MIRA
INFORM REPORT
|
Report Date : |
13.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
VAN LEEUWEN PIPE AND TUBE [THAILAND] LIMITED |
|
|
|
|
Registered Office : |
12Ath Floor, SI Ayutthaya Building, 487/1 SI Ayutthaya Road, Thanon Phayathai, Ratchathewi, Bangkok 10400, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
10.07.1991 |
|
|
|
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Com. Reg. No.: |
0105534064241 |
|
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|
|
Legal Form : |
Private Limited Company |
|
|
|
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Line of Business : |
Subject is engaged
in importing, distributing, and re-exporting every conceivable
steel pipe, hollow section, elbow, fitting
and flange, all according
to various standards |
|
|
|
|
No. of Employees : |
150 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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. 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 and address
VAN LEEUWEN PIPE AND TUBE
[THAILAND] LIMITED
SUMMARY
BUSINESS
ADDRESS : 12Ath FLOOR,
SI AYUTTHAYA BUILDING,
487/1 SI
AYUTTHAYA ROAD, THANON PHAYATHAI,
RATCHATHEWI, BANGKOK
10400, THAILAND
TELEPHONE : [66] 2248-0994-8
FAX :
[66] 2642-5087-8
E-MAIL
ADDRESS : bangkok@vanleeuwen.com.sg
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1991
REGISTRATION
NO. : 0105534064241 [Former : 6422/2534]
CAPITAL REGISTERED : BHT. 200,000,000
CAPITAL PAID-UP : BHT.
100,099,955
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : DECEMBER
31
LEGAL
STATUS : PRIVATE
LIMITED COMPANY
EXECUTIVE : MR. ARNO RUF,
AUSTRIAN
GENERAL MANAGER
NO.
OF STAFF : 150
LINES
OF BUSINESS : PIPES,
TUBES AND RELATED
EQUIPMENTS
MANUFACTURE, IMPORTER
& DISTRIBUTOR
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 July
10, 1991 as
a private limited company
under the name style VAN LEEUWEN
PIPE AND TUBE
[THAILAND] LIMITED by Dutch
Groups, with the
business objective initially
to import and
distribute wide range
of steel pipes,
valves and fittings,
as well as
export and re-export
of the products.
In 2012, its
business was expanded
to produce round
tubes, steel bars
and pipe components
for domestic and
international markets. It
currently employs approximately 150
staff.
The subject is a wholly
owned subsidiary of
Van Leeuwen Pipe
and Tube Asia
Pacific B.V., Netherlands.
The Van Leeuwen Pipe and Tube Group is an
international industrial
distributor of steel pipes, valves and fittings. It
supplies products and services
to companies in a wide range of industrial sectors. At
present, the group
has a network
of 27 locations
throughout Europe, Asia,
Australia and Canada.
The
subject’s registered address
is 12Ath Flr.,
Si Ayutthaya Bldg., Si Ayutthaya Rd., Thanon Phayathai, Ratchathewi, Bangkok 10400, and this is
the subject’s current
operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Johannes Maria
Sassen |
[x] |
Dutch |
48 |
|
Mr. Martinus Bernardus Kerstens |
[x] |
Dutch |
48 |
|
Mr. Arno Ruf |
[-] |
Austrian |
33 |
AUTHORIZED PERSON
1. One of the
mentioned directors [x]
can sign on
behalf of the
subject
with company’s
affixed.
2. In case of
contact to both
private and government
sectors, the mentioned
director [-]
can sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Arno Ruf
is the General
Manager.
He is Austrian
nationality with the
age of 33 years old.
Mr. Wattana Parichatku
is the Sales
Manager.
He is Thai
nationality.
Mrs. Sriporn Piti-Anusorn is
the Account Manager.
She is Thai
nationality.
Mr. Dachchai Fuangfoo
is the Operation & Project Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject core
business is engaged
in importing, distributing,
and re-exporting every conceivable
steel pipe, hollow section, elbow, fitting
and flange, all according
to various standards.
In addition to carbon
steel products it has
specialized sites that
offer complete ranges
of stainless steel
and precision pipes
and tubes, bar steel and components for the most diverse applications.
With a supply range that has great depth
and breadth.
The products include seamless pipe & tube, welded pipe & tube, welded hollow section stanchions, Elbrow welding neck flange, blind flanges, screwed flanges, slip on flanges, flat welding flanges, concentric and eccentric reducers, caps tees saddles malleable fitting, forged fitting, lap joint flanges, socket-weld flange, long welding neck flenzen, O-lets pipe and swage nipples, valves [gate valve/ globe valve/ check valve/ ball valve/ butterfly valve/ plug valve], Pneumatic actuators, hydraulic actuators, electric actuators, control parts, stainless, hollow bar, precision steel tube, welded precision steel tube, mechanical tube for machining, special bar steel, line pipe, hydraulic cylinder tube bar, nickel chromium plate bar, hard chromium plate tube, rod ends, spherical plain bearing, etc.
The subject also
manufactures, distributes and
exports of round
tubes, steel bars
and pipe components.
MAJOR BRANDS
|
Name |
Country |
|
“BEN TENER” |
: Germany |
|
“MANNESMANN” |
: Germany |
|
“KAWAZAKI” |
: Japan |
|
“NKK” |
: Japan |
|
“ULMA” |
: Spain |
|
“KOFCO” |
: Korea |
|
“HYUNDAI” |
: Korea |
|
“SEHA STEEL” |
: Korea |
|
“VAN LEENUWEN” |
: Thailand |
PURCHASE
Most of the products
are imported from Asian countries such as
Singapore, Japan, Korea, Malaysia and others. They are imported
through Van Leeuwen
Pipe and Tube
[Singapore] Pte. Ltd., the rest
is purchased directly
from United Kingdom, Germany, Netherlands,
Canada, Australia and
local suppliers.
MAJOR SUPPLIERS
Van Leeuwen Pipe
and Tube [Singapore]
Pte. Ltd. : Singapore
Van Leeuwen Pipe
and Tube Asia
Pacific BV. : Netherlands
SALES [LOCAL]
90% of its
products is sold
locally to manufacturers, wholesalers
and end-users.
EXPORT [COUNTRIES]
10% of the products, mostly from local
producers are exported
to Singapore, India,
Taiwan, Vietnam, Indonesia,
Korea, Republic of
China, U.S.A. and
Middle East countries.
MAJOR CUSTOMERS
PTT Public Company
Limited : Thailand
Thai Oil Public
Company Limited : Thailand
Shell Company of
Thailand : Thailand
IRPC Public Company
Limited : Thailand
Alloy Metals and
Tubes International Inc. : U.S.A.
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.
SUBSIDIARY AND AFFILIATED
COMPANY
The
subject is not
found to have
any subsidiary or
affiliated company here
in Thailand.
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.
BUSINESS TRANSACTION
Most of the
products are sold
by credit, with
the maximum credit given
at 30-60 days.
The subject is
found to have
late payment from
some customers, but
they can negotiate.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak, Bangkok
10500]
EMPLOYMENT
The subject employs
approximately 150 staff. [office
staff and warehouse workers]
LOCATION DETAILS
The premise is
rented for administrative
office on 12Ath Floor
of a multi storey
building at the
heading address. Premise
is located in
commercial area.
Factory and warehouse
are at Chonburi Industrial
Estate, Bo-Win, 341
Moo 6,
Chonburi Industrial Estate [Bo-Win],
Highway No. 331, K.M. 91,
T. Bo-Win,
A. Sriracha, Chonburi 20230,
Tel : [66] 38 346-087-8,
Fax : [66] 38
345-247.
COMMENT
The buoyant growth of domestic demand has prompted with the increasing
of imported steel products including steel pipe and tube. The increasing demand
from the automotive and construction on
the back of
the growth and
improvement of country’s
economy.
However,
since 2013 decline consumption in domestic market has
caused to decrease
subject’s services, though
the impact of slow spending
and delay of new
investment would pressure
subject’s performance this
year.
FINANCIAL INFORMATION
The capital was
registered at Bht.
3,000,000 divided into
3,000 shares of
Bht. 1,000 each.
The capital was
increased later as
follows:
Bht.
66,265,000 on August
3, 1995
Bht.
200,000,000 on July
29, 2005
The latest registered
capital was increased to Bht. 200,000,000 divided
into 200,000 shares
of Bht. 1,000 each
with a current
capital paid-up at
Bht. 100,099,955.
THE SHAREHOLDERS LISTED
WERE : [as
at April 30,
2013] at Bht.
100,099,955 of capitalization.
|
NAME |
HOLDING |
% |
|
Van Leeuwen Pipe
and Tube Asia
Pacific B.V. Nationality: Dutch Address : Lindtsedijk 20-3336
LE Zwijndrecht, Netherlands |
199,998 |
100.00 |
|
Balsleo International B.V. Nationality: Dutch Address : Lindtsedijk 20-3336
LE Zwijndrecht, Netherlands |
1 |
- |
|
Berekstal B.V. Nationality: Dutch Address : Lindtsedijk 20-3336
LE Zwijndrecht, Netherlands |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - Dutch |
3 |
200,000 |
100.00 |
|
Total |
3 |
200,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Siraporn Ua-anankul
No. 3844
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2012, 2011 & 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
7,384,365 |
8,761,029 |
844,920 |
|
Trade Accounts &
Other Receivable |
73,222,046 |
76,323,816 |
38,159,644 |
|
Inventories |
77,795,254 |
53,551,205 |
55,613,366 |
|
Other Current Assets
|
6,150,553 |
625,789 |
858,270 |
|
|
|
|
|
|
Total Current Assets
|
164,552,218 |
139,261,839 |
95,476,200 |
|
Fixed Assets |
19,004,794 |
18,919,872 |
21,097,579 |
|
Intangible Assets |
734,440 |
838,701 |
907,674 |
|
Deferred Income Tax |
3,449,290 |
6,831,059 |
- |
|
Other Assets |
577,000 |
293,142 |
488,482 |
|
Total Assets |
188,317,742 |
166,144,613 |
117,969,935 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Short-tern Loan from
Financial Institutions |
12,000,000 |
19,000,000 |
25,000,000 |
|
Trade Accounts &
Other Payable |
61,741,890 |
69,795,454 |
24,401,539 |
|
Accrued Income Tax |
5,001,918 |
- |
- |
|
Estimated Short-term Liabilities |
4,032,858 |
- |
- |
|
Accrued Expenses |
- |
- |
4,988,298 |
|
Advance Income from
Goods |
- |
- |
51,809 |
|
Other Current Liabilities |
2,053,295 |
937,235 |
646,974 |
|
|
|
|
|
|
Total Current Liabilities |
84,829,961 |
89,732,689 |
55,088,620 |
|
Reserve for Long-term Employee
Benefit |
1,760,797 |
1,665,807 |
- |
|
Total Liabilities |
86,590,758 |
91,398,496 |
55,088,620 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value Authorized & issued share
capital 200,000 shares |
200,000,000 |
200,000,000 |
200,000,000 |
|
|
|
|
|
|
Capital Paid |
100,099,955 |
100,099,955 |
100,099,955 |
|
Retained Earning Appropriated for
Statutory Reserve |
2,402,555 |
2,402,555 |
2,402,555 |
|
Unappropriated [Deficit] |
[775,526] |
[27,756,393] |
[39,621,195] |
|
Total Shareholders' Equity |
101,726,984 |
74,746,117 |
62,881,315 |
|
Total Liabilities &
Shareholders' Equity |
188,317,742 |
166,144,613 |
117,969,935 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
476,717,779 |
241,233,470 |
202,966,052 |
|
Other Income |
671,633 |
8,285 |
177,536 |
|
Total Revenues |
477,389,412 |
241,241,755 |
203,143,588 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
385,171,768 |
195,082,337 |
175,472,887 |
|
Selling Expenses |
6,732,857 |
6,576,503 |
15,041,644 |
|
Administrative Expenses |
48,361,104 |
32,733,246 |
25,697,872 |
|
Loss on Custom Tax
& Value Added
Tax [reversal] |
- |
- |
[8,578,838] |
|
Total Expenses |
440,265,729 |
234,392,086 |
207,633,565 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost |
37,123,683 |
6,849,669 |
[4,489,977] |
|
Financial Cost |
[686,149] |
[1,815,927] |
[483,713] |
|
|
|
|
|
|
Profit / [Loss] before
Income Tax |
36,437,534 |
5,033,742 |
[4,973,690] |
|
Income Tax |
[9,456,667] |
[3,526,099] |
- |
|
Net Profit / [Loss] |
26,980,867 |
1,507,643 |
[4,973,690] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.94 |
1.55 |
1.73 |
|
QUICK RATIO |
TIMES |
0.95 |
0.95 |
0.71 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
25.08 |
12.75 |
9.62 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.53 |
1.45 |
1.72 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
73.72 |
100.19 |
115.68 |
|
INVENTORY TURNOVER |
TIMES |
4.95 |
3.64 |
3.16 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
56.06 |
115.48 |
68.62 |
|
RECEIVABLES TURNOVER |
TIMES |
6.51 |
3.16 |
5.32 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
58.51 |
130.59 |
50.76 |
|
CASH CONVERSION CYCLE |
DAYS |
71.28 |
85.09 |
133.55 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
80.80 |
80.87 |
86.45 |
|
SELLING & ADMINISTRATION |
% |
11.56 |
16.30 |
20.07 |
|
INTEREST |
% |
0.14 |
0.75 |
0.24 |
|
GROSS PROFIT MARGIN |
% |
19.34 |
19.13 |
13.63 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.79 |
2.84 |
(2.21) |
|
NET PROFIT MARGIN |
% |
5.66 |
0.62 |
(2.45) |
|
RETURN ON EQUITY |
% |
26.52 |
2.02 |
(7.91) |
|
RETURN ON ASSET |
% |
14.33 |
0.91 |
(4.22) |
|
EARNING PER SHARE |
BAHT |
269.54 |
15.06 |
(49.69) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.46 |
0.55 |
0.47 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.85 |
1.22 |
0.88 |
|
TIME INTEREST EARNED |
TIMES |
54.10 |
3.77 |
(9.28) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
97.62 |
18.85 |
|
|
OPERATING PROFIT |
% |
441.98 |
(252.55) |
|
|
NET PROFIT |
% |
1,689.61 |
130.31 |
|
|
FIXED ASSETS |
% |
0.45 |
(10.32) |
|
|
TOTAL ASSETS |
% |
13.35 |
40.84 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 97.62%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
19.34 |
Impressive |
Industrial
Average |
10.75 |
|
Net Profit Margin |
5.66 |
Impressive |
Industrial
Average |
0.85 |
|
Return on Assets |
14.33 |
Impressive |
Industrial
Average |
1.58 |
|
Return on Equity |
26.52 |
Impressive |
Industrial
Average |
4.64 |
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 19.34%. 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 5.66%, 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
14.33%, 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
is 26.52%, 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 |
1.94 |
Impressive |
Industrial Average |
1.34 |
|
Quick Ratio |
0.95 |
|
|
|
|
Cash Conversion Cycle |
71.28 |
|
|
|
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 1.94 times in 2012, increased from 1.55 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 0.95 times in 2012,
same figure as
0.95 times in 2011, by excluding inventory, the company may
have problems meeting current liabilities.
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 72 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.46 |
Impressive |
Industrial
Average |
0.69 |
|
Debt to Equity Ratio |
0.85 |
Impressive |
Industrial
Average |
2.23 |
|
Times Interest Earned |
54.10 |
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 54.11 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 0.46 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
25.08 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
2.53 |
Impressive |
Industrial
Average |
1.85 |
|
Inventory Conversion Period |
73.72 |
|
|
|
|
Inventory Turnover |
4.95 |
Impressive |
Industrial
Average |
4.15 |
|
Receivables Conversion Period |
56.06 |
|
|
|
|
Receivables Turnover |
6.51 |
Impressive |
Industrial
Average |
4.14 |
|
Payables Conversion Period |
58.51 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.51 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 100 days at the
end of 2011 to 74 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 3.64 times in year 2011 to 4.95 times
in year 2012.
The company's Total Asset Turnover is calculated as 2.53 times and 1.45 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 Stable
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.13 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
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.