MIRA
INFORM REPORT
|
Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
S. P. S.
INTERTECH CO., LTD. |
|
|
|
|
Registered Office : |
99 Moo 2, Suvintawong Road, T. Klongnakornnuangkhet, A. Muang, Chachoengsao 24000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
24.06.2003 |
|
|
|
|
Com. Reg. No.: |
0245546000609 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in
contracted manufacturing wide range of home
and office knockdown
furniture for bedroom, kitchen, living room and
etc., under customer’s
brands |
|
|
|
|
No. of Employees : |
800 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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
S. P. S. INTERTECH CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 99
MOO 2, SUVINTAWONG
ROAD,
T.
KLONGNAKORNNUANGKHET, A. MUANG,
CHACHOENGSAO 24000
TELEPHONE : [66] 38
847-730-47
FAX :
[66] 38
847-748-9
E-MAIL
ADDRESS : sps@spsthai.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2003
REGISTRATION
NO. : 0245546000609
TAX
ID NO. : 3031020115
CAPITAL REGISTERED : BHT. 448,000,000
CAPITAL PAID-UP : BHT.
448,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. KERATI SERMPRAPHASILP, THAI
PRESIDENT
NO.
OF STAFF : 800
LINES
OF BUSINESS : HOME
AND OFFICE FURNITURE
MANUFACTURING CONTRACT
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 June 24,
2003 as a
private limited company
under the name style S. P. S. INTERTECH CO., LTD., by
Thai groups, in order to
provide manufacturing contract
wide range of
home and office
furniture for both
domestic and international markets.
It currently employs
approximate 800 staff.
It
was granted investment
privilege promotional by
Board of Investment
[BOI] on February
5, 2005.
Subject
is a subsidiary
of S. P. S. Cooperate
Co., Ltd.
The subject’s registered
address is 99 Moo 2,
Suvintawong Rd., T.
Klongnakornnuangkhet, A. Muang, Chachoengsao
24000, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Kerati Sermpraphasilp |
|
Thai |
58 |
|
Ms. Orapin Sermpraphasilp |
|
Thai |
56 |
|
Mr. Weerasak Sermpraphasilp |
|
Thai |
54 |
AUTHORIZED PERSON
Any two of the above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Kerati Sermpraphasilp is
the President.
He is Thai nationality with
the age of 58 years
old.
Mr. Weerasak Sermpraphasilp is the
Managing Director.
He is Thai
nationality with the
age of 54
years old.
Ms. Orapin Sermpraphasilp is
the Finance & Account Manager.
She is Thai
nationality with the
age of 56
years old.
Mr. Kriengkrai Lertmongkol
is the Factory
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in
contracted manufacturing wide range of
home and office
knockdown furniture for bedroom,
kitchen, living room and etc.,
under customer’s brands.
PURCHASE
Raw materials i.e.
wood, aluminum, metal
products and glass
as well as
accessories are purchased
from suppliers and agents
in both domestic
and overseas, such
as Japan, Republic
of China, Singapore,
Germany, U.S.A., India,
Indonesia and Malaysia.
SALES
80% of the
products is exported
to Australia, New
Zealand and many
countries in Europe,
Asia and U.S.A.,
the remaining 20%
is sold locally.
MAJOR CUSTOMERS
Ikea Wholesale Inc. : U.S.A.
Ikea Systems B.V. : Sweden
Ikea [Thailand] Co.,
Ltd. : Thailand
RELATED AND AFFILIATED
COMPANY
S. P. S. Global Trade
Co., Ltd.
Business Type : Trading
company
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.
The Siam Commercial
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
800 office staff
and factory workers.
LOCATION
DETAILS
The
premise is owned
for administrative office,
factory and warehouse
at the heading
address. Premise is
located in provincial.
COMMENT
“SPS” brand has well recognized throughout the country and abroad. They
are the five top seller of middle-end
products in Thailand and are sold into many countries in
USA, Asia, Middle East
and European countries.
There is a
high demand of the knock down
home furniture in
relation to the growth of. property
sector mainly condominiums. Sales
surge reflected the
steady growth of
the consumption market
as well.
FINANCIAL INFORMATION
The
capital was initially
registered at Bht. 1,000,000 divided into
1,000 shares of
Bht. 1,000 each.
The
capital was increased
later as following:
Bht. 201,000,000
on December 22,
2003
Bht. 251,000,000
on June 17,
2009
Bht. 448,000,000
on December 9,
2009
The
latest registered capital
was increased to
Bht. 448 million, divided
into 448,000 shares of Bht.
1,000 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
S. P. S. Cooperate Co.,
Ltd. Nationality: Thai Address : 74
Moo 9, Suvintawong
Rd.,
Klongnakornnuangkhet,
Muang,
Chachoengsao |
447,000 |
99.78 |
|
Mrs. Paphasiri Sermpraphasilp Nationality: Thai Address : 21
Pracharajbumphen Rd., Huaykwang,
Bangkok |
148 |
0.04 |
|
Mr. Kerati Sermpraphasilp Nationality: Thai Address : 121
Ramkhamhaeng Rd., Huamark,
Bangkapi, Bangkok |
142 |
0.03 |
|
Ms. Orapin Sermpraphasilp Nationality: Thai Address : 65 Soi
Navathani 4, Kannayao,
Bangkok |
142 |
0.03 |
|
Mr. Weerasak Sermpraphasilp Nationality: Thai Address : 24 Soi
S. Kiatchai 1, Huaykwang,
Bangkok |
142 |
0.03 |
|
Mr. Peerapol Sermpraphasilp Nationality: Thai Address : 65
Soi Navathani 4,
Kannayao, Bangkok |
142 |
0.03 |
|
Mr. Vorapoj Sermpraphasilp Nationality: Thai Address : 65
Soi Navathani 4,
Kannayao, Bangkok |
142 |
0.03 |
|
Ms. Voranuch Sermpraphasilp Nationality: Thai Address : 65
Soi Navathani 4,
Kannayao, Bangkok |
142 |
0.03 |
Total Shareholders : 8
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
8 |
448,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
8 |
448,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC ACCOUNTANT NO. :
Mr. Athipong Athipongsakul
No. 3500
Note:
The 2012 financial
statement was not
available during investigation.
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 |
20,689,948.54 |
28,895,501.98 |
126,619,349.55 |
|
Trade Accounts
& Other Receivable |
207,310,409.86 |
158,574,253.54 |
82,437,532.69 |
|
Inventories |
156,932,979.26 |
182,142,166.99 |
90,562,840.00 |
|
Other Current
Assets |
381,886.79 |
524,289.31 |
12,102,430.27 |
|
|
|
|
|
|
Total Current
Assets |
385,315,224.45 |
370,136,211.82 |
311,722,152.51 |
|
Lending to
Related Company |
- |
52,533,184.98 |
50,211,155.73 |
|
Fixed Assets |
1,112,006,252.83 |
1,156,522,104.79 |
786,883,710.39 |
|
Intangible Assets
|
1,355,833.61 |
922,963.74 |
971,437.07 |
|
Total Assets |
1,498,677,310.89 |
1,576,581,280.35 |
1,149,788,455.70 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft
& Short-term Loan from Bank |
102,062,454.22 |
178,752,836.45 |
239,595,874.83 |
|
Trade Accounts & Other
Payable |
226,359,218.13 |
224,803,080.99 |
111,714,579.57 |
|
Current Portion of
Long-term Loan from Bank |
129,600,000.00 |
112,500,000.00 |
32,400,000.00 |
|
Current Portion of
Other Long-term Loan |
94,000,000.00 |
60,000,000.00 |
24,000,000.00 |
|
Current Portion of
Finance Lease Contract
Liabilities |
130,665.37 |
295,707.05 |
272,083.22 |
|
Accrued Expenses |
- |
- |
13,724,654.06 |
|
Other Current
Liabilities |
539,000.00 |
14,400.00 |
2,448,259.99 |
|
|
|
|
|
|
Total Current Liabilities
|
552,691,337.72 |
576,366,024.49 |
424,155,451.67 |
|
Long-term Loan
from Bank |
198,720,000.00 |
328,320,000.00 |
50,019,752.31 |
|
Other Long-term
Loan |
246,071,920.15 |
297,241,960.26 |
318,291,644.94 |
|
Finance Lease
Contract Liabilities |
- |
130,665.39 |
426,372.45 |
|
Employee Benefits
Obligation |
5,312,733.00 |
- |
- |
|
Total Liabilities |
1,002,795,990.87 |
1,202,058,650.14 |
792,893,221.37 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share
capital : Baht 1,000 par
value authorized,
issued and fully
paid
share capital 448,000
shares |
448,000,000.00 |
448,000,000.00 |
448,000,000.00 |
|
|
|
|
|
|
Capital Paid
|
448,000,000.00 |
448,000,000.00 |
416,000,000.00 |
|
Retained Earning Appropriated for
Statutory Reserve |
10,181,956.37 |
10,181,956.37 |
10,181,956.37 |
|
Unappropriated [Deficit] |
37,699,363.65 |
[83,659,326.16] |
[69,286,722.04] |
|
Total Shareholders'
Equity |
495,881,320.02 |
374,522,630.21 |
356,895,234.33 |
|
Total Liabilities
& Shareholders' Equity |
1,498,677,310.89 |
1,576,581,280.35 |
1,149,788,455.70 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales |
1,890,325,677.58 |
1,071,134,238.99 |
804,225,152.47 |
|
Gain on
Exchange Rate |
5,811,951.75 |
8,711,838.29 |
11,803,729.05 |
|
Other Income |
5,102,274.54 |
6,320,904.37 |
3,199,123.40 |
|
Total Revenues |
1,901,239,903.87 |
1,086,166,981.65 |
819,228,004.92 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of
Goods Sold |
1,635,798,525.84 |
937,007,957.02 |
676,384,626.58 |
|
Selling Expenses |
10,588,759.26 |
14,887,649.89 |
8,939,383.53 |
|
Administrative Expenses |
63,546,445.34 |
56,457,853.49 |
46,311,518.97 |
|
Loss on
Exchange Rate |
8,381,928.17 |
43,403,806.30 |
2,631,273.72 |
|
Total Expenses |
1,718,315,658.61 |
1,051,757,266.70 |
734,266,802.80 |
|
|
|
|
|
|
Profit/[Loss] before
Financial Cost |
182,924,245.26 |
34,409,714.95 |
84,961,202.12 |
|
Financial Cost |
[57,566,674.45] |
[48,782,319.07] |
[32,316,115.17] |
|
|
|
|
|
|
Net Profit/[Loss] |
125,357,570.81 |
[14,372,604.12] |
52,645,086.95 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.70 |
0.64 |
0.73 |
|
QUICK RATIO |
TIMES |
0.41 |
0.33 |
0.49 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.70 |
0.93 |
1.02 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.26 |
0.68 |
0.70 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
35.02 |
70.95 |
48.87 |
|
INVENTORY TURNOVER |
TIMES |
10.42 |
5.14 |
7.47 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
40.03 |
54.04 |
37.41 |
|
RECEIVABLES TURNOVER |
TIMES |
9.12 |
6.75 |
9.76 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
50.51 |
87.57 |
60.28 |
|
CASH CONVERSION CYCLE |
DAYS |
24.54 |
37.42 |
26.00 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
86.54 |
87.48 |
84.10 |
|
SELLING & ADMINISTRATION |
% |
3.92 |
6.66 |
6.87 |
|
INTEREST |
% |
3.05 |
4.55 |
4.02 |
|
GROSS PROFIT MARGIN |
% |
14.04 |
13.93 |
17.76 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
9.68 |
3.21 |
10.56 |
|
NET PROFIT MARGIN |
% |
6.63 |
(1.34) |
6.55 |
|
RETURN ON EQUITY |
% |
25.28 |
(3.84) |
14.75 |
|
RETURN ON ASSET |
% |
8.36 |
(0.91) |
4.58 |
|
EARNING PER SHARE |
BAHT |
279.82 |
(32.08) |
126.55 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.67 |
0.76 |
0.69 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.02 |
3.21 |
2.22 |
|
TIME INTEREST EARNED |
TIMES |
3.18 |
0.71 |
2.63 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
76.48 |
33.19 |
|
|
OPERATING PROFIT |
% |
431.61 |
(59.50) |
|
|
NET PROFIT |
% |
972.20 |
(127.30) |
|
|
FIXED ASSETS |
% |
(3.85) |
46.97 |
|
|
TOTAL ASSETS |
% |
(4.94) |
37.12 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 76.48%. Turnover has increased from THB
1,071,134,238.99 in 2010 to THB 1,890,325,677.58 in 2011. While net profit has
increased from THB -14,372,604.12 in 2010 to THB 125,357,570.81 in 2011. And
total assets has decreased from THB 1,576,581,280.35 in 2010 to THB
1,498,677,310.89 in 2011.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
14.04 |
Satisfactory |
Industrial Average |
14.29 |
|
Net Profit Margin |
6.63 |
Impressive |
Industrial Average |
1.01 |
|
Return on Assets |
8.36 |
Impressive |
Industrial Average |
1.47 |
|
Return on Equity |
25.28 |
Impressive |
Industrial Average |
3.96 |
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 14.04%. When compared with
the industry average, the ratio of the company was lower, this indicated that
company may have 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 6.63%,
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
8.36%, 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 25.28%, 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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
0.70 |
Risky |
Industrial Average |
1.70 |
|
Quick Ratio |
0.41 |
|
|
|
|
Cash Conversion Cycle |
24.54 |
|
|
|
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 0.7 times in 2011, increased from 0.64 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 0.41 times in 2011,
increased from 0.33 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 25 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.67 |
Acceptable |
Industrial Average |
0.63 |
|
Debt to Equity Ratio |
2.02 |
Risky |
Industrial Average |
1.68 |
|
Times Interest Earned |
3.18 |
Impressive |
Industrial Average |
1.26 |
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 3.18 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 0.67 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 |
1.70 |
Deteriorated |
Industrial Average |
4.67 |
|
Total Assets Turnover |
1.26 |
Satisfactory |
Industrial Average |
1.41 |
|
Inventory Conversion Period |
35.02 |
|
|
|
|
Inventory Turnover |
10.42 |
Impressive |
Industrial Average |
3.77 |
|
Receivables Conversion Period |
40.03 |
|
|
|
|
Receivables Turnover |
9.12 |
Impressive |
Industrial Average |
2.89 |
|
Payables Conversion Period |
50.51 |
|
|
|
The company's Account Receivable Ratio is calculated as 9.12 and 6.75 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
increased from 2010. This would suggest the company had good performance 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 71 days at the
end of 2010 to 35 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 5.14 times in year 2010 to 10.42
times in year 2011.
The company's Total Asset Turnover is calculated as 1.26 times and 0.68
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 Downtrend
Inventory Turnover Uptrend
Receivables Turnover Downtrend
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.