MIRA
INFORM REPORT
|
Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
BANG TRADING
1992 COMPANY LIMITED |
|
|
|
|
Registered Office : |
4th Floor, Bang Trading |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
09.03.1992 |
|
|
|
|
Com. Reg. No.: |
0105535041822 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Distributor of
Pharmaceutical, Medical and Industrial Products. |
|
|
|
|
No. of Employees : |
92 |
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 : |
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 – 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
BANG TRADING 1992 COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 4th FLOOR,
BANG TRADING GROUP
BUILDING,
999/99 RAMA
9 ROAD, SUANLUANG,
BANGKOK 10250,
THAILAND
TELEPHONE : [66] 2718-3333,
2718-6455-6
FAX :
[66] 2718-3577,
2718-3855
E-MAIL
ADDRESS : info@bangtrading.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1992
REGISTRATION
NO. : 0105535041822 [Former : 4181/2535]
TAX
ID NO. : 3011062739
CAPITAL REGISTERED : BHT. 1,000,000
CAPITAL PAID-UP : BHT.
1,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SURACHAI TEERAWANITSAN, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 92
LINES
OF BUSINESS : PHARMACEUTICAL, MEDICAL
AND INDUSTRIAL PRODUCTS
IMPORTER 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 March 9, 1992
as a private
limited company under
the registered name BANG TRADING
1992 COMPANY LIMITED
by Thai groups, with
business objective to
provide products for
medical, pharmaceutical
industries as well as
laboratory and scientific
purposes. It currently
employs 92 staff.
It is a
member of Bang
Trading Group, the
Thailand’s leading suppliers
of products for
laboratory, medical &
healthcare and other
industries.
The subject’s registered address
is 4th Floor,
Bang Trading Group
Building, 999/99 Rama 9 Rd., Suanluang, Bangkok 10250,
and this
is the subject’s current operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr.
Atipong Arkaleephan |
|
Thai |
80 |
|
Mr.
Thawatchai Tantipoj |
|
Thai |
70 |
|
Mrs.
Somchit Vanapamornpan |
|
Thai |
60 |
|
Mrs. Laksanawadee Kiattanakorn |
|
Thai |
39 |
|
Mr. Pithan
Tantipoj |
|
Thai |
36 |
|
Mr. Thammasak Lortanavanit |
|
Thai |
42 |
|
Ms. Wasunee Jaidee |
|
Thai |
52 |
|
Mr. Surachai Teerawanitsan |
|
Thai |
- |
AUTHORIZED PERSON
Any two of the
above directors can
jointly sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Surachai Teerawanitsan is
the Managing Director.
He is Thai
nationality.
Mrs. Somchit Vanapamornpan is
the Deputy Managing
Director.
She is Thai
nationality with the
age of 60
years old.
Mr. Nathadej Arkaleephan
is the Sales
Manager of BP Division.
He is Thai
nationality with the
age of 43
years old.
Mr. Pithan Tantipoj is
the Sales Manager
of LCA Division.
He is Thai
nationality with the
age of 36
years old.
Mrs. Saowalak Akaramanopaisal is
the Sales Manager
of SIS Division.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activities are
distributor wide range of products for
pharmaceuticals, foods and
cosmetic industries, which can
be divided into
3 main divisions
as follows:
British Pharmaceutical [ BP Division]
The subject focuses on supplying pharmaceutical raw material to pharmaceutical industry. It also provides stock planning and procurement services tailored to the customer requirement. The products included Allimentary system, Cardiovascular & Hematopoietic system, Respiratory system, Neuro-Muscular system, Homones, Antibiotics, and Other Chemotherapeutics and etc.
Laboratory Chemicals
and Apparatus [ LCA Division]
LCA supplies a wide range of laboratory chemicals and apparatus to production lines, government, laboratories, privately-owned companies, hospitals, universities, research organizations, clinics and various industries.
Scientific Instruments
and Supplies [ SIS Division]
SIS is the
distributor of scientific
instruments and supplies
from countries worldwide.
The product includes
water purification system,
conductivity meter, laminar
airflow cabinet, freezers,
furnaces, autoclaves, oven, incubator,
water bath, gas
generator, filtration, mercury
analyzer, capillary rotary
vicometer and etc.
The subject
also provides installation
and maintenance services
of scientific equipment
and instruments.
MAJOR BRAND
“TOKU-E”,
“HELLMA”, “TITAN”, “GE”,
“DECON”, “CLEAN”, “MP BO”,
“PSA”, “KERN”, “ELGA”, “FASTER”,
“KERN”, “KUBOTA”, “GENBAB”,
“NABERTHERM”
PURCHASE
90% of its
products are imported
from United Kingdom,
Germany, Republic of
China, United States
of America, Belgium,
Netherlands, Hong Kong,
Singapore, Taiwan, Italy,
France, Turkey, India
and etc., the
remaining 10% is
purchased from local
suppliers.
MAJOR SUPPLIERS
MP
Biomedicals LLC. : U.S.A.
P S
Analytical Ltd. : U.K.
RS
Biotech Laboratory Equipment
Ltd. : U.K.
Nabertherm
GmbH. : Germany
Kern & Sohn
GmbH. : Germany
Faster Srl. : Italy
Hardy
Diagnostic Ltd. : U.S.A.
Hellma GmbH
& Co. : Germany
Whatman Plc. : U.S.A.
Kubota
Corporation : Japan
Genlab Ltd. : U.K.
Toku-E B.V. : Netherlands
SALES [LOCAL]
100% of its
products is sold
locally to Thai
Government, manufacturers, wholesalers
and end-users.
MAJOR CUSTOMERS
Government and Private
Hospitals and Universities
SUBSIDIARY AND AFFILIATED COMPANIES
Inter Medical Co.,
Ltd.
Business Type: Distributor of
medical instrument
Affintech Co., Ltd.
Business Type: Importer of
hospital lab supplies, purification system
for industrial gas, air
and water including
design and construction
services.
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.
Otherssz
There are no
legal suits filed
against the subject
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.
BANKING
Bangkok Bank Public
Co., Ltd.
[New Petchburi
Branch : 1975 New
Petchburi Rd., Bangkapi,
Huaykwang, Bangkok]
Kasikornbank Public Co., Ltd.
[New Petchburi
Branch : 2416 New Petchburi
Rd., Bangkapi, Huaykwang,
Bangkok]
Siam Commercial Bank
Public Co., Ltd.
[Head Office :
9 Ratchadapisek Rd.,
Ladyao, Jatujak, Bangkok]
EMPLOYMENT
The subject currently
employs 92 staff.
[office and sales
staff]
LOCATION DETAILS
The premise is
owned for administrative office
and showroom at
the heading address
in commercial/residential area.
Warehouse is located
at 59/7 Sukhumvit 77 Road, Prawet, Bangkok 10250.
COMMENT
More
than 20 years of
history and strong
brand awareness, backed
by high customer
recognition that meet
high quality of
products which control
both effectiveness and
visibility. The company
distributes products that
use world class
manufacturing and quality
processes that are
met world standard.
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,000,000 divided into 10,000
shares of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[as at April 30,
2014]
|
NAME |
HOLDING |
% |
|
Ms. Nutthasiri Tantipoj Nationality: Thai Address : 65
Soi Jadsan, Samsennok,
Huaykwang, Bangkok |
1,746 |
17.46 |
|
Ms. Chittiya Arkaleephan Nationality: Thai Address : 36
Ekamai Rd., Klongton,
Klongtoey, Bangkok |
1,140 |
11.40 |
|
Mrs. Chamaphat Sitthi-amnuay Nationality: Thai Address : 36
Ekamai Rd., Klongton,
Klongtoey, Bangkok |
1,140 |
11.40 |
|
Mr. Kajornphan Tantipoj Nationality: Thai Address : 65
Soi Jadsan, Samsennok,
Huaykwang, Bangkok |
1,026 |
10.26 |
|
Ms. Kamolwan Tantipoj Nationality: Thai Address : 65
Soi Jadsan, Samsennok,
Huaykwang, Bangkok |
1,025 |
10.25 |
|
Mr. Ongarj Watcharathanyakorn Nationality: Thai Address : 111/559
Moo 5, Saimai,
Bangkok |
1,000 |
10.00 |
|
Ms. Nithivadee Tantpoj Nationality: Thai Address : 65
Soi Jadsan, Samsennok,
Huaykwang, Bangkok |
760 |
7.60 |
|
Mr. Pithan Tantipoj Nationality: Thai Address : 65
Soi Jadsan, Samsennok,
Huaykwang, Bangkok |
760 |
7.60 |
|
Mr. Peeranat Tantipoj Nationality: Thai Address :
65 Soi Jadsan,
Samsennok, Huaykwang, Bangkok |
760 |
7.60 |
|
Mr. Atipong Arkaleephan Nationality: Thai Address : 36
Ekamai Rd., Klongton,
Klongtoey, Bangkok |
570 |
5.70 |
|
Ms. Varanya Vanapamornpan Nationality: Thai Address : 609
Charoennakorn Rd., Klongtonsai,
Klongsan, Bangkok |
73 |
0.73 |
Total Shareholders : 11
Share Structure
[As at April 30,
2014]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
11 |
10,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
11 |
10,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mrs. Thanhathai Supakasem No. 5394
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
9,179,332.36 |
5,536,311.74 |
12,531,238.64 |
|
Short-term Investment |
3,245,024.13 |
3,192,924.16 |
3,137,551.82 |
|
Trade Accounts & Other
Receivable |
225,291,850.62 |
245,772,551.85 |
175,064,414.81 |
|
Inventories |
81,371,231.17 |
60,018,355.48 |
52,563,403.73 |
|
|
|
|
|
|
Total Current Assets
|
319,087,438.28 |
314,520,143.23 |
243,296,609.00 |
|
|
|
|
|
|
Long-term Investment
|
7,596,665.86 |
10,342,107.22 |
13,698,480.85 |
|
Other Non - current Assets |
330,503.73 |
352,377.72 |
658,960.75 |
|
Total Assets |
327,014,607.87 |
325,214,628.17 |
257,654,050.60 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Accounts & Other
Payable |
78,647,880.70 |
97,617,742.14 |
58,490,903.65 |
|
Accrued Income Tax |
1,775,203.16 |
4,418,499.40 |
3,621,600.50 |
|
|
|
|
|
|
Total Current Liabilities |
80,423,083.86 |
102,036,241.54 |
62,112,504.15 |
|
Total Liabilities |
80,423,083.86 |
102,036,241.54 |
62,112,504.15 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
|
|
|
|
|
Capital Paid |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
Retained Earning Unappropriated |
245,591,524.01 |
222,178,386.63 |
194,541,546.45 |
|
Total Shareholders' Equity |
246,591,524.01 |
223,178,386.63 |
195,541,546.45 |
|
Total Liabilities &
Shareholders' Equity |
327,014,607.87 |
325,214,628.17 |
257,654,050.60 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
494,689,493.12 |
513,921,123.88 |
550,145,605.33 |
|
Other Income |
451,944.57 |
3,879,317.62 |
1,885,608.48 |
|
Total Revenues |
495,141,437.69 |
517,800,441.50 |
552,031,213.81 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
381,676,670.82 |
400,825,036.82 |
440,444,961.43 |
|
Selling Expenses |
41,422,672.32 |
47,104,619.85 |
45,640,660.44 |
|
Administrative Expenses |
34,982,115.22 |
31,798,970.95 |
34,238,040.74 |
|
Other Expenses |
6,038,999.97 |
- |
754,433.77 |
|
Total Expenses |
464,120,458.33 |
479,728,627.62 |
521,078,096.38 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
31,020,979.36 |
38,071,813.88 |
30,953,117.43 |
|
Financial Costs |
[1,463,378.51] |
[1,294,101.23] |
[1,457,812.66] |
|
Profit / [Loss] before Income
Tax |
29,557,600.85 |
36,777,712.65 |
29,495,304.77 |
|
Income Tax |
[6,144,463.47] |
[9,140,872.47] |
[9,328,790.89] |
|
|
|
|
|
|
Net Profit / [Loss] |
23,413,137.38 |
27,636,840.18 |
20,166,513.88 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.97 |
3.08 |
3.92 |
|
QUICK RATIO |
TIMES |
2.96 |
2.49 |
3.07 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
- |
- |
- |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.51 |
1.58 |
2.14 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
77.82 |
54.65 |
43.56 |
|
INVENTORY TURNOVER |
TIMES |
4.69 |
6.68 |
8.38 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
166.23 |
174.55 |
116.15 |
|
RECEIVABLES TURNOVER |
TIMES |
2.20 |
2.09 |
3.14 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
75.21 |
88.89 |
48.47 |
|
CASH CONVERSION CYCLE |
DAYS |
168.83 |
140.32 |
111.24 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
77.15 |
77.99 |
80.06 |
|
SELLING & ADMINISTRATION |
% |
15.44 |
15.35 |
14.52 |
|
INTEREST |
% |
0.30 |
0.25 |
0.26 |
|
GROSS PROFIT MARGIN |
% |
22.94 |
22.76 |
20.28 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
6.27 |
7.41 |
5.63 |
|
NET PROFIT MARGIN |
% |
4.73 |
5.38 |
3.67 |
|
RETURN ON EQUITY |
% |
9.49 |
12.38 |
10.31 |
|
RETURN ON ASSET |
% |
7.16 |
8.50 |
7.83 |
|
EARNING PER SHARE |
BAHT |
2,341.31 |
2,763.68 |
2,016.65 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.25 |
0.31 |
0.24 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.33 |
0.46 |
0.32 |
|
TIME INTEREST EARNED |
TIMES |
21.20 |
29.42 |
21.23 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(3.74) |
(6.58) |
|
|
OPERATING PROFIT |
% |
(18.52) |
23.00 |
|
|
NET PROFIT |
% |
(15.28) |
37.04 |
|
|
FIXED ASSETS |
% |
- |
- |
|
|
TOTAL ASSETS |
% |
0.55 |
26.22 |
|
ANNUAL GROWTH: RISKY
An annual sales growth is -3.74%. Turnover has decreased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
22.94 |
Deteriorated |
Industrial Average |
71.12 |
|
Net Profit Margin |
4.73 |
Impressive |
Industrial Average |
2.40 |
|
Return on Assets |
7.16 |
Impressive |
Industrial Average |
4.81 |
|
Return on Equity |
9.49 |
Acceptable |
Industrial Average |
14.08 |
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 22.94%. 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. Net Profit Margin ratio is 4.73%,
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
7.16%, 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. When compared with the
industry average, it was lower, the company's figure is 9.49%.
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 |
3.97 |
Impressive |
Industrial Average |
1.84 |
|
Quick Ratio |
2.96 |
|
|
|
|
Cash Conversion Cycle |
168.83 |
|
|
|
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 3.97 times in 2013, increase from 3.08 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 2.96 times in 2013,
increase from 2.49 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 169 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.25 |
Impressive |
Industrial Average |
0.86 |
|
Debt to Equity Ratio |
0.33 |
Impressive |
Industrial Average |
2.54 |
|
Times Interest Earned |
21.20 |
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 21.2 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 0.25 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 : RISKY
ACTIVITY RATIO
|
Fixed Assets Turnover |
- |
|
Industrial Average |
- |
|
Total Assets Turnover |
1.51 |
Acceptable |
Industrial Average |
2.61 |
|
Inventory Conversion Period |
77.82 |
|
|
|
|
Inventory Turnover |
4.69 |
Acceptable |
Industrial Average |
6.61 |
|
Receivables Conversion Period |
166.23 |
|
|
|
|
Receivables Turnover |
2.20 |
Deteriorated |
Industrial Average |
5.82 |
|
Payables Conversion Period |
75.21 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.20 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 increased from 55 days at the
end of 2012 to 78 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 6.68 times in year 2012 to 4.69 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.51 times and 1.58
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.60.73 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.81.04 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.