MIRA
INFORM REPORT
|
Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
CAULEY INTERNATIONAL [THAILAND] CO., LTD. |
|
|
|
|
Registered Office : |
3rd Floor, Golden Triangle Building, 502 Ratchadapisek Road, Samsennok, Huaykwang, Bangkok 10310 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
14.03.1996 |
|
|
|
|
Com. Reg. No.: |
0105539032402 [Former :
[2] 1285/2539] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Distributor of Integrated Currency
Automation System |
|
|
|
|
No. of Employees : |
79 |
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 |
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|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
thailand - ECONOMIC OVERVIEW
With a well-developed infrastructure, a free-enterprise economy, generally pro-investment policies, and strong export industries, Thailand enjoyed solid growth from 2000 to 2007 - averaging more than 4% per year - as it recovered from the Asian financial crisis of 1997-98. Thai exports - mostly machinery and electronic components, agricultural commodities, and jewelry - continue to drive the economy, accounting for more than half of GDP. The global financial crisis of 2008-09 severely cut Thailand's exports, with most sectors experiencing double-digit drops. In 2009, the economy contracted 2.3%. In 2010, Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports rebounded from their depressed 2009 level. Steady economic growth at just below 4% during the first three quarters of 2011 was interrupted by historic flooding in October and November in the industrial areas north of Bangkok, crippling the manufacturing sector and leading to a revised growth rate of only 0.1% for the year. The industrial sector is poised to recover from the second quarter of 2012 onward, however, and the government anticipates the economy will probably grow between 5.5 and 6.5% for 2012, while private sector forecasts range between 3.8% and 5.7%.
|
Source : CIA |
company name
CAULEY
INTERNATIONAL [THAILAND] CO., LTD.
SUMMARY
BUSINESS ADDRESS : 3rd
FLOOR, GOLDEN TRIANGLE
BUILDING,
502
RATCHADAPISEK ROAD, SAMSENNOK,
HUAYKWANG,
BANGKOK 10310, THAILAND
TELEPHONE : [66]
2541-4301-5
FAX : [66] 2541-4356
E-MAIL ADDRESS : sales@cauley.co.th
vip_services@cauley.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1996
REGISTRATION NO. : 0105539032402 [Former
: [2] 1285/2539]
TAX ID NO. : 3011700327
CAPITAL REGISTERED : BHT.
10,000,000
CAPITAL PAID-UP : BHT.
10,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING
DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
CHATCHAWAN LAOHATHAI, THAI
MANAGING DIRECTOR
NO. OF STAFF : 79
LINES OF BUSINESS : INTEGRATED CURRENCY
AUTOMATION SYSTEM
IMPORTER
AND DISTRIBUTOR
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
FOR NORMAL BUSINESS ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The subject was
established on March
14, 1996 as
a private limited
company under the name
style CAULEY INTERNATIONAL
[THAILAND] CO., LTD.,
by Thai groups
to provide product
and service for
integrated currency automation
system. It currently employs
79 staff.
The subject’s registered
address is 3rd Flr., Golden
Triangle Bldg., 502 Ratchadapisek Rd., Samsennok, Huaykwang,
Bangkok 10310, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Chatchawan Laohathai |
[x] |
Thai |
57 |
|
Ms. Yuwadee Leelahathorn |
|
Thai |
54 |
|
Mrs. Busakorn Leelahathorn |
|
Thai |
79 |
|
Mrs. Busarin Pattanachai |
|
Thai |
59 |
AUTHORIZED PERSON
Only the mentioned
director [x] signs
or two of
the rest directors
can jointly sign
on behalf of
the subject with
the company’s affixed.
MANAGEMENT
Mr. Chatchawan Laohathai
is the Managing
Director.
He is Thai
nationality with the
age of 57 years
old.
Mr. Pisith Sangpariwat
is the Sales
Manager.
He is Thai
nationality.
Mr. Vichai Presertsri
is the Services
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activities are
importer and sole
distributor wide range
of currency automation system
equipment and supplies.
Its products are as follows:
Products Brand
1. Banknote
- Banknote detector “MA”, “RIBAO”,
‘KAIXUN”
- Banknote counter “AMROTEC”, “SHINWOO”
- Banknote sorter “G
& D”
2. Coins
- Coin counter “RIBAO”, “AMROTEC”
- Coin sorter “REIS”, “AMROTEC”
- Coin
wrapping “REIS”
3. Software
- Banking
- Cash optimization & forecasting
- Enterprise tracking
and reconciliation
- Device monitoring
and profitability management
4. Accessories
- Seal
- Banknote pushcart
- Banknote security
paper, blank coins
- etc.
Subject has been
appointed as sole
agent in Thailand
of the following
companies:
- Giesecke & Devrient
GmbH, Germany [Cash
Processing System]
- Reis Eurosystems GmbH,
Germany [Coin Processing
System]
- Universal Machine Company,
U. S. A. [High Speed
Coin Counting System]
- Schuler Pressen GmbH
& Co. KG,
Germany [Coin Producing
Machinery]
Subject also provides consulting
& design for Cash & Coin Management
System, Inspection System,
Banknote/coin Counting and Sorting System, Packaging System including
Machine for Coin
Production, as well
as maintenance and
installation services.
Subject has also
been appointed as
representative from leading
Mint as follows:
- Austrian Mint Corporation,
Vienna, Austria
- Royal Canadian Mint,
Ottawa, Canada
IMPORT [COUNTRIES]
90% of the
products is imported
from Germany, Italy,
Republic of China,
Korea and United
States of America.
MAJOR SUPPLIERS
Giesecke & Devrient Gmbh :
Germany
Reis Eurosystems Gmbh :
Germany
Universal Machine Co.,
Ltd. :
U.S.A.
Schuler Pressen Gmbh
& Co KG : Germany
SALES [LOCAL]
The products are
sold to Thai
Government and general
banks.
EXPORT
Some of the
products are exported
to Laos.
MAJOR CUSTOMERS
|
Name |
Country |
|
|
|
|
Bank of Thailand |
Thailand |
|
The Treasury Department |
Thailand |
|
Krung Thai Bank
Public Co., Ltd. |
Thailand |
|
Siam Commercial Bank
Public Co., Ltd. |
Thailand |
|
Kasikornbank Public Co.,
Ltd. |
Thailand |
|
Central Treasure Division |
Thailand |
|
Bangkok Transit System |
Thailand |
|
Securicor [Thailand] Ltd. |
Thailand |
|
TOT Corporation Public
Co., Ltd. |
Thailand |
|
True Corporation Public
Co., Ltd. |
Thailand |
|
CAT Telecom Public
Co., Ltd. |
Thailand |
|
The Revenue Department |
Thailand |
|
Bank of The
Laos PDR. |
Laos |
|
TMB Bank Public
Co., Ltd. |
Thailand |
|
Citibank N.A. |
Thailand |
|
Thanachart Bank Public
Co., Ltd. |
Thailand |
|
Bangkok Metro Public
Co., Ltd. |
Thailand |
|
The Hong Kong
and Shanghai Banking Corporation |
Thailand |
|
GMM Grammy Public
Co., Ltd. |
Thailand |
|
CP All Public
Company Limited |
Thailand |
|
S & P Syndicate Public
Company Limited |
Thailand |
|
Sun 108 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
according to IRICO’S
DATABASE for the
past two years.
CREDIT
Selling terms are
by cash or
on the credits
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
and T/T.
Exports are against
T/T.
BANKING
Krung Thai Bank
Public Co., Ltd. :
[Samyod Branch]
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
79 staff. [office
and sales staff]
LOCATION DETAILS
The premise is rented
for administrative an office
at the heading
address. Premise is
in commercial/residential area.
COMMENT
The company’s products are sold to the government enterprises such as Treasury Department
and domestic banks nationwide. The subject’s
market is strong
with market expansion
continuously. The coin
press and bank
note printing machines
are sold to the
Treasury Department by
bidding, and coins
& bank note
counting machine can
be sold to the
general bank directly.
Subject is doing good
business and expanding
steadily.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 5,000,000 divided into
50,000 shares of
Bht. 100 each.
On September 12,
2008, the capital was
increased to Bht.
10,000,000 divided into
100,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED WERE
[as at April
30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Chatchawan Laohathai Nationality: Thai Address : 1472-1478/1-4 Songwad
Rd., Samphantawong, Bangkok |
96,900 |
96.90 |
|
Ms. Kingkarn Laohathai Nationality: Thai Address : 1/12
Sukhumvit 39 Rd.,
Klongton, Klongtoey, Bangkok |
500 |
0.50 |
|
Mrs. Busarin Pattanachai Nationality: Thai Address : 1/12
Sukhumvit 39 Rd.,
Klongton, Klongtoey, Bangkok |
500 |
0.50 |
|
Mr. Kris Norphong Nationality: Thai Address : 111/1
Rangnam Rd., Thanonphyathai,
Rajthevee, Bangkok |
500 |
0.50 |
|
Mrs. Busakorn Leelahathorn Nationality: Thai Address : 85/3
Dindaeng Rd., Samsennai,
Phyathai,
Bangkok |
500 |
0.50 |
|
|
|
|
|
Ms. Yuwadee Leelahathorn Nationality: Thai Address : 85/3
Dindaeng Rd., Samsennai,
Phyathai, Bangkok |
500 |
0.50 |
|
Mr. Vichai Prasertsri Nationality: Thai Address : 236
Krungthep - Nont Rd., Bangsue,
Bangkok |
300 |
0.30 |
|
Ms. Mayuree Patimapornthep Nationality: Thai Address : 232/110
Moo 6, Naimuang, Muang, Khon Kaen |
300 |
0.30 |
Total Shareholders : 8
Share Structure
[as at April
30, 2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
8 |
100,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
8 |
100,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mrs. Suchada Chawananont No.
2883
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 |
5,367,581.26 |
4,903,087.44 |
3,016,099.79 |
|
Short-term Investment |
1,364,240.07 |
830,988.05 |
72,632.83 |
|
Trade Accounts &
Other Receivable |
29,787,174.89 |
11,213,466.70 |
4,862,890.48 |
|
Short-term Lending to Person
or Related Company |
18,176,717.50 |
15,689,026.00 |
4,469,887.64 |
|
Inventories |
42,949,477.21 |
26,498,193.56 |
25,156,427.71 |
|
Other Current Assets
|
- |
- |
3,593,633.40 |
|
|
|
|
|
|
Total Current Assets
|
97,645,190.93 |
59,134,761.75 |
41,171,571.85 |
|
|
|
|
|
|
Fixed Assets |
21,479,973.57 |
23,849,396.87 |
22,209,997.38 |
|
Intangible Assets |
1,075,208.84 |
1,164,935.45 |
1,092,436.97 |
|
Total Assets |
120,200,373.34 |
84,149,094.07 |
64,474,006.20 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
27,493,886.26 |
5,566,574.61 |
6,456,560.26 |
|
Trade Accounts &
Other Payable |
26,320,988.76 |
15,519,909.81 |
2,806,453.80 |
|
Current Portion of
Long-term Liabilities |
582,669.50 |
1,425,921.88 |
1,147,230.00 |
|
Accrued Income Tax |
436,384.28 |
1,526,700.41 |
- |
|
Other Current Liabilities |
- |
- |
1,266,263.08 |
|
|
|
|
|
|
Total Current Liabilities |
54,833,928.80 |
24,039,106.71 |
11,676,507.14 |
|
Long-term Loan |
1,149,808.30 |
1,126,460.41 |
1,064,400.00 |
|
Total Liabilities |
55,983,737.10 |
25,165,567.12 |
12,740,907.14 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 100,000 shares |
10,000,000.00 |
10,000,000.00 |
10,000,000.00 |
|
|
|
|
|
|
Capital Paid |
10,000,000.00 |
10,000,000.00 |
6,250,000.00 |
|
Retained Earning Unappropriated |
54,216,636.24 |
48,983,526.95 |
45,483,099.06 |
|
Total Shareholders' Equity |
64,216,636.24 |
58,983,526.95 |
51,733,099.06 |
|
Total Liabilities & Shareholders' Equity |
120,200,373.34 |
84,149,094.07 |
64,474,006.20 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales & Services Income |
114,886,677.21 |
103,570,868.06 |
73,724,197.30 |
|
Other Income |
3,708,250.83 |
2,559,666.30 |
12,296,815.69 |
|
Total Revenues |
118,594,928.04 |
106,130,534.36 |
86,021,012.99 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
62,568,471.08 |
55,413,562.31 |
49,162,212.85 |
|
Selling Expenses |
22,802,651.65 |
14,222,948.42 |
10,345,943.73 |
|
Administrative Expenses |
23,447,145.98 |
29,334,595.08 |
23,177,820.26 |
|
Total Expenses |
108,818,268.71 |
98,971,105.81 |
82,685,976.84 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
9,776,659.33 |
7,159,428.55 |
3,335,036.15 |
|
Financial Cost |
[2,066,604.87] |
[1,127,505.37] |
[654,177.53] |
|
Profit before Income
Tax |
7,710,054.46 |
6,031,923.18 |
2,680,858.62 |
|
Income Tax |
[2,476,945.17] |
[2,531,495.29] |
[1,036,196.09] |
|
|
|
|
|
|
Net Profit / [Loss] |
5,233,109.29 |
3,500,427.89 |
1,644,662.53 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.78 |
2.46 |
3.53 |
|
QUICK RATIO |
TIMES |
1.00 |
1.36 |
1.06 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.35 |
4.34 |
3.32 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.96 |
1.23 |
1.14 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
250.55 |
174.54 |
186.77 |
|
INVENTORY TURNOVER |
TIMES |
1.46 |
2.09 |
1.95 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
94.64 |
39.52 |
24.08 |
|
RECEIVABLES TURNOVER |
TIMES |
3.86 |
9.24 |
15.16 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
153.55 |
102.23 |
20.84 |
|
CASH CONVERSION CYCLE |
DAYS |
191.64 |
111.83 |
190.01 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
54.46 |
53.50 |
66.68 |
|
SELLING & ADMINISTRATION |
% |
40.26 |
42.06 |
45.47 |
|
INTEREST |
% |
1.80 |
1.09 |
0.89 |
|
GROSS PROFIT MARGIN |
% |
48.77 |
48.97 |
50.00 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
8.51 |
6.91 |
4.52 |
|
NET PROFIT MARGIN |
% |
4.56 |
3.38 |
2.23 |
|
RETURN ON EQUITY |
% |
8.15 |
5.93 |
3.18 |
|
RETURN ON ASSET |
% |
4.35 |
4.16 |
2.55 |
|
EARNING PER SHARE |
BAHT |
52.33 |
35.00 |
26.31 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.47 |
0.30 |
0.20 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.87 |
0.43 |
0.25 |
|
TIME INTEREST EARNED |
TIMES |
4.73 |
6.35 |
5.10 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
10.93 |
40.48 |
|
|
OPERATING PROFIT |
% |
36.56 |
114.67 |
|
|
NET PROFIT |
% |
49.50 |
112.84 |
|
|
FIXED ASSETS |
% |
(9.93) |
7.38 |
|
|
TOTAL ASSETS |
% |
42.84 |
30.52 |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 10.93%. Turnover has increased from THB 103,570,868.06
in 2010 to THB 114,886,677.21 in 2011. While net profit has increased from THB
3,500,427.89 in 2010 to THB 5,233,109.29 in 2011. And total assets has
increased from THB 84,149,094.07 in 2010 to THB 120,200,373.34 in 2011.
PROFITABILITY : EXCELLENT
PROFITABILITY RATIO
|
Gross Profit Margin |
48.77 |
Impressive |
Industrial Average |
19.71 |
|
Net Profit Margin |
4.56 |
Impressive |
Industrial Average |
2.12 |
|
Return on Assets |
4.35 |
Impressive |
Industrial Average |
3.30 |
|
Return on Equity |
8.15 |
Impressive |
Industrial Average |
7.27 |
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 48.77%. 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
4.56%, 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
4.35%, 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 8.15%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY : ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.78 |
Impressive |
Industrial Average |
1.73 |
|
Quick Ratio |
1.00 |
|
|
|
|
Cash Conversion Cycle |
191.64 |
|
|
|
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 1.78 times in 2011, decreased from 2.46 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 1 time in 2011,
decreased from 1.36 times, by excluding inventory, the company may have
problems meeting current liabilities.
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 192 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.47 |
Impressive |
Industrial Average |
0.54 |
|
Debt to Equity Ratio |
0.87 |
Impressive |
Industrial Average |
1.22 |
|
Times Interest Earned |
4.73 |
Impressive |
Industrial Average |
4.00 |
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 4.74 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 0.47 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 Downtrend
Times Interest Earned Uptrend
ACTIVITY : ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
5.35 |
Satisfactory |
Industrial Average |
6.76 |
|
Total Assets Turnover |
0.96 |
Acceptable |
Industrial Average |
1.53 |
|
Inventory Conversion Period |
250.55 |
|
|
|
|
Inventory Turnover |
1.46 |
Deteriorated |
Industrial Average |
3.48 |
|
Receivables Conversion Period |
94.64 |
|
|
|
|
Receivables Turnover |
3.86 |
Satisfactory |
Industrial Average |
4.47 |
|
Payables Conversion Period |
153.55 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.86 and 9.24 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 175 days at the
end of 2010 to 251 days at the end of 2011. This represents a negative trend.
And Inventory turnover has decreased from 2.09 times in year 2010 to 1.46 times
in year 2011.
The company's Total Asset Turnover is calculated as 0.96 times and 1.23
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 Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
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.