|
Report Date : |
06.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. CHAROEN
POKPHAND |
|
|
|
|
Registered Office : |
Jalan Ancol VIII No. 1, Ancol Barat, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
07.01.1972 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-24242 |
|
|
|
|
Legal Form : |
Public Listed Company |
|
|
|
|
Line of Business : |
· Animal Feed and Shrimp Feed Milling · Plastic Bag Manufacturing · Poultry Equipment Manufacturing · Investment Holding |
|
|
|
|
No. of Employees : |
Not Available |
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) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source : CIA |
Name of Company :
P.T. CHAROEN
POKPHAND INDONESIA TBK
A d d r e s s :
Head Office &
Jakarta Factory
Jalan Ancol VIII No. 1, Ancol Barat
Jakarta Utara 14430
Indonesia
P.O. Box -
83 JKT
Phones - (021) 6912501 (hunting), 6902787, 6902538,
(021) 6902567, 69005640
Fax. -
(021) 6917325
Cable -
POKPHAND JAKARTA
Telex -
42659 POKPHAND IA
Website - http://www.prokar.com
E-Mail - charoen@idola.net.id
Jalan Raya
Desa Beringin
Bendo,
Phones -
(031) 782183, 782509
Jalan Tanjung Morawa Km. 8.5
Medan, North Sumatra
Phones -
(061) 751678
Tangerang Factory
Jalan Raya Serang
Km. 30
Desa Cengkudu
Balaraja,
Tangerang
Warehouse
Jalan Ir. Sutami Km. 8.5 No. 15
Tanjung Karang Timur
Bandar Lampung
Lampung
Phones - (0721) 350041-44
Fax. -
(0721) 350045
Date of
Incorporation :
a. 7 January 1972
as P.T. CHAROEN POKPHAND INDONESIA ANIMAL FEED MILL CO., LTD.
b. 8 June 1990 as
P.T. CHAROEN POKPHAND INDONESIA
c. February 1997
as P.T. CHAROEN POKPHAND INDONESIA Tbk.
Legal Form :
P.T. Tbk.
(Perseroan Terbatas Terbuka) or Public Listed Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. YA-5/197/21
Dated 8 June 1973
b. No.
C-24711.HT.01.04.TH.2000
Dated 29 November 2000
c. No.
AHU-97521.AH.01.02.TH.2008
Dated 18 December 2008
d. No.
AHU-61146.AH.01.02.TH.2010
Dated 31 December 2010
d. No.
AHU-AH.01.10-24242
Dated 17 June 2013
Company Status :
Foreign Investment Company (PMA)
Permit by the Government Department :
a. The President of the Republic of Indonesia
No. B-132/Pres/II/1971
Dated 5 November 1971
b. The Capital Investment Coordinating Board
- No. 383/III/PMA/1991
Dated 17 June 1991
- No. 299/II/PMA/2000
Dated 1 November 2000
- No. 123/II/PMA/2001
Dated 30 April 2001
Related/Affiliated Companies :
A Member of the CHAROEN POKPHAND Group
Capital Structure :
Authorized
Capital - Rp.
400,000,000,000.-
Issued Capital -
Rp. 163,980,000,000.-
Paid up Capital -
Rp. 163,980,000,000.-
Shareholders (as of December 31, 2011) :
a. P.T. CENTRAL AGROMINA - Rp. 91,064,000,000.-
(55.53%)
b. PUBLICS (ownership below 5% each) -
Rp. 72,916,000,000.- (44.47%)
Lines of Business
:
a. Animal Feed and Shrimp Feed Milling
b. Plastic Bag Manufacturing
c. Poultry Equipment Manufacturing
d. Investment Holding
Production
Capacity :
Initial Plant
a. Animal Feeds - 1,090,000 tons p.a.
b. Shrimp Feeds - 84,000 tons p.a.
c. Plastic Bags
- Outer Bags -
12,500,000 sheet p.a.
- Inner Bags -
12,500,000 sheet p.a.
d. Hanging Feeder Tubes - 900,000 units p.a.
e. Chicks Waters - 750,000 units p.a.
f. Egg trays - 600,000 units p.a.
g. Warehouse *) - 100,000 tons
Expansion (1998)
a. Chick Meet Raw -
4,500 tons p.a.
b. Chick Meet Frozen - 14,400 tons p.a.
c. Chick Meet Processed - 8,544 tons
p.a.
Expansion Plant
(2000)
Meet processed - 1,500 tons p.a.
Expansion Plant
(2001)
Fish Feeds - 108,000
tons p.a.
Total Investment :
Initial Unit
a. Owned Capital
- Rp 60.0 billion
b. Reinvested
Profit - Rp 1.7 billion
c. Loan
Capital - Rp 100.8 billion
d. Total
Investment - Rp 162.5 billion
Expansion Unit
(1998)
a. Equity
Capital - Rp 48.6 billion
b. Loan
Capital - Rp 179.5 billion
c. Total
Investment - Rp 228.1 billion
Expansion Unit
(2000)
a. Equity
Capital - Rp --- billion
b. Loan
Capital - Rp 6.2 billion
c. Total
Investment - Rp 6.2 billion
Expansion Unit (2001)
a. Equity
Capital - Rp --- billion
b. Loan
Capital - Rp 2.3 billion
c. Total
Investment - Rp 2.3 billion
Started Operation
:
1972
Brand Name :
CHAROEN POKPHAND
Technical
Assistance :
The CHAROEN POKPHAND Group
Number of Employee
:
4,391 persons (as of Dec. 31, 2012)
Marketing Area :
Domestic
- 100%
Main Customers :
a. P.T. SURYA UNGGAS MANDIRI
b. P.T. SUMBER
TERNAK PRATAMA
c. P.T. MULTI SARANA
PAKANINDO
d. P.T. TIARA
TUNGGAL MANDIRI
e. P.T. SINAR INTI
MUSTIKA
f. P.T. SEMESTA MITRA SEJAHTERA
g. P.T. BINTANG
SEJAHTERA BERSAMA
h. P.T. MITRA SINAR
JAYA
i. P.T. INDAH TERNAK MANDIRI
j. P.T. CEMERLANG UNGGAS LESTARI
k. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. METRO FEED INDONESIA
b. P.T. JAPFA COMFEED INDONESIA
c. P.T. MULTI DARANA
PAKANINDO
d. P.T. MITRA
MANGGALINDO
e. Etc.
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank MANDIRI Tbk
Wisma Bank MANDIRI
Jalan Gatot Subroto Kav. 36-38
Jakarta Barat
b. P.T. Bank PERMATA Tbk
Wisma
Bank PERMATA
Jalan Jend. Sudirman Kav. 27
Jakarta Selatan
c. CITIBANK N.A.
CITIBANK Building
Jalan Jend. Sudirman Kav. 54-55
Jakarta
Selatan
Auditor :
Purwantono, Suherman & Surya (a member of Ernst & Young)
Litigation :
No litigation record in our database
Annual Sales :
2009 – Rp.
14,569.3 billion
2010 – Rp.
15,077.8 billion
2011 – Rp.
17,958.0 billion
2012 – Rp.
21,310.9 billion
2013 – Rp.
11,984.5 billion (as of 30 June 2013)
Net Profit (Loss)
:
2009 – Rp. 1,612.7 billion
2010 – Rp. 2,219.9 billion
2011 – Rp. 2,362.5 billion
2012 – Rp. 2,680.9 billion
2013 – Rp. 1,529.6 billion (as of 30 June 2013)
Total Assets :
2009 – Rp. 5,349.4 billion
2010 – Rp. 6,518 3 billion
2011 – Rp. 8,848.2 billion
2012 – Rp. 12,348.6 billion
2013 – Rp. 13,776.9 billion (as of 30 June 2013)
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Rusmin Ryadi
Vice Pres. Directors -
a. Mr. Peraphon Prayooravong
b.
Mr. Vinai Rakphongphairoj
Directors -
a. Mrs. Ong Mei Sian
b. Mr. Jemmy
c. Mr. Eddy Dharmawan Mansjoer
d. Mr. Ferdiansyah Gunawan Tjoe
Board of Director :
President
Commissioner - Mr. Hadi Gunawan
Tjoe
Vice Pres. Commissioners -
a. Mr. Jiacipto Jiaravanon
b. Mr. Jialipto Jiaravanon
Independent Commissioners - a. Mr. Herman Sugianto
b. Mr. Suparman Sastrodimedjo
Signatories :
President Director (Mr. Tjiu Thomas
Effendy) or one of Vice Pres. Directors (Mr. Peraphon Prayooravong and Mr.
Vinai Rakphongphairoj) or one of directors (Mrs. Ong Mei Sian, Mr. Jemmy, Mr.
Eddy Dharmawan Mansjoer or Mr. Feerdiansyah Gunawan Tjoe) which must be
approved by Board of Commissioners.
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Below average
Credit Recommendation :
Credit can be proceeded normally
Proposed Credit Limit :
Moderate amount
Initially named P.T. CHAROEN POKPHAND INDONESIA
ANIMAL FEED MILL Co., Ltd., the company was set up in 1972 with an authorized
capital of US$ 1,000,000.- and issued capital of US$ 300,000.- of which US$
30,000.- was paid up. The founders and original shareholders are Mr. Sumet Jiaravanon, Mr. Jaran
Chiaravanont, Mr. Montri Chiaravanont (the three are Thai businessmen of
Chinese extraction) and Mr. Johannes Purnama Sudarma SH (an Indonesian
businessman of Chinese origin). The Deed of establishment was approved by the
Ministry of Justice of the Republic Indonesia in its Decision Letter No.
Y.A.5/197/21 dated June 8, 1973. In 1990
the company was renamed to P.T. CHAROEN POKPHAND INDONESIA. In February 1991
the company sold out 25% of its shares to the public through the Jakarta Stock
Exchange (BEJ). Its articles of
association have subsequently been changed for several times. In February 1997,
the authorized capital was increased to Rp. 400,000,000,000.- issued capital to Rp. 140,766,917,500.-
entirely paid-up and concurrently a word Terbuka (Tbk) was added behind its
name to comply with new law on publicly listed company to P.T. CHAROEN POKPHAND
INDONESIA Tbk., is abbreviated P.T. CPIT.
Pursuant to annual
report of the company, as of 31 December 2009 the issued capital was raised to
Rp. 164,228,000,000.- and fully paid up.
Then, as of 31 December 2011, the issued capital was declined to Rp.
163,980,000,000.- The shareholders of the company are P.T. CENTRAL AGROMINA
(55.53%) and Publics (44.47%). The
latest amendment to Articles of
Association was approved by the Ministry of Law and Human Right with the
Decision Letter No. AHU-AH.01.10-24242 dated June 17, 2013. No changes have
been effected in term of its shareholding composition and capital structures to
date.
We observed that P.T. CENTRAL AGROMINA is a
private company whose majority business stakes is controlled by Mr. Slamet
Jiaravanon and his family members. Mr. Jiaravanon is also founder and majority
business stakes owner of the CHAROEN POKPHAND Group, the largest business group
in Indonesia in animal feed milling and distribution.
P.T. CPIT (“the Company”) is a Foreign
Capital Investment (PMA) company dealing with animal feed milling by managing a
plant originally located at Jalan Ancol VIII/1, Ancol Barat (North Jakarta).
Its operation has been expanding rapidly by establishing two other factories
respectively in Surabaya (East Java) and Medan (North Sumatra). Furthermore,
they also operate the same plant in Tangerang (West Java). P.T. CPIT has several business segments with
different characteristics. Today, the Company is focused on agro-business
activities that encompass the entire spectrum of the poultry business, from the
production of superior feed products, to the breeding of fast-growing,
disease-resistant poultry stock and to the creation of high quality processed
poultry products.
The Company is also the dominant force in
the production and supply of poultry breeding stock for layer and boiler
chicken in Indonesia. As with poultry feed, the Company is the large producer
of high quality DOC for Indonesian farmers thanks to an extensive network of
breeding facilities across Java, Kalimantan, Bali, Sulawesi and Sumatra.
While poultry feed and poultry breeding
activities have historically been the main agro-business focus, the Company has
also responded to the rising poultry consumption by expanding into poultry
processing and production of high value-added poultry products. This is carried
out at the Company’s own slaughterhouse and processing plant in Cikande (West
Java), Salatiga (Central Java) and Surabaya (East Java).
In
the year ended December 31, 2012, the Company posted a recorded level of sales,
which reached Rp. 21,311 billion or 18.67% higher than the Rp 17,958 billion
realized in 2011. This is followed by
the Company’s highest ever level of income of Rp 2,681 billion for the year and
compared to Rp 2,362 billion for the previous year. Income for the year registered a growth of
13.5%.
From
the perspective of consolidated net sales, the biggest contribution was from
the poultry feed segment, followed by DOC, processed chicken and others, which
consist of poultry equipment, packaging and others at amounts to immaterial to
be included in the analysis. The details
of net sales based on business segments 2008 – 2012 (in million Rupiah) are as
follows:
|
Products |
Sales Value |
|||
|
2012 |
2011 |
2010 |
2009 |
|
|
Poultry Feed |
15,536,905 |
13,822,389 |
11,208,122 |
11,130,084 |
|
Day Old Chicks (DOC) |
3,116,761 |
2,404,605 |
2,447,278 |
2,192,585 |
|
Processed Chicken |
1,898,367 |
1,579,060 |
1,323,232 |
1,202,626 |
|
Poultry Equipment |
-- |
-- |
18,045 |
18,654 |
|
Packaging |
-- |
-- |
20,864 |
18,576 |
|
Others |
758,892 |
151,918 |
60,281 |
6,742 |
|
TOTAL |
21,310,925 |
17,957,972 |
15,077,822 |
14,569,267 |
Pursuant to Annual Report of the Company, in
the year ended December 31, 2012, P.T. CPIT has ownership interest of more than
50% shares directly and indirectly in the following subsidiaries which are engaged
in poultry farming, trading and processed chicken, production and distribution
of poultry feed, chicken feather meal and others. The table of P.T. CPIT’s
subsidiary companies shall be as follows:
(In Rp
million)
|
Name of Subsidiary |
Lines of Business |
Year of
Incorporation |
% of Ownership |
Total Assets (31 Dec. 2012) |
|
Direct ownership |
|
|
|
|
|
PT. Charoen Pokphand Jaya Farm |
Poultry farming |
1972 |
99.99 |
3,583,794 |
|
PT. Primafood International |
Trading and processed chicken |
2000 |
99.96 |
217,075 |
|
PT. Vista Grain |
Production and distribution of poultry feed |
1980 |
99.92 |
33,080 |
|
PT. Poly Packaging Industry |
Production of plastic product |
2003 |
99.99 |
51,525 |
|
PT. Feprotama Pertiwi |
Production and distribution of chicken feather meal |
1992 |
99.32 |
17,812 |
|
PT. Agrico International |
Trading |
2008 |
99.99 |
247,646 |
|
PT. Gizindo Sejahtera Jaya |
Poultry farming |
2012 |
99.97 |
37,483 |
|
PT. Sarana Proteina Utama |
Poultry farming |
2012 |
99.99 |
304,994 |
|
Indirect ownership |
|
|
|
|
|
PT. Centralavian Pertiwi |
Poultry farming |
1991 |
99.99 |
413,149 |
|
PT. Satwa Utama Raya |
Poultry farming |
1980 |
99.99 |
302,059 |
|
PT. Vista Agung kencana |
Poultry farming |
1980 |
99.99 |
174,489 |
|
PT. Istana Satwa Borneo |
Poultry farming |
1983 |
99.96 |
64,021 |
|
PT. Cipta Khatulistiwa Mandiri |
Poultry farming |
1983 |
50.00 |
50,753 |
|
PT. Cipendawa Agriindustri |
Poultry farming |
2009 |
99.98 |
63,666 |
|
PT. Proteindo Sumber Sejahtera |
Poultry farming |
2012 |
99.96 |
24,964 |
|
PT. Hamparan Proteindo Utama |
Poultry farming |
2012 |
99.96 |
25,284 |
|
PT. Kharisma Proteindo Utama |
Poultry farming |
2012 |
99.97 |
37,698 |
|
PT. Singa Mas International |
Trading of processed chicken |
2012 |
99.90 |
10,010 |
According
to financial statement the total sales turnover of P.T. CPIT in 2008 amounted to
Rp 13,311.1 billion with a net profit of Rp 254.0 billion, increased to Rp
14,569.3 billion with a net profit of Rp 1,612.7 billion in 2009 rose again to
Rp 15,077.8 billion with a net profit of Rp 2,219.9 billion in 2010 to Rp.
17,958.0 billion with a net profit of Rp. 2,362.5 billion in 2011 and rose
again to Rp. 21,310.9 billion with a net profit of Rp. 2,680.9 billion in
2012. As of June 30, 2013, its total
sales turnover was Rp. 11,984.5 billion with a net loss of Rp. 1,529.6 billion.
The Company’s consolidated statements of financial position, in the year ended
December 31, 2010, 2011, 2012 and as of 30 June 2013 are attached. So far, we have never heard that P.T. CPIT
has been black listed by Bank Indonesia (Central Bank) or involved in detrimental
cases being settled in the local court.
The
management of P.T. CPIT is led by Mr. Rusmin Ryadi (65) as president director,
a professional manager of Indonesia. He
graduated from Economy Faculty of Indonesia University in 1985. He started his career the Company in 1977 and
appointed as President Director of the Company since in May 2013 replacing Mr.
Tjiu Thomas Effendy (54). In daily
activities, he is assisted by Mr. Peraphon Prayooravong (59) and Mr. Vinai Rakphongphairoj
(56), both as vice president directors and four directors namely Mrs. Ong Mei
Sian (50), Mr. Jemmy (36), Mr. Eddy Dharmawan (36) and Mr. Ferdiansyah Gunawan
Tjoe (37). The management reputation is
the above business is excellent. The
management maintains wide relation with home and overseas private businessmen.
So far, we have never yet heard of the company’s management having been
involved in business malpractices. P.T. CPIT is sufficiently fairly good for
business transaction.
Attachment:
P.T. CHAROEN POKPHAND
INDONESIA Tbk, AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
December 31, 2010, 2011, 2012 and as of 30 June 2013
(in million Rp )
|
DESCRIPTION |
30 June 2013 |
31 December |
||
|
2012 |
2011 |
2010 |
||
|
1. ASSETS |
|
|
|
|
|
a. Current Assets |
|
|
|
|
|
- Cash and Cash
Equivalent |
1,271,142 |
954,690 |
876,198 |
1,316,840 |
|
- Trade Receivable |
|
|
|
|
|
* Third Parties |
2,082,267 |
1,766,767 |
1,331,463 |
883,855 |
|
* Related Parties |
56,381 |
26,515 |
21,607 |
6,635 |
|
- Other Receivable |
|
|
|
|
|
* Third Parties |
46,109 |
53,294 |
22,307 |
55,743 |
|
* Related Parties |
|
-- |
-- |
370 |
|
- Inventories - net |
3,307,973 |
3,366,317 |
2,339,543 |
1,554,780 |
|
- Breeding flocks – net |
664,045 |
624,710 |
527,496 |
395,111 |
|
- Advances |
224,157 |
325,085 |
85,785 |
28,594 |
|
- Prepaid taxes |
-- |
26,710 |
769 |
122 |
|
- Prepaid expenses |
39,959 |
36,798 |
20,665 |
20,466 |
|
Total Current Assets |
7,692,033 |
7,180,890 |
5,225,833 |
4,262,146 |
|
b. Non-current Assets |
|
|
|
|
|
- Advance for purchase
of property, Plant and equipments |
27,840 |
131,924 |
18,082 |
12,120 |
|
- Due from related
parties - net |
21,629 |
15,812 |
6,330 |
370 |
|
- Deferred tax assets |
93,006 |
92,337 |
70,486 |
71,036 |
|
- Property, plant and equipment
- net |
5,596,308 |
4,593,000 |
3,198,604 |
1,931,069 |
|
- Claims for tax refund |
259,033 |
288,559 |
269,786 |
194,850 |
|
- Goodwill |
-- |
-- |
7,438 |
-- |
|
- Other non-current
assets |
87,034 |
46,105 |
51,645 |
46,685 |
|
Total Non-Current Assets |
6,084,850 |
5,167,737 |
3,622,371 |
2,256,130 |
|
TOTAL ASSETS = TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
13,776,883 |
12,348,627 |
8,848,204 |
6,518,276 |
|
2. LIABILITIES |
|
|
|
|
|
a. Current Liabilities |
|
|
|
|
|
- Short-term bank loans |
359,290 |
477,575 |
241,360 |
2,080 |
|
- Trade Payables |
|
|
|
|
|
* Third Parties |
616,041 |
976,662 |
599,017 |
737,302 |
|
* Related Parties |
67,916 |
37,085 |
30,236 |
17,892 |
|
- Other Payables |
|
|
|
|
|
* Third parties |
254,620 |
190,229 |
143,185 |
107,073 |
|
* Related parties |
-- |
-- |
-- |
-- |
|
- Customer advance |
1,851 |
11,647 |
10,958 |
12,364 |
|
- Dividends payable |
754,308 |
-- |
-- |
-- |
|
- Taxes payable |
121,521 |
209,055 |
215,865 |
269,492 |
|
- Short-term employee
benefit liabilities |
64,626 |
1,715 |
1,859 |
2,968 |
|
- Accrued expenses |
90,073 |
103,833 |
79,227 |
68,060 |
|
-
Current portion of long-term debts |
181,591 |
159,834 |
36,163 |
165,994 |
|
-
Finance lease obligations |
-- |
18 |
42 |
955 |
|
Total Current Liabilities |
2,511,837 |
2,167,652 |
1,357,912 |
1,384,180 |
|
b. Non-Current Liabilities |
|
|
|
|
|
- Due to related parties |
383,180 |
329,272 |
217,640 |
77,161 |
|
- Deferred tax
liabilities – net |
6,488 |
3,271 |
2,718 |
10,342 |
|
- Long-term debts - net |
1,529,711 |
1,299,367 |
766,770 |
282,477 |
|
- Finance lease
obligations |
-- |
-- |
159 |
178 |
|
- Long-term employees
benefits liabilities |
393,939 |
372,601 |
313,694 |
279,080 |
|
Total Non-Current Liabilities |
2,313,318 |
2,004,511 |
1,300,822 |
552,060 |
|
|
|
|
|
|
|
3. EQUITY |
|
|
|
|
|
- Issued and Paid up Capital |
163,980 |
163,980 |
163,980 |
163,980 |
|
- Additional Paid up Capital |
121,175 |
121,175 |
121,175 |
121,175 |
|
- Difference in value of
restructuring trans- action of entities under
common control |
-- |
-- |
-- |
-- |
|
- Retained Earning |
|
|
|
|
|
* Appropriated |
33,000 |
33,000 |
10,000 |
9,000 |
|
* Un-appropriated |
8,614,936 |
7,838,460 |
5,866,112 |
4,164,277 |
|
- Non-controlling interest |
18,637 |
19,849 |
28,203 |
23,604 |
|
Total Equity |
8,933,091 |
8,176,464 |
6,189,470 |
4,482,036 |
|
|
|
|
|
|
|
3. INCOME
STATEMENT |
|
|
|
|
|
a. Net Sales |
11,984,498 |
21,310,925 |
17,957,972 |
15,077,822 |
|
b. Cost of Goods Sold |
(9,494,332) |
(16,819,413) |
(14,033,726) |
(11,323,708) |
|
c. Gross Profit |
2,490,166 |
4,491,512 |
3,924,246 |
3,754,114 |
|
d. Operating Expenses |
(479,099) |
(1,032,832) |
(915,033) |
(916,695) |
|
e. Operating Profit (Loss) |
2,011,067 |
3,458,680 |
3,009,213 |
2,837,419 |
|
f. Other Income (Expenses) |
(83,227) |
(82,181) |
(34,633) |
(19,192) |
|
g. Profit Before Income Tax |
1,927,840 |
3,376,499 |
2,974,580 |
2,818,227 |
|
h. Income Tax Expanse |
(398,241) |
(695,627) |
(612,083) |
(598,366) |
|
i. Income before Minority Interest |
1,529,599 |
2,680,872 |
2,362,497 |
2,219,861 |
|
j. Minority interest |
-- |
-- |
-- |
(9,595) |
|
k. Net Profit (Loss) |
1,529,599 |
2,680,872 |
2,362,497 |
2,219,861 |
Notes: Audited by Purwantono,
Suherman & Surya (a member of Ernst & Young)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.78 |
|
|
1 |
Rs.98.65 |
|
Euro |
1 |
Rs.83.41 |
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.