MIRA
INFORM REPORT
|
Report Date : |
01.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
KONGKIAT TEXTILE CO.,LTD. |
|
|
|
|
Registered Office : |
19/9 Moo 3, Bualoy, Nongkae, Saraburi 18230, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.09.1993 |
|
|
|
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Com. Reg. No.: |
0105536108874 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in manufacturing and
dyeing service of
top dyed, fancy
mélange yarn, PFD yarn [prepare for
dyed yarn], raw
white effect yarn [RWRW], NEP
yarn, novelty mélange effect yarn, space dyed yarn, stripy effect yarn,
fancy effect yarn,
luminous effect yarn,
elegance & luxury yarn, eco
& natural yarn, cotton
dyed yarn, linens yarn,
triblend yarn |
|
|
|
|
No. of Employees |
400 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
THAILAND ECONOMIC OVERVIEW
With a well-developed infrastructure, a free-enterprise economy,
generally pro-investment policies, and strong export industries, Thailand achieved
steady growth due largely to industrial and agriculture exports - mostly
electronics, agricultural commodities, automobiles and parts, and processed
foods. Unemployment, at less than 1% of the labor force, stands as one of the
lowest levels in the world, which puts upward pressure on wages in some
industries. Thailand also attracts nearly 2.5 million migrant workers from
neighboring countries. The Thai government in 2013 implemented a nation-wide
300 baht ($10) per day minimum wage policy and deployed new tax reforms
designed to lower rates on middle-income earners. The Thai economy has
weathered internal and external economic shocks in recent years. The global
economic recession severely cut Thailand's exports, with most sectors
experiencing double-digit drops. In late 2011 Thailand's recovery was
interrupted by historic flooding in the industrial areas in Bangkok and its
five surrounding provinces, crippling the manufacturing sector. The government
approved flood mitigation projects worth $11.7 billion, which were started in
2012, to prevent similar economic damage, and an additional $75 billion for
infrastructure over the following seven years. This was expected to lead to an
economic upsurge but growth has remained slow, in part due to ongoing political
unrest and resulting uncertainties. Spending on infrastructure will require
re-approval once a new government is seated.
Source : CIA
Company name
KONGKIAT
TEXTILE CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 19/9
MOO 3, BUALOY,
NONGKAE,
SARABURI 18230,
THAILAND
TELEPHONE : [66] 36
726-048
FAX :
[66] 36
726-045
E-MAIL
ADDRESS : sales@kongkiat.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1993
REGISTRATION
NO. : 0105536108874 [Former : [3]
568/2536]
TAX
ID NO. : 3011327937
CAPITAL REGISTERED : BHT. 450,000,000
CAPITAL PAID-UP : BHT.
404,700,000
SHAREHOLDER’S PROPORTION : THAI : 100 %
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. DAMRONG KONGKIATKRAI, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 400
LINES
OF BUSINESS : YARNS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject
was established on
September 22, 1993 as
a private limited
company under the
name style KONGKIAT
TEXTILE CO., LTD., by
Thai group, Kongkiatkrai
family, in order to
manufacture top dyed mélange yarn. It
is one of the largest
spinning factories in
Thailand. It currently employs
approximately 400 staff. The subject has
been awarded the
ISO 9002 certification by SGS
[Thailand], Certificate Number : Q 18142.
The
subject’s registered address
is 19/9 Moo 3,
Bualoy, Nongkae, Saraburi
18230, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Damrong Kongkiatkrai |
|
Thai |
59 |
|
Mr. Adul Kongkiatkrai |
|
Thai |
62 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Damrong Kongkiatkrai is
the Managing Director.
He is Thai
nationality with the
age of 59 years
old.
Mr. Adul Kongkiatkrai is
the Sales Director.
He is Thai
nationality with the
age of 62
years old.
Mr. Samrej Khawpuerk
is the Factory
Manager.
He is Thai
nationality.
Mr. Rungroj Ratwongviroon is
the International Sales
Director.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and dyeing service
of top dyed,
fancy mélange yarn,
PFD yarn [prepare for dyed
yarn], raw white
effect yarn [RWRW], NEP yarn,
novelty mélange effect yarn,
space dyed yarn, stripy effect yarn,
fancy effect yarn,
luminous effect yarn, elegance &
luxury yarn, eco & natural
yarn, cotton dyed
yarn, linens yarn, triblend
yarn and etc., under
customer’s requirement.
MAJOR BRAND
“KONGKIAT”
PRODUCTION CAPACITY
4,800,000 tons/year
PURCHASE
80%
of raw materials
is purchased from
local suppliers, and
the remaining 20%
such as cotton
and chemical are imported
from Germany, Republic of
China, Australia, India,
France, Japan, Malaysia,
Indonesia and Switzerland.
MAJOR
SUPPLIERS
BASF
[Thai] Ltd. : Thailand
Louis
T. Leonowens [Thailand] Ltd. :
Thailand
SALES
[LOCAL]
The
products are supplied
and serviced to a
variety of knitting and
weaving products as
follows:
Knitting :
sportswear, t-shirts, dresses,
gloves, underwear, under
garments
and
socks.
Weaving :
suit, shirts, blouses,
denim, curtain and
flat knitting for
sweater.
DISTRIBUTION
70% of the
products is sold
locally, and 30%
is exported directly
to Vietnam, Republic
of China, India,
Malaysia, Taiwan, Sri
Lanka, Hong Kong, Bangladesh,
Pakistan, U.S.A., Egypt,
Korea and the
country in Europe.
MAJOR CUSTOMERS
Sisic Imp Corp : Egypt
Sun Kook Trading
Co., Ltd. : Korea
Yagi & Co [H.K.] Ltd. : Hong
Kong
Bolan Trading Company
LLC : U.S.A.
World Knitting Textile
Co., Ltd. :
Thailand
Thai Interknit Factory
Co., Ltd. :
Thailand
Lee Viwat Textile
Industry Co., Ltd. : Thailand
Freetex Elastic Fabric
Factory Co., Ltd. : Thailand
Raja Uchino 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 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 T/T.
Exports
are against T/T.
BANKING
Kasikornbank
Public Co., Ltd.
[Head Office : 1 Kasikorn
Lane, Rajburana Rd.,
Rajburana, Bangkok 10140]
Bank
of Ayudhya Public
Co., Ltd.
[Head Office : 1222 Rama 3 Rd.,
Bangpongpang, Yannawa, Bangkok
10120]
[Hinkong Branch : Hinkong, Nongkae,
Saraburi 18230]
EMPLOYMENT
The
subject employs approximately
400 staff [office
staff and factory
workers].
LOCATION
DETAILS
The premise is owned for administrative office, factory and warehouse at
the heading address.
Premise is in
provincial.
Bangkok Office: 23
Soi Ratburana 44, Ratburana Rd., Ratburana, Bangkok 10140.
Tel : [66]
2463-0020-1, 2816-6960, Fax :
[66] 2463-1914, 2464-1527
COMMENT
The
subject was formed in 1993 engaged in manufacturing, distributing and
exporting of dyed
yarn. Subject’s sales
were steadily grown
and had a strong
sales in the
past years. However,
industrial downturn has
resulted to slow
sales in the
previous year as
well as estimated
a slow growth
this year.
FINANCIAL INFORMATION
The
capital was initially
registered at Bht. 2,000,000 divided into 20,000
shares of Bht.
100 each.
The
capital was increased
later as follows:
Bht. 210,000,000
on October 20,
1997
Bht. 299,000,000
on September 9,
1999
Bht. 450,000,000
on February 21,
2002
The
latest registered capital
was increased to Bht. 450,000,000 divided into 4,500,000 shares
of Bht. 100
each, with the
current capital paid-up
at Bht. 404,700,000
or 1,510,000 shares
of Bht. 70
each and 2,990,000
shares of Bht.
100 each.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2014]
at Bht. 404,700,000
of capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Damrong Kongkiatkrai Nationality: Thai Address : 30 Soi
Ratburana 44, Ratburana, Bangkok Paid-up Capital : 792,350 shares @ Bht. 100 and
404,680 shares @ Bht. 70 |
1,197,030 |
26.60 |
|
Mr. Boonchuay Kongkiatkrai Nationality: Thai Address : 208/79 Moo 8,
Rajburana, Bangkok 10140 Paid-up Capital : 792,350 shares @ Bht. 100 and
404,680 shares @ Bht. 70 |
1,197,030 |
26.60 |
|
Mr. Adul Kongkiatkrai Nationality: Thai Address : 38 Soi
Ratburana 44, Ratburana, Bangkok Paid-up Capital : 791,350 shares @ Bht. 100 and
404,680 shares @ Bht. 70 |
1,196,030 |
26.58 |
|
|
|
|
|
Mrs. Ladda Kongkiatkrai Nationality: Thai Address 32 Soi
Ratburana 44, Ratburana, Bangkok Paid-up Capital : 612,950 shares @ Bht. 100 and
295,960 shares @ Bht. 70 |
908,910 |
20.20 |
|
Mrs. Manee Kongkiatkrai Nationality: Thai Address : 133 Moo 6, Suksawad 35
Rd., Ratburana, Bangkok
10140 Paid-up Capital : 1,000
shares @ Bht.
100 |
1,000 |
0.02 |
Total Shareholders : 5
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Shares |
% Shares |
|
|
|
|
|
|
Thai |
5 |
4,500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
5 |
4,500,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sitthichai Chantornsiripas No.
5953
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2013, 2012 &
2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash in hand
& at Bank
|
15,235,129.97 |
20,021,466.49 |
11,659,140.78 |
|
Short-term Investment |
27,598,667.99 |
- |
- |
|
Trade Accounts &
Other Receivable |
92,952,929.93 |
103,834,100.38 |
73,541,533.42 |
|
Inventories |
108,590,616.34 |
127,522,289.82 |
198,751,558.84 |
|
Other Current Assets |
- |
- |
3,644,312.99 |
|
|
|
|
|
|
Total Current Assets
|
244,377,344.23 |
251,377,856.69 |
287,596,546.03 |
|
Fixed Assets |
112,210,696.62 |
128,841,345.55 |
149,858,762.53 |
|
Deferred Income Tax Assets |
1,685,049.90 |
1,317,004.57 |
- |
|
Other Non-current Assets |
82,500.00 |
87,413.94 |
87,413.94 |
|
Total Assets |
358,355,590.75 |
381,623,620.75 |
437,542,722.50 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from
Financial Institution |
19,851,197.06 |
15,728,447.86 |
69,595,257.18 |
|
Trade Accounts &
Other Payable |
21,712,693.78 |
24,921,276.68 |
3,508,932.52 |
|
Current Portion of
Finance Lease Contract Liabilities |
1,309,397.45 |
1,234,764.96 |
1,034,033.12 |
|
Current Portion of
Long-term Loan |
- |
1,404,000.00 |
- |
|
Other Current Liabilities
|
- |
- |
6,317,667.47 |
|
|
|
|
|
|
Total Current Liabilities |
42,873,288.29 |
43,288,489.50 |
80,455,890.29 |
|
Finance Lease Contract
Liabilities - Net |
690,527.82 |
1,999,908.30 |
2,904,237.62 |
|
Long-term Loan |
- |
4,679,444.06 |
- |
|
Employee Benefit Obligation |
4,731,192.00 |
2,639,954.00 |
1,429,748.00 |
|
Other Non-current Liabilities |
238,985.00 |
248,985.00 |
248,985.00 |
|
|
|
|
|
|
Total Liabilities |
48,533,993.11 |
52,856,780.86 |
85,038,860.91 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value Authorized & issued share
capital 4,500,000 shares |
450,000,000.00 |
450,000,000.00 |
450,000,000.00 |
|
|
|
|
|
|
Capital Paid |
404,700,000.00 |
404,700,000.00 |
404,700,000.00 |
|
Retained Earning - Unappropriated [Deficit] |
[94,878,402.36] |
[75,933,160.11] |
[52,196,138.41] |
|
Total Shareholders' Equity |
309,821,597.64 |
328,766,839.89 |
352,503,861.59 |
|
Total Liabilities &
Shareholders' Equity |
358,355,590.75 |
381,623,620.75 |
437,542,722.50 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales & Services
Income |
406,377,187.15 |
439,581,790.93 |
411,291,768.41 |
|
Other Income |
2,699,705.70 |
4,852,115.89 |
1,437,563.47 |
|
Total Revenues |
409,076,892.85 |
444,433,906.82 |
412,729,331.88 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Sales
& Services |
367,883,132.20 |
420,365,226.53 |
355,425,459.44 |
|
Selling Expenses |
15,627,089.10 |
15,047,829.44 |
12,511,851.94 |
|
Administrative Expenses |
43,510,783.16 |
31,421,092.69 |
53,572,719.10 |
|
Total Expenses |
427,021,004.46 |
466,834,148.66 |
421,510,030.48 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost |
[17,944,111.61] |
[22,400,241.84] |
[8,780,698.60] |
|
Financial Cost |
[1,001,130.64] |
[1,336,779.86] |
[1,664,079.58] |
|
|
|
|
|
|
Net Profit / [Loss] |
[18,945,242.25] |
[23,737,021.70] |
[10,444,778.18] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
5.70 |
5.81 |
3.57 |
|
QUICK RATIO |
TIMES |
3.17 |
2.86 |
1.06 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.62 |
3.41 |
2.74 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.13 |
1.15 |
0.94 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
107.74 |
110.73 |
204.11 |
|
INVENTORY TURNOVER |
TIMES |
3.39 |
3.30 |
1.79 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
83.49 |
86.22 |
65.26 |
|
RECEIVABLES TURNOVER |
TIMES |
4.37 |
4.23 |
5.59 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
21.54 |
21.64 |
3.60 |
|
CASH CONVERSION CYCLE |
DAYS |
169.69 |
175.30 |
265.77 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
90.53 |
95.63 |
86.42 |
|
SELLING & ADMINISTRATION |
% |
14.55 |
10.57 |
16.07 |
|
INTEREST |
% |
0.25 |
0.30 |
0.40 |
|
GROSS PROFIT MARGIN |
% |
10.14 |
5.48 |
13.93 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(4.42) |
(5.10) |
(2.13) |
|
NET PROFIT MARGIN |
% |
(4.66) |
(5.40) |
(2.54) |
|
RETURN ON EQUITY |
% |
(6.11) |
(7.22) |
(2.96) |
|
RETURN ON ASSET |
% |
(5.29) |
(6.22) |
(2.39) |
|
EARNING PER SHARE |
BAHT |
(4.68) |
(5.87) |
(2.58) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.14 |
0.14 |
0.19 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.16 |
0.16 |
0.24 |
|
TIME INTEREST EARNED |
TIMES |
(17.92) |
(16.76) |
(5.28) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(7.55) |
6.88 |
|
|
OPERATING PROFIT |
% |
(19.89) |
155.11 |
|
|
NET PROFIT |
% |
20.19 |
(127.26) |
|
|
FIXED ASSETS |
% |
(12.91) |
(14.02) |
|
|
TOTAL ASSETS |
% |
(6.10) |
(12.78) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -7.55%. Turnover has decreased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
10.14 |
Acceptable |
Industrial
Average |
19.11 |
|
Net Profit Margin |
(4.66) |
Deteriorated |
Industrial
Average |
0.38 |
|
Return on Assets |
(5.29) |
Deteriorated |
Industrial
Average |
0.30 |
|
Return on Equity |
(6.11) |
Deteriorated |
Industrial
Average |
0.66 |
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 10.14%. 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 -4.66%.
When compared with the industry average, the ratio of the company was lower.
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. When compared with the
industry average, it was lower, the company's figure is -5.29%.
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. When compared with the
industry average, it was lower, the company's figure is -6.11%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
5.70 |
Impressive |
Industrial Average |
1.68 |
|
Quick Ratio |
3.17 |
|
|
|
|
Cash Conversion Cycle |
169.69 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets
are readily available to pay off its short-term liabilities. The company's figure
is 5.7 times in 2013, decreased from 5.81 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was higher, indicated that company
was an efficient operator in a dominant position within its industry.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 3.17 times in 2013,
increased from 2.86 times, although excluding inventory so the company still
have good short-term financial strength.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 170 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.14 |
Impressive |
Industrial
Average |
0.71 |
|
Debt to Equity Ratio |
0.16 |
Impressive |
Industrial
Average |
1.55 |
|
Times Interest Earned |
(17.92) |
Risky |
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 -17.93 lower than 1, so the company is not generating
enough cash from EBIT to meet its
interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.14 less than 0.5, most of the company's
assets are financed through equity.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.62 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.13 |
Impressive |
Industrial
Average |
1.01 |
|
Inventory Conversion Period |
107.74 |
|
|
|
|
Inventory Turnover |
3.39 |
Impressive |
Industrial
Average |
3.01 |
|
Receivables Conversion Period |
83.49 |
|
|
|
|
Receivables Turnover |
4.37 |
Satisfactory |
Industrial
Average |
4.73 |
|
Payables Conversion Period |
21.54 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.37 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 111 days at the
end of 2012 to 108 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 3.3 times in year 2012 to 3.39 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.13 times and 1.15
times in 2013 and 2012 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.60.09 |
|
|
1 |
Rs.102.33 |
|
Euro |
1 |
Rs.82.01 |
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 alculated 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.