MIRA
INFORM REPORT
|
Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADVANCE FIBER CO., LTD. |
|
|
|
|
Registered Office : |
18th Floor, Vorasombat Building, 100/1 Rama 9 Road, Huaykwang, Bangkok 10320 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
11.04.2005 |
|
|
|
|
Com. Reg. No.: |
0105548050353 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer and Distributor of particle board and veneer products made from Medium Density Fiberboard [MDF] and Primed Medium Density Fiberboard [Primed MDF] |
|
|
|
|
No of Employees : |
180 |
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 |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
ADVANCE
FIBER CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 18th FLOOR, VORASOMBAT
BUILDING,
100/1 RAMA
9 ROAD, HUAYKWANG,
BANGKOK 10320,
THAILAND
TELEPHONE : [66] 2645-1062-8
FAX :
[66] 2645-1069,
2245-6444
E-MAIL
ADDRESS : sales@advance-fiber.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2005
REGISTRATION
NO. : 0105548050353
TAX
ID NO. : 3031781450
CAPITAL REGISTERED : BHT. 500,000,000
CAPITAL PAID-UP : BHT.
500,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
NARONG PIYASOMBATKUL, THAI
PRESIDENT
NO.
OF STAFF : 180
LINES
OF BUSINESS : WOODEN FLOOR
PRODUCTS
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
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 April 11,
2005 as a
private limited company under
the name style ADVANCE
FIBER CO., LTD., by
Thai group, Piyasombatkul
family, in order to manufacture
and service of
wooden floor products
to both domestic and
international markets. It
currently employs approximately
180 staff.
The subject’s registered
address is 18th Flr.,
Vorasombat Bldg., 100/1 Rama 9 Rd., Huaykwang,
Bangkok 10320, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Narong Piyasombatkul |
|
Thai |
55 |
|
Mr. Chatchai Piyasombatkul |
|
Thai |
53 |
|
Ms. Laksamee Piyasombatkul |
|
Thai |
50 |
|
Mr. Piya Piyasombatkul |
|
Thai |
48 |
|
Ms. Yaowalak Piyasombatkul |
|
Thai |
44 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Narong Piyasombatkul is
the President.
He is Thai
nationality with the
age of 55 years
old.
Mr. Piya Piyasombatkul is
the Managing Director.
He is Thai
nationality with the
age of 48 years
old.
BUSINESS OPERATIONS
The subject operates
as a manufacturer and distributor
of particle board
and veneer products
made from Medium
Density Fiberboard [MDF] and
Primed Medium Density
Fiberboard [Primed MDF], under
the brand ADVANCE
FIBER.
PRODUCTION CAPACITY
Approximately 264,000 cubic
meters per annum
PURCHASE
100% of raw
material is purchased
from local supplier,
while machinery and
equipment are imported
from Germany and
Republic of China.
SALES
80% of the
products is sold
locally by wholesale
to dealers, the
remaining 20% is
exported to Japan,
Korea, Singapore, Hong Kong, Republic of
China, Indonesia, India,
Australia, Malaysia, Taiwan,
and many countries
in Europe and Middle
East.
RELATED AND AFFILIATED COMPANIES
Metropolitan Plywood Co.,
Ltd.
Business Type : Manufacturer of plywood products
Metro Veneer Co.,
Ltd.
Business Type : Manufacturer and
distributor of teak
wood veneer products
Metro Fiber Co.,
Ltd.
Business Type : Manufacturer of
fibre board and
hard board
Metro Topwood Co.,
Ltd.
Business Type : Manufacturer and distributor of
veneer surfaced board
Metro Panel Co.,
Ltd.
Business Type : Manufacturer of
wooden door
H. T. L. Sawmill Co.,
Ltd.
Business Type : Manufacturer of
wooden products
NC-Ply Co., Ltd.
Business Type : Manufacturer of
door skin and
door products
Piyasombat Property Co.,
Ltd.
Business Type : Property business
Piyasombat Land Co.,
Ltd.
Business Type : Property business
Metro M.D.F. Co.,
Ltd.
Business Type : Manufacturer
of MDF board
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.
Exports are against
T/T.
BANKING
The Siam Commercial
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
approximately 180 staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Factory
is located at
111/11 Moo 4,
Saeng-xuto Rd., T. Thamaka,
A. Thamaka,
Kanchanaburi
71120. Tel.: [66]
34 542-140-9 Fax:
[66] 34 541-076.
COMMENT
The
subject belongs to Piyasombatkul family,
which has involved in
MDF board industry
for decades. Since
commencement subject has
strong business growth in
line with robust
growth of construction industry.
The products have
been widely used
in residences such
as town house, detached
house and condominium.
Growth was strong in
the past years,
meanwhile the current construction
industry is shrinking
from low purchasing
power and expansion of
property business.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided into 10,000
shares of Bht. 100
each.
On
December 21, 2005,
the capital was
increased to Bht.
500,000,000 divided into
5,000,000 shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Narong Piyasombatkul Nationality: Thai Address : 70 Soi Prachanukul 3, Ratchadapisek 66 Rd.,
Bangsue, Bangkok |
1,250,000 |
25,00 |
|
Mr. Chatchai Piyasombatkul Nationality: Thai Address : 74
Moo 2, Nonthaburi
1 Rd., T.
Bangkrasor, A. Muang, Nonthaburi |
1,250,000 |
25.00 |
|
Mr. Piya Piyasombatkul Nationality: Thai Address : 99/9
Moo 5, T. Waineo,
A. Thamaka, Kanchanburi |
1,250,000 |
25.00 |
|
Ms. Yaowalak Piyasombatkul Nationality: Thai Address : 39/5
Moo 4, T. Saiyai, A. Sainoi,
Nonthaburi |
624,999 |
12.50 |
|
Ms. Laksamee Piyasombatkul Nationality: Thai Address : 39/3
Moo 4, T. Saiyai, A. Sainoi, Nonthaburi |
624,999 |
12.50 |
|
Mrs. Jantana Piyasombatkul Nationality: Thai Address : 74
Moo 2, Nonthaburi
1 Rd., T. Bangkrasor, A.
Muang, Nonthaburi |
1 |
- |
|
Mrs. Chantana Piyasombatkul Nationality: Thai Address : 70 Soi Prachanukul 3, Ratchadapisek 66 Rd.,
Bangsue, Bangkok |
1 |
- |
Total Shareholders : 7
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
5,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
5,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Anupong Techa-amnuayporn No.
3700
BALANCE SHEET [BAHT]
The
latest financial figures published
as at December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash
and Cash Equivalents |
76,289,139.89 |
98,374,326.14 |
229,396,149.02 |
|
Trade
Accounts Receivable |
265,181,529.28 |
282,097,608.04 |
162,766,206.36 |
|
Inventories |
189,653,120.19 |
304,986,507.14 |
194,774,440.04 |
|
Other
Receivable |
19,149,560.66 |
12,406,352.19 |
11,650,351.75 |
|
Other
Current Assets |
14,942,490.37 |
9,499,621.65 |
15,127,123.24 |
|
|
|
|
|
|
Total
Current Assets |
565,215,840.39 |
707,364,415.16 |
613,714,270.41 |
|
Fixed Assets |
1,657,116,547.07 |
|
1,879,828,319.50 |
|
Intangible
Assets |
755,356.49 |
596,842.32 |
729,919.54 |
|
Deposit for Land |
40,000,000.00 |
40,000,000.00 |
40,000,000.00 |
|
Total
Assets |
2,263,387,743.95 |
2,510,244,191.14 |
2,534,272,509.45 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan
from Financial Institutions |
670,000,000.00 |
620,000,000.00 |
620,000,000.00 |
|
Trade
Accounts Payable |
362,599,516.01 |
308,431,193.66 |
265,722,208.38 |
|
Current
Portion of Long-term Loans |
208,000,000.00 |
208,000,000.00 |
208,000,000.00 |
|
Other
Payable |
98,788,269.09 |
170,955,878.31 |
110,574,239.25 |
|
Other
Non-current Liabilities |
378,721.29 |
231,855.84 |
331,168.19 |
|
|
|
|
|
|
Total Current Liabilities |
1,339,766,506.39 |
1,307,618,927.81 |
1,204,627,615.82 |
|
Long-term Loan from
Financial Institution, net |
119,583,112.30 |
327,583,112.30 |
535,583,112.30 |
|
Total
Liabilities |
1,459,349,618.69 |
1,635,202,040.11 |
1,740,210,728.12 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share
capital : Baht 100 par
value
authorized, issued and
fully
paid share capital
5,000,000 shares |
500,000,000.00 |
500,000,000.00 |
500,000,000.00 |
|
|
|
|
|
|
Capital Paid |
500,000,000.00 |
500,000,000.00 |
500,000,000.00 |
|
Retained Earning - Unappropriated |
304,038,125.26 |
375,042,151.03 |
294,061,781.33 |
|
Total Shareholders' Equity |
804,038,125.26 |
875,042,151.03 |
794,061,781.33 |
|
Total
Liabilities &
Shareholders'
Equity |
2,263,387,743.95 |
2,510,244,191.14 |
2,534,272,509.45 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales
Income |
2,784,126,041.92 |
2,656,315,434.57 |
2,594,075,723.85 |
|
Other
Income
Gain on Exchange
Rate |
15,699,036.80 |
15,039,619.36 |
5,969,871.83 |
|
Export Compensation Income |
9,553,052.50 |
6,030935.77 |
4,555,164.73 |
|
Interest Income |
813,603.98 |
597,281.92 |
320,301.04 |
|
Other Income |
6,562,039.14 |
4,190,258.73 |
1,418,814.82 |
|
Total
Revenues |
2,816,753,774.34 |
2,682,173,540.35 |
2,606,339,876.27 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost
of Goods Sold
|
2,318,690,353.16 |
2,091,925,864.75 |
1,884,583,907.36 |
|
Selling
Expenses |
496,981,148.31 |
446,593,756.77 |
455,063,587.48 |
|
Administrative Expenses |
44,738,187.45 |
30,521,329.95 |
40,948,104.20 |
|
Total Expenses |
2,860,409,688.92 |
2,569,040,951.44 |
2,380,595,599.04 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost
& Income Tax |
[43,655,914.58] |
113,132,588.91 |
225,744,277.23 |
|
Financial Costs |
[27,348,111.19] |
[32,152,219.21] |
[35,566,109.98] |
|
|
|
|
|
|
Profit / [Loss] before
Income Tax |
[71,004,025.77] |
80,980,369.70 |
190,178,167.25 |
|
Income Tax |
- |
- |
- |
|
|
|
|
|
|
Net
Profit / [Loss] |
[71,004,025.77] |
80,980,369.70 |
190,178,167.25 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.42 |
0.54 |
0.51 |
|
QUICK RATIO |
TIMES |
0.25 |
0.29 |
0.33 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.68 |
1.51 |
1.38 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.23 |
1.06 |
1.02 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
29.85 |
53.21 |
37.72 |
|
INVENTORY TURNOVER |
TIMES |
12.23 |
6.86 |
9.68 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
34.77 |
38.76 |
22.90 |
|
RECEIVABLES TURNOVER |
TIMES |
10.50 |
9.42 |
15.94 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
57.08 |
53.82 |
51.46 |
|
CASH CONVERSION CYCLE |
DAYS |
7.54 |
38.16 |
9.16 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
83.28 |
78.75 |
72.65 |
|
SELLING & ADMINISTRATION |
% |
19.46 |
17.96 |
19.12 |
|
INTEREST |
% |
0.98 |
1.21 |
1.37 |
|
GROSS PROFIT MARGIN |
% |
17.89 |
22.22 |
27.82 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(1.57) |
4.26 |
8.70 |
|
NET PROFIT MARGIN |
% |
(2.55) |
3.05 |
7.33 |
|
RETURN ON EQUITY |
% |
(8.83) |
9.25 |
23.95 |
|
RETURN ON ASSET |
% |
(3.14) |
3.23 |
7.50 |
|
EARNING PER SHARE |
BAHT |
(14.20) |
16.20 |
38.04 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.64 |
0.65 |
0.69 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.82 |
1.87 |
2.19 |
|
TIME INTEREST EARNED |
TIMES |
(1.60) |
3.52 |
6.35 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
4.81 |
2.40 |
|
|
OPERATING PROFIT |
% |
(138.59) |
(49.88) |
|
|
NET PROFIT |
% |
(187.68) |
(57.42) |
|
|
FIXED ASSETS |
% |
(5.97) |
(6.25) |
|
|
TOTAL ASSETS |
% |
(9.83) |
(0.95) |
|
ANNUAL GROWTH : RISKY
An annual sales growth is 4.81%. Turnover has increased from THB 2,656,315,434.57
in 2011 to THB 2,784,126,041.92 in 2012. While net profit has decreased from
THB 80,980,369.70 in 2011 to THB -71,004,025.77 in 2012. And total assets has
decreased from THB 2,510,244,191.14 in 2011 to THB 2,263,387,743.95 in 2012.
PROFITABILITY : ACCEPTABLE
PROFITABILITY RATIO
|
Gross Profit Margin |
17.89 |
Impressive |
Industrial Average |
16.52 |
|
Net Profit Margin |
(2.55) |
Deteriorated |
Industrial Average |
1.48 |
|
Return on Assets |
(3.14) |
Deteriorated |
Industrial Average |
1.47 |
|
Return on Equity |
(8.83) |
Deteriorated |
Industrial Average |
3.20 |
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. Gross Profit Margin is 17.89%. 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 -2.55%.
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 -3.14%.
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 -8.83%.
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 |
0.42 |
Risky |
Industrial Average |
0.95 |
|
Quick Ratio |
0.25 |
|
|
|
|
Cash Conversion Cycle |
7.54 |
|
|
|
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 0.42 times in 2012, decrease from 0.54 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 0.25 times in 2012,
decrease from 0.29 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 8 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.64 |
Acceptable |
Industrial Average |
0.52 |
|
Debt to Equity Ratio |
1.82 |
Risky |
Industrial Average |
1.09 |
|
Times Interest Earned |
(1.60) |
Risky |
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 -1.6 lower than 1, so the company is not generating
enough cash from EBIT to meet its interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.64 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 : EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.68 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.23 |
Impressive |
Industrial Average |
0.99 |
|
Inventory Conversion Period |
29.85 |
|
|
|
|
Inventory Turnover |
12.23 |
Impressive |
Industrial Average |
4.94 |
|
Receivables Conversion Period |
34.77 |
|
|
|
|
Receivables Turnover |
10.50 |
Impressive |
Industrial Average |
6.79 |
|
Payables Conversion Period |
57.08 |
|
|
|
The company's Account Receivable Ratio is calculated as 10.50 and 9.42
in 2012 and 2011 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 2012
increased from 2011. This would suggest the company had good performance 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 53 days at the
end of 2011 to 30 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 6.86 times in year 2011 to 12.23
times in year 2012.
The company's Total Asset Turnover is calculated as 1.23 times and 1.06
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
|
Key Areas |
Score |
Weight |
Weighted
Score |
|
LIQUIDITY RATIO |
1.33 |
25.00 |
33.25 |
|
ACTIVITY RATIO |
4.00 |
20.00 |
80.00 |
|
PROFITABILITY
RATIO |
1.00 |
25.00 |
25.00 |
|
LEVERAGE RATIO |
0.44 |
10.00 |
4.40 |
|
ANNUAL GROWTH |
0.80 |
20.00 |
16.00 |
|
Total Weight (excluding
- - Score) |
|
100.00 |
|
|
|
|
|
158.65 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.07 |
|
|
1 |
Rs. 99.20 |
|
Euro |
1 |
Rs. 80.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.