MIRA INFORM REPORT
|
Report Date : |
29.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
CAPSULE PRODUCTS COMPANY LIMITED |
|
|
|
|
Registered Office : |
19/11-14 SOI Wattana,
Sukhumvit 19 Road, Klongtoey Nua,
Wattana, Bangkok 10110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
10.06.1980 |
|
|
|
|
Com. Reg. No.: |
0105523009961 [Former :
998/2523] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor &
Exporter of Gelatin Capsule
Products |
|
|
|
|
No. of Employees : |
120 |
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
CAPSULE PRODUCTS COMPANY LIMITED
SUMMARY
BUSINESS ADDRESS : 19/11-14 SOI WATTANA,
SUKHUMVIT 19 ROAD,
KLONGTOEY NUA,
WATTANA,
BANGKOK 10110,
THAILAND
TELEPHONE : [66] 2250-1586-7,
2250-1886-7
FAX : [66] 2250-2504
E-MAIL ADDRESS : capsule@capsuleproducts.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1980
REGISTRATION NO. : 0105523009961 [Former : 998/2523]
TAX ID NO. : 3101164541
CAPITAL REGISTERED : BHT.
50,000,000
CAPITAL PAID-UP : BHT. 50,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
APICHAI KITTIVORAVITKUL, THAI
MANAGING DIRECTOR
NO. OF STAFF : 120
LINES OF BUSINESS : GELATIN CAPSULE
PRODUCTS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH FAIR PERFORMANCE
HISTORY
The subject was
established on June
10, 1980 as
a private limited
company under the
name style CAPSULE
PRODUCTS COMPANY LIMITED by
Thai groups, in
order to produce
wide range of
gelatin capsules products
to both local
and overseas markets,
with GMP and
HACCP practice. It
has obtained quality standard
ISO 9001 : 2008 certification
for the
production by UKAS and SGS. It currently employs
approximate 120 staff.
The subject’s registered
address is 19/11-14
Soi Wattana, Sukhumvit
19 Rd., Klongtoey
Nua, Wattana, Bangkok
10110, and this
is the company’s
current operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Apichai
Kittivoravitkul |
[x] |
Thai |
70 |
|
Mr. Manas Hemastapath |
[x] |
Thai |
63 |
|
Mr. Anake Nithipitikarn |
[x] |
Thai |
65 |
|
Mr. Pichai Nithipitikarn |
|
Thai |
74 |
|
Mr. Patrapong Kittivoravitkul |
|
Thai |
37 |
AUTHORIZED PERSON
Two of the
mentioned directors [x] can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Apichai Kittivoravitkul is the
Managing Director.
He is Thai
nationality with the
age of 70
years old.
Mr. Manas Hemastapath
is the Deputy
Managing Director.
He is Thai
nationality with the age of 63
years old.
Mr. Prawit Laovitthayanurak is
the Marketing Manager.
He is Thai
nationality.
Mrs. Chulee Ariyapong
is the Account
& Finance Manager.
She is Thai
nationality.
Mr. Praphon Kittivoravitkul is
the Factory Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged
in manufacturing service
wide range of
capsule products including
empty hard gelatin
capsules and transparent
capsules with size 0, 1, 2, 3 and 4, as well
as pearl capsules,
flavor capsules, capsules
for food and
dietary supplement, CPV-caps and printing capsules, under its
own brand “CP”
for pharmaceutical, herbal
medicine, herbal foods
and supplement industries.
PURCHASE
60% of raw
materials mainly gelatin
and packaging materials
are imported from
United States of
America, United Kingdom,
Germany, Canada, India,
Japan and Republic
of China, and
the remaining 40%
is purchased from
local suppliers.
MAJOR SUPPLIER
Technophar Equipment and
Service [2007] Ltd. :
Canada
SALES [LOCAL]
85% of the products
is sold locally
to Thai Government,
manufacturers, wholesalers and end-users.
EXPORT [COUNTRY]
15% of the
products is exported
to overseas manufacturers
in Asian countries
such as Laos,
Republic of China, Malaysia, Vietnam, Australia, Taiwan, Pakistan,
Korea, Philippines, India, South
Africa, Indonesia, Hong
Kong, Singapore and
etc.
MAJOR CUSTOMER
The Government
Pharmaceutical Organization :
Thailand
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
L/C at sight
or T/T.
Exports are against
L/C at sight
or T/T.
BANKING
Krung Thai Bank
Public Co., Ltd.
[Head Office
: 35 Sukhumvit
Rd., Klongtoey Nua,
Wattana, Bangkok 10110]
Bangkok Bank Public Co., Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok 10500]
Kasikornbank Public Co.,
Ltd.
[Head Office
: 1 Kasikorn
Lane, Rajburana Rd.,
Rajburana, Bangkok 10140]
EMPLOYMENT
The subject employs
approximately 120 office
staff and factory
workers.
LOCATION DETAILS
The premise is
owned for administrative office
in a 4
storey building of
4 row shop
houses at the
heading address. Premise
is located in
commercial/residential area.
Factory is on
16,000 square meters
plot of land,
at 131 Moo 14,
Sukhapibal 2 Rd.,
Onnuch, Praves, Bangkok
10250.Tel : [66] 2329-1029-30
Fax : [66]
2329-1550
COMMENT
The pharmaceutical and health
products industry has continued growing strong with
higher demand each
year, especially vitamins
and supplement foods.
The company serves
the local and international
markets with its high
quality products for
more than two decades. It
has been enjoying
good business and
expanding steadily. Growth
of the industries have
contributed the subject
a good business
outcome.
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
follows :
Bht. 20,000,000
on August 7,
1980
Bht. 25,000,000
on February 19,
1982
Bht. 30,000,000
on April 14,
1982
Bht. 36,000,000
on September 22,
1982
Bht. 50,000,000
on December 1,
1983
The latest registered
capital was increased
to Bht. 50,000,000 divided into 500,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS LISTED WERE
[as at April
26, 2013]
|
NAME |
HOLDING |
% |
|
Mr. Apichai Kittivoravitkul Nationality: Thai Address : 49/1-2
Soi Prasanmitr, Sukhumvit
Rd.,
Klongtoey, Prakanong, Bangkok |
220,305 |
44.06 |
|
Mr. Manas Hemastapath
Nationality: Thai Address : 2
Soi Lertsin 2,
Sukhumvit Rd.,
Klongtoey, Prakanong, Bangkok |
76,715 |
15.34 |
|
Mr. Anake Nithipitakarn Nationality: Thai Address : 21/7
Chareonkrung Rd., Taladnoi,
Samphantawong, Bangkok |
53,006 |
10.60 |
|
Mr. Pichai Nithipitakarn Nationality: Thai Address : 21/7
Chareonkrung Rd., Taladnoi,
Samphantawong, Bangkok |
52,999 |
10.60 |
|
Mrs. Naowarat
Kittivoravitkul Nationality: Thai Address : 49/1-2
Soi Prasanmitr, Sukhumvit
Rd.,
Klongtoey, Prakanong, Bangkok |
42,509 |
8.50 |
|
Ms. Poraya Khunathien Nationality: Thai Address : 91/46
Moo 5, Thakharm, Bangkhunthien, Bangkok |
29,466 |
5.90 |
|
Mr. Vichai Chaiamnuay
Nationality: Thai Address : 16
Pahurad Rd., Wangburapapirom, Pranakorn, Bangkok |
25,000 |
5.00 |
Total Shareholders : 7
Share
Structure [as at
April 26, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
500,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Piratchai Prakobsap
No. 3082
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 |
307,585.71 |
505,996.03 |
325,485.03 |
|
Trade Accounts Receivable |
41,901,094.31 |
39,020,007.92 |
25,416,834.14 |
|
Inventories |
95,592,183.04 |
113,699,518.74 |
107,305,435.52 |
|
Other Current Assets
|
2,883,125.18 |
7,348,615.48 |
4,743,730.60 |
|
|
|
|
|
|
Total Current Assets
|
140,683,988.24 |
160,574,138.17 |
137,791,485.29 |
|
Fixed Assets |
104,674,427.82 |
71,065,679.89 |
67,626,743.72 |
|
Total Assets |
245,358,416.06 |
231,639,818.06 |
205,418,229.01 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial Institution |
44,306,974.14 |
51,194,860.34 |
41,000,377.45 |
|
Trade Accounts Payable |
36,581,854.52 |
25,902,671.35 |
33,970,730.89 |
|
Other Current Liabilities |
4,512,873.10 |
3,994,700.32 |
3,702,132.01 |
|
|
|
|
|
|
Total Current Liabilities |
85,401,701.76 |
81,092,232.01 |
78,673,240.35 |
|
|
|
|
|
|
Long-term Loan from Financial Installation |
54,672,430.00 |
47,310,141.90 |
24,870,051.90 |
|
Employees Benefit Obligation |
11,427,937.62 |
- |
- |
|
Total Liabilities |
151,502,069.38 |
128,402,373.91 |
103,543,292.25 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 500,000 shares |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
|
|
|
|
|
Capital Paid |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Retained Earning Appropriated for
Statutory Reserve |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Unappropriated |
38,856,346.68 |
48,237,444.15 |
46,874,936.76 |
|
Total Shareholders' Equity |
93,856,346.68 |
103,237,444.15 |
101,874,936.76 |
|
Total Liabilities & Shareholders' Equity |
245,358,416.06 |
231,639,818.06 |
205,418,229.01 |
PROFIT & LOSS ACCOUNT
|
|
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
164,711,044.30 |
126,468,177.75 |
103,840,973.77 |
|
Other Income |
66,202.52 |
29,662.21 |
27,204.25 |
|
Total Revenues |
164,777,246.82 |
126,497,839.96 |
103,868,178.02 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
129,079,652.68 |
93,360,400.08 |
74,111,031.75 |
|
Selling and Administrative Expenses |
28,771,606.49 |
27,059,519.06 |
27,940,572.97 |
|
Other Expenses |
4,338,619.21 |
3,668,831.84 |
- |
|
Total Expenses |
162,189,878.38 |
124,088,750.98 |
102,051,604.72 |
|
|
|
|
|
|
Profit / [Loss] before Interest Expenses &
Income Tax |
2,587,368.44 |
2,409,088.98 |
1,816,573.30 |
|
Interest Expenses |
- |
- |
[2,717,655.61] |
|
Income Tax |
[1,314,375.09] |
[1,370,504.73] |
[1,025,642.82] |
|
|
|
|
|
|
Profit for Year |
1,272,993.35 |
1,038,584.25 |
[1,926,725.13] |
|
Gain on Change
Exchange Rate |
773,846.80 |
323,923.14 |
- |
|
Extraordinary Items |
- |
- |
2,146,761.56 |
|
|
|
|
|
|
Net Profit / [Loss] |
2,046,840.15 |
1,362,507.39 |
220,036.43 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.65 |
1.98 |
1.75 |
|
QUICK RATIO |
TIMES |
0.49 |
0.49 |
0.33 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.57 |
1.78 |
1.54 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.67 |
0.55 |
0.51 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
270.31 |
444.52 |
528.48 |
|
INVENTORY TURNOVER |
TIMES |
1.35 |
0.82 |
0.69 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
92.85 |
112.62 |
89.34 |
|
RECEIVABLES TURNOVER |
TIMES |
3.93 |
3.24 |
4.09 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
103.44 |
101.27 |
167.31 |
|
CASH CONVERSION CYCLE |
DAYS |
259.72 |
455.86 |
450.52 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
78.37 |
73.82 |
71.37 |
|
SELLING & ADMINISTRATION |
% |
17.47 |
21.40 |
26.91 |
|
INTEREST |
% |
- |
- |
2.62 |
|
GROSS PROFIT MARGIN |
% |
21.67 |
26.20 |
28.66 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.57 |
1.90 |
1.75 |
|
NET PROFIT MARGIN |
% |
1.24 |
1.08 |
0.21 |
|
RETURN ON EQUITY |
% |
2.18 |
1.32 |
0.22 |
|
RETURN ON ASSET |
% |
0.83 |
0.59 |
0.11 |
|
EARNING PER SHARE |
BAHT |
4.09 |
2.73 |
0.44 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.62 |
0.55 |
0.50 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.61 |
1.24 |
1.02 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
0.67 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
30.24 |
21.79 |
|
|
OPERATING PROFIT |
% |
7.40 |
32.62 |
|
|
NET PROFIT |
% |
50.23 |
519.22 |
|
|
FIXED ASSETS |
% |
47.29 |
5.09 |
|
|
TOTAL ASSETS |
% |
5.92 |
12.76 |
|
ANNUAL GROWTH : EXCELLENT
An annual sales growth is 30.24%. Turnover has increased from THB 126,468,177.75
in 2011 to THB 164,711,044.30 in 2012. While net profit has increased from THB
1,362,507.39 in 2011 to THB 2,046,840.15 in 2012. And total assets has
increased from THB 231,639,818.06 in 2011 to THB 245,358,416.06 in 2012.
PROFITABILITY : ACCEPTABLE
PROFITABILITY RATIO
|
Gross Profit Margin |
21.67 |
Impressive |
Industrial Average |
20.10 |
|
Net Profit Margin |
1.24 |
Deteriorated |
Industrial Average |
5.09 |
|
Return on Assets |
0.83 |
Deteriorated |
Industrial Average |
9.40 |
|
Return on Equity |
2.18 |
Deteriorated |
Industrial Average |
20.66 |
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 21.67%. 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 1.24%.
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, its was lower, the company's figure is 0.83%.
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. When compared with the
industry average, it was lower, the company's figure is 2.18%.
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 |
1.65 |
Impressive |
Industrial Average |
1.49 |
|
Quick Ratio |
0.49 |
|
|
|
|
Cash Conversion Cycle |
259.72 |
|
|
|
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 1.65 times in 2012, decreased from 1.98 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 higher, indicated that company
was an efficient operator in a dominant position within its industry.
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 0.49 times in 2012,
same figure as 0.49 times in 2011, 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 260 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.62 |
Acceptable |
Industrial Average |
0.52 |
|
Debt to Equity Ratio |
1.61 |
Risky |
Industrial Average |
1.15 |
|
Times Interest Earned |
- |
|
Industrial Average |
1.56 |
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.62 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 Uptrend
Times Interest Earned Downtrend
ACTIVITY : SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.57 |
Impressive |
Industrial Average |
0.37 |
|
Total Assets Turnover |
0.67 |
Deteriorated |
Industrial Average |
1.86 |
|
Inventory Conversion Period |
270.31 |
|
|
|
|
Inventory Turnover |
1.35 |
Deteriorated |
Industrial Average |
6.38 |
|
Receivables Conversion Period |
92.85 |
|
|
|
|
Receivables Turnover |
3.93 |
Impressive |
Industrial Average |
3.41 |
|
Payables Conversion Period |
103.44 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.93 and 3.24 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
increased from 2011. 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 has decreased from 445 days at the
end of 2011 to 270 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 0.82 times in year 2011 to 1.35 times
in year 2012.
The company's Total Asset Turnover is calculated as 0.67 times and 0.55
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 Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.91.14 |
|
Euro |
1 |
Rs.77.97 |
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.