MIRA
INFORM REPORT
|
Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
BLUECHIPS MICROHOUSE CO., LTD. |
|
|
|
|
Registered Office : |
212/2 Moo 10, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
04.09.1999 |
|
|
|
|
Com. Reg. No.: |
0515542000113 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in sub-contract for
design and manufacturing of
electronic assembly products,
e.g. printed circuit
board [PCB], printed circuit
board assembly [PCBA], LED/LCD
display, human machine
interface [HMI],
touch-terminals, HMI touch-panel
monitors & IPCS,
automation
assembly/electronic
components, RF products,
graphical LCD displays,
industrial control components
and etc., to
OEMs and ODMs
customers. |
|
|
|
|
No of Employees : |
240 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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
BLUECHIPS
MICROHOUSE CO., LTD.
SUMMARY
BUSINESS ADDRESS : 212/2 MOO 10, SUPER
HIGHWAY CHIANGMAI-
LAMPHUN
ROAD, T. U-MONG,
A. MUANG, LAMPHUN 51150,
THAILAND
TELEPHONE : [66] 53
091-327-9, 085 695-0045-6
FAX : [66] 53
091-330
E-MAIL ADDRESS : sales@bluechips.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1999
REGISTRATION NO. : 0515542000113 [Former :
LOR POR. 328]
TAX ID NO. : 3551004695
CAPITAL REGISTERED : BHT.
40,000,000
CAPITAL PAID-UP : BHT.
40,000,000
SHAREHOLDER’S PROPORTION : GERMAN :
100%
FISCAL YEAR CLOSING DATE : JUNE 30
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
THOMAS ANDREAS ZIMPFER,
GERMAN
MANAGING DIRECTOR
NO. OF STAFF : 240
LINES OF BUSINESS : ELECTRONICS PARTS
MANUFACTURER, EXPORTER
AND DISTRIBUTOR
|
|
|
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 September 14, 1999 as
a private limited
company under the
name style BLUECHIPS
MICROHOUSE CO., LTD., by
German groups, in
order to manufacture
electronics parts to
both local and
overseas markets. It
currently employs approximately
240 staff.
The subject was
granted promotional privileges
from the Board
of Investment (BOI),
as well as
achieved the ISO 9001 : 2000
certification in 2003 and ISO 14001 :
2004 certification in 2008
from UKAS.
The subject’s registered address
is 212/2 Moo 10, Super Highway Chiangmai-Lamphun Rd., T. U-mong,
A. Muang, Lamphun 51150,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Thomas Andreas Zimpfer |
|
German |
55 |
|
Mrs. Elke Sabine Zimpfer |
|
German |
54 |
|
Mrs. Natthaya Chotik-arbha |
|
Thai |
58 |
|
Mr. Michael Ian Mackenzie |
|
- |
- |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Thomas Andreas
Zimpfer is the
Managing Director.
He is German
nationality with the
age of 55
years old.
Mrs. Elke Sabine
Zimpfer is the
Deputy Managing Manager.
She is German
nationality with the age
of 54 years
old.
Ms. Pichamol
Chanphaichayontra is the
Technical Sales &
Marketing Manager.
She is Thai
nationality.
Mr. Paul Ranger is
the Purchasing Manager.
He is British
nationality.
Mr. Phairat Roskaew is
the Production Manager.
He is Thai
nationality.
Mr. Sakchai Sukviwatkitkul is
the Assistant Technical
Sales & Marketing Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activity is a
sub-contract for design and
manufacturing of electronic
assembly products, e.g.
printed circuit board [PCB],
printed circuit board
assembly [PCBA], LED/LCD display,
human machine interface [HMI], touch-terminals, HMI
touch-panel monitors &
IPCS, automation assembly/electronic components,
RF products, graphical
LCD displays, industrial
control components and
etc., to OEMs
and ODMs customers.
The
products and services
are as follows:
- Surface
Mount [SMT]
- Through
Hole [IMT]
- Chip On Board [COB], clean room [class
10.000]
- Laser-marking technologies
- Box-building [case design & manufacture]
- Rapid-prototyping
- Mold
making and injection
molding capabilities.
The subject has
its own software
and hardware development
facilities for customer’s
projects. Its engineering
department is divided
into three major
subdivisions, consist of
hardware development, software
development and mechanical
engineering.
PURCHASE
90% of electronic components
and spare parts
are imported from
Germany, Taiwan, Republic of
China, Malaysia, Japan,
India, Hong Kong,
Vietnam and U.S.A.,
the remaining 10% is
purchased from local
suppliers.
MAJOR SUPPLIERS
SK Polymer Co.,
Ltd. : Thailand
Single Point Part
Co., Ltd. : Thailand
EXPORT
99% of the
products is exported
mainly to Germany,
and the remaining
to France, United Kingdom,
Italy, Switzerland, Japan, Taiwan, Republic of
China, Singapore, India, Mexico,
United States of
America and Malaysia.
SALES [LOCAL]
1% of the
products is sold
locally to computer,
automotive, electrical appliance
manufacturers and etc.
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
according to IRICO’S
DATABASE 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 credits
term of 30-60
days.
Imports are by
L/C at sight
or T/T.
Exports are against
L/C at sight
or T/T.
BANKING
The Siam Commercial
Bank Public Co., Ltd.
[Lamphun Branch : 324
Changmai-Lamphun Road, T. U-mong, A. Muang, Lamphun]
EMPLOYMENT
The subject employs
approximately 240 staff
[office staff and
factory workers].
LOCATION DETAILS
The premise is
rented for administrative office,
factory and warehouse
at the heading
address. Premise is
located in upcountry, in the
Northern region of
Thailand.
COMMENT
The subject is one
of the leading manufacturers of
electronic parts, which
have been widely used in various industries. Despite slowdown
of automobile, electrical
appliances and other electronic products industries in the
year 2011, which have decreased demand of the electronic parts,
subject still maintains
healthy business.
Subject’s business outlook
in the year
2014 is promising despite of
a political unrest
and low consumer
spending.
FINANCIAL INFORMATION
The capital was
registered at Bht.
10,000 divided into
1,000 shares of
Bht. 10 each.
The capital was
increased later as
follows:
Bht. 14,000,000
on October 28,
1999
Bht. 20,000,000
on September 28,
2004
Bht. 40,000,000
on September 24,
2010
The latest registered
capital was increased
to Bht. 40,000,000
divided into 4,000,000
shares of Bht.
10 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as at
October 28, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Thomas Andreas
Zimpfer Nationality: German Address : 212/2 Moo 10, T. U-mong,
A. Muang, Lamphun |
3,999,998 |
100.00 |
|
Mrs. Elke Sabine Zimpfer Nationality: German Address : 212/2 Moo 10, T. U-mong,
A. Muang, Lamphun |
1 |
- |
|
Mr. Michael Dietmar Adam Nationality: German Address : 212/2 Moo 10, T. U-mong,
A. Muang, Lamphun |
1 |
- |
Total Shareholders : 3
Share Structure [as
at October 28,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - German |
3 |
4,000,000 |
100.00 |
|
Total |
3 |
4,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Prommin Rathanit No.
3849
Note:
The 2014 balance
sheet is still
unavailable so the
subject could not
release the balance
sheet to us. Besides,
it has not been
available at the
Commercial Registration Department
as well.
BALANCE SHEET [BAHT]
The
latest financial figures
published for June
30, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 [Adjusted] |
|
|
|
|
|
|
Cash and
Cash Equivalents |
49,907,572 |
55,631,512 |
67,717,244 |
|
Trade Accounts
& Other Receivable |
77,878,752 |
53,939,460 |
62,254,623 |
|
Inventories |
217,509,011 |
177,191,092 |
148,209,253 |
|
Real Estate
for Investment |
- |
3,849,030 |
- |
|
Other Current
Assets |
10,312,018 |
8,271,763 |
11,601,021 |
|
|
|
|
|
|
Total Current
Assets |
355,607,353 |
298,882,857 |
289,782,141 |
|
Non-operating Assets
|
1,051,071 |
11,550,826 |
13,492,969 |
|
Real Estate for
Investment |
- |
680,555 |
680,555 |
|
Fixed Assets |
68,004,487 |
66,138,076 |
60,779,987 |
|
Intangible Assets |
7,741,752 |
2,911,456 |
2,201,119 |
|
Other Non-current Assets
|
146,000 |
274,125 |
253,125 |
|
Total Assets |
432,550,663 |
380,437,895 |
367,189,896 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 [Adjusted] |
|
|
|
|
|
|
Promissory Notes |
3,800,000 |
- |
- |
|
Trade Accounts
& Other Payable |
96,788,885 |
64,504,814 |
61,583,793 |
|
Current Portion of
Long-term Liabilities |
1,003,887 |
13,745,213 |
2,023,322 |
|
Current Portion of
Long-term Loan
from Directors |
18,897,094 |
29,506,717 |
34,201,078 |
|
Accrued Expenses &
Other Current Liabilities |
27,992,131 |
27,143,326 |
5,612,408 |
|
|
|
|
|
|
Total Current Liabilities |
148,481,997 |
134,900,070 |
103,420,601 |
|
Loan from
Director |
87,939,263 |
99,784,677 |
75,637,578 |
|
Long-term Liabilities
- Net of
Current Portion |
1,362,181 |
746,638 |
10,149,301 |
|
Employee Benefits
Obligation |
4,351,630 |
2,476,615 |
1,793,213 |
|
Total Liabilities |
242,135,071 |
237,908,000 |
191,000,693 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share
capital : Baht 10 par
value
authorized, issued and
fully
paid share capital
4,000,000 shares |
40,000,000 |
40,000,000 |
40,000,000 |
|
|
|
|
|
|
Capital Paid |
40,000,000 |
40,000,000 |
40,000,000 |
|
Retained Earning
Appropriated for Statutory Reserve |
4,000,000 |
4,000,000 |
2,000,000 |
|
Unappropriated |
146,415,592 |
98,529,895 |
134,189,203 |
|
Total Shareholders' Equity |
190,415,592 |
142,529,895 |
176,189,203 |
|
Total Liabilities
& Shareholders'
Equity |
432,550,663 |
380,437,895 |
367,189,896 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 [Adjusted] |
|
|
|
|
|
|
Sales and Service Income |
531,920,297 |
395,294,316 |
506,692,845 |
|
Other Income |
5,063,828 |
6,293,303 |
7,415,797 |
|
Gain/[Loss] on Exchange Rate |
5,277,286 |
[985,141] |
8,052,213 |
|
Total Revenues |
542,261,411 |
400,602,478 |
522,160,855 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of
Goods Sold &
Service |
446,485,026 |
331,035,659 |
421,900,618 |
|
Selling Expenses |
27,586,011 |
23,816,961 |
22,053,356 |
|
Administrative Expenses |
17,680,825 |
16,958,609 |
11,301,568 |
|
Total Expenses |
491,751,862 |
371,811,229 |
455,255,542 |
|
|
|
|
|
|
Profit before
Finance Cost and
Income Tax |
50,509,549 |
28,791,249 |
66,905,313 |
|
Finance Cost |
[2,394,814] |
[2,371,743] |
[2,845,214] |
|
Profit before Income
Tax |
48,114,735 |
26,419,506 |
64,060,100 |
|
Income Tax |
[229,038] |
[78,814] |
[326,231] |
|
|
|
|
|
|
Net
Profit / [Loss] |
47,885,697 |
26,340,692 |
63,733,869 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.39 |
2.22 |
2.80 |
|
QUICK RATIO |
TIMES |
0.86 |
0.81 |
1.26 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
7.82 |
5.98 |
8.34 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.23 |
1.04 |
1.38 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
177.81 |
195.37 |
128.22 |
|
INVENTORY TURNOVER |
TIMES |
2.05 |
1.87 |
2.85 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
53.44 |
49.81 |
44.85 |
|
RECEIVABLES TURNOVER |
TIMES |
6.83 |
7.33 |
8.14 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
79.12 |
71.12 |
53.28 |
|
CASH CONVERSION CYCLE |
DAYS |
152.13 |
174.05 |
119.79 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
83.94 |
83.74 |
83.27 |
|
SELLING & ADMINISTRATION |
% |
8.51 |
10.32 |
6.58 |
|
INTEREST |
% |
0.45 |
0.60 |
0.56 |
|
GROSS PROFIT MARGIN |
% |
18.01 |
17.60 |
19.79 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
9.50 |
7.28 |
13.20 |
|
NET PROFIT MARGIN |
% |
9.00 |
6.66 |
12.58 |
|
RETURN ON EQUITY |
% |
25.15 |
18.48 |
36.17 |
|
RETURN ON ASSET |
% |
11.07 |
6.92 |
17.36 |
|
EARNING PER SHARE |
BAHT |
11.97 |
6.59 |
15.93 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.56 |
0.63 |
0.52 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.27 |
1.67 |
1.08 |
|
TIME INTEREST EARNED |
TIMES |
21.09 |
12.14 |
23.52 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
34.56 |
(21.99) |
|
|
OPERATING PROFIT |
% |
75.43 |
(56.97) |
|
|
NET PROFIT |
% |
81.79 |
(58.67) |
|
|
FIXED ASSETS |
% |
2.82 |
8.82 |
|
|
TOTAL ASSETS |
% |
13.70 |
3.61 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 34.56%. Turnover has increased from THB
395,294,316.00 in 2012 to THB 531,920,297.00 in 2013. While net profit has
increased from THB 26,340,692.00 in 2012 to THB 47,885,697.00 in 2013. And
total assets has increased from THB 380,437,895.00 in 2012 to THB
432,550,663.00 in 2013.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
18.01 |
Impressive |
Industrial Average |
(3.15) |
|
Net Profit Margin |
9.00 |
Impressive |
Industrial Average |
5.74 |
|
Return on Assets |
11.07 |
Impressive |
Industrial Average |
8.46 |
|
Return on Equity |
25.15 |
Impressive |
Industrial Average |
15.92 |
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 18.01%. 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 9%, 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
11.07%, 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 25.15%, 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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
2.39 |
Impressive |
Industrial Average |
2.07 |
|
Quick Ratio |
0.86 |
|
|
|
|
Cash Conversion Cycle |
152.13 |
|
|
|
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 2.39 times in 2013, increased from 2.22 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 0.86 times in 2013,
increased from 0.81 times, by excluding inventory, the company may have
problems meeting current liabilities.
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 153 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.56 |
Acceptable |
Industrial Average |
0.42 |
|
Debt to Equity Ratio |
1.27 |
Risky |
Industrial Average |
0.72 |
|
Times Interest Earned |
21.09 |
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 lower the percentage means that the company is
using less leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 21.1 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 0.56 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 |
7.82 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.23 |
Satisfactory |
Industrial Average |
1.47 |
|
Inventory Conversion Period |
177.81 |
|
|
|
|
Inventory Turnover |
2.05 |
Deteriorated |
Industrial Average |
4.85 |
|
Receivables Conversion Period |
53.44 |
|
|
|
|
Receivables Turnover |
6.83 |
Impressive |
Industrial Average |
5.89 |
|
Payables Conversion Period |
79.12 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.83 and 7.33 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 195 days at the end of 2012 to
178 days at the end of 2013. This represents a positive trend. And Inventory
turnover has increased from 1.87 times in year 2012 to 2.05 times in year 2013.
The company's Total Asset Turnover is calculated as 1.23 times and 1.04
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.61.35 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.