MIRA
INFORM REPORT
|
Report Date : |
07.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
PTT PHENOL
COMPANY LIMITED |
|
|
|
|
Registered Office : |
4th
Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
04.06.2004 |
|
|
|
|
Com. Reg. No.: |
0105547075484 [Former : 0108354704515] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer and distributor
of Phenol, Acetone
and BPA for
petrochemical and oil
refinery industries. |
|
|
|
|
No. of Employees : |
150 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. 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 in 2013
implemented a nation-wide 300 baht ($10) per day minimum wage policy and
deployed 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 recession severely cut Thailand's exports, with most
sectors experiencing double-digit drops. In late 2011 Thailand's recovery was
interrupted by historic flooding in the industrial areas in Bangkok and its
five surrounding provinces, crippling the manufacturing sector. The government
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 following seven years. This was expected to lead to an
economic upsurge but growth has remained slow, in part due to ongoing political
unrest and resulting uncertainties. Spending on infrastructure will require
re-approval once a new government is seated
|
Source
: CIA |
Company name and address
PTT
PHENOL COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 4th FLOOR,
ENERGY COMPLEX BUILDING,
555/1
VIBHAVADI-RANGSIT ROAD,
JATUJAK,
BANGKOK 10900, THAILAND
TELEPHONE : [66] 2140-3600-3
FAX :
[66] 2140-3614,
2140-3611
E-MAIL
ADDRESS : info@pttphenol.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2004
REGISTRATION
NO. : 0105547075484 [Former : 0108354704515]
TAX
ID NO. : 3031436077
CAPITAL REGISTERED : BHT. 11,851,200,000
CAPITAL PAID-UP : BHT. 9,001,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PRAMIN PUNTAWEESAK, THAI
CHIEF EXECUTIVE
OFFICER AND PRESIDENT
EMPLOYEES : 150
LINES
OF BUSINESS : PETROCHEMICAL
MANUFACTURER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established on June
4, 2004 as
a private limited
company under the
name style PTT PHENOL
COMPANY LIMITED, by
PTT group of
companies, initially by a joint
venture among PTT
Public Company Limited, PTT
Chemical Public Company Limited and PTT Aromatics and Refining Public Company
Limited, with holding around 40%,
30% and 30%
of the subject’s
shares respectively.
In
2013, the subject
becomes a wholly
owned subsidiary of PTT Global
Chemical Public Company
Limited.
Its
business objective is
to manufacture petrochemical
products, specialized in
Phenol for petrochemical production
and refinery industry.
It currently employs
approximately 150 staff.
The subject’s registered address was initially
located at 123 Vibhavadi-Rangsit Rd., Chompol, Jatujak,
Bangkok 10900.
On
March 2, 2010,
it was relocated
to 4th Flr.,
Energy Complex Bldg.,
555/1 Vibhavadi-Rangsit Rd.,
Jatujak, Bangkok 10900,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Patipan Sukhonthamarn |
|
Thai |
53 |
|
Mrs. Panthip Ungphasook |
|
Thai |
54 |
|
Mr. Tosaporn Boonyapipat |
|
Thai |
49 |
|
Mr. Pramin Puntaweesak |
|
Thai |
60 |
|
Mr. Bavorn Wongsinudom |
|
Thai |
60 |
|
Mr. Narong Banditkamol |
|
Thai |
60 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Pramin Puntaweesak
is the Chief
Executive Officer and
President.
He is Thai
nationality with the
age of 60
years old.
Mr. Siridej Khumvongdi is
the Vice President
of Administration.
He is Thai
nationality.
Mr. Kamphon Chaikijkosri is
the Vice President
of Operation.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s objective
is a manufacturer
and distributor of
Phenol, Acetone and
BPA for petrochemical
and oil refinery
industries.
PRODUCTION
Phenol : 200,000
tons per annum
Acetone : 124,000
tons per annum
BPA : 150,000
tons per annum
PURCHASE
100% of raw
materials are purchased
from local suppliers
and agents.
MAJOR SUPPLIERS
PTT Global Chemical
Public Company Limited : Thailand
PTT Public Company
Limited : Thailand
IRPC Public Company
Limited : Thailand
SALES
100% of the
products is sold
locally by wholesale
to petrochemical industry
and oil refinery.
MAJOR CUSTOMERS
IRPC Public Company
Limited
Thai Oil Public
Company Limited
PTT Public Company
Limited
Bangchak Petroleum Public
Company Limited
Chevron Group of
Companies
Esso
[Thailand] Public Company
Limited
RPCG
Public Company Limited
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 terms
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
BANKING
Bangkok Bank Public
Co., Ltd.
The Siam Commercial
Bank Public Co.,
Ltd.
Krung Thai Bank
Public Co., Ltd.
TMB Bank Public
Co., Ltd.
EMPLOYMENT
The
subject currently employs
approximately 150 staff.
LOCATION
DETAILS
The premise
is owned for
administrative office at
the heading address. Premise is
located in commercial/residential area.
Factory
and warehouse are
located at 9
Soi G9, Pakornsongkrohraj Rd.,
T. Maptaphut, A. Muang, Rayong
21000. Tel :
[66] 38 643-901, Fax
: [66] 38 643-827.
Premises
is on 214,400
square meters of
land area.
COMMENT
PTT Phenol was the first
company to produce Phenol in Southeast Asia, the world’s largest market for
this chemical. Phenol is used as a raw material in the production of plastic
polycarbonate.
In
the second half of
2013 many industries
performed worse than
in the first
six months due to
the global economic
slowdown, prompting the Office
of Industrial Economics
to cut its
growth forecast for
industrial gross domestic
product (GDP). It
cited the slower growth
of the global
economy and declining
purchasing power in the
Thai market for the
revision. Many industries’
performances are expected
to drop in
the second half
of this year.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 800,000,000 divided
into 8,000,000 shares
of Bht. 100
each.
The
capital was increased
later as following:
Bht. 4,000,000,000 on
April 10, 2006
Bht. 5,400,000,000 on
September 1, 2006
Bht. 7,000,000,000 on
August 1, 2008
Bht. 9,252,000,000 on
March 24, 2009
Bht. 11,851,200,000 on
July 12, 2013
The
latest registered capital
was increased to Bht. 11,851,200,000 divided
into 118,512,000 shares of
Bht. 100 each,
with the current
capital paid-up at Bht. 9,001,000,000.
THE SHAREHOLDERS LISTED WERE
[as
at April 4,
2014] at Bht.
9,001,000,000 of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
PTT Global Chemical
Public Company Limited Nationality: Thai Address : 14th
- 18th Floor, Energy
Complex Building A, 555/1 Vibhavadi-Rangsit Rd.,
Jatujak, Bangkok |
118,511,998 |
100.00 |
|
Mr. Vina Kemajito Nationality: Thai Address : 147
Soi Prachachuen 37,
Prachachuen Rd.,
Bangsue, Bangkok |
1 |
- |
|
Mr. Tosaporn Boonyapipat Nationality: Thai Address : 31/361
Moo 2, T. Thabma,
A. Muang, Rayong |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 4,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
118,512,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
118,512,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Vairoj Chindamaneepitak No.
3565
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 [Adjusted] |
|
|
|
|
|
|
Cash and Cash
Equivalents |
2,293,269,391 |
3,879,508,669 |
4,155,632,963 |
|
Short-term Investment |
846,900,000 |
338,700,000 |
- |
|
Trade Account Receivable |
2,072,210,389 |
2,172,804,222 |
722,212,507 |
|
Other Receivable |
50,108,950 |
43,829,891 |
30,918,147 |
|
Inventories |
1,245,963,971 |
1,444,286,541 |
1,886,260,911 |
|
Derivative Assets |
33,459,665 |
14,267,335 |
8,445,208 |
|
Refundable Value Added Tax |
130,428,096 |
75,630,874 |
113,582,186 |
|
Other Current Assets
|
8,468,704 |
6,712,403 |
934,633 |
|
Total Current Assets
|
6,680,809,166 |
7,975,739,935 |
6,917,986,555 |
|
|
|
|
|
|
Fixed Assets |
15,678,185,629 |
14,027,733,965 |
14,641,017,258 |
|
Intangible Assets |
941,505,914 |
993,817,559 |
700,568,724 |
|
Leasehold Right - Related
Company |
- |
- |
25,914,657 |
|
Deferred Income Tax Assets |
108,579,578 |
104,623,954 |
68,052,542 |
|
Derivative |
20,476,097 |
- |
- |
|
Other Non-current Assets |
169,804,523 |
207,648,747 |
147,358,226 |
|
Total Assets |
23,599,360,907 |
23,309,564,160 |
22,500,897,962 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 [Adjusted] |
|
|
|
|
|
|
Trade Account Payable |
2,494,662,703 |
2,803,856,039 |
1,458,618,925 |
|
Other Companies |
303,345,290 |
530,283,130 |
240,580,818 |
|
Construction Payable |
418,720,575 |
16,468,305 |
33,645,771 |
|
Current Portion of Long-term Loan from Financial
Institution |
940,274,038 |
425,224,038 |
252,800,000 |
|
Current Portion of Financial
Lease Liabilities |
- |
2,116,660 |
2,600,736 |
|
Derivative |
66,301,427 |
- |
- |
|
Current Portion of Guarantee |
|
|
46,988,072 |
|
Other Current Liabilities |
218,467 |
41,269 |
101,217 |
|
Total Current Liabilities |
4,223,522,500 |
3,777,989,441 |
2,035,335,539 |
|
Long-term Loan from
Financial Institution |
7,192,310,771 |
7,051,364,317 |
8,014,412,394 |
|
Financial Lease Contract
Liabilities |
28,557,701 |
24,304,743 |
3,889,626 |
|
Liabilities from Employee
Benefits |
- |
- |
18,829,467 |
|
Derivatives |
- |
16,255,126 |
84,899,635 |
|
Total Liabilities |
11,444,390,972 |
10,869,913,627 |
10,157,366,661 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value Authorized &
issued share capital
118,512,000 shares
in 2013, 92,520,000 shares
in 2012 & 2011 |
11,851,200,000 |
9,252,000,000 |
9,252,000,000 |
|
Capital Paid |
9,001,000,000 |
8,351,200,000 |
8,351,200,000 |
|
Retained Earning |
|
|
|
|
Appropriated for Statutory
Reserve |
204,422,527 |
- |
- |
|
Unappropriated |
2,901,752,727 |
4,088,450,533 |
3,992,331,301 |
|
Other Components of Equity |
47,794,681 |
- |
- |
|
Total Shareholders' Equity |
12,154,969,935 |
12,439,650,533 |
12,343,531,301 |
|
Total Liabilities &
Shareholders' Equity |
23,599,360,907 |
23,309,564,160 |
22,500,897,962 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 [Adjusted] |
|
|
|
|
|
|
Sales Income |
18,086,567,850 |
16,414,931,124 |
15,708,113,865 |
|
Gain on Exchange Rate |
135,232,142 |
42,000,807 |
85,556,868 |
|
Gain on Derivative Assets |
13,062,468 |
174,606,840 |
26,001,841 |
|
Other Income |
82,187,577 |
179,306,142 |
99,870,771 |
|
Total Revenues |
18,317,050,037 |
16,810,844,913 |
15,919,543,345 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
17,290,418,014 |
15,601,124,729 |
12,436,265,724 |
|
Selling Expenses |
643,320,705 |
471,573,483 |
352,782,988 |
|
Administrative Expenses |
239,925,511 |
245,740,960 |
226,880,172 |
|
Directors’ Remuneration |
- |
- |
216,990,837 |
|
Loss on Exchange
Rate |
127,634,803 |
8,445,208 |
337,473,653 |
|
Financial Cost |
371,981,907 |
424,412,713 |
- |
|
Total Expenses |
18,673,280,940 |
16,751,297,093 |
13,570,393,374 |
|
Loss before Interest
Expenses |
[356,230,903] |
59,547,820 |
2,349,149,971 |
|
Interest Expenses [Reverse Income Tax] |
[3,955,624] |
[36,571,412] |
[137,786,209] |
|
Net Profit / [Loss] |
[352,275,279] |
96,119,232 |
2,486,936,180 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.58 |
2.11 |
3.40 |
|
QUICK RATIO |
TIMES |
1.25 |
1.70 |
2.41 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.15 |
1.17 |
1.07 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.77 |
0.70 |
0.70 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
26.30 |
33.79 |
55.36 |
|
INVENTORY TURNOVER |
TIMES |
13.88 |
10.80 |
6.59 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
41.82 |
48.31 |
16.78 |
|
RECEIVABLES TURNOVER |
TIMES |
8.73 |
7.55 |
21.75 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
52.66 |
65.60 |
42.81 |
|
CASH CONVERSION CYCLE |
DAYS |
15.46 |
16.51 |
29.33 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
95.60 |
95.04 |
79.17 |
|
SELLING & ADMINISTRATION |
% |
4.88 |
4.37 |
3.69 |
|
INTEREST |
% |
2.06 |
2.59 |
- |
|
GROSS PROFIT MARGIN |
% |
5.68 |
7.37 |
22.18 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(1.97) |
0.36 |
14.96 |
|
NET PROFIT MARGIN |
% |
(1.95) |
0.59 |
15.83 |
|
RETURN ON EQUITY |
% |
(2.90) |
0.77 |
20.15 |
|
RETURN ON ASSET |
% |
(1.49) |
0.41 |
11.05 |
|
EARNING PER SHARE |
BAHT |
(3.91) |
1.15 |
29.78 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.48 |
0.47 |
0.45 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.94 |
0.87 |
0.82 |
|
TIME INTEREST EARNED |
TIMES |
(0.96) |
0.14 |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
10.18 |
4.50 |
|
|
OPERATING PROFIT |
% |
(698.23) |
(97.47) |
|
|
NET PROFIT |
% |
(466.50) |
(96.14) |
|
|
FIXED ASSETS |
% |
11.77 |
(4.19) |
|
|
TOTAL ASSETS |
% |
1.24 |
3.59 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 10.18%. Turnover has increased from THB
16,414,931,124.00 in 2012 to THB 18,086,567,850.00 in 2013. While net profit has
decreased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
5.68 |
Deteriorated |
Industrial
Average |
62.38 |
|
Net Profit Margin |
(1.95) |
Deteriorated |
Industrial
Average |
6.26 |
|
Return on Assets |
(1.49) |
Deteriorated |
Industrial
Average |
6.99 |
|
Return on Equity |
(2.90) |
Deteriorated |
Industrial Average |
11.35 |
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 5.68%. 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 -1.95%. When
compared with the industry average, the ratio of the company was lower.
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 -1.49%.
Return on Equity indicates how profitable a company is by comparing its net
income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. When compared with the
industry average, it was lower, the company's figure is -2.9%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.58 |
Satisfactory |
Industrial
Average |
2.09 |
|
Quick Ratio |
1.25 |
|
|
|
|
Cash Conversion Cycle |
15.46 |
|
|
|
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 1.58 times in 2013, decreased from 2.11 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 1.25 times in 2013,
decreased from 1.7 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 16 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.48 |
Acceptable |
Industrial Average |
0.36 |
|
Debt to Equity Ratio |
0.94 |
Impressive |
Industrial
Average |
0.56 |
|
Times Interest Earned |
(0.96) |
Risky |
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 -0.96 lower than 1, so the company is not generating
enough cash from EBIT to meet its interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.48 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 Stable
ACTIVITY : IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.15 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.77 |
Acceptable |
Industrial
Average |
1.12 |
|
Inventory Conversion Period |
26.30 |
|
|
|
|
Inventory Turnover |
13.88 |
Impressive |
Industrial
Average |
4.66 |
|
Receivables Conversion Period |
41.82 |
|
|
|
|
Receivables Turnover |
8.73 |
Impressive |
Industrial
Average |
4.83 |
|
Payables Conversion Period |
52.66 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.73 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 34 days at the
end of 2012 to 26 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 10.8 times in year 2012 to 13.88
times in year 2013.
The company's Total Asset Turnover is calculated as 0.77 times and 0.7
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 Stable
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.33 |
|
|
1 |
Rs.103.43 |
|
Euro |
1 |
Rs.81.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.