MIRA
INFORM REPORT
|
Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALPHANI INTERNATIONAL CO., LTD. |
|
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Registered Office : |
Room 128/131-133, 12th Floor, Phyathai Plaza, 128 Phyathai Road, Rajthevee, Bangkok 10400 |
|
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|
|
Country : |
Thailand |
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|
|
|
Financials (as on) : |
28.02.2012 |
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Date of Incorporation : |
08.03.1983 |
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Com. Reg. No.: |
0105526009377 [Former : 938/2526] |
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|
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Legal Form : |
Private Limited Company |
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|
|
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Line of Business : |
Importer & Distributor of Industrial Machinery
& Chemicals |
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|
|
No. of Employees : |
49 |
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 |
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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
ALPHANI INTERNATIONAL CO., LTD.
SUMMARY
BUSINESS ADDRESS : ROOM
128/131-133, 12th FLOOR,
PHYATHAI PLAZA, 128 PHYATHAI
ROAD, RAJTHEVEE,
BANGKOK 10400,
THAILAND
TELEPHONE : [66]
2216-5657
FAX : [66] 2216-5665
E-MAIL ADDRESS : alphani@loxinfo.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1983
REGISTRATION NO. : 0105526009377
[Former : 938/2526]
TAX ID NO. : 3101228151
CAPITAL REGISTERED : BHT.
1,000,000
CAPITAL PAID-UP : BHT.
1,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCALYEAR CLOSING DATE : FEBRUARY 28
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PHANI KALAYANAKUPT, THAI
MANAGING DIRECTOR
NO. OF STAFF : 49
LINES OF BUSINESS
: INDUSTRIAL MACHINERY
& CHEMICALS
IMPORTER &
DISTRIBUTOR
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
8, 1983 as
a private limited
company under the
name style ALPHANI
INTERNATIONAL CO., LTD. by
Thai groups, in order
to operate as
an importer and
distributor of industrial
machinery and chemical
products. Subject currently employs
49 staff.
Since commencement, the
subject has been trusted
and appointed as
a distributor for
Noudex of the
U.S.A and Acima
of Switzerland, the
major suppliers of additives and
biocides for paint
industry including technical
and consulting services.
The subject’s initial
registered address was 7th/Floor, 518/3
Panunee Bldg., Ploenchit
Rd., Lumpini, Pathumwan,
Bangkok.
On March 21, 1988,
it was moved
to 14th/Floor,
518/5 Maneeya Center
Bldg., Ploenchit Rd.,
Lumpini, Pathumwan, Bangkok.
On May 10,
1994, subject’s registered
address was relocated
to Rm. 128/131-133, 12th/Floor, Phyathai
Plaza, 128 Phyathai
Rd., Rajthevee, Bangkok
10400, and this
is the company’s
current operating address
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Phani Kalayanakupt |
|
Thai |
67 |
|
Mrs. Chutima Kalayanakupt |
|
Thai |
68 |
|
Mr. Chalermchai Niyomsen |
|
Thai |
69 |
|
Mrs. Kalaya Lertudommongkol |
|
Thai |
53 |
AUTHORIZED PERSON
Two of the
above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Phani Kalayanakupt
is the Managing
Director.
He is Thai
nationality with the
age of 67
years old.
Mr. Chalermchai Niyomsen
is the General
Manager and Marketing
Manager.
He is Thai
nationality with the
age of 69
years old.
BUSINESS OPERATIONS
The subject’s activities
are importer &
distributor of industrial
chemicals for paint,
paper and plastic
industries, as well
as industrial machinery
and spare parts
for general industries according
to customer’s orders.
It also provides
technical services, co-operated
by respective suppliers
covering consultation and
evaluation of customers’
products when properties
against microorganism are
concerned.
IMPORT [COUNTRIES]
The subject purchases
the machinery and
chemicals from both
local and overseas
suppliers. 80% of the
products are imported
from overseas suppliers
in Australia, Switzerland, Malaysia,
Republic of China,
India, Spain, Italy, Belgium,
United States of America, Germany,
Singapore, South Africa,
Netherlands, Japan and
Canada, and the
remaining 20% is purchased from
local suppliers.
MAJOR SUPPLIERS
The subject has
over 50 local
and overseas suppliers.
The major suppliers
are as follows:
List of Major Suppliers:
|
Name |
Country |
Products |
|
Lorama |
Canada |
Chemical |
|
Nouplex |
Australia |
Paint Additives |
|
Acima |
Switzerland |
Biocides |
|
Associated Kaolin |
Malaysia |
Kaolin Clay |
|
Bentec S.A. |
Italy |
Organo Clay |
|
Braive Instruments |
Belgium |
Lab Equipments |
|
Creanova |
U.S.A. |
Colorants |
|
Fabricolor |
U.S.A. |
Colour Pigments |
|
Nismix |
Singapore |
Mill Machineries |
|
Oxidos Rojos De
Malaga |
Spain |
Iron Oxide |
|
Rolefs Limited |
South Africa |
Colour Pigments |
|
Sachtleben |
Germany |
White Extenders |
|
Sasol Servo |
Netherlands |
Paint Additives |
|
Shin-etsu |
Japan |
Vinyl Resin |
|
Goman Solo |
Spain |
Chemical |
|
First Color Ltd. |
Korea |
Paint Chemical |
|
IMCD Malaysia Sdn. Bhd. |
Malaysia |
Chemical/ adhesive latex &
etc. |
|
Patcham India Pvt.
Ltd. |
India |
Paint chemical/ coatings |
|
Worlee [Shanghai] Trading
Co., Ltd. |
Republic of China |
Paint chemical/ coatings |
SALES [LOCAL]
100% of the
products is sold
directly to local manufacturers, wholesalers
& end-users.
MAJOR CUSTOMERS
TOA Paint Co.,
Ltd.
Becker Acroma [Thailand]
Ltd.
Thai Kansai Paint
Co., Ltd.
K.P.C. Co., Ltd.
Nippon Paint [Thailand]
Ltd.
I.C.I. [Thailand] Ltd.
V. Brother Industries
Co., Ltd.
Dyno Co., Ltd.
RELATED/ AFFILIATED COMPANY
Multicolor Corporation Industries
Ltd.
Country : Thailand
Business Type : Distributor
of Colour Card
LITIGATIONS
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
CREDIT
Sales are by
cash or on
the credit terms of
30-60 days.
Purchasing terms are
by cash or
on the credits
of 30-60 days.
Imports are by
L/C at sight
or T/T on
the credit term
of 60 days.
BANKING
Bangkok Bank Public
Co., Ltd.
[Rajthevee Branch : 128/17-18 Phyathai
Rd., Rajthevee, Bangkok]
Siam Commercial Bank
Public Co., Ltd.
[Bangna-Trad Branch
: 13 Sukhumvit
Rd., Bangna, Bangkok ]
EMPLOYMENT
The subject employs
approximately 49 staff.
LOCATION DETAILS
The premise is
rented for operating
administrative office at Rm.
128/131-133, 12th/Floor, Phyathai
Plaza, 128 Phyathai
Rd., Rajthevee, Bangkok
10400. It is
located in a prime
commercial area.
In 2008, warehouse was
relocated from 33/71-72 Moo 10,
Bangplee District, Samutprakarn 10540, to 207 Moo 11, Theparak Rd.,
T. Bangpleeyai, A. Bangplee, Samutprakarn
10540.
COMMENT
The subject has been in the business
for three decades and
represents many suppliers of
paint chemicals. With its
long time experience
the products and services
have been trusted by its
customers in various
industries.
The subject also
disclosed moderate sale
in 2012, and
also has good
business prospect
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 10,000 shares of
Bht. 100 each with
fully paid.
THE SHAREHOLDERS
LISTED WERE
[as at October 25,
2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Phani Kalayanakupt Nationality: Thai Address : 128/598
Phayathai Rd., Thungphayathai Rajthewi,
Bangkok |
8,000 |
80.00 |
|
Mrs. Chutima Kalayanakupt Nationality: Thai Address : 128/598
Phayathai Rd., Thunhphyathai,
Rajthewi, Bangkok |
1,800 |
18.00 |
|
Mrs. Sudaporn Kalayanakupt Nationality: Thai Address : 20
Soi 4 Seree
2, Mahaisawan, Suanluang, Phrakanong,
Bangkok |
200 |
2.00 |
Total Shareholders : 3
Share Structure
[as at October
25, 2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
10,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
10,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Tawee Charnvaivit
No. 2015
BALANCE SHEET [BAHT]
The latest financial
figures published for
February 28, 2012,
2011 & 2010
were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash in Hand
& at Bank |
18,739,932.77 |
23,038,734.75 |
12,419,938.76 |
|
Short-term Investment |
152,168,480.00 |
128,168,480.00 |
134,569,222.89 |
|
Trade Accounts Receivable |
61,345,320.73 |
64,216,902.49 |
62,717,693.68 |
|
Inventories |
51,632,712.74 |
55,902,558.17 |
40,100,090.00 |
|
Deferred Income &
Prepaid Expenses |
3,880,243.52 |
2,056,643.31 |
1,552,896.86 |
|
Prepaid Income Tax |
3,137,361.20 |
4,274,864.97 |
3,112,815.82 |
|
Other Current Assets
|
- |
2,758.93 |
482,540.00 |
|
|
|
|
|
|
Total Current Assets
|
290,904,050.96 |
277,660,942.62 |
254,955,198.01 |
|
Fixed Assets |
56,580,430.02 |
59,711,481.75 |
61,406,576.30 |
|
Long-term Investment |
2,700,000.00 |
2,700,000.00 |
2,700,000.00 |
|
Other Non-current Assets |
1,618,681.18 |
1,629,210.56 |
1,719,421.02 |
|
Total Assets |
351,803,162.16 |
341,701,634.93 |
320,781,195.33 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accts. Payable |
16,234,203.40 |
15,477,513.00 |
8,922,819.00 |
|
Revenue Department Payable |
401,636.86 |
821,064.80 |
598,270.88 |
|
Accrued Expenses |
4,236,172.17 |
4,661,396.94 |
3,569,924.86 |
|
Accrued Income Tax |
9,292,437.70 |
9,577,658.75 |
7,990,660.99 |
|
Other Current Liabilities |
82,433.95 |
67,153.49 |
91,955.40 |
|
|
|
|
|
|
Total Current Liabilities |
30,246,884.08 |
30,604,786.98 |
21,173,631.13 |
|
Total Liabilities |
30,246,884.08 |
30,604,786.98 |
21,173,631.13 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
|
|
|
|
|
Capital Paid |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
Retained Earning Appropriated for
Statutory Reserve
|
100,000.00 |
100,000.00 |
100,000.00 |
|
Unappropriated |
320,456,278.08 |
309,996,847.95 |
298,507,564.20 |
|
Total Shareholders' Equity |
321,556,278.08 |
311,096,847.95 |
299,607,564.20 |
|
Total Liabilities &
Shareholders' Equity |
351,803,162.16 |
341,701,634.93 |
320,781,195.33 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales & Service
Income |
211,679,988.99 |
240,168,130.10 |
194,638,448.35 |
|
Other Income |
5,333,797.87 |
3,390,877.66 |
6,134,929.65 |
|
Total Revenues |
217,013,786.86 |
243,559,007.76 |
200,773,378.00 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
148,608,823.80 |
174,844,984.82 |
140,363,564.26 |
|
Selling & Administrative Expenses |
38,247,456.05 |
37,289,730.87 |
34,543,109.14 |
|
Total Expenses |
186,856,279.85 |
212,134,715.69 |
174,906,673.40 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost & Income Tax |
30,157,507.01 |
31,424,292.07 |
25,866,704.60 |
|
Financial Cost |
[405,639.18] |
[489,408.43] |
[367,389.13] |
|
Income Tax |
[9,292,437.70] |
[9,577,658.75] |
[7,990,660.99] |
|
|
|
|
|
|
Net Profit / [Loss] |
20,459,430.13 |
21,357,224.89 |
17,508,654.48 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
9.62 |
9.07 |
12.04 |
|
QUICK RATIO |
TIMES |
7.68 |
7.04 |
9.90 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.74 |
4.02 |
3.17 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.60 |
0.70 |
0.61 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
126.82 |
116.70 |
104.28 |
|
INVENTORY TURNOVER |
TIMES |
2.88 |
3.13 |
3.50 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
105.78 |
97.59 |
117.61 |
|
RECEIVABLES TURNOVER |
TIMES |
3.45 |
3.74 |
3.10 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
39.87 |
32.31 |
23.20 |
|
CASH CONVERSION CYCLE |
DAYS |
192.72 |
181.98 |
198.69 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
70.20 |
72.80 |
72.12 |
|
SELLING & ADMINISTRATION |
% |
18.07 |
15.53 |
17.75 |
|
INTEREST |
% |
0.19 |
0.20 |
0.19 |
|
GROSS PROFIT MARGIN |
% |
32.32 |
28.61 |
31.04 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
14.25 |
13.08 |
13.29 |
|
NET PROFIT MARGIN |
% |
9.67 |
8.89 |
9.00 |
|
RETURN ON EQUITY |
% |
6.36 |
6.87 |
5.84 |
|
RETURN ON ASSET |
% |
5.82 |
6.25 |
5.46 |
|
EARNING PER SHARE |
BAHT |
2,045.94 |
2,135.72 |
1,750.87 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.09 |
0.09 |
0.07 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.09 |
0.10 |
0.07 |
|
TIME INTEREST EARNED |
TIMES |
74.35 |
64.21 |
70.41 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(11.86) |
23.39 |
|
|
OPERATING PROFIT |
% |
(4.03) |
21.49 |
|
|
NET PROFIT |
% |
(4.20) |
21.98 |
|
|
FIXED ASSETS |
% |
(5.24) |
(2.76) |
|
|
TOTAL ASSETS |
% |
2.96 |
6.52 |
|
ANNUAL GROWTH : RISKY
An annual sales growth is -11.86%. Turnover has decreased from THB
240,168,130.10 in 2011 to THB 211,679,988.99 in 2012. While net profit has decreased
from THB 21,357,224.89 in 2011 to THB 20,459,430.13 in 2012. And total assets
has increased from THB 341,701,634.93 in 2011 to THB 351,803,162.16 in 2012.
PROFITABILITY : IMPRESSIVE
PROFITABILITY RATIO
|
Gross Profit Margin |
32.32 |
Impressive |
Industrial Average |
11.89 |
|
Net Profit Margin |
9.67 |
Impressive |
Industrial Average |
3.03 |
|
Return on Assets |
5.82 |
Impressive |
Industrial Average |
4.56 |
|
Return on Equity |
6.36 |
Acceptable |
Industrial Average |
8.90 |
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 32.32%. 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 9.67% 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
5.82%, 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.
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 6.36%.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
9.62 |
Impressive |
Industrial Average |
1.90 |
|
Quick Ratio |
7.68 |
|
|
|
|
Cash Conversion Cycle |
192.72 |
|
|
|
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 9.62 times in 2012, increased
from 9.07 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 7.68 times in 2012,
increased from 7.04 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 193 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.09 |
Impressive |
Industrial Average |
0.45 |
|
Debt to Equity Ratio |
0.09 |
Impressive |
Industrial Average |
0.85 |
|
Times Interest Earned |
74.35 |
Impressive |
Industrial Average |
4.45 |
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 74.35 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 0.09 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 Stable
Times Interest Earned Uptrend
ACTIVITY : SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.74 |
Impressive |
Industrial Average |
3.70 |
|
Total Assets Turnover |
0.60 |
Deteriorated |
Industrial Average |
1.50 |
|
Inventory Conversion Period |
126.82 |
|
|
|
|
Inventory Turnover |
2.88 |
Acceptable |
Industrial Average |
4.59 |
|
Receivables Conversion Period |
105.78 |
|
|
|
|
Receivables Turnover |
3.45 |
Satisfactory |
Industrial Average |
3.61 |
|
Payables Conversion Period |
39.87 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.45 and 3.74 in
2012 and 2011 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 2012
decreased from 2011. 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 increased from 117 days at the
end of 2011 to 127 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 3.13 times in year 2011 to 2.88 times
in year 2012.
The company's Total Asset Turnover is calculated as 0.6 times and 0.7
times in 2012 and 2011 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 Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.