MIRA
INFORM REPORT
|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
CAPITAL MUSICAL CO., LTD. |
|
|
|
|
Registered Office : |
9th Floor, F 902, Bangkok Insurance Building, 25 South Sathorn Road, Thungmahamek, Sathorn, Bangkok 10120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
06.12.1977 |
|
|
|
|
Com. Reg. No.: |
0105520017840 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Distributor of Musical Instrument |
|
|
|
|
No. of Employees : |
50 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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
CAPITAL
MUSICAL CO., LTD.
SUMMARY
BUSINESS ADDRESS : 9th FLOOR,
F 902, BANGKOK INSURANCE
BUILDING,
25
SOUTH
SATHORN ROAD, THUNGMAHAMEK,
SATHORN,
BANGKOK 10120, THAILAND
TELEPHONE : [66] 2287-3092-5
FAX :
[66] 2303-6383
E-MAIL
ADDRESS : cmc1969@trueclick.net
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1977
REGISTRATION
NO. : 0105520017840
TAX
ID NO. : 3101116588
CAPITAL REGISTERED : BHT. 5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. PIPAT WATTANACHAIPONG, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 50
LINES
OF BUSINESS : MUSICAL INSTRUMENT
IMPORTER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on December 6,
1977 as a
private limited company under
the registered name CAPITAL
MUSICAL CO., LTD., by
Thai groups, with
the business objective
to import and distribute
musical instruments, as
well as providing
music training service through
“Capital Musical School”. It
currently employs approximately 50
staff.
The
subject’s registered address
is 9th Floor, F 902,
Bangkok Insurance Building,
25 South Sathorn
Rd., Thungmahamek, Sathorn,
Bangkok 10120, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Pipat Wattanachaipong |
|
Thai |
66 |
|
Mrs. Nattanand [Chitamas]
Wattanachaipong |
|
Thai |
65 |
Note.
Mrs. Chitamas
Wattanachaipong changed her
name to Mrs. Nattanand Wattanachaipong on
November 2, 2009.
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Pipat Wattanachaipong is
the Managing Director.
He is Thai
nationality with the
age of 66
years old.
BUSINESS OPERATIONS
The subject
is engaged in
importing and distributing
musical instruments, specialized
in guitar and
related equipments as
the followings:
Product Brand
Guitar &
equipments “Takamine”, “Ovation”,
“AXL”, “Hamer”, “PRS”,
“Prudencio”
String “D’Addario”
Digital Tuner “Matrix”, “Cherry”
Effects &
Amps “Line
6”, “Peavey”, “Marshall”
Ukulele “Applause”, “Johnson”,
“Ovation”
Other Equipments “Pickboy”
The subject also
provides guitar training
through Capital Musical
School, which currently
has 6 branches,
located in Bangkok
and Pathumthani province.
PURCHASE
90% of the
products is imported
from Japan, Spain,
U.S.A., and Republic
of China, and
the remaining 10%
is purchased from
local suppliers.
MAJOR
SUPPLIERS
M.I.
Engineering Co., Ltd. : Thailand
Takamine
Gakki Co., Ltd. : Japan
SALES
90% of the
products is sold
locally by retail
to end-users, the
remaining 10% is
sold by wholesale to
dealers.
SUBSIDIARY AND
AFFILIATED COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
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
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
The
Siam Commercial Bank
Public Co., Ltd.
Krung
Thai Bank Public
Co., Ltd.
EMPLOYMENT
The
subject currently employs
approximately 50 staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
Branches
- 4th Floor,
Room C 406, Central
World, 4, 4/1, 4/2 Rajdamri
Road, Pathumwan, Bangkok
10330.
- 3rd Floor,
Room 023-024 Fortune Building, 5
Ratchadapisek Road, Dindaeng,
Bangkok
10400.
- 2nd Floor,
Room 2047B, Seacon
Square, 55 Srinakarin Road,
Nongbon, Pravet, Bangkok
10250.
- 2nd Floor, Room 234
Central Pinkloa, 7/370
Boromratchonnee Rd., Arun Amarin,
Bangkoknoi, Bangkok 10700.
- G
Floor, GA 005, Zeer
Rangsit Shopping Center,
99 Moo 8,
Phaholyothin Road, T. Kukoi,
A. Lamlukka,
Pathumthani 12150.
- 2nd Floor,
Room 246A Siam
Paragon, 991 Rama
1 Road, Pathumwan,
Bangkok
10330.
COMMENT
The
subject’s activities are
importer and distributor of music
instrument and related
equipments. The products
have been well-accepted
and entrusted by
its customers, and
this has resulted
to success in
business operation on both sales
and services consistently.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 200,000
divided into 2,000
shares of Bht.
100 each with
fully paid.
The
capital was increased
later as follows:
Bht. 2,200,000
on December 19,
1991
Bht. 8,000,000
on November 30,
1993
On
December 22, 2009,
the registered capital
was decreased to
Bht. Bht. 5,000,000
divided into 50,000
shares of Bht. 100
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Pipat Wattanachaipong Nationality: Thai Address : 39/165
South Sathorn Rd.,
Thungmahamek, Sathorn, Bangkok
|
25,000 |
50.00 |
|
Mrs. Nattanand Wattanachaipong Nationality: Thai Address : 39/165
South Sathorn Rd.,
Thungmahamek, Sathorn,
Bangkok |
24,200 |
48.40 |
|
Ms. Suchinda Wattanachaipong Nationality: Thai Address : 9
Soi Chan 18/7
Yaek 21, Thungwatdon,
Sathorn, Bangkok |
400 |
0.80 |
|
Mrs. Suvimol Sudayuworn Nationality: Thai Address : 148/150
Yaowaraj Rd., Samphantawong, Bangkok |
320 |
0.64 |
|
Mr. Atish Wattanachaipong Nationality: Thai Address : 39/166
South Sathorn Rd.,
Thungmahamek, Sathorn,
Bangkok |
80 |
0.16 |
Total Shareholders : 5
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
50,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
5 |
50,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Natchanan Kritikanont No.
6934
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
2,175,669.94 |
522,824.98 |
444,407.64 |
|
Short-term Investment |
4,154,357.08 |
4,000,000.00 |
- |
|
Trade Accounts Receivable
|
107,831.00 |
102,595.50 |
98,865.00 |
|
Inventories |
21,690,487.17 |
17,702,486.61 |
10,527,962.72 |
|
Current Portion of Leasehold |
1,298,870.64 |
1,324,365.50 |
1,518,562.95 |
|
Other Current Assets
|
166,912.40 |
201,007.53 |
232,044.75 |
|
|
|
|
|
|
Total Current Assets
|
29,594,128.23 |
23,853,280.12 |
12,821,843.06 |
|
Long-term Investment
|
2,541,220.09 |
2,662,310.01 |
2,871,210.76 |
|
Fixed Assets |
9,908,376.38 |
11,207,247.02 |
12,531,612.52 |
|
Other Non – current Assets |
1,008,007.96 |
508,033.88 |
404,441.50 |
|
Total Assets |
43,051,732.66 |
38,230,871.03 |
28,629,107.84 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
17,610,301.81 |
6,344,422.60 |
5,994,674.54 |
|
Trade Accounts Payable
|
8,338,352.27 |
11,319,672.73 |
3,897,394.58 |
|
Current Portion of
Long-term Loans |
1,118,568.35 |
1,014,432.80 |
876,000.00 |
|
Accrued Expenses |
106,515.58 |
1,198,339.05 |
287,478.07 |
|
Other Current Liabilities |
872,138.42 |
956,006.09 |
824,176.74 |
|
|
|
|
|
|
Total Current Liabilities |
28,045,876.43 |
20,832,873.27 |
11,879,723.93 |
|
Long-term Loan |
4,109,251.87 |
5,207,846.58 |
6,222,279.38 |
|
Total Liabilities |
32,155,128.30 |
26,040,719.85 |
18,102,003.31 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 50,000 shares |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
|
|
|
|
|
Capital Paid |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
800,000.00 |
800,000.00 |
800,000.00 |
|
Unappropriated |
5,096,604.36 |
6,390,151.18 |
4,727,104.53 |
|
Total Shareholders' Equity |
10,896,604.36 |
12,190,151.18 |
10,527,104.53 |
|
Total Liabilities &
Shareholders' Equity |
43,051,732.66 |
38,230,871.03 |
28,629,107.84 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
56,324,163.96 |
57,629,071.21 |
38,946,096.79 |
|
Other Income |
128,115.69 |
141,774.92 |
514,578.72 |
|
Total Revenues |
56,452,279.65 |
57,770,846.13 |
39,460,675.51 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
28,985,906.49 |
28,505,815.31 |
19,193,914.51 |
|
Selling Expenses |
6,036,215.77 |
5,538,930.54 |
3,929,949.30 |
|
Administrative Expenses |
15,667,095.88 |
15,416,655.09 |
12,980,267.38 |
|
Total Expenses |
50,689,218.14 |
49,461,400.94 |
36,104,131.19 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
5,763,061.51 |
8,309,445.19 |
3,356,544.32 |
|
Financial Costs |
[906,564.75] |
[561,820.46] |
661,375.26 |
|
Profit / [Loss] before Income
Tax |
4,857,017.93 |
7,747,624.73 |
2,695,169.06 |
|
Income Tax |
[1,150,564.75] |
[2,084,578.08] |
455,304.50 |
|
|
|
|
|
|
Net Profit / [Loss] |
3,706,453.18 |
5,663,046.65 |
2,239,864.56 |
|
Retained Earning,
Beginning of Year |
6,390,151.18 |
4,727,104.53 |
5,487,239.97 |
|
Less: Dividend |
[5,000,000.00] |
[4,000,000.00] |
[3,000,000.00] |
|
Retained Earning, End of
Year |
5,096,604.36 |
6,390,151.18 |
4,727,104.53 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.06 |
1.14 |
1.08 |
|
QUICK RATIO |
TIMES |
0.23 |
0.22 |
0.05 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.68 |
5.14 |
3.11 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.31 |
1.51 |
1.36 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
273.13 |
226.67 |
200.20 |
|
INVENTORY TURNOVER |
TIMES |
1.34 |
1.61 |
1.82 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
0.70 |
0.65 |
0.93 |
|
RECEIVABLES TURNOVER |
TIMES |
522.34 |
561.71 |
393.93 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
105.00 |
144.94 |
74.11 |
|
CASH CONVERSION CYCLE |
DAYS |
168.83 |
82.38 |
127.02 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
51.46 |
49.46 |
49.28 |
|
SELLING & ADMINISTRATION |
% |
38.53 |
36.36 |
43.42 |
|
INTEREST |
% |
1.61 |
0.97 |
1.70 |
|
GROSS PROFIT MARGIN |
% |
48.76 |
50.78 |
52.04 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
10.23 |
14.42 |
8.62 |
|
NET PROFIT MARGIN |
% |
6.58 |
9.83 |
5.75 |
|
RETURN ON EQUITY |
% |
34.01 |
46.46 |
21.28 |
|
RETURN ON ASSET |
% |
8.61 |
14.81 |
7.82 |
|
EARNING PER SHARE |
BAHT |
74.13 |
113.26 |
44.80 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.75 |
0.68 |
0.63 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.95 |
2.14 |
1.72 |
|
TIME INTEREST EARNED |
TIMES |
6.36 |
14.79 |
5.08 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(2.26) |
47.97 |
|
|
OPERATING PROFIT |
% |
(30.64) |
147.56 |
|
|
NET PROFIT |
% |
(34.55) |
152.83 |
|
|
FIXED ASSETS |
% |
(11.59) |
(10.57) |
|
|
TOTAL ASSETS |
% |
12.61 |
33.54 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -2.26%. Turnover has decreased from THB
57,629,071.21 in 2011 to THB 56,324,163.96 in 2012. While net profit has
decreased from THB 5,663,046.65 in 2011 to THB 3,706,453.18 in 2012. And total
assets has increased from THB 38,230,871.03 in 2011 to THB 43,051,732.66 in
2012.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
48.76 |
Impressive |
Industrial
Average |
12.30 |
|
Net Profit Margin |
6.58 |
Impressive |
Industrial
Average |
2.01 |
|
Return on Assets |
8.61 |
Impressive |
Industrial
Average |
3.37 |
|
Return on Equity |
34.01 |
Impressive |
Industrial
Average |
10.88 |
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 48.76%. 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 6.58%, 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
8.61%, 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 34.01%, 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 : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.06 |
Acceptable |
Industrial
Average |
1.69 |
|
Quick Ratio |
0.23 |
|
|
|
|
Cash Conversion Cycle |
168.83 |
|
|
|
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 1.06 times in 2012, decreased from 1.14 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 0.23 times in 2012,
increased from 0.22 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 169 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.75 |
Acceptable |
Industrial
Average |
0.61 |
|
Debt to Equity Ratio |
2.95 |
Risky |
Industrial Average |
1.69 |
|
Times Interest Earned |
6.36 |
Impressive |
Industrial
Average |
0.29 |
Debt to Equity Ratio a measurement of how much suppliers, lenders,
creditors and obligors have committed to the company versus what the shareholders
have committed. A lower the percentage means that the company is using less
leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 6.36 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 0.75 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
5.68 |
Impressive |
Industrial
Average |
1.03 |
|
Total Assets Turnover |
1.31 |
Acceptable |
Industrial
Average |
1.76 |
|
Inventory Conversion Period |
273.13 |
|
|
|
|
Inventory Turnover |
1.34 |
Deteriorated |
Industrial
Average |
3.30 |
|
Receivables Conversion Period |
0.70 |
|
|
|
|
Receivables Turnover |
522.34 |
Impressive |
Industrial
Average |
2.76 |
|
Payables Conversion Period |
105.00 |
|
|
|
The company's Account Receivable Ratio is calculated as 522.34 and 561.71
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 227 days at the
end of 2011 to 273 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 1.61 times in year 2011 to 1.34 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.31 times and 1.51
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
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.