MIRA
INFORM REPORT
|
Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASSOCIATION OF 3 CO., LTD. |
|
|
|
|
Registered Office : |
40/4 Moo 5, Soi 82, Rama II Road, Samaedam, Bangkhunthien, Bangkok 10150 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
1993 |
|
|
|
|
Com. Reg. No.: |
0105536055690 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer and Distributor of Environmental Protection
Machinery and Equipment |
|
|
|
|
No. of Employees : |
50 |
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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
ASSOCIATION OF 3
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 40/4 MOO 5,
SOI 82, RAMA
II ROAD,
SAMAEDAM,
BANGKHUNTHIEN,
BANGKOK
10150, THAILAND
TELEPHONE : [66] 2867-3270-1
FAX : [66] 2452-6038
E-MAIL ADDRESS : sale@a3-environmental.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1993
REGISTRATION NO. : 0105536055690
TAX ID NO. : 3011268308
CAPITAL REGISTERED : BHT.
70,000,000
CAPITAL PAID-UP : BHT.
70,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. THEPTHAI
UDOMCHANYA, THAI
MANAGING DIRECTOR
NO. OF STAFF : 50
LINES OF BUSINESS : ENVIRONMENTAL PROTECTION
MACHINERY
AND EQUIPMENT
MANUFACTURER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH FAIR PERFORMANCE
HISTORY
The subject was
established on May 13,
1993 as a
private limited company
under the name
style ASSOCIATION OF 3 CO.,
LTD., by Thai
groups, with the
business objective to
manufacture and distribute
various kinds of
environmental protection machinery
and equipment. It
currently employs approximately
50 staff.
The subject’s registered address
is 40/4 Moo 5, Soi 82,
Rama II Rd.,
Samaedam, Bangkhunthien, Bangkok 10150,
and this is the
subject’s current operation
address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Thepthai Udomchanya |
|
Thai |
52 |
|
Mr. Vithawas Hutamekalin |
|
Thai |
54 |
AUTHORIZED PERSON
Both of the above directors jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Thepthai Udomchanya is
the Managing Director.
He is Thai
nationality with the
age of 52
years old.
Mr. Vithawas Hutamekalin is
the General Manager.
He is Thai
nationality with the
age of 54
years old.
Ms. Chorthip Saesalub is the Sales
Manager.
She is Thai
nationality.
Mr. Chatnarong Yolsawat is
the Senior Engineering
Manager.
He is Thai
nationality.
Mr. Dave Smith is
the Project Manager.
He is American
nationality.
BUSINESS OPERATIONS
The subject is engaged in
manufacturing, assembling and
distributing variety of
machinery and equipment
for environment protection, including water & waste water
treatment system and
solid waste system,
as well as
providing after sales
services. The products
are as follows:
Waste water treatment:
fine screen, coarse screen,
air diffuser, dissolved
air floatation, circular
clarifier, regtangular clarifier,
shaftless screw, traveling
bridge and etc.
Solid waste: trommel
screen, bag opener,
magnetic separator, hand
sorting, conveyor belt,
bio shredder, windrow
turner, biogas plant
equipment, compost plant
equipment and etc.
MAJOR BRANDS
“TIM ENVIPRO”, “HI
DENSE”, “MIX & MOVE” and
etc.
IMPORT
Most of the
products are imported
from Denmark, United States
of America, Germany,
United Kingdom, Taiwan, Republic
of China, India,
Malaysia and Japan.
MAJOR SUPPLIER
Tim Envipro A/S : Denmark
SALES
100% of the products
is sold locally
to end-users both
private company and
government sectors.
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
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.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 50 staff.
LOCATION DETAILS
The premise is
owned for administrative office and
factory I at the heading
address. Premise is
located in industrial
area.
Factory II is
located at 70/320 Moo
1, T. Khaokansong, A. Sriracha,
Chonburi 20110.
COMMENT
Subject was formed in 1993 as a
manufacturer and distributor of machinery and
equipment related to
environment protection. Most of
the products and
services are for
industrial users. Subject
reported a moderate sales
in 2013. Industrial
downturn has resulted to
slow growth in
various industries including
the subject’s business.
FINANCIAL INFORMATION
The capital was
registered at Bht. 2,000,000 divided into
20,000 shares of
Bht. 100 each.
The capital was
increased later as
following:
Bht. 10,000,000
on February
20, 1995
Bht. 14,000,000
on May
13, 2002
Bht. 17,000,000
on December 11,
2003
Bht. 25,000,000
on November 14,
2007
Bht. 30,000,000
on February 7,
2008
Bht. 45,000,000
on December 24,
2010
Bht. 73,000,000
on March 18,
2013
On July 24,
2013, the registered
capital was decreased
to Bht. 70,000,000
divided into 700,000
shares of Bht.
100 each with
fully paid.
MAIN SHAREHOLDERS
[as at April
30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Thepthai Udomchanya Nationality: Thai Address : 35
St. Louis 1 Rd.,
Yannawa, Sathorn,
Bangkok |
369,764 |
52.82 |
|
Mr. Vithawas Hutamekalin Nationality: Thai Address : 45/83
Moo 5, Samwatawan-ok,
Klongsamwa, Bangkok |
293,374 |
41.91 |
|
Ms. Sukjai Udomchanya Nationality: Thai Address : 35
St. Louis 1 Rd.,
Yannawa, Sathorn,
Bangkok |
8,754 |
1.25 |
|
Mr. Ratchapol Thongsathit Nationality: Thai Address : 47/1
Moo 1, Jomthong
Rd., Jomthong, Bangkok |
8,239 |
1.18 |
|
Ms. Pilailuck Kalayanapradit Nationality: Thai Address : 110
Sukhumvit 64 Rd.,
Bangchak,
Prakanong, Bangkok |
5,502 |
0.79 |
|
Mr. Vinyu Pamee Nationality: Thai Address : 169
Moo 17, T. Fangdaeng, A. Naklang,
Nongbualamphu |
3,095 |
0.44 |
|
Mr. Chart Ruabruam Nationality: Thai Address : 41/37
Moo 5, Samaedam,
Bangkhunthien, Bangkok |
3,095 |
0.44 |
|
Mr. Pongsith Jirawassakul Nationality: Thai Address : 89
Soi St. Louis 1,
Yannawa, Sathorn, Bangkok |
1,377 |
0.20 |
|
Others |
6,800 |
0.97 |
Total Shareholders : 21
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
21 |
700,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
21 |
700,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Ms. Naruemol Chantayingyong No.
6976
BALANCE SHEET [BAHT]
The latest financial
figures published for
December 31, 2013,
2012 & 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
1,227,239.50 |
395,844.10 |
3,984,327.61 |
|
Short-term Investment |
- |
- |
8,000,000.00 |
|
Trade Accounts & Other Receivable |
|
|
|
|
Trade Accounts
Receivable |
11,555,940.97 |
10,339,958.00 |
13,777,197.34 |
|
Deferred Interest |
25,048.08 |
40,185.43 |
- |
|
Other Receivable |
378,757.07 |
257,939.52 |
207,940.91 |
|
Inventories |
30,895,041.57 |
21,656,999.31 |
17,321,574.90 |
|
Deposit for Purchase Goods |
2,870,951.97 |
4,687,139.31 |
2,406,287.23 |
|
Other Current Assets
|
1,702,778.73 |
1,063,867.61 |
1,090,902.27 |
|
|
|
|
|
|
Total Current Assets
|
48,655,757.89 |
38,441,933.28 |
46,788,230.26 |
|
Cash at Bank pledged as
a Collateral |
7,970,860.81 |
8,115,894.03 |
2,019,649.81 |
|
Fixed Assets |
38,477,012.76 |
16,234,607.94 |
14,683,794.06 |
|
Intangible Assets |
139,511.15 |
378,486.15 |
617,461.15 |
|
Other Non-current Assets |
181,548.60 |
173,548.60 |
190,748.60 |
|
Total Assets |
95,424,691.21 |
63,344,470.00 |
64,299,883.88 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Short-term Loan from Financial Institutions |
10,000,000.00 |
- |
- |
|
Trade Accounts & Other Payable |
|
|
|
|
Trade Accounts
Payable |
5,721,034.71 |
6,963,121.27 |
6,146,861.77 |
|
Other Payable |
40,090.00 |
377,426.00 |
5,000.00 |
|
Accrued Expenses |
764,817.75 |
625,156.06 |
348,809.20 |
|
Current Portion of Long-term
Lease Contract Liabilities |
- |
- |
20,732.85 |
|
Current Portion of Long-term
Loans |
- |
164,129.93 |
353,929.90 |
|
Accrued Income Tax |
92,786.47 |
4,986.88 |
542,440.14 |
|
Pre-received Deposit |
6,672,014.12 |
2,244,843.69 |
4,023,192.00 |
|
Accrued Dividend |
- |
300,000.00 |
300,000.00 |
|
Other Current Liabilities |
243,028.77 |
274,103.92 |
415,168.90 |
|
|
|
|
|
|
Total Current Liabilities |
23,533,771.82 |
10,953,767.75 |
12,156,134.76 |
|
Long-term Loan |
- |
- |
158,237.13 |
|
Provision for Employee Benefits |
1,090,903.00 |
- |
- |
|
Total Liabilities |
24,624,674.82 |
10,953,767.75 |
12,314,371.89 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, and
issued share capital 700,000 shares
in 2013 450,000 shares
in 2012 & 2011 |
70,000,000.00 |
45,000,000.00 |
45,000,000.00 |
|
|
|
|
|
|
Capital Paid |
63,000,000.00 |
45,000,000.00 |
45,000,000.00 |
|
Retained Earning |
|
|
|
|
Appropriated for
Statutory Reserve |
2,570,000.00 |
2,320,000.00 |
2,250,000.00 |
|
Unappropriated |
5,230,016.39 |
5,070,702.25 |
4,735,511.99 |
|
Total Shareholders' Equity |
70,800,016.39 |
52,390,702.25 |
51,985,511.99 |
|
Total Liabilities & Shareholders' Equity |
95,424,691.21 |
63,344,470.00 |
64,299,883.88 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales and Services Income |
88,439,049.97 |
65,228,688.54 |
103,758,808.53 |
|
Disposal of Assets Income |
- |
- |
7,475.64 |
|
Gain on Exchange Rate |
- |
118,291.68 |
- |
|
Other Income |
687,450.32 |
365,881.71 |
124,760.50 |
|
Total Revenues |
89,126,500.29 |
65,712,861.93 |
103,891,044.67 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
77,345,574.40 |
56,963,934.58 |
90,605,977.21 |
|
Selling Expenses |
2,415,471.25 |
1,923,111.99 |
1,105,743.42 |
|
Administrative Expenses |
7,765,290.84 |
5,303,971.92 |
5,579,715.16 |
|
Loss on Disposal of Assets |
27,499.73 |
- |
- |
|
Loss on Exchange Rate |
7,816.41 |
- |
112,211.87 |
|
Total Expenses |
87,561,652.63 |
64,191,018.49 |
97,403,647.66 |
|
|
|
|
|
|
Profit before Financial Costs & Income Tax |
1,564,847.66 |
1,521,843.44 |
6,487,397.01 |
|
Financial Costs |
[537,526.78] |
[512,662.77] |
[350,626.42] |
|
|
|
|
|
|
Profit before Income Tax |
1,027,320.88 |
1,009,180.67 |
6,136,770.59 |
|
Income Tax |
[486,606.74] |
[303,990.41] |
[1,823,777.92] |
|
Net Profit / [Loss] |
540,714.14 |
705,190.26 |
4,312,992.67 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.07 |
3.51 |
3.85 |
|
QUICK RATIO |
TIMES |
0.56 |
1.01 |
2.14 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.30 |
4.02 |
7.07 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.93 |
1.03 |
1.61 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
145.80 |
138.77 |
69.78 |
|
INVENTORY TURNOVER |
TIMES |
2.50 |
2.63 |
5.23 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
47.69 |
57.86 |
48.47 |
|
RECEIVABLES TURNOVER |
TIMES |
7.65 |
6.31 |
7.53 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
27.00 |
44.62 |
24.76 |
|
CASH CONVERSION CYCLE |
DAYS |
166.49 |
152.01 |
93.48 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
87.46 |
87.33 |
87.32 |
|
SELLING & ADMINISTRATION |
% |
11.51 |
11.08 |
6.44 |
|
INTEREST |
% |
0.61 |
0.79 |
0.34 |
|
GROSS PROFIT MARGIN |
% |
13.32 |
13.41 |
12.80 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.77 |
2.33 |
6.25 |
|
NET PROFIT MARGIN |
% |
0.61 |
1.08 |
4.16 |
|
RETURN ON EQUITY |
% |
0.76 |
1.35 |
8.30 |
|
RETURN ON ASSET |
% |
0.57 |
1.11 |
6.71 |
|
EARNING PER SHARE |
BAHT |
0.86 |
1.57 |
9.58 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.26 |
0.17 |
0.19 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.35 |
0.21 |
0.24 |
|
TIME INTEREST EARNED |
TIMES |
2.91 |
2.97 |
18.50 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
35.58 |
(37.13) |
|
|
OPERATING PROFIT |
% |
2.83 |
(76.54) |
|
|
NET PROFIT |
% |
(23.32) |
(83.65) |
|
|
FIXED ASSETS |
% |
137.01 |
10.56 |
|
|
TOTAL ASSETS |
% |
50.64 |
(1.49) |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 35.58%. Turnover has increased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
13.32 |
Satisfactory |
Industrial Average |
14.50 |
|
Net Profit Margin |
0.61 |
Deteriorated |
Industrial Average |
6.10 |
|
Return on Assets |
0.57 |
Deteriorated |
Industrial Average |
11.09 |
|
Return on Equity |
0.76 |
Deteriorated |
Industrial Average |
23.54 |
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 13.32%. 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 0.61%.
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 0.57%.
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 0.76%.
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 |
2.07 |
Impressive |
Industrial Average |
1.69 |
|
Quick Ratio |
0.56 |
|
|
|
|
Cash Conversion Cycle |
166.49 |
|
|
|
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 2.07 times in 2013, decreased from 3.51 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was higher, indicated that company
was an efficient operator in a dominant position within its industry.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 0.56 times in 2013,
decreased from 1.01 times, then the company has not enough current assets that
presumably can be quickly converted to cash for pay financial obligations.
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 167 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.26 |
Impressive |
Industrial Average |
0.53 |
|
Debt to Equity Ratio |
0.35 |
Impressive |
Industrial Average |
1.13 |
|
Times Interest Earned |
2.91 |
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 2.92 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 0.26 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 : SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.30 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.93 |
Acceptable |
Industrial Average |
1.82 |
|
Inventory Conversion Period |
145.80 |
|
|
|
|
Inventory Turnover |
2.50 |
Deteriorated |
Industrial Average |
5.53 |
|
Receivables Conversion Period |
47.69 |
|
|
|
|
Receivables Turnover |
7.65 |
Impressive |
Industrial Average |
3.65 |
|
Payables Conversion Period |
27.00 |
|
|
|
The company's Account Receivable Ratio is calculated as 7.65 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 increased from 139 days at the
end of 2012 to 146 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 2.63 times in year 2012 to 2.5 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.93 times and 1.03
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.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.