MIRA
INFORM REPORT
|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
TERINEX SIAM
COMPANY LIMITED |
|
|
|
|
Registered Office : |
899/31-36 Moo 21, Soi Teedinthai [Chongsiri Park
Land], Klong Ar-Zeer
Road, T. Bangpleeyai, A. Bangplee, Samutprakarn 10540 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
10.03.1988 |
|
|
|
|
Com. Reg. No.: |
0105531017277 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
engaged in manufacturing, distributing and
exporting various kinds
of catering and
other related products
to various businesses,
such as hotel & restaurant, hospital
& department store, fast food center, service station,
catering and airline
businesses. |
|
|
|
|
No of Employees : |
90
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 is implementing a nation-wide 300 baht ($10) per day minimum wage
policy and deploying 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.
|
Source : CIA |
Company name
TERINEX SIAM
COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 899/31-36 MOO
21, SOI TEEDINTHAI
[CHONGSIRI
PARK LAND], KLONG AR-ZEER ROAD,
T.
BANGPLEEYAI, A. BANGPLEE,
SAMUTPRAKARN 10540,
THAILAND
TELEPHONE : [66] 2181-9718
FAX :
[66] 2181-9717
E-MAIL
ADDRESS : terinexs@loxinfo.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1988
REGISTRATION
NO. : 0105531017277
TAX
ID NO. : 3101505689
CAPITAL REGISTERED : BHT. 20,000,000
CAPITAL PAID-UP : BHT.
20,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
ADUL AMATAVIVAT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 90
LINES
OF BUSINESS : CATERING AND
RELATED PRODUCTS
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on March 10,
1988 as a
private limited company
under the registered
name TERINEX SIAM
COMPANY LIMITED, by
Thai group, with the
business objective to
manufacture and distribute
various kinds of
catering and other
related products to
both domestic and
international markets. It
currently employs approximately 90 staff.
The
subject’s registered address
was initially at
89 Moo 14, Soi
Kingkaew, Kingkaew Road,
T. Rachathewa, A. Bangplee, Samutprakarn
10540.
On
March 1, 2013,
the subject’s registered
address was relocated
to 899/31-36 Moo 21, Soi
Teedinthai [Chongsiri Park Land],
Klong Ar-Zeer Road,
T. Bangpleeyai, A. Bangplee, Samutprakarn
10540, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Adul Amatavivat |
|
Thai |
76 |
|
Mrs. Catherine Amatavivat |
|
Thai |
40 |
|
Mrs. Ratana Tokiatrungruang |
|
Thai |
63 |
|
Ms. Pana Tokiatrungruang |
|
Thai |
32 |
|
Ms. Nittaya Sasaneeyatham |
|
Thai |
55 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with company’s affixed.
MANAGEMENT
Mr. Adul Amatavivat is
the Managing Director.
He is Thai
nationality with the
age of 76
years old.
Mrs. Ratana Tokiatrungruang is
the Deputy Managing
Director.
She is Thai
nationality with the
age of 63
years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, distributing
and exporting various
kinds of catering
and other related
products to various
businesses, such as
hotel & restaurant, hospital & department store, fast
food center, service
station, catering and
airline businesses.
Its products
are as follows:
Product Brand
PVC or
LMF cling film
and aluminum foil “TOP WRAP”
LLDPE cling film
and aluminum foil “CHEF WRAP”
Roasting and microwave
bags “LOOK”
Baking parchment “BAKEWELL”
Paper napkins “TOPTABLE”
Drinking coasters
- Tissue or aerosorb
extra “TOPTABLE”
- Absorbent coasters “TOPTABLE”
Cake cases and
doyleys “TOPTABLE”
PURCHASE
Raw
materials such as
paper, LLDPE film
and PVC film
are purchased from
both local and
overseas suppliers, mainly
in Republic of
China, United Kingdom, Germany
and Taiwan.
MAJOR
SUPPLIER
Terinex
Ltd. : United Kingdom
SALES
80% of the
products is sold
locally to wholesalers,
retailers, and end-users,
the remaining 20%
is exported to
Japan, Hong Kong,
Singapore, Taiwan, Indonesia,
U.K., Malaysia, India
and Laos.
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
T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
The
Siam Commercial Bank
Public Co., Ltd.
EMPLOYMENT
The
subject currently employs
approximately 90 staff.
LOCATION
DETAILS
The
premise is owned for
administrative office, factory
and warehouse at the heading
address. Premise is
located in provincial,
on the outskirts
of Bangkok.
COMMENT
The subject is
a manufacturer, distributor
and exporter of
catering and related
products. Sales had been increased accordingly
to growing demand
of related businesses.
However,
current slow in
various businesses due
to economic sluggish has
resulted in declining
its sales but
expected to rebound
in the fourth
quarter of 2014.
FINANCIAL INFORMATION
The
capital was registered at
Bht. 2,000,000 divided into 20,000 shares
of Bht. 100 each
with fully paid.
The
capital was increased
later as follows:
Bht. 5,000,000 on August
3, 1992
Bht. 7,000,000 on May
11, 1995
Bht. 10,000,000 on
December 30, 1997
Bht. 20,000,000 on
April 28, 1999
The
latest registered capital
was increased to
Bht. 20,000,000 divided into 200,000
shares of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE : [as at
April 22, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Feeya Amatavivat Nationality: Thai Address : 173
Soi Arkarn Songkroh,
Thungwatdon,
Sathorn, Bangkok |
48,000 |
24.00 |
|
Ms. Thongpoon Amatavivat Nationality: Thai Address : 4
Soi Narathiwas Rachanakarin 10,
Thungwatdon, Sathorn, Bangkok |
45,000 |
22.50 |
|
Ms. Sumanajaree Tokiatrungruang Nationality: Thai Address : 248
Srinakarin Road, Nongbon,
Prawet, Bangkok |
44,000 |
22.00 |
|
Mr. Palarp Tokiatrungruang Nationality: Thai Address : 248
Srinakarin Road, Nongbon,
Prawet, Bangkok |
43,000 |
21.50 |
|
Mrs. Sunantha Sasaneeyatham Nationality: Thai Address : 12/1
Soi Sukhumvit 99,
Bangchak,
Prakanong, Bangkok |
13,000 |
6.50 |
|
Mrs. Junwendy Amatavivat Nationality: Thai Address : 419
Soi Panya Village,
Suanluang,
Bangkok |
2,000 |
1.00 |
|
Mr. Pornthut Amatavivat Nationality: Thai Address : 419
Soi Panya Village,
Suanluang, Bangkok |
2,000 |
1.00 |
|
|
|
|
|
Mrs. Catherine Amatavivat Nationality: Thai Address : 419
Soi Panya Village,
Suanluang,
Bangkok |
2,000 |
1.00 |
|
Mrs. Mayures Thobious Nationality: Thai Address : 82/33
Moo 10, Suanphak
Road,
Talingchan, Bangkok |
1,000 |
0.50 |
Total Shareholders : 9
Share Structure [as
at April 22,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
9 |
200,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
9 |
200,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sumit Cholpaiboon No.
4885
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
|
13,934,034.27 |
28,004,227.51 |
27,926,819.79 |
|
Short-term Investment |
20,644,106.74 |
20,290,982.59 |
20,216,914.10 |
|
Trade Accounts Receivable
|
50,848,413.21 |
43,862,697.51 |
39,194,727.65 |
|
Other Receivable - Refundable
Import Duty |
6,163,568.93 |
5,818,708.87 |
5,541,134.24 |
|
- Advance
Payment for Goods |
2,326,131.38 |
2,127,202.97 |
448,334.40 |
|
- Others |
562,252.10 |
810,691.70 |
354,931.27 |
|
Inventories |
38,174,126.72 |
27,401,394.61 |
20,801,041.79 |
|
Other Current Assets
|
223,815.07 |
18,973.60 |
19,215.90 |
|
|
|
|
|
|
Total Current Assets
|
132,876,448.42 |
128,334,879.36 |
114,503,119.14 |
|
Long-term Investment |
4,016,153.03 |
592,137.60 |
587,870.36 |
|
Equipment |
15,523,647.89 |
16,607,376.61 |
15,628,940.34 |
|
Intangible Assets |
83,752.10 |
150,294.69 |
222,274.67 |
|
Other Non-current Assets - Deposit
for Purchase of Land
& Building |
22,149,532.70 |
- |
- |
|
- Other
Deposit |
1,203,047.15 |
1,091,872.29 |
1,444,032.49 |
|
Total Assets |
175,852,581.29 |
146,776,560.55 |
132,386,237.00 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Account Payable |
9,828,710.97 |
10,278,107.29 |
10,335,282.90 |
|
Other Payable - Accrued
Expenses |
6,910,737.70 |
6,991,150.06 |
6,437,234.68 |
|
- Others |
1,330,158.58 |
814,887.55 |
1,540,249.52 |
|
Accrued Income Tax |
6,924,977.58 |
7,457,386.58 |
6,865,310.81 |
|
Other Current Liabilities |
1,233,817.44 |
613,796.40 |
794,702.51 |
|
|
|
|
|
|
Total Current Liabilities |
26,228,402.27 |
26,155,327.88 |
25,972,780.42 |
|
Employee Benefit Obligation |
663,600.00 |
402,615.52 |
- |
|
Total Liabilities |
26,892,002.27 |
26,557,943.40 |
25,972,780.42 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 per
par value authorized, issued
and fully paid
share capital 200,000
shares |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
|
|
|
|
|
Capital Paid |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
Retained Earning
Appropriated for - Statutory Reserve
|
2,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
Unappropriated [Deficit] |
126,960,579.02 |
98,218,617.15 |
84,413,456.58 |
|
Total Shareholders' Equity |
148,960,579.02 |
120,218,617.15 |
106,413,456.58 |
|
Total Liabilities & Shareholders'
Equity |
175,852,581.29 |
146,776,560.55 |
132,386,237.00 |
PROFIT & LOSS ACCOUNT
|
Sale |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
271,079,291.16 |
237,242,387.55 |
208,825,721.84 |
|
Other Income - Gain
on Exchange Rate |
219,407.95 |
448,379.85 |
177,869.78 |
|
- Others |
1,467,096.55 |
932,057.61 |
755,227.57 |
|
Total Sales |
272,765,795.66 |
238,622,825.01 |
209,758,819.19 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
187,570,896.69 |
165,641,322.96 |
145,535,265.08 |
|
Selling Expenses |
19,148,847.07 |
16,423,385.95 |
14,502,075.44 |
|
Administrative Expenses |
15,437,535.21 |
14,633,586.24 |
14,587,055.05 |
|
Total Expenses |
222,157,278.97 |
196,698,295.15 |
174,624,395.57 |
|
|
|
|
|
|
Profit / [Loss] before Income Tax
|
50,608,516.69 |
41,924,529.86 |
35,134,423.62 |
|
Income Tax |
[11,866,554.82] |
[12,827,980.93] |
[10,736,469.77] |
|
Net Profit / [Loss] |
38,741,961.87 |
29,096,548.93 |
24,397,953.85 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
5.07 |
4.91 |
4.41 |
|
QUICK RATIO |
TIMES |
3.60 |
3.86 |
3.61 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
17.46 |
14.29 |
13.36 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.54 |
1.62 |
1.58 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
74.28 |
60.38 |
52.17 |
|
INVENTORY TURNOVER |
TIMES |
4.91 |
6.04 |
7.00 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
68.47 |
67.48 |
68.51 |
|
RECEIVABLES TURNOVER |
TIMES |
5.33 |
5.41 |
5.33 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
19.13 |
22.65 |
25.92 |
|
CASH CONVERSION CYCLE |
DAYS |
123.62 |
105.22 |
94.76 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
69.19 |
69.82 |
69.69 |
|
SELLING & ADMINISTRATION |
% |
12.76 |
13.09 |
13.93 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
31.43 |
30.76 |
30.75 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
18.67 |
17.67 |
16.82 |
|
NET PROFIT MARGIN |
% |
14.29 |
12.26 |
11.68 |
|
RETURN ON EQUITY |
% |
26.01 |
24.20 |
22.93 |
|
RETURN ON ASSET |
% |
22.03 |
19.82 |
18.43 |
|
EARNING PER SHARE |
BAHT |
193.71 |
145.48 |
121.99 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.15 |
0.18 |
0.20 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.18 |
0.22 |
0.24 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
14.26 |
13.61 |
|
|
OPERATING PROFIT |
% |
20.71 |
19.33 |
|
|
NET PROFIT |
% |
33.15 |
19.26 |
|
|
FIXED ASSETS |
% |
(6.53) |
6.26 |
|
|
TOTAL ASSETS |
% |
19.81 |
10.87 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 14.26%. Turnover has increased from THB
237,242,387.55 in 2011 to THB 271,079,291.16 in 2012. While net profit has
increased from THB 29,096,548.93 in 2011 to THB 38,741,961.87 in 2012. And
total assets has increased from THB 146,776,560.55 in 2011 to THB
175,852,581.29 in 2012.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
31.43 |
Impressive |
Industrial Average |
13.96 |
|
Net Profit Margin |
14.29 |
Impressive |
Industrial Average |
4.30 |
|
Return on Assets |
22.03 |
Impressive |
Industrial Average |
5.20 |
|
Return on Equity |
26.01 |
Impressive |
Industrial Average |
10.67 |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from sales 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 31.43%. 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 14.29%,
higher figure when compared with those of its average competitors in the
same industry, indicated that business was an efficient operator in a dominant position within its industry.
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. Return on Assets ratio is
22.03%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit in a dominant position within its industry.
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. Return on Equity ratio
is 26.01%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit in a dominant position within its industry.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
5.07 |
Impressive |
Industrial Average |
1.12 |
|
Quick Ratio |
3.60 |
|
|
|
|
Cash Conversion Cycle |
123.62 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets
are readily available to pay off its short-term liabilities. The company's figure
is 5.07 times in 2012, increased from 4.91 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was higher, indicated that company
was an efficient operator in a dominant position within its industry.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 3.6 times in 2012,
decreased from 3.86 times, although excluding inventory so the company still
have good short-term financial strength.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 124 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.15 |
Impressive |
Industrial Average |
0.50 |
|
Debt to Equity Ratio |
0.18 |
Impressive |
Industrial Average |
1.02 |
|
Times Interest Earned |
- |
|
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.15 less than 0.5, most of the company's
assets are financed through equity.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
17.46 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.54 |
Impressive |
Industrial Average |
1.21 |
|
Inventory Conversion Period |
74.28 |
|
|
|
|
Inventory Turnover |
4.91 |
Satisfactory |
Industrial Average |
5.79 |
|
Receivables Conversion Period |
68.47 |
|
|
|
|
Receivables Turnover |
5.33 |
Impressive |
Industrial Average |
2.36 |
|
Payables Conversion Period |
19.13 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.33 and 5.41 in
2012 and 2011 respectively. This ratio measures the efficiency of the company in
managing its trade debtors to generate sale. A lower ratio may indicate over
extension and collection problems. Conversely, a higher ratio may indicate an
overtly stringent policy. In this case, the company's A/R ratio in 2012
decreased from 2011. This would suggest the company had deteriorated in the
management of its debt collections.
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 60 days at the end of 2011 to 74
days at the end of 2012. This represents a negative trend. And Inventory
turnover has decreased from 6.04 times in year 2011 to 4.91 times in year 2012.
The company's Total Asset Turnover is calculated as 1.54 times and 1.62
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.58.48 |
|
UK Pound |
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MNL |
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.