MIRA
INFORM REPORT
|
Report Date : |
14.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
NATIONAL METAL MANUFACTURING & CASTING |
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Formerly Known As : |
National Company for the Manufacturing &
Casting of Metals |
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Registered Office : |
Jubail Industrial
City, P.O.Box 10882, Jubail,
31961 |
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Country : |
Saudi Arabia |
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|
Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.12.1990 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
manufacturer of steel wire and wire related
products. |
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|
No. of Employees : |
500 employees |
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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Saudi
Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Saudi Arabia - ECONOMIC OVERVIEW
Saudi Arabia has an oil-based
economy with strong government controls over major economic activities. It
possesses about one-fifth of the world's proven petroleum reserves, ranks as
the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum
sector accounts for roughly 80% of budget revenues, 45% of GDP, and 90% of
export earnings. Saudi Arabia is encouraging the growth of the private sector
in order to diversify its economy and to employ more Saudi nationals.
Diversification efforts are focusing on power generation, telecommunications,
natural gas exploration, and petrochemical sectors. Almost 6 million foreign
workers play an important role in the Saudi economy, particularly in the oil
and service sectors, while Riyadh is struggling to reduce unemployment among
its own nationals. Saudi officials are particularly focused on employing its
large youth population, which generally lacks the education and technical
skills the private sector needs. Riyadh has substantially boosted spending on
job training and education, most recently with the opening of the King Abdallah University of Science and Technology - Saudi Arabia''s first co-educational university. As part of its
effort to attract foreign investment, Saudi Arabia acceded to the WTO in
December 2005 after many years of negotiations. The government has begun
establishing six "economic cities" in different regions of the
country to promote foreign investment and plans to spend $373 billion between
2010 and 2014 on social development and infrastructure projects to advance
Saudi Arabia''s economic development.
|
Source : CIA |
Company name & address
National Metal Manufacturing & Casting
Jubail Industrial City
P.O.Box 10882
Jubail, 31961
Saudi Arabia
=Tel: 966-3-3588000
Fax: 966-3-3583831
Web: www.natmetalco.com
Synthesis
Employees: 500
Company Type: Public Subsidiary
Corporate Family: 47
Companies
Ultimate Parent: National
Industrialization Company
Traded: Saudi
Arabian Stock Exchange: 2220
Incorporation Date:
03-Dec-1990
Auditor: Ernst & Young LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Saudi
Riyal
Annual Sales: 96.4
1
Net Income: 0.8
Total Assets:
140.1 2
Market Value: 207.7
(26-Sep-2012)
Business Description
National Metal Manufacturing and Casting Co (Maadaniyah)
is a Saudi Arabia-based public shareholding company that manufactures steel
wire and wire related products. The Company manufactures drawn steel wire rod,
pre-stressed concrete steel wire strand (PC strand), spring wire, matters
spring wire, strengthening wire strand for electrical power and high and low
galvanized steel wire, fasteners, nails, bolts and welding wire, metal casting
of various types, axles, and spare parts for trucks, vehicles and equipment, as
well as wholesale and retail trade in building materials and industrial
materials; ownership of land and property and constructing building on them;
ownership of patents and their use to achieve industrial objectives inside and
outside the Kingdom of Saudi Arabia, and contracting activities and
representation of local and foreign companies. For the six months ended 30 June
2012, National Metal Manufacturing & Casting revenues increased 10% to SAR204.8M.
Net income increased 64% to SAR5.9M. Revenues reflect Metal Formation segment
increase of 30% to SAR62.7M, Converting Segment increase of 3% to SAR142.1M.
Net income benefited from Other Revenues increase from SAR578K to SAR1.3M
(income), Financial Expenses decrease of 5% to SAR1.3M (expense).
Industry
Industry Iron and Steel
ANZSIC 2006: 2110 - Iron
Smelting and Steel Manufacturing
NACE 2002: 2710 - Manufacture
of basic iron and steel and of ferro-alloys
NAICS 2002: 331111 - Iron and Steel
Mills
UK SIC 2003: 2710 - Manufacture
of basic iron and steel and of ferro-alloys
UK SIC 2007: 2410 - Manufacture
of basic iron and steel and of ferro-alloys
US SIC 1987: 3312 - Steel
Works, Blast Furnaces (Including Coke Ovens), and Rolling Mills
Key Executives
|
Name |
Title |
|
Saleh Abdul Karim Al Obayyed |
Managing Director and Member of the Board |
|
Muayid Bin Issa Al Qurtas |
Chairman of the Board, representing
National Manufacturing for Industrial Investments Company |
|
Samir Abdul Mohsen Al Hemaidan |
Non-Executive Member of the Board,
representing National Industrialization Company |
|
Mohammed Bin Awaid
Bin Ateeq Al Juaid |
Independent Member of the Board |
|
Moayyed Al-Qurtas |
Chairman |
Significant Developments
|
* number of
significant developments within the last 12 months,
Financial Summary
|
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = SAR 3.750258
2 - Balance Sheet Item Exchange Rate: USD 1 = SAR 3.7502
Corporate Overview
Location
Jubail Industrial City
P.O.Box 10882
Jubail, 31961
Saudi Arabia
Tel: 966-3-3588000
Fax: 966-3-3583831
Web: www.natmetalco.com
Quote Symbol - Exchange
2220 - Saudi
Arabian Stock Exchange
Sales SAR(mil): 361.5
Assets SAR(mil): 525.3
Employees: 500
Fiscal Year End: 31-Dec-2011
Industry: Iron
and Steel
Incorporation Date: 03-Dec-1990
Company Type: Public
Subsidiary
Quoted Status: Quoted
Previous Name: National
Company for the Manufacturing & Casting of Metals
Chairman of the
Board, representing National Manufacturing for Industrial Investments Company:
Muayid Bin Issa Al Qurtas
Company Web Links
Company Contact/E-mail
Corporate History/Profile
Home Page
Products/Services
Contents
Industry Codes
Business Description
Brand/Trade Names
Financial Data
Market Data
Shareholders
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2110 - Iron Smelting and Steel Manufacturing
2291 - Spring and Wire Product Manufacturing
NACE 2002 Codes:
2710 - Manufacture of basic iron and steel and of ferro-alloys
2734 - Wire drawing
NAICS 2002 Codes:
331111 - Iron and Steel Mills
331222 - Steel Wire Drawing
US SIC 1987:
3312 - Steel Works, Blast Furnaces (Including Coke Ovens), and
Rolling Mills
3315 - Steel Wiredrawing and Steel Nails and Spikes
UK SIC 2003:
2710 - Manufacture of basic iron and steel and of ferro-alloys
2734 - Wire drawing
UK SIC 2007:
2410 - Manufacture of basic iron and steel and of ferro-alloys
2434 - Cold drawing of wire
Business
Description
National Metal
Manufacturing and Casting Co (Maadaniyah) is a Saudi
Arabia-based public shareholding company that manufactures steel wire and wire
related products. The Company manufactures drawn steel wire rod, pre-stressed
concrete steel wire strand (PC strand), spring wire, matters spring wire,
strengthening wire strand for electrical power and high and low galvanized
steel wire, fasteners, nails, bolts and welding wire, metal casting of various
types, axles, and spare parts for trucks, vehicles and equipment, as well as
wholesale and retail trade in building materials and industrial materials;
ownership of land and property and constructing building on them; ownership of
patents and their use to achieve industrial objectives inside and outside the
Kingdom of Saudi Arabia, and contracting activities and representation of local
and foreign companies. For the six months ended 30 June 2012, National Metal
Manufacturing & Casting revenues increased 10% to SAR204.8M. Net income
increased 64% to SAR5.9M. Revenues reflect Metal Formation segment increase of
30% to SAR62.7M, Converting Segment increase of 3% to SAR142.1M. Net income benefited
from Other Revenues increase from SAR578K to SAR1.3M (income), Financial
Expenses decrease of 5% to SAR1.3M (expense).
More Business
Descriptions
Casting of metals
and production of steel wires for precast concrete,
high carbonated galvanized wires, low carbonated galvanized wires, iron frames
and spring wires for mattresses, welding wires, screws and nails
Engineering
Services
All Other
Fabricated Metal Product Manufacturing
Brand/Trade Names
Maadaniyah
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Corporate Family |
Corporate
Structure News: |
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National
Industrialization Company |
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National Metal Manufacturing & Casting |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Riyadh |
Saudi Arabia |
Chemical Manufacturing |
5,239.3 |
962 |
|
|
Subsidiary |
Jeddah |
Saudi Arabia |
Chemical Manufacturing |
|
3,800 |
|
|
Subsidiary |
Cockeysville, MD |
United States |
Chemical Manufacturing |
|
3,800 |
|
|
Subsidiary |
Cockeysville, MD |
United States |
Chemical Manufacturing |
1,756.8 |
3,600 |
|
|
Subsidiary |
Marta, Paraiba |
Brazil |
Chemical Manufacturing |
|
800 |
|
|
Subsidiary |
Rueil Malmaison |
France |
Chemical Manufacturing |
|
800 |
|
|
Subsidiary |
Camacari |
Brazil |
Chemical Manufacturing |
227.9 |
650 |
|
|
Subsidiary |
Australind, WA |
Australia |
Chemical Manufacturing |
249.3 |
500 |
|
|
Subsidiary |
Thann |
France |
Chemical Manufacturing |
140.1 |
300 |
|
|
Subsidiary |
Tisselt |
Belgium |
Chemical Manufacturing |
7.5 |
29 |
|
|
Branch |
Ashtabula, OH |
United States |
Chemical Manufacturing |
11.5 |
21 |
|
|
Branch |
Glen Burnie, MD |
United States |
Chemical Manufacturing |
11.5 |
21 |
|
|
Branch |
Baltimore, MD |
United States |
Chemical Manufacturing |
11.5 |
21 |
|
|
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
|
|
6 |
|
|
Branch |
Woodridge, IL |
United States |
Chemical Manufacturing |
3.4 |
3 |
|
|
Branch |
Lockport, IL |
United States |
Chemical Manufacturing |
5.8 |
8 |
|
|
Branch |
Ottawa, IL |
United States |
Chemical Manufacturing |
2.9 |
4 |
|
|
Branch |
Jacksonville, FL |
United States |
Miscellaneous Capital Goods |
2.8 |
3 |
|
|
Subsidiary |
Thann |
France |
Chemical Manufacturing |
1.3 |
|
|
|
Subsidiary |
Le Havre |
France |
Miscellaneous Capital Goods |
0.8 |
374 |
|
|
Subsidiary |
Thann |
France |
Rental and Leasing |
|
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|
|
Subsidiary |
Immingham |
United Kingdom |
Miscellaneous Financial Services |
|
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|
Subsidiary |
Immingham |
United Kingdom |
Miscellaneous Financial Services |
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|
Subsidiary |
Immingham |
United Kingdom |
Commercial Banks |
|
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|
Subsidiary |
Immingham |
United Kingdom |
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|
Subsidiary |
Henderson, WA |
Australia |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Riyadh |
Saudi Arabia |
Miscellaneous Transportation |
|
1,080 |
|
|
Subsidiary |
Jubail |
Saudi Arabia |
Iron and Steel |
96.4 |
500 |
|
|
Subsidiary |
Jeddah |
Saudi Arabia |
Chemical Manufacturing |
157.4 |
475 |
|
|
Subsidiary |
Hunt Valley, MD |
United States |
Metal Mining |
|
|
|
|
Subsidiary |
Australind, WA |
Australia |
Chemical Manufacturing |
|
300 |
|
|
Subsidiary |
Al Jubail |
Saudi Arabia |
Chemicals - Plastics and Rubber |
|
400 |
|
|
Subsidiary |
Dammam |
Saudi Arabia |
Iron and Steel |
29.4 |
270 |
|
|
Subsidiary |
Riyadh |
Saudi Arabia |
Electronic Instruments and Controls |
14.7 |
135 |
|
|
Subsidiary |
Riyadh |
Saudi Arabia |
Miscellaneous Fabricated Products |
|
130 |
|
|
Subsidiary |
Riyadh |
Saudi Arabia |
Chemical Manufacturing |
|
120 |
|
|
Subsidiary |
Riyadh |
Saudi Arabia |
Chemicals - Plastics and Rubber |
|
106 |
|
|
Subsidiary |
Dammam |
Saudi Arabia |
Business Services |
|
70 |
|
|
Subsidiary |
Manama |
Bahrain |
Insurance (Accident and Health) |
|
50 |
|
|
National
Industrialization Petrochemical Marketing Company Ltd |
Subsidiary |
Riyadh |
Saudi Arabia |
Chemical Manufacturing |
|
40 |
|
Subsidiary |
Jeddah |
Saudi Arabia |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Riyadh |
Saudi Arabia |
Electric Utilities |
|
|
|
|
Subsidiary |
Riyadh |
Saudi Arabia |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Riyadh |
Saudi Arabia |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Al Jubail |
Saudi Arabia |
Chemicals - Plastics and Rubber |
|
550 |
|
|
Subsidiary |
Riyadh |
Saudi Arabia |
Business Services |
|
|
|
|
National Industrialization
& Energy Services Company Co. Ltd. |
Subsidiary |
Riyadh |
Saudi Arabia |
Miscellaneous Fabricated Products |
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Executive report
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Board of
Directors |
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Chairman of the Board, representing National Manufacturing for
Industrial Investments Company |
Chairman |
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Chairman |
Chairman |
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Non-Executive Member of the Board,
representing National Industrialization Company |
Director/Board Member |
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Independent Member of the Board |
Director/Board Member |
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Independent Member of the Board |
Director/Board Member |
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Non-Executive Member of the Board, representing National Manufacturing
Company |
Director/Board Member |
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Managing Director and Member of the Board |
Director/Board Member |
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Executives |
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Managing Director and Member of the Board |
Managing Director |
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Significant Developments
National Metal Manufacturing and Casting Co Recommends Bonus Shares as
Part of Capital Increase Program
Feb 14, 2012
National Metal Manufacturing and Casting Co announced that its Board of Directors has recommended distributing bonus shares of one share for every 10 shares owned as part of the Company's capital increase program from SAR 255,564,450 to SAR 281,120,890.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750258 |
3.750188 |
3.750409 |
3.751248 |
3.747242 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
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Net Sales |
96.4 |
84.8 |
85.1 |
133.4 |
97.4 |
|
Revenue |
96.4 |
84.8 |
85.1 |
133.4 |
97.4 |
|
Total Revenue |
96.4 |
84.8 |
85.1 |
133.4 |
97.4 |
|
|
|
|
|
|
|
|
Cost of Revenue |
87.3 |
73.0 |
73.4 |
113.6 |
80.1 |
|
Cost of Revenue, Total |
87.3 |
73.0 |
73.4 |
113.6 |
80.1 |
|
Gross Profit |
9.1 |
11.7 |
11.7 |
19.8 |
17.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
3.5 |
2.7 |
6.1 |
6.6 |
5.9 |
|
Labor & Related Expense |
3.0 |
2.8 |
- |
- |
- |
|
Total Selling/General/Administrative Expenses |
6.5 |
5.6 |
6.1 |
6.6 |
5.9 |
|
Depreciation |
0.4 |
0.4 |
- |
- |
- |
|
Depreciation/Amortization |
0.4 |
0.4 |
- |
- |
- |
|
Other, Net |
0.8 |
0.7 |
0.7 |
0.5 |
0.4 |
|
Other Operating Expenses, Total |
0.8 |
0.7 |
0.7 |
0.5 |
0.4 |
|
Total Operating Expense |
94.9 |
79.6 |
80.2 |
120.7 |
86.5 |
|
|
|
|
|
|
|
|
Operating Income |
1.5 |
5.1 |
4.9 |
12.6 |
10.9 |
|
|
|
|
|
|
|
|
Gain (Loss) on Sale of Assets |
0.2 |
0.2 |
0.0 |
-0.3 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.2 |
0.4 |
0.4 |
0.6 |
0.7 |
|
Other, Net |
0.2 |
0.4 |
0.4 |
0.6 |
0.7 |
|
Income Before Tax |
2.0 |
5.7 |
5.3 |
12.9 |
11.6 |
|
|
|
|
|
|
|
|
Total Income Tax |
1.1 |
1.2 |
1.1 |
1.2 |
1.2 |
|
Income After Tax |
0.8 |
4.5 |
4.2 |
11.7 |
10.3 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
0.8 |
4.5 |
4.2 |
11.7 |
10.3 |
|
Discontinued Operations |
- |
0.0 |
-0.1 |
-1.0 |
-4.8 |
|
Total Extraord Items |
- |
0.0 |
-0.1 |
-1.0 |
-4.8 |
|
Net Income |
0.8 |
4.5 |
4.1 |
10.7 |
5.5 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord
Items |
0.8 |
4.5 |
4.2 |
11.7 |
10.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
0.8 |
4.5 |
4.1 |
10.7 |
5.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
28.1 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Basic EPS Excl Extraord Items |
0.03 |
0.16 |
0.15 |
0.42 |
0.37 |
|
Basic/Primary EPS Incl Extraord
Items |
0.03 |
0.16 |
0.15 |
0.38 |
0.20 |
|
Diluted Net Income |
0.8 |
4.5 |
4.1 |
10.7 |
5.5 |
|
Diluted Weighted Average Shares |
28.1 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Diluted EPS Excl Extraord Items |
0.03 |
0.16 |
0.15 |
0.42 |
0.37 |
|
Diluted EPS Incl Extraord
Items |
0.03 |
0.16 |
0.15 |
0.38 |
0.20 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.12 |
0.12 |
- |
|
Depreciation, Supplemental |
4.2 |
4.1 |
3.8 |
3.5 |
3.7 |
|
Total Special Items |
-0.2 |
-0.2 |
0.0 |
0.3 |
0.0 |
|
Normalized Income Before Tax |
1.7 |
5.5 |
5.3 |
13.2 |
11.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
1.0 |
1.2 |
1.1 |
1.2 |
1.2 |
|
Normalized Income After Tax |
0.7 |
4.3 |
4.2 |
12.0 |
10.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.7 |
4.3 |
4.2 |
12.0 |
10.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.03 |
0.15 |
0.15 |
0.43 |
0.37 |
|
Diluted Normalized EPS |
0.03 |
0.15 |
0.15 |
0.43 |
0.37 |
|
Normalized EBIT |
1.5 |
5.1 |
4.9 |
12.6 |
10.9 |
|
Normalized EBITDA |
5.7 |
9.2 |
8.7 |
16.1 |
14.6 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate |
3.7502 |
3.75025 |
3.75075 |
3.7531 |
3.75055 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
1.2 |
1.4 |
- |
- |
- |
|
Cash & Equivalents |
2.1 |
1.7 |
9.3 |
3.6 |
3.2 |
|
Cash and Short Term Investments |
3.2 |
3.1 |
9.3 |
3.6 |
3.2 |
|
Accounts Receivable -
Trade, Gross |
22.3 |
14.6 |
16.6 |
23.7 |
21.5 |
|
Provision for Doubtful
Accounts |
-0.4 |
-0.3 |
-0.3 |
-0.1 |
0.0 |
|
Trade Accounts Receivable - Net |
21.9 |
14.4 |
16.4 |
23.6 |
21.5 |
|
Other Receivables |
1.3 |
2.0 |
- |
- |
- |
|
Total Receivables, Net |
23.2 |
16.3 |
16.4 |
23.6 |
21.5 |
|
Inventories - Finished Goods |
15.4 |
16.0 |
10.2 |
14.0 |
5.6 |
|
Inventories - Work In Progress |
2.7 |
2.3 |
2.4 |
2.3 |
1.8 |
|
Inventories - Raw Materials |
13.4 |
22.1 |
10.7 |
27.4 |
16.2 |
|
Inventories - Other |
13.4 |
8.1 |
9.4 |
4.8 |
8.8 |
|
Total Inventory |
44.9 |
48.5 |
32.8 |
48.5 |
32.4 |
|
Prepaid Expenses |
- |
- |
1.3 |
2.0 |
1.7 |
|
Total Current Assets |
71.3 |
67.9 |
59.8 |
77.7 |
58.7 |
|
|
|
|
|
|
|
|
Land/Improvements |
25.5 |
25.0 |
24.8 |
24.2 |
22.8 |
|
Machinery/Equipment |
92.0 |
88.9 |
87.2 |
78.7 |
76.4 |
|
Construction in
Progress |
2.4 |
2.8 |
0.6 |
6.2 |
0.2 |
|
Property/Plant/Equipment - Gross |
119.9 |
116.6 |
112.7 |
109.1 |
99.4 |
|
Accumulated Depreciation |
-68.1 |
-64.0 |
-61.1 |
-58.7 |
-54.9 |
|
Property/Plant/Equipment - Net |
51.7 |
52.7 |
51.6 |
50.4 |
44.5 |
|
Goodwill, Net |
16.5 |
16.5 |
16.5 |
16.5 |
16.5 |
|
Other Long Term Assets |
0.5 |
0.7 |
0.9 |
0.4 |
0.9 |
|
Other Long Term Assets, Total |
0.5 |
0.7 |
0.9 |
0.4 |
0.9 |
|
Total Assets |
140.1 |
137.7 |
128.8 |
145.0 |
120.6 |
|
|
|
|
|
|
|
|
Accounts Payable |
4.7 |
6.6 |
4.9 |
13.3 |
6.0 |
|
Accrued Expenses |
2.2 |
2.2 |
4.8 |
5.0 |
3.8 |
|
Notes Payable/Short Term Debt |
20.3 |
16.5 |
6.4 |
21.7 |
6.6 |
|
Current Portion - Long Term Debt/Capital Leases |
4.8 |
3.2 |
5.3 |
7.8 |
6.7 |
|
Customer Advances |
0.4 |
0.4 |
- |
- |
- |
|
Income Taxes Payable |
1.6 |
3.0 |
- |
- |
- |
|
Other Current Liabilities |
0.2 |
0.3 |
- |
- |
- |
|
Other Current liabilities, Total |
2.3 |
3.6 |
- |
- |
- |
|
Total Current Liabilities |
34.3 |
32.1 |
21.5 |
47.8 |
23.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
8.1 |
9.2 |
12.5 |
3.9 |
10.9 |
|
Total Long Term Debt |
8.1 |
9.2 |
12.5 |
3.9 |
10.9 |
|
Total Debt |
33.2 |
29.0 |
24.2 |
33.5 |
24.1 |
|
|
|
|
|
|
|
|
Pension Benefits - Underfunded |
3.9 |
3.5 |
3.0 |
2.7 |
2.3 |
|
Other Liabilities, Total |
3.9 |
3.5 |
3.0 |
2.7 |
2.3 |
|
Total Liabilities |
46.3 |
44.8 |
37.0 |
54.5 |
36.2 |
|
|
|
|
|
|
|
|
Common Stock |
68.1 |
68.1 |
68.1 |
54.5 |
43.6 |
|
Common Stock |
68.1 |
68.1 |
68.1 |
54.5 |
43.6 |
|
Additional Paid-In Capital |
- |
- |
3.4 |
13.6 |
24.5 |
|
Retained Earnings (Accumulated Deficit) |
25.6 |
24.8 |
20.4 |
22.5 |
16.3 |
|
Total Equity |
93.8 |
92.9 |
91.9 |
90.6 |
84.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’
Equity |
140.1 |
137.7 |
128.8 |
145.0 |
120.6 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
28.1 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Total Common Shares Outstanding |
28.1 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Deferred Revenue - Current |
0.4 |
0.4 |
0.6 |
- |
- |
|
Total Long Term Debt, Supplemental |
12.9 |
- |
17.8 |
11.7 |
17.5 |
|
Long Term Debt Maturing within 1 Year |
4.8 |
- |
5.3 |
7.8 |
6.7 |
|
Long Term Debt Maturing in Year 2 |
4.4 |
- |
12.5 |
3.9 |
7.7 |
|
Long Term Debt Maturing in Year 3 |
2.1 |
- |
- |
- |
3.2 |
|
Long Term Debt Maturing in Year 4 |
1.3 |
- |
- |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
6.5 |
- |
12.5 |
3.9 |
10.9 |
|
Long Term Debt Maturing in 4-5 Years |
1.3 |
- |
- |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.3 |
- |
0.0 |
0.0 |
0.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750258 |
3.750188 |
3.750409 |
3.751248 |
3.747242 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
2.0 |
5.7 |
5.2 |
11.9 |
8.2 |
|
Depreciation |
4.2 |
4.1 |
3.8 |
3.5 |
3.7 |
|
Depreciation/Depletion |
4.2 |
4.1 |
3.8 |
3.5 |
3.7 |
|
Amortization of Intangibles |
0.2 |
0.2 |
0.4 |
0.4 |
0.7 |
|
Amortization |
0.2 |
0.2 |
0.4 |
0.4 |
0.7 |
|
Unusual Items |
- |
- |
0.0 |
0.3 |
0.0 |
|
Other Non-Cash Items |
0.6 |
0.6 |
0.5 |
0.6 |
0.5 |
|
Non-Cash Items |
0.6 |
0.6 |
0.5 |
0.9 |
0.5 |
|
Accounts Receivable |
-6.8 |
2.0 |
7.2 |
-2.1 |
-6.5 |
|
Inventories |
3.6 |
-15.7 |
15.4 |
-16.1 |
-7.5 |
|
Prepaid Expenses |
- |
-0.6 |
0.7 |
-0.4 |
-0.1 |
|
Other Assets |
0.0 |
0.1 |
0.0 |
1.0 |
2.8 |
|
Accounts Payable |
3.8 |
4.6 |
-15.7 |
12.9 |
1.8 |
|
Accrued Expenses |
- |
0.1 |
-0.1 |
0.1 |
0.9 |
|
Other Liabilities |
0.8 |
0.7 |
0.7 |
0.5 |
- |
|
Other Operating Cash Flow |
-3.4 |
-1.1 |
-2.1 |
-0.8 |
-1.2 |
|
Changes in Working Capital |
-2.1 |
-10.1 |
6.2 |
-4.9 |
-9.9 |
|
Cash from Operating Activities |
4.9 |
0.4 |
16.2 |
11.8 |
3.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-3.3 |
-5.3 |
-4.7 |
-10.8 |
-2.8 |
|
Capital Expenditures |
-3.3 |
-5.3 |
-4.7 |
-10.8 |
-2.8 |
|
Sale of Fixed Assets |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Sale/Maturity of Investment |
- |
- |
- |
0.0 |
0.0 |
|
Intangible, Net |
- |
0.0 |
-0.9 |
- |
- |
|
Other Investing Cash Flow Items, Total |
0.0 |
0.1 |
-0.9 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-3.3 |
-5.1 |
-5.6 |
-10.8 |
-2.8 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
0.0 |
-0.2 |
-0.1 |
- |
|
Financing Cash Flow Items |
- |
0.0 |
-0.2 |
-0.1 |
- |
|
Cash Dividends Paid - Common |
0.0 |
-3.4 |
-2.7 |
-4.2 |
- |
|
Total Cash Dividends Paid |
0.0 |
-3.4 |
-2.7 |
-4.2 |
- |
|
Short Term Debt Issued |
25.2 |
20.1 |
20.1 |
16.2 |
- |
|
Short Term Debt
Reduction |
-27.1 |
-12.8 |
-21.5 |
-6.6 |
- |
|
Short Term Debt, Net |
-1.9 |
7.3 |
-1.3 |
9.6 |
- |
|
Long Term Debt Issued |
3.7 |
- |
7.2 |
0.9 |
- |
|
Long Term Debt
Reduction |
-3.2 |
-5.4 |
-7.8 |
-6.7 |
-5.0 |
|
Long Term Debt, Net |
0.5 |
-5.4 |
-0.6 |
-5.8 |
-5.0 |
|
Issuance (Retirement) of Debt, Net |
-1.5 |
1.9 |
-1.9 |
3.8 |
-5.0 |
|
Cash from Financing Activities |
-1.5 |
-1.5 |
-4.8 |
-0.6 |
-5.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
0.1 |
-6.3 |
5.8 |
0.4 |
-4.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
3.1 |
9.4 |
3.6 |
3.2 |
7.7 |
|
Net Cash - Ending Balance |
3.2 |
3.1 |
9.4 |
3.6 |
3.2 |
|
Cash Taxes Paid |
2.4 |
0.4 |
1.2 |
0.2 |
0.9 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750258 |
3.750188 |
3.750409 |
3.751248 |
3.747242 |
|
Auditor |
Ernst &
Young LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales |
96.4 |
84.8 |
85.1 |
133.4 |
97.4 |
|
Total Revenue |
96.4 |
84.8 |
85.1 |
133.4 |
97.4 |
|
|
|
|
|
|
|
|
Cost of Sales |
87.3 |
73.0 |
73.4 |
113.6 |
80.1 |
|
General & Adminstrative
Expenses |
1.4 |
0.9 |
3.6 |
3.7 |
3.6 |
|
Sales & Distribution Expenses |
2.0 |
1.8 |
2.5 |
2.9 |
2.4 |
|
Wages Sales |
0.8 |
0.8 |
- |
- |
- |
|
Wages ESGA |
2.1 |
2.1 |
- |
- |
- |
|
Depreciation |
0.4 |
0.4 |
- |
- |
- |
|
Financial Expenses |
0.8 |
0.7 |
0.7 |
0.5 |
0.4 |
|
Total Operating Expense |
94.9 |
79.6 |
80.2 |
120.7 |
86.5 |
|
|
|
|
|
|
|
|
Sale of Fixed Assets |
0.2 |
0.2 |
0.0 |
-0.3 |
0.0 |
|
Other Revenues |
0.2 |
0.4 |
0.4 |
0.6 |
0.7 |
|
Net Income Before Taxes |
2.0 |
5.7 |
5.3 |
12.9 |
11.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
1.1 |
1.2 |
1.1 |
1.2 |
1.2 |
|
Net Income After Taxes |
0.8 |
4.5 |
4.2 |
11.7 |
10.3 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
0.8 |
4.5 |
4.2 |
11.7 |
10.3 |
|
Discontinued Operations |
- |
0.0 |
-0.1 |
-1.0 |
-4.8 |
|
Net Income |
0.8 |
4.5 |
4.1 |
10.7 |
5.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
0.8 |
4.5 |
4.2 |
11.7 |
10.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
0.8 |
4.5 |
4.1 |
10.7 |
5.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
28.1 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.03 |
0.16 |
0.15 |
0.42 |
0.37 |
|
Basic EPS Including ExtraOrdinary Items |
0.03 |
0.16 |
0.15 |
0.38 |
0.20 |
|
Diluted Net Income |
0.8 |
4.5 |
4.1 |
10.7 |
5.5 |
|
Diluted Weighted Average Shares |
28.1 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Diluted EPS Excluding ExtraOrd Items |
0.03 |
0.16 |
0.15 |
0.42 |
0.37 |
|
Diluted EPS Including ExtraOrd Items |
0.03 |
0.16 |
0.15 |
0.38 |
0.20 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.12 |
0.12 |
- |
|
Normalized Income Before Taxes |
1.7 |
5.5 |
5.3 |
13.2 |
11.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.0 |
1.2 |
1.1 |
1.2 |
1.2 |
|
Normalized Income After Taxes |
0.7 |
4.3 |
4.2 |
12.0 |
10.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.7 |
4.3 |
4.2 |
12.0 |
10.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.03 |
0.15 |
0.15 |
0.43 |
0.37 |
|
Diluted Normalized EPS |
0.03 |
0.15 |
0.15 |
0.43 |
0.37 |
|
Depreciation |
4.2 |
4.1 |
3.8 |
3.5 |
3.7 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate |
3.7502 |
3.75025 |
3.75075 |
3.7531 |
3.75055 |
|
Auditor |
Ernst &
Young LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalent |
2.1 |
1.7 |
9.3 |
3.6 |
3.2 |
|
Cash in Hand |
1.2 |
1.4 |
- |
- |
- |
|
Accounts Receivable |
22.3 |
14.6 |
16.6 |
23.7 |
21.5 |
|
Loan Loss Provision |
-0.4 |
-0.3 |
-0.3 |
-0.1 |
0.0 |
|
Other Receivables |
1.3 |
2.0 |
- |
- |
- |
|
Finished Goods |
15.4 |
16.0 |
10.2 |
14.0 |
5.6 |
|
Raw Material |
13.4 |
22.1 |
10.7 |
27.4 |
16.2 |
|
Work in progress |
2.7 |
2.3 |
2.4 |
2.3 |
1.8 |
|
Goods in Transit |
8.2 |
3.5 |
5.0 |
0.2 |
4.6 |
|
Secondary Material & Other |
0.2 |
0.2 |
1.6 |
1.5 |
1.4 |
|
Spare Parts |
5.2 |
4.7 |
3.2 |
3.5 |
3.2 |
|
Slow Moving Items |
-0.2 |
-0.2 |
-0.3 |
-0.4 |
-0.4 |
|
Prepaid Expenses |
- |
- |
1.3 |
2.0 |
1.7 |
|
Total Current Assets |
71.3 |
67.9 |
59.8 |
77.7 |
58.7 |
|
|
|
|
|
|
|
|
Goodwill |
- |
- |
16.5 |
16.5 |
16.5 |
|
Buildings & Land |
25.5 |
25.0 |
24.8 |
24.2 |
22.8 |
|
Equipment & Patterns |
83.3 |
80.4 |
78.6 |
69.5 |
67.2 |
|
Fixtures |
1.1 |
1.0 |
1.2 |
1.7 |
1.8 |
|
Cars & Transport |
2.0 |
2.1 |
1.9 |
1.9 |
1.7 |
|
Work in Progess |
2.4 |
2.8 |
0.6 |
6.2 |
0.2 |
|
Tools & Others |
5.5 |
5.4 |
5.6 |
5.6 |
5.6 |
|
Depreciation |
-68.1 |
-64.0 |
-61.1 |
-58.7 |
-54.9 |
|
Goodwill-Net |
16.5 |
16.5 |
- |
- |
- |
|
Other Assets |
0.5 |
0.7 |
0.9 |
0.4 |
0.9 |
|
Total Assets |
140.1 |
137.7 |
128.8 |
145.0 |
120.6 |
|
|
|
|
|
|
|
|
Notes Payable |
13.4 |
7.6 |
4.8 |
12.1 |
6.6 |
|
Accounts Payable |
4.7 |
6.6 |
4.9 |
13.3 |
6.0 |
|
Accrued Expenses |
2.2 |
2.2 |
4.8 |
5.0 |
3.8 |
|
Advance from Customers |
0.4 |
0.4 |
- |
- |
- |
|
Other Payables |
0.2 |
0.3 |
- |
- |
- |
|
Provision for Tax |
1.6 |
3.0 |
- |
- |
- |
|
ST Murabahat |
7.0 |
8.9 |
1.6 |
9.6 |
- |
|
Current Portion of LT Debt |
4.8 |
3.2 |
5.3 |
7.8 |
6.7 |
|
Total Current Liabilities |
34.3 |
32.1 |
21.5 |
47.8 |
23.0 |
|
|
|
|
|
|
|
|
LT Debt |
8.1 |
9.2 |
12.5 |
3.9 |
10.9 |
|
Total Long Term Debt |
8.1 |
9.2 |
12.5 |
3.9 |
10.9 |
|
|
|
|
|
|
|
|
End of Service |
3.9 |
3.5 |
3.0 |
2.7 |
2.3 |
|
Total Liabilities |
46.3 |
44.8 |
37.0 |
54.5 |
36.2 |
|
|
|
|
|
|
|
|
Share Capital |
68.1 |
68.1 |
68.1 |
54.5 |
43.6 |
|
Share Premium |
- |
- |
3.4 |
13.6 |
24.5 |
|
Statutory Reserve |
8.1 |
8.0 |
4.2 |
3.8 |
1.6 |
|
Consensual Reserves |
- |
- |
- |
0.0 |
1.1 |
|
Loss/Gain |
17.5 |
16.8 |
16.2 |
18.7 |
13.6 |
|
Total Equity |
93.8 |
92.9 |
91.9 |
90.6 |
84.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
140.1 |
137.7 |
128.8 |
145.0 |
120.6 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
28.1 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Total Common Shares Outstanding |
28.1 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Deferred Revenue - Current |
0.4 |
0.4 |
0.6 |
- |
- |
|
Debt Within One Year |
4.8 |
- |
5.3 |
7.8 |
6.7 |
|
Debt Within 2 Years |
4.4 |
- |
12.5 |
3.9 |
7.7 |
|
Debt Within 3 Years |
2.1 |
- |
- |
- |
3.2 |
|
Debt within 4 Years |
1.3 |
- |
- |
- |
- |
|
Long Term Debt - Remaining Maturities |
0.3 |
- |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
12.9 |
- |
17.8 |
11.7 |
17.5 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750258 |
3.750188 |
3.750409 |
3.751248 |
3.747242 |
|
Auditor |
Ernst &
Young LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
Deloitte & Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
2.0 |
5.7 |
5.2 |
11.9 |
8.2 |
|
Depreciation |
4.2 |
4.1 |
3.8 |
3.5 |
3.7 |
|
Amortisation |
0.2 |
0.2 |
0.4 |
0.4 |
0.7 |
|
End of Service Prov. |
0.6 |
0.6 |
0.5 |
0.6 |
0.5 |
|
Sale of Fixed Assets |
- |
- |
0.0 |
0.3 |
0.0 |
|
Financial Expenses |
0.8 |
0.7 |
0.7 |
0.5 |
- |
|
Account Receivable |
-6.8 |
2.0 |
7.2 |
-2.1 |
-6.5 |
|
Loss of Fixed Assets |
0.0 |
0.1 |
0.0 |
1.0 |
2.8 |
|
Inventory |
3.6 |
-15.7 |
15.4 |
-16.1 |
-7.5 |
|
Prepaid Expenses |
- |
-0.6 |
0.7 |
-0.4 |
-0.1 |
|
Notes Payable |
- |
4.6 |
-15.7 |
12.9 |
1.8 |
|
Accounts Payable |
3.8 |
- |
- |
- |
- |
|
Accrued Expenses |
- |
0.1 |
-0.1 |
0.1 |
0.9 |
|
End of Service, Paid |
-0.2 |
-0.1 |
-0.2 |
-0.1 |
-0.3 |
|
Financial Cost Paid |
-0.8 |
-0.7 |
-0.7 |
-0.5 |
- |
|
Tax Paid |
-2.4 |
-0.4 |
-1.2 |
-0.2 |
-0.9 |
|
Cash from Operating Activities |
4.9 |
0.4 |
16.2 |
11.8 |
3.2 |
|
|
|
|
|
|
|
|
Intangible Asset |
- |
0.0 |
-0.9 |
- |
- |
|
Sale of Fixed Assets |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Addition to Fixed Assets |
-3.3 |
-5.3 |
-4.7 |
-10.8 |
-2.8 |
|
Sale of Investment |
- |
- |
- |
0.0 |
0.0 |
|
Cash from Investing Activities |
-3.3 |
-5.1 |
-5.6 |
-10.8 |
-2.8 |
|
|
|
|
|
|
|
|
Repayment of LT Debt |
-3.2 |
-5.4 |
-7.8 |
-6.7 |
-5.0 |
|
Murabaha LT Loan |
3.7 |
- |
7.2 |
0.9 |
- |
|
Murabaha ST Loan |
25.2 |
20.1 |
20.1 |
16.2 |
- |
|
Murabaha ST Loan
Repay |
-27.1 |
-12.8 |
- |
- |
- |
|
Repayment of ST Debt |
- |
- |
-21.5 |
-6.6 |
- |
|
Dividend Paid |
0.0 |
-3.4 |
-2.7 |
-4.2 |
- |
|
Directors Fees Paid |
- |
0.0 |
-0.2 |
-0.1 |
- |
|
Cash from Financing Activities |
-1.5 |
-1.5 |
-4.8 |
-0.6 |
-5.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
0.1 |
-6.3 |
5.8 |
0.4 |
-4.5 |
|
|
|
|
|
|
|
|
Cash at Beginning of Year |
3.1 |
9.4 |
3.6 |
3.2 |
7.7 |
|
Cash at End of Year |
3.2 |
3.1 |
9.4 |
3.6 |
3.2 |
|
Cash Taxes Paid |
2.4 |
0.4 |
1.2 |
0.2 |
0.9 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.85 |
|
UK Pound |
1 |
Rs.84.42 |
|
Euro |
1 |
Rs.72.40 |
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.