MIRA INFORM REPORT
|
Report Date : |
29.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
KLOECKNER PENTAPLAST [THAILAND] LIMITED |
|
|
|
|
Registered Office : |
64/48 Moo 4, Eastern Seaboard Industrial Estate, Pluakdaeng, Rayong 21140 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
21.03.2001 |
|
|
|
|
Com. Reg. No.: |
0105544028493 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and
Distributor of Plastic
Film |
|
|
|
|
No. of Employees : |
180 |
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 : |
Slow but correct |
|
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
KLOECKNER PENTAPLAST [THAILAND] LIMITED
SUMMARY
BUSINESS ADDRESS : 64/48 MOO 4, EASTERN SEABOARD INDUSTRIAL ESTATE,
PLUAKDAENG, RAYONG
21140, THAILAND
TELEPHONE : [66] 38
927-400
FAX : [66] 38
955-462
E-MAIL ADDRESS : kpasia.salesupport@kpfilms.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2001
REGISTRATION NO. : 0105544028493
TAX ID
NO. : 3030250599
CAPITAL REGISTERED : BHT.
780,000,000
CAPITAL PAID-UP : BHT.
780,000,000
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : SEPTEMBER
30
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. MARC PHILIPP
SETZEN, GERMAN
MANAGING DIRECTOR
NO. OF STAFF : 180
LINES OF BUSINESS : PLASTIC FILM MANAFACTURER, EXPORTER
AND DISTRIBUTOR
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH LOW PERFORMANCE
HISTORY
The subject was
established on March
21, 2001 as
a private limited
company under the
name style KLOECKNER PENTAPLAST [THAILAND]
LIMITED, by Dutch
groups, in order
to manufacture hard
plastic film mainly
for exports. Its production
facilities are located
in Rayong province.
It currently employs
approximately 180 staff.
The subject is
a wholly owned
subsidiary of Kloeckner
Pentaplast Nethelands B.V.,
the Dutch company.
It is the only global manufacturer to offer overlay
film.
It was granted
a promotional privilege
from Thailand’s Board
of Investment [BOI]
for the production.
The subject’s registered
address was initially
located at 15th Floor,
Lake Ratchada Office
Complex, 193/59 Ratchadapisek
Rd., Klongtoey, Bangkok 10110.
In 2009, the registered address
was relocated to
64/48 Moo 4, Eastern Seaboard
Industrial Estate, Pluakdaeng,
Rayong 21140, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Jiangbing Wang |
|
Chinese |
50 |
|
Mr. Christian Holtmann |
|
German |
55 |
|
Mr. Markus Karl Josef
Hoelzl |
|
German |
55 |
|
Mr. Yongyuth Taweekulwat |
|
Thai |
75 |
|
Mr. Kamphol Natheethanasarn |
|
Thai |
45 |
|
Mr. Jean Claude Chandonnay |
|
French |
40 |
|
Mr. Marc Philipp Setzen |
|
German |
44 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Marc Philipp Setzen
is the Managing
Director.
He is German
nationality with the
age of 44
years old.
Mr. Kamphol Natheethanasarn is
the Sales &
Marketing Director.
He is Thai
nationality with the
age of 45
years old.
Mr. Nitithep Wongmuneepitak is
the Finance Manager.
He is Thai
nationality.
Mr. Sonthaya Rajniyom is
the Logistics Manager.
He is Thai
nationality.
Mr. Nopporn Tankulsawas is the Factory
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged
in manufacturing and
exporting various kinds of
hard plastic films
including PVC film, PET film, PVC shrinkage and
PVC coated film, used
in foods, consumer
goods, printing and
packaging, electronics industries
and etc.
BRAND NAME
“KP”
PRODUCTIONS
PVC film :
23,000 tons/year
PET film :
15,000 tons/year
PVC coated film : 6,700
tons/year
PVC shrinkage : 7,500
tons/year
PURCHASE
70% of raw
materials mainly resin
and chemical are
purchased from local
suppliers,
the remaining 30%
are imported from
Japan, Taiwan, Singapore,
India and Republic of
China.
MAJOR SUPPLIER
IRPC Public Company
Limited : Thailand
EXPORT
90% of the products
is exported to
over 100 customers
mainly in Asian
such as Japan, Republic of China, Singapore,
Malaysia, Taiwan, India, Laos,
Philippines, Vietnam, Cambodia,
Myanmar, Indonesia, Bangladesh,
Brunei, U.S.A., and etc.
SALES [LOCAL]
10% of the
products is also
sold locally to
manufacturers.
MAJOR CUSTOMERS
Cloeren Incorporated : U.S.A.
Kris Flexipacks Pvt.
Ltd. : India
P.T. Indohoverta : Indonesia
Glaxo Smith Kline
Pty. Ltd. : Australia
PARENT COMPANY
Kloeckner Pentaplast Netherlands
B.V. : Netherlands
It is the leading producer of plastic films for packaging, printing and specialty applications.
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
credit 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
Bangkok Bank Public
Co., Ltd.
[Head Office :
333 Silom Rd.,
Silom, Bangrak, Bangkok]
Kasikornbank Public Co.,
Ltd.
[Head Office :
1 Kasikorn Lane,
Rajburana Rd., Rajburana,
Bangkok]
EMPLOYMENT
The subject employs
approximately 180 staff.
LOCATION DETAILS
The premise is rented for
administrative office, factory
and warehouse at
the heading address.
Premise is located
in industrial area.
Sales Office:
15th Floor, Lake
Ratchada Office Complex,
193/59 Ratchadapisek Rd.,
Klongtoey, Bangkok 10110.
Tel.: [66] 2264-0450,
2264-0105 Fax: [66]
2264-0451
COMMENT
The subject’s operating
performance is a
leading manufacture of
outlay film. Its business has
proven that the subject
is a well-managed, operationally
strong business with a
financial resilient business model.
The subject is well positioned with a
broad product and market portfolio within its
key international markets.
Subject has a
solid business and
maintains its leading
role in the
industry.
FINANCIAL INFORMATION
The capital was
registered at Bht.
2,100,000 divided into
21,000 shares of
Bht. 100 each.
The capital was
increased later as
following:
Bht. 150,000,000 on
August 15, 2001
Bht. 250,000,000 on November 6,
2003
Bht. 430,000,000 on
August 7, 2006
Bht. 630,000,000 on
March 28, 2011
Bht. 780,000,000 on
October 7, 2011
The latest registered
capital was increased
to Bht. 780,000,000 divided
into 7,800,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[as at
March 31, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Kloeckner Pentaplast Netherlands
B.V. Nationality: Dutch Address : Netherlands |
7,799,800 |
100.00 |
|
Kloeckner Pentaplast of
America Nationality: American Address : Virginia,
U.S.A. |
100 |
- |
|
KP Investments Holdings
LLC. Nationality: Thai Address : Virginia,
U.S.A. |
100 |
- |
Total Shareholders : 3
Share Structure
[as at
March 31, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
3 |
7,800,000 |
100.00 |
|
Total |
3 |
7,800,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mr. Boonsri Techavarutama No.
3336
BALANCE SHEET [BAHT]
The latest financial
figures published for
September 30, 2012,
2011 & 2010
were:
ASSETS
[Thousand
Baht]
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash in hand
& at Bank
|
47,562 |
147,149 |
10,394 |
|
Trade Accounts & Other
Receivable |
263,196 |
210,922 |
162,857 |
|
Trade Accounts & Other
Receivable - Person
or Related Company |
65,258 |
120,809 |
22,131 |
|
Receivable from Person or
Related Company |
- |
- |
7,970 |
|
Inventories |
174,165 |
184,472 |
102,435 |
|
Prepayment for Assets
under Construction |
- |
- |
143,729 |
|
Other Current Assets |
- |
- |
19,201 |
|
|
|
|
|
|
Total Current Assets
|
550,181 |
663,352 |
468,717 |
|
|
|
|
|
|
Fixed Assets |
1,234,822 |
1,395,585 |
857,453 |
|
Deferred Income Tax |
24,306 |
34,271 |
35,189 |
|
Deposit |
2,414 |
1,075 |
1,131 |
|
Total Assets |
1,811,723 |
2,094,283 |
1,362,490 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
[Thousand Baht]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institution |
221,745 |
153,934 |
136,500 |
|
Trade Accounts and
Other Payable |
231,815 |
224,453 |
154,594 |
|
Trade Accounts Payable - Related Company |
242,387 |
225,155 |
36,416 |
|
Payable to Person
or Related Company |
- |
- |
115,141 |
|
Current Portion of Other
Long-term Loan |
200,000 |
200,000 |
100,000 |
|
Pre-received Share from Person or Related Company |
200,000 - |
153,300 |
- |
|
Construction Payable |
- |
- |
44,042 |
|
Accrued Expenses |
- |
- |
40,451 |
|
Other Current Liabilities |
- |
- |
28,973 |
|
|
|
|
|
|
Total Current Liabilities |
895,947 |
956,842 |
656,117 |
|
Other Long-term Loan - Net
of Current Portion |
250,000 |
450,000 |
120,000 |
|
Total Liabilities |
1,145,947 |
1,406,842 |
776,117 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid
share capital 7,800,000 shares
in 2012, 6,300,000 share
in 2011; 4,300,000 shares in
2010 |
780,000 |
630,000 |
430,000 |
|
|
|
|
|
|
Capital Paid |
780,000 |
630,000 |
430,000 |
|
Unrealized Gain [ Loss] Surplus on
Assets Appraisal |
- |
62,489 |
71,244 |
|
Retained Earning -
Unappropriated [Deficit] |
[114,224] |
[5,048] |
85,129 |
|
Total Shareholders' Equity [Deficit] |
665,776 |
687,441 |
586,373 |
|
Total Liabilities &
Shareholders' Equity |
1,811,723 |
2,094,283 |
1,362,490 |
PROFIT & LOSS ACCOUNT
[Thousand Baht]
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
1,656,624 |
1,328,522 |
1,408,464 |
|
Other Income |
19,906 |
14,910 |
8,469 |
|
Total Revenues |
1,676,530 |
1,343,432 |
1,416,933 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,481,501 |
1,216,440 |
1,157,216 |
|
Selling Expenses |
159,662 |
115,518 |
112,519 |
|
Administrative Expenses |
98,003 |
82,064 |
76,980 |
|
Total Expenses |
1,739,166 |
1,414,022 |
1,346,715 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Costs & Income Tax |
[62,636] |
[70,590] |
70,218 |
|
Financial Costs |
[36,574] |
[27,424] |
[16,616] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax |
[99,210] |
[98,014] |
53,602 |
|
Income Tax |
[9,966] |
[918] |
[208] |
|
Net Profit / [Loss] |
[109,176] |
[98,932] |
53,394 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.61 |
0.69 |
0.71 |
|
QUICK RATIO |
TIMES |
0.42 |
0.50 |
0.53 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.34 |
0.95 |
1.64 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.91 |
0.63 |
1.03 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
42.91 |
55.35 |
32.31 |
|
INVENTORY TURNOVER |
TIMES |
8.51 |
6.59 |
11.30 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
57.99 |
57.95 |
42.20 |
|
RECEIVABLES TURNOVER |
TIMES |
6.29 |
6.30 |
8.65 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
57.11 |
67.35 |
48.76 |
|
CASH CONVERSION CYCLE |
DAYS |
43.79 |
45.95 |
25.75 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
89.43 |
91.56 |
82.16 |
|
SELLING & ADMINISTRATION |
% |
15.55 |
14.87 |
13.45 |
|
INTEREST |
% |
2.21 |
2.06 |
1.18 |
|
GROSS PROFIT MARGIN |
% |
11.77 |
9.56 |
18.44 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(3.78) |
(5.31) |
4.99 |
|
NET PROFIT MARGIN |
% |
(6.59) |
(7.45) |
3.79 |
|
RETURN ON EQUITY |
% |
(16.40) |
(14.39) |
9.11 |
|
RETURN ON ASSET |
% |
(6.03) |
(4.72) |
3.92 |
|
EARNING PER SHARE |
BAHT |
(14.00) |
(15.70) |
12.42 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.63 |
0.67 |
0.57 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.72 |
2.05 |
1.32 |
|
TIME INTEREST EARNED |
TIMES |
(1.71) |
(2.57) |
4.23 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
24.70 |
(5.68) |
|
|
OPERATING PROFIT |
% |
(11.27) |
(200.53) |
|
|
NET PROFIT |
% |
(10.35) |
(285.29) |
|
|
FIXED ASSETS |
% |
(11.52) |
62.76 |
|
|
TOTAL ASSETS |
% |
(13.49) |
53.71 |
|
ANNUAL GROWTH : RISKY
An annual sales growth is 24.7%. Turnover has increased from THB
1,328,522,000.00 in 2011 to THB 1,656,624,000.00 in 2012. While net profit has
decreased from THB -98,932,000.00 in 2011 to THB -109,176,000.00 in 2012. And
total assets has decreased from THB 2,094,283,000.00 in 2011 to THB
1,811,723,000.00 in 2012.
PROFITABILITY : ACCEPTABLE
PROFITABILITY RATIO
|
Gross Profit Margin |
11.77 |
Impressive |
Industrial Average |
4.66 |
|
Net Profit Margin |
(6.59) |
Deteriorated |
Industrial Average |
2.41 |
|
Return on Assets |
(6.03) |
Deteriorated |
Industrial Average |
4.66 |
|
Return on Equity |
(16.40) |
Deteriorated |
Industrial Average |
11.75 |
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 11.77%. 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 -6.59%.
When compared with the industry average, the ratio of the company was lower.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. When compared with the
industry average, it was lower, the company's figure is -6.03%.
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 -16.4%.
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 |
0.61 |
Risky |
Industrial Average |
0.88 |
|
Quick Ratio |
0.42 |
|
|
|
|
Cash Conversion Cycle |
43.79 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets
are readily available to pay off its short-term liabilities. The company's figure
is 0.61 times in 2012, decreased from 0.69 times, then the company may not be
efficiently using its current assets. When compared with the industry average,
the ratio of the company was lower.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 0.42 times in 2012,
decreased from 0.5 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 44 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.63 |
Impressive |
Industrial Average |
0.66 |
|
Debt to Equity Ratio |
1.72 |
Acceptable |
Industrial Average |
1.92 |
|
Times Interest Earned |
(1.71) |
Risky |
Industrial Average |
- |
Debt to Equity Ratio a measurement of how much suppliers, lenders,
creditors and obligors have committed to the company versus what the shareholders
have committed. A lower the percentage means that the company is using less
leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is -1.72 lower than 1, so the company is not generating
enough cash from EBIT to meet its
interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.63 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 |
1.34 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.91 |
Deteriorated |
Industrial Average |
1.93 |
|
Inventory Conversion Period |
42.91 |
|
|
|
|
Inventory Turnover |
8.51 |
Satisfactory |
Industrial Average |
9.78 |
|
Receivables Conversion Period |
57.99 |
|
|
|
|
Receivables Turnover |
6.29 |
Impressive |
Industrial Average |
3.20 |
|
Payables Conversion Period |
57.11 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.29 and 6.30 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 55 days at the
end of 2011 to 43 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 6.59 times in year 2011 to 8.51 times
in year 2012.
The company's Total Asset Turnover is calculated as 0.91 times and 0.63
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.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.