MIRA INFORM REPORT
|
Report Date : |
15.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALPHANI INTERNATIONALCO., LTD. |
|
|
|
|
Registered Office : |
Room 128/131-133, 12th Floor, Phyathai Plaza, 128 Phyathai Road, Rajthevee, Bangkok 10400 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
28.02.2014 |
|
|
|
|
Date of Incorporation : |
08.03.1983 |
|
|
|
|
Com. Reg. No.: |
0105526009377 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Distributor of Industrial Machinery and Chemicals. |
|
|
|
|
No. of Employees : |
60 |
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 |
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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 – 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
ALPHANI INTERNATIONAL CO., LTD.
SUMMARY
BUSINESS
ADDRESS : ROOM
128/131-133, 12th FLOOR,
PHYATHAI PLAZA, 128
PHYATHAI ROAD, RAJTHEVEE,
BANGKOK 10400,
THAILAND
TELEPHONE : [66] 2216-5657-64,
2612-1568
FAX : [66] 2216-5665,
2612-1170
E-MAIL
ADDRESS : alphani@loxinfo.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1983
REGISTRATION
NO. : 0105526009377
[Former : 938/2526]
TAX
ID NO. : 3101228151
CAPITAL REGISTERED : BHT. 1,000,000
CAPITAL PAID-UP : BHT.
1,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCALYEAR CLOSING DATE : FEBRUARY
28
LEGAL
STATUS : PRIVATE
LIMITED COMPANY
EXECUTIVE
: MR.
PHANI KALAYANAKUPT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 60
LINES
OF BUSINESS : INDUSTRIAL MACHINERY
AND CHEMICALS
IMPORTER AND
DISTRIBUTOR
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING
NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on March
8, 1983 as
a private limited
company under the
name style ALPHANI
INTERNATIONAL CO., LTD. by
Thai groups, in order
to operate as
an importer and
distributor of industrial
machinery and chemical. Subject currently
employs approximately 60
staff.
Since commencement, the
subject has been trusted
and appointed as
a distributor for
Noudex of the
U.S.A and Acima
of Switzerland, the
major suppliers of
additives and biocides
for paint industry
including technical and
consulting services.
The subject’s initial
registered address was 7th
Floor, 518/3 Panunee
Bldg., Ploenchit Rd.,
Lumpini, Pathumwan, Bangkok.
On March 21, 1988,
it was moved
to 14th Floor,
518/5 Maneeya Center
Bldg., Ploenchit Rd.,
Lumpini, Pathumwan, Bangkok.
On May 10,
1994, subject’s registered
address was relocated
to Room 128/131-133, 12th Floor,
Phyathai Plaza, 128
Phyathai Rd., Rajthevee,
Bangkok 10400, and
this is the
company’s current operating
address
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Phani Kalayanakupt |
|
Thai |
68 |
|
Mrs. Chutima Kalayanakupt |
|
Thai |
69 |
|
Mr. Chalermchai Niyomsen |
|
Thai |
70 |
|
Mrs. Kalaya Lertudommongkol |
|
Thai |
54 |
AUTHORIZED
PERSON
Two of the
above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Phani Kalayanakupt is
the Managing Director.
He is Thai
nationality with the
age of 68
years old.
Mr. Chalermchai Niyomsen
is the General
Manager and Marketing
Manager.
He is Thai
nationality with the
age of 70
years old.
BUSINESS
OPERATIONS
The subject’s activities
are importer and
distributor of industrial
chemicals for paint,
paper and plastic
industries, as well
as industrial machinery
and spare parts
for general industries according
to customer’s orders.
It also provides
technical services, co-operated
by respective suppliers
covering consultation and
evaluation of customers’
products when properties
against microorganism are
concerned.
IMPORT [COUNTRIES]
The subject purchases machinery and
chemicals from both
local and overseas suppliers. 80%
of the products are
imported from overseas
suppliers in Australia, Switzerland, Malaysia,
Republic of China,
India, Spain, Italy, Belgium,
United States of America, Germany, Singapore,
South Africa, Netherlands,
Japan and Canada,
and the remaining 20% is purchased
from local suppliers.
MAJOR SUPPLIERS
The
subject has over
50 local and
overseas suppliers. The major
suppliers are as
follows:
List of Major
Suppliers:
|
Name |
Country |
Products |
|
Lorama |
Canada |
Chemical |
|
Nouplex |
Australia |
Paint Additives |
|
Acima |
Switzerland |
Biocides |
|
Associated Kaolin |
Malaysia |
Kaolin Clay |
|
Bentec S.A. |
Italy |
Organo Clay |
|
Braive Instruments |
Belgium |
Lab Equipments |
|
Creanova |
U.S.A. |
Colorants |
|
Fabricolor |
U.S.A. |
Colour Pigments |
|
Nismix |
Singapore |
Mill Machineries |
|
Oxidos Rojos De Malaga |
Spain |
Iron Oxide |
|
Rolefs Limited |
South Africa |
Colour Pigments |
|
Sachtleben |
Germany |
White Extenders |
|
Sasol Servo |
Netherlands |
Paint Additives |
|
Shin-etsu |
Japan |
Vinyl Resin |
|
Goman Solo |
Spain |
Chemical |
|
First Color Ltd. |
Korea |
Paint Chemical |
|
IMCD Malaysia Sdn. Bhd. |
Malaysia |
Chemical/ adhesive latex &
etc. |
|
Patcham India Pvt.
Ltd. |
India |
Paint chemical/ coatings |
|
Worlee [Shanghai] Trading
Co., Ltd. |
Republic of China |
Paint
chemical/ coatings |
|
Lorama Group International Inc. |
U.S.A. |
Chemical |
|
Cereplast Inc. |
U.S.A. |
Chemical |
|
Worlee Chemie GmbH. |
Germany |
Chemical |
|
Rhopoint Instruments Ltd. |
United Kingdom |
Instruments |
SALES [LOCAL]
100% of the
products is sold
directly to local manufacturers, wholesalers
and end-users.
MAJOR CUSTOMERS
TOA Paint Co.,
Ltd.
Becker Acroma [Thailand]
Ltd.
Thai Kansai Paint
Co., Ltd.
K.P.C. Co., Ltd.
Nippon Paint [Thailand]
Ltd.
I.C.I. [Thailand] Ltd.
V. Brother Industries
Co., Ltd.
Dyno Co., Ltd.
RELATED/
AFFILIATED COMPANY
Multicolor Corporation Industries
Ltd.
Country : Thailand
Business Type : Distributor
of Colour Card
LITIGATIONS
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 credit terms of
30-60 days.
Purchasing terms are
by cash or
on the credits
of 30-60 days.
Imports are by
L/C at sight
or T/T on
the credit term
of 60 days.
BANKING
Bangkok Bank Public
Co., Ltd.
[Rajthevee Branch : 128/17-18 Phyathai
Rd., Rajthevee, Bangkok]
Siam Commercial Bank
Public Co., Ltd.
[Bangna-Trad Branch
: 13 Sukhumvit
Rd., Bangna, Bangkok ]
EMPLOYMENT
The subject employs
approximately 60 staff.
LOCATION
DETAILS
The premise is
rented for operating
administrative office at
Room 128/131-133, 12th
Floor, Phyathai Plaza,
128 Phyathai Rd.,
Rajthevee, Bangkok 10400.
It is located
in a prime
commercial area.
Warehouse:
- 207 Moo 11, Theparak Rd.,
T. Bangpleeyai, A. Bangplee, Samutprakarn
10540.
COMMENT
The subject has been in the business
for three decades and
represents many suppliers of
paint chemicals. With its
long time experience,
the products and services
have been trusted by its
customers from various
industries.
Domestic paint market
has enjoyed moderate
growth from improving
of industrial and
construction sector in
the previous years.
The subject maintains
its good business.
FINANCIAL
INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 10,000 shares of
Bht. 100 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at June 27,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Phani Kalayanakupt Nationality: Thai Address : 128/598
Phayathai Rd., Thungphayathai Rajthevee,
Bangkok |
8,000 |
80.00 |
|
Mrs. Chutima Kalayanakupt Nationality: Thai Address : 128/598
Phayathai Rd., Thunhphyathai,
Rajthevee, Bangkok |
1,800 |
18.00 |
|
Mrs. Sudaporn Kalayanakupt Nationality: Thai Address : 20
Soi Rama 9/41 [Soi
4 Seree 2], Suanluang, Bangkok |
200 |
2.00 |
Total Shareholders : 3
Share Structure [as
at June 27,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
10,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
10,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Tawee Charnvaivit
No. 2015
BALANCE
SHEET [BAHT]
The
latest financial figures
published for February
28, 2014, 2013 & 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash in Hand
& at Bank |
24,763,278.09 |
9,599,064.10 |
18,739,932.77 |
|
Short-term Investment |
99,448,565.04 |
152,753,037.12 |
152,168,480.00 |
|
Trade Accounts Receivable |
73,243,785.45 |
73,881,128.72 |
61,345,320.73 |
|
Inventories |
48,839,848.14 |
47,582,066.48 |
51,632,712.74 |
|
Deferred Income &
Prepaid Expenses |
3,858,235.49 |
1,704,200.49 |
3,880,243.52 |
|
Prepaid Income Tax |
2,844,860.32 |
2,773,440.77 |
3,137,361.20 |
|
Other Current Assets
|
85.05 |
- |
- |
|
|
|
|
|
|
Total Current Assets
|
252,998,657.58 |
288,292,937.68 |
290,904,050.96 |
|
Fixed Assets |
57,934,800.55 |
60,711,191.30 |
56,580,430.02 |
|
Long-term Investment |
2,836,183.30 |
2,767,008.09 |
2,700,000.00 |
|
Other Non-current Assets |
1,504,829.02 |
1,532,544.02 |
1,618,681.18 |
|
Total Assets |
315,274,470.45 |
353,303,681.09 |
351,803,162.16 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Trade Accounts Payable |
17,870,012.33 |
15,428,678.00 |
16,234,203.40 |
|
Revenue Department Payable |
744,623.03 |
549,820.33 |
401,636.86 |
|
Accrued Expenses |
4,514,938.37 |
4,571,666.62 |
4,236,172.17 |
|
Accrued Income Tax |
5,417,751.36 |
7,182,042.45 |
9,292,437.70 |
|
Other Current Liabilities |
214,834.36 |
92,448.02 |
82,433.95 |
|
|
|
|
|
|
Total Current Liabilities |
28,762,159.45 |
27,824,655.42 |
30,246,884.08 |
|
Total Liabilities |
28,762,159.45 |
27,824,655.42 |
30,246,884.08 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
|
|
|
|
|
Capital Paid |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
Gain (loss) on Unrealized |
2,853,483.47 |
1,400,517.12 |
- |
|
Retained Earning Appropriated for
Statutory Reserve
|
100,000.00 |
100,000.00 |
100,000.00 |
|
Unappropriated |
282,558,827.53 |
322,978,508.55 |
320,456,278.08 |
|
Total Shareholders' Equity |
286,512,311.00 |
325,479,025.67 |
321,556,278.08 |
|
Total Liabilities &
Shareholders' Equity |
315,274,470.45 |
353,303,681.09 |
351,803,162.16 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales & Service Income
|
252,339,044.25 |
233,460,799.16 |
211,679,988.99 |
|
Other Income |
3,466,053.77 |
7,273,605.36 |
5,333,797.87 |
|
Total Revenues |
255,805,098.02 |
240,734,404.52 |
217,013,786.86 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
184,805,520.51 |
171,543,355.84 |
148,608,823.80 |
|
Selling &
Administrative Expenses |
45,606,267.94 |
39,057,621.42 |
38,247,456.05 |
|
Total Expenses |
230,411,788.45 |
210,600,977.26 |
186,856,279.85 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost & Income Tax |
25,393,309.57 |
30,133,427.26 |
30,157,507.01 |
|
Financial Cost |
[395,239.23] |
[429,154.34] |
[405,639.18] |
|
Income Tax |
[5,417,751.36] |
[7,182,042.45] |
[9,292,437.70] |
|
|
|
|
|
|
Net Profit / [Loss] |
19,580,318.98 |
22,522,230.47 |
20,459,430.13 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
8.80 |
10.36 |
9.62 |
|
QUICK RATIO |
TIMES |
6.87 |
8.49 |
7.68 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.36 |
3.85 |
3.74 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.80 |
0.66 |
0.60 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
96.46 |
101.24 |
126.82 |
|
INVENTORY TURNOVER |
TIMES |
3.78 |
3.61 |
2.88 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
105.94 |
115.51 |
105.78 |
|
RECEIVABLES TURNOVER |
TIMES |
3.45 |
3.16 |
3.45 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
35.29 |
32.83 |
39.87 |
|
CASH CONVERSION CYCLE |
DAYS |
167.11 |
183.92 |
192.72 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
73.24 |
73.48 |
70.20 |
|
SELLING & ADMINISTRATION |
% |
18.07 |
16.73 |
18.07 |
|
INTEREST |
% |
0.16 |
0.18 |
0.19 |
|
GROSS PROFIT MARGIN |
% |
28.14 |
29.64 |
32.32 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
10.06 |
12.91 |
14.25 |
|
NET PROFIT MARGIN |
% |
7.76 |
9.65 |
9.67 |
|
RETURN ON EQUITY |
% |
6.83 |
6.92 |
6.36 |
|
RETURN ON ASSET |
% |
6.21 |
6.37 |
5.82 |
|
EARNING PER SHARE |
BAHT |
1,958.03 |
2,252.22 |
2,045.94 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.09 |
0.08 |
0.09 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.10 |
0.09 |
0.09 |
|
TIME INTEREST EARNED |
TIMES |
64.25 |
70.22 |
74.35 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
8.09 |
10.29 |
|
|
OPERATING PROFIT |
% |
(15.73) |
(0.08) |
|
|
NET PROFIT |
% |
(13.06) |
10.08 |
|
|
FIXED ASSETS |
% |
(4.57) |
7.30 |
|
|
TOTAL ASSETS |
% |
(10.76) |
0.43 |
|
ANNUAL
GROWTH: RISKY
An annual sales growth is 8.09%. Turnover has increased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
28.14 |
Acceptable |
Industrial
Average |
41.62 |
|
Net Profit Margin |
7.76 |
Impressive |
Industrial
Average |
5.17 |
|
Return on Assets |
6.21 |
Satisfactory |
Industrial
Average |
7.13 |
|
Return on Equity |
6.83 |
Acceptable |
Industrial
Average |
12.12 |
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 28.14%. 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. Net Profit Margin ratio is 7.76%,
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. When compared with the
industry average, it was lower, the
company's figure is 6.21%.
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 6.83%.
Trend of the average
competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
8.80 |
Impressive |
Industrial
Average |
3.12 |
|
Quick Ratio |
6.87 |
|
|
|
|
Cash Conversion Cycle |
167.11 |
|
|
|
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 8.8 times in 2014, decrease from 10.36 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 6.87 times in 2014,
decrease from 8.49 times, although excluding inventory so the company still
have good short-term financial strength.
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 168 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.09 |
Impressive |
Industrial
Average |
0.56 |
|
Debt to Equity Ratio |
0.10 |
Impressive |
Industrial
Average |
0.98 |
|
Times Interest Earned |
64.25 |
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 64.25 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 0.09 less than 0.5, most of the company's
assets are financed through equity.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Stable
ACTIVITY :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
4.36 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.80 |
Deteriorated |
Industrial
Average |
2.05 |
|
Inventory Conversion Period |
96.46 |
|
|
|
|
Inventory Turnover |
3.78 |
Acceptable |
Industrial
Average |
7.10 |
|
Receivables Conversion Period |
105.94 |
|
|
|
|
Receivables Turnover |
3.45 |
Acceptable |
Industrial
Average |
4.76 |
|
Payables Conversion Period |
35.29 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.45 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 decreased from 101 days at the
end of 2013 to 96 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 3.61 times in year 2013 to 3.78 times
in year 2014.
The company's Total Asset Turnover is calculated as 0.8 times and 0.66
times in 2014 and 2013 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.61.11 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.