MIRA
INFORM REPORT
|
Report Date : |
27.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
G.T.
TRADING CO., LTD. |
|
|
|
|
Registered Office : |
20/9 Moo 21, Soi Watpradu, Rachaphruk Road, Bangramad, Talingchan, Bangkok 10170 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
22.05.1995 |
|
|
|
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Com. Reg. No.: |
0105538061204 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in international trading
business by importing,
distributing and exporting
wide range of
products |
|
|
|
|
No. of Employees : |
30 |
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 |
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|
|
|
Payment Behaviour : |
Slow but Correct |
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|
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 achieved steady growth due largely to industrial and agriculture exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods. Thailand is trying to maintain growth by encouraging domestic consumption and public investment to offset weak exports in 2012. Unemployment, at less than 1% of the labor force, stands as one of the lowest levels in the world, which puts upward pressure on wages in some industries. Thailand also attracts nearly 2.5 million migrant workers from neighboring countries. The Thai government is implementing a nation-wide 300 baht ($10) per day minimum wage policy and deploying new tax reforms designed to lower rates on middle-income earners. The Thai economy has weathered internal and external economic shocks in recent years. The global economic severely cut Thailand's exports, with most sectors experiencing double-digit drops. In 2009, the economy contracted 2.3%. However, in 2010, Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports rebounded. In late 2011 growth was interrupted by historic flooding in the industrial areas in Bangkok and its five surrounding provinces, crippling the manufacturing sector. Industry recovered from the second quarter of 2012 onward with GDP growth at 5.5% in 2012. The government has approved flood mitigation projects worth $11.7 billion, which were started in 2012, to prevent similar economic damage, and an additional $75 billion for infrastructure over the next seven years with a plan to start in 2013.
|
Source : CIA |
Company name
G.T. TRADING CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 20/9
MOO 21, SOI
WATPRADU,
RACHAPHRUK ROAD,
BANGRAMAD,
TALINGCHAN, BANGKOK
10170
TELEPHONE : [66] 2865-6544,
2865-6795-8, 081 874-4175
FAX :
[66] 2865-6791-3
E-MAIL
ADDRESS : info@gtrel.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1995
REGISTRATION
NO. : 0105538061204
TAX
ID NO. : 3011578452
CAPITAL REGISTERED : BHT. 15,000,000
CAPITAL PAID-UP : BHT.
15,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
NARINDER SINGH KUKREJA,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 30
LINES
OF BUSINESS : TRADING COMPANY
IMPORTER, DISTRIBUTOR
AND EXPORTER
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 May 22,
1995 as a
private limited company
under the registered
name G.T. TRADING CO.,
LTD. by Thai-Indian group, with
the objective to operate
as an international
trading company of
various kinds of products.
It currently employs
approximately 30 staff.
The
subject’s registered address is
20/9 Moo 21, Soi Watpradu,
Rachaphruk Rd., Bangramad,
Talingchan, Bangkok 10170,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
Mr. Narinder Singh Kukreja
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Narinder Singh Kukreja
is the Managing
Director.
He is Thai
nationality with the
age of 52
years old.
BUSINESS OPERATIONS
The subject
is engaged in
international trading business
by importing, distributing
and exporting wide
range of products
e.g. industrial yarns,
fibres and fabrics,
raw materials for tyres & textiles productions,
engineering plastics, handicrafts and general
items, which are
divided into 8
main products as
follows:
1.
Tyre
& Industrial Fabrics comprising nylon,
polyester, rayon, aramid
tyre cords, dipped & greige, all
type of beltings
of EP/NN greige & dipped coated
fabrics, nettings and
etc.
2.
Industrial & Tyre
Yarns comprising nylon,
polyester, rayon, aramid,
PP mono & multifilament.
3.
Textile
Fibres, Yarns & Wastes comprising
fibres, yarns & wastes
of acrylic, nylon,
polyester, rayon, viscose,
cotton, aramid etc.,
fancy & normal yarns of
acrylic, nylon, polyester,
blended and etc. for
knitting & weaving
industries.
4.
Textile Fabrics
comprising suitings, shirting,
knitted, woven fabrics
for fashion garment
and stock lots.
5.
Chips
& Resins comprising nylon,
polyester, PVC, HDPE,
PP etc., for spinning
engineering plastics
6.
Rubber Goods
comprising tyres, gloves,
condoms, latex, synthetic
rubbers, poly butyl
rubber, compounds, rubber
chemicals and etc.
7.
Handicrafts
& Artifacts comprising decorative
show pieces, handicrafts,
pottery, wooden &
metallic handicrafts, rose
wood, teak wood,
hard board furniture,
garden furniture and
etc.
8.
General Products
comprising cosmetics, toiletries,
paper, crockery, household
articles, food items
like packed fruits,
juices, packed seafood,
sugar and etc.
PURCHASE
The
products are purchased
from suppliers both domestic
and overseas, mainly
in India, Hong
Kong, Republic of
China, Japan, U.S.A.,
and European countries.
SALES
The products are
sold to customers
both local and
overseas, such as
India, Hog Kong,
Republic of China,
Taiwan, Singapore, U.S.A.,
and many countries
in Europe, Africa,
and Middle East
region.
RELATED AND AFFILIATED
COMPANY
G.T. Industrial Fibre
Co., Ltd.
Business Type :
Importer and distributor
of fiber 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
according to IRICO’S
DATABASE 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
The
banker’s name was
not disclosed.
EMPLOYMENT
The
subject currently employs
approximately 30 staff.
LOCATION
DETAILS
The
premise is owned for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
Branch
office is located
at 8/62 Moo
8, Soi Charansanitwong 35,
Charansanitwong Rd., Bangprom,
Talingchan, Bangkok 10170.
COMMENT
The
subject is an
importer, distributor and
exporter of variety products.
The subject’s business
in 2011 was
satisfactory despite there
was a massive
floods in the
country during the
last quarter.
The
subject disclosed good operating
performance in 2012.
There was a
demand of the
products and services
from local industrial
sector which contributes
to the subject’s
strong sales income.
Its business is
expanding considerably.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each with fully
paid.
The
capital was increased
later as follows:
Bht. 5,000,000
on November 20,
1995
Bht. 10,000,000
on November 25,
1998
Bht. 15,000,000
on March 17,
2009
The latest
registered capital was increased
to Bht. 15,000,000 divided
into 150,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Narinder Singh Kukreja Nationality: Thai Address : 8/40
Moo 8, Soi
Charansanitwong 35,
Bangprom, Talingchan, Bangkok
|
73,500 |
49.00 |
|
Mrs. Vanida Kukreja Nationality: Thai Address : 8/40
Moo 8, Soi
Charansanitwong 35,
Bangprom, Talingchan, Bangkok
|
67,400 |
44.92 |
|
Ms. Jaskiran Kukreja Nationality: Thai Address : 8/40
Moo 8, Soi
Charansanitwong 35,
Bangprom, Talingchan, Bangkok
|
7,500 |
5.00 |
|
Mr. Setthi Tudwan Nationality: Thai Address : 228/20
Teethong Rd., Wad
Rajbopit,
Phranakorn, Bangkok |
400 |
0.27 |
|
Mr. Bandit Singhnontachai Nationality: Thai Address : 577/139
Soi Charansanitwong 13,
Wadthaphra, Bangkokyai, Bangkok
|
400 |
0.27 |
|
Mrs. Karuna Tudwan Nationality: Thai Address : 528/13
Ladya Rd., Klongsan,
Bangkok |
400 |
0.27 |
|
Mrs. Jasmigor Singhnontachai Nationality: Thai Address : 577/139
Soi Charansanitwong 13,
Wadthaphra, Bangkokyai, Bangkok
|
400 |
0.27 |
Total Shareholders : 7
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
150,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
150,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Ratanachai Chorpaka No.
8513
BALANCE SHEET [BAHT]
The latest
financial figures published as at December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalents |
893,468.82 |
3,768,930.57 |
1,754,763.82 |
|
Short-term Investment |
21,003,550.16 |
20,656,211.09 |
20,272,757.59 |
|
Trade Accounts and
Other Receivable |
30,984,265.30 |
9,719,576.40 |
29,845,412.06 |
|
Inventories |
47,868,178.30 |
47,809,382.61 |
36,089,268.56 |
|
Deposit Goods |
2,512,571.88 |
3,436,640.91 |
6,220,701.98 |
|
Revenue Department Receivable |
598,851.20 |
588,006.37 |
805,895.66 |
|
Other Current Assets
|
884,400.00 |
1,460,406.01 |
640,444.80 |
|
|
|
|
|
|
Total Current Assets
|
104,745,285.66 |
87,439,153.96 |
95,629,244.47 |
|
|
|
|
|
|
Fixed Assets |
13,437,061.71 |
12,719,772.49 |
14,258,474.75 |
|
Other Non-current Assets |
1,363,535.64 |
482,050.00 |
1,616,555.88 |
|
Total Assets |
119,545,883.01 |
100,640,976.45 |
111,504,275.10 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
77,052,683.66 |
66,148,453.01 |
56,641,069.71 |
|
Trade Accounts and
Other Payable |
9,089,379.32 |
660,826.04 |
7,752,622.93 |
|
Trade Accounts Payable - Deposit |
973,337.65 |
570,772.64 |
- |
|
Accrued Expenses |
1,985,700.29 |
2,116,325.88 |
3,025,612.35 |
|
Account Payable -Commission |
1,589,074.69 |
1,547,981.49 |
4,533,819.39 |
|
Other Payable |
78,555.22 |
90,476.88 |
- |
|
Other Current Liabilities |
1,788,353.32 |
184,083.36 |
38,667.20 |
|
Accrued Income Tax |
75,329.35 |
772,160.46 |
1,282,310.45 |
|
|
|
|
|
|
Total Current Liabilities |
92,632,413.50 |
72,091,079.76 |
73,274,102.03 |
|
Long-term Loan |
4,164,997.00 |
5,923,289.65 |
11,266,709.08 |
|
Other Non-current Liabilities |
- |
- |
6,329,209.68 |
|
Total Liabilities |
96,797,410.50 |
78,014,369.41 |
90,870,020.79 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 150,000 shares |
15,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
|
|
|
|
|
Capital Paid |
15,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
Retained Earning Unappropriated |
7,748,472.51 |
7,626,607.04 |
5,634,254.31 |
|
Total Shareholders' Equity |
22,748,472.51 |
22,626,607.04 |
20,634,254.31 |
|
Total Liabilities &
Shareholders' Equity |
119,545,883.01 |
100,640,976.45 |
111,504,275.10 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
260,822,629.02 |
266,007,755.63 |
226,446,960.39 |
|
Interest Income |
557,094.92 |
422,202.00 |
672,214.22 |
|
Gain on Exchange Rate |
3,542,781.81 |
7,115,203.56 |
2,821,025.35 |
|
Other Income |
239,962.88 |
319,046.36 |
443,716.74 |
|
Total Revenues |
265,162,468.63 |
273,864,207.55 |
230,383,916.70 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
225,865,984.03 |
229,150,420.16 |
188,958,325.91 |
|
Selling Expenses |
10,434,514.67 |
15,568,092.45 |
10,851,670.47 |
|
Administrative Expenses |
25,483,194.31 |
22,723,739.38 |
21,766,913.17 |
|
Total Expenses |
261,783,693.01 |
267,442,251.99 |
221,576,909.55 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
3,378,775.62 |
6,421,955.56 |
8,807,007.15 |
|
Financial Costs |
[3,004,639.10] |
[3,292,624.05] |
[3,713,706.90] |
|
Profit / [Loss] before Income
Tax |
374,136.52 |
3,129,331.51 |
5,093,300.25 |
|
Income Tax |
[252,271.05] |
[1,136,978.78] |
[1,605,402.51] |
|
|
|
|
|
|
Net Profit / [Loss] |
121,865.47 |
1,992,352.73 |
3,487,897.74 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.13 |
1.21 |
1.31 |
|
QUICK RATIO |
TIMES |
0.57 |
0.47 |
0.71 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
19.41 |
20.91 |
15.88 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.18 |
2.64 |
2.03 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
77.36 |
76.15 |
69.71 |
|
INVENTORY TURNOVER |
TIMES |
4.72 |
4.79 |
5.24 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
43.36 |
13.34 |
48.11 |
|
RECEIVABLES TURNOVER |
TIMES |
8.42 |
27.37 |
7.59 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
14.69 |
1.05 |
14.98 |
|
CASH CONVERSION CYCLE |
DAYS |
106.03 |
88.44 |
102.84 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
86.60 |
86.14 |
83.44 |
|
SELLING & ADMINISTRATION |
% |
13.77 |
14.40 |
14.40 |
|
INTEREST |
% |
1.15 |
1.24 |
1.64 |
|
GROSS PROFIT MARGIN |
% |
15.07 |
16.81 |
18.29 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.30 |
2.41 |
3.89 |
|
NET PROFIT MARGIN |
% |
0.05 |
0.75 |
1.54 |
|
RETURN ON EQUITY |
% |
0.54 |
8.81 |
16.90 |
|
RETURN ON ASSET |
% |
0.10 |
1.98 |
3.13 |
|
EARNING PER SHARE |
BAHT |
0.81 |
13.28 |
23.25 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.81 |
0.78 |
0.81 |
|
DEBT TO EQUITY RATIO |
TIMES |
4.26 |
3.45 |
4.40 |
|
TIME INTEREST EARNED |
TIMES |
1.12 |
1.95 |
2.37 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(1.95) |
17.47 |
|
|
OPERATING PROFIT |
% |
(47.39) |
(27.08) |
|
|
NET PROFIT |
% |
(93.88) |
(42.88) |
|
|
FIXED ASSETS |
% |
5.64 |
(10.79) |
|
|
TOTAL ASSETS |
% |
18.78 |
(9.74) |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is -1.95%. Turnover has decreased from THB
266,007,755.63 in 2010 to THB 260,822,629.02 in 2011. While net profit has decreased
from THB 1,992,352.73 in 2010 to THB 121,865.47 in 2011. And total assets has
increased from THB 100,640,976.45 in 2010 to THB 119,545,883.01 in 2011.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
15.07 |
Impressive |
Industrial
Average |
11.62 |
|
Net Profit Margin |
0.05 |
Deteriorated |
Industrial
Average |
1.23 |
|
Return on Assets |
0.10 |
Deteriorated |
Industrial
Average |
2.12 |
|
Return on Equity |
0.54 |
Deteriorated |
Industrial
Average |
5.83 |
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
15.07%. 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 0.05%.
When compared with the industry average, the ratio of the company was lower.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. When compared with the
industry average, it was lower, the company's figure is 0.1%.
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 0.54%.
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 |
1.13 |
Acceptable |
Industrial
Average |
1.61 |
|
Quick Ratio |
0.57 |
|
|
|
|
Cash Conversion Cycle |
106.03 |
|
|
|
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 1.13 times in 2011, decreased from 1.21 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 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 0.57 times in 2011,
increased from 0.47 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 107 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.81 |
Acceptable |
Industrial
Average |
0.63 |
|
Debt to Equity Ratio |
4.26 |
Risky |
Industrial
Average |
1.74 |
|
Times Interest Earned |
1.12 |
Acceptable |
Industrial
Average |
1.68 |
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 1.13 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 0.81 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
19.41 |
Impressive |
Industrial
Average |
9.48 |
|
Total Assets Turnover |
2.18 |
Impressive |
Industrial
Average |
1.68 |
|
Inventory Conversion Period |
77.36 |
|
|
|
|
Inventory Turnover |
4.72 |
Satisfactory |
Industrial
Average |
4.77 |
|
Receivables Conversion Period |
43.36 |
|
|
|
|
Receivables Turnover |
8.42 |
Impressive |
Industrial
Average |
2.93 |
|
Payables Conversion Period |
14.69 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.42 and 27.37 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 increased from 76 days at the
end of 2010 to 77 days at the end of 2011. This represents a negative trend.
And Inventory turnover has decreased from 4.79 times in year 2010 to 4.72 times
in year 2011.
The company's Total Asset Turnover is calculated as 2.18 times and 2.64
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 Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.68 |
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.