MIRA
INFORM REPORT
|
Report Date : |
24.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
COLOSSAL
INTERNATIONAL CO., LTD. |
|
|
|
|
Registered Office : |
731/38-43 Soi Watchannai,
Ratchadapisek Road, Bangpongpang, Yannawa, Bangkok 10120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
15.11.1991 |
|
|
|
|
Com. Reg. No.: |
0105534108761 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
importer and distributor of various kinds of
industrial chemicals, pharmaceutical chemical
and pigments and
grinding machine, mainly
for paints, plastics,
foods and cosmetic
industries. |
|
|
|
|
No. of Employees |
150 (approximately) |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 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
COLOSSAL INTERNATIONAL CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 731/38-43 SOI
WATCHANNAI, RATCHADAPISEK ROAD,
BANGPONGPANG, YANNAWA, BANGKOK 10120
TELEPHONE : [66] 2683-5823-7,
2683-5706-16
FAX :
[66] 2683-5820-2
E-MAIL
ADDRESS : cclcenter@cclcolossal.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1991
REGISTRATION
NO. : 0105534108761 [Former
: 10875/2534]
TAX
ID NO. : 3011031568
CAPITAL REGISTERED : BHT. 36,000,000
CAPITAL PAID-UP : BHT.
36,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SUCHARIT RANGSIMANTORAN, THAI
PRESIDENT
NO.
OF STAFF : 150
LINES
OF BUSINESS : INDUSTRIAL CHEMICALS
IMPORTER AND
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 November 15, 1991 as
a private limited
company under the
registered name style
COLOSSAL INTERNATIONAL CO.,
LTD., by Thai
groups, with the
business objective to
import and distribute
wide range of industrial
chemicals to domestic
market. It currently
employs approximately 150 staff.
The
subject’s registered address
was initially located
at 69 Soi
Sanchaojed, Charoenkrung Rd.,
Siphya, Bangrak, Bangkok
10500.
On
October 7, 2008, its
registered address was
relocated to 731/38-43
Soi Watchannai, Ratchadapisek Rd., Bangpongpang,
Yannawa, Bangkok 10120, and
this is also
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Chalach Chinthammit |
[x] |
Thai |
45 |
|
Mr. Chalee Chinthammit |
[x] |
Thai |
43 |
|
Mr. Chatree Chinthammit |
[x] |
Thai |
41 |
|
Mr. Sucharit Rangsimantoran |
[+] |
Thai |
67 |
|
Mr. Yong Puttasantitham |
[+] |
Thai |
62 |
|
Mr. Ong-Arj Deeprasertkul |
[+] |
Thai |
62 |
|
Mr. Visith Kuakij |
|
Thai |
67 |
|
Mr. Niwat Poonpirom |
|
Thai |
66 |
|
Mr. Wutthinan Pitaksit |
[x] |
Thai |
39 |
AUTHORIZED PERSON
Anyone of the
above directors [x]
can jointly sign
with anyone of
the directors [+]
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Sucharit Rangsimantoran is
the President.
He is Thai
nationality with the
age of 67
years old.
Mr. Yong Puttasantitham is
the Managing Director.
He is Thai
nationality with the
age of 62
years old.
Mr. Chalach Chinthammit is
the General Manager.
He is Thai
nationality with the
age of 45
years old.
Mr. Ong-Arj Deeprasertkul is
the Marketing and
Sales Director.
He is Thai
nationality with the
age of 62
years old.
BUSINESS OPERATIONS
The
subject’s activities are
importer and distributor
various kinds of industrial
chemicals, pharmaceutical chemical
and pigments and
grinding machine, mainly
for paints, plastics,
foods and cosmetic
industries.
MAJOR
BRAND
“BYK”
IMPORT
[COUNTRIES]
Most
of the products
are imported from
United Kingdom, Germany,
Australia, U.S.A., Japan, Republic
of China, Taiwan,
India, Hong Kong,
Malaysia, Spain and
Singapore, the remaining
is purchased from
local suppliers.
MAJOR SUPPLIERS
BYK Chemic GmbH : Germany
Kikuchi Color &
Chemicals Corporation :
Japan
Eckart GmbH. :
Germany
Mitsubishi Chemical Corporation : Japan
SALES [LOCAL]
100% of its
products is sold
locally to manufacturers
and wholesalers.
MAJOR CUSTOMERS
T.O.A. Paint [Thailand]
Co., Ltd. : Thailand
Jotun [Thailand] Co.,
Ltd. : Thailand
Sigma Paints [Thailand]
Co., Ltd. : Thailand
I.C.I. Paints [Thailand]
Co., Ltd. : Thailand
J.B.P. International Paint
Co., Ltd. : Thailand
Backer Acroma [Thailand]
Co., Ltd. : Thailand
Nippon Paint Co.,
Ltd. : Thailand
Sissons Paints [Thailand]
Co., Ltd. : Thailand
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
Sales are 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 on the
credits term of
30-60 days &
T/T.
BANKING
The Siam Commercial
Bank Public Co.,
Ltd.
[Head Office :
9 Ratchadapisek Rd.,
Ladyao, Jatujak, Bangkok
10900]
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 150 staff.
[office and sales
staff]
LOCATION DETAILS
The premise is
owned for administrative office
and warehouse at the heading
address. Premise is
located in commercial/residential area.
COMMENT
Economic
improvement had resulted to
strong growth of
industrial sector with bright prospect. The
subject has excellent
operating performance in
2012 with an
increase in its
sales revenue and
net profit comparing
to the previous
year’s level. However,
slow industrial production
since the last
quarter of 2013 has
decreased demand of the
products in the
first quarter of 2014.
FINANCIAL INFORMATION
The capital was registered
at Bht. 10 million, divided
into 100,000 shares of
Bht. 100 each.
The capital was increased later
as follows:
Bht. 20
million on September
22, 1995
Bht. 25
million on June
9, 1997
Bht. 30
million on September
4, 1998
Bht. 36
million on September
29, 2009
The latest registered capital was increased
to Bht. 36 million, divided into
360,000 shares of
Bht. 100 each
with fully paid.
MAIN SHAREHOLDERS : [as
at April 26,
2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Sucharit Rangsimantoran Nationality: Thai Address :
626/137 Kanchanapisek Rd.,
Bangpai,
Bangkae, Bangkok |
91,542 |
25.43 |
|
Mr. Chavalit Chinthammit Nationality: Thai Address : 42/2
Sukhumvit 31 Rd.,
Klongtonnua,
Wattana, Bangkok |
50,400 |
14.00 |
|
Mr. Yong Puttasantitham Nationality: Thai Address : 9/219
Moo 4, Anusawaree,
Bangkhen, Bangkok |
42,148 |
11.71 |
|
Mr. Ong-Arj Deeprasertkul Nationality: Thai Address : 3/57
Krungthep-Kreetha 9 Rd.,
Huamark, Bangkapi, Bangkok |
40,416 |
11.23 |
|
Mrs. Nareerat Chinthammit Nationality: Thai Address : 118
Sukhumvit 63 Rd.,
Klongtonnua,
Wattana, Bangkok |
33,000 |
9.17 |
|
Mr. Chalach Chinthammit Nationality: Thai Address : 42/2
Sukhumvit 31 Rd.,
Klongtonnua,
Wattana, Bangkok |
19,750 |
5.48 |
|
Mrs. Arpa Rangsimantoran Nationality: Thai Address : 626
Kanchanapisek Rd., Bangpai,
Bangkae, Bangkok |
15,408 |
4.28 |
|
Mr. Wudhinant Pitaksith Nationality: Thai Address : 222
Sukhumvit 49 Rd.,
Klongtonnua,
Wattana, Bangkok |
15,000 |
4.16 |
|
Mr. Chalee Chinthammit Nationality: Thai Address : 118/1-2
Sukhumvit 63 Rd.,
Klongtonnua, Wattana, Bangkok |
13,550 |
3.76 |
|
Ms. Kannika Chinthammit Nationality: Thai Address : 42/2 Sukhumvit 31
Rd., Klongtonnua,
Wattana, Bangkok |
8,550 |
2.38 |
|
Mr. Chatree Chinthammit Nationality: Thai Address :
42/2 Sukhumvit 31 Rd.,
Klongtonnua,
Wattana, Bangkok |
8,550 |
2.38 |
|
Others |
21,686 |
6.02 |
Total Shareholders : 15
Share Structure [as
at April 26,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
15 |
360,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
15 |
360,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Bandit Sumethcherngprachya No.
0026
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalent |
81,998,710.69 |
68,068,056.24 |
6,106,216.67 |
|
Trade Accounts &
Other Receivable |
578,157,874.01 |
522,945,048.35 |
409,890,066.62 |
|
Inventories |
339,624,763.35 |
446,366,082.19 |
355,331,624.67 |
|
Other Current Assets |
- |
- |
15,587,014.03 |
|
|
|
|
|
|
Total Current Assets
|
999,781,348.05 |
1,037,379,186.78 |
786,914,921.99 |
|
Other Long-term Loan |
125,548,142.20 |
121,376,040.00 |
121,501,158.15 |
|
Fixed Assets |
113,564,437.62 |
121,907,129.17 |
129,976,664.25 |
|
Intangible Assets |
315,914.10 |
472,565.10 |
637,349.10 |
|
Other Non-current Assets |
26,232,888.72 |
27,541,435.05 |
30,849,571.02 |
|
Total Assets |
1,265,442,730.69 |
1,308,676,356.10 |
1,069,879,664.51 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft & Short-term
Loan from Financial Institution |
691,964,353.97 |
788,420,683.43 |
651,194,988.95 |
|
Trade Accounts &
Other Payable |
12,902,670.26 |
12,914,177.31 |
23,954,274.68 |
|
Accrued Income Tax |
11,554,974.17 |
10,394,867.89 |
10,045,631.51 |
|
Other Current Liabilities |
7,617,726.51 |
10,355,723.50 |
11,478.23 |
|
|
|
|
|
|
Total Current Liabilities |
724,039,724.91 |
822,085,452.13 |
685,206,373.37 |
|
|
|
|
|
|
Long-term Loan |
350,697,711.03 |
309,512,072.03 |
241,342,177.03 |
|
Total Liabilities |
1,074,737,435.94 |
1,131,597,524.16 |
926,548,550.40 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 360,000 shares |
36,000,000.00 |
36,000,000.00 |
36,000,000.00 |
|
|
|
|
|
|
Capital Paid |
36,000,000.00 |
36,000,000.00 |
36,000,000.00 |
|
Statutory Reserve |
3,777,920.00 |
3,777,920.00 |
3,777,920.00 |
|
Retained Earning-
Unappropriated |
150,927,374.75 |
137,300,911.94 |
103,553,194.11 |
|
Total Shareholders' Equity |
190,705,294.75 |
177,078,831.94 |
143,331,114.11 |
|
Total Liabilities &
Shareholders' Equity |
1,265,442,730.69 |
1,308,676,356.10 |
1,069,879,664.51 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
1,801,482,724.08 |
1,725,375,744.72 |
1,217,841,026.34 |
|
Other Income |
35,100,343.68 |
18,717,678.04 |
16,992,640.24 |
|
Total Revenues |
1,836,583,067.76 |
1,744,093,422.76 |
1,234,833,666.58 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,461,198,915.15 |
1,365,328,881.42 |
972,198,093.91 |
|
Selling Expenses |
107,502,742.06 |
97,132,316.73 |
73,796,642.91 |
|
Administrative Expenses |
87,848,482.65 |
88,132,915.60 |
72,622,711.29 |
|
Other Expenses |
6,379,895.49 |
12,695,926.02 |
7,783,268.90 |
|
Total Expenses |
1,662,930,035.35 |
1,563,290,039.77 |
1,126,400,717.01 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost &
Income Tax |
173,653,032.41 |
180,803,382.99 |
108,432,949.57 |
|
Financial Cost |
[45,242,144.13] |
[43,934,400.13] |
[27,748,084.50] |
|
Profit / [Loss] before Income
Tax |
128,410,888.28 |
136,868,982.86 |
80,684,865.07 |
|
Income Tax |
[32,865,776.19] |
[46,681,817.00] |
[28,318,387.00] |
|
|
|
|
|
|
Net Profit / [Loss] |
95,545,112.09 |
90,187,165.86 |
52,366,478.07 |
|
Retained Earning, Beginning
of Year |
137,300,911.94 |
103,553,194.11 |
53,113,561.25 |
|
Adjustment Expenses |
[918,649.28] |
1,160,551.97 |
[126,845.21] |
|
Dividend Paid |
[81,000,000.00] |
[57,600,000.00] |
[1,800,000.00] |
|
Retained Earning, End
of Year |
150,927,374.75 |
137,300,911.94 |
103,553,194.11 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.38 |
1.26 |
1.15 |
|
QUICK RATIO |
TIMES |
0.91 |
0.72 |
0.61 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
15.86 |
14.15 |
9.37 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.42 |
1.32 |
1.14 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
84.84 |
119.33 |
133.40 |
|
INVENTORY TURNOVER |
TIMES |
4.30 |
3.06 |
2.74 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
117.14 |
110.63 |
122.85 |
|
RECEIVABLES TURNOVER |
TIMES |
3.12 |
3.30 |
2.97 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
3.22 |
3.45 |
8.99 |
|
CASH CONVERSION CYCLE |
DAYS |
198.75 |
226.50 |
247.26 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
81.11 |
79.13 |
79.83 |
|
SELLING & ADMINISTRATION |
% |
10.84 |
10.74 |
12.02 |
|
INTEREST |
% |
2.51 |
2.55 |
2.28 |
|
GROSS PROFIT MARGIN |
% |
20.84 |
21.95 |
21.57 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
9.64 |
10.48 |
8.90 |
|
NET PROFIT MARGIN |
% |
5.30 |
5.23 |
4.30 |
|
RETURN ON EQUITY |
% |
50.10 |
50.93 |
36.54 |
|
RETURN ON ASSET |
% |
7.55 |
6.89 |
4.89 |
|
EARNING PER SHARE |
BAHT |
265.40 |
250.52 |
145.46 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.85 |
0.86 |
0.87 |
|
DEBT TO EQUITY RATIO |
TIMES |
5.64 |
6.39 |
6.46 |
|
TIME INTEREST EARNED |
TIMES |
3.84 |
4.12 |
3.91 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
4.41 |
41.67 |
|
|
OPERATING PROFIT |
% |
(3.95) |
66.74 |
|
|
NET PROFIT |
% |
5.94 |
72.22 |
|
|
FIXED ASSETS |
% |
(6.84) |
(6.21) |
|
|
TOTAL ASSETS |
% |
(3.30) |
22.32 |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is 4.41%. Turnover has increased from THB
1,725,375,744.72 in 2011 to THB 1,801,482,724.08 in 2012. While net profit has
increased from THB 90,187,165.86 in 2011 to THB 95,545,112.09 in 2012. And
total assets has decreased from THB 1,308,676,356.10 in 2011 to THB
1,265,442,730.69 in 2012.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
20.84 |
Acceptable |
Industrial Average |
34.05 |
|
Net Profit Margin |
5.30 |
Impressive |
Industrial Average |
2.12 |
|
Return on Assets |
7.55 |
Impressive |
Industrial Average |
4.25 |
|
Return on Equity |
50.10 |
Impressive |
Industrial Average |
9.42 |
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 20.84%. 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 5.3%, 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
7.55%, 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 50.1%, 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 : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.38 |
Satisfactory |
Industrial Average |
1.40 |
|
Quick Ratio |
0.91 |
|
|
|
|
Cash Conversion Cycle |
198.75 |
|
|
|
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 1.38 times in 2012, increased from 1.26 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 0.91 times in 2012,
increased from 0.72 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 199 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.85 |
Acceptable |
Industrial Average |
0.61 |
|
Debt to Equity Ratio |
5.64 |
Risky |
Industrial Average |
1.56 |
|
Times Interest Earned |
3.84 |
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 3.84 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 0.85 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 : SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
15.86 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.42 |
Acceptable |
Industrial Average |
2.01 |
|
Inventory Conversion Period |
84.84 |
|
|
|
|
Inventory Turnover |
4.30 |
Acceptable |
Industrial Average |
8.42 |
|
Receivables Conversion Period |
117.14 |
|
|
|
|
Receivables Turnover |
3.12 |
Acceptable |
Industrial Average |
4.61 |
|
Payables Conversion Period |
3.22 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.12 and 3.30 in
2012 and 2011 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate revenue. A lower ratio may indicate
over extension and collection problems. Conversely, a higher ratio may indicate
an overtly stringent policy. In this case, the company's A/R ratio in 2012
decreased from 2011. This would suggest the company had deteriorated in the
management of its debt collections.
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 119 days at the
end of 2011 to 85 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 3.06 times in year 2011 to 4.3 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.42 times and 1.32
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 |
|
UK Pound |
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.