MIRA INFORM REPORT
|
Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
BST ELASTOMERS
CO., LTD. |
|
|
|
|
Registered Office : |
22nd Floor, Sathorn City Tower, South Sathorn Road, Thungmahamek, Sathorn, Bangkok 10120 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1991 |
|
|
|
|
Com. Reg. No.: |
0105534004401 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor
& Exporter, Synthetic Rubber
Products |
|
|
|
|
No. of Employees : |
150 |
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 |
|
Status : |
Satisfactory |
|
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
BST
ELASTOMERS CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 22nd FLOOR,
SATHORN CITY TOWER,
175
SOUTH
SATHORN ROAD, THUNGMAHAMEK,
SATHORN,
BANGKOK 10120, THAILAND
TELEPHONE : [66] 2679-5120
FAX :
[66] 2679-5122
E-MAIL
ADDRESS : marketing_bste@bst.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1991
REGISTRATION
NO. : 0105534004401 [Former: 440/2534]
TAX
ID NO. : 3101957761
CAPITAL REGISTERED : BHT. 525,000,000
CAPITAL PAID-UP : BHT.
525,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : DR. PICHIT NITHIVASIN,
THAI
PRESIDENT
NO.
OF STAFF : 150
LINES
OF BUSINESS : SYNTHETIC RUBBER
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 January 16,
1991 as a
private limited company
under the registered
name BANGKOK ELASTOMERS CO.,
LTD., by Thai and
Foreign groups, with
the business objective
to manufacture and
supply synthetic rubber
products to both
local and overseas
markets.
On January 11,
1996, the subject’s
name was changed
to BST ELASTOMERS
CO., LTD.
At present, the
subject is a
wholly owned subsidiary
of Bangkok Synthetics
Co., Ltd.
It currently employs
150 staff.
Subject achieved awards
and certificates as
follows:
-
September
2000 : ISO
9002 Certification
-
August
2001 : ISO
14001 Certification
-
October
2002 : ISO
9001 Certification
-
November
2003 : TIS
18001 Certification
-
May
2004 : Outstanding
Company for Safety,
Occupational Health and Workplace
Environment (National Level) Award
-
July
2004 : Outstanding
Company for Labor
Welfare Provision Award
2004
-
December 2004
: TIS 17025 Certification.
The subject’s registered
address is 22nd Floor,
Sathorn City Tower,
175 South Sathorn
Rd., Thungmahamek, Sathorn, Bangkok 10120,
and this is
the subject’s current
operation address.
THE BOARD OF
DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Dr. Pichit Nithivasin |
|
Thai |
66 |
|
Mr. Pichai Nithivasin |
|
Thai |
69 |
|
Mr. Pichet Nithivasin |
|
Thai |
61 |
|
Mr. Supachol Nithivasin |
[x] |
Thai |
36 |
|
Mr. Apiporn Pasawat |
[x] |
Thai |
64 |
|
Mr. Rungroj Rangsiyopas |
[x] |
Thai |
- |
|
Mr. Oo Soon
Hee |
|
Singaporean |
69 |
|
Mr. Chaiyot Wongphyat |
[x] |
Thai |
62 |
|
Mr. Fu Kuo
Chen, David |
|
Singaporean |
51 |
|
Mrs. Suchada Sukapatthavorn |
[x] |
Thai |
51 |
|
Mr. Cholanat Yarnaranop |
[x] |
Thai |
57 |
|
Mr. Somchai Wangwattanapanich |
[x] |
Thai |
55 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can jointly sign
with one of
the rest directors
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Dr. Pichit Nithivasin is
the President.
He is Thai
nationality with the
age of 66
years old.
Mr. Chaiyot Wongphyat
is the Managing
Director.
He is Thai
nationality with the
age of 62
years old.
Mr. Vichit Thitiratsakul is
the Marketing &
Sales Manager and
Purchasing Manager.
He is Thai
nationality.
Mr. Viroj Lertsalak
is the Factory
Manager.
He is Thai
nationality.
Mr. Veerachai Sripetchasakul is
the Human Resource
Manager.
He is Thai
nationality.
Mrs. Nisa Sirimongkolkasem is
the Account &
Finance Manager.
She is Thai
nationality.
Mr. Sukkajit Pongcharoen
is the QC
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in manufacturing of synthetic
rubber products, specialized
in Butadiene Rubber [BR] and Styrene Butadiene Rubber
[SBR] used in many secondary
manufacturing industries, including
vehicle tires, shoes
soles, impact modified
plastic, rubber automotive component,
sports equipment such
as football, basketballs,
golf balls, rubber
toys and etc.
The productions are
as follows:
- Butadiene Rubber [BR];
BSTE BR 01,
BSTE BR 1220 and
BSTE BR 1220 S.
Production Capacity :
50,000 tonnes/year
- Styrene Butadiene Rubber
[SBR]; BSTE SBR 1500,
BSTE SBR 1502,
BSTE SBR 1712, and
BSTE SBR 1778
Production Capacity :
70,000 tonnes/year
The production technology
has been provided
by JSR Corporation
and Zeon Corporation
in Japan.
PURCHASE
Raw materials are
purchased from both
local and overseas
suppliers in Japan,
Germany, Malaysia, Republic
of China, Taiwan,
U.S.A., and Singapore.
MAJOR SUPPLIERS
Zeon Corporation : Japan
J S R Corporation : Japan
Bangkok Synthetics Co., Ltd. : Thailand
Mitsui & Co.
Ltd. : Thailand
Natsteel Chemical Co., Ltd. : Singapore
DISTRIBUTION
80% of its
products is sold
locally by wholesale
to manufacturers, and
the rest 20%
is exported to Japan, Singapore,
Taiwan, Republic of China, Malaysia,
South Korea, Indonesia, Vietnam,
Australia, India, Europe
and United States
of America.
MAJOR CUSTOMERS
J S R Corporation
Zeon Corporation
Bridgestone Group
Michelin Siam Co.,
Ltd.
S.R.T. Tyres Co., Ltd.
K.C. Sport and
Rubber Co., Ltd.
Siam Fugoku Co.,
Ltd.
Vee Rubber International
Co., Ltd.
PARENT COMPANY
Bangkok Synthetics Co., Ltd.
Business Type : Manufacturer of
petrochemical products
Address : 175
South Sathorn Rd.,
Thungmahamek, Sathorn, Bangkok
10120
SUBSIDIARY AND AFFILIATED
COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
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
according 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 to customers
by cash and
credit, with the maximum credit given at
30-60 days. The
subject is found
to have delay
payment by customers,
but they can negotiate.
BANKING
Krung Thai Bank
Public Co., Ltd.
[Head Office : 35 Sukhumvit Rd.,
Klongtoeynua, Wattana, Bangkok 10110]
The Siam Commercial
Bank Public Co.,
Ltd.
[Chidlom Office : 1060
New Petchburi Rd.,
Makkasan, Rajthevee, Bangkok 10400]
Bangkok Bank Public
Co., Ltd.
[Maptaphut Branch: 636/1
Moo 1, T. Maptaphut, A. Muang,
Rayong Province]
EMPLOYMENT
The subject currently
employs approximately 150
office staff and
factory workers.
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
Factory and warehouse
are located at
5/1 Maptaphut Industrial
Estate, I-7 Rd.,
T. Maptaphut, A. Muang, Rayong
21150. Tel: [66] 38
698-698, Fax: [66] 38 698-699.
Note:
On May 5,
2012, the blast occurred
at 3.20 p.m. at
a production unit
of BST. The
accident took place
while workers were
cleaning up the
production line with
toluene, and had
resulted about 1.5-1.7
billion baht in
damage. 12 people
were killed and 129
wounded in this
accident which nine were killed
in the explosion
at the factory,
the other three
died at hospital.
In July 2012,
the subject starts
to renovate its
machinery and related
equipment. The subject
expects to re-start
the production in
October 2012.
COMMENT
The
Company is the
largest producer of
mixedC4 products in the
Southeast Asian Region. BST
debuted commercial operations
in 1995 and expanded
its production capacity in 1998 to correspond to the
increasing demand in petrochemical
industry.
The Company’s products include Butadiene,
Butene-1, MTBE and C4 Raffinates.
These products are major
raw materials of
such downstream petrochemical industry
as the manufacturing of
synthetic rubbers and
plastic resins, which
are essential parts of our
daily life in
the form of
medical devices, food containers,
tires, shoes, auto parts, electric appliances,
sports equipment and
etc.
FINANCIAL INFORMATION
The
capital was initially registered at Bht. 1,000,000 divided
into 10,000 shares of
Bht. 100 each.
The capital was
increased later as
follows:
Bht. 250,000,000 on
November 1, 1996
Bht. 1,500,000,000 on
July 16, 1998
Bht. 1,800,000,000 on
December 11, 1998
Bht. 2,100,000,000 on
November 22, 1999
On September 27,
2004, the capital
was decreased to Bht.
525,000,000 divided into
21,000,000 shares of
Bht. 25 each
with fully paid.
THE SHAREHOLDERS LISTED WERE
: [as at
March 19, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Bangkok Synthetics Co., Ltd. Nationality: Thai Address : 175 South
Sathorn Rd., Thungmahamek,
Sathorn, Bangkok 10120 |
20,999,982 |
100.00 |
|
Dr. Pichit Nithivasin Nationality: Thai Address : 95/55 Moo
7, Suanyai, Muang,
Nonthaburi |
5 |
- |
|
Mr. Pichai Nithivasin Nationality: Thai Address : 109 Suapa
Rd., Pomprab, Bangkok |
5 |
- |
|
Mr. Pichet Nithivasin Nationality: Thai Address : 89/20-21 Wireless
Rd., Lumpinee,
Pathumwan, Bangkok |
5 |
- |
|
Mr. Chaiyot Wongphyat Nationality: Thai Address : 1213/316 Soi
Ladprao 94,
Wangthonglang, Bangkok |
1 |
- |
|
Mr. Jenchai Limwatanakoon Nationality: Thai Address : 273/28 Sathupradit
Rd., Chongnonsee,
Yannawa, Bangkok |
1 |
- |
|
Mr. Pranot Charoenlarp Nationality: Thai Address : 54 Moo 8,
Bangkaen, Bangplee, Samutprakarn |
1 |
- |
Total Shareholders : 7
Share Structure [as
at March 19,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
21,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
21,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Sureerat Thongaroonsaeng No.
4409
BALANCE SHEET [BAHT]
The
latest financial figures published
as at December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and Cash Equivalents |
5,795,981,648 |
2,286,021,875 |
|
Short-term Investment in Promissory Notes |
1,097,618,790 |
2,671,824,997 |
|
Trade Accounts Receivable - Related
Companies |
6,050,004 |
4,325,729 |
|
- Other
Companies |
1,406,247,395 |
854,651,579 |
|
Related Companies Receivable |
7,869,647 |
6,594,757 |
|
Inventories |
1,881,929,717 |
1,294,226,899 |
|
Refundable Value Added
Tax |
87,002,033 |
85,419,015 |
|
Other Current Assets
|
46,511,147 |
26,986,071 |
|
|
|
|
|
Total Current Assets
|
10,329,210,381 |
7,230,050,922 |
|
Fixed Deposit |
350,000,000 |
- |
|
Fixed Assets |
1,039,911,028 |
1,460,907,202 |
|
Intangible Assets |
101,231,951 |
130,557,824 |
|
Other Non-current Assets |
12,937,462 |
18,909,212 |
|
Total Assets |
11,833,290,822 |
8,840,425,160 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Trade Accounts Payable - Related
Companies |
691,556,702 |
596,794,746 |
|
- Other
Companies |
471,672,883 |
255,870,532 |
|
Related Companies Payable |
11,947,178 |
12,172,128 |
|
Accrued Bonus |
61,050,567 |
34,630,335 |
|
Accrued Income Tax |
268,790,365 |
65,922,654 |
|
Other Current Liabilities |
74,630,652 |
94,773,759 |
|
|
|
|
|
Total Current Liabilities |
1,579,648,347 |
1,060,164,154 |
|
Reserve for Employee Benefits |
36,717,177 |
- |
|
Deferred Acknowledge Income |
10,448,335 |
14,926,193 |
|
Total Liabilities |
1,626,813,859 |
1,075,090,347 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 25
par value authorized, issued
and fully paid share
capital 21,000,000 shares |
525,000,000 |
525,000,000 |
|
|
|
|
|
Capital Paid |
525,000,000 |
525,000,000 |
|
Retained Earning -
Unappropriated |
9,681,476,963 |
7,240,334,813 |
|
Total Shareholders' Equity |
10,206,476,963 |
7,762,334,813 |
|
Total Liabilities & Shareholders'
Equity |
11,833,290,822 |
8,840,425,160 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales |
16,060,892,733 |
10,418,693,149 |
|
Interest Income |
144,394,548 |
51,137,319 |
|
Gain on Exchange Rate |
39,992,527 |
- |
|
Other Income |
47,118,821 |
70,755,795 |
|
Total Revenues |
16,292,398,629 |
10,540,586,263 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
12,848,073,769 |
9,337,687,327 |
|
Selling Expenses |
321,733,504 |
308,206,515 |
|
Administrative Expenses |
174,529,003 |
152,025,609 |
|
Estimated Loss from
Diminution of Inventories |
548,141 |
377,612 |
|
Loss on Exchange Rate |
- |
21,103,705 |
|
Total Expenses |
13,344,884,417 |
9,819,400,768 |
|
Profit before Income Tax |
2,947,514,212 |
721,185,495 |
|
Income Tax |
[480,913,331] |
[98,122,948] |
|
|
|
|
|
Net Profit / [Loss] |
2,466,600,881 |
623,062,547 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
6.54 |
6.82 |
|
QUICK RATIO |
TIMES |
5.26 |
5.49 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
15.44 |
7.13 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.36 |
1.18 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
53.46 |
50.59 |
|
INVENTORY TURNOVER |
TIMES |
6.83 |
7.21 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
31.96 |
29.94 |
|
RECEIVABLES TURNOVER |
TIMES |
11.42 |
12.19 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
13.40 |
10.00 |
|
CASH CONVERSION CYCLE |
DAYS |
72.02 |
70.53 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
80.00 |
89.62 |
|
SELLING & ADMINISTRATION |
% |
3.09 |
4.42 |
|
INTEREST |
% |
- |
- |
|
GROSS PROFIT MARGIN |
% |
21.45 |
11.55 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
18.35 |
6.92 |
|
NET PROFIT MARGIN |
% |
15.36 |
5.98 |
|
RETURN ON EQUITY |
% |
24.17 |
8.03 |
|
RETURN ON ASSET |
% |
20.84 |
7.05 |
|
EARNING PER SHARE |
BAHT |
117.46 |
29.67 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.14 |
0.12 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.16 |
0.14 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
54.15 |
|
|
OPERATING PROFIT |
% |
308.70 |
|
|
NET PROFIT |
% |
295.88 |
|
|
FIXED ASSETS |
% |
(28.82) |
|
|
TOTAL ASSETS |
% |
33.85 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
21.45 |
Deteriorated |
Industrial
Average |
45.39 |
|
Net Profit Margin |
15.36 |
Deteriorated |
Industrial
Average |
32.03 |
|
Return on Assets |
20.84 |
Impressive |
Industrial
Average |
3.96 |
|
Return on Equity |
24.17 |
Impressive |
Industrial
Average |
7.50 |
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 21.45%. When
compared with the industry average, the ratio of the company was lower. This
indicated that company was originated from the problems with control over its
costs.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. The company's figure is 15.36%.
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. Return on Assets ratio is 20.84%, 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 24.17%, 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 |
6.54 |
Impressive |
Industrial
Average |
1.27 |
|
Quick Ratio |
5.26 |
|
|
|
|
Cash Conversion Cycle |
72.02 |
|
|
|
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 6.54 times in 2011, decrease from 6.82 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 5.26 times in 2011,
decrease from 5.49 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 73 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.14 |
Impressive |
Industrial
Average |
0.36 |
|
Debt to Equity Ratio |
0.16 |
Impressive |
Industrial
Average |
0.62 |
|
Times Interest Earned |
- |
|
Industrial
Average |
2.61 |
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.14 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 |
15.44 |
Impressive |
Industrial Average |
0.17 |
|
Total Assets Turnover |
1.36 |
Impressive |
Industrial Average |
0.12 |
|
Inventory Conversion Period |
53.46 |
|
|
|
|
Inventory Turnover |
6.83 |
Satisfactory |
Industrial Average |
8.19 |
|
Receivables Conversion Period |
31.96 |
|
|
|
|
Receivables Turnover |
11.42 |
Impressive |
Industrial Average |
1.74 |
|
Payables Conversion Period |
13.40 |
|
|
|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
|
1 |
Rs.86.43 |
|
Euro |
1 |
Rs.68.95 |
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.