President.
He is
Thai nationality with
the age of
69 years old.
Mr. Prasong Srithornratkul is
the Vice President.
He is Thai
nationality with the
age of 69
years old.
Mr. Pramote Sivaruk
is the Vice
President.
He is Thai
nationality with the
age of 69 years old.
Mr. Thavee Senavattanagul is
the Assistant to
President.
He is Thai
nationality
Mr. Phut Sarayanthanawut is
the Assistant to
Vice President.
He is Thai
nationality.
Mrs. Angkana Kokpol is
the Assistant to
Vice President.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
distributing and servicing
wide range of
industrial machinery and
spare parts, which
can be divided
into 5 major
product groups as
follows:
1.
Special Steel
Product :
Special Steel Tool
Machinery and carbon
steel
Aluminum alloy
Metal
band saw blades
Injection
pins for plastic
mould
Service : The subject
provides a fully-integrated cutting
services such as
vertical
& horizontal milling
machine, surface grinding
machine for
making
finishing plate for
mould and dies, and
heat treatment service.
2.
Machine Tools
and Tooling
Product :
High quality electrical
discharge machine [CNC
Machine]
: Wide
range of milling
cutters and inserts
for milling in
almost
any
work material
: Digital
Readout, Measuring Equipment
: Tool
holders for various
machines
The subject
has been appointed
as the sole
agent of “Kitamura
Co.,
Ltd.”
in Japan, for
high speed CNC
milling machine, and
also
representative agent of
“Hardinge” brand of U.S.A.,
for CNC milling
and turning
machine.
Service :
The subject provides assistance,
training and maintenance
services,
using
high quality spare
parts and qualified
professional engineering
teams.
3.
Pulp and
Paper
Product : Newsprint
for newspapers, printing
and writing paper
:
Paper cutting and
slitting machines
:
Machinery, accessories, forming
fabric felt, canvas,
refiner plate
and chemicals for
pulp and paper industry
Service :
The subject provides
slit reels to
standard sizes and
converted
reams
of paper as
per customer’s requests.
4. Machinery and
Equipment for Wood
processing
Product : Abrasive paper,
abrasive cloth and
abrasive fiber
: Self
manufactured and imported
Industrial knives
: Tapioca
sawblades
: Edge
banding and wrapping
material for furniture
: Brand
new and used
woodworking machineries for
the panel and
furniture
industry
Service : The subject
provides slit and
jointed abrasive to
various sizes
ordered
by industrial customers,
as well as
consulting service for machine
selection.
5.
Electrical Engineering
Product : Computer
Substation Control System
: Electrical
Meter, Measuring center
: Wind
Generator
: Low-voltage
Switch Gear
Service : The
subject offers after
sales services including
consulting
and training, system
design and integration, installation
and commissioning.
Heat Treatment Service
Type of Services
: Vacuum quenching,
low pressure nitriding
allnit, carburizing,
carbonitriding, normalizing,
annealing, oil quenching & others.
The subject
also provides before
and after sales
services, consist of:
·
Fully integrated
pre-finishing service for
special steel
·
The heat
treatment service using
state-of-art machinery and
technology, with various
systems, such as
vacuum quenching, low
pressure nitriding, carburizing,
carbonitriding, normalizing, oil
quenching and others
·
Provide consulting
service for selection,
installation and maintenance
of machine and
spare parts
·
Paper cutting
and slitting services
·
Custom made
abrasive conversion services
The subject
also operates the
industrial knife production
for wood and
paper industries, in
cooperation with technology
transferred from Toyo
Knife Company Limited,
Japan.
MAJOR BRANDS
“SECO”, “SONY”,
“BOHLER”, “AGIECHARMILLES”, “EVERISING”,
“ZAYER”, “VERTEX”, “RONTGEN”,
“WIKUS”, “KELLENBERER”, “BRUKS
KLOCKNER”, “CEHISA”, “HERMES
ABRASIVE”, “IMEAS”, “MICHEL
NORDLINGER”, “SEAL”, “TOYO
KNIFE”, “KITAMURA”, “HARDINGE”
and etc.
PURCHASE
The subject purchases
the products from
both local and
overseas suppliers. 70%
of the products
is imported from
Japan, Germany, Austria,
Netherlands, Australia, Singapore,
Spain, Taiwan, United States
of America, United
Kingdom, Switzerland, Sweden,
Russia, Slovania and
France. The remaining
30% is purchased
from local suppliers.
At present, the
subject has around
70 local and
international suppliers.
MAJOR SUPPLIERS
|
Charmilles Technologies SA. |
: |
Switzerland
|
|
Seco Tools [S.E.A.]
Pte. Ltd. |
: |
Singapore |
|
Toyo Knife Ltd. |
: |
Japan |
|
Bohler International GmbH |
: |
Austria |
|
Bruks Klockner GmbH. |
: |
Germany |
|
Kitamura Co., Ltd. |
: |
Japan |
|
Agie Charmilles GmbH. |
: |
Germany |
SALES [LOCAL]
100% of
the products is
sold locally. 50%
of them is
sold by wholesale
to local dealers,
and another 50%
is sold directly
to end-users, such
as manufactures, with over
2,000 customers nationwide.
MAJOR CUSTOMERS
|
Thai Union Paper
Co., Ltd. |
: |
Thailand
|
|
Siam Pulp and
Paper Public Co., Ltd. |
: |
Thailand |
|
Bangkok Steel Industry
Co., Ltd. |
: |
Thailand |
REVENUE STRUCTURE [Unit : million baht]
|
|
2011 |
2010 |
||
|
Type of income |
Amount |
% |
Amount |
% |
|
|
|
|
|
|
|
Special steel and
heat treatment |
1,243,692 |
52.98 |
1,161,430 |
53.81 |
|
Tooling & machine
tools |
595,807 |
25.38 |
549,750 |
25.48 |
|
Paper |
213,508 |
9.09 |
185,712 |
8.61 |
|
Machinery & equipment for
wood Processing |
140,718 |
5.99 |
131,340 |
6.09 |
|
Electrical engineering |
117,383 |
5.00 |
80,683 |
3.74 |
|
Others income |
36,587 |
1.56 |
48,916 |
2.27 |
|
Total income |
2,347,695 |
100.00 |
2,157,831 |
100.00 |
SUBSIDIARIES AND AFFILIATED
COMPANIES
K. S. Mould Parts
Co., Ltd.
Business Type : Manufacturer
of mould parts.
Reanthong Wittaya Co.,
Ltd.
Business Type : Distributor
of stationery products.
Khon Kaen Sugar
Industry Public Co.,
Ltd.
Business Type : Manufacturer
of cane sugar
products.
Mahachai Kraft Paper
Co., Ltd.
Business Type : Distributor
of kraft paper.
Unique Design Co.,
Ltd.
Business Type : Manufacturer
& distributor of wooden
furniture.
Tamaka Sugar Industries
Co., Ltd.
Business Type : Manufacturer
of sugar
New Krung Thai
Sugar Industries Co.,
Ltd.
Business Type : Manufacturer
of sugar
Khonkaen Alcohol Co.,
Ltd.
Business Type : Manufacturer
& distributor of
eternal and fertilizer
Bangkok Industrial Gas
Co., Ltd.
Business Type : Distributor
of nitrogen gas
P.M.T. Commercial Co.,
Ltd.
Business Type : Service
apartment
LITIGATIONS
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
Local bills are
by cash or
on the credits
terms of 30-60
days.
Sales are by
cash or on
the credits term
of 30-60 days.
Imports are by
L/C at sight
and T/T.
BANKING
Bangkok Bank Public Co.,
Ltd.
[Head Office
: 333 Silom
Rd., Bangrak, Bangkok
10500]
[Ramkhamhaeng Branch
: Ramkhamhaeng Rd.,
Huamark, Bangkapi, Bangkok]
Kasikornbank Public Co.,
Ltd.
[Patpong Branch
: Surawong Rd.,
Suriyawongse, Bangrak, Bangkok
10500]
Krung Thai Bank
Public Co., Ltd.
[Head Office
: 35 Sukhumvit
Road, Klongton Nua,
Watana, Bangkok 10110]
Hongkong & Shanghai
Banking Corp.
[Bangkok Branch
: 968 Rama
IV Rd., Silom,
Bangrak, Bangkok 10500]
EMPLOYMENT
The subject employs
481 staff. [office,
sale staff and
service workers]
LOCATION DETAILS
The premise is
owned for operating
administrative office in
a 9 storey
building, in the
area of 3,280 square
meters at the
heading address. Premise
is located in
residential/commercial area.
There are 6
warehouses, covering the
10,000 square meters
of area, located
at 152, 155
Moo 4, Sukhumvit
Rd., Bangpakong, Chachoengsao.
COMMENT
For overall
performance of 2011, total
revenue was Bht. 2,347.69
million, Bht. 189.86 million or 8.80
percent increased from the previous
year. Even though the company did not
face the
flood disaster in any of
its premises but many customers are affected and had to
temporally cease their operations. Thus, the sales in Q4
were a little
less than expected.
However,
the company could still
increase the growth of
total revenue for the
whole year.
FINANCIAL INFORMATION
The capital was
registered at Bht.
400,000 divided into
4,000 shares of
Bht. 100 each.
The capital was
increased as followings
:
Bht. 2,000,000 in
1976
Bht. 50,000,000 in
September, 1991
Bht. 70,000,000 in March, 1993
Bht. 140,000,000 on
December 22, 1993
Bht. 220,000,000 in
1997
Bht. 550,000,000 in
2004
The latest registered
capital was increased
to Bht. 550,000,000
divided into 550,000,000
shares of Bht. 1 each
with the current
capital paid-up of
Bht. 530,000,000.
MAIN SHAREHOLDERS : [ as at
August 24, 2012]
at Bht. 530,000,000 of
capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Pramote Sivaruk Nationality: Thai Address : 46/32
Rama 2 Rd., Bangmod, Jomthong. Bangkok |
44,794,172 |
8.45 |
|
Mr. Chaisilp Tamesirichai Nationality:
Thai
Address : 42, 48 Soi
Chokchaijongchamroen, Rama 3 Rd.,
Bangpongpang, Yannawa, Bangkok |
43,469,346 |
8.20 |
|
Mr. Prasong Srithornratkul Nationality: Thai Address : 42, 48
Soi Chokchaijongchamroen, Rama
3 Rd.,
Bangpongpang, Yannawa, Bangkok |
42,878,936 |
8.09 |
|
Ms. Piyamol Srithornratkul Nationality: Thai Address :
42, 48 Soi Chokchaijongchamroen, Rama
3 Rd.,
Bangpongpang, Yannawa, Bangkok |
27,247,900 |
5.14 |
|
Ms. Piyaporn Srithornratkul Nationality: Thai Address : 42, 48
Soi Chokchaijongchamroen, Rama
3 Rd., Bangpongpang, Yannawa, Bangkok |
25,558,900 |
4.82 |
|
|
|
|
|
Ms. Nathaporn Tamesirichai Nationality:
Thai
Address : 42, 48
Soi Chokchaijongchamroen, Rama
3 Rd.,
Bangpongpang, Yannawa, Bangkok |
23,599,600 |
4.45 |
|
Ms. Prangthip Sivaruk Nationality: Thai Address : 46/32
Rama 2 Rd., Bangmod, Jomthong. Bangkok |
17,235,000 |
3.25 |
Ms. Sasirat Sivaruk
Nationality: Thai Address : - |
15,050,000 |
2.84 |
|
Mr. Chatree Soponpanich Nationality: Thai Address : - |
14,400,000 |
2.72 |
|
Ms. Piyanuch Tamesirichai Nationality: Thai Address : 200/254
Sukhumvit 77 Rd.,
Praves,
Prakanong, Bangkok 10250 |
14,384,300 |
2.71 |
|
Mr. Pornsilp Tamesirichai Nationality: Thai Address : 503
Sri Ayudhya Rd., Phyathai,
Rajthevee, Bangkok |
12,600,000 |
2.38 |
Thai NVDR Co.,
Ltd.
Nationality: Thai Address : - |
11,693,000 |
2.21 |
Mrs. Suchada Leesawadtrakul
Nationality: Thai Address :
-
|
11,500,000 |
2.17 |
|
Mr. Chaiyasit Viriyamettakul Nationality: Thai Address : - |
11,500,000 |
2.17 |
Mr. Vorarit Tamesirichai
Nationality : Thai Address : - |
10,800,000 |
2.04 |
Others
|
203,288,846 |
38.36 |
Total Shareholders :
1,300
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Sulalit Ardsawang No.
7517
BALANCE SHEET [BAHT]
The
latest financial figures
published as at
December 31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash in hand
& at bank
|
12,753,326.24 |
13,633,354.90 |
|
Trade accounts &
notes receivable |
468,287,041.46 |
499,480,475.50 |
|
Inventories |
1,204,746,895.18 |
1,001,622,257.88 |
|
Goods deposit |
6,000,912.04 |
19,492,559.97 |
|
Other current assets |
13,687,733.17 |
6,050,303.85 |
|
|
|
|
|
Total Current Assets
|
1,705,475,908.09 |
1,540,278,952.10 |
|
Real estate for investment |
10,686,528.59 |
11,591,062.39 |
|
Land, building & equipment |
657,419,480.59 |
615,341,029.14 |
|
Cash at bank
pledged as a
collateral |
577,270.75 |
574,427.34 |
|
Other non-current assets |
2,371,044.25 |
4,840,351.91 |
|
Total Assets |
2,376,530,232.27 |
2,172,625,822.88 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Bank overdraft &
short-term loans from financial institutions |
439,978,715.82 |
330,189,078.50 |
|
Accounts payable -trade |
204,839,358.64 |
204,605,976.79 |
|
Cash received in
advance under the Hiring agreement
|
23,214,250.69 |
24,485,301.11 |
|
Cash received in
advance under hiring agreement |
32,906,575.54 |
19,293,853.42 |
|
Accrued income tax |
34,950,083.40 |
32,240,840.41 |
|
Other current liabilities
|
27,675,353.86 |
30,219,857.79 |
|
|
|
|
|
Total Current Liabilities |
763,564,337.95 |
641,034,908.02 |
|
Obligation from employee’s
benefits |
25,040,472.00 |
- |
|
Other non-current liabilities |
150,000.00 |
150,000.00 |
|
Total Liabilities |
788,764,809.95 |
641,184,908.02 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
Share Capital :
Baht. 1 par
value Authorized share
capital 550,000,000 shares, Baht 1 par value each |
550,000,000.00 |
550,000,000.00 |
|
|
|
|
|
Issued and
fully paid-up 530,000,000 shares, Baht 1 par value each |
530,000,000.00 |
530,000,000.00 |
|
Premium on common
stock |
262,262,300.00 |
262,262,300.00 |
|
Retained Earning Appropriated for
statutory reserve |
55,000,000.00 |
55,000,000.00 |
|
Reserve for
Repurchase of Shares |
28,617,465.28 |
10,260,844.16 |
|
Unappropriated |
654,579,467.32 |
592,481,159.86 |
|
Other components of
shareholders’ equity |
85,923,655.00 |
91,697,455.00 |
|
|
|
|
|
Total Shareholders' Equity |
1,616,382,877.60 |
1,541,701,759.02 |
|
Less: Repurchase of share
capital |
[28,617,465.28] |
[10,260,844.16] |
|
Total Shareholders' Equity
- Net |
1,587,765,422.32 |
1,531,440,914.86 |
|
|
|
|
|
Total Liabilities &
Shareholders' Equity |
2,376,530,232.27 |
2,172,625,822.88 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales |
2,311,104,206.86 |
2,108,914,891.30 |
|
Other Income Commissions |
23,511,226.90 |
11,881,727.24 |
|
Gain on exchange rate |
- |
13,031,855.41 |
|
Reversal of
loss from land
appraisal |
- |
16,854,410.00 |
|
Others |
13,075,457.81 |
7,147,710.21 |
|
Total Revenues |
2,347,690,891.57 |
2,157,830,594.16 |
|
Expenses |
|
|
|
|
|
|
|
Cost of sales and services |
1,698,724,751.05 |
1,599,355,115.53 |
|
Selling expenses |
100,361,956.10 |
81,045,583.12 |
|
Administrative expenses |
203,854,781.43 |
192,457,659.10 |
|
Management’s remuneration |
21,492,886.83 |
20,668,024.00 |
|
Loss on exchange
rate |
12,323,364.28 |
- |
|
Financial cost |
10,478,090.55 |
10,335,472.62 |
|
Total Expenses |
2,047,235,830.24 |
1,903,861,854.37 |
|
|
|
|
|
Profit / [loss] before Income
Tax |
300,455,061.33 |
253,968,739.79 |
|
Income tax |
[78,611,391.75] |
[53,715,807.24] |
|
|
|
|
|
Net Profit / [Loss] |
221,843,669.58 |
200,252,932.55 |
The
latest financial figures
published as at
June 30, 2012
was :
ASSETS
|
Current Assets |
2012 |
|
|
|
|
Cash in hand
& at bank
|
24,340,300.87 |
|
Trade accounts &
notes receivable |
631,087,402.12 |
|
Inventories |
1,186,500,781.01 |
|
Cash deposit for
purchase |
9,560,881.58 |
|
Other current assets |
4,039,511.48 |
|
|
|
|
Total Current Assets
|
1,855,528,877.06 |
|
Fixed deposit using
for guarantee |
585,622.81 |
|
Investment property |
10,236,732.99 |
|
Property, plant and
equipment |
655,766,731.78 |
|
Other non-current assets |
2,410,517.26 |
|
Total Assets |
2,524,528,481.90 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
2012 |
|
|
|
|
Bank overdraft &
short-term loans from financial institutions |
393,880,589.97 |
|
Trade accounts payable
|
266,897,458.22 |
|
Other accounts payable |
34,584,792.31 |
|
Cash received in
advance under the
hiring agreement |
23,214,250.69 |
|
Cash received in
advance under sales
and services |
18,847,009.88 |
|
Accrued income tax |
40,352,193.70 |
|
Other current liabilities
|
4,227,730.53 |
|
|
|
|
Total Current Liabilities |
782,004,025.30 |
|
Employee benefit obligation
|
26,471,323.00 |
|
Other non-current liabilities |
150,000.00 |
|
Total Liabilities |
808,625,348.30 |
|
|
|
|
Shareholders' Equity |
|
|
Share Capital :
Baht. 1 par
value Authorized share
capital 550,000,000 shares, Baht 1 par value each |
550,000,000.00 |
|
|
|
|
Issued and
fully paid-up 530,000,000 shares, Baht 1 par value each |
530,000,000.00 |
|
Surplus capital |
|
|
Premium on
common stock |
262,262,300.00 |
|
Premium on
treasury shares |
12,951,122.72 |
|
Retained Earning Appropriated for
statutory reserve |
55,000,000.00 |
|
Unappropriated |
769,766,055.88 |
|
Other components of
equity |
85,923,655.00 |
|
Total Shareholders' Equity
- Net |
1,715,903,133.60 |
|
|
|
|
Total Liabilities &
Shareholders' Equity |
2,524,528,481.90 |
PROFIT &
LOSS ACCOUNT
For the
six-month periods ended
June 30, 2012.
|
Revenue |
2012 |
|
|
|
|
Sales |
1,420,925,967.55 |
|
Other Income Commissions |
19,687,476.24 |
|
Gain on exchange rate |
3,154,350.62 |
|
Others |
5,745,529.58 |
|
Total Revenues |
1,449,513,323.99 |
|
Expenses |
|
|
|
|
|
Cost of sales and
services |
1,069,189,925.42 |
|
Selling expenses |
62,015,338.25 |
|
Administrative expenses |
109,629,718.15 |
|
Management benefit expenses |
11,249,078.12 |
|
Financial costs |
6,144,056.82 |
|
Total Expenses |
1,258,228,116.76 |
|
|
|
|
Profit before Income
Tax |
191,285,207.23 |
|
Income tax |
[41,116,095.95] |
|
|
|
|
Net Profit / [Loss] |
150,169,111.28 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
2.23 |
2.40 |
|
QUICK RATIO |
TIMES |
0.63 |
0.80 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.52 |
3.43 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.97 |
0.97 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
258.86 |
228.59 |
|
INVENTORY TURNOVER |
TIMES |
1.41 |
1.60 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
73.96 |
86.45 |
|
RECEIVABLES TURNOVER |
TIMES |
4.94 |
4.22 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
44.01 |
46.69 |
|
CASH CONVERSION CYCLE |
DAYS |
288.81 |
268.34 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
73.50 |
75.84 |
|
SELLING & ADMINISTRATION |
% |
13.16 |
12.97 |
|
INTEREST |
% |
0.45 |
0.49 |
|
GROSS PROFIT MARGIN |
% |
28.08 |
26.48 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
13.00 |
12.04 |
|
NET PROFIT MARGIN |
% |
9.60 |
9.50 |
|
RETURN ON EQUITY |
% |
13.72 |
12.99 |
|
RETURN ON ASSET |
% |
9.33 |
9.22 |
|
EARNING PER SHARE |
BAHT |
0.42 |
0.38 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.33 |
0.30 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.49 |
0.42 |
|
TIME INTEREST EARNED |
TIMES |
28.67 |
24.57 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
9.59 |
|
|
OPERATING PROFIT |
% |
18.30 |
|
|
NET PROFIT |
% |
10.78 |
|
|
FIXED ASSETS |
% |
6.84 |
|
|
TOTAL ASSETS |
% |
9.39 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
28.08 |
Impressive |
Industrial
Average |
6.34 |
|
Net Profit Margin |
9.60 |
Impressive |
Industrial
Average |
1.14 |
|
Return on Assets |
9.33 |
Impressive |
Industrial
Average |
1.22 |
|
Return on Equity |
13.72 |
Impressive |
Industrial
Average |
2.51 |
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 28.08%. 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 9.6%, higher figure when compared with those of its average
competitors in the same industry, indicated that business was an efficient
operator in a dominant position within
its industry.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. Return on Assets ratio is 9.33%, higher figure when compared with those
of its average competitors in the same industry, indicated that business was an
efficient profit in a dominant position
within its industry.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. Return on Equity ratio
is 13.72%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profits in a
dominant position within its industry.
Trend of the average
competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY RATIO
|
Current Ratio |
2.23 |
Impressive |
Industrial Average |
1.03 |
|
Quick Ratio |
0.63 |
|
|
|
|
Cash Conversion Cycle |
288.81 |
|
|
|
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 2.23 times in 2011, decreased from 2.4 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 higher, indicated that company
was an efficient operator in a dominant position within its industry.
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 0.63 times in 2011,
decreased from 0.8 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 289 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE RATIO
|
Debt Ratio |
0.33 |
Impressive |
Industrial Average |
0.65 |
|
Debt to Equity Ratio |
0.49 |
Impressive |
Industrial
Average |
1.74 |
|
Times Interest Earned |
28.67 |
Impressive |
Industrial
Average |
1.37 |
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 28.68 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 0.33 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 Downtrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.52 |
Impressive |
Industrial
Average |
2.83 |
|
Total Assets Turnover |
0.97 |
Satisfactory |
Industrial
Average |
1.24 |
|
Inventory Conversion Period |
258.86 |
|
|
|
|
Inventory Turnover |
1.41 |
Deteriorated |
Industrial
Average |
3.78 |
|
Receivables Conversion Period |
73.96 |
|
|
|
|
Receivables Turnover |
4.94 |
Satisfactory |
Industrial
Average |
5.84 |
|
Payables Conversion Period |
44.01 |
|
|
|
Trend of the average
competitors in the same industry for last 5 years
Fixed Assets Turnover Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.97 |
|
|
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.67.19 |
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.