MIRA
INFORM REPORT
|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
I.S.A. VALUE CO., LTD. |
|
|
|
|
Registered Office : |
48, 50, 89, 91 Soi Bangkhunthien 14, Bangkhunthien Road, Samaedam, Bangkhunthien, Bangkok 10150, Thailand |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
23.06.2004 |
|
|
|
|
Com. Reg. No.: |
0105547084211 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in manufacturing and
servicing wide range
of tuna products,
consist of canned
tuna, tuna in glass jars,
canned sardines, canned
mackerels, canned pet
food, frozen tuna
loins |
|
|
|
|
No. of Employees |
4,900 |
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 |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
THAILAND ECONOMIC OVERVIEW
With a well-developed infrastructure, a free-enterprise economy, generally pro-investment policies, and strong export industries, Thailand achieved steady growth due largely to industrial and agriculture exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods. Unemployment, at less than 1% of the labor force, stands as one of the lowest levels in the world, which puts upward pressure on wages in some industries. Thailand also attracts nearly 2.5 million migrant workers from neighboring countries. The Thai government in 2013 implemented a nation-wide 300 baht ($10) per day minimum wage policy and deployed new tax reforms designed to lower rates on middle-income earners. The Thai economy has weathered internal and external economic shocks in recent years. The global economic recession severely cut Thailand's exports, with most sectors experiencing double-digit drops. In late 2011 Thailand's recovery was interrupted by historic flooding in the industrial areas in Bangkok and its five surrounding provinces, crippling the manufacturing sector. The government approved flood mitigation projects worth $11.7 billion, which were started in 2012, to prevent similar economic damage, and an additional $75 billion for infrastructure over the following seven years. This was expected to lead to an economic upsurge but growth has remained slow, in part due to ongoing political unrest and resulting uncertainties. Spending on infrastructure will require re-approval once a new government is seated
|
Source
: CIA |
Company name and address
I.S.A. VALUE CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 48, 50, 89, 91 SOI
BANGKHUNTHIEN 14,
BANGKHUNTHIEN ROAD,
SAMAEDAM, BANGKHUNTHIEN,
BANGKOK 10150,
THAILAND
TELEPHONE : [66] 2894-1234
FAX :
[66] 2416-8132-3,
2893-4820
E-MAIL
ADDRESS : info@isavalue.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2004
REGISTRATION
NO. : 0105547084211
TAX
ID NO. : 3380003074
CAPITAL REGISTERED : BHT. 1,000,000,000
CAPITAL PAID-UP : BHT.
1,000,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
POJ ARAMWATTANANONT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 4,900
LINES
OF BUSINESS : CANNED TUNA
AND RELATED PRODUCTS
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
LOW PERFORMANCE
HISTORY
The
subject was established
on June 23,
2004 as a
private limited company
under the name
style I.S.A. VALUE CO., LTD.,
by Thai groups,
to manufacture and
market wide range
of canned tuna
and related products
to both local
and overseas markets.
It currently employs
approximately 4,900 staff.
Subject
is a subsidiary
of Sea Value
Public Company Limited.
The
subject’s registered address
was initially at 101/6, 101/23-24, 101/39
Moo 6, Bangkhunthien Rd.,
Samaedam, Bangkhunthien, Bangkok
10150.
On
October 26, 2009,
the registered address
was changed from “101/6, 101/23-24, 101/39
Moo 6,” to “48, 50, 89, 91 Soi Bangkhunthien
14” by the
Government district office, actually
both are the
same location. This
is also the
subject’s current operation
address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Poj Aramwattananont |
[x] |
Thai |
56 |
|
Mrs. Vichitra Aramwattananont |
|
Thai |
61 |
|
Mr. Paibul Dusadeevuthikul |
[x] |
Thai |
56 |
|
Mr. Anchern Tangsombat |
[x] |
Thai |
62 |
|
Mr. Chang Yieng
Lee |
|
Chinese |
50 |
AUTHORIZED PERSON
Two of the
mentioned directors [x]
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Poj Aramwattananont is
the Managing Director.
He is Thai
nationality with the
age of 56 years
old.
Mr. Suchin Sawaengsin is
the Factory Manager.
He is Thai
nationality.
Ms. Apiradee Wangvongsorn is
the Sales &
Marketing Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and servicing wide
range of tuna
products, consist of
canned tuna, tuna
in glass jars,
canned sardines, canned
mackerels, canned pet
food, frozen tuna
loins and etc.,
under its own
brand “SUPER C
CHEF”, as well
as customer’s brands.
PRODUCTION
1,000 tons per
day
IMPORT
Tuna
and some food
ingredient are imported
from Japan, Malaysia,
Indonesia, Taiwan, Myanmar,
India, Vietnam and
Singapore.
MAJOR
SUPPLIERS
F.C.F.
Fishery Co., Ltd. : Taiwan
Itochu
Corp. Ltd. : Japan
SALES
50% of the products is sold and
serviced to local
customers, the remaining
50% is exported to Indonesia, Japan, Taiwan,
Malaysia, India, Sri Lanka,
France, United Kingdom, United
States of America, Canada,
Africa, Australia and
Middle East countries.
PARENT
COMPANY
Sea
Value Public Company
Limited
Business Type : Manufacturer of
seafood products
ASSOCIATED COMPANIES
Sea Value Public
Company Limited
Business Type : Manufacturer of
seafood products
Investment : The
subject holds 31%
of the company’s
shares.
T.C. Union Agrotech
Co., Ltd.
Business Type : Manufacturer
and distributor of aqua industrial by-products
Investment : The
subject holds 14%
of the company’s
shares.
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 credit terms
of 30-60 days.
Local bills are
paid by cash
or on the
credit terms of
30-60 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
4,900 office staff
and factory workers.
LOCATION
DETAILS
The
premise is rented
for administrative office
& factory 1 at the
heading address. Premise is
located in industrial
area.
Factory II
and warehouse are
located at 44/4
Moo 1, Petchkasem Rd.,
T. Yaita,
A. Sampran,
Nakornpathom 73110. Tel.:
[66] 34 323-988-9 Fax :
[66] 34 321-987
COMMENT
The company’s market
strategy is for
exporting canned tuna
to world market
which main markets
are Japan, U.S.A.,
Canada and Europe.
Tuna prices
have increased further for delivery to Asian canners, indicating lower supplies
than current demand. This rise may influence prices in other regions in Latin
America and Africa, as well as
resulting to the subject
operation as a
shortage supply and
canned tuna prices
increased.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100 each.
The
capital was increased
later as following:
Bht. 500,000,000 on
October 8, 2004
Bht. 750,000,000 on December 23,
2004
Bht. 1,000,000,000
on March 20,
2007
The
latest registered capital
was increased to
Bht. 1,000,000,000 divided into
10,000,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 25, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Sea Value Public
Company Limited Nationality: Thai Address : 91 Soi
Bangkhunthien 14, Bangkhunthien Rd.,
Samaedam, Bangkhunthien, Bangkok
|
9,999,994 |
100.00 |
|
Mr. Poj Aramwattananont Nationality: Thai Address : 437 Seri
6 Rd., Suanluang, Bangkok |
1 |
- |
|
Mr. Taweesak Laotrakul Nationality: Thai Address : 36/36 Moo 16,
Bangkaew, Bangplee, Samutprakarn |
1 |
- |
|
Mr. Paibul Dusadeevuthikul Nationality: Thai Address : 65 Soi
Chalaemnimit 5 Yaek 5,
Bangklo, Bangkorlaem, Bangkok
|
1 |
- |
|
Mrs. Vichitra Aramwattananont Nationality: Thai Address : 233/294 Moo 5,
Bangmuang, Muang, Samutprakarn
|
1 |
- |
|
Mr. Apichart Laotrakul Nationality: Thai Address : 89 Soi
Bangkhunthien 14, Bangkhunthien
Rd.,
Samaedam, Bangkhunthien, Bangkok
|
1 |
- |
Mr.
Udom Jariyavilaskul
Nationality: Thai Address : 236/36 Sukhumvit
68 Rd., Bangna,
Bangkok |
1 |
- |
Total Shareholders : 7
Share Structure [as
at April 25,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
10,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
10,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sahas Prairatanakorn No.
3105
BALANCE SHEET [BAHT
The
latest financial figures
published for December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
66,683,309.95 |
57,675,428.34 |
99,053,271.82 |
|
Trade Accounts & Other Receivable |
1,112,718,884.52 |
1,363,658,071.89 |
1,808,024,642.35 |
|
Short-term Loan |
8,500,000.00 |
- |
- |
|
Inventories |
3,341,830,422.78 |
4,236,259,461.71 |
3,394,181,661.79 |
|
|
|
|
|
|
Total Current Assets
|
4,529,732,617.25 |
5,657,592,961.94 |
5,301,259,575.96 |
|
Cash at Bank pledged as a Collateral |
400,588,991.80 |
391,468,334.35 |
369,141,101.33 |
|
Investment in Associated |
69,798,000.00 |
69,798,000.00 |
69,798,000.00 |
|
Investment in Parent Company |
868,405,831.33 |
868,405,831.33 |
868,405,831.33 |
|
Fixed Assets |
787,352,261.60 |
809,616,851.44 |
762,314,953.50 |
|
Goodwill |
291,018,840.00 |
332,592,960.00 |
374,167,080.00 |
|
Deferred Income Tax |
18,157,193.32 |
20,543,347.61 |
- |
|
Total Assets |
6,965,053,735.30 |
8,150,018,286.67 |
7,745,086,542.12 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
4,256,373,802.80 |
5,024,058,623.42 |
4,704,188,224.89 |
|
Trade Accounts & Other Payable |
883,788,078.48 |
1,495,205,049.62 |
1,546,008,208.02 |
|
Current Portion of Hire-purchase Payable |
5,100,482.12 |
888,139.00 |
1,769,279.00 |
|
Current Portion of Long-term Loans |
103,750,000.00 |
61,020,000.00 |
14,640,000.00 |
|
|
|
|
|
|
Total Current Liabilities |
5,249,012,363.40 |
6,581,171,812.04 |
6,266,605,711.91 |
|
Hire-purchase Payable |
5,937,366.60 |
487,894.56 |
1,273,483.72 |
|
Long-term Liabilities |
446,231,200.03 |
41,287,339.00 |
7,240,000.00 |
|
Obligation for Employee
Benefits |
17,643,768.00 |
35,247,037.00 |
30,717,095.00 |
|
Total Liabilities |
5,718,824,698.03 |
6,658,194,082.60 |
6,305,836,290.63 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 10,000,000 shares |
1,000,000,000.00 |
1,000,000,000.00 |
1,000,000,000.00 |
|
|
|
|
|
|
Capital Paid |
1,000,000,000.00 |
1,000,000,000.00 |
1,000,000,000.00 |
|
Retained Earning
-Unappropriated |
200,219,037.27 |
445,814,204.07 |
393,240,251.49 |
|
Other Components of Equity |
46,010,000.00 |
46,010,000.00 |
46,010,000.00 |
|
Total Shareholders' Equity |
1,246,229,037.27 |
1,491,824,204.07 |
1,439,250,251.49 |
|
Total Liabilities &
Shareholders' Equity |
6,965,053,735.30 |
8,150,018,286.67 |
7,745,086,542.12 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
8,855,492,934.44 |
11,152,686,611.98 |
12,151,971,513.24 |
|
Other Income |
37,878,460.94 |
226,077,428.47 |
42,367,760.50 |
|
Total Revenues |
8,893,371,395.38 |
11,378,764,040.45 |
12,194,339,273.74 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
8,214,785,172.85 |
10,677,786,651.77 |
11,231,772,922.02 |
|
Selling Expenses |
280,880,171.22 |
255,469,092.08 |
497,444,859.49 |
|
Administrative Expenses |
399,123,255.88 |
183,730,953.09 |
192,456,290.89 |
|
Total Expenses |
8,894,788,599.95 |
11,116,986,696.94 |
11,921,674,072.40 |
|
Profit /[Loss] before Financial
Cost & Income Tax |
[1,417,204.57] |
261,777,343.51 |
272,665,201.34 |
|
Financial Cost |
[241,791,807.94] |
[229,746,738.54] |
[199,767,125.32] |
|
Profit /[Loss] before Income
Tax |
[243,209,012.51] |
32,030,604.97 |
72,898,076.02 |
|
Income Tax |
[2,386,154.29] |
[13,657,654.44] |
- |
|
Net Profit / [Loss] |
[245,595,166.80] |
45,688,259.41 |
72,898,076.02 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.86 |
0.86 |
0.85 |
|
QUICK RATIO |
TIMES |
0.23 |
0.22 |
0.30 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
11.25 |
13.78 |
15.94 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.27 |
1.37 |
1.57 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
148.48 |
144.81 |
110.30 |
|
INVENTORY TURNOVER |
TIMES |
2.46 |
2.52 |
3.31 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
45.86 |
44.63 |
54.31 |
|
RECEIVABLES TURNOVER |
TIMES |
7.96 |
8.18 |
6.72 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
39.27 |
51.11 |
50.24 |
|
CASH CONVERSION CYCLE |
DAYS |
155.08 |
138.33 |
114.37 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
92.76 |
95.74 |
92.43 |
|
SELLING & ADMINISTRATION |
% |
7.68 |
3.94 |
5.68 |
|
INTEREST |
% |
2.73 |
2.06 |
1.64 |
|
GROSS PROFIT MARGIN |
% |
7.66 |
6.29 |
7.92 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(0.02) |
2.35 |
2.24 |
|
NET PROFIT MARGIN |
% |
(2.77) |
0.41 |
0.60 |
|
RETURN ON EQUITY |
% |
(19.71) |
3.06 |
5.07 |
|
RETURN ON ASSET |
% |
(3.53) |
0.56 |
0.94 |
|
EARNING PER SHARE |
BAHT |
(24.56) |
4.57 |
7.29 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.82 |
0.82 |
0.81 |
|
DEBT TO EQUITY RATIO |
TIMES |
4.59 |
4.46 |
4.38 |
|
TIME INTEREST EARNED |
TIMES |
(0.01) |
1.14 |
1.36 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(20.60) |
(8.22) |
|
|
OPERATING PROFIT |
% |
(100.54) |
(3.99) |
|
|
NET PROFIT |
% |
(637.55) |
(37.33) |
|
|
FIXED ASSETS |
% |
(2.75) |
6.21 |
|
|
TOTAL ASSETS |
% |
(14.54) |
5.23 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -20.6%. Turnover has decreased from THB
11,152,686,611.98 in 2012 to THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
7.66 |
Acceptable |
Industrial
Average |
14.38 |
|
Net Profit Margin |
(2.77) |
Deteriorated |
Industrial
Average |
2.93 |
|
Return on Assets |
(3.53) |
Deteriorated |
Industrial
Average |
5.43 |
|
Return on Equity |
(19.71) |
Deteriorated |
Industrial
Average |
20.10 |
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 7.66%. 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 -2.77%.
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 -3.53%.
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 -19.71%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.86 |
Risky |
Industrial
Average |
1.43 |
|
Quick Ratio |
0.23 |
|
|
|
|
Cash Conversion Cycle |
155.08 |
|
|
|
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 0.86 times in 2013, same
figure as 0.86 times in
2012, then the company may have problems meeting its short-term
obligations. 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 0.23 times in 2013,
increased from 0.22 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 156 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.82 |
Impressive |
Industrial
Average |
0.95 |
|
Debt to Equity Ratio |
4.59 |
Risky |
Industrial
Average |
3.51 |
|
Times Interest Earned |
(0.01) |
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 -0.01 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 0.82 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 : SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
11.25 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.27 |
Acceptable |
Industrial
Average |
2.43 |
|
Inventory Conversion Period |
148.48 |
|
|
|
|
Inventory Turnover |
2.46 |
Acceptable |
Industrial
Average |
4.67 |
|
Receivables Conversion Period |
45.86 |
|
|
|
|
Receivables Turnover |
7.96 |
Satisfactory |
Industrial
Average |
8.94 |
|
Payables Conversion Period |
39.27 |
|
|
|
The company's Account Receivable Ratio is calculated as 7.96 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 145 days at the
end of 2012 to 148 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 2.52 times in year 2012 to 2.46 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.27 times and 1.37
times in 2013 and 2012 respectively. This ratio is determined by dividing total
assets into total sales turnover. The ratio measures the activity of the assets
and the ability of the firm to generate sales through the use of the assets.
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Stable
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.