MIRA INFORM REPORT
|
Report Date : |
11.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALLIED-TEK [THAILAND]
CO., LTD. |
|
|
|
|
Registered Office : |
21/27 Moo 10,
SOI Nawamin 133, Nawamin Road,
Nuanchan, Buengkum,
Bangkok 10230 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
20.07.1984 |
|
|
|
|
Com. Reg. No.: |
0105527026585 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in importing, distributing and
installation service wide
range of welding
and oxy-fuel equipment,
such as welding
consumables, welding machinery
& equipment, includes
gas cutting & welding torches, nozzles, pressure
regulators, flash back
arrestors, special heating
torches, copper welding
wire, copper brazing
wire, ATE chains,
sugar cane shredder,
machinery parts, block
rubber parts, as
well as providing of repair and
maintenance services. |
|
|
|
|
No of Employees : |
50 |
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 – 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
ALLIED-TEK
[THAILAND] CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 21/27
MOO 10, SOI
NAWAMIN 133,
NAWAMIN ROAD,
NUANCHAN,
BUENGKUM, BANGKOK
10230, THAILAND
TELEPHONE : [66] 2944-1931-40,
2510-7104
FAX :
[66] 2510-8209,
2510-8208, 2510-2721
E-MAIL
ADDRESS : info@allied-tek.com
sales@allied-tek.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1984
REGISTRATION
NO. : 0105527026585
TAX
ID NO. : 3101306415
CAPITAL REGISTERED : BHT. 33,000,000
CAPITAL PAID-UP : BHT.
33,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SOMPORN PONGKACHORN, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 50
LINES
OF BUSINESS : TECHNICAL CUTTING
AND WELDING EQUIPMENTS
IMPORTER, DISTRIBUTOR
AND INSTALLATION
SERVICE
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 July
20, 1984 as
a private limited
company under the name
style ALLIED-TEK [THAILAND]
CO., LTD., by Thai
groups, in order
to provide products
and service of
technical cutting and
welding equipments for
various industries. It
currently employs approximately
50 staff.
The subject’s registered
address was initially
at 21/27 Moo 10,
Nawamin Rd., Klongkum, Buengkum,
Bangkok 10230.
Later, the registered
address was changed
to 21/27 Moo 10, Soi
Nawamin 133,
Nawamin Rd., Nuanchan,
Buengkum, Bangkok 10230
by the Government
District Office. Actually both
are the same
location, and this
is also the
subject’s current operation
address.
THE
BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somporn Pongkachorn |
[x] |
Thai |
61 |
|
Mr. Virach Benjaphantawee |
|
Thai |
66 |
|
Mr. Somkiat Wongkittikul |
|
Thai |
52 |
|
Ms. Choojit Rodthong |
|
Thai |
53 |
|
Mr. Somchai Pongkachorn |
[x] |
Thai |
58 |
AUTHORIZED PERSON
One of mentioned directors
[x] can jointly
sign with one
of the rest
directors on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Somporn Pongkachorn is the
Managing Director.
He is Thai
nationality with the
age of 61
years old.
Ms. Choojit Rodthong
is the General
Manager and Executive
Director.
She is Thai
nationality with the
age of 53
years old.
BUSINESS OPERATIONS
The subject is
engaged in importing,
distributing and installation
service wide range
of welding and
oxy-fuel equipment, such
as welding consumables,
welding machinery &
equipment, includes gas
cutting & welding torches,
nozzles, pressure regulators,
flash back arrestors,
special heating torches,
copper welding wire,
copper brazing wire,
ATE chains, sugar
cane shredder, machinery
parts, block rubber
parts, as well
as providing of repair and
maintenance services. The products
and services can
be classified as
the followings:
-
Welding
Technology: consist of
welding consumables, welding machines, welding processes
technology and equipments.
-
Cane
Sugar Technology: complete/partly turnkey
project or supply of machines
as well as
equipment.
-
Block
Rubber Technology: complete/partly turnkey
project or supply
of
machines
and equipments.
-
Machinery
Fabrication & Parts
Production: wood bark
shredder/sugar
continuous
centrifugal/bagasse feeder, shredder
hammer, cane knife,
cane mill
rolls,
cane shredder rotor
or discs.
-
Maintenance & Repair Service:
welding repair of
cracks or broken
parts like crack
on machinery shafts,
cracks of gear
wheel, build up
of worn out
surfaces.
-
Industrial
Steel Chains: for
heavy duty power
transmission and conveyors.
MAJOR BRANDS
“FRONIUS”, “BOHLER”, “UTP”,
“LINN”, “SOUDOKAY”, “WELDOTHERM”,
“CARPANO”, “BEDRA”.
IMPORT
90% of the
products is imported
from Germany, Belgium,
Austria, Italy, Japan,
Republic of China
and Taiwan.
MAJOR SUPPLIERS
Fronius International GmbH. : Germany
Bohler Schweisstecnik Austria
GmbH. : Austria
UTP Schwei & Material GmbH. : Germany
Soudokay S.A. : Belgium
Allied-Tek Engineering Co.,
Ltd. : Thailand
Weldotherm GmbH. : Germany
HKS Prozesstechnik GmbH. : Germany
Carpano Equipment SrL. : Italy
Berkenhoff GmbH. : Germany
SALES
100% of the
products is sold
and serviced locally
to dealers and
end-users.
RELATED COMPANY
Allied-Tek Engineering Co., Ltd.
Business Type : Manufacturer, distributor
and service of
mechanical engineering
equipment for cane
sugar mills
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 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
and T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Trokchan Branch : 1564/8 Chan
Rd., Thungwatdon, Sathorn,
Bangkok 10120]
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
approximately 50 staff
[office and sales
staff].
LOCATION DETAILS
The premise is
rented for administrative office
and warehouse at the heading
address. Premise is
located in commercial/residential area.
Warehouse:
33/69 Soi Nawamin
141, Nawamin Rd.,
Nuanchan, Buengkum, Bangkok 10230
COMMENT
The subject was formed in 1984 as a
an importer and
distributor of industrial
equipments. Subject’s business performance
in 2013 was
slower than the previous year,
this was due
to many industries
were contracted. Consumption
of industrial machinery and
equipments was also
down.
Domestic industry is
improving, but at
slower pace than
earlier expectation.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each.
The capital was
increased later as
the followings:
Bht. 2,000,000
on January 11, 1985
Bht. 3,000,000
on December 8,
1987
Bht. 6,000,000
on July 26,
1989
Bht. 12,000,000 on
October 3, 1991
Bht. 33,000,000 on
December 28, 1995
The latest registered
capital was increased
to Bht. 33,000,000 divided into
330,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE
[as at April
30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Somporn Pongkachorn Nationality: Thai Address : 21/28 Soi
Nawamin 133, Nawamin Rd.,
Nuanchan, Buengkum, Bangkok |
93,000 |
28.18 |
|
Ms. Kaniwar Pongkachorn Nationality: Thai Address : 21/28 Soi
Nawamin 133, Nawamin Rd.,
Nuanchan,
Buengkum, Bangkok |
30,000 |
9.09 |
|
Mr. Pichit Thernhit Nationality: Thai Address : 46/62 Moo 7,
Raj-uthis Rd., Saensaeb,
Minburi, Bangkok |
30,000 |
9.09 |
|
Mr. Virach Benjaphantawee Nationality: Thai Address : 337/237 Moo Ban
Sethsiri, Sanambinnam Rd., Thasai, Muang, Nonthaburi |
26,000 |
7.88 |
|
Mrs. Somsri Pongkachorn Nationality: Thai Address : 21/28 Soi
Nawamin 133, Nawamin Rd.,
Nuanchan,
Buengkum, Bangkok |
25,000 |
7.58 |
|
Mrs. Thitaporn Benjaphantawee Nationality: Thai Address : 337/237 Moo Ban
Sethsiri, Sanambinnam Rd., Thasai,
Muang, Nonthaburi |
25,000 |
7.58 |
|
Mr. Somkiat Wongkittikul Nationality: Thai Address : 21/15 Soi Nawamin
133, Nawamin Rd.,
Klongkum, Buengkum,
Bangkok |
23,000 |
6.97 |
|
Ms. Choojit Rodthong Nationality: Thai Address : 33 Soi
Onnuch 51/3 Rd., Prawet, Bangkok |
15,000 |
4.54 |
|
Mr. Somboon Pongkachorn Nationality: Thai Address : 122/2 Moo 13,
Naimuang, Muang, Khon Kaen |
14,000 |
4.24 |
|
Mr. Atichart Pancharoen Nationality: Thai Address : 33/69 Soi Nawamin 141, Nawamin
Rd.,
Nuanchan, Buengkum, Bangkok |
13,000 |
3.94 |
|
Others |
36,000 |
10.91 |
Total Shareholders : 17
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
17 |
330,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
17 |
330,000 |
100.00 |
NAME
OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO
Ms. Supsangad Pemavipark No.
2357
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 |
138,017.82 |
1,747,045.50 |
81,257.18 |
|
Trade Accounts &
Other Receivable |
34,478,818.45 |
41,705,220.84 |
56,811,476.97 |
|
Inventories |
93,084,812.34 |
81,420,386.47 |
85,706,037.56 |
|
|
|
|
|
|
Total Current Assets
|
127,701,648.61 |
124,872,652.81 |
142,598,771.71 |
|
Other Long-term Investment |
2,437,500.00 |
2,437,500.00 |
2,437,500.00 |
|
Fixed Assets |
16,922,515.59 |
15,527,345.75 |
16,948,271.87 |
|
Other Non-current Assets |
2,139,700.00 |
622,800.00 |
2,800.00 |
|
Total Assets |
149,201,364.20 |
143,460,298.56 |
161,987,343.58 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial Institution |
13,453,861.10 |
15,032,024.38 |
64,328,002.39 |
|
Trade Accounts & Other Payable |
57,582,807.27 |
49,906,557.10 |
22,683,849.34 |
|
Accrued Income Tax |
547,502.36 |
578,987.65 |
1,108,362.16 |
|
|
|
|
|
|
Total Current Liabilities |
71,584,170.73 |
65,517,569.13 |
88,120,213.89 |
|
Employee Benefits
Obligation |
4,264,200.00 |
4,264,200.00 |
3,710,400.00 |
|
Total Liabilities |
75,848,370.73 |
69,781,769.13 |
91,830,613.89 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 330,000 shares |
33,000,000.00 |
33,000,000.00 |
33,000,000.00 |
|
|
|
|
|
|
Capital Paid |
33,000,000.00 |
33,000,000.00 |
33,000,000.00 |
|
Statutory Reserve |
11,415,403.00 |
11,415,403.00 |
11,415,403.00 |
|
Retained Earning -
Unappropriated |
28,760,830.48 |
29,086,366.43 |
25,741,326.69 |
|
Total Shareholders' Equity |
73,352,993.48 |
73,678,529.43 |
70,156,729.69 |
|
Total Liabilities &
Shareholders' Equity |
149,201,364.20 |
143,460,298.56 |
161,987,343.58 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales & Service Income |
107,517,970.71 |
125,865,209.48 |
131,495,678.97 |
|
Other Income |
975,836.42 |
947,566.90 |
1,634,453.05 |
|
Total Revenues |
108,493,807.13 |
126,812,776.38 |
133,130,132.02 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
74,666,086.30 |
89,186,096.17 |
93,768,405.54 |
|
Selling Expenses |
12,876,919.96 |
14,979,787.81 |
18,597,135.73 |
|
Administrative Expenses |
12,320,738.61 |
15,229,782.64 |
16,234,440.91 |
|
Other Expenses |
1,537,382.76 |
334.20 |
611.47 |
|
Total Expenses |
101,401,127.62 |
119,396,000.82 |
128,600,593.65 |
|
|
|
|
|
|
Profit / [Loss] before Interest
Expenses & Income
Tax |
7,092,679.51 |
7,416,775.56 |
4,529,538.37 |
|
Financial Cost |
[67,709.40] |
[363,203.34] |
[229,885.43] |
|
Profit / [Loss] before Income Tax |
7,024,970.11 |
7,053,572.22 |
4,229,652.94 |
|
Income Tax |
[1,410,506.07] |
[1,749,772.48] |
[2,532,051.74] |
|
Net Profit / [Loss] |
5,614,464.04 |
5,303,799.74 |
1,767,601.20 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.78 |
1.91 |
1.62 |
|
QUICK RATIO |
TIMES |
0.48 |
0.66 |
0.65 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
6.35 |
8.11 |
7.76 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.72 |
0.88 |
0.81 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
455.04 |
333.22 |
333.62 |
|
INVENTORY TURNOVER |
TIMES |
0.80 |
1.10 |
1.09 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
117.05 |
120.94 |
157.69 |
|
RECEIVABLES TURNOVER |
TIMES |
3.12 |
3.02 |
2.31 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
281.49 |
204.25 |
88.30 |
|
CASH CONVERSION CYCLE |
DAYS |
290.60 |
249.91 |
403.01 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
69.45 |
70.86 |
71.31 |
|
SELLING & ADMINISTRATION |
% |
23.44 |
24.00 |
26.49 |
|
INTEREST |
% |
0.06 |
0.29 |
0.17 |
|
GROSS PROFIT MARGIN |
% |
31.46 |
29.89 |
29.93 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
6.60 |
5.89 |
3.44 |
|
NET PROFIT MARGIN |
% |
5.22 |
4.21 |
1.34 |
|
RETURN ON EQUITY |
% |
7.65 |
7.20 |
2.52 |
|
RETURN ON ASSET |
% |
3.76 |
3.70 |
1.09 |
|
EARNING PER SHARE |
BAHT |
17.01 |
16.07 |
5.36 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.51 |
0.49 |
0.57 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.03 |
0.95 |
1.31 |
|
TIME INTEREST EARNED |
TIMES |
104.75 |
20.42 |
19.70 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(14.58) |
(4.28) |
|
|
OPERATING PROFIT |
% |
(4.37) |
63.74 |
|
|
NET PROFIT |
% |
5.86 |
200.06 |
|
|
FIXED ASSETS |
% |
8.99 |
(8.38) |
|
|
TOTAL ASSETS |
% |
4.00 |
(11.44) |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is -14.58%. Turnover has decreased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
31.46 |
Acceptable |
Industrial
Average |
59.67 |
|
Net Profit Margin |
5.22 |
Satisfactory |
Industrial
Average |
5.44 |
|
Return on Assets |
3.76 |
Deteriorated |
Industrial
Average |
9.76 |
|
Return on Equity |
7.65 |
Deteriorated |
Industrial
Average |
20.27 |
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 31.46%. 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 5.22%.
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 3.76%.
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 7.65%.
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 |
1.78 |
Satisfactory |
Industrial
Average |
2.17 |
|
Quick Ratio |
0.48 |
|
|
|
|
Cash Conversion Cycle |
290.60 |
|
|
|
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 1.78 times in 2013, decreased from 1.91 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was 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 0.48 times in 2013,
decreased from 0.66 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 291 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.51 |
Acceptable |
Industrial
Average |
0.47 |
|
Debt to Equity Ratio |
1.03 |
Risky |
Industrial
Average |
0.88 |
|
Times Interest Earned |
104.75 |
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 104.76 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 0.51 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
6.35 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.72 |
Deteriorated |
Industrial
Average |
1.79 |
|
Inventory Conversion Period |
455.04 |
|
|
|
|
Inventory Turnover |
0.80 |
Deteriorated |
Industrial
Average |
4.10 |
|
Receivables Conversion Period |
117.05 |
|
|
|
|
Receivables Turnover |
3.12 |
Acceptable |
Industrial
Average |
4.54 |
|
Payables Conversion Period |
281.49 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.12 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 333 days at the
end of 2012 to 455 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 1.1 times in year 2012 to 0.8 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.72 times and 0.88
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.61.16 |
|
|
1 |
Rs.98.63 |
|
Euro |
1 |
Rs.77.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.