MIRA
INFORM REPORT
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Report Date : |
06.10.2012 |
IDENTIFICATION DETAILS
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Name : |
UNISON LABORATORIES CO., LTD. |
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Registered Office : |
39 Moo 4, T. Klong-Udomcholajorn, A. Muang, Chachoengsao 24000 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
02.07.1956 |
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Com. Reg. No.: |
0105499000718 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Distributor & Exporter of Pharmaceutical Products |
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No. of Employees : |
500 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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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) |
|
Thailand |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
THILAND - ECONOMIC OVERVIEW
With a well-developed infrastructure,
a free-enterprise economy, generally pro-investment policies, and strong export
industries, Thailand enjoyed solid growth from 2000 to 2007 - averaging more
than 4% per year - as it recovered from the Asian financial crisis of 1997-98.
Thai exports - mostly machinery and electronic components, agricultural
commodities, and jewelry - continue to drive the economy, accounting for more
than half of GDP. The global financial crisis of 2008-09 severely cut
Thailand's exports, with most sectors experiencing double-digit drops. In 2009,
the economy contracted 2.3%. In 2010, Thailand's economy expanded 7.8%, its
fastest pace since 1995, as exports rebounded from their depressed 2009 level.
Steady economic growth at just below 4% during the first three quarters of 2011
was interrupted by historic flooding in October and November in the industrial
areas north of Bangkok, crippling the manufacturing sector and leading to a
revised growth rate of only 0.1% for the year. The industrial sector is poised
to recover from the second quarter of 2012 onward, however, and the government
anticipates the economy will probably grow between 5.5 and 6.5% for 2012, while
private sector forecasts range between 3.8% and 5.7%.
Source
: CIA
Company name
UNISON
LABORATORIES CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 39
MOO 4, T. KLONG-UDOMCHOLAJORN,
A.
MUANG, CHACHOENGSAO 24000
TELEPHONE : [66] 38
564-930-2
FAX :
[66] 38
364-929
E-MAIL
ADDRESS : export@unisonlab.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1956
REGISTRATION
NO. : 0105499000718 [Former : 120/2499]
TAX
ID NO. : 3101042283
CAPITAL REGISTERED : BHT. 181,000,000
CAPITAL PAID-UP : BHT.
181,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SUDDHINAI THANESVORAKUL, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 500
LINES
OF BUSINESS : PHARMACEUTICAL PRODUCTS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The subject was
established on July
2, 1956 as
a private limited
company under the
registered name “Unison America
Co., Ltd.”, by Thai group,
Thanesvorakul family. On
March 13, 1968
the subject changed
its name to
UNISON LABORATORIES CO., LTD.
It currently employs
approximate 500 staff.
The subject
is a leading
pharmaceutical product manufacturer
in Thailand, with
over one hundred
registered pharmaceutical products
widely recognized in
both domestic and
international markets. The products
have been approved
by the Food
and Drug Administration [FDA],
Ministry of Public Health of Thailand
and Department of
Medical Sciences.
UNISON is a certified GMP [Good Manufacturing Practice] manufacturer
of pharmaceutical products
in the area
of both PENICILLIN
and NON-PENICILLIN. The
products are in
form of tablet,
capsule, powder for
oral suspension, cream
and ointment with
sugar and film
coating facilities. Most
of its tablets
and capsules are
packed in blister
and strip packaging.
The subject’s registered address
was initially located
at 160 Soi
Onnuch, Sukhumvit 77
Rd., Ladkrabang, Bangkok
10520.
On January 18,
2006, the registered
address was changed
by the government,
to be 30
Soi Onnuch, Ladkrabang
Rd., Ladkrabang, Bangkok 10520.
On March 29, 2010,
the registered address
was relocated to
39 Moo 4, T.
Klong-Udomcholajorn, A. Muang, Chachoengsao
24000, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Suddhinai Thanesvorakul |
|
Thai |
62 |
|
Dr. Vaivudhi Thanesvorakul |
|
Thai |
64 |
|
Mrs. Karnda Thanesvorakul |
|
Thai |
61 |
|
Ms. Tarnthip Thanesvorakul |
|
Thai |
34 |
AUTHORIZED PERSON
Two of the
above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Suddhinai Thanesvorakul is
the Managing Director.
He is Thai
nationality with the
age of 62
years old.
Ms. Suneerat Masomchai
is the Account
Manager.
She is Thai
nationality.
Mrs. Kanokwan Thammitr
is the Plant
& Production Manager.
She is Thai
nationality.
Mr. Sombat Poonpitayathorn is
the Marketing Director.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activity
is manufacturer of
pharmaceutical products, Ethical,
Generic, and OTC drugs
including non-steroidal anti-inflammatory drugs [NSAID’S],
antihyperlipidemic, antibacterial
[penicillins], antihypertensive, antibacterial [quinolones], antifungal,
antidiabetic, oil [soft
gelatin capsule products] and
etc., as
well as health
food supplements [nutritional
and herbal products],
foods, cosmetics, toiletries
and personal care
products.
Lists of its
products are as
follows:
|
Drugs |
Tradename |
|
Tetracyclines |
Amermycin, Docyl |
|
Anti-Anginal |
Amlod |
|
Penicillin |
Amprexyl, Dicloson, Lidoxin, Moximed,
Pener, Unomox |
|
Cough & Cold |
Amtuss, Expetan |
|
Antihistamines |
Bosnum |
|
Calcium/with Vitamins |
Calcar, Carbocal |
|
Haemorrheologicals |
Cerator |
|
Anticoagulants |
Cilosol |
|
Quinolones |
Cipon |
|
Antispasmodies |
Deolin |
|
Topical Corticosteroids |
Derzid |
|
Antidiabetic Agents |
Deson, Diasef, Xeltic |
|
Topical Antifungals |
Diazon Cream |
|
Antivirals |
Entir |
|
Macrolides |
Fascar, Floctil |
|
Antidepressants |
Fluxetil |
|
Antacids, Antireflux Agents |
Gaster |
|
Nonsteroidal Antiinflammaroty |
Gesica, Ibufac |
|
Antiparkinsonian Drugs |
Levomet, Sefmex, Vopar |
|
Dyslipidaemic Agent |
Lexemin |
|
Nootropics & Neurotonics |
Mecobin |
|
Antipsychotics |
Olapin - 10, Quantia 200 |
|
Muscle Relaxants |
Orano, Pormus |
|
Beta-Blockers |
Palon, Preloc, Sefloc |
|
Dyslipidaemic Agents |
Raset |
|
Vitamin B-Complex/with C |
Re-B Forte, Vitabion, Vitelsix |
|
Quinolones |
Rexacin, Sefnor, Uroxin, Viotisone |
|
Analgesics (Opioid) |
Sefmal |
|
Anti-inflammatory Enzymes |
Serrason |
|
Antifungals |
Stalene |
|
Laxatives, Purgatives |
U-Enema, Uni-Ma Enema, Xubil |
|
Topical Corticosteriods |
Uniderm |
|
Antispasmodics |
Unigan |
|
Antivirals |
Vivir |
|
Anthelmintics |
Zela |
|
etc. |
|
The subject’s products
are approved by
The National Health
Organizations in many
countries worldwide.
PURCHASE
50% of raw
materials is purchased
from local suppliers.
IMPORT [COUNTRIES]
50% of the raw
materials is imported
from Japan, Germany, Republic of
China, Taiwan, Italy,
U.S.A., India, Hungary,
Spain, Switzerland and
Latin America countries,
as well as
machinery is imported
from Korea.
MAJOR SUPPLIER
Anben Pharma S.A.R.L. : France
SALES [LOCAL]
60% of its
products is sold
locally to dealer,
Thai government and
private hospital.
EXPORT [COUNTRY]
40% of the
products is exported
to Hong Kong, Myanmar,
Philippines, Bangladesh, Fiji,
Malaysia, Nigeria, Taiwan,
India, Pakistan, Yemen,
Singapore, Nigeria, Uruguay,
Panama, Sri Lanka,
Vietnam, Republic of
China, Europe, Africa
and Middle East
countries.
MAJOR CUSTOMERS
Ministry of Public
Health
Thai Government and
Private Hospital
PARENT COMPANY
Medline Co., Ltd.
Address: 736-742
Pracha-uthit Road, Huaykwang,
Bangkok
AFFILIATED COMPANY
F.C.P. Co., Ltd.
Business Type: Distributor of
pharmaceutical and cosmetic
products
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 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 D/A on
the credits term
of 90-120 days or T/T.
Exports are against
L/C at sight
& T/T.
BANKING
Kasikornbank Public Co.,
Ltd.
[Silom Branch:
Silom Rd., Suriyawong,
Bangrak, Bangkok 10500]
Bangkok Bank Public
Co., Ltd.
Export-Import Bank of
Thailand
EMPLOYMENT
The subject employs
approximately 500 staff.
[office, sales staff
and factory workers]
LOCATION DETAILS
The premise is
owned for administrative office
and factory on
11,200 square meters of
area at the
heading address. Premise
is located in
an industrial area.
Branch/warehouse:
- 243-243/1 Onnuch Rd.,
Prawet, Bangkok 10250.
COMMENT
More than 50 years of
growth and expansion,
the company has
become one of
the leading pharmaceutical product
manufacturers in Thailand with over
one hundred registered
pharmaceutical products widely
recognized in both
domestic and international
markets. These include
ETHICAL, GENERIC, and
OTC drugs approved
by the Food
and Drug Administration [FDA], Ministry of Public
Health of Thailand. As well UNISON’s
pharmaceutical products are
approved by the
National Health Organizations
in many countries
around the world.
Market Conditions
Due to
continuous growing of
healthcare industry, the
subject also has
strong growth, and
its business remains
solid.
FINANCIAL INFORMATION
The capital was
registered at Bht.
300,000 divided into
1,500 shares of
Bht. 200 each.
The capital was
increased later as
follows:
Bht. 30,000,000
on March
14, 1979
Bht. 66,000,000
on November
2, 2006
Bht. 76,000,000
on December 25,
2006
Bht. 181,000,000
on December 21,
2009
The latest registered
capital was increased
to Bht. 181,000,000
divided into 1,810,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 20,
2012]
|
NAME |
HOLDING |
% |
|
Medline Co., Ltd. Nationality: Thai Address : 736-750 Pracha-Utit
Rd., Samsennok,
Huaykwang, Bangkok 10320 |
1,809,994 |
99.99 |
|
Mr. Suddhinai Thanesvorakul Nationality: Thai Address : 52 Soi
Ramkhamhaeng 12, Huamark,
Bangkapi, Bangkok |
1 |
|
|
Mrs. Karnda Thanesvorakul Nationality: Thai Address : 916 Ramkhamhaeng Rd.,
Huamark,
Bangkapi, Bangkok |
1 |
|
|
Mr. Chatree Pongsakornchai Nationality: Thai Address : 217/16 Pracharaj 1 Rd., Bangsue, Bangkok 10800 |
1 |
= 0.01 |
|
Ms. Tarntip Thanesvorakul Nationality: Thai Address : 48 Soi
Ramkhamhaeng 12, Huamark,
Bangkapi, Bangkok |
1 |
|
|
Mr. Anol Thanesvorakul Nationality: Thai Address : 12/14 Soi
Chaiyapruek 12, Sapansoong,
Bangkok |
1 |
|
|
Dr. Vaivudhi Thanesvorakul Nationality: Thai Address : 7 Soi Ramkhamhaeng 12,
Huamark,
Bangkapi, Bangkok |
1 |
|
Total Shareholders : 7
Share Structure [as
at April 20,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
1,810,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
1,810,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Prawit Wongkanit
No. 4193
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and Cash Equivalents |
3,809,415.81 |
1,786,777.44 |
|
Trade Accounts & Other Receivable |
395,037,706.86 |
187,346,692.42 |
|
Inventories |
219,945,258.51 |
229,980,944.84 |
|
Other Current Assets
|
13,078,797.26 |
36,707,382.69 |
|
|
|
|
|
Total Current Assets
|
631,871,178.44 |
455,821,797.39 |
|
Other Long-term Investment |
4,538,450.00 |
4,538,450.00 |
|
Fixed Assets |
1,124,575,321.92 |
1,130,701,942.61 |
|
Other Non-current Assets |
18,482,390.86 |
11,577,588.44 |
|
Total Assets |
1,779,467,341.22 |
1,602,639,778.44 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
213,646,119.42 |
96,137,079.20 |
|
Trade Accounts & Other
Payable |
152,692,991.96 |
246,315,680.53 |
|
Current Portion of Long-term Loans |
75,571,440.00 |
75,571,440.00 |
|
Accrued Income Tax |
- |
3,792,785.37 |
|
Other Current Liabilities |
1,839,562.02 |
1,784,425.85 |
|
|
|
|
|
Total Current Liabilities |
443,750,113.40 |
423,601,410.95 |
|
Long-term Loan |
455,428,560.00 |
519,571,360.00 |
|
Other Non-current Liabilities |
168,723,556.68 |
186,693,615.08 |
|
Total Liabilities |
1,067,902,230.08 |
1,129,866,386.03 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and fully paid share
capital 1,810,000 shares |
181,000,000.00 |
181,000,000.00 |
|
|
|
|
|
Capital Paid |
160,000,000.00 |
139,000,000.00 |
|
Retained Earning - Unappropriated |
551,565,111.14 |
333,773,392.41 |
|
Total Shareholders' Equity |
711,565,111.14 |
472,773,392.41 |
|
Total Liabilities & Shareholders' Equity |
1,779,467,341.22 |
1,602,639,778.44 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales |
1,075,834,249.19 |
808,727,817.50 |
|
Other Income |
17,709,853.45 |
20,494,423.24 |
|
Total Revenues |
1,093,544,102.64 |
829,222,240.74 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
597,172,325.65 |
536,791,747.90 |
|
Selling Expenses |
97,764,405.79 |
115,591,773.39 |
|
Administrative Expenses |
139,239,753.92 |
78,306,782.01 |
|
Total Expenses |
834,176,485.36 |
730,690,303.30 |
|
|
|
|
|
Profit / Loss] before Financial Costs & Income Tax |
259,367,617.28 |
98,531,937.44 |
|
Financial Costs |
[41,144,936.86] |
[11,337,344.68] |
|
|
|
|
|
Profit / [Loss] before Income Tax |
218,222,680.42 |
87,194,592.76 |
|
Income Tax |
[430,961.69] |
[18,452,199.14] |
|
Net Profit / [Loss] |
217,791,718.73 |
68,742,393.62 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.42 |
1.08 |
|
QUICK RATIO |
TIMES |
0.90 |
0.45 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
0.96 |
0.72 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.60 |
0.50 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
134.43 |
156.38 |
|
INVENTORY TURNOVER |
TIMES |
2.72 |
2.33 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
134.03 |
84.55 |
|
RECEIVABLES TURNOVER |
TIMES |
2.72 |
4.32 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
93.33 |
167.49 |
|
CASH CONVERSION CYCLE |
DAYS |
175.13 |
73.45 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
55.51 |
66.37 |
|
SELLING & ADMINISTRATION |
% |
22.03 |
23.98 |
|
INTEREST |
% |
3.82 |
1.40 |
|
GROSS PROFIT MARGIN |
% |
46.14 |
36.16 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
24.11 |
12.18 |
|
NET PROFIT MARGIN |
% |
20.24 |
8.50 |
|
RETURN ON EQUITY |
% |
30.61 |
14.54 |
|
RETURN ON ASSET |
% |
12.24 |
4.29 |
|
EARNING PER SHARE |
BAHT |
136.12 |
49.45 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.60 |
0.71 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.50 |
2.39 |
|
TIME INTEREST EARNED |
TIMES |
6.30 |
8.69 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
33.03 |
|
|
OPERATING PROFIT |
% |
163.23 |
|
|
NET PROFIT |
% |
216.82 |
|
|
FIXED ASSETS |
% |
(0.54) |
|
|
TOTAL ASSETS |
% |
11.03 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
46.14 |
Impressive |
Industrial Average |
21.87 |
|
Net Profit Margin |
20.24 |
Impressive |
Industrial Average |
5.71 |
|
Return on Assets |
12.24 |
Impressive |
Industrial Average |
7.89 |
|
Return on Equity |
30.61 |
Impressive |
Industrial Average |
16.28 |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from revenues after accounting for the
cost of goods sold. Gross profit margin serves as the source for paying
additional expenses and future savings. Gross Profit Margin is 46.14%. When
compared with the industry average, the ratio of the company was higher. This
indicated that company was more profitable than the same industry.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. Net Profit Margin ratio is 20.24%,
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
12.24%, 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 30.61%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit in a
dominant position within its industry.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY RATIO
|
Current Ratio |
1.42 |
Satisfactory |
Industrial Average |
1.59 |
|
Quick Ratio |
0.90 |
|
|
|
|
Cash Conversion Cycle |
175.13 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets
are readily available to pay off its short-term liabilities. The company's
figure is 1.42 times in 2011, increase from 1.08 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was lower.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 0.9 times in 2011,
increase from 0.45 times, by excluding inventory, the company may have problems
meeting current liabilities.
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 176 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.60 |
Acceptable |
Industrial Average |
0.46 |
|
Debt to Equity Ratio |
1.50 |
Risky |
Industrial Average |
0.92 |
|
Times Interest Earned |
6.30 |
Impressive |
Industrial Average |
6.11 |
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 6.31 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 0.6 greater than 0.5, most of the
company's assets are financed through debt.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Downtrend
Times Interest Earned Uptrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
0.96 |
Deteriorated |
Industrial Average |
2.77 |
|
Total Assets Turnover |
0.60 |
Deteriorated |
Industrial Average |
1.37 |
|
Inventory Conversion Period |
134.43 |
|
|
|
|
Inventory Turnover |
2.72 |
Acceptable |
Industrial Average |
3.68 |
|
Receivables Conversion Period |
134.03 |
|
|
|
|
Receivables Turnover |
2.72 |
Satisfactory |
Industrial Average |
2.76 |
|
Payables Conversion Period |
93.33 |
|
|
|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.62 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.