MIRA
INFORM REPORT
|
Report Date : |
12.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ITALASIA TRADING [THAILAND] CO., LTD. |
|
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Registered Office : |
30th Floor, Oriflame Asoke Tower, 253 Sukhumvit 21 Road, Klongtoey, Bangkok 10110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
05.02.1996 |
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|
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Com. Reg. No.: |
0105539015397 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer & Distributor of Foods & Beverage |
|
|
|
|
No. of Employees : |
50 |
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 (31.03.2011) |
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
ITALASIA
TRADING [THAILAND] CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 30th
FLOOR, ORIFLAME ASOKE
TOWER,
253 SUKHUMVIT
21 ROAD, KLONGTOEY,
BANGKOK 10110,
THAILAND
TELEPHONE : [66] 2261-7990-9
FAX : [66] 2261-8700
E-MAIL
ADDRESS : order@italasiagroup.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1996
REGISTRATION
NO. : 0105539015397 [ Former
: [2] 595/2539]
TAX
ID NO. : 3011691236
CAPITAL REGISTERED : BHT. 10,000,000
CAPITAL PAID-UP : BHT.
10,000,000
SHAREHOLDER’S PROPORTION : THAI :
99.99%
ITALIAN :
0.01%
FISCAL YEAR CLOSING DATE : DECEMBER
31
LEGAL
STATUS : PRIVATE
LIMITED COMPANY
EXECUTIVE : MR.
CHAKKRIT BENEDETTI, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 50
LINES
OF BUSINESS : FOODS
& BEVERAGE
IMPORTER &
DISTRIBUTOR
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
February 5, 1996
as a private limited company under the name style ITALASIA
TRADING [THAILAND] CO., LTD. by
Thai and Italian
partners, in order to
distribute wide ranges
of food and
beverage products. It
is a member
of Italasia Group
of companies. The
subject currently employs
approximately 50 staff.
The
subject’s registered address
is 30th Floor, Oriflame
Asoke Tower, 253 Sukhumvit
21 Rd., Klongtoey,
Bangkok 10110, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
Nationality
|
Age
|
|
|
|
|
|
Mr.
Chakkrit Benedetti |
Thai |
37 |
AUTHORIZED PERSON
The
mentioned director signs
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr.
Chakkrit Benedetti is
the Managing Director.
He
is Thai nationality
with the age
of 37 years
old.
He
has been in
this position since
2000.
Mrs.
Vanida Hongsuebchart is
the Account &
Finance Manager.
She
is Thai nationality.
She has been
in this position
since 2000.
Mr. Claudio
Cattarin is the
Director of Food & Beverage Division.
He
is American nationality.
BUSINESS OPERATIONS
The
subject is engaged
in importing and
distributing various kinds
of international foods
& beverages. Its
products and brands
are as follows:
1.
Wine
Brands: “Piemonte”, “Lombardia”,
“Trentino”, “Friuli”, “Ikon”,
“Veneto”, “Tuscany”,
“Umbria”, “Marche
Lazio”, “Campania”, “Puglia”,
“Sicilia”, “Jean Dupont”,
“Santa Helena”,
“Ostatu Rioja”, “PB
Valley” and others
with over 100
brands.
2.
Coffee & Tea
Brand : “Illy”
3.
Mineral Water
Brand : “San Benedetto”
4.
Tomato Paste
Brand : “San Marzano”
5.
Syrup
Brand : “Monin”
6.
Spirits
Brands: Gin -“Brokers”, “Krahn”,
Vodga - “Rubiskia”, Grappa -
“Nonino”,
Tequila - “Rose”, Whisky - “Glenfiddich”, Rum & Cachaca - “Leblon”,
Absinthe - “Lafee”, Liqueurs - “Valeska”, “Cristani”,
“Averna”, “Lemonello”
7.
Olive Oil
Brand : “Olitalia”
8.
Aromatic Oil
Brand : “Olitalia”
9.
Pasta & Spaghetti
Brand : “Delverde”
10.Ham
and Pork
Brands: “Negrori”, “Stella”
IMPORT
90%
of the products
is imported from around
30-40 overseas suppliers in Italy,
Germany, United States of
America, France, Australia,
Spain, Argentina, Chile,
Hungary, United Kingdom
and Russia.
MAJOR
SUPPLIERS
Chistiani
Import Liqueur : Italy
Dececco
Import Pasta : Italy
Monin
Ltd. :
France
Delverde
Industrie Alimentary S.p.a. : Italy
SALES
[LOCAL]
The
products are sold
directly by wholesale to
around 100 dealers,
including hotels and
restaurants and leading supermarkets
nationwide, as well
as sold to
retailer through its
branches/shops in the
major provinces.
SUBSIDIARY AND
AFFILIATED COMPANY
Italasia Electro
Co., Ltd.
Business
Type : Importer and
distributor of fast
food & hotel
equipment, providing
installation &
after sales service
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
credit term of
30 days.
Local
bills are paid
by cash or
on the credits
term of 30-60
days.
Imports
are by L/C
or T/T on
the credit term
of 30 days.
BUSINESS TRANSACTION
In term
of sales, the
products are sold
to dealers with
the maximum credit
given at 30
days, and sold
to retailer by
cash. The subject is found to
have around 15-20% of the customers for late
payment. In term of purchasing, the products are purchased from overseas
suppliers by L/C and T/T at 30 days credit given. The subject is not found to have payment
problem with any suppliers.
BANKING
Siam
Commercial Bank Public
Co., Ltd.
[Asoke Branch : Sukhumvit 21
Rd., Klongtoeynua, Wattana, Bangkok
10110]
[Head Office :
9 Ratchadapisek Rd., Jomphol,
Jatujak, Bangkok 10900]
Bangkok
Bank Public Co.,
Ltd.
[Siam Square Branch : Rama
1 Rd., Pathumwan,
Bangkok 10330]
[Head Office :
333 Silom Rd.,
Silom, Bangrak, Bangkok
10500]
TMB
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
50 staff. [office
and sales staff]
LOCATION DETAILS
The
premised is rented
for administrative office and
warehouse at the
heading address. Premise
is located in a prime
commercial area.
SHOWROOMS/BRANCHES
There
are 8 branches/showrooms in
provincial as follows:
-
Ground Floor, 253
Sukhumvit 21 Rd.,
Klongtoeynua, Wattana, Bangkok
- 4th/
Floor, Silom Complex
Bldg, 191 Silom
Rd, Silom, Bangrak,
Bangkok 10500.
-
80/40 Moo 7,
Chaofah Rd, T. Chalong,
A. Muang, Phuket
83000.
-
7/19-20 Moo 1, Robkoh
Rd, T. Maenam,
A. Samui Island,
Suratthani 84330.
-
189/52 Moo 3,
Chiengmai - Maejo
Rd., T. Fahham,
A. Muang, Chiengmai
50000.
- 1st/Floor, All
Seasons Place, 130
Wireless Rd., Lumpini, Pathumwan,
Bangkok 10330.
-
Room 110, 112,
K3 Building, Crystal
Design Center, 1420/1
Praditmanutham Rd.,
Klongkhum, Bangkok 10240.
- 1st Floor,
Mega Bangna Bldg,
59 Moo 6,
Bangna-Trad Rd., T. Bangkaew,
A.
Bangplee, Samutprakarn 10540.
COMMENT
The subject carries premium products which
are well known in the leading supermarket such as ILLY coffee, DECECCO
pasta and tomato
sauces as well
as lists of wine and
liquors.
This year consumption of premium foods and
beverages from local consumers has continued
growing from last year’s
level. With the strong market position
and well known products, it is believed
that the subject would
be able to maintain
its sales at
satisfactory level.
FINANCIAL INFORMATION
The
capital was registered
at 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.
Chakkrit Benedetti Nationality: Thai Address
: 50 Sukhumvit 31
Rd., Klongton, Prakanong, Bangkok 10110 |
24,999 |
25.00 |
|
Ms.
Pha Benedetti Nationality: Thai Address
: 50 Sukhumvit 31
Rd., Klongton, Prakanong, Bangkok 10110 |
24,998 |
25.00 |
|
Mrs.
Paoleena Na Nakorn Nationality: Thai Address
: 50 Sukhumvit 31
Rd., Klongton, Prakanong, Bangkok 10110 |
20,000 |
20.00 |
|
Ms.
Patriya Na Nakorn Nationality: Thai
Address
: 50 Sukhumvit 31
Rd., Klongton, Prakanong, Bangkok 10110 |
14,999 |
15.00 |
|
Mr.
Ben Na Nakorn Nationality: Thai Address
: 50 Sukhumvit 31
Rd., Klongton, Prakanong, Bangkok 10110 |
14,999 |
15.00 |
|
Mrs.
Jart Thonavanik Benedetti Nationality: Italian Address
: 50 Sukhumvit 31 Rd.,
Klongton, Prakanong, Bangkok 10110 |
4 |
- |
|
Mr.
Aldofo Benedetti Nationality: Italian Address
: 50 Sukhumvit 31
Rd., Klongton, Prakanong, Bangkok
10110 |
1 |
- |
Total
Shareholders : 7
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
99,995 |
99.99 |
|
Foreign - Italian |
2 |
5 |
0.01 |
|
Total |
7 |
100,000 |
100.00 |
NAME
OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO. :
Maj. Nakorn
Thongmee No.
402
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash in Hand
& at Bank |
1,539,019.76 |
482,515.51 |
1,363,993.17 |
|
Short-term Investment |
6,634,369.13 |
6,563,473.50 |
6,537,603.74 |
|
Trade Accounts &
Other Receivable |
186,909,469.53 |
146,022,980.33 |
114,247,133.83 |
|
Inventories |
11,726,189.83 |
7,692,894.88 |
6,011,523.00 |
|
Other Current Assets
|
- |
- |
1,540,007.34 |
|
|
|
|
|
|
Total Current Assets
|
206,809,048.25 |
160,761,864.22 |
129,700,261.08 |
|
Fixed Assets |
8,760,015.14 |
8,199,907.37 |
8,255,388.06 |
|
Other Non-current Assets |
2,108,929.27 |
2,246,316.86 |
1,704,316.61 |
|
Total Assets |
217,677,992.66 |
171,208,088.45 |
139,659,965.75 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial Institutions |
21,475,937.95 |
5,587,886.27 |
1,803,891.53 |
|
Trade Accounts & Other
Payable |
102,229,802.35 |
95,415,891.85 |
80,254,101.09 |
|
Current Portion of
Hire-purchase Payable |
74,550.00 |
- |
- |
|
Other Current Liabilities |
904,017.51 |
664,738.49 |
24,227,344.78 |
|
|
|
|
|
|
Total Current Liabilities |
124,684,307.81 |
101,668,516.61 |
106,285,337.40 |
|
|
|
|
|
|
Employee Benefits Obligation |
1,073,915.35 |
- |
- |
|
Long-term Loan from
Person or Related Company |
64,585,268.15 |
43,992,482.28 |
9,000,000.00 |
|
Hire-purchase Payable, Net |
248,500.00 |
241,569.00 |
- |
|
Other Non-current Liabilities |
698,538.00 |
382,107.09 |
2,204,683.27 |
|
Total Liabilities |
191,290,529.31 |
146,284,674.98 |
117,490,020.67 |
|
|
|
|
|
|
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 |
10,000,000.00 |
|
Retained Earning - Unappropriated |
16,387,463.35 |
14,923,413.47 |
12,169,945.08 |
|
Total Shareholders' Equity |
26,387,463.35 |
24,923,413.47 |
22,169,945.08 |
|
Total Liabilities &
Shareholders' Equity |
217,677,992.66 |
171,208,088.45 |
139,659,965.75 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales and Services
Income |
609,549,073.31 |
483,645,059.29 |
374,826,484.99 |
|
Other Income |
332,561.15 |
4,525,350.06 |
1,782,085.91 |
|
Total Revenues |
609,881,634.46 |
488,170,409.35 |
376,608,570.90 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
342,273,661.60 |
281,104,896.30 |
207,078,921.97 |
|
Selling Expenses |
218,692,168.52 |
168,174,746.39 |
117,159,780.56 |
|
Administrative Expenses |
43,690,696.90 |
33,643,929.18 |
49,056,705.78 |
|
Total Expenses |
604,656,527.02 |
482,923,571.87 |
373,295,408.31 |
|
|
|
|
|
|
Profit before Financial
Cost & Income Tax |
5,225,107.44 |
5,246,837.48 |
3,313,162.59 |
|
Financial Cost |
[2,263,458.69] |
[1,341,141.32] |
[1,404,416.02] |
|
Profit before Income
Tax |
2,961,648.75 |
3,905,696.16 |
1,908,746.57 |
|
Income Tax |
[1,497,598.87] |
[1,152,227.77] |
[956,957.74] |
|
|
|
|
|
|
Net Profit / [Loss] |
1,464,049.88 |
2,753,468.39 |
951,788.83 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.66 |
1.58 |
1.22 |
|
QUICK RATIO |
TIMES |
1.56 |
1.51 |
1.15 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
69.58 |
58.98 |
45.40 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.80 |
2.82 |
2.68 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
12.50 |
9.99 |
10.60 |
|
INVENTORY TURNOVER |
TIMES |
29.19 |
36.54 |
34.45 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
111.92 |
110.20 |
111.25 |
|
RECEIVABLES TURNOVER |
TIMES |
3.26 |
3.31 |
3.28 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
109.02 |
123.89 |
141.46 |
|
CASH CONVERSION CYCLE |
DAYS |
15.41 |
(3.70) |
(19.61) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
56.15 |
58.12 |
55.25 |
|
SELLING & ADMINISTRATION |
% |
43.05 |
41.73 |
44.34 |
|
INTEREST |
% |
0.37 |
0.28 |
0.37 |
|
GROSS PROFIT MARGIN |
% |
43.90 |
42.81 |
45.23 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.86 |
1.08 |
0.88 |
|
NET PROFIT MARGIN |
% |
0.24 |
0.57 |
0.25 |
|
RETURN ON EQUITY |
% |
5.55 |
11.05 |
4.29 |
|
RETURN ON ASSET |
% |
0.67 |
1.61 |
0.68 |
|
EARNING PER SHARE |
BAHT |
14.64 |
27.53 |
9.52 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.88 |
0.85 |
0.84 |
|
DEBT TO EQUITY RATIO |
TIMES |
7.25 |
5.87 |
5.30 |
|
TIME INTEREST EARNED |
TIMES |
2.31 |
3.91 |
2.36 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
26.03 |
29.03 |
|
|
OPERATING PROFIT |
% |
(0.41) |
58.36 |
|
|
NET PROFIT |
% |
(46.83) |
189.29 |
|
|
FIXED ASSETS |
% |
6.83 |
(0.67) |
|
|
TOTAL ASSETS |
% |
27.14 |
22.59 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 26.03%.
Turnover has increased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
43.90 |
Impressive |
Industrial
Average |
12.33 |
|
Net Profit Margin |
0.24 |
Deteriorated |
Industrial
Average |
1.67 |
|
Return on Assets |
0.67 |
Deteriorated |
Industrial
Average |
6.96 |
|
Return on Equity |
5.55 |
Deteriorated |
Industrial
Average |
41.91 |
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 43.9%. 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 0.24%.
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 0.67%.
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 5.55%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
1.66 |
Impressive |
Industrial
Average |
0.97 |
|
Quick Ratio |
1.56 |
|
|
|
|
Cash Conversion Cycle |
15.41 |
|
|
|
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 1.66 times in 2011, increased from 1.58 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 1.56 times in 2011,
increased from 1.51 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 16 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.88 |
Impressive |
Industrial
Average |
0.88 |
|
Debt to Equity Ratio |
7.25 |
Risky |
Industrial
Average |
5.69 |
|
Times Interest Earned |
2.31 |
Satisfactory |
Industrial
Average |
2.76 |
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 2.31 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 0.88 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
69.58 |
Impressive |
Industrial
Average |
19.27 |
|
Total Assets Turnover |
2.80 |
Acceptable |
Industrial
Average |
4.75 |
|
Inventory Conversion Period |
12.50 |
|
|
|
|
Inventory Turnover |
29.19 |
Impressive |
Industrial
Average |
19.01 |
|
Receivables Conversion Period |
111.92 |
|
|
|
|
Receivables Turnover |
3.26 |
Acceptable |
Industrial
Average |
4.38 |
|
Payables Conversion Period |
109.02 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.26 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 has increased from 10 days at the
end of 2010 to 13 days at the end of 2011. This represents a negative trend.
And Inventory turnover has decreased from 36.54 times in year 2010 to 29.19
times in year 2011.
The company's Total Asset Turnover is calculated as 2.8 times and 2.82
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.68 |
|
|
1 |
Rs.84.84 |
|
Euro |
1 |
Rs.71.87 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.