MIRA INFORM REPORT
|
Report Date : |
20.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
Monsanto Thailand Limited |
|
|
|
|
Registered Office : |
22nd Floor, Rasa Tower I, Phaholyothin Road, Chatuchak, Bangkok 10900 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.08.2012 |
|
|
|
|
Date of Incorporation : |
23.02.1968 |
|
|
|
|
Com. Reg. No.: |
0105511001065 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
Importing, Researching and Developing of Corn Seeds. |
|
|
|
|
No. of Employees : |
300 |
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
MONSANTO THAILAND
LIMITED
SUMMARY
BUSINESS
ADDRESS : 22nd FLOOR,
RASA TOWER I,
555
PHAHOLYOTHIN ROAD,
CHATUCHAK, BANGKOK
10900
THAILAND
TELEPHONE : [66] 2793-4888
FAX :
[66] 2937-0404
E-MAIL : wwannag@monsanto.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1968
REGISTRATION
NO. : 0105511001065
TAX
ID NO. : 3101039955
CAPITAL REGISTERED : BHT. 326,514,500
CAPITAL PAID-UP : BHT.
326,514,500
SHAREHOLDER’S PROPORTION : AMERICAN :
100%
FISCAL YEAR CLOSING DATE : AUGUST 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. CRAIG PHILLIP
DUNN, AUSTRALIAN
CHIEF EXECUTIVE OFFICER
NO.
OF STAFF : 300
LINES
OF BUSINESS : CORN
SEED
RESEARCH &
DEVELOPMENT
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 February 23,
1968 as a
private limited company under
the name style MONSANTO THAILAND LIMITED by American groups,
with the initial
business objective to be engaged
in manufacturing of
agricultural chemicals to
both local and
overseas markets. The subject
received the promotional
privilege from the
Board of Investment.
In
2010, its business
lines had been
diversified to import
corn seed for
research and development.
It currently employs
approximately 300 staff.
The
subject is a
wholly owned subsidiary
of Seminis Vegetable
Seeds Inc., in
U.S.A., a member
of Monsanto group,
worldwide.
The subject’s registered address is 22nd
Flr., Rasa Tower I, 555 Phaholyothin
Rd., Chatuchak, Bangkok
10900, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sumpun Sittipanuwong |
|
Thai |
53 |
|
Ms. Lada Boonjongkiat |
|
Thai |
44 |
|
Ms. Chatchaya Suthonrak |
|
Thai |
46 |
|
Mr. Craig Phillip Dunn |
|
Australian |
46 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Craig Phillip Dunn
is the Chief
Executive Officer.
He is Australian
nationality with the
age of 46
years old.
Ms. Lada Boonjongkiat is
the Managing Director.
She is Thai
nationality with the
age of 44
years old.
Mr. Sumpun Sittipanuwong is
the Scientific Affairs
Manager.
He is Thai
nationality with the age
of 53 years
old.
Mr. Sakorn Tripetchpaisal is
the Business Manager.
He is Thai
nationality.
Mr. Kongthan Charnchay is
the Public Relation
Manager.
He is Thai
nationality.
Ms. Nareewan Photikam is
the Sales Manager.
She is Thai nationality.
Dr. Boonyanak Nakwong is
the Director of
Regulatory Affairs Department.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in importing,
researching and developing
of corn seeds
under the brand
“DEKALB”, with various
series, “DEKALB BIG 919”,
“DEKALB 9901”, “DEKALB
979” and “DEKALB
9955”.
PURCHASE
Most of corn
seeds for research
and development are
imported from U.S.A.,
the remaining is
purchased locally.
MAJOR SUPPLIER
Seminis Vegetable Seeds
Inc. : U.S.A.
SALES [LOCAL]
The products are
sold locally to
dealers nationwide.
EXPORT
The products are
exported to Vietnam,
Indonesia and Laos.
MAJOR CUSTOMER
D.A.T.T. 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
according for the
past two years.
CREDIT
Sales 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
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public Co., Ltd.
EMPLOYMENT
The subject
employs approximately 300
staff.
LOCATION DETAILS
The
premise is rented
for operating administrative office
at the heading
address. Premise is
located in commercial/residential area.
Corn seed
factories:
-
229 Moo
18, Mitraphap Rd.,
T. Pakchong, A.
Pachong, Nakornratchasima
-
56 Moo
6, Wangthong-Kaosai Rd.,
T. Dindaeng, A.
Wangthong, Pisanuloke
Branch
and warehouse:
-
622/1 Moo 1, Nityo
Rd., T. Pangkhon,
A. Pangkhon, Sakolnakorn
-
99 Moo
2, T.
Maekorn, A. Muang,
Chiangrai
-
341 Moo
4, T.
Banped, A. Muang,
Khonkaen
-
134 Moo 4, T.
Thungfair, A. Muang,
Lampang 52000
COMMENT
The only business Monsanto Thailand has involved in is agriculture. This is why
Monsanto invests both time and money in research to help create the
best seed possible for farmers. Whether it’s
through breeding or
biotechnology, Monsanto is committed to research in various agricultural
crops.
The subject
is now engaged in
importing, researching and
developing of corn
seeds. Subject’s business has
grown strongly in the past years,
as well as continue
expanding steadily.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 100,000 divided
into 1,000 shares
of Bht. 100 each.
The
capital was increased
later as following:
Bht. 18,000,000
on December 2,
1985
Bht. 168,514,500
on September 30,
1997
Bht. 326,514,500
on October 12,
2012
The
latest registered capital
was increased to
Bht. 326,514,500 divided into
3,265,145 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
December 29, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Seminis Vegetable Seeds
Inc. Nationality: American Address : 800
North Lindbergh Boulevard,
Saint Louis, Missouri, U.S.A.
|
3,265,140 |
100.00 |
|
Olympia Corp. Nationality: American Address : 800
North Lindbergh Boulevard,
Saint Louis,
Missouri, U.S.A. |
3 |
- |
|
Monsanto Caribe, LLC. Nationality: American Address : 800
North Lindbergh Boulevard,
Saint Louis,
Missouri, U.S.A. |
1 |
- |
|
Monsanto Inter-America Co. Nationality: American Address : 800
North Lindbergh Boulevard,
Saint Louis, Missouri, U.S.A.
|
1 |
- |
Total Shareholders : 4
Share Structure [as
at December 29,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - American |
4 |
3,265,145 |
100.00 |
|
Total |
4 |
3,265,145 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Vimolwan Boonyasathien No. 4067
BALANCE SHEET [BAHT]
The
latest financial figures
published for August
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
23,777,830 |
172,436,384 |
89,102,112 |
|
Trade Accounts & Other
Receivable |
881,994,440 |
610,098,306 |
234,509,057 |
|
Trade Accounts Receivable - Related Company
|
- |
- |
89,241,714 |
|
Account Receivable-Related Company |
- |
- |
57,309,248 |
|
Inventories |
213,824,282 |
324,746,868 |
587,678,904 |
|
Deferred Income Tax |
- |
- |
11,642,142 |
|
Other Current Assets
|
10,299,689 |
5,474,935 |
6,669,065 |
|
|
|
|
|
|
Total Current Assets
|
1,129,896,241 |
1,112,756,493 |
1,076,152,242 |
|
Fixed Assets |
480,913,075 |
456,923,181 |
454,961,992 |
|
Other Non-current Assets |
2,152,126 |
3,310,805 |
3,856,976 |
|
Total Assets |
1,612,961,442 |
1,572,990,479 |
1,534,971,210 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts & Other Payable |
261,044,025 |
398,418,439 |
33,087,172 |
|
Trade Accounts Payable - Related
Company |
- |
- |
45,191,470 |
|
Short-term Loan from
Related company |
172,614,139 |
1,053,827,203 |
1,050,720,986 |
|
Current Portion of Long-term Loan |
599,791,429 |
- |
- |
|
Current Portion of Financial Leas Contract Liabilities |
14,168,273 |
15,861,240 |
16,148,567 |
|
Accrued Income Tax |
57,709,392 |
- |
- |
|
Accounts Payable-Related
Company |
- |
- |
58,504,821 |
|
Accrued Discount |
- |
- |
58,665,579 |
|
Accrued Bonus |
- |
- |
15,702,008 |
|
Other Current Liabilities |
25,973,543 |
44,205,958 |
47,824,441 |
|
|
|
|
|
|
Total Current Liabilities |
1,131,300,801 |
1,512,312,840 |
1,325,845,044 |
|
Long-term Loan from Related Company |
246,000,000 |
- |
- |
|
Financial Lease Contract
Liabilities |
6,360,592 |
20,064,664 |
30,880,811 |
|
Employees Benefits Obligation |
41,503,710 |
21,668,875 |
27,355,242 |
|
Total Liabilities |
1,425,165,103 |
1,554,046,379 |
1,384,081,097 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 1,685,145 shares |
168,514,500 |
168,514,500 |
168,514,500 |
|
|
|
|
|
|
Capital Paid |
168,514,500 |
168,514,500 |
168,514,500 |
|
Capital Surplus on
Assets Appraisal |
[59,298,166] |
[59,298,166] |
[59,298,166] |
|
Retained Earning Appropriated for Statutory Reserve |
16,851,450 |
16,851,450 |
16,851,450 |
|
Unappropriated |
61,728,555 |
[107,123,684] |
24,822,329 |
|
Total Shareholders' Equity |
187,796,339 |
18,944,100 |
150,890,113 |
|
Total Liabilities &
Shareholders' Equity |
1,612,961,442 |
1,572,990,479 |
1,534,971,210 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
1,797,815,873 |
1,536,869,007 |
1,264,101,520 |
|
Gain on Exchange Rate |
12,508,364 |
- |
5,462,659 |
|
Other Income |
19,133,727 |
10,512,219 |
12,033,130 |
|
Total Revenues |
1,829,457,964 |
1,547,381,226 |
1,281,597,309 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,261,534,232 |
1,230,412,897 |
891,401,239 |
|
Selling Expenses |
78,193,015 |
56,180,279 |
80,427,672 |
|
Administrative Expenses |
214,925,775 |
335,836,158 |
372,428,271 |
|
Loss on Exchange Rate |
- |
13,841,543 |
- |
|
Total Expenses |
1,554,653,022 |
1,636,270,877 |
1,344,257,182 |
|
|
|
|
|
|
Profit /[Loss] before Financial
Cost & Income Tax |
274,804,942 |
[88,889,651] |
[62,659,873] |
|
Financial Cost |
[37,278,275] |
[31,252,500] |
[21,078,799] |
|
Profit /[Loss] before Income
Tax |
237,526,667 |
[120,142,151] |
[83,738,672] |
|
Income Tax |
[68,674,428] |
[11,803,862] |
[13,064,763] |
|
|
|
|
|
|
Net Profit / [Loss] |
168,852,239 |
[131,946,013] |
[96,803,435] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.00 |
0.74 |
0.81 |
|
QUICK RATIO |
TIMES |
0.80 |
0.52 |
0.36 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.74 |
3.36 |
2.78 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.11 |
0.98 |
0.82 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
61.87 |
96.34 |
240.64 |
|
INVENTORY TURNOVER |
TIMES |
5.90 |
3.79 |
1.52 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
179.07 |
144.90 |
67.71 |
|
RECEIVABLES TURNOVER |
TIMES |
2.04 |
2.52 |
5.39 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
75.53 |
118.19 |
13.55 |
|
CASH CONVERSION CYCLE |
DAYS |
165.40 |
123.04 |
294.80 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
70.17 |
80.06 |
70.52 |
|
SELLING & ADMINISTRATION |
% |
16.30 |
25.51 |
35.82 |
|
INTEREST |
% |
2.07 |
2.03 |
1.67 |
|
GROSS PROFIT MARGIN |
% |
31.59 |
20.62 |
30.87 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
15.29 |
(5.78) |
(4.96) |
|
NET PROFIT MARGIN |
% |
9.39 |
(8.59) |
(7.66) |
|
RETURN ON EQUITY |
% |
89.91 |
(696.50) |
(64.15) |
|
RETURN ON ASSET |
% |
10.47 |
(8.39) |
(6.31) |
|
EARNING PER SHARE |
BAHT |
100.20 |
(78.30) |
(57.45) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.88 |
0.99 |
0.90 |
|
DEBT TO EQUITY RATIO |
TIMES |
7.59 |
82.03 |
9.17 |
|
TIME INTEREST EARNED |
TIMES |
7.37 |
(2.84) |
(2.97) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
16.98 |
21.58 |
|
|
OPERATING PROFIT |
% |
(409.15) |
41.86 |
|
|
NET PROFIT |
% |
227.97 |
(36.30) |
|
|
FIXED ASSETS |
% |
5.25 |
0.43 |
|
|
TOTAL ASSETS |
% |
2.54 |
2.48 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 16.98%. Turnover has increased from THB 1,536,869,007.00
in 2011 to THB 1,797,815,873.00 in 2012. While net profit has increased from
THB -131,946,013.00 in 2011 to THB 168,852,239.00 in 2012. And total assets has
increased from THB 1,572,990,479.00 in 2011 to THB 1,612,961,442.00 in 2012.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
31.59 |
Impressive |
Industrial
Average |
9.71 |
|
Net Profit Margin |
9.39 |
Impressive |
Industrial
Average |
3.91 |
|
Return on Assets |
10.47 |
Satisfactory |
Industrial Average |
13.13 |
|
Return on Equity |
89.91 |
Impressive |
Industrial
Average |
41.56 |
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 31.59%. 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 9.39%, 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 10.47%.
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 89.91%, 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 : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.00 |
Risky |
Industrial
Average |
1.28 |
|
Quick Ratio |
0.80 |
|
|
|
|
Cash Conversion Cycle |
165.40 |
|
|
|
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 1 time in 2012, increased from 0.74 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 0.8 times in 2012,
increased from 0.52 times, by excluding inventory, the company may have
problems meeting current liabilities.
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 166 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.88 |
Acceptable |
Industrial
Average |
0.68 |
|
Debt to Equity Ratio |
7.59 |
Risky |
Industrial
Average |
2.17 |
|
Times Interest Earned |
7.37 |
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 7.38 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 0.88 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 |
3.74 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.11 |
Deteriorated |
Industrial
Average |
3.36 |
|
Inventory Conversion Period |
61.87 |
|
|
|
|
Inventory Turnover |
5.90 |
Impressive |
Industrial
Average |
5.74 |
|
Receivables Conversion Period |
179.07 |
|
|
|
|
Receivables Turnover |
2.04 |
Deteriorated |
Industrial
Average |
4.90 |
|
Payables Conversion Period |
75.53 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.04 and 2.52 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 62 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 3.79 times in year 2011 to 5.9 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.11 times and 0.98
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 Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.89 |
|
|
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.