MIRA
INFORM REPORT
|
Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
GENERAL CANDY CO., LTD. |
|
|
|
|
Registered Office : |
51/3 Moo 2, Soi Sritapan, Chaengwattana Road, T. Klongklua A. Pakkred, Nonthaburi 11120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
29.03.1983 |
|
|
|
|
Com. Reg. No.: |
0105526012521 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Distributor of Confectioneries |
|
|
|
|
No. of Employees : |
600 |
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
GENERAL
CANDY CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 51/3
MOO 2, SOI SRITAPAN,
CHAENGWATTANA ROAD,
T. KLONGKLUA,
A. PAKKRED, NONTHABURI
11120
TELEPHONE : [66] 2980-9206-12
FAX : [66] 2573-1095,
2980-9213
E-MAIL
ADDRESS : inter@generalgroup.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1983
REGISTRATION
NO. : 0105526012521 [Former
: 1254/2526]
TAX
ID NO. : 3101230840
CAPITAL REGISTERED : BHT. 100,000,000
CAPITAL PAID-UP : BHT.
100,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PAISAL ANGKHASEKVILAI, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 600
LINES
OF BUSINESS : CONFECTIONERIES
MANUFACTURER, EXPORTER
AND DISTRIBUTOR
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 March 29,
1983 as a
private limited company
under the name
style GENERAL CANDY CO.,
LTD. by
Thai groups, to manufacture
various kinds of
confectioneries for local
and overseas markets.
It currently employs
approximately 600 staff.
The subject’s registered
address is 51/3
Moo 4, Soi Sritapan,
Chaengwattana Rd., Pakkred,
Nonthaburi 11120.
In
2012, its registered
address has been
changed to 51/3
Moo 2, Soi
Sritapan, Chaengwattana Rd., T. Klongklua, A. Pakkred,
Nonthaburi 11120, by
the Pakkred District
Office in Nonthaburi,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Paisal Angkhasekvilai |
|
Thai |
67 |
|
Mrs. Amornrat Angkhasekvilai |
|
Thai |
63 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Paisal Angkhasekvilai is
the Managing Director.
He is Thai
nationality with the
age of 67
years old.
Mrs. Amornrat Angkhasekvilai is
the Deputy Managing
Director & Financial
Manager.
She is Thai
nationality with the
age of 63
years old.
Ms. Jiraporn Angkhasekvilai is
the Assistant Managing
Director [Marketing].
She is Thai
nationality.
Ms. Jittapa Angkhasekvilai is
the Assistant Managing
Director [Overseas].
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and distributing various
kinds of confectioneries such
as hard candy,
deposited candy, soft
candy, licorice, bubble
gum, hard lollipops,
tablet and snacks.
Range of its
products and brands
are as follows:
HARD CANDY :
Heartbeat Normal [3.2 gms.], Heartbeat
Jumbo [6 gms.],
Heartbeat
Jumbo Center-Filled [6 gms.], Heartbeat
Corazon [6 gms.],
Love
& Passion [6 gms.], Zour Bomb [5
gms.] & Tamarino [3.5 gms]
DEPOSITED CANDY : Heart
N’Cream [5 gms.], Prima [5 gms.]
LICORICE : Sour punk [50 gms.], Extreme Z [60 gms.], Flying
Dragon [25 gms.],
Flying
Dragon Mini [25 gms.] &
Licorice Fruit Gummy
BUBBLE GUM : Bubble
Heart Tape Gum [60 gms.]
The subject is
also contracted manufacturing
of the products
under customer’s brands.
PURCHASE
70% of raw materials is
purchased from local suppliers, and the remaining 30% is imported
from Spain, Germany,
Taiwan, Malaysia, Japan
and Republic of
China.
SALES [LOCAL]
30% of the
products is sold
locally through G.C
Distribution Co., Ltd.,
the related company.
EXPORT
70% of the products
is exported directly
to Hong Kong,
Malaysia, Indonesia, Republic of
China, Singapore, Korea,
Australia, United States of
America, Africa, Taiwan,
Vietnam, Philippines, Middle East
countries, Laos, India,
Germany, France, Italy, Japan,
Myanmar, Cambodia and
etc., with over
40 countries worldwide.
SUBSIDIARY AND AFFILIATED
COMPANIES
General Care Products
Co., Ltd.
Business Type
: Manufacturer and
distributor of health
care products
G. C. Distribution Co.,
Ltd.
Business Type :
Distributor of consumer
goods
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 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 on the
credits term of
60-90-120 days or
T/T.
Exports are against
L/C at sight
and T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok]
The Siam Commercial
Bank Public Co.,
Ltd.
[Chaengwattana Branch
: Chaengwattana Rd.,
Pakkred, Bangkok]
EMPLOYMENT
The
subject employs approximately
600 office staff
and factory workers.
LOCATION DETAILS
The
premise is owned
for administrative office,
factory and warehouse
at the heading
address. Premise is
located in provincial, on the
outskirts of Bangkok
Branch
office is located
at 30/9 Moo
1, Soi Sitapan,
Chaengwattana Rd., T.
Klongklua, A. Pakkred, Nonthaburi
11120.
COMMENT
The subject
was established in
Thailand in 1983
and the success
has been towering,
the star product
of General Candy is
Heartbeat love candy,
unique product with
heart shaped candy
became well known
and broadly accepted
by consumers locally
and overseas.
The
company’s products are
sold in all
channels nationwide such
as convenience stores,
supermarket, hypermarket, retail
shops, wholesalers and
etc., as well
as exporting to
more than 30
countries worldwide mostly
under exclusive basis.
All of its products
have become descriptive
for a quality
product.
Innovation
of products, packaging
and excellent service
are obviously an added
success of the
company.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 5,000,000
divided into 50,000 shares
of Bht. 100
each.
The
capital was increased
later as following:
Bht. 10,000,000
on June 13,
1989
Bht. 75,000,000
on January 15,
2002
Bht. 95,000,000
on December 20,
2002
Bht. 100,000,000 on
May 1, 2006
The
latest registered capital was
increased to Bht. 100,000,000 divided
into 1,000,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Paisal Angkhasekvilai Nationality: Thai Address : 85/5
Soi Prachumporn, Chaengwattana Rd.,
Bangkhen, Bangkok |
600,000 |
60.00 |
|
Mrs. Amornrat Angkhasekvilai Nationality: Thai Address : 85/5
Soi Prachumporn, Chaengwattana Rd.,
Bangkhen, Bangkok |
399,995 |
40.00 |
|
Ms. Jittapa Angkhasekvilai Nationality: Thai Address : 51/3
Chaengwattana Rd., T. Klongkua, A.
Pakkred,
Nonthaburi |
2 |
- |
|
Ms. Jitradee Angkhasekvilai Nationality: Thai Address : 51/3
Chaengwattana Rd., T. Klongkua, A.
Pakkred,
Nonthaburi |
1 |
- |
|
Ms. Jiraporn Angkhasekvilai Nationality: Thai Address : 51/3
Chaengwattana Rd., T. Klongkua, A.
Pakkred,
Nonthaburi |
1 |
- |
|
Ms. Jintawee Angkhasekvilai Nationality: Thai Address : 51/3
Chaengwattana Rd., T. Klongkua, A.
Pakkred,
Nonthaburi |
1 |
- |
Total Shareholders : 6
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
1,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
6 |
1,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sathien Sathienpanich
No. 2893
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011, 2010 &
2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalents |
87,658.72 |
20,000.00 |
270,581.42 |
|
Trade Accounts & Other
Receivable |
257,628,347.38 |
310,690,800.55 |
320,187,741.22 |
|
Inventories |
105,493,933.64 |
103,547,321.89 |
116,311,311.50 |
|
Other Current Assets
|
4,579,352.34 |
4,094,160.57 |
35,552,382.55 |
|
|
|
|
|
|
Total Current Assets
|
367,789,292.08 |
418,352,288.01 |
472,322,016.69 |
|
Long-term Lending |
180,000,000.00 |
100,000,000.00 |
- |
|
Long-term Lending to
Person or Related Company |
12,330,000.00 |
43,850,000.00 |
93,850,000.00 |
|
Fixed Assets |
408,778,913.18 |
387,071,513.23 |
336,172,349.11 |
|
Other Non-current Assets
|
23,322,359.85 |
34,859,504.21 |
8,849,944.52 |
|
Total Assets |
992,220,565.11 |
984,133,300.45 |
911,194,310.32 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial
Institution |
341,485,995.82 |
411,951,889.70 |
357,975,974.83 |
|
Trade Accounts &
Other Payable |
257,806,081.70 |
282,987,488.90 |
160,513,749.70 |
|
Current Portion of Long-term
Loan |
64,106,165.71 |
43,655,121.95 |
72,958,520.68 |
|
Accrued Expenses |
3,597,289.29 |
1,675,438.77 |
- |
|
Other Current Liabilities |
44,630.00 |
46,100.00 |
49,640,802.95 |
|
|
|
|
|
|
Total Current Liabilities |
667,040,162.52 |
740,316,039.32 |
641,089,048.16 |
|
Long-term Loan |
56,770,095.00 |
54,684,740.00 |
32,380,720.00 |
|
Other Long Term
Loan |
114,372,835.85 |
49,518,387.66 |
103,367,564.75 |
|
Obligation from Employee
Benefits |
3,289,161.95 |
- |
- |
|
Total Liabilities |
841,472,255.32 |
844,519,166.98 |
776,837,332.91 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 1,000,000 shares |
100,000,000.00 |
100,000,000.00 |
100,000,000.00 |
|
|
|
|
|
|
Capital Paid |
100,000,000.00 |
100,000,000.00 |
100,000,000.00 |
|
Surplus on Land
Appraisal |
23,410,000.00 |
23,410,000.00 |
23,410,000.00 |
|
Retained Earning -
Unappropriated |
27,338,309.79 |
16,204,133.47 |
10,946,977.41 |
|
Total Shareholders' Equity |
150,748,309.79 |
139,614,133.47 |
134,356,977.41 |
|
Total Liabilities & Shareholders' Equity |
992,220,565.11 |
984,133,300.45 |
911,194,310.32 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales |
1,007,687,990.18 |
983,503,344.18 |
899,140,391.63 |
|
Other Income |
40,899,892.36 |
35,450,275.56 |
21,719,935.21 |
|
Total Revenues |
1,048,587,882.54 |
1,018,953,619.74 |
920,860,326.84 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
842,884,652.68 |
827,596,995.06 |
706,914,759.18 |
|
Selling Expenses |
67,873,040.39 |
79,575,343.77 |
64,698,384.81 |
|
Administrative Expenses |
85,274,086.57 |
72,225,207.69 |
97,118,060.12 |
|
Total Expenses |
996,031,779.64 |
979,397,546.52 |
868,731,204.11 |
|
|
|
|
|
|
Profit before Financial Cost
& Income Tax |
52,556,102.90 |
39,556,073.22 |
52,129,122.73 |
|
Financial Cost |
[34,667,692.90] |
[30,963,202.74] |
[35,212,999.80] |
|
|
|
|
|
|
Profit before Income Tax |
17,888,410.00 |
8,592,870.48 |
16,916,122.93 |
|
Income Tax |
[6,754,233.68] |
[3,335,714.42] |
[12,968,692.97] |
|
Net Profit / [Loss] |
11,134,176.32 |
5,257,156.06 |
3,947,429.96 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.55 |
0.57 |
0.74 |
|
QUICK RATIO |
TIMES |
0.39 |
0.42 |
0.50 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.47 |
2.54 |
2.67 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.02 |
1.00 |
0.99 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
45.68 |
45.67 |
60.05 |
|
INVENTORY TURNOVER |
TIMES |
7.99 |
7.99 |
6.08 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
93.32 |
115.30 |
129.98 |
|
RECEIVABLES TURNOVER |
TIMES |
3.91 |
3.17 |
2.81 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
111.64 |
124.81 |
82.88 |
|
CASH CONVERSION CYCLE |
DAYS |
27.36 |
36.16 |
107.16 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
83.65 |
84.15 |
78.62 |
|
SELLING & ADMINISTRATION |
% |
15.20 |
15.43 |
18.00 |
|
INTEREST |
% |
3.44 |
3.15 |
3.92 |
|
GROSS PROFIT MARGIN |
% |
20.41 |
19.46 |
23.79 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
5.22 |
4.02 |
5.80 |
|
NET PROFIT MARGIN |
% |
1.10 |
0.53 |
0.44 |
|
RETURN ON EQUITY |
% |
7.39 |
3.77 |
2.94 |
|
RETURN ON ASSET |
% |
1.12 |
0.53 |
0.43 |
|
EARNING PER SHARE |
BAHT |
11.13 |
5.26 |
3.95 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.85 |
0.86 |
0.85 |
|
DEBT TO EQUITY RATIO |
TIMES |
5.58 |
6.05 |
5.78 |
|
TIME INTEREST EARNED |
TIMES |
1.52 |
1.28 |
1.48 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
2.46 |
9.38 |
|
|
OPERATING PROFIT |
% |
32.86 |
(24.12) |
|
|
NET PROFIT |
% |
111.79 |
33.18 |
|
|
FIXED ASSETS |
% |
5.61 |
15.14 |
|
|
TOTAL ASSETS |
% |
0.82 |
8.00 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 2.46%. Turnover has increased from THB
983,503,344.18 in 2010 to THB 1,007,687,990.18 in 2011. While net profit has
increased from THB 5,257,156.06 in 2010 to THB 11,134,176.32 in 2011. And total
assets has increased from THB 984,133,300.45 in 2010 to THB 992,220,565.11 in
2011.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
20.41 |
Impressive |
Industrial
Average |
16.08 |
|
Net Profit Margin |
1.10 |
Satisfactory |
Industrial
Average |
1.21 |
|
Return on Assets |
1.12 |
Acceptable |
Industrial
Average |
1.56 |
|
Return on Equity |
7.39 |
Impressive |
Industrial
Average |
4.19 |
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 20.41%. 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 1.1%. 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 1.12%.
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 7.39%, 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.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
0.55 |
Risky |
Industrial
Average |
1.56 |
|
Quick Ratio |
0.39 |
|
|
|
|
Cash Conversion Cycle |
27.36 |
|
|
|
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 0.55 times in 2011, decreased from 0.57 times, then the company may not be
efficiently using its current assets. 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 0.39 times in 2011,
decreased from 0.42 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 28 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.85 |
Acceptable |
Industrial
Average |
0.55 |
|
Debt to Equity Ratio |
5.58 |
Risky |
Industrial
Average |
1.33 |
|
Times Interest Earned |
1.52 |
Satisfactory |
Industrial
Average |
1.57 |
Debt to Equity Ratio a measurement of how much suppliers, lenders, creditors
and obligors have committed to the company versus what the shareholders have
committed. A lower the percentage means that the company is using less leverage
and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 1.52 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 0.85 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 : IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.47 |
Satisfactory |
Industrial
Average |
2.67 |
|
Total Assets Turnover |
1.02 |
Acceptable |
Industrial
Average |
1.36 |
|
Inventory Conversion Period |
45.68 |
|
|
|
|
Inventory Turnover |
7.99 |
Impressive |
Industrial
Average |
6.31 |
|
Receivables Conversion Period |
93.32 |
|
|
|
|
Receivables Turnover |
3.91 |
Impressive |
Industrial
Average |
3.86 |
|
Payables Conversion Period |
111.64 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.91 and 3.17 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 is
46 days at the end of 2010, same
as in 2011. This represents a negative trend. And
Inventory turnover is 7.99 times in year 2010,
same as in
2011.
The company's Total Asset Turnover is calculated as 1.02 times and 1
time 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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
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.