MIRA
INFORM REPORT
|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ENTECH ASSOCIATE CO., LTD. |
|
|
|
|
Registered Office : |
17/121 Moo 6, Soi Chinakhet 2/46, Ngamwongwan Road, Thungsonghong, Laksi, Bangkok 10210 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
24.03.1993 |
|
|
|
|
Com. Reg. No.: |
0105536035591 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer & Distributor of Industrial Measuring Instruments |
|
|
|
|
No. of Employees : |
90 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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
ENTECH
ASSOCIATE CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 17/121 MOO 6,
SOI CHINAKHET 2/46,
NGAMWONGWAN ROAD,
THUNGSONGHONG,
LAKSI, BANGKOK
10210, THAILAND
TELEPHONE : [66] 2831-6666,
2831-6660
FAX :
[66] 2831-6667,
2831-6654
E-MAIL
ADDRESS : info@entech.co.th
sopon@entech.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1993
REGISTRATION
NO. : 0105536035591 [Former : [1]
672/2536]
TAX
ID NO. : 3011248867
CAPITAL REGISTERED : BHT. 75,000,000
CAPITAL PAID-UP : BHT.
75,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SOPON NANASOMBAT, THAI
CHIEF EXECUTIVE
OFFICER
NO.
OF STAFF : 90
LINES
OF BUSINESS : INDUSTRIAL MEASURING
INSTRUMENTS
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 24, 1993
as a private
limited company under the
name style ENTECH ASSOCIATE CO.,
LTD., by
Thai groups, to import
and distribute measuring
instruments for various industries. It currently
employs approximately 90
staff.
The
subject has achieved
many international standards
as follows:
In
2002 : ISO
9001:2000 certification for
the products and
services quality
system from
UKAS and NAC.
In
2005 : ISO/IEC 17025 : 2005
In
2008 : ISO 9001 : 2008
The
subject’s registered address
is 17/121 Moo 6, Soi Chinakhet
2/46, Ngamwongwan Rd.,
Thungsonghong, Laksi, Bangkok
10210, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Paiboon Oonpattanasilp |
[x] |
Thai |
46 |
|
Mr. Sopon Nanasombat |
[x] |
Thai |
44 |
|
Mr. Somporn Muangkaew |
[x] |
Thai |
48 |
|
Mr. Phansak Leelawankulsiri |
|
Thai |
62 |
|
Mr. Suthee Panavorn |
|
Thai |
54 |
|
Mr. Viwat Wetayanukul |
|
Thai |
56 |
|
Mr. Prapat Vanapitak |
|
Thai |
61 |
AUTHORIZED PERSON
Two of the
above directors [x]
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Sopon Nanasombat
is the Chief
Executive Officer.
He is Thai
nationality with the
age of 44
years old.
Mr. Paiboon Oonpattanasilp is
the Managing Director
& Sales Manager.
He is Thai
nationality with the
age of 46
years old.
Mr. Somporn Muangkaew is the
Co-Managing Director.
He is Thai
nationality with the
age of 48
years old.
Ms. Natthakeeraya Wijit is
the Sales Director.
She is Thai
nationality.
Ms. Kamolthip Kharmdee is
the Accounting Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in
importing and distributing various
kinds of measuring instruments
for industry, energy
and safety environment. Its
products are measuring
equipments for temperature,
humidity, air velocity,
flue gas, pressure
gas, indoor air
quality, water analysis, gas detector, personal sampling
pump, passive sampler, control measuring
equipment, light & sound
measuring equipment, particulate
monitor, sound and
noise dosimeter, ultrasonic
liquid flow meter
and etc.
Subject also provides services
for the products, such
as technical consultant and
environmental measurement in
industrial plant.
MAJOR BRANDS
“TESTO”, “CASELLA”, “OLDHAM”,
“SKC”, “MICRONICS”, “DYNASONICS”,
“ELCOLD”, “OLYMPUS”, “SAXON”,
“SKC”, “GASMET” and
etc.
IMPORT
100%
of the products
is imported from
Germany, Singapore, France,
Canada,
Republic
of China, United
Kingdom, United States of
America, Taiwan and
Japan.
MAJOR
SUPPLIERS
Testo GmbH : Germany
Hoelzle & Chelius GmbH : Germany
Oldham France SA. : France
SKC Inc. : United
States of America
Micronics Ltd. : United
Kingdom
Zirox Sensoren and
Electronik GmbH. : Germany
Industrial Scientific Corporation : United
States of America
Gasmet Technologies Inc. : Canada
Ideal Industries Ltd. : United
Kingdom
SALES
[LOCAL]
100%
of the products
is sold locally
to dealers and
end-users.
MAJOR
CUSTOMERS
The Siam Cement
Public Co., Ltd. : Thailand
Esso Standard Thailand
Public Co., Ltd. :
Thailand
National Starch &
Chemical Co., Ltd. : Thailand
Thai Oil Public
Co., Ltd. :
Thailand
RELATED AND
AFFILIATED COMPANIES
CMS Technology Co., Ltd.
Business Type: Importer
& distributor of
measuring and analyzing
equipments
Accuplus Instruments Co.,
Ltd.
Business Type: Manufacturer
of temperature control
incubators
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.
Imports
are by L/C
at sight or
T/T.
BANKING
The
Siam Commercial Bank
Public Co., Ltd.
[Prachanivet Branch :
Prachachuen Rd., Ladyao,
Jatujak, Bangkok 10900]
Kasikornbank
Public Co., Ltd.
[Ngamwongwan Branch :
Ngamwongwan Rd., Muang,
Nonthaburi]
EMPLOYMENT
The
subject employs approximately
90 staff [office
staff and services
workers].
LOCATION DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise
is
located in residential area.
COMMENT
The subject
was formed in 1993 as
an importer and
distributor of industrial
measuring instruments. It is
known as one
of Thailand major
importers and distributors
various measuring products
from Canada, US
and many European
countries. The products
are mainly supplied to multi-levels of
users. Its customer
base has widened into
many industries.
FINANCIAL INFORMATION
The
capital was initially
registered at Bht.
1,000,000 divided into
10,000 shares of
Bht. 100 each.
The
capital was increased
later as the
followings:
Bht. 10,000,000
on April 10,
2000
Bht. 25,000,000
on December 18,
2003
Bht. 75,000,000
on January 25,
2011
The
latest registered capital
was increased to
Bht. 75,000,000 divided into
750,000 shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Paiboon Oonpattanasilp Nationality: Thai Address : 237 Moo
5, Kohsriborya, Klongnua, Krabi |
366,548 |
48.87 |
|
Mr. Sopon Nanasombat Nationality: Thai Address : 17/121 Moo 6,
Thungsonghong, Laksi, Bangkok 10210 |
366,548 |
48.87 |
|
Mr. Somporn Muangkaew Nationality: Thai Address : 32/9 Moo
3, Chimplee, Talingchan,
Bangkok |
16,904 |
2.26 |
Total Shareholders : 3
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
750,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
750,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Pradit Rodloythuk No. 0218
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 |
7,829,804.83 |
13,695,994.60 |
28,765,653.42 |
|
Trade Accounts &
Other Receivable |
61,561,400.67 |
40,209,910.57 |
32,584,764.67 |
|
Short-term Lending to
Subsidiary |
6,700,000.00 |
6,700,000.00 |
- |
|
Inventories |
25,408,293.47 |
27,373,775.07 |
19,734,462.64 |
|
Other Current Assets
|
714,328.49 |
320,470.26 |
802,954.86 |
|
|
|
|
|
|
Total Current Assets
|
102,213,827.46 |
88,300,150.50 |
81,887,835.59 |
|
Other Long-term Investment - Fixed Deposit |
- |
10,800,000.00 |
- |
|
Cash at Bank
pledged as a Collateral |
27,809,292.72 |
12,797,370.55 |
12,651,712.79 |
|
Investment in Subsidiary |
4,999,700.00 |
4,999,700.00 |
- |
|
Fixed Assets |
61,799,564.73 |
49,316,034.40 |
47,663,464.05 |
|
Intangible Assets |
2,740,584.32 |
2,516,364.97 |
2,590,736.74 |
|
Other Non-current Assets |
430,397.73 |
578,479.53 |
500,782.21 |
|
Total Assets |
199,993,366.96 |
169,308,099.95 |
145,294,531.38 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft |
- |
1,759,436.68 |
897,697.51 |
|
Trade Accounts &
Other Payable |
61,648,023.62 |
24,083,831.30 |
32,119,682.16 |
|
Current Portion of
Long-term Loan |
4,274,249.24 |
3,864,000.00 |
3,864,000.00 |
|
Current Portion of
Finance Lease Contract Liabilities |
439,054.46 |
503,514.49 |
464,439.53 |
|
Short-term Loan from Related Person |
- |
17,626,024.38 |
21,167,744.38 |
|
Accrued Income Tax |
3,561,204.64 |
5,010,176.78 |
4,358,173.41 |
|
Other Current Liabilities |
1,595,962.63 |
1,423,478.48 |
1,660,583.97 |
|
|
|
|
|
|
Total Current Liabilities |
71,518,494.59 |
54,270,462.11 |
64,532,320.96 |
|
Long-term Loan |
17,771,295.63 |
17,984,000.00 |
21,848,000.00 |
|
Finance Lease Contract Liabilities |
400,917.26 |
540,839.55 |
637,190.02 |
|
Employee Benefit Obligation |
9,986,384.00 |
8,848,126.00 |
- |
|
Total Liabilities |
99,677,091.48 |
81,643,427.66 |
87,017,510.98 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 750,000 shares in 2012 &
2011: 250,000 shares in
2010 respectively |
75,000,000.00 |
75,000,000.00 |
25,000,000.00 |
|
|
|
|
|
|
Capital Paid |
75,000,000.00 |
75,000,000.00 |
25,000,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
7,500,000.00 |
2,500,000.00 |
2,500,000.00 |
|
Unappropriated |
17,816,275.48 |
10,164,672.29 |
30,777,020.40 |
|
Total Shareholders' Equity |
100,316,275.48 |
87,664,672.29 |
58,277,020.40 |
|
Total Liabilities & Shareholders' Equity |
199,993,366.96 |
169,308,099.95 |
145,294,531.38 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales & Service
Income |
209,460,035.22 |
191,968,535.22 |
193,182,231.07 |
|
Other Income |
7,638,937.52 |
1,965,249.97 |
2,738,088.25 |
|
Total Revenues |
217,098,972.74 |
193,933,785.19 |
195,920,319.32 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
118,753,762.89 |
104,012,570.69 |
112,416,251.50 |
|
Selling Expenses |
32,640,164.34 |
26,131,305.56 |
26,713,374.69 |
|
Administrative Expenses |
42,534,936.44 |
42,625,498.48 |
37,525,684.22 |
|
Total Expenses |
193,928,863.67 |
172,769,374.73 |
176,655,310.41 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
23,170,109.07 |
21,164,410.46 |
19,265,008.91 |
|
Financial Costs |
[2,592,001.67] |
[1,935,491.18] |
[1,095,029.46] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
20,578,107.40 |
19,228,919.28 |
18,169,979.45 |
|
Income Tax |
[5,826,504.21] |
[9,064,246.99] |
[6,920,554.58] |
|
|
|
|
|
|
Net Profit / [Loss] |
14,751,603.19 |
10,164,672.29 |
11,249,428.87 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.43 |
1.63 |
1.27 |
|
QUICK RATIO |
TIMES |
1.06 |
1.12 |
0.95 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.39 |
3.89 |
4.05 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.05 |
1.13 |
1.33 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
78.09 |
96.06 |
64.08 |
|
INVENTORY TURNOVER |
TIMES |
4.67 |
3.80 |
5.70 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
107.28 |
76.45 |
61.57 |
|
RECEIVABLES TURNOVER |
TIMES |
3.40 |
4.77 |
5.93 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
189.48 |
84.51 |
104.29 |
|
CASH CONVERSION CYCLE |
DAYS |
(4.11) |
88.00 |
21.35 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
56.70 |
54.18 |
58.19 |
|
SELLING & ADMINISTRATION |
% |
35.89 |
35.82 |
33.25 |
|
INTEREST |
% |
1.24 |
1.01 |
0.57 |
|
GROSS PROFIT MARGIN |
% |
46.95 |
46.84 |
43.23 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
11.06 |
11.02 |
9.97 |
|
NET PROFIT MARGIN |
% |
7.04 |
5.29 |
5.82 |
|
RETURN ON EQUITY |
% |
14.71 |
11.59 |
19.30 |
|
RETURN ON ASSET |
% |
7.38 |
6.00 |
7.74 |
|
EARNING PER SHARE |
BAHT |
19.67 |
13.55 |
45.00 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.50 |
0.48 |
0.60 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.99 |
0.93 |
1.49 |
|
TIME INTEREST EARNED |
TIMES |
8.94 |
10.93 |
17.59 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
9.11 |
(0.63) |
|
|
OPERATING PROFIT |
% |
9.48 |
9.86 |
|
|
NET PROFIT |
% |
45.13 |
(9.64) |
|
|
FIXED ASSETS |
% |
25.31 |
3.47 |
|
|
TOTAL ASSETS |
% |
18.12 |
16.53 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 9.11%. Turnover has increased from THB
191,968,535.22 in 2011 to THB 209,460,035.22 in 2012. While net profit has
increased from THB 10,164,672.29 in 2011 to THB 14,751,603.19 in 2012. And
total assets has increased from THB 169,308,099.95 in 2011 to THB
199,993,366.96 in 2012.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
46.95 |
Impressive |
Industrial
Average |
42.74 |
|
Net Profit Margin |
7.04 |
Impressive |
Industrial
Average |
1.65 |
|
Return on Assets |
7.38 |
Impressive |
Industrial
Average |
3.20 |
|
Return on Equity |
14.71 |
Impressive |
Industrial
Average |
8.90 |
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 46.95%. 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 7.04%, 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 7.38%, 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 14.71%,
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 :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.43 |
Satisfactory |
Industrial
Average |
1.48 |
|
Quick Ratio |
1.06 |
|
|
|
|
Cash Conversion Cycle |
(4.11) |
|
|
|
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 1.43 times in 2012, decreased from 1.63 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 1.06 times in 2012,
decreased from 1.12 times, although excluding inventory so the company still have
good short-term financial strength.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for -5 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.50 |
Impressive |
Industrial Average |
0.64 |
|
Debt to Equity Ratio |
0.99 |
Impressive |
Industrial
Average |
1.83 |
|
Times Interest Earned |
8.94 |
Impressive |
Industrial
Average |
1.01 |
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 8.94 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 0.5, most of the company's assets are
financed through equity.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Downtrend
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.39 |
Impressive |
Industrial
Average |
1.33 |
|
Total Assets Turnover |
1.05 |
Acceptable |
Industrial
Average |
1.93 |
|
Inventory Conversion Period |
78.09 |
|
|
|
|
Inventory Turnover |
4.67 |
Satisfactory |
Industrial
Average |
5.00 |
|
Receivables Conversion Period |
107.28 |
|
|
|
|
Receivables Turnover |
3.40 |
Impressive |
Industrial
Average |
3.39 |
|
Payables Conversion Period |
189.48 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.40 and 4.77 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 decreased from 96 days at the
end of 2011 to 78 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 3.8 times in year 2011 to 4.67 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.05 times and 1.13
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 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.