MIRA INFORM REPORT
|
Report Date : |
19.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
TUSCO
TRAFO COMPANY LIMITED. |
|
|
|
|
Registered Office : |
612-612/1, 1888 Moo 4, Bangpoo Industrial Estate, Soi 8, 9a, Pattana 1 Road, Praeksa, Muang, Samutprakarn 10280 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
22.08.1996 |
|
|
|
|
Com. Reg. No.: |
0115539006410 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, distributor &
exporter of transformers |
|
|
|
|
No. of Employees : |
200 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but Correct |
|
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
TUSCO TRAFO COMPANY LIMITED.
SUMMARY
BUSINESS
ADDRESS : 612-612/1, 1888 MOO
4, BANGPOO INDUSTRIAL ESTATE,
SOI 8, 9A,
PATTANA 1 ROAD,
PRAEKSA, MUANG,
SAMUTPRAKARN 10280
TELEPHONE : [66] 2324-0100
FAX :
[66] 2324-0235,
2709-3733, 2324-0101
E-MAIL
ADDRESS : marketing@tuscotrafo.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1996
REGISTRATION
NO. : 0115539006410 [Former
: SOR POR. 7187]
TAX
ID NO. : 3271076927
CAPITAL REGISTERED : BHT. 625,000,000
CAPITAL PAID-UP : BHT
625,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
VISITH KOCHASITH, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 200
LINES
OF BUSINESS : TRANSFORMERS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on August
22, 1996 as
a private limited
company under the
name style TUSCO
TRAFO COMPANY LIMITED,
by Thai groups, in
order to manufacture
transformers for both
local and overseas
markets. The subject
is a member
of Tusco Group
of companies to
serve Thailand’s electrical
industry with electrical
components. It currently
employs approximate 200 staff.
The subject achieved
the international standard
ISO 9001:2000 certification
from SGS in
2001.
The subject’s registered
address is 612-612/1,
1888 Moo 4,
Bangpoo Industrial Estate,
Soi 8, 9A,
Pattana 1 Rd.,
Praeksa, Muang, Samutprakarn
10280, and this
is the company’s
current operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Visith Kochasith |
[x] |
Thai |
60 |
|
Mr. Sunthorn Kochasith |
|
Thai |
71 |
|
Mr. Vara Joohong |
|
Thai |
58 |
|
Mrs. Boonthip Sudprasert |
[x] |
Thai |
62 |
|
Ms. Nathakarn Kochasith |
|
Thai |
51 |
|
Ms. Vipatcha Kochasith |
|
Thai |
52 |
AUTHORIZED PERSON
One of the above
mentioned directors [x]
can sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Visith Kochasith
is the Managing
Director.
He is Thai
nationality with the
age of 60
years old.
Mr. Vara Joohong
is the Deputy
Managing Director.
He is Thai
nationality with the
age of 58
years old.
Mrs. Boonthip Sudprasert
is the Finance
& Accounting Manager.
She is Thai
nationality with the
age of 62
years old.
Mr. Sunthorn Kochasith
is the General
Manager.
He is Thai
nationality with the
age of 71
years old.
Mr. Somchai Eadjui
is the Plant
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The
subject is engaged
in manufacturing wide
range of transformers, ranging
from small to
large distributions. Its
products are included
as follows:
- Distribution transformer [30 kVA-30MVA up to
36 kV]
- Power
transformers [300 MVA
and 230 kV]
- Electric panels
-
Low voltage
[6300A, 400V]
-
Medium
voltage [630A, 36 kV]
- Switchboards
- Electric ladders
- Cable
trays
- Transformer components
The subject also
provides installation and
maintenance services of
the products.
PRODUCTION CAPACITY
With the company’s
installed capacity, it can
manufacture up to 85,000 kVA
monthly basis or
up to 1,000 MVA
annually.
MAJOR BRAND
“TUSCO TRAFO”
PURCHASE
Raw materials and
components are purchased
from both local
and overseas suppliers
in United States
of America, Germany,
Taiwan, Republic of
China and Singapore.
MAJOR SUPPLIERS
Tusco Copper Corporation
Co., Ltd. : Thailand
Thai Corrugate Co.,
Ltd. : Thailand
T.P.S. Engineering Co.,
Ltd. : Thailand
SALE
The products are
sold directly to
end-users, Government and States
Enterprise, and private sectors,
as well as exported to
Japan, Singapore, Hong
Kong, South Africa,
Korea, Taiwan, Nepal, Laos, Philippines, Republic of China, Malaysia,
Indonesia, Cambodia, Namibia,
Australia, Qatar, U.A.E.
and etc., with
over 36 countries.
MAJOR CUSTOMERS
Electricity Generating Authority
of Thailand :
Thailand
Provincial Electricity Authority : Thailand
Metropolitan Electricity Authority : Thailand
Royal Thai Navy : Thailand
The Royal Irrigation
Department : Thailand
SUBSIDIARY AND AFFILIATED
COMPANIES
TUSCO Group :
Thai Union Switchboard
Co., Ltd.
Business Type : Manufacturer
of distribution panels
and switchboards
Tusco Energy Co.,
Ltd.
Business Type : Engineering,
installation service for HV substation
& renewable energy
business.
Bothong Windfarm Co.,
Ltd.
Business Type : Own
wind energy service
provider.
Tusco Copper Corporation
Co., Ltd.
Business Type : Manufacturer
& distributor of
copper conductor for
transformer.
Thai Corrugate Co., Ltd.
Business Type : Manufacturer
& distributor of corrugated
walls & tanks
for transformers.
T.P.S. Engineering Co., Ltd.
Business Type : Manufacturer
& distributor of
accessories for transformer.
TES Technology Co.,
Ltd.
Business Type : Special
design & engineering
for transformer.
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
& T/T.
Exports are against
L/C at sight
& T/T.
BUSINESS TRANSACTION
The products are
sold and serviced
to customers by both
cash and credit,
with the maximum
credit given at
30-60 days. The subject is not found to have problem
on its account
receivable.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok 10500]
Kasikornbank Public Co.,
Ltd.
[Head Office
: 1 Kasikorn
Lane, Rajburana Rd.,
Rajburana, Bangkok 10140]
EMPLOYMENT
The subject employs
approximately 200 office
staff and factory
workers.
LOCATION DETAILS
The premise is
rented for administrative office,
factory and warehouse
at the heading
address. Premise is
located in an
industrial area.
COMMENT
The subject is one
of the
leading manufacturers of
power and distribution
transformers in Thailand. It
provides power and
distribution transformers of all sizes
and specifications to
meet all standards
and the most
stringent requirements. Together
with the long
experience and know-how
in manufacturing transformer since
1981, the company
is able to
provide highest quality
products to any
types of needs.
Subject still maintains
solid operation and
expanding steadily.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 100,000,000 divided
into 10,000,000 shares
of Bht. 10
each.
The capital was
increased later as
follows:
Bht. 120,000,000
on June 23,
2005
Bht. 200,000,000
on June 3,
2008
Bht. 270,000,000
on February 17,
2009
Bht. 625,000,000
on June 16,
2011
The latest registered
capital was increased
to Bht. 625,000,000
divided into 62,500,000
shares of Bht.
10 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 28,
2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Tusco Copper Corporation
Co., Ltd. Nationality: Thai Address : 1888
Moo 4, Pattana
1 Rd., Praeksa,
Muang, Samutprakarn |
20,600,000 |
32.96 |
|
Mr. Visith Kochasith Nationality: Thai Address : 1921
Moo 8, Teparak,
Muang, Samutprakarn |
18,000,000 |
28.80 |
|
Thai Corrugate Co., Ltd. Nationality: Thai Address : 612
Moo 4, Soi
8A, Pattana 1 Rd.,
Praeksa, Muang, Samutprakarn |
6,300,000 |
10.08 |
|
Ms. Vipatcha Kochasith Nationality: Thai Address : 80/439
Moo 5, Bangmuangmai, Muang,
Samutprakarn |
5,060,000 |
8.10 |
|
T.P.S. Engineering Co.,
Ltd. Nationality: Thai Address : 1876
Moo 8, Theparak
Rd., Theparak, Muang,
Samutprakarn |
3,300,000 |
5.28 |
|
Mrs. Boonthip Sudprasert Nationality: Thai Address : 80/439
Moo 5, Bangmuangmai, Muang,
Samutprakarn |
3,000,000 |
4.80 |
|
Thai Union Switchboard
Co., Ltd. Nationality: Thai Address : 612/1
Moo 4, Pattana 1 Rd., Praeksa, Muang, Samutprakarn |
2,000,000 |
3.20 |
|
|
|
|
|
Mr. Sunthorn Kochasith Nationality: Thai Address : 254
Moo 5, Bangpueng,
Phrapadaeng, Samutprakarn |
1,000,000 |
1.60 |
|
Mr. Sonthi Kochasith Nationality: Thai Address : 2/4
Moo 7, Klongluang, Pathumthani
|
1,000,000 |
1.60 |
|
Mrs. Supanee Pakarat
Nationality: Thai Address : 429/1
Sukhumvit 22 Rd.,
Klongton, Klongtoey, Bangkok
10110 |
1,000,000 |
1.60 |
|
Ms. Nathakarn Kochasith Nationality: Thai Address : 429/1
Sukhumvit 22 Rd.,
Klongton,
Klongtoey, Bangkok 10110 |
800,000 |
1.28 |
|
Others |
440,000 |
0.70 |
Total Shareholders : 18
Share Structure [as
at April 28,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
18 |
62,500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
18 |
62,500,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Suwit Wannasirisuk No.
4742
BALANCE SHEET
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash in hand
& at Bank |
8,117,046 |
6,252,253 |
|
Trade Account Receivable |
170,269,581 |
402,431,260 |
|
Other Receivable |
112,011,790 |
85,152,815 |
|
Short-term Lending |
63,740,711 |
30,733,389 |
|
Inventories |
342,398,528 |
329,781,362 |
|
Revenue Department Receivable |
17,927,717 |
37,444,057 |
|
Other Current Assets |
7,541,613 |
18,638,458 |
|
|
|
|
|
Total Current Assets
|
722,006,986 |
910,433,594 |
|
Cash at Bank
Pledged as a
Collateral |
25,546,396 |
29,087,216 |
|
Investment in Subsidiaries |
169,579,316 |
215,329,316 |
|
Investment in Associated Company |
60,000,000 |
60,000,000 |
|
Fixed Assets |
963,685,879 |
1,052,240,365 |
|
Advance Payment for Machinery |
7,645,328 |
6,912,220 |
|
Computer Programme |
2,459,477 |
3,247,659 |
|
Other Non-current Assets |
7,111,617 |
8,621,476 |
|
Total Assets |
1,958,034,999 |
2,285,871,846 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
|
2011 |
2010 |
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial Institution |
502,745,147 |
478,031,452 |
|
Trade Account Payable |
189,891,286 |
474,111,576 |
|
Other Payable |
111,473,839 |
98,370,248 |
|
Current Portion of
Long-term Loan from Financial |
149,287,168 |
163,555,891 |
|
Long-term Loans of Current
Liabilities |
162,254,494 |
- |
|
Current Portion of
Long-term Loan from Other Company |
13,914,943 |
9,031,292 |
|
Current Portion of
Financial Lease Contract Liabilities |
3,198,710 |
5,651,456 |
|
Current Portion of Pre-receipt-Rental
Income |
2,892,000 |
2,892,000 |
|
Short-term Loan |
151,342,113 |
104,669,513 |
|
Purchase from Investment
Payable |
101,485,329 |
106,330,997 |
|
Pre-received Deposit for
Goods |
105,622,592 |
106,293,059 |
|
Accrued Dividend |
- |
11,430,000 |
|
Other Current Liabilities |
840,683 |
1,807,241 |
|
|
|
|
|
Total Current Liabilities |
1,494,948,304 |
1,562,174,725 |
|
Long-term Loan from Financial
Institution |
116,383,887 |
339,435,994 |
|
Long-term Loans from Other Company
|
18,553,257 |
27,093,876 |
|
Financial Lease Contract Liabilities |
2,832,601 |
6,035,147 |
|
Pre-received - Rental Income |
33,316,000 |
36,208,000 |
|
Employee Benefits Obligation |
9,733,917 |
- |
|
Total Liabilities |
1,675,767,966 |
1,970,947,742 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 62,500,000 &
32,000,000 shares in
2011 & 2010
respectively |
625,000,000 |
320,000,000 |
|
|
|
|
|
Capital Paid |
625,000,000 |
320,000,000 |
|
Less: Shares Receivable |
[236,123,382] |
[32,560,241] |
|
Retained Earning Appropriated for
Statutory Reserve |
5,100,000 |
5,100,000 |
|
Unappropriated |
[111,709,585] |
22,384,345 |
|
Total Shareholders' Equity |
282,267,033 |
314,924,104 |
|
Total Liabilities &
Shareholders' Equity |
1,958,034,999 |
2,285,871,846 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales Income |
826,245,240 |
1,187,510,665 |
|
Management Income |
29,400,000 |
31,190,757 |
|
Discount Income |
- |
22,610,976 |
|
Gain on Exchange Rate |
1,444,081 |
26,309,613 |
|
Other Income |
49,992,719 |
34,461,709 |
|
Total Revenues |
907,082,040 |
1,302,083,720 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
693,868,477 |
1,045,785,561 |
|
Selling Expenses |
45,022,612 |
38,346,589 |
|
Administrative Expenses |
159,130,642 |
118,402,614 |
|
Loss on Diminution
of Investment |
45,750,000 |
- |
|
Total Expenses |
943,771,731 |
1,202,534,764 |
|
|
|
|
|
Profit / [loss] before
Financial Cost & Income Tax |
[36,689,691] |
99,548,956 |
|
Financial Cost |
[97,404,239] |
[86,919,272] |
|
Profit / [loss] before Income
Tax |
[134,093,930] |
12,629,684 |
|
Income Tax |
- |
[4,458,129] |
|
Net Profit / [Loss] |
[134,093,930] |
8,171,555 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
0.48 |
0.58 |
|
QUICK RATIO |
TIMES |
0.24 |
0.34 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
0.86 |
1.13 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.42 |
0.52 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
180.11 |
115.10 |
|
INVENTORY TURNOVER |
TIMES |
2.03 |
3.17 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
75.22 |
123.69 |
|
RECEIVABLES TURNOVER |
TIMES |
4.85 |
2.95 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
99.89 |
165.47 |
|
CASH CONVERSION CYCLE |
DAYS |
155.44 |
73.32 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
83.98 |
88.07 |
|
SELLING & ADMINISTRATION |
% |
24.71 |
13.20 |
|
INTEREST |
% |
11.79 |
7.32 |
|
GROSS PROFIT MARGIN |
% |
25.81 |
21.58 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(4.44) |
8.38 |
|
NET PROFIT MARGIN |
% |
(16.23) |
0.69 |
|
RETURN ON EQUITY |
% |
(47.51) |
2.59 |
|
RETURN ON ASSET |
% |
(6.85) |
0.36 |
|
EARNING PER SHARE |
BAHT |
(2.15) |
0.26 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.86 |
0.86 |
|
DEBT TO EQUITY RATIO |
TIMES |
5.94 |
6.26 |
|
TIME INTEREST EARNED |
TIMES |
(0.38) |
1.15 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
(30.42) |
|
|
OPERATING PROFIT |
% |
(136.86) |
|
|
NET PROFIT |
% |
(1,740.98) |
|
|
FIXED ASSETS |
% |
(8.42) |
|
|
TOTAL ASSETS |
% |
(14.34) |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
25.81 |
Impressive |
Industrial
Average |
17.68 |
|
Net Profit Margin |
(16.23) |
Deteriorated |
Industrial
Average |
3.83 |
|
Return on Assets |
(6.85) |
Deteriorated |
Industrial
Average |
3.86 |
|
Return on Equity |
(47.51) |
Deteriorated |
Industrial
Average |
6.07 |
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 25.81%. 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 -16.23%.
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 -6.85%.
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 -47.51%.
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 |
0.48 |
Risky |
Industrial
Average |
1.59 |
|
Quick Ratio |
0.24 |
|
|
|
|
Cash Conversion Cycle |
155.44 |
|
|
|
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 0.48 times in 2011, decreased from 0.58 times, then the company may
not be efficiently using its current assets. 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 0.24 times in 2011,
decreased from 0.34 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 156 days.
Trend of the average
competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.86 |
Acceptable |
Industrial
Average |
0.46 |
|
Debt to Equity Ratio |
5.94 |
Risky |
Industrial
Average |
0.70 |
|
Times Interest Earned |
(0.38) |
Risky |
Industrial
Average |
8.03 |
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 -0.38 lower than 1, so the company is not generating
enough cash from EBIT to meet its
interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.86 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 |
0.86 |
Deteriorated |
Industrial
Average |
2.21 |
|
Total Assets Turnover |
0.42 |
Deteriorated |
Industrial Average |
0.90 |
|
Inventory Conversion Period |
180.11 |
|
|
|
|
Inventory Turnover |
2.03 |
Acceptable |
Industrial
Average |
2.80 |
|
Receivables Conversion Period |
75.22 |
|
|
|
|
Receivables Turnover |
4.85 |
Impressive |
Industrial
Average |
3.28 |
|
Payables Conversion Period |
99.89 |
|
|
|
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.52.96 |
|
UK Pound |
1 |
Rs.85.45 |
|
Euro |
1 |
Rs.69.46 |
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.