MIRA INFORM REPORT
|
Report Date : |
18.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
BANGKOK
CABLE CO., LTD. |
|
|
|
|
Registered Office : |
2nd , 3rd Floor, Bangkok
Cable Building, 187/1 Rajdamri
Road, Lumpini, Pathumwan, Bangkok 10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
07.03.1974 |
|
|
|
|
Com. Reg. No.: |
0105517002853 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, distributer & exporter of wires & cables |
|
|
|
|
No. of Employees : |
550 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 |
|
Maximum Credit Limit : |
US$ 15,000,000 |
|
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) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
thailand - 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
BANGKOK CABLE CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 2nd , 3rd FLOOR,
BANGKOK CABLE BUILDING,
187/1 RAJDAMRI
ROAD, LUMPINI, PATHUMWAN, BANGKOK 10330
TELEPHONE : [66] 2254-4550-9,
2651-9252-6
FAX :
[66] 2253-5973,
2253-6028
E-MAIL
ADDRESS : sales@bangkokcable.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1974
REGISTRATION
NO. : 0105517002853
TAX
ID NO. : 3101061840
CAPITAL REGISTERED : BHT. 1,300,000,000
CAPITAL PAID-UP : BHT.
1,300,000,000
SHAREHOLDER’S PROPORTION : THAI : 100 %
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SOMPONG NAKORNSRI, THAI
PRESIDENT &
CHIEF EXECEUTIVE OFFICER
NO.
OF STAFF : 550
LINES
OF BUSINESS : WIRES
& CABLES
MANUFACTURER, DISTRIBUTER
& 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 March 7,
1974 as a
private limited company under the name
style BANGKOK ELECTRIC
WIRE AND CABLE
CO., LTD. by Thai
executives and engineers, with the
business objective to
produce and distribute
copper insulated wire
and cable. Its
factories are located
on 57,600 square meters
and 345,600 square meters
of land in
Samutprakarn and Chachoengsao
provinces respectively. On
August 29, 1975,
the subject’s name was
changed to BANGKOK
CABLE CO., LTD. It
currently employs 550
staff.
In 1996 the
subject was granted
ISO 9002 quality
certificate by RWTV.
In 1997 the subject was
granted TIS, ISO 9002
quality certificate by
Thai Industrial Standard
Institute.
The subject’s registered
address is 2nd, 3rd Flr.,
Bangkok Cable Bldg., 187/1
Rajdamri Rd., Lumpini,
Pathumwan, Bangkok 10330,
and this is
the company’s current
operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sompong Nakornsri |
[x] |
Thai |
77 |
|
Mrs. Thippa Nakornsri |
[x] |
Thai |
76 |
|
Mr. Termsakdi Honghiran |
|
Thai |
64 |
|
Mrs. Kantika Preechaharn |
[x] |
Thai |
50 |
|
Mrs. Thitinan Nakornsri |
|
Thai |
47 |
|
Mr. Thisaphol Nakornsri |
|
Thai |
39 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Sompong Nakornsri
is the President
& Chief Executive
Officer.
He is Thai
nationality with the
age of 77
years old. He
has 38 years experience in Electric
Cable Business. He is
also the Chairman
of Hitachi Bangkok
Cable Co., Ltd.
Mr. Athikom Thongnamtako is
the Senior Executive
Vice President.
He is Thai
nationality with the
age of 82
years old. He
has 23 years
experience in Electric Cable
Industry, 9 years
in Banking and
Finance business and
9 years in
Life & General Insurance
Industry.
Mr. Termsakdi Honghiran
is the Vice
President.
He is Thai
nationality with the
age of 64
years old. He has
31 years experience in Electric
cable Industry. Currently,
he is also
the Marketing Director
of Hitachi Bangkok
Cable Co., Ltd.
Mr. Anuchart Preechanont
is the Assistant
Vice President.
He is Thai
nationality with age
of 67 years
old. He has
34 years experience in electric
cable industry.
Mr. Thisaphol Nakornsri
is the Assistant
Vice President.
He is Thai
nationality with age of
39 years old.
Mrs. Kantika Preechaharn
is the Account
& Finance Director.
She is Thai
nationality with the
age of 50
years old.
Mrs. Thitinan Jantarasamee is
the Executive Director.
She is Thai
nationality with the
age of 47
years old.
Mr. Pairin Kwangvithayanond is
the Sales Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged
in manufacturing various
kinds of copper
wire and cable including high / medium / low voltage
power cables, control
cables and bare
conductors, flexible wires
and cables, low
smoke halogen free,
fire resistant and
flame retardant cables.
MAJOR BRAND
“BANGKOK CABLE”
PRODUCTS
Copper Wire and
Cable
1. Building Wire and Cable
2. High/Medium/Low Voltage Power
Cable
3. Control Cable
4. Bare Conductor
5. Flexible wire and cable
Total Capacity 100,000 tons/year
Aluminium Wire and Cable
1. Bare Conductor
-AAC Cable
-ACSR Cable
2. Low Voltage Cable 0-1000 Volt
-Nay Cable
-THW-A Cable
-AWV Cable
3. Medium Voltage Cable 7-35 KV
-PIC Cable
-SAC Cable
Total Capacity 25,000 tons/year
PURCHASE
Raw materials such
as copper cathodes,
aluminum ingots and
etc., are purchased
from more than 30
suppliers both domestic
and overseas in
Japan, Republic of
China, Taiwan, Chile,
Australia and Canada.
MAJOR SUPPLIERS
Mitsubishi, Japan
Products: Aluminum &
copper
Thai Plastic &
Chemical Public Co., Ltd.,
Thailand
Products: PVC resin
Codelco Ltd., Chile
Products : Aluminum & copper
Mitsui Corporation, Japan
Products : Aluminum & copper
Tomago Aluminium [Bellbay]
Ltd., Canada
Products : Aluminum & copper
Sumitomo Corp. [Thailand]
Ltd., Thailand
Products : Aluminum
DISTRIBUTION
The subject’s products
are distributed to
approximately 70 customers
both domestic and
overseas markets, by 80%
of its
products is sold
directly to wholesalers.
The subject maintains around 50 clients
comprising dealers, contractors
and the states
enterprises in Thailand, the
remaining 20% is exported to around 20
customers in Philippines,
Bangladesh, Laos, Vietnam, Malaysia,
Singapore, India and
Australia.
MAJOR CUSTOMERS
Provincial Electricity Authority
Metropolitan Electricity Authority
Electricity Generating Authority
of Thailand
TOT Corporation Public
Co., Ltd.
B & K Innovation Technology
Co., Ltd.
Athens Electrical Products
Co., Ltd.
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.
SUBSIDIARIES AND AFFILIATED COMPANIES
It is found
the subject has
subsidiaries and affiliated
company as follows:
Indra Industrial Park
Co., Ltd.
Business Type: Properties
Investment : The subject
is holding around
65% of the total shares.
JOINT VENTURE COMPANIES
Hitachi Bangkok Cable Co., Ltd.
Business Type : Manufacturer
of telephone cable
Investment : The
subject is holding
around 40% of the
total shares.
Tawana Container Co., Ltd.
Business Type : Manufacturer
of corrugated paper
container
Investment : The
subject is holding
around 37.50% of the
total shares.
Thai Copper Rod
Co., Ltd.
Business Type : Manufacturer
of copper rod
Investment : The
subject is holding
around 30% of the
total shares.
Bangkok Polyester Public
Co., Ltd.
Business Type : Manufacturer
of PVC resin
for PET bottles
Investment : The
subject is holding
around 30% of the total shares.
Bangkok Solar Co.,
Ltd.
Business Type : Manufacturer
of solar cell
products
Other Companies
Thai Hitachi Enamel
Wire Co., Ltd.
Business Type : Manufacturer
of enamel wire
Investment : The
subject is holding
around 14.16% of the
total shares.
Thai Refrigeration Component
Co., Ltd.
Business Type : Manufacturer
of refrigeration components
Investment : The
subject is holding
around 10% of
the total shares.
Thai Kyowa Engineering
Co., Ltd.
Business Type : Telecommunication system
construction
Investment : The
subject is holding around 9.98%
of the total
shares.
Kotobuki Di-Casting [Thailand]
Co., Ltd.
Business Type : Metal
press parts
Investment : The
subject t is holding around
9.09% of the
total shares.
Thai Wire and
Cable Services Co., Ltd.
Business Type : Electric appliance’s
wires
Investment : The
subject is holding
around 6.66% of
the total shares.
Thai CRT Co., Ltd.
Business Type : Manufacturer of
colour picture tube
Investment : The
subject is holding
around 0.85% of the
total shares.
CREDIT
The subject sells
for 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 on the credit term
of 60 days
or D/P at
sight & T/T on the
credit term of
30 days.
Exports are against
L/C at sight & T/T.
BUSINESS TRANSACTION
In term of
sales, the products
are sold mainly
to local customers
with the maximum
credit given at
60 days, and the remaining to
overseas customers by L/C or
T/T on 30-90
days. The subject
is found to have no
problem on its
account receivable. For
the import, the
subject has no
default payment due to
the products are
purchased mainly by
L/C at sight
and occasionally by
D/P or T/T
on 30 days
term.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office : 333 Silom
Rd., Bangrak, Bangkok
10500]
[Hualampong Branch : 227
Rama 4 Rd.,
Rongmuang, Pathumwan, Bangkok
10330]
Kasikornbank Public Co.,
Ltd.
Krung Thai Bank
Public Co., Ltd.
EMPLOYMENT
The subject employs
approximately 550 staff. [office, sales
staff and factory
workers]
LOCATION DETAILS
The premise is
rented for administrative office
in a multi-storey
building, at the
heading address. The
premise is located
in a prime
commercial area.
Factory I : 93 Moo 11
Soi Cable, Suksawad
Road, A. Prasamutchadee,
Samutprakarn
10290, on the
area of 57,600
sq.meters.
Tel: [66]
2815-6291-5, Fax: [66]
2815-6296.
Factory II : 39/1
Moo 1, Bangpakong-Chachoengsao Rd.,
T. Saenpudast,
A.
Banpho,
Chachoengsao 24140, on
the area of
345,600 sq.m.,
Tel: [66]
38 577-266-9, Fax: [66]
38 577-270-1.
REMARK
MAXIMUM CREDIT OF
US$ 15,000,000 SHOULD
BE IN ORDER.
COMMENT
The subject is the country’s leading manufacturer of wire and cables and
considered an experience player in the industry.
With
an eye to the future
the company strive to maintain
the highest standards of quality. Production procedure reflects a
continuing commitment to the
latest high technology and
sophisticated machineries as
well as increasing of production to cope with
the rapid growth
industries.
The country’s economic expansion
has resulted in the
rising demand for
electric wire in
the year 2012.
FINANCIAL INFORMATION
The capital was
initially registered at Bht.
5,000,000, divided into
5,000 shares of
Bht. 1,000 each.
The capital was
increased later as
followings:
Bht. 100,000,000 on
February 6, 1989
Bht. 200,000,000 on
December 28, 1992
Bht. 500,000,000 on
March 27, 1995
Bht. 800,000,000 on
August 28, 1997
Bht. 1,300,000,000
on November 24,
1999
The latest registered
capital was increased
to Bht. 1,300,000,000 divided
into 13,000,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 27,
2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Thippa Nakornsri Nationality : Thai Address : 990/1 Soi
Suanplu, Nanglinchee Rd.,
Thungmahamek, Sathorn, Bangkok
10120 |
6,400,000 |
49.23 |
|
Mr. Sompong Nakornsri Nationality : Thai Address : 187/1 Rajdamri
Rd., Lumpini, Pathumwan, Bangkok 10330 |
1,600,000 |
12.31 |
|
Mrs. Thitinan Nakornsri
Nationality : Thai Address : 89 Soi Ruamruedee., Lumpini,
Pathumwan, Bangkok 10330 |
1,600,000 |
12.31 |
|
Mr. Thisaphol Nakornsri
Nationality : Thai Address : 231/7 Rajdamri
Rd., Lumpini, Pathumwan, Bangkok 10330 |
1,600,000 |
12.31 |
|
Mrs. Kantika Preechaharn Nationality : Thai Address : 187/1 Rajdamri
Rd., Lumpini, Pathumwan, Bangkok 10330 |
1,599,999 |
12.30 |
|
Mr. Termsakdi Honghiran Nationality : Thai Address : 9 Ramkhamhaeng 22
Rd., Huamark, Bangkapi, Bangkok
10240 |
200,000 |
1.54 |
|
Mr. Tachpol Preechaharn Nationality : Thai Address : 84/1 Moo
3, Ngamwongwan Rd.,
Ladyao,
Bangkhen, Bangkok 10900 |
1 |
100 |
Total Shareholders : 7
Share Structure [as
at April 27,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
13,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
13,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Sureerat
Thong-aroonsaeng No. 4409
BALANCE SHEET [BAHT]
The latest financial figures published for December 31, 2011 & 2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and Cash Equivalents |
253,896,357 |
168,234,592 |
|
Trade Accounts Receivable |
2,488,384,785 |
1,755,828,173 |
|
Other Receivable - Related
Company |
13,043,611 |
20,000,937 |
|
Inventories |
1,254,366,921 |
1,708,125,625 |
|
Other Current Assets
|
7,216,621 |
4,700,446 |
|
|
|
|
|
Total Current Assets
|
4,016,908,295 |
3,656,889,773 |
|
Investment in Subsidiary |
1,339,784,970 |
999,232,999 |
|
Investment in Associated
Company |
197,366,321 |
394,702,631 |
|
Other Long-term Investment |
85,800,003 |
95,799,703 |
|
Long-term Lending |
499,285,000 |
429,285,000 |
|
Real Estate for Investment |
55,938,344 |
57,276,902 |
|
Fixed Assets |
757,219,676 |
645,578,858 |
|
Intangible Assets |
55,054,427 |
47,632,234 |
|
Other Non-current Assets |
23,300 |
123,500 |
|
Total Assets |
7,007,380,336 |
6,326,521,600 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institution |
855,943,163 |
651,535,664 |
|
Trade Accounts Payable |
221,491,145 |
591,662,927 |
|
Current Portion of Long-term
Loan from Financial Institution |
106,771,000 |
11,676,000 |
|
Accrued Income Tax |
120,607,780 |
125,810,621 |
|
Other Current Liabilities |
164,354,077 |
85,080,234 |
|
|
|
|
|
Total Current Liabilities |
1,469,164,165 |
1,465,765,446 |
|
Long-term loan from
Financial Institution |
200,262,000 |
7,033,000 |
|
Estimated Long-term Liabilities |
15,761,467 |
- |
|
Other Non-current Liabilities |
8,857,000 |
8,857,000 |
|
Total Liabilities |
1,694,044,632 |
1,481,655,446 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 13,000,000 shares |
1,300,000,000 |
1,300,000,000 |
|
|
|
|
|
Capital Paid |
1,300,000,000 |
1,300,000,000 |
|
Retained Earning Appropriated for
Statutory Reserve
|
130,000,000 |
130,000,000 |
|
Unappropriated [Deficit] |
3,883,335,704 |
3,414,866,154 |
|
Total Shareholders' Equity |
5,313,335,704 |
4,844,866,154 |
|
Total Liabilities &
Shareholders' Equity |
7,007,380,336 |
6,326,521,600 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales & Services
Income |
8,498,151,198 |
6,424,332,007 |
|
Gain on Exchange Rate |
19,003,555 |
33,299,245 |
|
Other Income |
122,591,264 |
182,797,156 |
|
Total Revenues |
8,639,746,017 |
6,640,428,408 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
7,492,714,906 |
5,635,754,117 |
|
Selling Expenses |
99,791,340 |
95,445,277 |
|
Administrative Expenses |
157,755,937 |
88,704,836 |
|
Loss from Diminution
of Investment in Subsidiary &
Associated Company |
133,654,950 |
- |
|
Total Expenses |
7,883,917,133 |
5,819,904,180 |
|
|
|
|
|
Profit before Finance Cost
& Income Tax |
755,828,884 |
820,524,228 |
|
Finance Cost |
[33,747,769] |
[28,186,622] |
|
|
|
|
|
Profit before Income Tax |
722,081,115 |
792,337,606 |
|
Income Tax |
[253,611,565] |
[233,946,652] |
|
|
|
|
|
Net Profit / [Loss] |
468,469,550 |
558,390,954 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
2.73 |
2.49 |
|
QUICK RATIO |
TIMES |
1.88 |
1.33 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
11.22 |
9.95 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.21 |
1.02 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
61.11 |
110.63 |
|
INVENTORY TURNOVER |
TIMES |
5.97 |
3.30 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
106.88 |
99.76 |
|
RECEIVABLES TURNOVER |
TIMES |
3.42 |
3.66 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
10.79 |
38.32 |
|
CASH CONVERSION CYCLE |
DAYS |
157.19 |
172.07 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
88.17 |
87.73 |
|
SELLING & ADMINISTRATION |
% |
3.03 |
2.87 |
|
INTEREST |
% |
0.40 |
0.44 |
|
GROSS PROFIT MARGIN |
% |
13.50 |
15.64 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
8.89 |
12.77 |
|
NET PROFIT MARGIN |
% |
5.51 |
8.69 |
|
RETURN ON EQUITY |
% |
8.82 |
11.53 |
|
RETURN ON ASSET |
% |
6.69 |
8.83 |
|
EARNING PER SHARE |
BAHT |
36.04 |
42.95 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.24 |
0.23 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.32 |
0.31 |
|
TIME INTEREST EARNED |
TIMES |
22.40 |
29.11 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
32.28 |
|
|
OPERATING PROFIT |
% |
(7.88) |
|
|
NET PROFIT |
% |
(16.10) |
|
|
FIXED ASSETS |
% |
17.29 |
|
|
TOTAL ASSETS |
% |
10.76 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
13.50 |
Impressive |
Industrial
Average |
11.99 |
|
Net Profit Margin |
5.51 |
Impressive |
Industrial
Average |
4.31 |
|
Return on Assets |
6.69 |
Impressive |
Industrial
Average |
4.13 |
|
Return on Equity |
8.82 |
Impressive |
Industrial
Average |
5.26 |
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 13.5%. 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 5.51%,
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 6.69%, 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 8.82%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY RATIO
|
Current Ratio |
2.73 |
Satisfactory |
Industrial
Average |
3.29 |
|
Quick Ratio |
1.88 |
|
|
|
|
Cash Conversion Cycle |
157.19 |
|
|
|
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 2.73 times in 2011, increased from 2.49 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 1.88 times in 2011,
increased from 1.33 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 158 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.24 |
Impressive |
Industrial
Average |
0.25 |
|
Debt to Equity Ratio |
0.32 |
Impressive |
Industrial
Average |
0.30 |
|
Times Interest Earned |
22.40 |
Impressive |
Industrial
Average |
9.63 |
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 22.4 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 0.24 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 |
11.22 |
Impressive |
Industrial
Average |
3.18 |
|
Total Assets Turnover |
1.21 |
Impressive |
Industrial
Average |
1.04 |
|
Inventory Conversion Period |
61.11 |
|
|
|
|
Inventory Turnover |
5.97 |
Impressive |
Industrial
Average |
5.08 |
|
Receivables Conversion Period |
106.88 |
|
|
|
|
Receivables Turnover |
3.42 |
Impressive |
Industrial
Average |
3.09 |
|
Payables Conversion Period |
10.79 |
|
|
|
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.52.75 |
|
UK Pound |
1 |
Rs.85.08 |
|
Euro |
1 |
Rs.69.04 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.