MIRA INFORM REPORT
|
Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
GERMAN-THAI BOILER ENGINEERING CORPORATION LIMITED |
|
|
|
|
Registered Office : |
335/7 Srinakarin Road, Nongbon,
Pravej, Bangkok 10250 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1983 |
|
|
|
|
Com. Reg. No.: |
0105526028835 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Exporter of Boiler Solutions |
|
|
|
|
No. of Employees : |
1,200 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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
GERMAN-THAI BOILER
ENGINEERING CORPORATION LIMITED
SUMMARY
BUSINESS ADDRESS : 335/7
SRINAKARIN ROAD, NONGBON,
PRAVEJ, BANGKOK
10250, THAILAND
TELEPHONE : [66] 2366-0400,
2366-0573-4
FAX : [66] 2366-0399
E-MAIL ADDRESS : info@getabecboiler.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1983
REGISTRATION NO. : 0105526028835
TAX ID NO. : 310251760
CAPITAL REGISTERED : BHT.
115,000,000
CAPITAL PAID-UP : BHT.
115,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SUCHART MONGKOLAREEPONG, THAI
MANAGING DIRECTOR
NO. OF STAFF : 1,200
LINES OF BUSINESS : BOILER SOLUTIONS
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH GOOD PERFORMANCE
HISTORY
The subject was
established on July
13, 1983 as
a private limited
company under the
registered name GERMAN-THAI
BOILER ENGINEERING CORPORATION
LIMITED, by Thai groups, with
the business objective
to manufacture and
distribute complete range
of boiler solutions
for both domestic
and international markets.
It currently employs
approximately 1,200 staff.
The subject’s registered
address is 335/7 Srinakarin
Road, Nongbon, Pravej,
Bangkok 10250, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Suchart Mongkolareepong |
[x] |
Thai |
62 |
|
Mrs. Nalin Mongkolareepong |
|
Thai |
61 |
|
Ms. Surang Mongkolareepong |
|
Thai |
53 |
|
Mr. Treechai Laohateeranon |
|
Thai |
63 |
AUTHORIZED PERSON
Only the mentioned
director [x] can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Suchart Mongkolareepong is
the Managing Director.
He is Thai
nationality with the
age of 62
years old.
Mr. Andreas Teichmann is
the Technical Manager.
He is German
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, distributing
and exporting wide
range of boiler
solutions, such as heat recovery
boiler, water tube
boiler, thermal oil
boiler, quick steam boiler, biomass
boiler, hot water
boiler and etc., under
its own brand
“GETABEC”.
PURCHASE
Raw materials and
accessories such as
valves, pumps, meters
and etc., are
purchased from suppliers
both domestic and
overseas, mainly in
Belgium, Germany, U.S.A.,
Japan, Republic of
China, Taiwan and
United Kingdom.
MAJOR SUPPLIERS
Vyncke N.V. : Belgium
Loos International GmbH. : Germany
SALES
Most of the
products are sold
locally to manufacturers
and end-users, the
remaining is exported
to Vietnam.
RELATED AND
AFFILIATED COMPANIES
German Thai Boiler
Manufacturing Co., Ltd.
Business Type :
Manufacturer of boilers
Getabec Boiler Service
Co., Ltd.
Business Type :
Installation service of
boilers
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
according for the
past two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The subject currently
employs approximately 1,200
staff.
LOCATION DETAILS
The premise is
owned for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Branches and Factories:
609 Moo 17,
Teparak Road, Bangsaothong, Samutprakarn
10540
Tel. 2705-1400-4, Fax.
2705-6812
1/27 Moo 5, T.
Nadee, A. Muang, Samutsakorn
74000
19 Chotewithayakul 4 Road,
T. Hadyai, A. Hadyai,
Songkhla 90110
413/13 Mitraparp Road,
T. Pakpriew, A. Muang, Saraburi
18000
459/6 Moo 7, T. Samorkhae,
A. Muang, Pisanulok 65000
32/510 Moo 3, T. Noenphra,
A. Muang, Rayong 21000
379 Moo 6,
Soi 8, Nikom
Sai 13 Road, T. Pananikom,
A. Nikompattana, Rayong 21180.
COMMENT
The subject has
engineers and technicians for three decades experience in boiler
solutions. The high performance and
capability has turned the subject into the frontline of the industry for decades.
The subject also maintains its customer base at the certain level as
well as the new investment and expansion in the domestic industries have prompt
the subject moving into evolution spearheaded in acquiring
the larger area of its services in
the local industries.
Its business has
gradually improved in
the past several years.
FINANCIAL INFORMATION
The capital was
registered at Bht.
10,000,000 divided into
100,000 shares of
Bht. 100 each
with fully paid.
The capital was
increased later as
follows:
Bht. 110,000,000
on October 16,
2008
Bht. 115,000,000
on December 13,
2010
The latest registered
capital was increased
to Bht. 115,000,000 divided
into 11,500,000 shares
of Bht. 10 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE
[as at April
30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Suchart Mongkolareepong Nationality: Thai Address : 192
Sathupradit Road, Thungwatdon,
Sathorn, Bangkok |
9,199,995 |
80.00 |
|
Mrs. Nalin Mongkolareepong Nationality: Thai Address : 192
Sathupradit Road, Thungwatdon, Sathorn, Bangkok |
2,300,000 |
20.00 |
|
Mr. Chalad Na
Ranong Nationality: Thai Address : 436
Soi Paisal, Huaykwang,
Bangkok |
1 |
- |
|
Mr. Sutthichai Supakkul Nationality: Thai Address : 253
Moo 4, T. Wangnua,
A. Wangnua, Lampang |
1 |
- |
|
Mr. Treechai Laohateeranon Nationality: Thai Address : 2826/255
Charansanitwong Road,
Bangplad, Bangkok |
1 |
- |
|
Mr. Prasarn Chitprathak Nationality: Thai Address : 29/29
Charansanitwong Road, Thaphra,
Bangkokyai, Bangkok |
1 |
- |
|
Mr. Surat Mongkolareepong Nationality: Thai Address : 192
Sathupradit Road, Thungwatdon, Sathorn, Bangkok |
1 |
- |
Total Shareholders : 7
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
11,500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
11,500,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Wichai Rujitanont No.
4054
BALANCE
SHEET [BAHT]
The latest
financial figures published
for December 31,
2012, 2011 &
2010 were:
ASSETS
|
Current Assets |
2012 |
2011 [Adjusted] |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
16,118,728.80 |
8,785,534.65 |
795,116.59 |
|
Trade Accounts &
Other Receivable |
140,860,689.00 |
171,994,033.05 |
133,839,473.68 |
|
Value Services not
Charged |
93,096,000.41 |
25,269,574.86 |
36,981,573.11 |
|
Advances and Short-term
Loans to Related Companies |
5,251,500.00 |
110,237,500.00 |
84,396,944.23 |
|
Inventories |
81,674,264.91 |
99,657,340.00 |
54,370,284.84 |
|
|
|
|
|
|
Total Current Assets
|
337,001,183.12 |
415,943,982.56 |
310,383,392.45 |
|
|
|
|
|
|
Cash at Bank under Commitment |
44,396,202.44 |
32,063,013.47 |
16,859,234.52 |
|
Investment in Subsidiaries |
44,999,790.00 |
51,599,784.50 |
51,599,784.50 |
|
Fixed Assets |
135,227,704.93 |
70,519,688.19 |
27,545,210.77 |
|
Land for Future Projects |
12,600,000.00 |
- |
- |
|
Intangible Assets |
800,000.00 |
320,000.00 |
- |
|
Other Non-current Assets |
3,138,584.79 |
2,974,119.01 |
1,106,164.01 |
|
Total Assets |
578,163,465.28 |
573,420,587.73 |
407,493,786.25 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 [Adjusted] |
2010 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial Institution |
31,751,103.38 |
41,259,867.71 |
45,969,993.31 |
|
Trade Accounts & Other Payable |
103,380,413.79 |
178,898,363.37 |
88,369,057.76 |
|
Advanced and Short-term Loan
from Person and Related Company |
81,853,522.03 |
68,573,694.85 |
66,556,859.87 |
|
Current Portion of
Financial Lease Contract Liabilities |
2,957,961.55 |
- |
91,621.73 |
|
Current Portion of
Long-term Loan from Financial Institutions |
5,304,000.00 |
2,764,000.00 |
- |
|
Accrued Income Tax |
10,000,750.70 |
13,925,188.66 |
1,543,790.31 |
|
Advances from Customer |
59,711,203.04 |
75,232,079.77 |
24,777,831.21 |
|
Other Current Liabilities |
- |
3,745,000.00 |
39,590,000.00 |
|
|
|
|
|
|
Total Current Liabilities |
294,958,954.49 |
384,398,194.36 |
266,899,154.19 |
|
Financial Lease Contract Liabilities, Net |
12,409,071.56 |
- |
- |
|
Long-term Loans from Financial Institutions, net
|
19,199,410.31 |
4,028,467.67 |
- |
|
Obligation for Employee
Benefits |
10,450,080.00 |
8,834,334.00 |
7,550,715.00 |
|
Total Liabilities |
337,017,516.36 |
397,260,996.03 |
274,449,869.19 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 11,500,000 shares |
115,000,000.00 |
115,000,000.00 |
115,000,000.00 |
|
|
|
|
|
|
Capital Paid |
115,000,000.00 |
115,000,000.00 |
115,000,000.00 |
|
Retained Earnings Appropriated Statutory Reserve |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
Unappropriated |
125,145,948.92 |
60,159,591.70 |
17,043,917.06 |
|
Total Shareholders' Equity |
241,145,948.92 |
176,159,591.70 |
133,043,917.06 |
|
Total Liabilities &
Shareholders' Equity |
578,163,465.28 |
573,420,587.73 |
407,493,786.25 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 [Adjusted] |
2010 |
|
|
|
|
|
|
Sales & Services Income |
876,393,672.99 |
762,113,122.03 |
415,727,158.45 |
|
Other Income |
5,223,380.77 |
2,410,082.21 |
11,710,281.26 |
|
Total Revenues |
881,617,053.76 |
764,523,204.24 |
427,437,439.71 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
680,622,664.91 |
593,867,835.91 |
292,927,201.53 |
|
Selling and Administrative Expenses |
111,559,840.80 |
104,334,931.77 |
110,902,491.73 |
|
Total Expenses |
792,182,505.71 |
698,202,767.68 |
403,829,693.26 |
|
|
|
|
|
|
Profit before Financial
Cost & Income Tax |
89,434,548.05 |
66,320,436.56 |
23,607,746.45 |
|
Financial Cost |
[3,473,716.52] |
[2,645,088.32] |
[3,314,628.81] |
|
Profit before Income Tax |
85,960,831.53 |
63,675,348.24 |
20,293,117.64 |
|
Income Tax |
[20,974,474.31] |
[20,559,673.60] |
[5,293,251.62] |
|
Net Profit / [Loss] |
64,986,357.22 |
43,115,674.64 |
14,999,866.02 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.14 |
1.08 |
1.16 |
|
QUICK RATIO |
TIMES |
0.87 |
0.82 |
0.96 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
6.48 |
10.81 |
15.09 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.52 |
1.33 |
1.02 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
43.80 |
61.25 |
67.75 |
|
INVENTORY TURNOVER |
TIMES |
8.33 |
5.96 |
5.39 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
58.67 |
82.37 |
117.51 |
|
RECEIVABLES TURNOVER |
TIMES |
6.22 |
4.43 |
3.11 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
55.44 |
109.95 |
110.11 |
|
CASH CONVERSION CYCLE |
DAYS |
47.03 |
33.67 |
75.14 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
77.66 |
77.92 |
70.46 |
|
SELLING & ADMINISTRATION |
% |
12.73 |
13.69 |
26.68 |
|
INTEREST |
% |
0.40 |
0.35 |
0.80 |
|
GROSS PROFIT MARGIN |
% |
22.93 |
22.39 |
32.36 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
10.20 |
8.70 |
5.68 |
|
NET PROFIT MARGIN |
% |
7.42 |
5.66 |
3.61 |
|
RETURN ON EQUITY |
% |
26.95 |
24.48 |
11.27 |
|
RETURN ON ASSET |
% |
11.24 |
7.52 |
3.68 |
|
EARNING PER SHARE |
BAHT |
5.65 |
3.75 |
1.30 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.58 |
0.69 |
0.67 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.40 |
2.26 |
2.06 |
|
TIME INTEREST EARNED |
TIMES |
25.75 |
25.07 |
7.12 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
15.00 |
83.32 |
|
|
OPERATING PROFIT |
% |
34.85 |
180.93 |
|
|
NET PROFIT |
% |
50.73 |
187.44 |
|
|
FIXED ASSETS |
% |
91.76 |
156.01 |
|
|
TOTAL ASSETS |
% |
0.83 |
40.72 |
|
ANNUAL
GROWTH : EXCELLENT
An annual sales growth is 15%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
22.93 |
Deteriorated |
Industrial Average |
56.50 |
|
Net Profit Margin |
7.42 |
Impressive |
Industrial Average |
2.09 |
|
Return on Assets |
11.24 |
Impressive |
Industrial Average |
4.16 |
|
Return on Equity |
26.95 |
Impressive |
Industrial Average |
12.26 |
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 22.93%. 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 7.42%, 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 11.24%, 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 26.95%, 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 |
1.14 |
Satisfactory |
Industrial Average |
1.40 |
|
Quick Ratio |
0.87 |
|
|
|
|
Cash Conversion Cycle |
47.03 |
|
|
|
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 1.14 times in 2012, increased from 1.08 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 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 0.87 times in 2012,
increased from 0.82 times, 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 48 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.58 |
Impressive |
Industrial Average |
0.66 |
|
Debt to Equity Ratio |
1.40 |
Satisfactory |
Industrial Average |
1.95 |
|
Times Interest Earned |
25.75 |
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 25.75 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 0.58 greater than 0.5, most of the
company's assets are financed through debt.
Trend of the average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
6.48 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.52 |
Satisfactory |
Industrial Average |
1.99 |
|
Inventory Conversion Period |
43.80 |
|
|
|
|
Inventory Turnover |
8.33 |
Impressive |
Industrial Average |
4.91 |
|
Receivables Conversion Period |
58.67 |
|
|
|
|
Receivables Turnover |
6.22 |
Impressive |
Industrial Average |
4.46 |
|
Payables Conversion Period |
55.44 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.22 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 61 days at the
end of 2011 to 44 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 5.96 times in year 2011 to 8.33 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.52 times and 1.33
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.62.16 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.