MIRA INFORM REPORT
|
Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARKITEKTURA CO.,
LTD. |
|
|
|
|
Registered Office : |
929 Onnuch Road, Prawate, Bangkok 10250, Thailand |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
08.04.1999 |
|
|
|
|
Com. Reg. No.: |
0105542025641 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer And
Distributor Home Furniture Products |
|
|
|
|
No. of Employees : |
20 |
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 : |
Satisfactory |
|
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
ARKITEKTURA
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 125/1
SOI THONGLOR 10,
SUKHUMVIT 55 ROAD,
KLONGTONNUA, WATTANA,
BANGKOK 10110
TELEPHONE : [66] 2392-5460-2
FAX :
[66] 2392-5463
E-MAIL
ADDRESS : info@arkitektura.co.th
REGISTRATION
ADDRESS : 929
ONNUCH ROAD, PRAWATE,
BANGKOK 10250,
THAILAND
ESTABLISHED
: 1999
REGISTRATION
NO. : 0105542025641
TAX
ID NO. : 3030017987
CAPITAL REGISTERED : BHT. 5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SOMCHAI AKARAWITTAYAPOOM, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 20
LINES
OF BUSINESS : HOME
FURNITURE PRODUCTS
IMPORTER AND
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 April 8, 1999
as a private
limited company under the
originally registered name “Proform Co.,
Ltd.” by Thai group.
On November 26,
1999, its registered
name was changed
to ARKITEKTURA CO.,
LTD. Its business
is to import
and distribute various
kinds of home
furniture products to
domestic market. It
currently employs 20
staff.
The
subject’s registered address
is 929 Onnuch
Rd., Prawate, Bangkok
10250, while the
current operation address
is 125/1 Soi Thonglor
10, Sukhumvit 55
Rd., Klongtonnua, Wattana,
Bangkok 10110.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somchai Akarawittayapoom |
[x] |
Thai |
44 |
|
Ms. Naruesalai Mahathitirat |
[x] |
Thai |
44 |
|
Ms. Pimthiporn Phumpuwanan |
[-] |
Thai |
35 |
AUTHORIZED PERSON
Both of the
mentioned directors [x]
can jointly sign
on behalf of
the subject with
company’s affixed. In
case of legal
suits, the mentioned
director [-] can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Somchai Akarawittayapoom is
the Managing Director.
He is Thai
nationality with the
age of 44
years old.
BUSINESS OPERATIONS
The subject
is engaged in
importing and distributing
various kinds of
home furniture products
and accessories. The
products and brands
are as follows:
Product Brand
Bath “AXOR-HANSGROHE”, “DORNBRACHT”,
“CATALANO”, “TOTO”
Bed “CALVIN KLEIN
HOME”, “HUGO BOSS
HOME”,
“LAUREN RALPH
LAUREN HOME”,
“SANDERSON”
Furniture “B&B ITALIA”,
“CARACOLE”, “JESSE”,
“LAUREN RALPH LAUREN HOME”
Kitchen “ARCLINEA”, “GAGGENNAU”,
“POGGENPOHL”,
“SUB-ZERO &
WOLF”
Lighting “LAUREN RALPH
LAUREN HOME”,
“VISUAL COMFORT”
Accessories “LAUREN RALPH
LAUREN HOME”
The subject
also provides design
and interior decoration
service for residential and commercial
building such as
house, condominium, office,
hotel and resort.
PURCHASE
90%
of the products is
imported from Italy, the
remaining 10% is purchased
from local supplier.
SALES
100% of the
products is sold
and serviced locally
to traders and
end-users.
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
according for the
past two years.
CREDIT
Sales / services are by cash
or on the
credit term of
30 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
T/T.
BANKING
Kasikornbak
Public Co., Ltd.
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
approximately 20 staff.
LOCATION
DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
Branch
office/Showroom :
- Unit
3/28, 3rd Floor,
Siam Paragon Shopping
Center, 991/1 Rama
1 Rd., Pathumwan, Bangkok
10330.
Tel. :
[66] 2129-4685-6, Fax. : [66]
2129-4685.
- Room 107/1, 1st Floor,
Building B, Crystal Design
Center [CDC], 1412
Soi Ladprao 87
[Chantrasook],
Klongchan, Bangkapi, Bangkok
10240.
Tel.: [66]
2102-2198-9, Fax. : [66] 2102-2198.
COMMENT
The
subject’s business performance
in 2011 was
considered good with
an increase in
revenues comparing to
the previous year.
Generally, its business
is promising as
there is still
demand from domestic
consumptions.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each with fully
paid.
The
capital was increased
later as follows:
Bht. 2,000,000
on June 17,
2003
Bht. 5,000,000
on April 4,
2011
The
latest registered capital
was increased to
Bht. 5,000,000 divided
into 50,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Somchai Akarawittayapoom Nationality: Thai Address : 929
Onnuch Rd., Prawate,
Bangkok |
20,598 |
41.20 |
|
Ms. Naruesalai Mahathitirat Nationality: Thai Address : 49
Soi Areesamphan 3,
Phaholyothin Rd.,
Samsennai, Phayathai, Bangkok
|
12,745 |
25.49 |
|
Ms. Pattamon Mahattanakul Nationality: Thai Address : 10/4
Moo 1, Soi
Sukhumvit 77,
Sukhumvit Rd., Prawate, Bangkok |
8,251 |
16.50 |
|
Ms. Naiyanut Mahathitirat Nationality: Thai Address : 49
Soi Areesamphan 3,
Phaholyothin Rd., Samsennai, Phayathai,
Bangkok |
3,628 |
7.255 |
|
Ms. Napasiri Mahahitirat Nationality: Thai Address : 130/81
Moo 7, Suanyai,
Muang,
Nonthaburi |
3,628 |
7.255 |
|
Ms. Sawapat Mahattanakul Nationality: Thai Address : 10/4
Moo 1, Soi
Sukhumvit 77,
Sukhumvit Rd., Prawate,
Bangkok |
1,000 |
2.00 |
|
Mr. Sanguanchai
Akarawittayapoom Nationality: Thai Address : 929
Onnuch Rd., Prawate,
Bangkok |
150 |
0.30 |
Total Shareholders : 7
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
50,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
50,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Suphap Akarapathumwong No.
6101
BALANCE SHEET [BAHT}
The latest financial figures published
as at December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalents |
13,929,607.57 |
21,436,762.64 |
22,349,127.64 |
|
Short-term Investment |
8,988,000.00 |
8,988,000.00 |
8,988,000.00 |
|
Trade Accounts and
Other Receivable |
20,683,531.39 |
7,956,839.44 |
2,028,406.63 |
|
Inventories |
51,020,023.00 |
38,361,726.80 |
- |
|
Deposit Goods |
- |
- |
6,356,115.06 |
|
Lending to Person or
Related Company |
- |
- |
8,140,146.13 |
|
Other Current Assets
|
1,575,818.28 |
1,939,930.55 |
1,253,638.31 |
|
|
|
|
|
|
Total Current Assets
|
96,196,980.24 |
78,683,259.43 |
49,115,433.77 |
|
Cash at Bank pledged
as a Collateral |
4,416,870.54 |
4,022,100.00 |
- |
|
Investment in Associated |
13,870,000.00 |
13,870,000.00 |
13,870,000.00 |
|
Other Long-term Investment |
9,315,000.00 |
10,021,828.82 |
- |
|
Fixed Assets |
4,915,076.91 |
3,667,842.88 |
767,489.32 |
|
Intangible Assets |
29,473,842.74 |
34,442.74 |
45,042.74 |
|
Other Non-current Assets |
11,794,860.92 |
12,424,075.87 |
10,857,148.99 |
|
Total Assets |
169,982,631.35 |
122,723,549.74 |
74,655,114.82 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Trade Accounts and
Other Payable |
25,228,308.69 |
38,412,401.16 |
5,074,401.87 |
|
Short-term Loan |
- |
1,859,546.26 |
- |
|
Current Portion of
Long-term Loans |
3,858,000.00 |
- |
- |
|
Short-term Loan of Financial
Lease Contract Payable |
490,140.00 |
258,756.00 |
- |
|
Accrued Income Tax |
1,225,765.89 |
1,710,716.67 |
- |
|
Other Current Liabilities |
578,002.50 |
258,011.34 |
22,503,758.45 |
|
|
|
|
|
|
Total Current Liabilities |
31,380,217.08 |
42,499,431.43 |
27,578,160.32 |
|
Long-term Loan |
20,437,603.86 |
- |
- |
|
Financial Lease Contract
Payable, Net |
1,158,786.44 |
733,142.00 |
- |
|
Employee Benefits Obligation |
632,337.00 |
- |
- |
|
Deposit Payable |
95,091,624.53 |
65,529,143.71 |
38,572,593.98 |
|
Total Liabilities |
148,700,568.91 |
108,761,717.14 |
66,150,754.30 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 50,000 shares
in 2011; 20,000
shares in 2010
& 2009 respectively |
5,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
|
|
|
|
|
Capital Paid |
5,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
Retained Earning Unappropriated |
16,282,062.44 |
11,961,832.60 |
6,504,360.52 |
|
Total Shareholders' Equity |
21,282,062.44 |
13,961,832.60 |
8,504,360.52 |
|
Total Liabilities &
Shareholders' Equity |
169,982,631.35 |
122,723,549.74 |
74,655,114.82 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
200,373,222.44 |
142,297,338.97 |
113,811,988.68 |
|
Other Income |
1,535,518.22 |
2,052,645.58 |
3,807,391.26 |
|
Total Revenues |
201,908,740.66 |
144,349,984.55 |
117,619,379.94 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
135,006,851.34 |
100,991,043.50 |
86,627,293.67 |
|
Selling Expenses |
16,871,906.81 |
11,339,308.82 |
15,799,887.14 |
|
Administrative Expenses |
41,558,348.47 |
23,752,416.65 |
9,982,888.30 |
|
Total Expenses |
193,437,106.62 |
136,082,768.97 |
112,410,069.11 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
8,471,634.04 |
8,267,215.58 |
5,209,310.83 |
|
Financial Costs |
[1,635,423.83] |
[1,915.64] |
[14,212.54] |
|
Profit / [Loss] before Income
Tax |
6,836,210.21 |
8,265,299.94 |
5,195,098.29 |
|
Income Tax |
[2,515,980.37] |
[2,807,827.86] |
[2,023,358.51] |
|
|
|
|
|
|
Net Profit / [Loss] |
4,320,229.84 |
5,457,472.08 |
3,171,739.78 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.07 |
1.85 |
1.78 |
|
QUICK RATIO |
TIMES |
1.39 |
0.90 |
1.21 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
40.77 |
38.80 |
148.29 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.18 |
1.16 |
1.52 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
137.94 |
138.65 |
- |
|
INVENTORY TURNOVER |
TIMES |
2.65 |
2.63 |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
37.68 |
20.41 |
6.51 |
|
RECEIVABLES TURNOVER |
TIMES |
9.69 |
17.88 |
56.11 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
68.21 |
138.83 |
21.38 |
|
CASH CONVERSION CYCLE |
DAYS |
107.41 |
20.23 |
(14.88) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
67.38 |
70.97 |
76.11 |
|
SELLING & ADMINISTRATION |
% |
29.16 |
24.66 |
22.65 |
|
INTEREST |
% |
0.82 |
0.00 |
0.01 |
|
GROSS PROFIT MARGIN |
% |
33.39 |
30.47 |
27.23 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.23 |
5.81 |
4.58 |
|
NET PROFIT MARGIN |
% |
2.16 |
3.84 |
2.79 |
|
RETURN ON EQUITY |
% |
20.30 |
39.09 |
37.30 |
|
RETURN ON ASSET |
% |
2.54 |
4.45 |
4.25 |
|
EARNING PER SHARE |
BAHT |
86.40 |
272.87 |
158.59 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.87 |
0.89 |
0.89 |
|
DEBT TO EQUITY RATIO |
TIMES |
6.99 |
7.79 |
7.78 |
|
TIME INTEREST EARNED |
TIMES |
5.18 |
4,315.64 |
366.53 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
40.81 |
25.03 |
|
|
OPERATING PROFIT |
% |
2.47 |
58.70 |
|
|
NET PROFIT |
% |
(20.84) |
72.07 |
|
|
FIXED ASSETS |
% |
34.00 |
377.90 |
|
|
TOTAL ASSETS |
% |
38.51 |
64.39 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 40.81%. Turnover has increased from THB
142,297,338.97 in 2010 to THB 200,373,222.44 in 2011. While net profit has
decreased from THB 5,457,472.08 in 2010 to THB 4,320,229.84 in 2011. And total
assets has increased from THB 122,723,549.74 in 2010 to THB 169,982,631.35 in
2011.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
33.39 |
Impressive |
Industrial
Average |
- |
|
Net Profit Margin |
2.16 |
Impressive |
Industrial
Average |
2.14 |
|
Return on Assets |
2.54 |
Satisfactory |
Industrial
Average |
2.95 |
|
Return on Equity |
20.30 |
Satisfactory |
Industrial
Average |
24.52 |
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 33.39%. 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 2.16%, 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. When compared with the
industry average, it was lower, the company's figure is 2.54%.
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 20.3%.
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 |
3.07 |
Satisfactory |
Industrial
Average |
3.07 |
|
Quick Ratio |
1.39 |
|
|
|
|
Cash Conversion Cycle |
107.41 |
|
|
|
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 3.07 times in 2011, increased from 1.85 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 equivalent.
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 1.39 times in 2011,
increased from 0.9 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 108 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.87 |
Acceptable |
Industrial
Average |
0.87 |
|
Debt to Equity Ratio |
6.99 |
Acceptable |
Industrial
Average |
6.99 |
|
Times Interest Earned |
5.18 |
Impressive |
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 5.19 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 0.87 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
40.77 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.18 |
Satisfactory |
Industrial
Average |
1.38 |
|
Inventory Conversion Period |
137.94 |
|
|
|
|
Inventory Turnover |
2.65 |
Satisfactory |
Industrial
Average |
3.02 |
|
Receivables Conversion Period |
37.68 |
|
|
|
|
Receivables Turnover |
9.69 |
Impressive |
Industrial
Average |
1.57 |
|
Payables Conversion Period |
68.21 |
|
|
|
The company's Account Receivable Ratio is calculated as 9.69 and 17.88 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 139 days at the
end of 2010 to 138 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 2.63 times in year 2010 to 2.65 times
in year 2011.
The company's Total Asset Turnover is calculated as 1.18 times and 1.16
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 Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.83.80 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.