MIRA
INFORM REPORT
|
Report Date : |
04.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHALERMCHAICHAN COMPANY LIMITED |
|
|
|
|
Registered Office : |
536 Ekachai Road, Kwaeng
Bangbon, Khet Bangbon, Bangkok 10150 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
28.11.1991 |
|
|
|
|
Com. Reg. No.: |
0105534113153 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
Manufacturing,
distributing and contracted
manufacturing various kinds
of printing ink
especially for printing
house |
|
|
|
|
No. of Employees : |
300 |
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 but correct |
|
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 crisis 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 and address
CHALERMCHAICHAN COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 536
EKACHAI ROAD, KWAENG
BANGBON,
KHET BANGBON,
BANGKOK 10150
TELEPHONE : [66] 2416-0155-9,
2898-9050-69
FAX :
[66] 2416-0587,
2416-6778, 2898-9057
E-MAIL
ADDRESS : rockets@chalermchaichan.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1991
REGISTRATION
NO. : 0105534113153 [Former: 11314/2534]
TAX
ID NO. : 3011036235
CAPITAL REGISTERED : BHT. 300,000,000
CAPITAL PAID-UP : BHT.
172,500,000
SHAREHOLDERS
PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
MITR CHALERMCHAICHAN, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 300
LINES
OF BUSINESS : PRINTING INK
MANUFACTURER, 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 November
28, 1991 as a
private limited company
under the name
style CHALERMCHAICHAN COMPANY
LIMITED by Chalermchaichan family,
in order to
manufacture and market
printing ink to
both domestic and
overseas markets. It
currently employs approximately 300 staff.
It achieved ISO :
9001 and ISO 9001 : 2000 certification
from AJA registrars for design
and manufacture the
products on May 8, 2000 and September 23, 2003, respectively.
The subject’s registered
address was initially
located at 121/1 Moo 6, Ekachai Rd.,
Bangbon, Bangkhunthien, Bangkok
10150.
On
January 11, 2010,
the subject’s registered
address was changed
from “121/1 Moo 6” to “536” Ekachai
Rd., Kwaeng Bangbon,
Khet Bangbon, Bangkok 10150, by the
Bangbon District Office,
actually both are
the same location.
This is also
the subject’s current
operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Mitr Chalermchaichan |
|
Thai |
70 |
|
Mr. Prutipong Chalermchaichan |
|
Thai |
41 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Mitr Chalermchaichan is
the Managing Director.
He is Thai
nationality with the
age of 70
years old.
Mr. Prutipong Chalermchaichan is the Sales
& Marketing Manager.
He is Thai
nationality with the
age of 41
years old.
Mr. Pinyo Pisutkulchai is
the Factory Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activities
are manufacturing, distributing
and contracted manufacturing
various kinds of
printing ink especially
for printing house,
under its own
brands “ROCKET INKS” and
“ARROW”, as well
as customer’s brands.
The products are
as follows:
- Offset
ink products: Offset,
Air-set [glycol base ink],
Roller Coating, Polynylon, and
Metal Decorating [tinplate].
- Gravuare
Ink: surface and
reverse.
- Flexo
Ink: water base
Flexo Ink, Overprint Varnish,
Block Cleaner and
Antifoam.
PRODUCTION CAPACITY
8,000 tons per
month
IMPORT [COUNTRIES]
50% of raw
materials and chemicals
are imported from Japan,
Singapore, Taiwan,
Republic of China,
India, Malaysia and
United States of
America.
MAJOR SUPPLIERS
|
BASF [Thai] Co., Ltd. |
: Thailand |
|
San Mic Chiyoda
Corp. |
: Japan |
|
Sanwa Chemical Pte.
Ltd. |
: Singapore |
|
Cinamon [Thailand] Co., Ltd. |
: Thailand |
|
Dainichiseika Color &
Chemicals Mfg. Ltd. |
: Japan |
|
BASF Singapore Pte.
Ltd. |
: Singapore |
SALES [LOCAL]
90% of its
products is sold
locally by wholesale
to dealers, manufacturers
and
end-users.
EXPORT [COUNTRIES]
10% of its products
is exported to Singapore,
Malaysia, India, Japan,
Korea, Vietnam, Republic
of China, Indonesia and
Taiwan.
MAJOR CUSTOMERS
|
The Vacharapol Co.,
Ltd. |
: Thailand |
|
Matichon Co., Ltd. |
: Thailand |
|
Siphya Printing Co.,
Ltd. |
: Thailand |
SUBSIDIARY
AND AFFILIATED COMPANY
The subject is
not found to have
any subsidiary or affiliated
company here in
Thailand.
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
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 on
the credit term
of 30 days.
Exports are against
T/T.
BUSINESS TRANSACTION
The products are
sold both by
cash and on
the credits term
of 30-60 days.
The subject is
not found to
have problem on
its account receivable.
BANKING
Krung Thai Bank
Public Co., Ltd.
[Rajawong Branch : 80-82 Anuwong
Rd., Chakrawad, Samphantawong, Bangkok
10100]
Kasikornbank Public Co.,
Ltd.
United Overseas Bank
[Thai] Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
300 office staff
and factory workers.
LOCATION DETAILS
The premise is
owned for administrative office
and factory at
the heading address.
Premise is located
in an industrial
area.
Warehouse is located
at 28, 28/1-5 Ekachai
66/4 Rd., Kwaeng
Bangbon, Khet Bangbon,
Bangkok 10150.
COMMENT
The subject’s business
performance in 2012 was
outstanding due to consumption
demand in local
market remains strong
from printing industry. However, demand
of printing ink
industry has continued
improving from expansion of
publishing and packaging
industry.
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each.
The capital was
increased later as
followings:
Bht. 5,000,000
on July 29,
1992
Bht. 10,000,000
on February 4,
1993
Bht. 100,000,000
on September 14,
1999
Bht. 300,000,000
on July 18,
2007
The latest registered
capital was increased
to Bht. 300,000,000
divided into 30,000,000
shares of Bht.
10 each, with
the current capital
paid-up at Bht.
172,500,000.
THE SHAREHOLDERS LISTED
WERE : [as at
April 30, 2013]
at Bht. 172,500,000 of
capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Mitr Chalermchaichan Nationality: Thai Address : 536/1 Ekachai
Rd., Kwaeng Bangbon, Khet Bangbon,
Bangkok |
27,249,995 |
90.84 |
|
Mr. Prutipong Chalermchaichan Nationality: Thai Address : 536/1 Ekachai
Rd., Kwaeng Bangbon, Khet Bangbon,
Bangkok |
1,000,000 |
3.33 |
|
Ms. Sasiorn Chalermchaichan Nationality: Thai Address : 536/1 Ekachai
Rd., Kwaeng Bangbon, Khet Bangbon,
Bangkok |
1,000,000 |
3.33 |
|
Ms. Vorawan Chalermchaichan Nationality: Thai Address : 536/1 Ekachai
Rd., Kwaeng Bangbon, Khet Bangbon,
Bangkok |
750,000 |
2.50 |
|
Mr. Sakolsak Yingpromlikit Nationality: Thai Address : 3/499 Moo
6, Kwaeng Bangbon, Khet Bangbon,
Bangkok |
1 |
- |
|
Ms. Boontong Thoraman Nationality: Thai Address : 11 Moo
3, Kwaeng Bangbon, Khet Bangbon,
Bangkok |
1 |
- |
|
Ms. Sommai Polpal Nationality: Thai Address : 2 Moo
2, T. Rangraeng, A.
Uthumpornpisai, Seesaket |
1 |
- |
|
Mrs. Duang Namtasaeng Nationality: Thai Address : 3 Moo
5, T. Khaosuankwang, A.
Khaosuankwang, Khon Kaen |
1 |
- |
|
Ms. Sayim Chitralak Nationality: Thai Address : 62 Moo
10, T. Praibueng, A.
Praibueng, Sisaket |
1 |
- |
Total Shareholders : 9
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
9 |
30,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
9 |
30,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Chaveewan Khampanont
No. 0378
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2012, 2011 & 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
64,663,818.27 |
62,420,027.95 |
41,628,970.78 |
|
Trade Accounts & Other Receivable |
284,528,631.24 |
306,434,653.28 |
290,578,151.05 |
|
Inventories |
140,234,346.80 |
144,340,969.53 |
139,261,436.41 |
|
Other Current Assets
|
1,411,268.78 |
3,752,309.88 |
1,894,106.04 |
|
|
|
|
|
|
Total Current Assets
|
490,838,065.09 |
516,947,960.64 |
473,362,664.28 |
|
Fixed Assets |
167,465,348.85 |
161,434,703.21 |
160,212,161.35 |
|
Investment in Related
Company |
13,500,000.00 |
9,000,000.00 |
6,000,000.00 |
|
Other Assets |
2,047,498.07 |
2,123,599.47 |
2,249,749.47 |
|
Total Assets |
673,850,912.01 |
689,506,263.32 |
641,824,575.10 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial Institution |
- |
62,125,575.69 |
62,614,845.21 |
|
Trade Account & Notes
Payable |
129,108,648.37 |
149,471,313.38 |
147,336,256.24 |
|
Current Portion of Long-term Liabilities |
14,614,980.00 |
18,978,000.00 |
34,191,312.57 |
|
Short-term Loan from
Related Person |
2,800,000.00 |
- |
- |
|
Accrued Expenses |
3,654,468.05 |
2,100,748.64 |
2,579,037.17 |
|
Other Current Liabilities |
5,157,498.67 |
2,215,659.56 |
2,408,751.41 |
|
|
|
|
|
|
Total Current Liabilities |
155,335,595.09 |
234,891,297.27 |
249,130,202.60 |
|
Long-term Liabilities |
297,079,395.00 |
234,520,000.00 |
180,670,110.46 |
|
Total Liabilities |
452,414,990.09 |
469,411,297.27 |
429,800,313.06 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10 par
value Authorized & issued
share capital
30,000,000 shares |
300,000,000.00 |
300,000,000.00 |
300,000,000.00 |
|
|
|
|
|
|
Capital Paid |
172,500,000.00 |
172,500,000.00 |
172,500,000.00 |
|
Retained Earning - Unappropriated |
48,935,921.92 |
47,594,966.05 |
39,524,262.04 |
|
Total Shareholders' Equity |
221,435,921.92 |
220,094,966.05 |
212,024,262.04 |
|
Total Liabilities &
Shareholders' Equity |
673,850,912.01 |
689,506,263.32 |
641,824,575.10 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales - International |
13,648,566.96 |
18,436,316.47 |
19,433,434.98 |
|
Sales - Domestic |
737,652,654.52 |
730,993,156.00 |
716,961,504.18 |
|
Other Income |
1,661,842.99 |
1,725,377.46 |
4,941,261.98 |
|
Total Revenues |
752,963,064.47 |
751,154,849.93 |
741,336,201.14 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
650,962,408.89 |
669,593,820.25 |
654,471,154.37 |
|
Selling & Administrative Expenses |
79,264,058.81 |
55,556,009.27 |
63,098,439.12 |
|
Total Expenses |
730,226,467.70 |
725,149,829.52 |
717,569,593.49 |
|
|
|
|
|
|
Profit before Financial
Cost and Income
Tax |
22,736,596.77 |
26,005,020.41 |
23,766,607.65 |
|
Financial Cost |
[14,368,464.57] |
[14,439,871.03] |
[12,877,044.07] |
|
|
|
|
|
|
Profit before Income Tax |
8,368,132.20 |
11,565,149.38 |
10,889,563.58 |
|
Income Tax |
[7,027,176.33] |
[3,494,445.37] |
[3,284,213.05] |
|
Net Profit / [Loss] |
1,340,955.87 |
8,070,704.01 |
7,605,350.53 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.16 |
2.20 |
1.90 |
|
QUICK RATIO |
TIMES |
2.25 |
1.57 |
1.33 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.49 |
4.64 |
4.60 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.11 |
1.09 |
1.15 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
78.63 |
78.68 |
77.67 |
|
INVENTORY TURNOVER |
TIMES |
4.64 |
4.64 |
4.70 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
138.23 |
149.25 |
144.03 |
|
RECEIVABLES TURNOVER |
TIMES |
2.64 |
2.45 |
2.53 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
72.39 |
81.48 |
82.17 |
|
CASH CONVERSION CYCLE |
DAYS |
144.47 |
146.45 |
139.52 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
86.64 |
89.35 |
88.88 |
|
SELLING & ADMINISTRATION |
% |
10.55 |
7.41 |
8.57 |
|
INTEREST |
% |
1.91 |
1.93 |
1.75 |
|
GROSS PROFIT MARGIN |
% |
13.58 |
10.88 |
11.80 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.03 |
3.47 |
3.23 |
|
NET PROFIT MARGIN |
% |
0.18 |
1.08 |
1.03 |
|
RETURN ON EQUITY |
% |
0.61 |
3.67 |
3.59 |
|
RETURN ON ASSET |
% |
0.20 |
1.17 |
1.18 |
|
EARNING PER SHARE |
BAHT |
0.08 |
0.47 |
0.44 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.67 |
0.68 |
0.67 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.04 |
2.13 |
2.03 |
|
TIME INTEREST EARNED |
TIMES |
1.58 |
1.80 |
1.85 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
0.25 |
1.77 |
|
|
OPERATING PROFIT |
% |
(12.57) |
9.42 |
|
|
NET PROFIT |
% |
(83.38) |
6.12 |
|
|
FIXED ASSETS |
% |
3.74 |
0.76 |
|
|
TOTAL ASSETS |
% |
(2.27) |
7.43 |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is 0.25%. Turnover has increased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
13.58 |
Impressive |
Industrial
Average |
1.16 |
|
Net Profit Margin |
0.18 |
Deteriorated |
Industrial
Average |
7.80 |
|
Return on Assets |
0.20 |
Deteriorated |
Industrial
Average |
11.70 |
|
Return on Equity |
0.61 |
Deteriorated |
Industrial
Average |
21.17 |
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 13.58%. 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 0.18%.
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 0.2%.
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 0.61%.
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 |
3.16 |
Impressive |
Industrial
Average |
2.00 |
|
Quick Ratio |
2.25 |
|
|
|
|
Cash Conversion Cycle |
144.47 |
|
|
|
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 3.16 times in 2012, increased from 2.2 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 2.25 times in 2012,
increased from 1.57 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 145 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 |
0.42 |
|
Debt to Equity Ratio |
2.04 |
Risky |
Industrial
Average |
0.71 |
|
Times Interest Earned |
1.58 |
Impressive |
Industrial
Average |
- |
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 1.59 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 Downtrend
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
4.49 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.11 |
Acceptable |
Industrial
Average |
1.50 |
|
Inventory Conversion Period |
78.63 |
|
|
|
|
Inventory Turnover |
4.64 |
Acceptable |
Industrial
Average |
6.43 |
|
Receivables Conversion Period |
138.23 |
|
|
|
|
Receivables Turnover |
2.64 |
Satisfactory |
Industrial
Average |
3.35 |
|
Payables Conversion Period |
72.39 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.64 and
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 is 79 days at the end of 2011, same
number of days
as in 2012.
And Inventory turnover has increased from 4.64 times in year 2011 to
4.64 times in year 2012.
The company's Total Asset Turnover is calculated as 1.11 times and 1.09
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 Downtrend
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.46 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.