MIRA
INFORM REPORT
|
Report Date : |
22.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
LF ASIA [THAILAND] LIMITED |
|
|
|
|
Formerly Known As : |
IDS MARKETING [THAILAND]
LIMITED |
|
|
|
|
Registered Office : |
10th-11th
Floor, Maneeya Center
Building, 518/5 Ploenchit Road,
Lumpini, Pathumwan,
Bangkok 10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
21.03.1969 |
|
|
|
|
Com. Reg. No.: |
0105512001280 [Former : 149/2512] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer & Distributor of Trading Company |
|
|
|
|
No. of Employees : |
250 |
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 : |
Good |
|
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 achieved steady growth due largely to industrial and agriculture
exports - mostly electronics, agricultural commodities, automobiles and parts,
and processed foods. Thailand is trying to maintain growth by encouraging
domestic consumption and public investment to offset weak exports in 2012.
Unemployment, at less than 1% of the labor force, stands as one of the lowest
levels in the world, which puts upward pressure on wages in some industries.
Thailand also attracts nearly 2.5 million migrant workers from neighboring
countries. The Thai government is implementing a nation-wide 300 baht ($10) per
day minimum wage policy and deploying new tax reforms designed to lower rates
on middle-income earners. The Thai economy has weathered internal and external
economic shocks in recent years. The global economic severely cut Thailand's
exports, with most sectors experiencing double-digit drops. In 2009, the
economy contracted 2.3%. However, in 2010, Thailand's economy expanded 7.8%,
its fastest pace since 1995, as exports rebounded. In late 2011 growth was
interrupted by historic flooding in the industrial areas in Bangkok and its
five surrounding provinces, crippling the manufacturing sector. Industry
recovered from the second quarter of 2012 onward with GDP growth at 5.5% in
2012. The government has approved flood mitigation projects worth $11.7 billion,
which were started in 2012, to prevent similar economic damage, and an
additional $75 billion for infrastructure over the next seven years with a plan
to start in 2013.
|
Source
: CIA |
Company name
LF ASIA [THAILAND] LIMITED
[FORMER : IDS MARKETING [THAILAND]
LIMITED]
SUMMARY
BUSINESS ADDRESS : 10th-11th FLOOR,
MANEEYA CENTER BUILDING,
518/5 PLOENCHIT
ROAD, LUMPINI,
PATHUMWAN, BANGKOK
10330
TELEPHONE : [66] 2257-3500
FAX : [66] 2257-3555,
2257-3799
E-MAIL ADDRESS : bruceh@lfasia.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1969
REGISTRATION NO. : 0105512001280 [Former
: 149/2512]
TAX ID NO. : 3101067965
CAPITAL REGISTERED : BHT.
21,500,000
CAPITAL PAID-UP : BHT.
17,375,000
SHAREHOLDER’S PROPORTION : THAI
: 60.00%
FOREIGN :
40.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. BRUCE GRAHAM
HEMMINGSEN, NEW ZEALANDER
GENERAL MANAGER
NO. OF STAFF : 250
LINES OF BUSINESS : TRADING COMPANY
IMPORTER &
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
21, 1969 as
a private limited
company under the name style “Anglo-Thai Engineering Co., Ltd.” by British
groups, which was a
member of Inchcape
group.
The subject’s name was
changed later as
the followings:
On September 1,
1983 : “Anglo-Thai [Thailand] Corp. Ltd.”
On February 5,
1993 :
“Inchcape Healthcare Corp. Ltd.”
On June 17,
1999 : “JDH Borneo [Thailand] Co., Ltd.”
On July 1,
2004 :
“IDS Marketing [Thailand] Limited”
On January 5,
2012, its name
was finally changed
to LF ASIA
[THAILAND] LIMITED.
Its business objective is
to import and
distribute various kinds
of products to
domestic market. It
currently employs approximately 250
staff.
Currently, the major shareholders are
JDH Services Ltd.,
Thailand and IDS
Group Co., Ltd., British Virgin Islands, with
holding at 60.00%
and 40.00% of
the subject’s total
shares respectively.
The subject’s registered
and business address
was initially located
at 2160/1 Ramkhamhaeng
Rd., Huamark, Bangkapi,
Bangkok 10240.
On November 2, 2006, it
was moved to
505 Moo 2, Udom-sorayuth
Rd., T. Klongjik, A. Bangpa-in,
Ayutthaya 13160.
On January 5, 2012,
it was relocated
to 10th - 11th
Floor, Maneeya Center Building,
518/5 Ploenchit Rd.,
Lumpini, Pathumwan, Bangkok
10330, and this
is the subject’s current operation
address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Bancha Suratanachaikul |
|
Thai |
53 |
|
Ms. Pavinee Ajchariyahiranchai |
|
Thai |
56 |
|
Mr. Bruce Graham Hemmingsen |
|
New Zealander |
56 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Bruce Graham
Hemmingsen is the
General Manager.
He is New
Zealander nationality with
the age of
56 years old.
Mr. Pisal Tharapat is
the Sales &
Marketing Manager.
He is Thai
nationality.
Ms. Pavinee
Ajchariyahiranchai is the
Office Management and
Financial Manager.
She is Thai
nationality with the
age of 56
years old.
BUSINESS OPERATIONS
The subject is engaged in distributing and marketing various kinds of products, such as medical instruments,
pharmaceuticals, general healthcare
products, consumer goods,
personal care, “TIMAX” watches &
accessories, and “OKAMOTO”
condom, as well
as home decorative
products, fashion garment,
beauty and cosmetics, foods
and seasoning products.
IMPORT [COUNTRIES]
90% of the products
is imported from United Kingdom,
U.S.A., Germany, France, Australia, Japan,
Singapore, Taiwan, Malaysia,
Switzerland, Republic of
China, India, Vietnam,
Indonesia, Hong Kong
and Spain.
MAJOR SUPPLIERS
Timax Corporation International
Ltd. : U.S.A.
Li & Fung Ltd. : Hong
Kong
Heng Ten Group
Holding Ltd. :
Hong Kong
IDS Manufacturing Ltd. : Thailand
SALES [LOCAL]
100% of its
products is sold
locally to wholesalers
and end-users such
as drug-stores, hospitals
and clinics both
private company and
government sectors, supermarket
and department store.
RELATED/AFFILIATED COMPANIES
IDS Manufacturing Co., Ltd.
:
Thailand
Business Type : Manufacturer
of foods & beverage, health & personal care
products
LF Logistics [Thailand] Co., Ltd.
: Thailand
Business Type : Warehousing & distribution
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 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.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office : 333 Silom
Rd., Silom, Bangrak,
Bangkok]
The Siam Commercial
Bank Public Co.,
Ltd.
[Head Office : 9 Ratchadapisek
Rd., Jatujak, Bangkok]
Krung Thai Bank
Public Co., Ltd.
[Head Office : 35 Sukhumvit
Rd., Klongtoeynua, Wattana,
Bangkok]
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
approximately 250 staff.
[office and sales
staff]
LOCATION DETAILS
The premise is
rented for operating
office at the
heading address. Premise
is located in
commercial/residential area.
Warehouse :
-
505 Moo 2,
Bangpa-in Industrial Estate,
Udomsorayuth Rd., T. Klongjik,
A. Bangpa-in, Ayutthaya
13160. Tel.: [66] 35 258-500,
Fax.: [66] 35 258-475.
- 21/7 Moo
6, T. Kookot,
A. Lamlukka, Pathumthani
12130.
COMMENT
The subject is
one of the
leading suppliers of
pharmaceutical, healthcare, consumer
and household products, industrial
products and etc.
Its products have
been served to
all level of
customers from end-users
to industrial sector.
With variety of
products has enabled
the subject to
be well known among
its customers both
traders and manufacturers.
Despite slow consumption
in domestic market,
its business remains
upbeat.
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 10,000 shares of
Bht. 100 each.
The capital was
increased later as
follows:
Bht. 16,000,000
on July 29, 1981
Bht. 21,500,000
on July 12,
2000
The latest registered
capital was increased
to Bht. 21,500,000
divided into 215,000
shares of Bht.
100 each, with
the current capital
paid-up of Bht.
17,375,000.
THE SHAREHOLDERS LISTED WERE
[as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
JDH Services Ltd. Nationality: Thai Address : 505
Moo 2, Udomsorayuth Rd.,
T.
Klongjik, A. Bangpa-in, Ayutthaya |
128,999 |
60.00 |
|
IDS Group Co.,
Ltd. Nationality: BVI Address : Tortola,
British Virgin Islands |
86,000 |
40.00 |
|
Butler and Webster
[Thailand] Ltd. Nationality: Thai Address : 505
Moo 2, Udomsorayuth Rd.,
T.
Klongjik, A. Bangpa-in, Ayutthaya |
1 |
- |
Total Shareholders : 3
Share Structure
[as at April
30, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
2 |
129,000 |
60.00 |
|
Foreign – BVI |
1 |
86,000 |
40.00 |
|
Total |
3 |
215,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Sudwin Panyawongkhanti No. 3534
BALANCE SHEET [BAHT]
The latest financial
figures published for
December 31, 2012,
2011 & 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash
Equivalents |
23,777,308 |
23,297,498 |
11,671,059 |
|
Trade Accounts & Other Receivable |
780,373,679 |
786,335,920 |
823,236,046 |
|
Inventories |
220,208,680 |
153,034,805 |
213,746,152 |
|
Total Current Assets
|
1,024,359,667 |
962,668,223 |
1,048,653,257 |
|
Fixed Assets |
24,850,631 |
21,855,530 |
12,311,117 |
|
Intangible Assets |
389,185 |
637,271 |
685,036 |
|
Deferred Income Tax |
56,194,271 |
76,222,476 |
63,469,849 |
|
Other Non-current
Assets-Deposit |
1,156,866 |
1,875,780 |
1,859,942 |
|
Total Assets |
1,106,950,620 |
1,063,259,280 |
1,126,979,201 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts & Other Payable |
749,820,210 |
757,847,950 |
737,970,825 |
|
Short-term Loan from Related Company |
189,709,478 |
281,052,668 |
396,366,911 |
|
Accrued Income Tax |
13,113,685 |
30,081,467 |
11,072,299 |
|
Other Current Liabilities |
6,111,620 |
3,256,802 |
6,714,433 |
|
Total Current Liabilities |
958,754,993 |
1,072,238,887 |
1,152,124,468 |
|
|
|
|
|
|
Reserve for Employee’s Benefit |
20,820,420 |
22,378,420 |
14,953,420 |
|
Total Liabilities |
979,575,413 |
1,094,617,307 |
1,167,077,888 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value Authorized & issued share
capital 215,000 shares |
21,500,000 |
21,500,000 |
21,500,000 |
|
Capital Paid |
17,375,000 |
17,375,000 |
17,375,000 |
|
Retained Earning -
Unappropriated |
110,000,207 |
[48,733,027] |
[57,473,687] |
|
Total Shareholders' Equity |
127,375,207 |
[31,358,027] |
[40,098,687] |
|
Total Liabilities & Shareholders' Equity |
1,106,950,620 |
1,063,259,280 |
1,126,979,201 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
2,335,545,452 |
2,892,404,803 |
2,815,465,373 |
|
Other Income |
163,508,140 |
76,927,958 |
63,864,479 |
|
Total Revenues |
2,499,053,592 |
2,969,332,761 |
2,879,329,852 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,735,171,072 |
2,285,489,108 |
2,270,787,446 |
|
Selling Expenses |
488,772,077 |
463,989,275 |
436,460,997 |
|
Administrative Expenses |
53,418,401 |
82,784,751 |
79,147,177 |
|
Other Expenses |
1,243,561 |
79,718,147 |
699,610 |
|
Total Expenses |
2,278,605,111 |
2,911,981,281 |
2,787,095,230 |
|
Profit before Financial Cost &
Income Tax |
220,448,481 |
57,351,480 |
92,234,622 |
|
Financial Cost -
Interest Expenses |
[9,898,645] |
[7,164,205] |
[9,313,297] |
|
Profit before Income
Tax |
210,549,836 |
50,187,275 |
82,921,325 |
|
Income Tax |
[51,816,602] |
[41,446,615] |
[25,620,426] |
|
Net Profit / [Loss] |
158,733,234 |
8,740,660 |
57,300,899 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.07 |
0.90 |
0.91 |
|
QUICK RATIO |
TIMES |
0.84 |
0.76 |
0.72 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
93.98 |
132.34 |
228.69 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.11 |
2.72 |
2.50 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
46.32 |
24.44 |
34.36 |
|
INVENTORY TURNOVER |
TIMES |
7.88 |
14.93 |
10.62 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
121.96 |
99.23 |
106.73 |
|
RECEIVABLES TURNOVER |
TIMES |
2.99 |
3.68 |
3.42 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
157.73 |
121.03 |
118.62 |
|
CASH CONVERSION CYCLE |
DAYS |
10.55 |
2.64 |
22.46 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
74.29 |
79.02 |
80.65 |
|
SELLING & ADMINISTRATION |
% |
23.21 |
18.90 |
18.31 |
|
INTEREST |
% |
0.42 |
0.25 |
0.33 |
|
GROSS PROFIT MARGIN |
% |
32.71 |
23.64 |
21.61 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
9.44 |
1.98 |
3.28 |
|
NET PROFIT MARGIN |
% |
6.80 |
0.30 |
2.04 |
|
RETURN ON EQUITY |
% |
124.62 |
- |
- |
|
RETURN ON ASSET |
% |
14.34 |
0.82 |
5.08 |
|
EARNING PER SHARE |
BAHT |
913.57 |
50.31 |
329.79 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.88 |
1.03 |
1.04 |
|
DEBT TO EQUITY RATIO |
TIMES |
7.69 |
(34.91) |
(29.11) |
|
TIME INTEREST EARNED |
TIMES |
22.27 |
8.01 |
9.90 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(19.25) |
2.73 |
|
|
OPERATING PROFIT |
% |
284.38 |
(37.82) |
|
|
NET PROFIT |
% |
1,716.03 |
(84.75) |
|
|
FIXED ASSETS |
% |
13.70 |
77.53 |
|
|
TOTAL ASSETS |
% |
4.11 |
(5.65) |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is -19.25%. Turnover has decreased from THB
2,892,404,803.00 in 2011 to THB 2,335,545,452.00 in 2012. While net profit has
increased from THB 8,740,660.00 in 2011 to THB 158,733,234.00 in 2012. And
total assets has increased from THB 1,063,259,280.00 in 2011 to THB
1,106,950,620.00 in 2012.
PROFITABILITY : IMPRESSIVE
PROFITABILITY RATIO
|
Gross Profit Margin |
32.71 |
Deteriorated |
Industrial Average |
146.93 |
|
Net Profit Margin |
6.80 |
Impressive |
Industrial Average |
3.82 |
|
Return on Assets |
14.34 |
Impressive |
Industrial Average |
7.09 |
|
Return on Equity |
124.62 |
Impressive |
Industrial Average |
15.67 |
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 32.71%. When compared with
the industry average, the ratio of the company was lower. This indicated that
company may have problems with control over its costs.
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 6.8%,
higher figure when compared with those of its average competitors in the
same industry, indicated that business was an efficient operator in a dominant
position within its industry.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. Return on Assets ratio is
14.34%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit in a dominant position within its industry.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. Return on Equity ratio
is 124.62%, higher figure when compared with those of its average competitors
in the same industry, indicated that business was an efficient profits 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 |
1.07 |
Acceptable |
Industrial Average |
1.69 |
|
Quick Ratio |
0.84 |
|
|
|
|
Cash Conversion Cycle |
10.55 |
|
|
|
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 1.07 times in 2012, increased from 0.9 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 0.84 times in 2012,
increased from 0.76 times, by excluding inventory, the company may have problems
meeting current liabilities.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 11 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.88 |
Acceptable |
Industrial Average |
0.54 |
|
Debt to Equity Ratio |
7.69 |
Risky |
Industrial Average |
1.10 |
|
Times Interest Earned |
22.27 |
Impressive |
Industrial Average |
(0.65) |
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 higher the percentage means that the company is using less equity
and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 22.28 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 Downtrend
ACTIVITY : IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
93.98 |
Impressive |
Industrial Average |
(2.69) |
|
Total Assets Turnover |
2.11 |
Impressive |
Industrial Average |
1.82 |
|
Inventory Conversion Period |
46.32 |
|
|
|
|
Inventory Turnover |
7.88 |
Impressive |
Industrial Average |
4.30 |
|
Receivables Conversion Period |
121.96 |
|
|
|
|
Receivables Turnover |
2.99 |
Satisfactory |
Industrial Average |
3.43 |
|
Payables Conversion Period |
157.73 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.99 and 3.68 in
2012 and 2011 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 2012
decreased from 2011. This would suggest the company had deteriorated in the
management of its debt collections.
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has increased from 24 days at the
end of 2011 to 46 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 14.93 times in year 2011 to 7.88
times in year 2012.
The company's Total Asset Turnover is calculated as 2.11 times and 2.72
times in 2012 and 2011 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 Stable
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
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.