MIRA INFORM REPORT
|
Report Date : |
13.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
GPV ASIA [THAILAND] CO., LTD. |
|
|
|
|
Registered Office : |
297 Moo 4, Bangpoo Industrial Estate, Soi 6c, Sukhumvit Road, Praeksa, Muang, Samutprakarn 10280, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
10.02.1998 |
|
|
|
|
Com. Reg. No.: |
0105541008831 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in manufacturing and
servicing of electrical
and mechanical components,
specialized in metal
cabinets and enclosures,
high precision machined
parts, wire configuration, PCB
assembly,
electronic/mechanical assembly and
complete solutions for
electronics and communication industries |
|
|
|
|
No. of Employees |
700 |
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 – 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
GPV ASIA [THAILAND]
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 297
MOO 4, BANGPOO INDUSTRIAL
ESTATE,
SOI
6C, SUKHUMVIT ROAD,
PRAEKSA, MUANG,
SAMUTPRAKARN 10280,
THAILAND
TELEPHONE : [66] 2709-2550-4
FAX :
[66] 2709-2555,
2709-2564
E-MAIL
ADDRESS : jar@gpv-asia.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1998
REGISTRATION
NO. : 0105541008831 [Former : [5] 161/2541]
TAX
ID NO. : 3011912652
CAPITAL REGISTERED : BHT. 258,500,000
CAPITAL PAID-UP : BHT.
258,500,000
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : MARCH 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
BO LYBACK, DANISH
CHIEF EXECUTIVE
OFFICER
NO.
OF STAFF : 700
LINES
OF BUSINESS : METAL
COMPONENTS AND MECHANICAL
PARTS
ASSEMBLY
MANUFACTURER, EXPORTER
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 February 10,
1998 as a
private limited company
under the name
style GPV ASIA [THAILAND]
CO., LTD., by Danish
groups, in order
to provide products
and service of
metal components and
mechanical parts for
mechanical and electronic
industries. It currently
employs approximate 700 staff.
The
subject is a
joint venture between
GPV International A/S
and IFU [The
Industrialization Fund for
Developing Country], Denmark,
which are member
of The GPV
Group, including facilities
in Denmark, Norway,
Switzerland, Thailand and
Republic of China.
The
subject achieved many
certifications, e.g. ISO 9001,
ISO 14001, ISO/TS 16949, ISO 13485,
TL 900, ATEX, UL,
TLS 8001 [TCSR] and OHSAS 18001.
The
subject’s registered address
is 297 Moo 4,
Bangpoo Industrial Estate,
Soi 6C, Sukhumvit Rd.,
Praeksa, Muang, Samutprakarn
10280, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Jens Bayer |
|
Danish |
64 |
|
Ms. Rapeporn Lapayanun |
|
Thai |
49 |
|
Mr. Bjorn Erik Fiskers |
|
Danish |
54 |
|
Mr. Jack Raunsing |
|
Danish |
37 |
|
Mr. Bo Lyback |
|
Danish |
54 |
|
Mr. Henrik Tornbjerg |
|
Danish |
51 |
|
Mr. Poul Viggo Bartels
Petersen |
|
Danish |
55 |
AUTHORIZED PERSON
Any two of the
above directors can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Bo Lyback
is the Chief
Executive Officer.
He is Danish
nationality with the
age of 54
years old.
Mr. Bjorn Erik Fiskers
is the Chief
Operation Officer &
Factory Manager.
He is Danish
nationality with the
age of 54 years
old.
Mr. Lars Henrik Jensen
is the Project
Director.
He is Danish
nationality.
Mr. Christian Nodskov is
the Research &
Development Manager.
He is Danish
nationality.
Mr. Jack Raunsing is the
Sales & Administration Manager.
He is Danish
nationality with the
age of 37
years old.
Ms. Rapeporn Lapayanun is
the Finance Manager.
She is Thai
nationality with the
age of 49
years old.
Mr. Amnaj Kluachantra is the Production
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and servicing of
electrical and mechanical
components, specialized in
metal cabinets and
enclosures, high precision
machined parts, wire
configuration, PCB assembly,
electronic/mechanical
assembly and complete
solutions for electronics
and communication industries.
The products are
as the followings:
·
Mechanical
Production: Sheet metal
production, turning milling,
powder painting &
silk-screen printing, modular
complete assembly, design
and development.
·
Electronic
Production: EMS production
according to IPC-A-610D
standard, manual assembly,
SMT assembly, cable & wire configuration
according to IPC-WHMA-A-620 standard [UL
approved[, Nitrogen protected
wave soldering, lead
free soldering, AOI
inspection, optical microscope
system, IC test,
functional test, burn
in test, BGA [Ball
Grid Array] rework
station, dip & spray coating,
box build, prototype & test, development,
fully ESD protected
area.
·
High
Precision Machine Parts
PRODUCTION CAPACITIES
PCB Assemblies : 1,000,000
units/annum
Wire Assembly : 500,000
units/annum
Breaker parts : 2,231,200
pieces/annum
High precision machines : 350 tons/annum
PURCHASE
Raw materials and
electronic parts are purchased
from suppliers and
agents both domestic and overseas in Singapore, Hong Kong,
Taiwan, Republic of China, India, Malaysia,
Denmark, Japan and
Germany.
MAJOR
SUPPLIERS
GPV
International A/S :
Denmark
Centra Precision Part Co., Ltd. : Thailand
Brandex Co., Ltd. : Thailand
SALES
[LOCAL]
90% of the products is
sold and serviced
locally to manufacturers, wholesalers
and retailers.
EXPORT
10% of the
products is exported
to Denmark, U.S.A.,
Japan, Taiwan and
Germany.
PARENT
COMPANY
GPV International A/S : Denmark
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.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Bangkapi Branch :
Ramkhamhaeng Rd., Huamark,
Bangkapi, Bangkok]
EMPLOYMENT
The
subject employs approximately 700
staff [office staff
and factory workers].
LOCATION
DETAILS
The
premise is owned
for administrative office,
factory and warehouse on
16,000 square meters at
the heading address.
Premise is located
in industrial area.
COMMENT
The subject
was formed in
1998 as a
manufacture of metal components
and mechanical parts. The products
are mainly provided to local
customers. It produces and
develops products within mechanics
and electronics in
a range from
simple parts to highly
complex assembled end-products. Subject’s sales were outstanding increased
from demand of domestic industrial
sector.
Despite
economic slowdown, subject
still maintains a
solid business.
FINANCIAL
INFORMATION
The
capital was initially
registered at Bht.
2,000,000 divided into
10,000 shares of
Bht. 200 each.
The
capital was increased
later as following:
Bht. 14,000,000
on June 2,
1988
Bht. 26,000,000
on September 9,
1998
Bht. 31,000,000
on July 2,
2002
Bht. 230,000,000 on
March 29, 2004
Bht. 258,500,000 on
December 9, 2005
The
latest registered capital
was increased to
Bht. 258,500,000 divided into
25,850 shares of
10,000 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
June 20, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
GPV International A/S Nationality: Danish Address : Denmark |
18,093 |
69.99 |
|
IFU [The Industrialization Fund
for Developing Country] Nationality: Danish Address : Denmark |
7,755 |
30.00 |
|
GPV Electronics A/S Nationality: Danish Address : Ors,
Denmark |
1 |
= 0.01 |
|
GPV Component A/S Nationality: Norwegian Address : Skien,
Norway |
1 |
|
Total Shareholders : 4
Share Structure [as
at June 20,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
4 |
25,850 |
100.00 |
|
Total |
4 |
25,850 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Chawala Thienprasertkij No. 4301
BALANCE
SHEET [BAHT]
The latest financial figures published
as at March
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 [Adjusted] |
|
|
|
|
|
|
Cash in hand
& at Bank
|
153,843,694 |
218,595,621 |
11,992,579 |
|
Short-term Investment |
- |
3,800,000 |
- |
|
Trade Accounts & Other
Receivable |
850,222,260 |
800,464,124 |
806,511,922 |
|
Receivable-Related Company Due
in One Year |
6,247,750 |
13,725,250 |
25,641,450 |
|
Inventories |
451,273,394 |
476,332,718 |
634,159,228 |
|
Other Current Assets
|
5,755,563 |
1,735,753 |
6,279,847 |
|
|
|
|
|
|
Total Current Assets
|
1,467,342,661 |
1,514,653,466 |
1,484,585,026 |
|
Cash at Bank
pledged as a Collateral |
5,475,856 |
5,352,384 |
5,297,311 |
|
Long-term Lending to
Related Company |
- |
6,862,625 |
32,764,075 |
|
Fixed Assets |
302,607,377 |
141,597,469 |
116,569,992 |
|
Intangible Assets |
3,617,701 |
2,754,836 |
2,235,093 |
|
Other Non-current Assets |
2,439,984 |
2,429,984 |
2,350,864 |
|
Total Assets |
1,781,483,579 |
1,673,650,764 |
1,643,802,361 |
LIABILITIES & SHAREHOLDERS’
EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 [Adjusted] |
|
|
|
|
|
|
Bank Overdraft |
- |
- |
15,559,482 |
|
Trade Accounts & Other
Payable |
360,885,480 |
254,533,157 |
320,644,324 |
|
Current Portion of Long-term Loan |
10,680,000 |
10,680,000 |
61,582,790 |
|
Current Portion of Lease
Contract Liabilities |
990,974 |
252,143 |
1,011,384 |
|
Accrued Expenses |
- |
25,234,543 |
16,116,780 |
|
Accrued Dividend |
- |
80,000,000 |
- |
|
Other Current Liabilities |
1,777,967 |
1,223,545 |
1,714,497 |
|
|
|
|
|
|
Total Current Liabilities |
374,334,421 |
371,923,388 |
416,629,257 |
|
Long-term Loan |
13,600,000 |
24,280,000 |
34,960,000 |
|
Employee Benefits Obligation |
19,865,132 |
16,795,552 |
16,003,432 |
|
Financial Lease Contract Liabilities |
3,130,368 |
108,723 |
357,367 |
Total
Liabilities
|
410,929,921 |
413,107,663 |
467,950,056 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10,000
par value authorized, issued
and fully paid share capital
25,850 shares |
258,500,000 |
258,500,000 |
258,500,000 |
|
|
|
|
|
|
Capital Paid |
258,500,000 |
258,500,000 |
258,500,000 |
|
Retained Earning for Statutory Reserve |
25,850,000 |
25,850,000 |
- |
|
Unappropriated |
1,086,203,658 |
976,193,101 |
917,352,305 |
|
Total Shareholders' Equity |
1,370,553,658 |
1,260,543,101 |
1,175,852,305 |
|
Total Liabilities & Shareholders' Equity |
1,781,483,579 |
1,673,650,764 |
1,643,802,361 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 [Adjusted] |
|
|
|
|
|
|
Sales Income |
2,309,324,801 |
2,341,626,472 |
1,998,658,388 |
|
Equipment for Production Process |
11,285,262 |
12,902,011 |
4,357,404 |
|
Other Income |
27,351,463 |
|
|
|
Interest Income |
27,351,463 |
30,642,350 |
25,602,155 |
|
Gain on Exchange Rate |
- |
4,378,172 |
11,748,736 |
|
Others |
38,204,079 |
21,642,606 |
21,123,430 |
|
Total Revenues |
2,386,165,605 |
2,411,191,611 |
2,061,490,113 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,833,889,731 |
1,849,908,358 |
1,604,027,543 |
|
Selling Expenses |
113,224,633 |
115,091,431 |
100,077,262 |
|
Administrative Expenses |
204,950,759 |
211,503,527 |
187,368,656 |
|
Loss from Exchange Rate |
42,163,762 |
- |
- |
|
Total Expenses |
2,194,228,885 |
2,176,503,316 |
1,891,473,461 |
|
|
|
|
|
|
Profit before Financial Cost & Income Tax |
191,936,720 |
234,688,295 |
170,016,652 |
|
Financial Cost |
[1,926,163] |
[3,225,468] |
[5,063,415] |
|
Profit before Income Tax |
190,010,557 |
231,462,827 |
164,953,237 |
|
Income Tax |
- |
[33,838,234] |
[33,377,407] |
|
Net Profit / [Loss] |
190,010,557 |
197,624,593 |
131,575,830 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.92 |
4.07 |
3.56 |
|
QUICK RATIO |
TIMES |
2.70 |
2.79 |
2.03 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
7.63 |
16.54 |
17.15 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.30 |
1.40 |
1.22 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
89.82 |
93.98 |
144.30 |
|
INVENTORY TURNOVER |
TIMES |
4.06 |
3.88 |
2.53 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
134.38 |
124.77 |
147.29 |
|
RECEIVABLES TURNOVER |
TIMES |
2.72 |
2.93 |
2.48 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
71.83 |
50.22 |
72.96 |
|
CASH CONVERSION CYCLE |
DAYS |
152.37 |
168.53 |
218.63 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
79.41 |
79.00 |
80.26 |
|
SELLING & ADMINISTRATION |
% |
13.78 |
13.95 |
14.38 |
|
INTEREST |
% |
0.08 |
0.14 |
0.25 |
|
GROSS PROFIT MARGIN |
% |
23.92 |
23.97 |
22.89 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
8.31 |
10.02 |
8.51 |
|
NET PROFIT MARGIN |
% |
8.23 |
8.44 |
6.58 |
|
RETURN ON EQUITY |
% |
13.86 |
15.68 |
11.19 |
|
RETURN ON ASSET |
% |
10.67 |
11.81 |
8.00 |
|
EARNING PER SHARE |
BAHT |
7,350.51 |
7,645.05 |
5,089.97 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.23 |
0.25 |
0.28 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.30 |
0.33 |
0.40 |
|
TIME INTEREST EARNED |
TIMES |
99.65 |
72.76 |
33.58 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(1.38) |
17.16 |
|
|
OPERATING PROFIT |
% |
(18.22) |
38.04 |
|
|
NET PROFIT |
% |
(3.85) |
50.20 |
|
|
FIXED ASSETS |
% |
113.71 |
21.47 |
|
|
TOTAL ASSETS |
% |
6.44 |
1.82 |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is -1.38%. Turnover has decreased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
23.92 |
Impressive |
Industrial
Average |
(2.13) |
|
Net Profit Margin |
8.23 |
Acceptable |
Industrial
Average |
12.30 |
|
Return on Assets |
10.67 |
Acceptable |
Industrial
Average |
18.43 |
|
Return on Equity |
13.86 |
Deteriorated |
Industrial
Average |
28.51 |
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 23.92%. 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 8.23%.
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 10.67%.
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 13.86%.
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 |
3.92 |
Impressive |
Industrial
Average |
3.20 |
|
Quick Ratio |
2.70 |
|
|
|
|
Cash Conversion Cycle |
152.37 |
|
|
|
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 3.92 times in 2013, decreased from 4.07 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 2.7 times in 2013,
decreased from 2.79 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 153 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.23 |
Impressive |
Industrial
Average |
0.25 |
|
Debt to Equity Ratio |
0.30 |
Impressive |
Industrial
Average |
0.33 |
|
Times Interest Earned |
99.65 |
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 99.65 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 0.23 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
7.63 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.30 |
Satisfactory |
Industrial
Average |
1.50 |
|
Inventory Conversion Period |
89.82 |
|
|
|
|
Inventory Turnover |
4.06 |
Impressive |
Industrial
Average |
3.93 |
|
Receivables Conversion Period |
134.38 |
|
|
|
|
Receivables Turnover |
2.72 |
Acceptable |
Industrial
Average |
3.87 |
|
Payables Conversion Period |
71.83 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.72 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 94 days at the
end of 2012 to 90 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 3.88 times in year 2012 to 4.06 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.3 times and 1.4
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.59.33 |
|
|
1 |
Rs.99.68 |
|
Euro |
1 |
Rs.80.30 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.