MIRA INFORM REPORT
|
Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
UAWITHYA
MACHINERY CO., LTD. |
|
|
|
|
Registered Office : |
11th Floor, Sivatel Tower, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.03.1968 |
|
|
|
|
Com. Reg. No.: |
0105511001561 |
|
|
|
|
Legal Form : |
private limited company
|
|
|
|
|
Line of Business : |
Subject’s activities are importer and
sole agent wide
range of high
quality Quarry Equipment
and Commercial Explosives
for mining industry |
|
|
|
|
No. of Employees |
230 |
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 : |
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 |
|
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
UAWITHYA
MACHINERY CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 11th FLOOR,
SIVATEL TOWER,
53
WIRELESS
ROAD, LUMPINI,
PATHUMWAN,
BANGKOK 10330, THAILAND
TELEPHONE : [66] 2253-1170-6
FAX :
[66] 2253-1187-9
E-MAIL
ADDRESS : ampornr@uawithya.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1968
REGISTRATION
NO. : 0105511001561
[Former: 187/2511]
TAX
ID NO. ; 3101067484
CAPITAL REGISTERED : BHT. 80,000,000
CAPITAL PAID-UP : BHT.
80,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SUPACHAI UAWITHYA, THAI
PRESIDENT
NO.
OF STAFF : 230
LINES
OF BUSINESS : QUARRY EQUIPMENT
& COMMERCIAL EXPLOSIVES
IMPORTER &
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 March
14, 1968 as
a private limited
company under the
name style UAWITHYA
MACHINERY CO., LTD., by
Thai groups. The
subject is the
leading supplier of
high quality Quarry
Equipment and Commercial
Explosives in Thailand.
It currently employs
approximate 230 staff.
The subject has expertise
in the field
of drilling and
blasting. It is
well known in
the Quarry and
Cement Industry in
Thailand. It works
closely with the
Mineral Resource Department
and the Quarry
Association to give
lectures and seminars
to the Quarry
community with the
emphasis on advance
technology, safety and
the environment.
The registered address
was initially at
457, 383/73-74, 383/80-81 Chakrapadipong Rd.,
Klongmahanark, Pomprab, Bangkok
10100.
On July 13,
2012, the registered
address was relocated
to 11th Flr., Sivatel
Tower, 53 Wireless
Rd., Lumpini, Pathumwan, Bangkok 10330,
and this is
the subject’s current
operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Supachai Uawithya |
[-] |
Thai |
62 |
|
Ms. Kejkanok Uawithya |
[x] |
Thai |
52 |
|
Mr. Navapol Uawithya |
[-] |
Thai |
49 |
|
Mr. Vicharn Boonlee |
[+] |
Thai |
38 |
|
Mr. Parinthorn Khanthong |
[+] |
Thai |
45 |
|
Mr. Sompiti Uawithya |
[-] |
Thai |
44 |
AUTHORIZED
PERSON
The above director
[x] can jointly
sign with anyone
of the directors
[-] or one
of the directors
[+] can sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Supachai Uawithya
is the President.
He is Thai
nationality with the
age of 62
years old.
Mr. Navapol Uawithya
is the Vice
President.
He is Thai
nationality with the
age of 49
years old.
Ms. Kejkanok Uawithya
is the Managing
Director.
She is Thai
nationality with the
age of 52
years old.
Mr. Sompiti Uawithya
is the Branding
Director.
He is Thai
nationality with the age
of 44 years
old.
BUSINESS
OPERATIONS
The subject’s activities
are importer and
sole agent wide
range of high
quality Quarry Equipment
and Commercial Explosives
for mining industry.
Its products are
as follows:
Products Brands
Machinery & Equipments
Crawler Drills “FURUKAWA”
Hydraulic Breakers “FURUKAWA”
Hand Tools “FURUKAWA”
Quarrying Products “PEWAG”
Exploder, Ohmmeters, Tester “WASAGCHEMIE”
Explosive Products
- Package Explosive
- Detonators
- Detonating Cord
- Safety Fuse
Subject also provides full
range of service
for blast design,
customer safety training,
technical support, explosives
license management, drill,
blast consultant, as
well as after
sale servicing, maintenance
and workshop repairs.
SERVICE
Blast Design
Over 46 years experience
in the quarry
and cement industry,
Uawithya is able
to offer expert
advice to the
customers regarding drilling
and blasting.
Subject’s technical team
is able to
tack blasting design
as well as
solving drilling and
blasting problems hands
on.
Customer Training
Subject offers
on site and
classroom training on all
products according to
customers’ requirement. Seminars
in conjunction with
the suppliers’ technical
experts are also
conducted throughout the
year
Explosives License
Management
Subject has a
skilled team in
own License Department
to carry out
Application and Manage customer
Licenses and Permit
efficiently.
Drill and Blast
Consultant
The Quarry Service
Team are ready
to assist in
all aspects of
Drilling and Blasting.
Engineers have experience
in open pit
Quarry, Tunnelling, Presplit
and Mineral Mining.
After Sales Service
Uawithya Machinery has
one of the
most experienced service
teams in Thailand.
Subject’s mechanics are
through and proactive
in their approach.
Subject offers both
on site repair
and in subject’s
well equipped workshop
in
customers’ area.
MAJOR BRANDS
“FURUKAWA”,
“PEWAG”, “WASAGCHEMIE”, “SANDVIK”,
“METSO”, “LIEBHERR”, “RAMMER”,
“TEREX”, “CME”, “PRO-TECH”,
“MINERALS” and etc.
IMPORT [COUNTRIES]
The products are imported
from Japan, Austria,
Sweden, Finland, U.S.A.,
Germany, Australia, Republic
of China and
France.
MAJOR SUPPLIERS
Furukawa Rock Drill Sales
Co., Ltd. : Japan
Sandvik AB. :
Sweden
Wasagchemie Sythen GmbH. : Germany
Metso Corporation : Finland
Liebherr [Thailand] Co.,
Ltd. : Thailand
Terex Corporation : U.S.A.
Pewag Inc. : U.S.A.
SALES [LOCAL]
100% of the
products is sold
locally to mining,
cement industry, Thai
Government and contractors.
MAJOR CUSTOMERS
Siam City Cement
Public Co., Ltd. : Thailand
TPI Polene Public
Co., Ltd. :
Thailand
The Siam Cement
[Kaengkhoi] Co., Ltd. : Thailand
The Siam Cement
[Taluang] Co., Ltd. : Thailand
The Siam Cement
[Thung Song] Co.,
Ltd. : Thailand
The Siam Cement
[Lampang] Co., Ltd. : Thailand
ASSOCIATED & AFFILIATED
COMPANIES
The subject is
a member of
Uawithya Group of
companies which consists
of:
Thanom Changkol Co.,
Ltd.
Business Type : Importer
of commercial explosives
Investment :
The subject holds
99.40% of company’s
total shares
Thai Explosives Co., Ltd.
Business Type : Importer
of commercial explosives
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 of
30-60 days.
Local bills are
paid by cash
or on the
credits of 30-60 days.
Imports are by
L/C at sight
or T/T.
BUSINESS TRANSACTION
The products are sold and
serviced both by cash
and credit with
maximum credit given at
30-60 days. There is
no payment problem
from the customers.
BANKING
Siam Commercial Bank
Public Co., Ltd.
[Head Office
: 9 Ratchadapisek
Rd., Ladyao, Jatujak,
Bangkok 10900]
[Surawong Branch
: 291 Surawong
Rd., Bangrak, Bangkok
10500]
Kasikornbank Public Co., Ltd.
[Vorachak Branch
: 195/1-3 Vorachak
Rd., Pomprab, Bangkok 10100]
EMPLOYMENT
The subject employs
approximately 230 staff.
[office staff and
service workers]
LOCATION DETAILS
The premise is rented
for administrative office, service
center and warehouse
at the heading
address. Premise is
located in commercial/residential area.
The subject currently
has 10 branches,
located at the
following addresses :
-
437
Mitraphap Rd., Pakpriew,
Muang, Saraburi.
-
333/3-5 Moo
5, Pluangban, Prasart,
Surin.
-
530/16-17
Moo 14, Malaiman, Jarakaesamphun, U-Thong,
Supanburi.
-
243, 245 Moo 8,
Lampang-Ngao Rd., Suandok,
Muang, Lampang.
-
23/2 Moo
5, Sukhumvit Rd.,
Huaykapi, Muang, Chonburi.
-
69/11-12 Moo
1, Lopburi-Ramesuan Rd.,
Klonghae, Hadyai, Songkhla.
-
84/1
Bannaiwang Rd., Pakpraek, Thungsong,
Nakornsrithammarat.
-
73/17 Moo
2, Punpin, Suratthani.
-
459/11-12
Moo 3, Samor
Khae, Muang, Phisanuloke.
-
48/9-10
Moo 9, T. Wangsapung, A. Wangsapung, Loei.
COMMENT
The company is the only company in the country which is able to offer
the most comprehensive and after sales
support for both drilling
and blasting requirement,
as well as one of
the most experienced service
team in Thailand.
Since establishment in
1968, its experiences
and proactive term specializing
in the care
and maintenance of all Quarry machinery
from Drills, Hammers loaders excavators to crushing equipment has enabled
subject to stay in
its business for
more than four
decades.
Its
knowledge is based on experiences
with know how and advance
technology given to subject
from valued world class manufacturers. The subject’s business remains solid and
sufficient to meet its customers demand.
FINANCIAL
INFORMATION
The capital was
registered at Bht.
3,000,000 divided into
30,000 shares of
Bht. 100 each.
The capital was
increased later as
followings :
Bht. 10,000,000
on March 16,
1973
Bht. 20,000,000
on October 17,
1979
Bht. 60,000,000
on October 17,
2005
Bht. 80,000,000
on February 15,
2006
The latest registered
capital was increased
to Bht. 80,000,000
divided into 800,000
shares of Bht.
100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
[as at April
26, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Uawithya Enterprises Co., Ltd. Nationality: Thai Address : 383/74
Chakrapadipong Rd., Pomprab, Bangkok |
799,994 |
99.99 |
|
Ms. Kejkanok Uawithya Nationality: Thai Address : 355
Pattanakarn Rd., Suanluang, Bangkok 10250 |
1 |
|
|
Mr. Sompiti Uawithya Nationality: Thai Address : 355
Pattanakarn Rd., Suanluang,
Bangkok 10250 |
1 |
|
|
Mr. Supachai Uawithya Nationality: Thai Address : 439/1
Mitraphap Rd., Pakpreaw, Muang, Saraburi |
1 |
= 0.01 |
|
Mr. Navapol Uawithya Nationality: Thai Address : 1182/11
New Petchburi Rd.,
Makkasan,
Prakanong, Bangkok 10110 |
1 |
|
|
Ms. Keerata Karnchanasathit Nationality: Thai Address : 355
Pattanakarn Rd., Suanluang,
Bangkok 10250 |
1 |
|
|
Ms. Som Karnchanasathit Nationality: Thai Address : 355
Pattanakarn Rd., Suanluang,
Bangkok 10250 |
1 |
|
Total Shareholders: 7
Share Structure [as
at April 26,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
800,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
800,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT
NO0.:
Ms. Thipawal Nananuwat No.
3459
BALANCE
SHEET [BAHT]
The
latest financial figures
published for December 31,
2012, 2011 &
2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
19,819,139 |
64,267,816 |
5,644,824 |
|
Trade Accounts & Other Receivable |
161,117,357 |
124,346,525 |
83,196,121 |
|
Inventories |
344,389,766 |
360,948,924 |
317,810,408 |
|
Prepayment for Goods |
25,558,465 |
7,958,337 |
32,960,863 |
|
Other Current Assets
|
5,231,241 |
7,239,471 |
12,212,125 |
|
|
|
|
|
|
Total Current Assets |
556,115,968 |
564,761,073 |
451,824,341 |
|
Cash at Bank
pledged as a
Collateral |
10,229,870 |
10,044,198 |
316,153 |
|
Investment in Subsidiaries |
99,400 |
99,400 |
598,800 |
|
Fixed Assets |
189,965,927 |
206,726,343 |
200,842,653 |
|
Intangible Assets |
4,241,555 |
4,060,853 |
5,351,892 |
|
Other Assets |
2,643,958 |
1,997,413 |
5,481,595 |
|
Total Assets |
763,296,678 |
787,689,280 |
664,415,434 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Bank |
174,767,814 |
199,342,765 |
155,816,881 |
|
Trade Accounts & Other Payable |
189,662,190 |
151,329,520 |
87,651,209 |
|
Current Portion of
Long-term Loan |
17,115,232 |
17,797,910 |
19,459,589 |
|
Current Portion of Financial
Lease Contract Liabilities
|
3,208,730 |
4,484,680 |
4,702,333 |
|
Accrued Income Tax |
4,394,595 |
4,546,215 |
1,235,181 |
|
Pre-received Income |
27,065,303 |
28,185,739 |
31,223,210 |
|
Other Current Liabilities |
2,746,498 |
9,687,276 |
4,310,781 |
|
|
|
|
|
|
Total Current Liabilities |
418,960,362 |
415,374,105 |
304,399,184 |
|
Long-term Trust Receipt Payable |
137,947,307 |
170,152,177 |
152,079,950 |
|
Long-term Loan, Net
of Current Portion |
47,711,803 |
64,796,245 |
81,226,347 |
|
Financial Lease Contract Liabilities, Net of
Current Portion |
1,623,206 |
3,282,937 |
2,741,364 |
|
Reserve for Employee
Benefits |
5,558,220 |
2,211,963 |
- |
|
Total Liabilities |
611,800,898 |
655,817,427 |
540,446,845 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and fully paid share
capital 800,000 shares
|
80,000,000 |
80,000,000 |
80,000,000 |
|
|
|
|
|
|
Capital Paid |
80,000,000 |
80,000,000 |
80,000,000 |
|
Retained Earning Appropriated for
Statutory Reserve |
2,000,000 |
2,000,000 |
2,000,000 |
|
Retained Earning -
Unappropriated |
69,495,780 |
49,871,853 |
41,968,589 |
|
Total Shareholders' Equity |
151,495,780 |
131,871,853 |
123,968,589 |
|
Total Liabilities & Shareholders' Equity |
763,296,678 |
787,689,280 |
664,415,434 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales & Services |
1,013,801,002 |
1,092,294,758 |
706,628,295 |
|
Gain on Exchange Rate |
14,903,860 |
- |
- |
|
Administrator Income |
37,632,958 |
- |
- |
|
Other Income |
26,391,909 |
18,789,201 |
5,950,071 |
|
Total Revenues |
1,092,729,729 |
1,111,083,959 |
712,578,366 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
846,860,533 |
889,444,264 |
583,593,911 |
|
Selling Expenses |
69,650,823 |
53,781,711 |
43,266,702 |
|
Administrative Expenses |
142,193,256 |
128,042,410 |
75,249,340 |
|
Loss on Exchange Rate |
- |
17,088,189 |
- |
|
Total Expenses |
1,058,704,612 |
1,088,356,574 |
702,249,340 |
|
|
|
|
|
|
Profit before Financial
Cost & Income Tax |
34,025,117 |
22,727,385 |
10,468,413 |
|
Financial Cost |
[6,206,670] |
[8,620,650] |
[6,186,337] |
|
Profit before Income Tax |
27,818,447 |
14,106,735 |
4,282,076 |
|
Income Tax |
[8,194,520] |
[6,203,471] |
[2,525,532] |
|
Net Profit / [Loss] |
19,623,927 |
7,903,264 |
1,756,544 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.33 |
1.36 |
1.48 |
|
QUICK RATIO |
TIMES |
0.43 |
0.45 |
0.29 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.34 |
5.28 |
3.52 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.33 |
1.39 |
1.06 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
148.43 |
148.12 |
198.77 |
|
INVENTORY TURNOVER |
TIMES |
2.46 |
2.46 |
1.84 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
58.01 |
41.55 |
42.97 |
|
RECEIVABLES TURNOVER |
TIMES |
6.29 |
8.78 |
8.49 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
81.75 |
62.10 |
54.82 |
|
CASH CONVERSION CYCLE |
DAYS |
124.70 |
127.57 |
186.92 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
83.53 |
81.43 |
82.59 |
|
SELLING & ADMINISTRATION |
% |
20.90 |
16.65 |
16.77 |
|
INTEREST |
% |
0.61 |
0.79 |
0.88 |
|
GROSS PROFIT MARGIN |
% |
24.25 |
20.29 |
18.25 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.36 |
2.08 |
1.46 |
|
NET PROFIT MARGIN |
% |
1.94 |
0.72 |
0.25 |
|
RETURN ON EQUITY |
% |
12.95 |
5.99 |
1.42 |
|
RETURN ON ASSET |
% |
2.57 |
1.00 |
0.26 |
|
EARNING PER SHARE |
BAHT |
24.53 |
9.88 |
2.20 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.80 |
0.83 |
0.81 |
|
DEBT TO EQUITY RATIO |
TIMES |
4.04 |
4.97 |
4.36 |
|
TIME INTEREST EARNED |
TIMES |
5.48 |
2.64 |
1.67 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(7.19) |
54.58 |
|
|
OPERATING PROFIT |
% |
49.71 |
120.03 |
|
|
NET PROFIT |
% |
148.30 |
349.93 |
|
|
FIXED ASSETS |
% |
(8.11) |
2.93 |
|
|
TOTAL ASSETS |
% |
(3.10) |
18.55 |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is -7.19%. Turnover has decreased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
24.25 |
Deteriorated |
Industrial
Average |
50.27 |
|
Net Profit Margin |
1.94 |
Deteriorated |
Industrial
Average |
5.56 |
|
Return on Assets |
2.57 |
Deteriorated |
Industrial
Average |
8.40 |
|
Return on Equity |
12.95 |
Acceptable |
Industrial
Average |
24.10 |
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 24.25%. 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 1.94%.
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 2.57%.
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 12.95%.
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 |
1.33 |
Impressive |
Industrial
Average |
1.28 |
|
Quick Ratio |
0.43 |
|
|
|
|
Cash Conversion Cycle |
124.70 |
|
|
|
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 1.33 times in 2012, decreased from 1.36 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 0.43 times in 2012,
decreased from 0.45 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 125 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.80 |
Acceptable |
Industrial
Average |
0.63 |
|
Debt to Equity Ratio |
4.04 |
Risky |
Industrial
Average |
1.73 |
|
Times Interest Earned |
5.48 |
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 higher the percentage means that the company is using less
equity and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 5.49 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 0.8 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
5.34 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.33 |
Satisfactory |
Industrial
Average |
1.51 |
|
Inventory Conversion Period |
148.43 |
|
|
|
|
Inventory Turnover |
2.46 |
Satisfactory |
Industrial
Average |
3.01 |
|
Receivables Conversion Period |
58.01 |
|
|
|
|
Receivables Turnover |
6.29 |
Impressive |
Industrial
Average |
3.80 |
|
Payables Conversion Period |
81.75 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.29 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 148 days at the
end of 2011 to 148 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 2.46 times in year 2011 to 2.46 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.33 times and 1.39
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.60.03 |
|
|
1 |
Rs.101.96 |
|
Euro |
1 |
Rs.83.58 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
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.