MIRA
INFORM REPORT
|
Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
KHONKAEN GLASS
INDUSTRY COMPANY LIMITED |
|
|
|
|
Registered Office : |
32nd Floor,
Ocean Tower 1
Building, 170/87 New Ratchadapisek Road, Klongtoey, Bangkok
10110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.11.2006 |
|
|
|
|
Com. Reg. No.: |
0105549129832 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged in manufacturing and
distributing various styles
of standard glass
bottles with the
production capacity of
266,500,000 bottles per
annum |
|
|
|
|
No. of Employees |
200 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
THAILAND - ECONOMIC OVERVIEW
With a well-developed infrastructure,
a free-enterprise economy, generally pro-investment policies, and strong export
industries, Thailand achieved steady growth due largely to industrial and
agriculture exports - mostly electronics, agricultural commodities, automobiles
and parts, and processed foods. Unemployment, at less than 1% of the labor
force, stands as one of the lowest levels in the world, which puts upward
pressure on wages in some industries. Thailand also attracts nearly 2.5 million
migrant workers from neighboring countries. The Thai government in 2013
implemented a nation-wide 300 baht ($10) per day minimum wage policy and
deployed new tax reforms designed to lower rates on middle-income earners. The
Thai economy has weathered internal and external economic shocks in recent
years. The global economic recession severely cut Thailand's exports, with most
sectors experiencing double-digit drops. In late 2011 Thailand's recovery was
interrupted by historic flooding in the industrial areas in Bangkok and its
five surrounding provinces, crippling the manufacturing sector. The government
approved flood mitigation projects worth $11.7 billion, which were started in
2012, to prevent similar economic damage, and an additional $75 billion for
infrastructure over the following seven years. This was expected to lead to an
economic upsurge but growth has remained slow, in part due to ongoing political
unrest and resulting uncertainties. Spending on infrastructure will require
re-approval once a new government is seated
|
Source
: CIA |
Company name
KHONKAEN
GLASS INDUSTRY COMPANY
LIMITED
SUMMARY
BUSINESS
ADDRESS : 32nd FLOOR,
OCEAN TOWER 1
BUILDING,
170/87 NEW
RATCHADAPISEK ROAD,
KLONGTOEY, BANGKOK
10110, THAILAND
TELEPHONE : [66] 2648-6100
FAX :
[66] 2648-6198
E-MAIL
ADDRESS : marketing@bgiglass.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2006
REGISTRATION
NO. : 0105549129832
TAX
ID NO. : 3032416092
CAPITAL REGISTERED : BHT. 900,000,000
CAPITAL PAID-UP : BHT.
900,000,000
SHAREJOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SURASAK DECHARIN,
THAI
PRESIDENT
NO.
OF STAFF : 200
LINES
OF BUSINESS : STANDARD GLASS
BOTTLES
MANUFACTURER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on November 1,
2006 as a
private limited company under
the name style KHONKAEN GLASS
INDUSTRY COMPANY LIMITED
by Thai groups,
with the business
objective to manufacture
and distribute various
styles of glass
bottle to domestic
market. It currently
employs approximately 200
staff.
Subject
was a joint
investment between Bangkok
Glass Company Limited and Khonkaen Brewery
Co., Ltd., which
were holding around
51% and 49% of
the subject’s shares respectively. However,
it currently becomes a
wholly owned subsidiary
of Bangkok Glass
Public Company Limited,
which is a
member of the
Boonrawd Group.
The
subject’s registered address
is 32nd Floor,
Ocean Tower 1
Bldg., 170/87 New
Ratchadapisek Rd., Klongtoey,
Bangkok 10110, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Pawin Bhirombhakdi |
|
Thai |
39 |
|
Mr. Surasak Decharin |
|
Thai |
66 |
|
Mr. Somporn Temudomsomboon |
|
Thai |
54 |
|
Mrs. Amarat Puvaveeranin |
|
Thai |
57 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Surasak Decharin is
the President.
He is Thai
nationality with the
age of 66
years old.
Mr. Pawin Bhirombhakdi is
the Vice President.
He is Thai
nationality with the
age of 39
years old.
Mr. Santipab Monthon is
the Administration Manager.
He is Thai
nationality.
Mrs. Amarat Puveeranin is
the Personnel and
Accounting Manager.
She is Thai
nationality with the
age of 57
years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and distributing various
styles of standard
glass bottles with
the production capacity
of 266,500,000 bottles
per annum.
The subject is also
operating in resort business, namely “WISHING TREE KHON
KAEN RESORT”, the
five-star level resort
which has 48
rooms, as well
as resort’s facilities. It has
4 room types,
consists of 24 deluxe
rooms, 12 junior sweet
rooms, 8 villas
and 4 pool
villas available.
PURCHASE
Most of raw
materials are purchased
from local suppliers,
the remaining are
imported from U.S.A., Republic
of China, India
and Germany.
MAJOR SUPPLIER
Bangkok Glass Industry
Company Limited
SALES
100% of the
products is sold
locally to Khonkaen
Brewery Co., Ltd.
RELATED AND AFFILIATED
COMPANIES
Khonkaen Brewery Co.,
Ltd.
Business Type :
Manufacturer of beer
products
Rayong Glass Industry
Co., Ltd.
Business Type :
Manufacturer of glass
bottles
Prachinburi Glass Industry
Co., Ltd.
Business Type :
manufacturer of glass
bottles
Ayutthaya Glass Industry
Co., Ltd.
Business Type :
Manufacturer of glass
bottles
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
according for the
past two years.
CREDIT
Sales are by
cash or on the credits
term of 30-60
days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
L/C at sight
or T/T.
BANKING
Kasikornbank Bank Public
Co., Ltd.
Bangkok Bank Public
Co., Ltd.
Krung Thai Bank
Public Co., Ltd.
EMPLOYMENT
The
subject employs approximately
200 office staff
and factory workers,
comprises of 150
glass production staff
and 50 resort
staff.
LOCATION DETAILS
The
premise is owned
administrative office at
the heading address.
Premise is located
in commercial/residential area.
Factory
and warehouse are
located at 111
Moo 19, 208 Rd.,
T. Thaphra, A.
Muang,
Khonkaen
40260.
Tel. : [66]
43 341-344, 43
261-738, 349-900-14
Fax :
[66] 43 261-738,
349-904
The resort is located at 114/1 Moo 5,
T. Thapra, A. Muang, Khon
Kaen 40260.
Tel. : [66]
43 209-333
Fax : [66]
43 209-346
COMMENT
The subject is
a manufacturer and distributor
of glass bottle for Khonkaen Brewery
Co., Ltd. Subject
has strong production capability in
order to serve strong demand
with high technology
processing.
Subject’s
business performance remains
upbeat as its products
have been used
as a glass bottle of
beer. Domestic sales
also maintain at
strong level. Its business
is expanding steadily.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 600,000,000
divided into 6,000,000
shares of Bht.
100 each.
On
June 30, 2008, the
capital was increased
to Bht. 900,000,000 divided
into 9,000,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[as
at April 4,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Bangkok Glass Public
Company Limited Nationality: Thai Address : 170/87
New Ratchadapisek Rd.,
Klongtoey, Bangkok |
8,999,998 |
100.00 |
|
Mr. Surasak Decharin Address :
114 Soi Ramindra 67
Yaek 4, Kannayao,
Bangkok |
1 |
- |
|
Mr. Pawin Bhirombhakdi Nationality: Thai Address : 563
Ramkhamhaeng Rd., Huamark,
Bangkapi, Bangkok |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 4,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
9,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
9,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Poonnart Phaocharoen No.
5238
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
7,094,004 |
3,922,865 |
6,009,427 |
|
Trade Accounts & Other Receivable |
174,293,293 |
134,441,715 |
197,159,620 |
|
Loan to Parent
Company |
- |
- |
107,000,000 |
|
Short-term Lending to Related
Company |
- |
40,138,130 |
40,426,593 |
|
Inventories |
211,372,314 |
216,553,473 |
192,866,216 |
|
Refundable Value Added
Tax |
1,363,979 |
59,957 |
- |
|
Refundable Import Duty |
4,746,496 |
6,151,244 |
8,955,161 |
|
Other Current Assets
|
3,351,267 |
11,175,008 |
33,480,515 |
|
|
|
|
|
|
Total Current Assets
|
402,221,353 |
412,442,392 |
585,897,532 |
|
Investment in Subsidiary |
- |
130,000,000 |
130,000,000 |
|
Other Long-term Investment |
3,393,117 |
3,870,200 |
2,804,400 |
|
Fixed Assets |
2,033,906,754 |
2,101,923,730 |
2,282,460,174 |
|
Computer Programme |
6,309,803 |
6,219,100 |
7,677,915 |
|
Deposit |
231,859 |
451,892 |
423,892 |
|
Deferred Income Tax |
1,356,717 |
155,758 |
- |
|
Total Assets |
2,447,419,603 |
2,655,063,072 |
3,009,263,913 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Short-term Loan from Bank |
669,000,000 |
632,000,000 |
750,000,000 |
|
Trade Accounts & Other Payable
|
203,605,140 |
202,801,935 |
201,632,217 |
|
Current Portion of Long-term
Loan from Bank |
199,000,000 |
340,000,000 |
330,000,000 |
|
Accrued Income Tax |
- |
2,163,501 |
402,660 |
|
Other Current Liabilities |
4,668,541 |
3,831,256 |
2,573,784 |
|
|
|
|
|
|
Total Current Liabilities |
1,076,273,681 |
1,180,796,692 |
1,284,608,661 |
|
Long-term Loan from Bank, Net
of Current Portion |
401,000,000 |
100,000,000 |
440,000,000 |
|
Provision for Long-term
Employee Benefits |
3,342,472 |
2,130,164 |
1,500,000 |
|
Total Liabilities |
1,480,616,153 |
1,282,926,856 |
1,726,108,661 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 9,000,000 shares |
900,000,000 |
900,000,000 |
900,000,000 |
|
|
|
|
|
|
Capital Paid |
900,000,000 |
900,000,000 |
900,000,000 |
|
Retained Earnings: Appropriated for Statutory Reserve |
47,358,000 |
18,458,000 |
9,758,000 |
|
General Reserve |
7,400,000 |
- |
- |
|
Unappropriated |
11,360,932 |
452,171,087 |
373,111,069 |
|
Unrealized Profit from
Change in Value of
Investment |
684,518 |
1,081,096 |
286,183 |
|
Total Shareholders' Equity |
966,803,450 |
1,372,136,216 |
1,283,155,252 |
|
Total Liabilities & Shareholders' Equity |
2,447,419,603 |
2,655,063,072 |
3,009,263,913 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Sales Income |
2,263,959,420 |
2,253,966,165 |
2,001,902,086 |
|
Revenue from Hotel Operations |
4,035,153 |
- |
- |
|
Interest Income |
1,130,718 |
4,670,535 |
1,199,376 |
|
Gain on Exchange Rate |
- |
114,698 |
243,164 |
|
Other Income |
10,064,493 |
7,064,456 |
3,860,242 |
|
Total Revenues |
2,279,189,784 |
2,265,815,854 |
2,007,204,868 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,976,688,809 |
1,967,623,254 |
1,668,660,885 |
|
Cost of Services |
3,255,893 |
- |
- |
|
Selling Expenses |
15,980,526 |
12,926,401 |
29,553,751 |
|
Administrative Expenses |
149,869,451 |
79,529,341 |
73,013,639 |
|
Loss on Transfer |
62,430,593 |
- |
- |
|
Total Expenses |
2,208,225,272 |
2,060,078,996 |
1,771,228,275 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
70,964,512 |
205,736,858 |
235,976,593 |
|
Financial Costs |
[40,521,153] |
[55,277,792] |
[61,336,297] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
30,443,359 |
150,459,066 |
174,640,296 |
|
Income Tax |
[1,120,453] |
[2,573,015] |
[420,175] |
|
|
|
|
|
|
Net Profit / [Loss] |
31,563,812 |
147,886,051 |
174,220,121 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.37 |
0.35 |
0.46 |
|
QUICK RATIO |
TIMES |
0.17 |
0.15 |
0.27 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.11 |
1.07 |
0.88 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.93 |
0.85 |
0.67 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
38.97 |
40.17 |
42.19 |
|
INVENTORY TURNOVER |
TIMES |
9.37 |
9.09 |
8.65 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
28.10 |
21.77 |
35.95 |
|
RECEIVABLES TURNOVER |
TIMES |
12.99 |
16.77 |
10.15 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
37.53 |
37.62 |
44.10 |
|
CASH CONVERSION CYCLE |
DAYS |
29.53 |
24.32 |
34.03 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
87.45 |
87.30 |
83.35 |
|
SELLING & ADMINISTRATION |
% |
7.33 |
4.10 |
5.12 |
|
INTEREST |
% |
1.79 |
2.45 |
3.06 |
|
GROSS PROFIT MARGIN |
% |
13.22 |
13.23 |
16.91 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.13 |
9.13 |
11.79 |
|
NET PROFIT MARGIN |
% |
1.39 |
6.56 |
8.70 |
|
RETURN ON EQUITY |
% |
3.26 |
10.78 |
13.58 |
|
RETURN ON ASSET |
% |
1.29 |
5.57 |
5.79 |
|
EARNING PER SHARE |
BAHT |
3.51 |
16.43 |
19.36 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.60 |
0.48 |
0.57 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.53 |
0.93 |
1.35 |
|
TIME INTEREST EARNED |
TIMES |
1.75 |
3.72 |
3.85 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
0.44 |
12.59 |
|
|
OPERATING PROFIT |
% |
(65.51) |
(12.81) |
|
|
NET PROFIT |
% |
(78.66) |
(15.12) |
|
|
FIXED ASSETS |
% |
(3.24) |
(7.91) |
|
|
TOTAL ASSETS |
% |
(7.82) |
(11.77) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is 0.44%. Turnover
has increased from THB 2,253,966,165.00 in 2012 to THB 2,263,959,420.00 in
2013. While net profit has decreased from THB 147,886,051.00 in 2012 to THB
31,563,812.00 in 2013. And total assets has decreased from THB 2,655,063,072.00
in 2012 to THB 2,447,419,603.00 in 2013.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
13.22 |
Impressive |
Industrial
Average |
4.56 |
|
Net Profit Margin |
1.39 |
Deteriorated |
Industrial
Average |
2.98 |
|
Return on Assets |
1.29 |
Acceptable |
Industrial
Average |
2.57 |
|
Return on Equity |
3.26 |
Acceptable |
Industrial
Average |
4.68 |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from revenues after accounting for the
cost of goods sold. Gross profit margin serves as the source for paying
additional expenses and future savings. The company’s figure is 13.22%. 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 1.39%.
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 1.29%.
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 3.26%.
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 |
0.37 |
Risky |
Industrial
Average |
1.21 |
|
Quick Ratio |
0.17 |
|
|
|
|
Cash Conversion Cycle |
29.53 |
|
|
|
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 0.37 times in 2013, increased from 0.35 times, then the company may not be
efficiently using its current assets. When compared with the industry average,
the ratio of the company was lower.
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 0.17 times in
2013, increased from 0.15 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 30 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.60 |
Acceptable |
Industrial
Average |
0.57 |
|
Debt to Equity Ratio |
1.53 |
Risky |
Industrial
Average |
1.03 |
|
Times Interest Earned |
1.75 |
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 1.76 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 0.6 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 |
1.11 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.93 |
Satisfactory |
Industrial
Average |
1.08 |
|
Inventory Conversion Period |
38.97 |
|
|
|
|
Inventory Turnover |
9.37 |
Impressive |
Industrial
Average |
8.22 |
|
Receivables Conversion Period |
28.10 |
|
|
|
|
Receivables Turnover |
12.99 |
Impressive |
Industrial
Average |
6.67 |
|
Payables Conversion Period |
37.53 |
|
|
|
The company's Account Receivable Ratio is calculated as 12.99 and 16.77
in 2013 and 2012 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate revenue. 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 2013
decreased from 2012. 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 decreased from 40 days at the
end of 2012 to 39 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 9.09 times in year 2012 to 9.37 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.93 times and 0.85
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.58.58 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.