MIRA
INFORM REPORT
|
Report Date : |
20.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SCHNEIDER [THAILAND] LIMITED |
|
|
|
|
Registered Office : |
540 Moo 4, Soi 9, Bangpoo Industrial Estate, Sukhumvit Road, T. Praeksa, A. Muang, Samutprakarn 10280, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.02.1989 |
|
|
|
|
Com. Reg. No.: |
0105532010527 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in
manufacturing,
distributing and exporting
wide range of
electric products for
industrial control &
automation and for medium and
low-voltage power distribution systems
|
|
|
|
|
No. of Employees : |
1,000 |
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
SCHNEIDER [THAILAND]
LIMITED
SUMMARY
BUSINESS
ADDRESS : 540
MOO 4, SOI
9, BANGPOO INDUSTRIAL
ESTATE,
SUKHUMVIT ROAD,
T. PRAEKSA, A. MUANG,
SAMUTPRAKARN 10280,
THAILAND
TELEPHONE : [66] 2324-6000
FAX :
[66] 2324-6045
E-MAIL
ADDRESS : customercare.th@schneider-electric.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1989
REGISTRATION
NO. : 0105532010527
TAX
ID NO. : 3101600223
CAPITAL REGISTERED : BHT. 310,571,700
CAPITAL PAID-UP : BHT.
191,778,,000
SHAREHOLDER’S PROPORTION : THAI : 51.00%
FOREIGN :
49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
ANDREA PAGANOTTO, ITALIAN
MANAGING DIRECTOR
NO.
OF STAFF : 1,000
LINES
OF BUSINESS : ELECTRIC PRODUCTS
FOR INDUSTRIAL
CONTROL, AUTOMATION
AND POWER
DISTRIBUTION SYSTEMS
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 February 1, 1989
as a private
limited company under
the originally registered
name “Square D Manufacturing
Limited” by Thai and
foreign groups. On January
11, 1994, its registered
name was changed to “Schneider Manufacturing
[Thailand] Limited”, and
finally changed to SCHNEIDER
[THAILAND] LIMITED on April
30, 1995. Its
business objective is to
manufacture and distribute
wide range of
electric products for
industrial control, automation
and power distribution systems. It
currently employs approximately
1,000 staff.
The
major shareholders are
Square D [Thailand]
Co., Ltd., the
Thai company and
Schneider Electric
Industries SAS., the French
company, with holding
around 51% and 49% of
the subject’s shares
respectively.
The
subject’s registered address is 540 Moo 4, Soi 9, Bangpoo Industrial
Estate, Sukhumvit Road, T. Praeksa, A. Muang, Samutprakarn 10280,
and this is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Yeap Tien Sing
Nelson |
|
Singaporean |
55 |
|
Mr. Kosanovic Zeljko |
|
French |
43 |
|
Ms. Veronique Brigitte Blane |
|
French |
54 |
|
Mr. Sophon Sikkakosol |
|
Thai |
60 |
|
Mr. Andrea Paganotto |
|
Italian |
45 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Andrea Paganotto is
the Managing Director.
He is Italian
nationality with the
age of 45
years old.
Mr. Stuart J. Thorogood is
the Operation Director.
He is British
nationality.
Mr. Sophon Sikkakosol is
the QCA Director.
He is Thai
nationality with the
age of 60
years old.
Mr. Kasabol Bowonsrikarn is the
Service and Energy
Management Director.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting wide range
of electric products
for industrial control
& automation and
for medium and
low-voltage power distribution
systems under its
brands “SCHNEIDER”, “MERLIN
GERIN”, “SQUARE D” and
“TELEMECANIQUE”.
The products
are as follows:
·
Boxes,
cabling & interfaces
·
Building management
system
·
Busway & cable
management
·
Contractors
& protection relays
·
Cooling solutions
·
Data centers
and server rooms
and wiring closets
·
Din rail
modular devices
·
EVlink charging
solutions for electric
vehicles
·
Feeder automation
·
Fuse switches
·
HMI [terminals
and industrial PC]
·
Home control
·
IED user
software
·
Industrial communication
·
Interface, measurement & control relays
·
IT power
distribution
·
IT racks
and accessories
·
IT services
·
Motion
& drives
·
Motor starters
·
MV circuit
breakers & MV contractors
·
MV disconnectors, switches,
switch-disconnections, reclosers
·
MV instrument
transformer
·
MV/LV prefabricated
substations
·
PAC,
PLC & other controllers
·
Panelboards
& switchboards
·
Power
& energy monitoring system
·
Power circuit
breakers & switches
·
Power factor
correction - components & systems
·
Power suppliers & transformers
·
Protection relays
by application
·
Protection relays
by range
·
etc.
PURCHASE
Electric components are
purchased from suppliers
both domestic and overseas,
mainly in France,
U.S.A., Republic of
China and Japan.
MAJOR
SUPPLIER
Schneider Electric SA. : France
SALES
The products are
sold to customers
both local and
overseas, mainly in
France, U.S.A., Singapore,
Malaysia, Indonesia, Japan,
Australia, and the
countries in Europe
and Middle East.
MAJOR CUSTOMERS
Q. Control Engineering Co.,
Ltd. : Thailand
A.P.R. Electric Supply
Co., Ltd. :
Thailand
C.T.T. Group Co.,
Ltd. : Thailand
Quality Trading 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 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 on
negotiated terms.
Exports are against
T/T.
BANKING
Bangkok
Bank Public co.,
Ltd.
Kasikornbank
Public Co., Ltd.
EMPLOYMENT
The
subject employs approximately
1,000 office staff and
factory workers.
LOCATION
DETAILS
The
premise is owned
for administrative office,
factory I and warehouse at the heading
address. Premise is
located in provincial/industrial area.
Other
Factories:
-
544 Moo 4,
Sukhumvit Road, T. Praeksa,
A. Muang, Samutprakarn 10280.
-
117/8
Moo 8, T. Huaysai,
A. Nongkae, Saraburi 18230.
-
165/11-12
Moo 6, T. Noenphra,
A. Muang, Rayong 21150.
Bangkok
office is located
at 13th-15th Floor,
Rungroj Thanakul Building,
44/1
Ratchadapisek Road,
Huaykwang, Bangkok 10310.
Tel :
[66] 2617-5500 Fax :
[66] 2617-5501
COMMENT
The
company manufactures and
distributes electric products
for both local
and international markets.
It uses world class
manufacturing and quality processes
that are both
effective and visible.
More than 100
years of history
and strong brand
awareness, backed by
high customer recognition
that meet electrical
distribution and automation
and control needs
worldwide, the company
has experienced a
strong business growth
for decades and
performance is improving
continually.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 37,500,000 divided
into 375,000 shares
of Bht. 100
each with fully
paid.
The
capital was increased
later as follows:
Bht. 152,180,000
on January 14,
1992
Bht. 310,571,700
on December 25,
1998
The
latest registered capital
was increased to Bht. 310,571,700
divided into 3,105,717
shares of Bht. 100
each, with the
current capital paid-up
at Bht. 191,778,000.
THE
SHAREHOLDERS LISTED WERE
: [as at June 3,
2013] at Bht.
191,778,000 of capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Square D [Thailand]
Co., Ltd. Nationality: Thai Address : 13th - 15th Floor,
Rungroj Thanakul Bldg., 44/1 Ratchadapisek Road,
Huaykwang, Bangkok |
1,583,918 |
51.00 |
|
Schneider Electric Industries
SAS. Nationality: French Address : 35
Rue Joseph Monier
92500 Rueil
Malmaison, France |
1,521,794 |
49.00 |
|
Mr. Andrea Paganotto Nationality: Italian Address : 13th Floor,
Rungroj Thanakul Bldg., 44/1 Ratchadapisek Road,
Huaykwang, Bangkok |
4 |
- |
|
Mr. Peter K. Caldwell Nationality: American Address : Singapore |
1 |
- |
Total Shareholders : 4
Share Structure [as
at June 3,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
1,583,919 |
51.00 |
|
Foreign |
3 |
1,521,798 |
49.00 |
|
Total |
4 |
3,105,717 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Saifon Inkaew No.
4434
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 [Adjusted] |
|
|
|
|
|
|
Cash and Cash Equivalents |
650,396,729 |
101,331,099 |
138,209,584 |
|
Trade Accounts & Other Receivable |
1,822,382,038 |
1,788,069,646 |
1,757,217,238 |
|
Inventories |
798,371,239 |
890,781,863 |
631,598,704 |
|
Other Current Assets
|
15,448,123 |
28,611,204 |
8,542,892 |
|
|
|
|
|
|
Total Current Assets
|
3,286,598,129 |
2,808,793,812 |
2,535,568,418 |
|
Loan and Deferred Interest
from Related Company |
42,244,370 |
42,752,390 |
43,232,253 |
|
Fixed Assets |
1,027,984,817 |
787,076,461 |
716,890,583 |
|
Goodwill |
40,080,000 |
50,100,000 |
60,120,000 |
|
Intangible Assets |
11,364,131 |
13,316,488 |
15,760,765 |
|
Deferred Income Tax |
112,972,685 |
88,145,629 |
122,596,242 |
|
Deposit |
8,788,533 |
8,734,820 |
12,592,795 |
|
Total Assets |
4,530,032,665 |
3,798,919,600 |
3,506,761,056 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 [Adjusted] |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
208,768,321 |
751,451,322 |
616,828,226 |
|
Trade Accounts & Other Payable
|
1,730,633,096 |
1,337,014,590 |
1,268,380,784 |
|
Loan and Deferred to Related Company |
73,161,615 |
71,087,837 |
69,382,314 |
|
Project Cost and
Accrued Expenses |
407,579,347 |
170,084,313 |
172,862,406 |
|
Accrued Income Tax |
182,462,321 |
133,118,548 |
140,175,720 |
|
Reserve for Guarantee |
50,441,000 |
34,665,000 |
29,743,000 |
|
Other Current Liabilities |
86,265,023 |
33,974,707 |
27,652,235 |
|
|
|
|
|
|
Total Current Liabilities |
2,739,310,723 |
2,531,396,317 |
2,325,024,685 |
|
|
|
|
|
|
Reserve for Employee
Benefits |
98,522,710 |
51,194,335 |
45,119,120 |
|
Total Liabilities |
2,837,833,433 |
2,582,590,652 |
2,370,143,805 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, and issued
share capital 3,105,717 shares |
310,571,700 |
310,571,700 |
310,571,700 |
|
|
|
|
|
|
Capital Paid |
191,778,000 |
191,778,000 |
191,778,000 |
|
Retained Earnings: Appropriated for Statutory Reserve |
31,057,170 |
31,057,170 |
31,057,170 |
|
Unappropriated |
1,469,364,062 |
993,493,778 |
913,782,081 |
|
Total Shareholders' Equity |
1,692,199,232 |
1,216,328,948 |
1,136,617,251 |
|
Total Liabilities & Shareholders' Equity |
4,530,032,665 |
3,798,919,600 |
3,506,761,056 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2012 |
2011 |
2010 [Adjusted] |
|
|
|
|
|
|
Sales Income |
7,027,960,615 |
6,595,286,319 |
4,853,699,817 |
|
Service Income |
515,184,192 |
504,901,689 |
561,686,075 |
|
Gain on Exchange Rate |
2,114,728 |
1,969,675 |
1,744,445 |
|
Other Income |
18,456,868 |
19,060,185 |
10,464,629 |
|
Total Revenues |
7,563,716,403 |
7,121,217,868 |
5,427,594,966 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
5,231,583,263 |
5,074,992,226 |
3,631,357,061 |
|
Cost of Services |
337,357,520 |
397,411,108 |
428,103,323 |
|
Selling Expenses |
96,256,723 |
54,404,316 |
72,690,323 |
|
Administrative Expenses |
491,631,802 |
672,436,332 |
601,388,963 |
|
Total Expenses |
6,156,829,308 |
6,199,243,982 |
4,733,539,670 |
|
|
|
|
|
|
Profit before Financial
Expenses & Income
Tax |
1,406,887,095 |
921,973,886 |
694,055,296 |
|
Financial Expenses |
[16,273,887] |
[20,000,077] |
[12,296,029] |
|
Profit before Income Tax |
1,390,613,208 |
901,973,809 |
681,759,267 |
|
Income Tax |
[315,319,489] |
[302,550,374] |
[172,067,529] |
|
|
|
|
|
|
Net Profit / [Loss] |
1,075,293,719 |
599,423,435 |
509,691,738 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.20 |
1.11 |
1.09 |
|
QUICK RATIO |
TIMES |
0.90 |
0.75 |
0.82 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
7.34 |
9.02 |
7.55 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.67 |
1.87 |
1.54 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
52.33 |
59.41 |
56.79 |
|
INVENTORY TURNOVER |
TIMES |
6.98 |
6.14 |
6.43 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
88.18 |
91.92 |
118.44 |
|
RECEIVABLES TURNOVER |
TIMES |
4.14 |
3.97 |
3.08 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
113.43 |
89.18 |
114.04 |
|
CASH CONVERSION CYCLE |
DAYS |
27.08 |
62.16 |
61.18 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
73.83 |
77.07 |
74.96 |
|
SELLING & ADMINISTRATION |
% |
7.79 |
10.24 |
12.45 |
|
INTEREST |
% |
0.22 |
0.28 |
0.23 |
|
GROSS PROFIT MARGIN |
% |
26.44 |
23.22 |
25.26 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
18.65 |
12.99 |
12.82 |
|
NET PROFIT MARGIN |
% |
14.26 |
8.44 |
9.41 |
|
RETURN ON EQUITY |
% |
63.54 |
49.28 |
44.84 |
|
RETURN ON ASSET |
% |
23.74 |
15.78 |
14.53 |
|
EARNING PER SHARE |
BAHT |
560.70 |
312.56 |
265.77 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.63 |
0.68 |
0.68 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.68 |
2.12 |
2.09 |
|
TIME INTEREST EARNED |
TIMES |
86.45 |
46.10 |
56.45 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
6.24 |
31.11 |
|
|
OPERATING PROFIT |
% |
52.60 |
32.84 |
|
|
NET PROFIT |
% |
79.39 |
17.61 |
|
|
FIXED ASSETS |
% |
30.61 |
9.79 |
|
|
TOTAL ASSETS |
% |
19.25 |
8.33 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 6.24%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
26.44 |
Impressive |
Industrial
Average |
4.87 |
|
Net Profit Margin |
14.26 |
Impressive |
Industrial
Average |
(9.31) |
|
Return on Assets |
23.74 |
Impressive |
Industrial
Average |
(9.62) |
|
Return on Equity |
63.54 |
Impressive |
Industrial
Average |
(17.50) |
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 26.44%. 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 14.26%, 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
23.74%, 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 63.54%, 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 |
1.20 |
Satisfactory |
Industrial
Average |
1.41 |
|
Quick Ratio |
0.90 |
|
|
|
|
Cash Conversion Cycle |
27.08 |
|
|
|
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 1.2 times in 2012, increased from 1.11 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 0.9 times in 2012,
increased from 0.75 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 28 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.63 |
Acceptable |
Industrial
Average |
0.47 |
|
Debt to Equity Ratio |
1.68 |
Risky |
Industrial
Average |
0.88 |
|
Times Interest Earned |
86.45 |
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 86.46 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 0.63 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
7.34 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.67 |
Impressive |
Industrial
Average |
1.03 |
|
Inventory Conversion Period |
52.33 |
|
|
|
|
Inventory Turnover |
6.98 |
Impressive |
Industrial
Average |
2.53 |
|
Receivables Conversion Period |
88.18 |
|
|
|
|
Receivables Turnover |
4.14 |
Impressive |
Industrial
Average |
3.44 |
|
Payables Conversion Period |
113.43 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.14 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 59 days at the
end of 2011 to 52 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 6.14 times in year 2011 to 6.98 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.67 times and 1.87
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.61.35 |
|
|
1 |
Rs.100.21 |
|
Euro |
1 |
Rs.83.52 |
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.