MIRA
INFORM REPORT
|
Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRECISION
PLASTIC CO., LTD. |
|
|
|
|
Registered Office : |
185/6 Moo 9, Nakornsawan-Pisanuloke Road, T. Banmaklua, A. Muang, Nakornsawan 60000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
15.10.1996 |
|
|
|
|
Com. Reg. No.: |
0605539000735 [Former : NOR VOR. 587] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, exporter & distributor of Plastic container and packaging products |
|
|
|
|
No. of Employees : |
360 |
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 |
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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 (31.03.2012) |
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
PRECISION PLASTIC CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 185/6
MOO 9, NAKORNSAWAN-PISANULOKE ROAD,
T. BANMAKLUA, A.
MUANG,
NAKORNSAWAN 60000
TELEPHONE : [66] 56
276-070-3
FAX : [66]
56 276-188
E-MAIL
ADDRESS : info@preciplas.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1996
REGISTRATION
NO. : 0605539000735 [Former : NOR
VOR. 587]
TAX
ID NO. : 3681009546
CAPITAL REGISTERED : BHT. 347,000,000
CAPITAL PAID-UP : BHT.
347,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL
YEAR CLOSING DATE : DECEMBER
31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SOMSAK SUTHAROSKAJORNCHAI, THAI
MANAGING DIRECTOR
& SALES
MARKETING MANAGER
NO.
OF STAFF : 360
LINES
OF BUSINESS : PLASTIC
CONTAINER AND PACKAGING
PRODUCTS
MANUFACTURER, EXPORTER
& DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on October
15, 1996 as
a private limited
company under the
name style PRECISION
PLASTIC CO., LTD.,
by Thai group,
Sutharoskajornchai family. The
business objective was
initially focused on
HDPE containers and
closure production for
local drinking water
industry. The main
products are PEP bottles.
Later, subject expanded
its business into
PET bottling water.
It currently employs
360 staff.
The subject’s registered address is 185/6 Moo 9, Nakornsawan-Pisanuloke
Rd., T. Banmaklua, A. Muang,
Nakornsawan 60000, and
this is the
company’s current operation
address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somsak Sutharoskajornchai |
|
Thai |
48 |
|
Mrs. Ruenrudee Sutharoskajornchai |
|
Thai |
46 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr.
Somsak Sutharoskajornchai is
the Managing Director
& Sales Marketing Manager.
He
is Thai nationality
with the age
of 48 years
old.
Mrs. Ruenrudee Sutharoskajornchai is
the Assistant Managing
Director.
She is Thai
nationality with the
age of 46 years
old.
Mr. Komsorn Viputh-amorn is
the Factory Manager [Nakornsawan].
He is Thai
nationality.
Mr. Nikorn Kansook
is the Factory
Manager [Ayutthaya].
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
service of plastic
packaging products mainly
PET bottles, closures,
PET Preforms, and
HDPE/PP bottles with
caps for various sizes, e.g.
200, 250, 500, 950 ml. and 20 liters
for drinking water. The
products are produced
under customers’ requirement.
PRODUCTION CAPACITY
550,000 bottle/day
PURCHASE
90% of raw materials
mainly PVC resin [polyethylene]
is purchased from
local suppliers, the remaining
10% is imported
from Germany, Japan,
Taiwan and Republic of
China.
SALES
90% of the
products is sold
and serviced locally
by wholesale to
drinking water and
beverages manufactures, the
remaining 10% is exported to Indonesia,
Hong Kong, Singapore India and
Vietnam.
MAJOR CUSTOMERS
- Sermsuk Public Company
Limited
- Ajinomoto Co., [Thailand]
Ltd.
- Nestle Group
- Pharmaceutical & Cosmetic
Industrial
- etc.
RELATED AND AFFILIATED
COMPANY
Plasticland [Thailand] Co.,
Ltd.
Business Type :
Manufacturer and distributor
of plastic packaging
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 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 T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Nakornsawan Branch :
154/1 Sawanvithee Rd.,
Paknampho, Muang, Nakornsawan]
EMPLOYMENT
The subject employs
approximately 360 office
staff and factory
workers.
LOCATION DETAILS
The premise is
owned for administrative office &
factory I at the
heading address. Premise
is located in
provincial.
Factory II is
located at 47
Moo 9, Rojana
Industrial Park, T.
Thanu, A. Uthai,
Ayutthaya 13210.
Warehouse I : 102/19 Moo
11, T. Banmaklua, A. Muang,
Nakornsawan 60000.
Warehouse II :
14/26-29 Moo 10,
Phaholyothin Rd., T.
Klongnueng, A. Klongluang,
Pathumthani 12120
COMMENT
The company’s core business is PET
packaging manufacture. It
was rapidly gained its recognition
and reputation from
the leading beverage
companies as a
modern plastic packaging
converter by acquiring the latest advanced technology and
knowledge to serve the
rapid growing demand
from its customers.
The subject has
strong business in
the past several
years. This was
due to a strong
growth of beverage
industry as well. The
company is still
confident of growing
among domestic consumption of PET
bottle in the future.
FINANCIAL INFORMATION
The capital was initially
registered at Bht. 15,000,000 divided
into 150,000 shares of
Bht. 100 each.
The capital was
increased later as
followings:
Bht.
50,000,000 on December
20, 2001
Bht.
180,000,000 on
April 19, 2004
Bht.
265,000,000 on
April 19, 2005
Bht.
300,000,000 on
October 20, 2005
Bht.
347,000,000 on
February 2, 2006
The latest registered
capital was increased
to Bht. 347,000,000
divided into 3,470,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Ruenrudee Sutharoskajornchai Nationality: Thai Address : 4
Soi Ramkhamhaeng 24 Yaek 26,
Huamark,
Bangkapi, Bangkok |
1,715,000 |
49.42 |
|
Mr. Somsak Sutharoskajornchai Nationality: Thai Address : 185/16
Moo 9, T.
Banmaklua, A. Muang,
Nakornsawan 60000 |
1,665,000 |
48.00 |
|
Ms. Sodsai Sutharoskajornchai Nationality: Thai Address : 7/1
Vibhavadee-Rangsit Rd., Samsennai,
Phyathai, Bangkok 10400 |
30,000 |
0.86 |
|
Mr. Ekasith Sutharoskarnchai Nationality: Thai Address : 7 Vibhavadee-Rangsit Rd.,
Samsennai,
Phyathai, Bangkok 10400 |
30,000 |
0.86 |
|
Ms. Chidapa Sutharoskajornchai Nationality: Thai Address : 185/16
Moo 9, T.
Banmaklua, A. Muang,
Nakornsawan 60000 |
30,000 |
0.86 |
Total Shareholders : 5
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
3,470,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
5 |
3,470,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Apichart Sayasith
No. 4299
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash in hand
& at Bank
|
15,083,561 |
2,133,575 |
14,630,476 |
|
Trade Accounts Receivable - Related company |
1,600,000 |
81,138,657 |
66,774,948 |
|
- Other company |
313,052,989 |
199,422,235 |
162,082,754 |
|
Advance to Related Company |
5,100,000 |
- |
- |
|
Inventories |
155,977,985 |
172,919,310 |
113,935,479 |
|
Deferred Income from
Compensation |
25,047,391 |
- |
- |
|
Value Added Tax Receivable |
23,785,461 |
16,738,921 |
- |
|
Other Current Assets
|
6,873,370 |
4,651,209 |
6,708,219 |
|
|
|
|
|
|
Total Current Assets
|
546,520,757 |
478,003,907 |
364,131,876 |
|
|
|
|
|
|
Fixed Assets |
1,492,758,757 |
1,631,505,526 |
1,087,032,933 |
|
Intangible Assets |
4,855,210 |
5,448,196 |
10,164,277 |
|
Other Non-current Assets |
956,700 |
1,083,000 |
1,080,000 |
|
Total Assets |
2,045,091,424 |
2,116,040,629 |
1,462,409,086 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from
Financial Institutions |
195,000,000 |
121,000,000 |
30,000,000 |
|
Trade Accounts Payable |
|
|
|
|
Related company |
- |
391,807 |
561,710 |
|
Other company |
218,009,017 |
179,317,904 |
135,897,184 |
|
Machinery Payable |
344,989,863 |
348,623,064 |
152,240,276 |
|
Current Portion of Long-term
Loan from Financial Institutions |
288,097,000 |
137,837,861 |
85,740,000 |
|
Current Portion of Financial Lease Contract Liabilities |
2,299,688 |
- |
- |
|
Accrued Income Tax |
3,849,051 |
- |
- |
|
Other Current Liabilities |
1,599,421 |
1,905,805 |
24,471,029 |
|
|
|
|
|
|
Total Current Liabilities |
1,053,844,040 |
789,076,441 |
428,910,199 |
|
Long-term Loan from Financial Institutions |
504,498,600 |
261,068,600 |
163,906,461 |
|
Financial Lease Contract Liabilities |
5,073,644 |
- |
- |
|
Estimated Liabilities for
Employee Benefits |
4,379,667 |
- |
- |
|
Total Liabilities |
1,567,795,951 |
1,050,145,041 |
592,816,660 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 3,470,000 shares |
347,000,000 |
347,000,000 |
347,000,000 |
|
|
|
|
|
|
Capital Paid |
347,000,000 |
347,000,000 |
347,000,000 |
|
Statutory Reserve |
34,700,000 |
34,700,000 |
34,700,000 |
|
Retained Earning -
Unappropriated |
95,595,473 |
684,195,588 |
487,892,426 |
|
Total Shareholders' Equity |
477,295,473 |
1,065,895,588 |
869,592,426 |
|
Total Liabilities &
Shareholders' Equity |
2,045,091,424 |
2,116,040,629 |
1,462,409,086 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
1,757,252,531 |
1,594,130,771 |
1,457,280,685 |
|
Compensation Income |
25,047,391 |
- |
- |
|
Gain on Exchange Rate |
2,479,499 |
39,543,665 |
5,965,398 |
|
Other Income |
5,359,094 |
9,024,136 |
6,358,318 |
|
Total Revenues |
1,790,138,515 |
1,642,698,572 |
1,469,604,401 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,380,511,990 |
1,197,665,919 |
997,312,030 |
|
Allowance for Loss
from Goods & Flood |
595,200,000 |
- |
- |
|
Selling Expenses |
62,418,568 |
52,854,612 |
49,296,297 |
|
Administrative Expenses |
38,869,036 |
23,268,220 |
25,163,652 |
|
Total Expenses |
2,076,999,594 |
1,273,788,751 |
1,071,771,979 |
|
|
|
|
|
|
Profit /[Loss] before Financial Cost &
Income Tax |
[286,861,079] |
368,909,821 |
397,832,422 |
|
Financial Cost |
[37,639,958] |
[16,456,659] |
[21,228,654] |
|
Income Tax |
[3,849,051] |
- |
- |
|
Net Profit / [Loss] |
[328,350,115] |
352,453,162 |
376,603,768 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.52 |
0.61 |
0.85 |
|
QUICK RATIO |
TIMES |
0.32 |
0.36 |
0.57 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.18 |
0.98 |
1.34 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.86 |
0.75 |
1.00 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
41.24 |
52.70 |
41.70 |
|
INVENTORY TURNOVER |
TIMES |
8.85 |
6.93 |
8.75 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
65.02 |
45.66 |
40.60 |
|
RECEIVABLES TURNOVER |
TIMES |
5.61 |
7.99 |
8.99 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
57.64 |
54.65 |
49.74 |
|
CASH CONVERSION CYCLE |
DAYS |
48.62 |
43.71 |
32.56 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
78.56 |
75.13 |
68.44 |
|
SELLING & ADMINISTRATION |
% |
5.76 |
4.78 |
5.11 |
|
INTEREST |
% |
2.14 |
1.03 |
1.46 |
|
GROSS PROFIT MARGIN |
% |
23.31 |
27.92 |
32.41 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(16.32) |
23.14 |
27.30 |
|
NET PROFIT MARGIN |
% |
(18.69) |
22.11 |
25.84 |
|
RETURN ON EQUITY |
% |
(68.79) |
33.07 |
43.31 |
|
RETURN ON ASSET |
% |
(16.06) |
16.66 |
25.75 |
|
EARNING PER SHARE |
BAHT |
(94.63) |
101.57 |
108.53 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.77 |
0.50 |
0.41 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.28 |
0.99 |
0.68 |
|
TIME INTEREST EARNED |
TIMES |
(7.62) |
22.42 |
18.74 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
10.23 |
9.39 |
|
|
OPERATING PROFIT |
% |
(177.76) |
(7.27) |
|
|
NET PROFIT |
% |
(193.16) |
(6.41) |
|
|
FIXED ASSETS |
% |
(8.50) |
50.09 |
|
|
TOTAL ASSETS |
% |
(3.35) |
44.70 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is 10.23%. Turnover has increased from THB
1,594,130,771.00 in 2010 to THB 1,757,252,531.00 in 2011. While net profit has
decreased from THB 352,453,162.00 in 2010 to THB -328,350,115.00 in 2011. And
total assets has decreased from THB 2,116,040,629.00 in 2010 to THB
2,045,091,424.00 in 2011.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
23.31 |
Impressive |
Industrial
Average |
14.48 |
|
Net Profit Margin |
(18.69) |
Deteriorated |
Industrial Average |
3.55 |
|
Return on Assets |
(16.06) |
Deteriorated |
Industrial
Average |
5.28 |
|
Return on Equity |
(68.79) |
Deteriorated |
Industrial
Average |
13.49 |
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 23.31%. When compared with the industry average, the ratio of
the company was higher, 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 -18.69%.
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, its was lower, the company's figure is -16.06%.
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 -68.79%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.52 |
Risky |
Industrial
Average |
1.10 |
|
Quick Ratio |
0.32 |
|
|
|
|
Cash Conversion Cycle |
48.62 |
|
|
|
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 0.52 times in 2011, decreased from 0.61 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 0.32 times in 2011,
decreased from 0.36 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 49 days.
Trend of the average
competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.77 |
Acceptable |
Industrial
Average |
0.58 |
|
Debt to Equity Ratio |
3.28 |
Risky |
Industrial
Average |
1.40 |
|
Times Interest Earned |
(7.62) |
Risky |
Industrial
Average |
3.52 |
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 -7.63 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 0.77 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.18 |
Deteriorated |
Industrial
Average |
2.82 |
|
Total Assets Turnover |
0.86 |
Acceptable |
Industrial
Average |
1.51 |
|
Inventory Conversion Period |
41.24 |
|
|
|
|
Inventory Turnover |
8.85 |
Impressive |
Industrial
Average |
7.07 |
|
Receivables Conversion Period |
65.02 |
|
|
|
|
Receivables Turnover |
5.61 |
Impressive |
Industrial
Average |
5.04 |
|
Payables Conversion Period |
57.64 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.61 and 7.99 in
2011 and 2010 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate revenue. A lower ratio may indicate
over extension and collection problems. Conversely, a higher ratio may indicate
an overtly stringent policy. In this case, the company's A/R ratio in 2011
decreased from 2010. This would suggest the company had deteriorated in the
management of its debt collections.
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has decreased from 53 days at the
end of 2010 to 41 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 6.93 times in year 2010 to 8.85 times
in year 2011.
The company's Total Asset Turnover is calculated as 0.86 times and 0.75
times in 2011 and 2010 respectively. This ratio is determined by dividing total
assets into total sales turnover. The ratio measures the activity of the assets
and the ability of the firm to generate sales through the use of the assets.
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
UK Pound |
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.71.33 |
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.