MIRA INFORM REPORT
|
Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
IMCO
PACK CORPORATION LIMITED |
|
|
|
|
Registered Office : |
588/85 Soi Buan Hua, Sathupradit Road, Bangpongpang, Yannawa, Bangkok 10120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
27.10.1983 |
|
|
|
|
Com. Reg. No.: |
0105526045276 [Former : 4532/2526] |
|
|
|
|
Legal Form : |
Private Limited Company
|
|
|
|
|
Line of Business : |
Manufacturer and contractor of plastic packaging
products |
|
|
|
|
No. of Employees : |
1200 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 enjoyed solid growth from 2000 to 2007 - averaging more than 4% per year - as it recovered from the Asian financial crisis of 1997-98. Thai exports - mostly machinery and electronic components, agricultural commodities, and jewelry - continue to drive the economy, accounting for more than half of GDP. The global financial crisis of 2008-09 severely cut Thailand's exports, with most sectors experiencing double-digit drops. In 2009, the economy contracted 2.3%. In 2010, Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports rebounded from their depressed 2009 level. Steady economic growth at just below 4% during the first three quarters of 2011 was interrupted by historic flooding in October and November in the industrial areas north of Bangkok, crippling the manufacturing sector and leading to a revised growth rate of only 0.1% for the year. The industrial sector is poised to recover from the second quarter of 2012 onward, however, and the government anticipates the economy will probably grow between 5.5 and 6.5% for 2012, while private sector forecasts range between 3.8% and 5.7%.
|
Source : CIA |
Company name
IMCO PACK CORPORATION LIMITED
SUMMARY
BUSINESS
ADDRESS : 588/85 SOI
BUAN HUA, SATHUPRADIT
ROAD,
BANGPONGPANG, YANNAWA,
BANGKOK 10120,
THAILAND
TELEPHONE : [66] 2295-4926-30,
2294-2122-5
FAX :
[66] 2294-3782
E-MAIL
ADDRESS : webmaster@impack.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1983
REGISTRATION
NO. : 0105526045276 [Former : 4532/2526]
TAX
ID NO. : 3101270655
CAPITAL REGISTERED : BHT. 200,000,000
CAPITAL PAID-UP : BHT.
200,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. JENVUTH PHANRATANAMONGKOL, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 1,200
LINES
OF BUSINESS : PLASTIC PACKAGING
PRODUCTS
MANUFACTURER AND
CONTRACTOR
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 October 27,
1983 as a
private limited company
under the name style IMCO PACK
CORPORATION LIMITED by Thai groups, the Phanratanamongkol family,
with the business
objective to manufacture
various kinds of
plastic packaging products.
It currently employs
approximately 1,200 staff.
The
subject achieved the
standard ISO 14001 : 2004 certification
by SGS, on
March 22, 2010.
The
subject’s registered address
is 588/85 Soi Buan Hua, Sathupradit Rd., Bangpongpang,
Yannawa, Bangkok 10120,
and this is the subject’s
current operation address.
THE BOARD OF
DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Vibul Phanratanamongkol |
|
Thai |
72 |
|
Mr. Yudhana Phanratanamongkol |
|
Thai |
57 |
|
Mr. Nattapong Phanratanamongkol |
|
Thai |
55 |
|
Mr. Jenvuth Phanratanamongkol |
|
Thai |
66 |
AUTHORIZED PERSON
Two of the
above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Jenvuth Phanratanamongkol is
the Managing Director.
He is Thai
nationality with the
age of 66 years
old.
Mr. Yudhana Phanratanamongkol is
the Deputy Managing
Director and Factory Manager.
He is Thai
nationality with the
age of 57 years
old.
Mr. Nattapong Phanratanamongkol is
the Deputy Managing
Director and Sales & Marketing Manager.
He is Thai
nationality with the
age of 55 years
old.
Ms. Naruemol Phanratanamongkol is
the Administration Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and servicing various
kinds of plastic packaging
for cosmetic, consumer,
toiletries, pharmaceutical and
food products as
the followings:
- Plastic bottle
: Mono Layer,
Multi Layer
- Closure :
Screw, Flip Top,
Snap On, [Single
or Multi Color]
- Jar, Sprout
and etc.
PURCHASE
Raw materials such
as plastic resin
and chemical are
purchased from suppliers
and agents in
both domestic and
overseas, mainly Germany,
Japan, Taiwan, Republic
of China, Singapore
and Malaysia.
SALES/SERVICES
80% of the
products is sold
locally to manufacturers
and end-users, the
remaining 20% is
exported to U.S.A.,
Colombia, Japan, Singapore
and Europe.
MAJOR
CUSTOMERS
Marietta
LA-PAC Inc. : U.S.A.
Colgate-Palmolive [Thailand]
Co., Ltd. : Thailand
American
Tool & Mold Inc. : U.S.A.
Unilever
Thai Trading Co.,
Ltd. : Thailand
Unilever
Andina Colombia Ltda
Cod. : Colombia
Lion
Corporation [Thailand] Co., Ltd. : 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
or 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
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Kasikornbank
Public Co., Ltd.
EMPLOYMENT
The
subject employs 1,200
staff. [office, sales
staff and factory
workers]
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is located
in commercial/residential area.
Factories
are as the
followings:
·
588/57 Soi
Buan Hua, Sathupradit Rd.,
Bangpongpang, Yannawa, Bangkok
10120.
·
576/84 Soi
Buan Hua, Sathupradit Rd.,
Bangpongpang, Yannawa, Bangkok
10120.
·
576/76 Soi
Buan Hua, Sathupradit Rd.,
Bangpongpang, Yannawa, Bangkok
10120.
·
92/17
Moo 7, Bangna-Trad
Rd., Bangchalong, Bangplee, Samutprakarn
10540.
Tel. [66]
2750-9494, Fax. [66]
2750-9496.
COMMENT
The
subject has been
enjoying an outstanding performance
in the past
several years. Consumption growth of
various kinds of products has currently resulted
to strong sales. Subject’s high
quality standard manufacturing has
convinced various industries
to source the products
from the company.
Its business is
sold and growing
considerably.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 15,000,000 divided
into 15,000 shares
of Bht. 1,000
each.
The
capital was increased
later as following:
Bht. 45,000,000
on August 25,
1988
Bht. 200,000,000
on June 25,
1999
The
latest registered capital was
increased to Bht. 200,000,000 divided
into 200,000 shares
of Bht. 1,000
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Vibul Phanratanamongkol Nationality: Thai Address : 8
Moo 2, Nongbon,
Praves, Bangkok |
99,999 |
50.00 |
|
Mr. Jenvuth
Phanratanamongkol Nationality: Thai Address : 627-9
Sathupradit Rd., Bangpongpang,
Yannawa, Bangkok |
30,000 |
15.00 |
|
Mr. Yudhana Phanratanamongkol Nationality: Thai Address : 58/44
Chuaplerng Rd., Chongnonsi,
Yannawa, Bangkok |
27,000 |
13.50 |
|
Mr. Nattapong Phanratanamongkol Nationality: Thai Address : 588/85
Sathupradit Rd., Bangpongpang,
Yannawa, Bangkok |
27,000 |
13.50 |
|
Mrs. Achara Phanratanamongkol Nationality: Thai Address : 600/77 Sathupradit Rd.,
Bangpongpang,
Yannawa, Bangkok |
10,000 |
5.00 |
|
Ms. Naruemol Phanratanamongkol Nationality: Thai Address : 28/40
Moo 8, Bangmod,
Jomthong,
Bangkok |
6,000 |
3.00 |
|
Mr. Udomsak Phanratanamongkol Nationality: Thai Address : 8
Moo 2, Nongbon,
Praves, Bangkok |
1 |
- |
Total Shareholders : 7
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
200,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
200,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Opas Sroymanee No.
0519
BALANCE SHEET [BAHT]
The latest
financial figures published as
at December 31,
2011, 2010 &
2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash in hand
& at Bank
|
45,979,833.72 |
149,736,147.77 |
60,138,828.54 |
|
Trade Accounts Receivable |
542,316,457.20 |
504,810,423.41 |
397,804,271.14 |
|
Inventories |
178,807,586.41 |
196,432,428.69 |
146,728,806.93 |
|
Other Current Assets
|
38,210,272.17 |
84,610,459.88 |
39,286,410.88 |
|
|
|
|
|
|
Total Current Assets
|
805,314,149.50 |
935,589,459.75 |
643,958,317.49 |
|
Other Long-term Investment |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
Fixed Assets |
937,122,815.51 |
889,052,657.22 |
943,813,539.80 |
|
Other Non-current Assets |
2,409,104.09 |
22,092,972.03 |
2,639,093.14 |
|
Total Assets |
1,764,846,069.10 |
1,866,735,089.00 |
1,610,410,950.43 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institution |
15,763,006.82 |
36,288,313.37 |
30,382,832.60 |
|
Trade Accounts & Other
Payable |
468,990,568.20 |
509,060,859.22 |
327,027,910.57 |
|
Current Portion of Long-term Liabilities |
390,010,000.00 |
449,600,000.00 |
321,061,443.65 |
|
Accrued Income Tax |
29,034,561.68 |
18,153,050.01 |
- |
|
Other Current Liabilities |
13,283,837.95 |
30,494,886.13 |
84,775,118.70 |
|
|
|
|
|
|
Total Current Liabilities |
917,081,974.65 |
1,043,597,108.73 |
763,247,295.52 |
|
Obligation for Employee Benefit |
20,674,687.44 |
- |
- |
|
Total Liabilities |
937,756,662.09 |
1,043,597,108.73 |
763,247,295.52 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 200,000 shares |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
|
|
|
|
|
Capital Paid |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
Retained Earning Appropriated for
Statutory Reserve |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
Unappropriated |
607,089,407.01 |
603,137,980.27 |
627,163,654.91 |
|
Total Shareholders' Equity |
827,089,407.01 |
823,137,980.27 |
847,163,654.91 |
|
Total Liabilities & Shareholders'
Equity |
1,764,846,069.10 |
1,866,735,089.00 |
1,610,410,950.43 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales & Services
|
2,631,930,237.80 |
2,587,775,656.43 |
2,253,464,403.28 |
|
Other Income |
112,811,866.41 |
83,562,406.55 |
89,298,865.15 |
|
Total Revenues |
2,744,742,104.21 |
2,671,338,062.98 |
2,342,763,268.43 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
2,311,891,583.86 |
2,278,889,667.02 |
1,971,194,427.78 |
|
Selling Expenses |
128,808,695.72 |
132,371,108.00 |
131,175,618.84 |
|
Administrative Expenses |
10,621,406.09 |
11,901,961.61 |
14,653,886.98 |
|
Other Expenses |
- |
21,030,666.42 |
6,532,833.42 |
|
|
|
|
|
|
Total Expenses |
2,451,321,685.67 |
2,444,193,403.05 |
2,123,556,767.02 |
|
|
|
|
|
|
Profit before Financial
Cost & Income
Tax |
293,420,418.54 |
227,144,659.93 |
219,206,501.41 |
|
Financial Cost |
[18,453,856.04] |
[9,856,066.93] |
[8,665,738.62] |
|
|
|
|
|
|
Profit before Income
Tax |
274,966,562.50 |
217,288,593.00 |
210,540,762.79 |
|
Income Tax |
[53,996,668.47] |
[41,314,267.64] |
[39,361,401.66] |
|
Net Profit / [Loss] |
220,969,894.03 |
175,974,325.36 |
171,179,361.13 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.88 |
0.90 |
0.84 |
|
QUICK RATIO |
TIMES |
0.64 |
0.63 |
0.60 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.81 |
2.91 |
2.39 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.49 |
1.39 |
1.40 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
28.23 |
31.46 |
27.17 |
|
INVENTORY TURNOVER |
TIMES |
12.93 |
11.60 |
13.43 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
75.21 |
71.20 |
64.43 |
|
RECEIVABLES TURNOVER |
TIMES |
4.85 |
5.13 |
5.66 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
74.04 |
81.53 |
60.55 |
|
CASH CONVERSION CYCLE |
DAYS |
29.40 |
21.13 |
31.05 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
87.84 |
88.06 |
87.47 |
|
SELLING & ADMINISTRATION |
% |
5.30 |
5.58 |
6.47 |
|
INTEREST |
% |
0.70 |
0.38 |
0.38 |
|
GROSS PROFIT MARGIN |
% |
16.45 |
15.17 |
16.49 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
11.15 |
8.78 |
9.73 |
|
NET PROFIT MARGIN |
% |
8.40 |
6.80 |
7.60 |
|
RETURN ON EQUITY |
% |
26.72 |
21.38 |
20.21 |
|
RETURN ON ASSET |
% |
12.52 |
9.43 |
10.63 |
|
EARNING PER SHARE |
BAHT |
1,104.85 |
879.87 |
855.90 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.53 |
0.56 |
0.47 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.13 |
1.27 |
0.90 |
|
TIME INTEREST EARNED |
TIMES |
15.90 |
23.05 |
25.30 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
1.71 |
14.84 |
|
|
OPERATING PROFIT |
% |
29.18 |
3.62 |
|
|
NET PROFIT |
% |
25.57 |
2.80 |
|
|
FIXED ASSETS |
% |
5.41 |
(5.80) |
|
|
TOTAL ASSETS |
% |
(5.46) |
15.92 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 1.71%. Turnover has increased from THB 2,587,775,656.43
in 2010 to THB 2,631,930,237.80 in 2011. While net profit has increased from
THB 175,974,325.36 in 2010 to THB 220,969,894.03 in 2011. And total assets has
decreased from THB 1,866,735,089.00 in 2010 to THB 1,764,846,069.10 in 2011.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
16.45 |
Impressive |
Industrial Average |
14.48 |
|
Net Profit Margin |
8.40 |
Impressive |
Industrial Average |
3.55 |
|
Return on Assets |
12.52 |
Impressive |
Industrial Average |
5.28 |
|
Return on Equity |
26.72 |
Impressive |
Industrial Average |
13.49 |
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. Gross Profit Margin is 16.45%. 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. Net Profit Margin ratio is 8.4%,
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
12.52%, 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 26.72%,
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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
0.88 |
Risky |
Industrial Average |
1.10 |
|
Quick Ratio |
0.64 |
|
|
|
|
Cash Conversion Cycle |
29.40 |
|
|
|
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 0.88 times in 2011, decrease from 0.9 times, then the company may have
problems meeting its short-term obligations. 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 0.64 times in 2011,
increase from 0.63 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 30 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.53 |
Impressive |
Industrial Average |
0.58 |
|
Debt to Equity Ratio |
1.13 |
Acceptable |
Industrial Average |
1.40 |
|
Times Interest Earned |
15.90 |
Impressive |
Industrial Average |
3.52 |
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 15.91 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 0.53 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 Uptrend
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.81 |
Satisfactory |
Industrial Average |
2.82 |
|
Total Assets Turnover |
1.49 |
Satisfactory |
Industrial Average |
1.51 |
|
Inventory Conversion Period |
28.23 |
|
|
|
|
Inventory Turnover |
12.93 |
Impressive |
Industrial Average |
7.07 |
|
Receivables Conversion Period |
75.21 |
|
|
|
|
Receivables Turnover |
4.85 |
Satisfactory |
Industrial Average |
5.04 |
|
Payables Conversion Period |
74.04 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.85 and 5.13 in
2011 and 2010 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 2011
decreased from 2010. 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 31 days at the end of 2010 to
28 days at the end of 2011. This represents a positive trend. And Inventory
turnover has increased from 11.6 times in year 2010 to 12.93 times in year
2011.
The company's Total Asset Turnover is calculated as 1.49 times and 1.39
times in 2011 and 2010 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 Uptrend
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.