MIRA
INFORM REPORT
|
Report Date : |
24.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
ANCA MANUFACTURING [THAILAND] LTD. |
|
|
|
|
Registered Office : |
109/14 Moo 4, SOI 6B, Eastern Seaboard Industrial Estate, Pluakdaeng, Rayong 21140 |
|
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|
|
Country : |
Thailand |
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|
|
|
Financials (as on) : |
30.06.2012 |
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|
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Date of Incorporation : |
05.09.2005 |
|
|
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Com. Reg. No.: |
0215548002196 [Former :
0217354802199] |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Distributor and Exporter of High Precision CNC Grinding Machines. |
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No. of Employees : |
125 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – 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 |
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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 crisis 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
ANCA MANUFACTURING [THAILAND] LTD.
SUMMARY
BUSINESS ADDRESS : 109/14 MOO 4, SOI 6B,
EASTERN SEABOARD INDUSTRIAL ESTATE, PLUAKDAENG, RAYONG 21140
TELEPHONE : [66] 38
959-252
FAX :
[66] 38
959-251
E-MAIL ADDRESS : bowles@anca.com
thaiinfo@anca.com
REGISTRATION ADDRESS : SAME AS BUSINESS ADDRESS
ESTABLISHED : 2005
REGISTRATION NO. : 0215548002196 [Former :
0217354802199]
TAX ID NO. : 3031958050
CAPITAL REGISTERED : BHT. 75,000,000
CAPITAL PAID-UP : BHT. 75,000,000
SHAREHOLDER’S PROPORTION : AUSTRALIAN : 100%
FISCAL YEAR CLOSING DATE : JUNE
30
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. MARK JOHN TRISTRAM, BRITISH
GENERAL MANAGER
NO. OF STAFF : 125
LINES OF BUSINESS : HIGH PRECISION CNC GRINDING MACHINES
MANUFACTURER, DISTRIBUTOR AND 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 September 5,
2005 as a private
limited company under the name
style ANCA MANUFACTURING [THAILAND]
LTD., by Australian
groups, with the
business objective to
manufacture CNC tools and
cutter grinding machines for
both local and
export markets. It currently
employs approximately 125
staff.
Subject
is a wholly
owned subsidiary of
ANCA Pty Ltd.,
Australia, which is
a member of
ANCA group. Its
offices are located
in the U.K.,
Germany, Italy, Japan,
Republic of China, Brazil,
India, and U.S.A.,
as well as a
comprehensive global network
of representatives and
agents.
The
subject’s registered address
is 109/14 Moo
4, Soi 6B, Eastern
Seaboard Industrial Estate,
Pluakdaeng, Rayong 21140,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Patrick Gerard Boland |
|
Australian |
65 |
|
Mr. Patrick John Mccluskey |
|
Australian |
65 |
|
Mr. Mark John Tristram |
|
British |
42 |
AUTHORIZED PERSON
Anyone of the above
directors can sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Mark John Tristram
is the General
Manager.
He is British
nationality with the
age of 42 years
old.
Mr. Thanaphan Thungphudaeng
is the Factory
Manager.
He is Thai
nationality.
Ms. Yanisa Ninlawong is
the Financial &
Administration Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in design
and manufacturing of
high precision CNC
grinding machine assembly,
including Computer Numerical
Controls [CNCs] tools and
Cutter Grinding Machines
for machine tools
and metal-based industries.
PRODUCTION CAPACITY
1,300 sets per annum
BRAND NAME
“ANCA”
PURCHASE
Most of raw
materials; metal parts,
electronics parts and etc.,
are purchased from
local suppliers, the
remaining and equipment
are imported from
Australia, Republic of
China, Germany and
United States of
America.
MAJOR
SUPPLIERS
ANCA Pty Ltd. : Australia
ANCA Machine Tool [Shanghai] Co.,
Ltd. : Republic
of China
EXPORT
80% of the
products is exported
to Australia, Republic of
China, India, Germany,
Korea, United States
of America, Brazil,
Japan, Malaysia, Singapore,
United Kingdom and
Italy.
SALES [LOCAL]
20% of the
products is sold
and serviced locally to
manufacturers and end-users.
MAJOR CUSTOMERS
Sahamit Machinery Public
Company Limited :
Thailand
ANCA Machine Tool
[Shanghai] Co., Ltd. : Republic
of China
ANCA Pty. Ltd. : Australia
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 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
L/C at sight
or T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
The Hong Kong
and Shanghai Banking
Corporation [Bangkok Branch]
EMPLOYMENT
The
subject employs approximately
125 staff, comprising
96 permanent staff
and 29 sub-contracted staff.
LOCATION
DETAILS
The
premise is owned
for administrative office,
factory and warehouse
at the heading
address. Premise is
located in industrial
area.
COMMENT
The
subject is a subsidiary
of ANCA Pty Ltd.
It has been
set up as
a manufacturing plant
and provides additional
manufacturing capacity to
ANCA’s main factory
in Australia. It currently
boasts a solid range
of CNC machines. All products
are complemented by ANCA’s leading
edge software and
meet specific production
requirement.
The subject
has strong business
growth and continued
expanding.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 16,200,000
divided into 3,240,000
shares of Bht.
5 each.
On
June 25, 2007,
the capital was
increased to Bht. 75,000,000 divided
into 15,000,000 shares
of Bht. 5
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
October 19, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
ANCA Pty Ltd. Nationality: Australian Address : 25
Gatwick Rd., Bayswater,
North Victoria,
Australia 3153 |
14,999,985 |
99.99 |
|
Mr. Patrick John Mccluskey Nationality: Australian Address : 6
Kingfield Court, Camberwell, North Victoria,
Australia 3153 |
5 |
|
|
Mr. Patrick Gerard Boland Nationality: Australian Address : 73
Alfred Street, Kew, Victoria,
Australia 3101 |
5 |
= 0.01 |
|
Mr. Grant Anderson Nationality: Australian Address : 25
Gatwick Rd., Bayswater,
North Victoria,
Australia 3153 |
5 |
|
Total Shareholders : 4
Share Structure [as
at October 19,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign-Australian |
4 |
15,000,000 |
100.00 |
|
Total |
4 |
15,000,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sittichoke Kwansong
No. 4346
Note:
The financial statement
as of June
30, 2013 is
still unavailable at
the Commercial Registration
Department.
BALANCE SHEET [BAHT]
The latest financial figures published
as at June 30, 2012,
2011 & 2010
were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
11,966,107.04 |
15,968,986.33 |
7,335,168.28 |
|
Trade Accounts Receivable
|
155,059,638.25 |
207,022,478.59 |
23,350,984.82 |
|
Trade Accounts Receivable
- Parent & Related
Company |
1,046,228,833.86 |
542,121,432.55 |
220,230,821.51 |
|
Inventories |
249,063,635.55 |
274,875,326.14 |
127,968,970.83 |
|
Refundable Import Duty |
49,175.36 |
3,522,358.93 |
3,522,358.89 |
|
Prepaid Expenses |
859,541.52 |
1,680,829.11 |
2,579,321.76 |
|
Other Current Assets
|
5,146,139.81 |
4,466,606.16 |
2,466,816.14 |
|
|
|
|
|
|
Total Current Assets
|
1,468,373,071.39 |
1,049,658,017.81 |
387,454,442.23 |
|
Cash at Bank
pledged as a
Collateral |
487,294.97 |
317,294.97 |
225,180.32 |
|
Fixed Assets |
73,997,196.71 |
72,149,618.80 |
70,356,778.53 |
|
Intangible Assets |
1,598,791.65 |
2,073,948.28 |
- |
|
Other Non-current Assets |
218,188.00 |
148,188.00 |
77,188.00 |
|
Total Assets |
1,544,674,542.72 |
1,124,347,067.86 |
458,113,589.08 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts Payable
|
108,414,932.91 |
107,295,467.47 |
43,350,722.94 |
|
Trade Accounts Payable
- Parent & Related
Company |
696,214,774.28 |
547,079,938.05 |
122,851,149.86 |
|
Current Portion of
Finance Lease Contract Liabilities |
1,199,393.08 |
388,011.91 |
87,579.69 |
|
Accrued Commission |
61,792,311.96 |
53,434,263.80 |
6,654,240.82 |
|
Advance Deposit for
Goods |
79,915,790.85 |
15,064,951.40 |
- |
|
Other Current Liabilities |
2,329,106.30 |
3,725,113.63 |
3,374,560.09 |
|
|
|
|
|
|
Total Current Liabilities |
949,866,309.38 |
726,987,746.26 |
176,318,253.40 |
|
Finance Lease Contract
Liabilities - Net |
2,384,412.33 |
585,096.41 |
- |
|
Employee Benefit Obligation |
1,668,505.89 |
- |
- |
|
Total Liabilities |
953,919,227.60 |
727,572,842.67 |
176,318,253.40 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 5 par
value authorized, issued
and fully paid share
capital 15,000,000 shares |
75,000,000.00 |
75,000,000.00 |
75,000,000.00 |
|
|
|
|
|
|
Capital Paid |
75,000,000.00 |
75,000,000.00 |
75,000,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
20,588,711.26 |
10,339,766.78 |
- |
|
Unappropriated |
495,166,603.86 |
311,434,458.41 |
206,795,335.68 |
|
Total Shareholders' Equity |
590,755,315.12 |
396,774,225.19 |
281,795,335.68 |
|
Total Liabilities &
Shareholders' Equity |
1,544,674,542.72 |
1,124,347,067.86 |
458,113,589.08 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
1,920,919,332.83 |
1,844,469,030.75 |
612,875,037.48 |
|
Gain on Exchange Rate |
5,445,250.83 |
29,801,138.41 |
- |
|
Other Income |
124,296.92 |
119,122.57 |
273,664.80 |
|
Total Revenues |
1,926,488,880.58 |
1,874,389,291.73 |
613,148,702.28 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
1,505,346,152.24 |
1,518,288,012.76 |
469,634,871.83 |
|
Selling Expenses |
75,729,853.75 |
94,410,555.21 |
22,083,604.63 |
|
Administrative Expenses |
58,687,044.93 |
54,937,018.47 |
29,804,520.80 |
|
Loss on Exchange Rate |
- |
- |
3,976,035.42 |
|
Total Expenses |
1,639,763,050.92 |
1,667,635,586.44 |
525,499,032.68 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
286,725,829.66 |
206,753,705.29 |
87,649,669.60 |
|
Financial Costs |
[2,303,517.65] |
[1,056,384.57] |
- |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
284,422,312.01 |
205,697,320.72 |
87,649,669.60 |
|
Income Tax |
[441,222.08] |
[718,431.21] |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
283,981,089.93 |
204,978,889.51 |
87,649,669.60 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.55 |
1.44 |
2.20 |
|
QUICK RATIO |
TIMES |
1.28 |
1.05 |
1.42 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
25.96 |
25.56 |
8.71 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.24 |
1.64 |
1.34 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
60.39 |
66.08 |
99.46 |
|
INVENTORY TURNOVER |
TIMES |
6.04 |
5.52 |
3.67 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
29.46 |
40.97 |
13.91 |
|
RECEIVABLES TURNOVER |
TIMES |
12.39 |
8.91 |
26.25 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
26.29 |
25.79 |
33.69 |
|
CASH CONVERSION CYCLE |
DAYS |
63.57 |
81.25 |
79.67 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
78.37 |
82.32 |
76.63 |
|
SELLING & ADMINISTRATION |
% |
7.00 |
8.10 |
8.47 |
|
INTEREST |
% |
0.12 |
0.06 |
- |
|
GROSS PROFIT MARGIN |
% |
21.92 |
19.31 |
23.42 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
14.93 |
11.21 |
14.30 |
|
NET PROFIT MARGIN |
% |
14.78 |
11.11 |
14.30 |
|
RETURN ON EQUITY |
% |
48.07 |
51.66 |
31.10 |
|
RETURN ON ASSET |
% |
18.38 |
18.23 |
19.13 |
|
EARNING PER SHARE |
BAHT |
18.93 |
13.67 |
5.84 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.62 |
0.65 |
0.38 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.61 |
1.83 |
0.63 |
|
TIME INTEREST EARNED |
TIMES |
124.47 |
195.72 |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
4.14 |
200.95 |
|
|
OPERATING PROFIT |
% |
38.68 |
135.89 |
|
|
NET PROFIT |
% |
38.54 |
133.86 |
|
|
FIXED ASSETS |
% |
2.56 |
2.55 |
|
|
TOTAL ASSETS |
% |
37.38 |
145.43 |
|
ANNUAL GROWTH: EXCELLENT
An annual sales growth is 4.14%. Turnover has increased from THB
1,844,469,030.75 in 2011 to THB 1,920,919,332.83 in 2012. While net profit has
increased from THB 204,978,889.51 in 2011 to THB 283,981,089.93 in 2012. And
total assets has increased from THB 1,124,347,067.86 in 2011 to THB
1,544,674,542.72 in 2012.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
21.92 |
Deteriorated |
Industrial Average |
53.82 |
|
Net Profit Margin |
14.78 |
Impressive |
Industrial Average |
6.29 |
|
Return on Assets |
18.38 |
Impressive |
Industrial Average |
9.23 |
|
Return on Equity |
48.07 |
Impressive |
Industrial Average |
19.11 |
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 21.92%. When
compared with the industry average, the ratio of the company was lower. This
indicated that company may have problems with control over its costs.
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 14.78%, 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
18.38%, 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 48.07%, 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 |
1.55 |
Satisfactory |
Industrial Average |
1.75 |
|
Quick Ratio |
1.28 |
|
|
|
|
Cash Conversion Cycle |
63.57 |
|
|
|
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 1.55 times in 2012, increased from 1.44 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 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 1.28 times in 2012,
increased from 1.05 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 64 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.62 |
Acceptable |
Industrial Average |
0.51 |
|
Debt to Equity Ratio |
1.61 |
Risky |
Industrial Average |
1.05 |
|
Times Interest Earned |
124.47 |
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 124.48 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 0.62 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 Downtrend
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
25.96 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.24 |
Satisfactory |
Industrial Average |
1.47 |
|
Inventory Conversion Period |
60.39 |
|
|
|
|
Inventory Turnover |
6.04 |
Impressive |
Industrial Average |
3.42 |
|
Receivables Conversion Period |
29.46 |
|
|
|
|
Receivables Turnover |
12.39 |
Impressive |
Industrial Average |
2.83 |
|
Payables Conversion Period |
26.29 |
|
|
|
The company's Account Receivable Ratio is calculated as 12.39 and 8.91
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 increased from 2011. This would suggest the company had good performance
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 66 days at the
end of 2011 to 60 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 5.52 times in year 2011 to 6.04 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.24 times and 1.64
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.52 |
|
|
1 |
Rs.100.26 |
|
Euro |
1 |
Rs.84.67 |
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.