MIRA
INFORM REPORT
|
Report Date : |
12.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
LEONICS CO.,
LTD. |
|
|
|
|
Registered Office : |
113 Moo
5, Wellgrow Industrial
Estate, Bangna-Trad K.M. 36
Road, Bangsamak, Bangpakong,
Chachoengsao 24130 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
25.10.1993 |
|
|
|
|
Com. Reg. No.: |
0105536121781 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged in design,
producing and distributing wide
range of power
electronics and energy
conservation products |
|
|
|
|
No. of Employees : |
280 |
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 |
With a well-developed
infrastructure, a free-enterprise economy, generally pro-investment policies,
and strong export industries,
|
Source : CIA |
Company name
LEONICS
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 27, 29, BANGNA-TRAD
ROAD, BANGNA,
BANGKOK 1026,
THAILAND
TELEPHONE : [66] 2746-9500,
2746-8708
FAX : [66] 2746-8712
E-MAIL
ADDRESS : global_business@leonics.com
rne@leonics.com
REGISTRATION
ADDRESS : 113
MOO 5, WELLGROW
INDUSTRIAL ESTATE,
BANGNA-TRAD K.M.
36 ROAD, BANGSAMAK,
BANGPAKONG, CHACHOENGSAO
24130
ESTABLISHED : 1993
REGISTRATION NO. : 0105536121781 [Former :
7381/2536]
TAX
ID NO. : -
CAPITAL REGISTERED : BHT. 50,000,000
CAPITAL PAID-UP : BHT. 50,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : MARCH 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
WUTHIPONG SUPONTHANA, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 280
LINES
OF BUSINESS : POWER
ELECTRONICS PRODUCTS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
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 25, 1993
as a private
limited company under
the registered name style LEONICS CO.,
LTD., with the
business objective to
produce and supply
wide range of power electronics
and energy conservation products to
both domestic and international
markets. The subject received
promotional privilege for tax
exception from the Board of Investment for a period of 7
years commencing from the
first year of its
revenue earning. It
currently employs approximately
280 staff.
The subject achieved many awards since
its inception in 1993. The
awards are as
follows:
1997 : Certified
ISO 9002: 1994 by Underwriters Laboratories
Inc., [USA]
1998 : Certified
ISO 9001: 1994 by Underwriters Laboratories
Inc., [USA]
1999 : Prime
Minister award on SME Management
1999
:
JETRO honors as
excellence enterprise form
Thailand on APEC
SME forum
on Electrical
and electronics
:
Certified TIS 9001:1994
by TISI
:
All true on - line
UPS certified TIS
1921-2538
: Quality
to use “THAILAND
BRAND” Logo
2000 : Prime
Minister Export Award
2000
:
Prime Minister Export
Award for Outstanding
Performance as the
Best
Exporter
:
Prime Minister Export
Award for Distinctive
Development a Marketing
of
Thai Owned Brand
Export
:
Prime Minister Export
Award for Distinctive Development
a Marketing of
Thai Owned Design
Exports
2001 : Certified
TIS/ISO 14001:1996 by
Management System Certification
Institute
[Thailand]
: Certified
TIS/ISO 9001:1994 by
Management System Certification
Institute
[Thailand]
: Certified
ISO 9001:2000 by
Underwriters Laboratories Inc.,
U.S.A.
The subject’s registered
address is 113
Moo 5, Wellgrow
Industrial Estate, Bangna-Trad
K.M. 36 Rd.,
Bangsamak, Bangpakong, Chachoengsao
24130, while the
current operation address
is at 27, 29
Bangna-Trad Rd., Bangna, Bangkok
10260.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Samrerng Kriengprathana |
|
Thai |
66 |
|
Mrs. Pranee Kriengprathana |
|
Thai |
64 |
|
Mr. Decho Apinyalawan |
|
Thai |
66 |
|
Mr. Surapol Sangthongsuk |
|
Thai |
56 |
|
Mr. Wuthipong Suponthana |
|
Thai |
48 |
|
Mr. Veeraphan Pornthabthong |
|
Thai |
56 |
|
Ms. Surang Kriengprathana |
|
Thai |
40 |
|
Mr. Arunkij Sorsukpaibul |
|
Thai |
46 |
|
Mrs. Suree Ono |
|
Thai |
39 |
AUTHORIZED PERSON
Two of the
above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Wuthipong Suponthana
is the Managing
Director.
He is Thai
nationality with the
age of 48
years old.
Mr. Veeraphan Pornthabthong is
the Factory Manager.
He is Thai
nationality with the
age of 56
years old.
Mrs. Duangporn Niyomsin
is the Account
Manager.
She is Thai nationality.
Ms. Varunee Imsamran is
the Sales & Marketing Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in design,
producing and distributing
wide range of
power electronics and
energy conservation products.
Its products are
as follows:
-
UPS [Uninterruptible Power
Supply]
-
AVR [Automatic
Voltage Regulator]
-
SPD
[Surge Protection Devices]
-
SSE [Surge
Suppression Equipment]
-
TVSS [Transient
Voltage Surge Suppressor]
-
Smart light
-
Renewable
Energy Products: solar
module, active solar
tracking system, charge
controller, inverter, battery,
solar thermal, and
I-V-checker.
-
Energy
Saving Products: gas
fired absorption chiller,
gas fired absorption
heat pump, lighting
energy saver, and
pneumatic tubes system.
-
Custom
Renewable Energy System:
200 kWp-diesel generator
hybrid minigrid system,
PV power farm
system, inverter hybrid
system for remote
area power system,
mini-power plant, 100kWp-diesel
generator hybrid minigrid
system, PV system
for communication, PV
battery charging system,
PV testing system,
etc.
-
Energy
Conservation Systems: solar
photovoltaic system, solar
island hybrid power,
solar farm, stand-alone-solar power,
solar grid tie
system, solar home
system, solar water
pump system, solar
thermal system, solar
water heating system
and cost-effective solar
thermal.
PRODUCTION CAPACITY
20,000 units/month [line
interactive UPS 500
AV]
MAJOR BRAND
“LEONICS”
PURCHASE
Most of raw materials
and accessories are
purchased from local
suppliers, batteries are imported
from Taiwan, Singapore, Republic of
China, Japan, U.S.A.
and France.
SALES [LOCAL]
80% of its
products is sold
locally to wholesalers,
dealers and end-users.
EXPORT [COUNTRIES]
20% of its
products is exported
to Vietnam, Myanmar, Philippines, Laos,
Korea, Japan, United
Arab Emirates, Dubai,
India, Indonesia, and
Republic of China.
MAJOR CUSTOMER
Leo Power Solutions
Co., Ltd. : Thailand
Tip Information Systems
Co., Ltd. : Thailand
SK Automation Co.,
Ltd. : Thailand
My Web Co.,
Ltd. : Thailand
Pong Paiboon Hi-Tech
Co., Ltd. : Thailand
JB Computer and
OA Co., Ltd. : Thailand
SUBSIDIARIES & AFFILIATED
COMPANIES
Leo Electronics Co.,
Ltd.
Business Type : Distributor of
“Leonic” products
Leonics Esco Co., Ltd.
Business Type : Service center
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
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. [Bangna Branch]
EMPLOYMENT
The subject employs
approximately 280 staff.
[office staff and
factory workers]
LOCATION DETAILS
The premise is owned for operating
administrative office at the
heading address. It
is located in
commercial / residential area.
Factory and warehouse
are located at
113 Moo 5,
Wellgrow Industrial Estate,
Bangna-Trad K.M. 36
Rd., Bangsamak, Bangpakong,
Chachoengsao 24130.
Tel.: [66] 38
570-503-6 Fax: [66]
38 570-512.
COMMENT
The
company is dedicated
to providing the customers
with products and
services to secure
electrical efficiently and
environment-friendly. Its business
performance remains upbeat
as its products
have been widely
used in various
industries. Despite of
an increase in
sales revenue comparing to
the previous year,
but the net profit
was dropped. This
was mainly due
to a rise
in cost of
goods sold, selling
& administrative expenses
as well as
unfavourable global economy.
However, the subject’s sales
and exports also
maintain a good
level. Its business
trend is expanding
steadily.
FINANCIAL INFORMATION
The capital was
registered at Bht.
1,000,000 divided into
10,000 shares of
Bht. 100 each.
The capital was
increased later as
followings :
Bht. 10,000,000
on March 8,
1994
Bht. 35,000,000
on November 10,
1994
Bht. 50,000,000
on September 6,
1996
The latest registered
capital was increased
to Bht. 50,000,000 divided into 500,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS
LISTED WERE
[as at July
30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Pranee Kriengprathana Nationality: Thai Address : 154/2
Nanglinchee Rd., Sathorn,
Bangkok |
499,997 |
99.99 |
|
Mr. Samrerng Kriengprathana Nationality: Thai Address : 154/2
Nanglinchee Rd., Sathorn,
Bangkok |
1 |
|
|
Mr. Surapol Sangthongsuk Nationality: Thai Address : 336
Soi Seenamngeon, Bangsue,
Bangkok |
1 |
= 0.01 |
|
Mrs. Suree Ono Nationality: Thai Address : 154/2
Nanglinchee Rd., Sathorn,
Bangkok |
1 |
|
Total Shareholders : 4
Share Structure [as
at July 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
4 |
500,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO
Mrs. Lakhana Neeramitr
No. 3558
BALANCE SHEET [BAHT]
The latest financial figures published
as at March
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
62,459,732.11 |
109,143,743.35 |
204,858,496.97 |
|
Short-term Investment |
195,000,000.00 |
200,000,000.00 |
- |
|
Trade Accounts & Other Receivable |
60,164,357.85 |
48,904,521.53 |
22,638,760.47 |
|
Related Company Receivable |
- |
- |
46,076,741.44 |
|
Inventories |
149,293,540.99 |
140,540,165.20 |
148,661,097.92 |
|
Other Current Assets
|
540,212.01 |
582,333.49 |
8,984,200.54 |
|
|
|
|
|
|
Total Current Assets
|
467,457,842.96 |
499,170,763.57 |
431,219,297.34 |
|
|
|
|
|
|
Cash at Bank pledged as a Collateral |
14,000,000.00 |
32,000,000.00 |
2,568,000.00 |
|
Investment in Subsidiaries |
4,259,919.00 |
4,009,994.00 |
4,009,994.00 |
|
Investment in Other |
35,620,566.00 |
35,620,566.00 |
35,620,566.00 |
|
Fixed Assets |
161,195,537.16 |
50,452,157.85 |
43,405,640.79 |
|
Other Non-current Assets |
5,231,695.42 |
4,883,009.04 |
11,064,284.15 |
|
Total Assets |
687,765,560.54 |
626,136,490.46 |
527,887,782.28 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Accounts & Other Payable
|
41,449,269.98 |
36,295,367.87 |
43,239,653.99 |
|
Accrued Income Tax |
6,494,782.83 |
14,435,711.54 |
6,661,511.31 |
|
Other Current Liabilities |
1,162,114.53 |
700,332.66 |
5,566,224.73 |
|
|
|
|
|
|
Total Current Liabilities |
49,106,167.34 |
51,431,412.07 |
55,467,390.03 |
|
|
|
|
|
|
Employee Benefits Obligation |
16,848,681.01 |
16,119,243.65 |
- |
|
Other Non-current Liabilities |
566,550.00 |
8,342,320.70 |
85,804,506.54 |
|
Total Liabilities |
66,521,398.35 |
75,892,976.42 |
141,271,896.57 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 500,000 shares |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
|
|
|
|
|
Capital Paid |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Retained Earnings: Appropriated for Statutory
Reserve |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Unappropriated |
566,244,162.19 |
495,243,514.04 |
331,615,885.71 |
|
Total Shareholders' Equity |
621,244,162.19 |
550,243,514.04 |
386,615,885.71 |
|
Total Liabilities & Shareholders' Equity |
687,765,560.54 |
626,136,490.46 |
527,887,782.28 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
730,518,065.77 |
657,311,681.59 |
328,231,141.65 |
|
Interest Income |
8,422,278.77 |
5,469,747.32 |
1,381,926.96 |
|
Other Income |
2,676,245.82 |
1,230,922.36 |
992,008.46 |
|
Total Revenues |
741,616,590.36 |
664,012,351.27 |
330,605,077.07 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
496,705,489.81 |
371,952,869.46 |
203,916,460.55 |
|
Selling Expenses |
21,107,782.84 |
14,713,840.67 |
12,239,855.59 |
|
Administrative Expenses |
38,801,755.22 |
36,669,481.16 |
29,926,011.62 |
|
Total Expenses |
556,615,027.87 |
423,336,191.29 |
246,082,327.76 |
|
Profit / [Loss] before Income Tax |
185,001,562.49 |
240,676,159.98 |
84,522,749.31 |
|
Income Tax |
[14,000,914.34] |
[27,293,532.05] |
[10,194,848.54] |
|
|
|
|
|
|
Net Profit / [Loss] |
171,000,648.15 |
213,382,627.93 |
74,327,900.77 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
9.52 |
9.71 |
7.77 |
|
QUICK RATIO |
TIMES |
6.47 |
6.96 |
4.93 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.53 |
13.03 |
7.56 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.06 |
1.05 |
0.62 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
109.71 |
137.91 |
266.10 |
|
INVENTORY TURNOVER |
TIMES |
3.33 |
2.65 |
1.37 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
30.06 |
27.16 |
25.17 |
|
RECEIVABLES TURNOVER |
TIMES |
12.14 |
13.44 |
14.50 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
30.46 |
35.62 |
77.40 |
|
CASH CONVERSION CYCLE |
DAYS |
109.31 |
129.45 |
213.87 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
67.99 |
56.59 |
62.13 |
|
SELLING & ADMINISTRATION |
% |
8.20 |
7.82 |
12.85 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
33.53 |
44.43 |
38.60 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
25.32 |
36.62 |
25.75 |
|
NET PROFIT MARGIN |
% |
23.41 |
32.46 |
22.64 |
|
RETURN ON EQUITY |
% |
27.53 |
38.78 |
19.23 |
|
RETURN ON ASSET |
% |
24.86 |
34.08 |
14.08 |
|
EARNING PER SHARE |
BAHT |
342.00 |
426.77 |
148.66 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.10 |
0.12 |
0.27 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.11 |
0.14 |
0.37 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
11.14 |
100.26 |
|
|
OPERATING PROFIT |
% |
(23.13) |
184.75 |
|
|
NET PROFIT |
% |
(19.86) |
187.08 |
|
|
FIXED ASSETS |
% |
219.50 |
16.23 |
|
|
TOTAL ASSETS |
% |
9.84 |
18.61 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 11.14%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
33.53 |
Impressive |
Industrial
Average |
13.18 |
|
Net Profit Margin |
23.41 |
Impressive |
Industrial
Average |
(0.86) |
|
Return on Assets |
24.86 |
Impressive |
Industrial
Average |
0.25 |
|
Return on Equity |
27.53 |
Impressive |
Industrial
Average |
0.88 |
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 33.53%. 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 23.41%,
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
24.86%, 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 27.53%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
9.52 |
Impressive |
Industrial
Average |
2.75 |
|
Quick Ratio |
6.47 |
|
|
|
|
Cash Conversion Cycle |
109.31 |
|
|
|
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 9.52 times in 2013, decrease from 9.71 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 higher, indicated that company
was an efficient operator in a dominant position within its industry.
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 6.47 times in 2013,
decrease from 6.96 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 110 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.10 |
Impressive |
Industrial
Average |
0.55 |
|
Debt to Equity Ratio |
0.11 |
Impressive |
Industrial
Average |
1.24 |
|
Times Interest Earned |
- |
|
Industrial
Average |
(3.16) |
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.1 less than 0.5, most of the company's
assets are financed through equity.
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 |
4.53 |
Impressive |
Industrial
Average |
(2.79) |
|
Total Assets Turnover |
1.06 |
Deteriorated |
Industrial Average |
4.51 |
|
Inventory Conversion Period |
109.71 |
|
|
|
|
Inventory Turnover |
3.33 |
Deteriorated |
Industrial
Average |
16.74 |
|
Receivables Conversion Period |
30.06 |
|
|
|
|
Receivables Turnover |
12.14 |
Impressive |
Industrial
Average |
6.19 |
|
Payables Conversion Period |
30.46 |
|
|
|
The company's Account Receivable Ratio is calculated as 12.14 and
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 138 days at the
end of 2012 to 110 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 2.65 times in year 2012 to 3.33 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.06 times and 1.05
times in 2013 and 2012 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 Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.29 |
|
|
1 |
Rs.101.36 |
|
Euro |
1 |
Rs.84.59 |
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.