MIRA
INFORM REPORT
|
Report Date : |
08.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
FUJI ACE CO., LTD. |
|
|
|
|
Registered Office : |
487/1 Si Ayutthaya
Road, Thanon Phayathai, Ratchathewi, Bangkok
10400, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
03.01.1995 |
|
|
|
|
Com. Reg. No.: |
0105538000175 |
|
|
|
|
Legal Form : |
PRIVATE LIMITED COMPANY |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and
Exporter of Shrink Sleeve Labels
and Flexible Packaging
Products |
|
|
|
|
No. of Employees : |
500 |
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 |
|
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
FUJI ACE CO., LTD.
SUMMARY
BUSINESS ADDRESS : 487/1 SI AYUTTHAYA
ROAD, THANON PHAYATHAI,
RATCHATHEWI, BANGKOK
10400, THAILAND
TELEPHONE : [66] 2246-0828
FAX : [66] 2246-0829
E-MAIL ADDRESS : sales@fujiace.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1995
REGISTRATION NO. : 0105538000175
TAX ID NO. : 3011519387
CAPITAL REGISTERED : BHT. 500,000,000
CAPITAL PAID-UP : BHT.
500,000,000
SHAREHOLDER’S PROPORTION : THAI
: 51%
JAPANESE : 49%
FISCAL YEAR CLOSING DATE : MARCH 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. HIROMITSU KOBAYASHI,
JAPANESE
PRESIDENT
NO. OF STAFF : 500
LINES OF BUSINESS : SHRINK SLEEVE
LABELS AND FLEXIBLE
PACKAGING PRODUCTS
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
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 January 3,
1995 as a
private limited company under
the registered name
FUJI ACE CO.,
LTD., by a
joint venture between
Thai and Japanese groups,
with the business
objective to manufacture
and distribute shrink
sleeve labels and
flexible packaging products
for various industries,
as well as
to import and
distribute labeling machine
systems for printing
and packaging industries.
It currently employs
approximately 500 staff.
The major shareholders
are Ace Pack [Thailand] Co.,
Ltd., and Fuji
Seal International Inc.,
Japan, with the holding
around 50.99% and
49% of the
subject’s shares respectively.
The subject’s registered
address is 487/1 Si Ayutthaya
Rd., Thanon Phayathai,
Ratchathewi, Bangkok 10400,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Hiromitsu Kobayashi |
[x] |
Japanese |
55 |
|
Mr. Ryusuke Konishi |
[x] |
Japanese |
52 |
|
Mr. Yoichiro Togashi |
[x] |
Japanese |
59 |
|
Mr. Ken Takeda |
|
Japanese |
66 |
|
Mr. Shigeko Okazaki |
|
Japanese |
56 |
|
Mr. Takahiro Kuratani |
|
Japanese |
60 |
|
Mr. Takayuki Ueda |
|
Japanese |
51 |
|
Mr. Varong Prayoonpong |
|
Thai |
46 |
AUTHORIZED PERSON
Any two of
the mentioned directors
[x] can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Hiromitsu Kobayashi is
the President.
He
is Japanese nationality
with the age of 55
years old.
Mr. Ryusuke Konishi is
the Vice President.
He is Japanese
nationality with the
age of 52
years old.
Mr. Yoshiyuki Miyaki is
the Factory Manager.
He
is Japanese nationality.
OPERATIONS
The subject is
engaged in manufacturing, distributing
and exporting of shrink
sleeve labels and
flexible packaging products
for various industries,
including pharmaceuticals, foods & beverages, cosmetics,
consumer products and etc.
It is also
importer and distributor of
labeling machine systems,
as well as
providing installation and
maintenance service for
printing and packaging
industries.
PURCHASE
Raw materials such
as PVC resin and
chemicals are purchased
from suppliers in
both domestic and
overseas, such as
Japan, Germany, U.S.A.,
Republic of China
and India, while
labeling machine is
imported from Japan.
MAJOR SUPPLIER
Fuji Seal International
Inc. : Japan
SALES
80% of the
products is sold
locally to wholesalers,
manufacturers and end-users,
the remaining 20%
is exported to
Japan.
MAJOR CUSTOMERS
Ajinomoto Co., Ltd. : Thailand
Oishi Group Public
Company Limited :
Thailand
Thai Namthip Co.,
Ltd. : Thailand
Unilever Thai Holding
Co., Ltd. : Thailand
Bio Manufacturing 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
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
Bangkok Bank Public
Co., Ltd.
Bank of Tokyo-Mitsubishi UFJ
Ltd.
EMPLOYMENT
The subject employs
approximately 500 office
staff and factory
workers.
LOCATION DETAILS
The premise is
owned for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
Factory/Warehouse :
Factory I : 242/2 Moo
1, Sukhumvit Rd.,
T. Bangpoomai, A. Muang,
Samutprakarn 10280.
Tel.: [66] 2709-0545-8.
Factory II : 30/38 Moo
1, Sinsakorn Industrial
Estate, Chetsadawithi Rd.,
T.
Kokkam, A. Muang, Samutsakorn
74000. Tel.: [66]
34 452-033-7.
COMMENT
The company, based
in Thailand covers
the ASEAN region
as the sales
area. It started
to produce and sell
shrink sleeve labels,
flexible package and
labeling machine systems.
It provides products
concerning packaging mainly
for beverages, commodities
and food products
by customer’s requests.
The products are
utilized and integrated
system covering from
designing through processing, to delivery to
the clients for
the best result
concerning packaging.
FINANCIAL INFORMATION
The capital was
registered at Bht. 250,000,000 divided
into 25,000,000 shares
of Bht. 10
each with fully
paid.
On November 19,
1997 the registered
capital was increased
to Bht. 500,000,000 divided
into 50,000,000 shares
of Bht. 10
each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[as at June
19, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Ace Pack [Thailand] Co.,
Ltd. Nationality: Thai Address : 487/1
Si Ayutthaya Rd.,
Thanon
Phayathai, Ratchathewi, Bangkok |
25,495,000 |
50.99 |
|
Fuji Seal International Inc. Nationality: Japanese Address : 5-3-18
Imasu-kita, Tsurumi-ku, Osaka-shi, Japan |
24,500,000 |
49.00 |
|
Ajinomoto Sales [Thailand] Co.,
Ltd. Nationality: Thai Address : 487/1
Si Ayutthaya Rd.,
Thanon
Phayathai, Ratchathewi, Bangkok |
1,000 |
|
|
AET Manufacturing Co.,
Ltd. Nationality: Thai Address : 487/1
Si Ayutthaya Rd.,
Thanon
Phayathai, Ratchathewi, Bangkok |
1,000 |
|
|
F D Green [Thailand]
Co., Ltd. Nationality: Thai Address : 487/1
Si Ayutthaya Rd.,
Thanon Phayathai, Ratchathewi, Bangkok
|
1,000 |
= 0.01 |
|
Bangkok Animal Research
Center Co., Ltd. Nationality: Thai Address : 487/1
Si Ayutthaya Rd.,
Thanon
Phayathai, Ratchathewi, Bangkok |
1,000 |
|
|
Si Ayutthaya Real
Estate Co., Ltd. Nationality: Thai Address : 487/1
Si Ayutthaya Rd.,
Thanon
Phayathai, Ratchathewi, Bangkok |
1,000 |
|
Total Shareholders : 7
Share Structure
[as at June 19,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
25,500,000 |
51.00 |
|
Foreign-Japanese |
1 |
24,500,000 |
49.00 |
|
Total |
7 |
50,000,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mrs. Thipawan Nananuwat No.
3459
BALANCE SHEET
The latest financial
figures published for
December 31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 [Adjusted] |
|
|
|
|
|
|
Cash in hand
& at Bank
|
66,975,993 |
48,256,593 |
29,273,110 |
|
Trade Account & Other
Receivable |
774,188,642 |
730,033,374 |
588,720,742 |
|
Related Company Receivable |
- |
- |
146,695 |
|
Inventories |
399,816,162 |
423,936,724 |
185,754,509 |
|
Other Current Assets Refundable Value
Added Tax |
43,737,484 |
31,877,054 |
- |
|
Prepayment for
Goods |
9,474,898 |
29,367,969 |
- |
|
Others |
7,870,821 |
3,218,941 |
10,197,602 |
|
|
|
|
|
|
Total Current Assets
|
1,302,064,000 |
1,266,690,655 |
814,092,658 |
|
Fixed Assets |
1,259,178,331 |
1,192,083,307 |
1,161,191,574 |
|
Deferred Income Tax |
831,703 |
26,165,320 |
9,425,937 |
|
Total Assets |
2,562,074,034 |
2,484,939,282 |
1,984,710,169 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 [Adjusted] |
|
|
|
|
|
|
Short-term Loan from Bank |
460,000,000 |
535,000,000 |
220,000,000 |
|
Trade Accounts &
Other Payable |
479,595,716 |
471,574,152 |
262,839,920 |
|
Related Company Payable |
- |
- |
29,993,929 |
|
Loan from Parent Company |
215,000,000 |
215,000,000 |
215,000,000 |
|
Current Portion of Finance
Lease Contract Liabilities |
9,027,633 |
6,150,641 |
828,179 |
|
Accrued Expenses |
- |
- |
32,037,118 |
|
Accrued Income Tax |
- |
- |
26,600,144 |
|
Other Current Liabilities |
5,106,915 |
3,609,795 |
13,053,274 |
|
|
|
|
|
|
Total Current Liabilities |
1,168,730,264 |
1,231,334,588 |
800,352,564 |
|
Finance Lease Contract
Liabilities, Net of
Current Portion |
4,791,900 |
6,458,583 |
2,059,751 |
|
Reserve for Long-term Employee
Benefit |
24,486,827 |
21,122,988 |
- |
|
Total Liabilities |
1,198,008,991 |
1,258,916,159 |
802,412,315 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 50,000,000 shares |
500,000,000 |
500,000,000 |
500,000,000 |
|
|
|
|
|
|
Capital Paid |
500,000,000 |
500,000,000 |
500,000,000 |
|
Unappropriated [Deficit] |
864,065,043 |
726,023,123 |
682,297,854 |
|
Total Shareholders' Equity |
1,364,065,043 |
1,226,023,123 |
1,182,297,854 |
|
Total Liabilities & Shareholders' Equity |
2,562,074,034 |
2,484,939,282 |
1,984,710,169 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 [Adjusted] |
|
|
|
|
|
|
Sales |
3,548,840,085 |
3,212,324,359 |
2,695,639,286 |
|
Other Income |
105,617,984 |
45,601,595 |
61,867,257 |
|
Total Revenues |
3,654,458,069 |
3,257,925,954 |
2,757,506,543 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
3,235,333,828 |
3,092,467,054 |
2,442,165,678 |
|
Selling Expenses |
141,938,683 |
127,610,470 |
98,433,244 |
|
Administrative Expenses |
78,897,887 |
83,712,257 |
87,933,858 |
|
Total Expenses |
3,456,170,398 |
3,303,789,781 |
2,628,532,780 |
|
|
|
|
|
|
Profit/[Loss] Financial Cost
& Income Tax |
198,287,671 |
[45,863,827] |
128,973,763 |
|
Financial Cost |
[28,451,611] |
[16,691,361] |
[22,658,876] |
|
Income Tax |
[31,794,140] |
10,109,740 |
[25,844,434] |
|
Net Profit / [Loss] |
138,041,920 |
[52,445,448] |
80,470,453 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.11 |
1.03 |
1.02 |
|
QUICK RATIO |
TIMES |
0.72 |
0.63 |
0.77 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.82 |
2.69 |
2.32 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.39 |
1.29 |
1.36 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
45.11 |
50.04 |
27.76 |
|
INVENTORY TURNOVER |
TIMES |
8.09 |
7.29 |
13.15 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
79.63 |
82.95 |
79.72 |
|
RECEIVABLES TURNOVER |
TIMES |
4.58 |
4.40 |
4.58 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
54.11 |
55.66 |
39.28 |
|
CASH CONVERSION CYCLE |
DAYS |
70.63 |
77.33 |
68.19 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.17 |
96.27 |
90.60 |
|
SELLING & ADMINISTRATION |
% |
6.22 |
6.58 |
6.91 |
|
INTEREST |
% |
0.80 |
0.52 |
0.84 |
|
GROSS PROFIT MARGIN |
% |
11.81 |
5.15 |
11.70 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
5.59 |
(1.43) |
4.78 |
|
NET PROFIT MARGIN |
% |
3.89 |
(1.63) |
2.99 |
|
RETURN ON EQUITY |
% |
10.12 |
(4.28) |
6.81 |
|
RETURN ON ASSET |
% |
5.39 |
(2.11) |
4.05 |
|
EARNING PER SHARE |
BAHT |
2.76 |
(1.05) |
1.61 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.47 |
0.51 |
0.40 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.88 |
1.03 |
0.68 |
|
TIME INTEREST EARNED |
TIMES |
6.97 |
(2.75) |
5.69 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
10.48 |
19.17 |
|
|
OPERATING PROFIT |
% |
(532.34) |
(135.56) |
|
|
NET PROFIT |
% |
363.21 |
(165.17) |
|
|
FIXED ASSETS |
% |
5.63 |
2.66 |
|
|
TOTAL ASSETS |
% |
3.10 |
25.20 |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 10.48%. Turnover has increased from THB
3,212,324,359.00 in 2010 to THB 3,548,840,085.00 in 2011. While net profit has increased
from THB -52,445,448.00 in 2010 to THB 138,041,920.00 in 2011. And total assets
has increased from THB 2,484,939,282.00 in 2010 to THB 2,562,074,034.00 in
2011.
PROFITABILITY : IMPRESSIVE
PROFITABILITY RATIO
|
Gross Profit Margin |
11.81 |
Impressive |
Industrial Average |
10.19 |
|
Net Profit Margin |
3.89 |
Satisfactory |
Industrial Average |
4.17 |
|
Return on Assets |
5.39 |
Impressive |
Industrial Average |
4.77 |
|
Return on Equity |
10.12 |
Satisfactory |
Industrial Average |
10.38 |
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 11.81%. 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 3.89%.
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. Return on Assets ratio is
5.39%, 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 10.12%.
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 |
1.11 |
Satisfactory |
Industrial Average |
1.18 |
|
Quick Ratio |
0.72 |
|
|
|
|
Cash Conversion Cycle |
70.63 |
|
|
|
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 1.11 times in 2011, increased from 1.03 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 0.72 times in 2011,
increased from 0.63 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 71 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.47 |
Impressive |
Industrial Average |
0.55 |
|
Debt to Equity Ratio |
0.88 |
Impressive |
Industrial Average |
1.23 |
|
Times Interest Earned |
6.97 |
Impressive |
Industrial Average |
6.01 |
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 6.97 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 : EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.82 |
Impressive |
Industrial Average |
2.44 |
|
Total Assets Turnover |
1.39 |
Impressive |
Industrial Average |
1.14 |
|
Inventory Conversion Period |
45.11 |
|
|
|
|
Inventory Turnover |
8.09 |
Impressive |
Industrial Average |
4.32 |
|
Receivables Conversion Period |
79.63 |
|
|
|
|
Receivables Turnover |
4.58 |
Impressive |
Industrial Average |
3.97 |
|
Payables Conversion Period |
54.11 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.58 and 4.40 in
2011 and 2010 respectively. This ratio measures the efficiency of the company in
managing its trade debtors to generate revenue. A lower ratio may indicate over
extension and collection problems. Conversely, a higher ratio may indicate an
overtly stringent policy. In this case, the company's A/R ratio in 2011
increased from 2010. This would suggest the company had good performance in the
management of its debt collections.
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has decreased from 50 days at the
end of 2010 to 45 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 7.29 times in year 2010 to 8.09 times
in year 2011.
The company's Total Asset Turnover is calculated as 1.39 times and 1.29
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.53.14 |
|
|
1 |
Rs.83.26 |
|
Euro |
1 |
Rs.71.93 |
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.