MIRA INFORM REPORT
|
Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SIAM TIN FOOD PRODUCTS COMPANY LIMITED |
|
|
|
|
Registered Office : |
224
Moo 6, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
21.06.1983 |
|
|
|
|
Com. Reg. No.: |
0915526000011 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in manufacturing and
exporting various kinds
of foods and
related products, such as canned
seafood, frozen foods, frozen
seafood, pet foods,
seafood cocktail, mackerel
in tomato sauce |
|
|
|
|
No. of Employees : |
1,200 |
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 : |
Good |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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. 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
SIAM TIN
FOOD PRODUCTS COMPANY
LIMITED
SUMMARY
BUSINESS
ADDRESS : 224
MOO 6, YONTAKANKUMTON ROAD,
KLONGKUD,
MUANG, SATUN 91000,
THAILAND
TELEPHONE : [66] 74
721-871-4, 711-208, 2730-471-4,
2709-100
FAX :
[66] 74
711-840, 74 721-519,
74 721-102-3
E-MAIL
ADDRESS : siamtin@loxinfo.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1983
REGISTRATION
NO. : 0915526000011 [Former : SOR. TOR. 7]
TAX
ID NO. : 3931000132
CAPITAL REGISTERED : BHT. 100,000,000
CAPITAL PAID-UP : BHT.
100,000,000
FISCAL
YEAR CLOSING DATE : JUNE
30
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
OLARN UYAKUL, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 1,200
LINES
OF BUSINESS : CANNED SEAFOOD
MANUFACTURER 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 June
21, 1983 as
a private limited
company under the
name style SIAM
TIN FOOD PRODUCTS
COMPANY LIMITED, by
Thai group, in
order to produce
various kinds of
foods and related
products for export
markets. It currently
employs approximately 1,200 staff.
The subject’s registered
address is 224 Moo 6,
Yontakankumton Rd.,
Klongkud, Muang, Satun
91000, and this
is the company’s
current operation address.
THE BOARD OF
DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mrs. Jariya Karnchanakosit |
[x] |
Thai |
82 |
|
Mr. Puttipong Karnchanakosit |
[x] |
Thai |
54 |
|
Mr. Wuttipong Karnchanakosit |
|
Thai |
50 |
|
Mrs. Uthaivadee Uyakul |
[x] |
Thai |
57 |
|
Mr. Olarn Uyakul |
[x] |
Thai |
57 |
|
Mr. Jomjin Chantarasakul |
|
Thai |
74 |
|
Mr. Chonsinthu Nithikan |
|
Thai |
60 |
AUTHORIZED PERSON
Two of the
above directors [x] can jointly
sign on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Olarn Uyakul
is the Managing
Director.
He is Thai
nationality with the
age of 57
years old.
Mr. Puttipong Karnchanakosit is
the Deputy Managing
Director.
He is Thai
nationality with the
age of 54 years old.
Mrs. Uthaivadee Uyakul
is the Deputy
Managing Director / Account and
Finance Director.
She is Thai
nationality with the
age of 57
years old.
Mr. Somsak Yaomaneerat
is the Factory
Manager.
He is Thai
nationality.
Ms. Raveewan Yingdamnoon is
the Personnel Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and exporting various
kinds of foods
and related products, such as
canned seafood, frozen foods, frozen seafood, pet
foods, seafood cocktail,
mackerel in tomato
sauce and etc.
MAJOR BRANDS
“ROYAL GREENLAND”, “AYAM”,
“SAFCOL”, “ANDAMAN”, “LARZEZA”,
“GOLDEN BELL”, “SILVER
BELL” and etc.
PRODUCTION CAPACITY
5,000 tons per
year
PURCHASE
Most of food
and seafood materials,
food ingredient, food chemicals
and packaging materials
are purchased from
local suppliers and
agents, the remaining
are imported from
Australia, India, Republic
of China and
Germany.
EXPORT [COUNTRY]
100% of
the products is
exported to Canada,
United States of America,
Germany, France, Australia,
Italy, Japan, Taiwan, Malaysia,
Korea, New Zealand, Spain,
Hong Kong, U.K., Singapore
and the country
in Middle East.
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
for the past
two years.
CREDIT
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
L/C or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Hadyai Branch
: Hadyai District,
Songkhla Province]
Kasikornbank Public Co.,
Ltd.
[Hadyai Branch
: Hadyai District,
Songkhla Province]
EMPLOYMENT
The subject employs
approximately 1,200 office
staff and factory
workers.
LOCATION DETAILS
The premise
is owned for
administrative office and
factory on the land area
of 35,200 square
meters at the heading
address. Premise is
located in the
southern region of
Thailand.
Bangkok [Sales] Office is
located at 1575/39
Phaholyothin 15 Rd., Phyathai, Bangkok 10400. Tel.:
[66] 279-6857, 2618-2984
Fax: [66] 279-9407
COMMENT
The subject has built up an enviable reputation for quality and
reliability. The company’s products are widely distributed throughout the
world. Its understanding of the
importance of a flexible market-oriented approach is typified by its whole
range of seafood products, including canned shrimp, baby clam, seafood
cocktail, squid, stuffed squid ring, cuttlefish, octopus and many others.
Over the past three decades, the
company’s determination to develop the quality of canned seafood and frozen
seafood products has continued consistently and earned the company the valuable
customers’ trust, especially from abroad, in various well-known brands.
Subject reported a
strong sales revenue
in 2014 as well
as continue expanding
steadily.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 10,000,000.
The capital was
increased later as
followings:
Bht.
20,000,000 on September
21, 1984
Bht.
40,000,000 on June
5, 1989
Bht.
50,000,000 on November
2, 1990
Bht.
100,000,000 on March
12, 1996
The latest registered
capital was increased
to Bht. 100,000,000
divided into 1,000,000
shares of Bht.
100 each with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
October 28, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
Mr. Uthai Karnchanakosit
Nationality : Thai Address : 93-93/1
Huayyod Rd., Thubthieng,
Muang, Trang |
291,000 |
29.10 |
Mr. Putttipong
Karnchanakosit
Nationality : Thai Address : 93-93/1
Huayyod Rd., Thubthieng,
Muang, Trang |
185,750 |
18.58 |
Mrs. Uthaivadee Uyakul
Nationality : Thai Address : 2/84
Moo 1, Tungsonghong, Laksi,
Bangkok 10210 |
152,500 |
15.25 |
Mrs. Jariya Karnchanakosit
Nationality : Thai Address : 93-93/1
Huayyod Rd., Thubthieng,
Muang,
Trang |
150,000 |
15.00 |
Mr. Wuttipong Karnchanakosit
Nationality : Thai Address : 93-93/1
Huayyod Rd., Thubthieng,
Muang,
Trang Province |
150,000 |
15.00 |
Mr. Olarn Uyakul
Nationality : Thai Address : 1575/39
Phaholyothin 15 Rd.,
Samsennai,
Phyathai, Bangkok 10400 |
37,500 |
3.76 |
Mr. Jomjin Chantarasakul
Nationality : Thai Address : 51/27
Ngamwongwan Rd., Muang,
Nonthaburi |
27,750 |
2.76 |
|
|
|
|
|
Mr. Chonsinthu Nithikan Nationality : Thai Address : 224
Moo 6, Yontakankumton Rd., Muang,
Satun 91000 |
2,500 |
0.25 |
Master Archawin Uyakul
Nationality : Thai Address : 2/84
Moo 1, Tungsonghong, Laksi,
Bangkok 10210 |
1,500 |
0.15 |
Ms. Nichawadee Karnchanakosit
Nationality : Thai Address : 8/3
Moo 2, Kuanlang,
Hadyai,
Songkhla |
1,500 |
0.15 |
Total Shareholders : 10
Share Structure [as
at October 28,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
10 |
1,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
10 |
1,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sophon Permsiriwallop No.
3182
BALANCE SHEET [BAHT]
The latest financial figures published
as at June
30, 2014, 2013 &
2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
56,632,073 |
76,218,108 |
107,039,967 |
|
Short-term Investment - Fixed Deposits |
- |
10,000,000 |
- |
|
Current Portion of Long-term Investment |
- |
5,000,000 |
- |
|
Trade Accounts & Other
Receivable |
245,769,548 |
231,051,723 |
242,973,078 |
|
Inventories |
194,339,672 |
172,898,272 |
191,297,436 |
|
Other Current Assets
|
7,618,468 |
10,800,469 |
5,486,265 |
|
|
|
|
|
|
Total Current Assets
|
504,359,761 |
505,968,572 |
546,796,746 |
|
Cash at Bank pledged as a Collateral |
90,231,405 |
92,986,135 |
88,635,000 |
|
Long-term Investment, Net
|
111,784,615 |
94,775,384 |
34,425,465 |
|
Fixed Assets |
213,817,383 |
200,830,928 |
213,316,980 |
|
Total Assets |
920,193,164 |
894,561,019 |
883,174,191 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft from Financial Institutions |
263 |
2,818,737 |
2,785,914 |
|
Trade Accounts & Other
Payable |
91,521,308 |
118,437,232 |
116,767,502 |
|
Accrued Income Tax |
643,183 |
- |
- |
|
Other Current Liabilities |
3,903,926 |
6,673,864 |
4,935,111 |
|
|
|
|
|
|
Total Current Liabilities |
96,068,680 |
127,929,833 |
124,488,527 |
|
|
|
|
|
|
Provision for Employee Benefits |
23,523,517 |
21,253,513 |
19,000,048 |
|
Total Liabilities |
119,592,197 |
149,183,346 |
143,488,575 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 1,000,000 shares |
100,000,000 |
100,000,000 |
100,000,000 |
|
|
|
|
|
|
Capital Paid |
100,000,000 |
100,000,000 |
100,000,000 |
|
Retained Earnings: Appropriated for Statutory Reserve |
50,000,000 |
50,000,000 |
50,000,000 |
|
Unappropriated |
649,638,967 |
594,695,297 |
589,442,474 |
|
Profits are not Actually
Caused by Changes Value of Investment |
962,000 |
682,376 |
243,142 |
|
Total Shareholders' Equity |
800,600,967 |
745,377,673 |
739,685,616 |
|
Total Liabilities & Shareholders' Equity |
920,193,164 |
594,561,019 |
883,174,191 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
1,336,307,753 |
1,342,477,615 |
1,235,466,621 |
|
Revenue from Sale of Raw Materials and Debris |
10,888,559 |
10,792,163 |
4,040,976 |
|
Gain on Exchange Rate |
831,465 |
1,294,504 |
15,560,585 |
|
Other Income |
7,393,655 |
4,119,097 |
9,044,545 |
|
Total Revenues |
1,355,421,432 |
1,358,683,379 |
1,264,112,727 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,098,825,249 |
1,184,035,263 |
1,089,989,978 |
|
Selling Expenses |
24,489,361 |
28,735,838 |
25,321,386 |
|
Administrative Expenses |
55,804,101 |
49,787,057 |
55,001,224 |
|
Total Expenses |
1,179,118,711 |
1,262,558,158 |
1,170,312,588 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
176,302,721 |
96,125,221 |
93,800,139 |
|
Financial Cost |
[715,868] |
[872,398] |
[664,166] |
|
Profit before Income
Tax |
175,586,853 |
95,252,823 |
93,135,973 |
|
Income Tax |
[643,183] |
- |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
174,943,670 |
95,252,823 |
93,135,973 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
5.25 |
3.96 |
4.39 |
|
QUICK RATIO |
TIMES |
3.15 |
2.52 |
2.81 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
6.25 |
6.68 |
5.79 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.45 |
1.50 |
1.40 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
64.55 |
53.30 |
64.06 |
|
INVENTORY TURNOVER |
TIMES |
5.65 |
6.85 |
5.70 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
67.13 |
62.82 |
71.78 |
|
RECEIVABLES TURNOVER |
TIMES |
5.44 |
5.81 |
5.08 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
30.40 |
36.51 |
39.10 |
|
CASH CONVERSION CYCLE |
DAYS |
101.28 |
79.61 |
96.74 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
82.23 |
88.20 |
88.22 |
|
SELLING & ADMINISTRATION |
% |
6.01 |
5.85 |
6.50 |
|
INTEREST |
% |
0.05 |
0.06 |
0.05 |
|
GROSS PROFIT MARGIN |
% |
19.20 |
13.01 |
14.09 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
13.19 |
7.16 |
7.59 |
|
NET PROFIT MARGIN |
% |
13.09 |
7.10 |
7.54 |
|
RETURN ON EQUITY |
% |
21.85 |
12.78 |
12.59 |
|
RETURN ON ASSET |
% |
19.01 |
10.65 |
10.55 |
|
EARNING PER SHARE |
BAHT |
174.94 |
95.25 |
93.14 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.13 |
0.17 |
0.16 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.15 |
0.20 |
0.19 |
|
TIME INTEREST EARNED |
TIMES |
246.28 |
110.19 |
141.23 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(0.46) |
8.66 |
|
|
OPERATING PROFIT |
% |
83.41 |
2.48 |
|
|
NET PROFIT |
% |
83.66 |
2.27 |
|
|
FIXED ASSETS |
% |
6.47 |
(5.85) |
|
|
TOTAL ASSETS |
% |
2.87 |
1.29 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is -0.46%. Turnover has decreased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
19.20 |
Impressive |
Industrial
Average |
4.10 |
|
Net Profit Margin |
13.09 |
Impressive |
Industrial
Average |
(3.75) |
|
Return on Assets |
19.01 |
Impressive |
Industrial
Average |
(0.22) |
|
Return on Equity |
21.85 |
Impressive |
Industrial
Average |
2.29 |
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 19.2%. 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. The company’s figure is 13.09%, 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
19.01%, 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 21.85%, 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 |
5.25 |
Impressive |
Industrial
Average |
(0.57) |
|
Quick Ratio |
3.15 |
|
|
|
|
Cash Conversion Cycle |
101.28 |
|
|
|
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 5.25 times in 2014, increased from 3.96 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 3.15 times in 2014,
increased from 2.52 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 102 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.13 |
Impressive |
Industrial
Average |
0.62 |
|
Debt to Equity Ratio |
0.15 |
Impressive |
Industrial
Average |
1.52 |
|
Times Interest Earned |
246.28 |
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 246.28 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 0.13 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 |
6.25 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.45 |
Acceptable |
Industrial
Average |
1.99 |
|
Inventory Conversion Period |
64.55 |
|
|
|
|
Inventory Turnover |
5.65 |
Satisfactory |
Industrial
Average |
5.91 |
|
Receivables Conversion Period |
67.13 |
|
|
|
|
Receivables Turnover |
5.44 |
Impressive |
Industrial
Average |
3.26 |
|
Payables Conversion Period |
30.40 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.44 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 53 days at the
end of 2013 to 65 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 6.85 times in year 2013 to 5.65 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.45 times and 1.5
times in 2014 and 2013 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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.32 |
|
|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.78.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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.