MIRA
INFORM REPORT
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Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
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Name : |
MSA (AUST.) PTY. LIMITED |
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Registered Office : |
137 Gilba Road, Girraween, New South Wales, 2145 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
27.03.1962 |
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Com. Reg. No.: |
000389837 |
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Legal Form : |
Australian Proprietary Company, Limited by Shares |
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Line of Business : |
Subject engages in import and distribution of safety equipment for
mining and industrial applications. |
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No. of Employees : |
77 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Australia |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
AUSTRALIA - ECONOMIC OVERVIEW
The Australian economy has experienced continuous growth and features low unemployment, contained inflation, very low public debt, and a strong and stable financial system. By 2012, Australia had experienced more than 20 years of continued economic growth, averaging 3.5% a year. Demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports. The high Australian dollar has hurt the manufacturing sector, while the services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control. Australia has benefited from a dramatic surge in its terms of trade in recent years, stemming from rising global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the World Trade Organization, APEC, the G20, and other trade forums. Australia has bilateral free trade agreements (FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia, Japan, and the Republic of Korea, as well as with its Pacific neighbors and the Gulf Cooperation Council countries, and is also working on the Trans-Pacific Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
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Source
: CIA |
CORPORATE DETAILS
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Verified
Address |
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Subject
name |
Registered
address |
SUMMARY DETAILS
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Report
Summary |
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Date
registered |
Paid-up
capital |
STATUTORY DETAILS
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Registry
Information |
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Date
registered |
Statutory
status MINE SAFETY APPLIANCES is a business name
owned by the Subject registered on 20/01/1982 bearing registration number
8205698L. |
BOARD OF MANAGEMENT
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Key
Personnel |
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Name |
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BOARD OF DIRECTORS
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Appointments |
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Name |
Staff
employed |
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Other
Appointments |
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Auditor |
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SHARE CAPITAL
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Composition |
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Authorized
capital |
Paid-up
capital |
OWNERSHIP / SHAREHOLDERS
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Composition |
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How
listed |
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CORPORATE AFFILIATIONS AND RELATED COMPANIES
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Structure |
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Company
name MSA Safety Incorporated develops, manufactures, and supplies products
that protect people’s health and safety worldwide. Its safety products
integrate a combination of electronics, mechanical systems, and materials to
protect users against hazardous or life threatening situations in the oil and
gas, fire service, mining, construction, and other industries, as well as in
the military. The company offers respiratory protection products, including
self-contained breathing apparatus, and air-purifying and escape respirators
to protect against the harmful effects of contamination caused by dust,
gases, fumes, volatile chemicals, sprays, micro-organisms, fibers, and other
contaminants; and portable and fixed gas detection instruments comprising
single-and multi-gas hand-held detectors, multi-point permanently installed
gas detection systems, and flame detectors and open-path infrared gas detectors
to detect the presence or absence of various gases in the air. It also
provides thermal imaging cameras for the fire service market to detect
sources of heat in order to locate downed firefighters and other people
trapped inside burning or smoke-filled structures; and head, eye, face, and
hearing protection products comprising industrial hard hats, fire helmets,
ballistic helmets, hearing protection products, non-prescription protective
eyewear, and face shields for work environments where hazards present
dangers, such as dust, flying particles, metal fragments, chemicals, extreme
glare, and optical radiation. In addition, the company offers fall protection
equipment, such as confined space equipment, harnesses, fall arrest
equipment, lanyards, and lifelines for construction and plant workers, and
people working at height; and consumer and contractor safety products. It
serves industrial and military end-users, distributors, and retail consumers.
The company was founded in 1914 and is headquartered in Cranberry Township,
Pennsylvania.
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Remarks
on corporate affiliations and related companies |
BANK AND MORTGAGES
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Bank
Details |
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Name
of bank |
Comments |
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Mortgages |
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None reported. |
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Legal
Filings |
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Bankruptcy
filings |
Tax
liens |
FINANCIAL STATISTICS
|
Description |
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Financial
statement source |
Currency
of financial statement |
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Concise Financial Data |
Consolidation style |
Consolidated |
Consolidated |
Group Consolidated |
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Currency |
Australia Dollar (AUD) |
Australia Dollar (AUD) |
US Dollar (USD) |
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Date of financial year end |
31/12/13 |
31/12/12 |
31/12/13 |
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Length of financial
accounts |
12 months |
12 months |
12 months |
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Sales turnover / Revenue /
Income |
43,899,000.00 |
49,492,000.00 |
1,111,883,000.00 |
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Profit / Loss before tax |
5,209,000.00 |
5,780,000.00 |
120,133,000.00 |
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Net income / loss |
3,907,000.00 |
3,878,000.00 |
88,049,000.00 |
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Non-current assets |
9,115,000.00 |
10,534,000.00 |
733,304,000.00 |
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Property, plant and
equipment |
7,707,000.00 |
8,419,000.00 |
152,755,000.00 |
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Current assets |
23,491,000.00 |
20,489,000.00 |
500,966,000.00 |
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Inventories |
10,738,000.00 |
10,879,000.00 |
136,837,000.00 |
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Cash and cash equivalents |
7,420,000.00 |
3,731,000.00 |
96,265,000.00 |
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Accounts receivable |
5,333,000.00 |
5,879,000.00 |
200,364,000.00 |
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Total assets |
32,606,000.00 |
31,023,000.00 |
1,234,270,000.00 |
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Current liabilities |
14,638,000.00 |
13,991,000.00 |
191,564,000.00 |
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Non-current liabilities |
570,000.00 |
1,465,000.00 |
470,359,000.00 |
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Accounts payable |
7,459,000.00 |
6,331,000.00 |
66,902,000.00 |
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Total liabilities |
15,208,000.00 |
15,456,000.00 |
661,923,000.00 |
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Share equity |
17,398,000.00 |
15,567,000.00 |
572,347,000.00 |
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Retained earnings |
15,698,000.00 |
13,867,000.00 |
792,206,000.00 |
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Remarks |
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The consolidated financial statement above
relates to the Subject and its subsidiary MSA (Aust) Nominees Pty. Limited. |
BUSINESS DETAILS
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Operational
Details |
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Main activities The Subject engages in import and distribution of safety equipment for
mining and industrial applications.
Products and
services Fall Protection Equipment |
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Purchases |
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International |
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Sales |
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Local |
International |
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Business
Facilities and Assets |
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Premises |
Branches |
SUMMARIZED COUNTRY RISK
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Gross
Domestic Products (GDP) and Economic Overview |
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Central
bank |
Public
debt (general Government gross debt as percentage (%) of GDP) Largest
companies Qantas Airways (Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs),
Brambles (Business & Personal Services),Crown Ltd (Casinos & Gaming),
Amcor (Containers & Packaging),Suncorp-Metway (Diversified Insurance),
BHP Billiton (Diversified Metals & Mining),Newcrest Mining (Diversified
Metals & Mining), Orica (Diversified Metals & Mining), Iluka
Resources (Diversified Metals & Mining), Origin Energy (Electric
Utilities), AGL Energy (Electric Utilities), Wesfarmers (Food Retail),
Woolworths (Food Retail), Metcash (Food Retail), Macquarie Group (Investment
services), AMP (Investment services), Challenger Ltd (Investment services),
Fortescue Metals Group (Iron & Steel), Bluescope Steel (Iron &
Steel), Commonwealth Bank (Major Banks), Westpac Banking Group (Major Banks),
National Australia Bank (Major Banks), ANZ (Major Banks), Woodside Petroleum
(Oil & Gas Operations), Santos (Oil & Gas Operations), Caltex
Australia (Oil & Gas Operations), WorleyParsons (Oil Services &
Equipment), Toll Holdings (Other Transportation), Transurban Group (Other
Transportation), QBE Insurance Group (Property & Casualty Insurance),
Insurance Australia Group (Property & Casualty Insurance), QR National
(Railroads), Westfield Group (Real Estate), Stockland Australia (Real Estate),
Westfield Retail Trust (Real Estate), Lend Lease (Real Estate), CFS Retail
Property Trust (Real Estate), Goodman Group (Real Estate), Bendigo &
Adelaide Bank (Regional Banks), Bank of Queensland (Regional Banks), Incitec
Pivot (Specialized Chemicals), Telstra (Telecommunications Services) |
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Trade
and Competitiveness Overview |
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Total
exports |
Major
export partners |
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Country
and Population Overview |
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Total
population |
Currency |
PAYMENT OUTLOOK
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Purchases
Term |
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International |
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Sales
Term |
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Local |
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Trade
Reference / Payment Behaviour |
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Comments |
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Investigation
Note |
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Sources |
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Attachments |
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Attachments |
KEY FINANCIAL RATIOS
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For financial year end |
31/12/13 |
31/12/12 |
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Profitability |
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Gross profit (loss) margin (%) |
0.00 |
0.00 |
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Pre-tax profit (loss) margin (%) |
11.87 |
11.87 |
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Net profit (loss) margin (%) |
8.90 |
7.84 |
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Earnings per share (currency based on financial statement) |
4.60 |
4.56 |
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Return on Invested Capital |
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Return on assets (%) |
11.98 |
12.50 |
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Return on equity (%) |
22.46 |
24.91 |
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Liquidity |
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Current ratio |
1.60 |
1.46 |
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Quick ratio |
0.87 |
0.69 |
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Cash ratio |
0.32 |
0.18 |
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Accounts receivable turnover ratio (times) |
8.23 |
8.42 |
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Accounts payable turnover ratio (times) |
5.89 |
7.82 |
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Collection period (days) |
44.34 |
43.36 |
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Payment period (days) |
62.02 |
46.69 |
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Inventory turnover ratio (times) |
4.09 |
4.55 |
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Inventory conversion period (days) |
89.28 |
80.23 |
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Asset Management |
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Fixed asset turnover ratio (times) |
5.70 |
5.88 |
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Asset turnover ratio (times) |
1.35 |
1.60 |
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Capital Structure and
Solvency |
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Total debt to asset ratio (%) |
46.64 |
49.82 |
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Total debt to equity ratio (%) |
87.41 |
99.29 |
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Non-current debt to equity ratio (%) |
3.28 |
9.41 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.59.79 |
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|
1 |
Rs.102.66 |
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Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.