MIRA INFORM REPORT
|
Report Date : |
15.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
BERTRAM CHEMICAL
[1982] CO., LTD. |
|
|
|
|
Registered Office : |
37 SOI
Ladprao 80 [Chantima],
Ladprao Road, Wangthonglang, Bangkok
10310 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
25.11.1981 |
|
|
|
|
Com. Reg. No.: |
0105524028391 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject
is engaged in manufacturing, distributing and
exporting various kinds
of Chinese herb
oil and balm
products, such as
peppermint field gel,
peppermint field balm
stick, and peppermint
field inhaler under
its own brands
“SIANG PURE” and “PEPPERMINT FIELD”.
|
|
|
|
|
No. of Employees : |
300 |
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 and address
BERTRAM
CHEMICAL [1982] CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 37
SOI LADPRAO 80
[CHANTIMA], LADPRAO ROAD,
WANGTHONGLANG, BANGKOK
10310, THAILAND
TELEPHONE : [66] 2932-7051-4,
2514-3547, 2514-3573-7
FAX :
[66] 2538-0590
E-MAIL
ADDRESS : bertram@bertramchemical(1982).com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1981
REGISTRATION
NO. : 0105524028391
TAX
ID NO. : 3101177343
CAPITAL REGISTERED : BHT. 25,000,000
CAPITAL PAID-UP : BHT.
25,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
BOONJUA EIAMPHIKUN, THAI
PRESIDENT
NO.
OF STAFF : 300
LINES
OF BUSINESS : HERB
OIL AND BALM
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on November 25,
1981 as a
private limited company under
the name style BERTRAM CHEMICAL [1982] CO., LTD. by
Thai groups. Its
business objective is to manufacture
and distribute herb
oil and balm
to relieve nasal
congestion, dizziness and
faintness. It currently
employs approximately 300
staff.
The
subject’s registered address
was initially at
71 Soi Ladprao
80 [Chantima], Ladprao Rd.,
Wangthonglang, Bangkok 10310.
In
2014, its registered
address was relocated
to 37 Soi
Ladprao 80 [Chantima], Ladprao Rd.,
Wangthonglang, Bangkok 10310,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Boonjua Eiamphikun |
[x] |
Thai |
81 |
|
Mrs. Thitima Eiamphikun |
[-] |
Thai |
55 |
|
Mrs. Suwanna Akarapongpisak |
[-] |
Thai |
52 |
|
Mrs. Pinsuwan Thanatsang |
|
Thai |
71 |
|
Dr. Thongchai Thavichachart |
|
Thai |
65 |
|
Mr. Santi Vilassakdanont |
|
Thai |
64 |
AUTHORIZED PERSON
Only the mentioned
director [x] signs or
both of the
mentioned directors [-]
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Boonjua Eiamphikun is
the President.
He is Thai
nationality with the
age of 81
years old.
Mrs. Suwanna Akarapongpisak is
the Vice President
and Sales &
Marketing Director.
She is Thai
nationality with the
age of 52
years old.
Mrs. Thitima Eiamphikun is
the Vice President
and Finance &
Account Director.
She is Thai
nationality with the
age of 55
years old.
Mr. Anusorn Tongpanithanan is
the QA Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting various kinds
of Chinese herb
oil and balm
products, such as
peppermint field gel,
peppermint field balm
stick, and peppermint
field inhaler under
its own brands
“SIANG PURE” and “PEPPERMINT
FIELD”.
PRODUCTION CAPACITY
200 million pieces per
annum
Applications
When inhaled, the
products will help
relieve nasal congestion,
dizziness and faintness.
When rubbed on the affected
area, they alleviate
indigestion, stomach cramps, muscle strains,
sprains, joint pains, bruises,
soreness, boils and
insect bites and
stings.
PURCHASE
Raw materials, mainly
herbs, peppermint, camphor,
cloves, eucalyptus oil
and cinnamon are
purchased from suppliers
in both domestic
and overseas mainly
Republic of China
and India.
SALES
The products are
sold by wholesale
to both local
and overseas, such
as Hong Kong,
Singapore, U.S.A., Netherlands,
Vietnam, Taiwan, Cambodia,
Spain, Malaysia, Canada,
Germany, France,
Philippines, Republic of
China, Indonesia, United
Arab Emirates, Laos and
Japan.
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 for the
past two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
Kasikornbank
Public Co., Ltd.
EMPLOYMENT
The
subject employs approximately
300 staff.
LOCATION
DETAILS
The premise is owned
for administrative office
at the heading
address. Premise is located
in commercial/residential area.
Factory :
- 26/9 Moo
1, T. Buengkamploy, A. Lamlukka,
Pathumthani 12150.
Sales
office:
-
35 Soi Ladprao
80 [Chantima], Ladprao Rd.,
Wangthonglang, Bangkok 10310.
Warehouse:
-
77/1
Soi Ladprao 80
[Chantima], Ladprao Rd., Wangthonglang, Bangkok
10310.
-
77 Soi Ladprao
80 [Chantima], Ladprao
Rd. Wangthonglang, Bangkok 10310.
COMMENT
The
company’s factory is
fully equipped with
high technology machinery, laboratory
for testing and
developing new products,
and an extensive
product line that includes
balms and ointments. This confirms
the confidence that
its customers have
learned to repose
in Bertram Chemical
over the past 30
years.
Subject’s
business performance remains
strong.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 1,000,000 divided into
10,000 shares of Bht. 100
each with fully
paid.
The
capital was increased
later as follows:
Bht. 2,000,000
on March 19,
1981
Bht. 4,000,000
on August 24,
1981
Bht. 15,000,000
on June 17,
1999
Bht. 25,000,000
on May 13,
2002
The
latest registered capital
was increased to
Bht. 25 million, divided
into 250,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Boonjua Eiamphikun Nationality: Thai Address
: 71 Soi Ladprao
80 [Chantima], Ladprao
Rd., Wangthonglang, Bangkok |
67,500 |
27.00 |
|
Mrs. Thitima Eiamphikun Nationality: Thai Address
: 71 Soi Ladprao
80 [Chantima], Ladprao
Rd.,
Wangthonglang, Bangkok |
60,500 |
24.20 |
|
Mrs. Suwanna Eiamphikun Nationality: Thai Address
: 75 Soi
Ladprao 80 [Chantima],
Ladprao Rd.,
Wangthonglang, Bangkok+ |
60,500 |
24.20 |
|
Mr. Harin Sanghirun Nationality: Thai Address
: 77 Soi
Ladprao 80 [Chantima], Ladprao Rd.,
Wangthonglang, Bangkok |
30,298 |
12.12 |
|
Mr. Hiran Sanghirun Nationality: Thai Address : 34
Soi Ladprao 80 Yaek 12,
Wangthonglang, Bangkok |
30,298 |
12.12 |
|
Mr. Porames Eiamphikun Nationality: Thai Address
: 71 Soi Ladprao
80, Ladprao Rd.,
Wangthonglang, Bangkok |
700 |
0.28 |
|
Mr. Nakorn Eiamphikun Nationality: Thai Address : 119
Soi Thaklang, Wangburapapirom, Phranakorn, Bangkok |
102 |
0.04 |
|
|
|
|
|
Mr. Jongkol Eiamphikun Nationality: Thai Address : 119
Soi Thaklang, Wangburapapirom,
Phranakorn, Bangkok |
102 |
0.04 |
Total Shareholders : 8
Share
Structure [as at
April 30, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
8 |
250,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
8 |
250,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sathien Sathienpanich No.
2893
BALANCE
SHEET [BAHT
The latest financial figures published
as at December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
49,148,294.68 |
78,231,018.03 |
53,836,539.43 |
|
Short-term Investment |
30,484,199.80 |
402,547.67 |
382,651.42 |
|
Trade Accounts & Other Receivable |
80,465,319.95 |
64,239,493.88 |
50,881,502.68 |
|
Inventories |
69,399,998.61 |
91,517,862.67 |
104,314,997.14 |
|
Other Current Assets
|
1,110,824.02 |
1,037,271.09 |
1,048,844.45 |
|
|
|
|
|
|
Total Current Assets |
230,608,637.06 |
235,428,193.34 |
210,464,535.12 |
|
|
|
|
|
|
Fixed Assets |
519,990,217.86 |
340,070,548.24 |
189,303,941.60 |
|
Cash at Bank pledged as a Collateral |
693,200.00 |
693,200.00 |
693,200.00 |
|
Other Non-current Assets |
31,700,017.52 |
1,612,736.24 |
8,577,529.52 |
|
Total Assets |
782,992,072.44 |
577,804,677.82 |
409,039,206.24 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
11,874,569.75 |
22,222,886.49 |
55,937,635.05 |
|
Trade Accounts & Other Payable
|
181,752,457.03 |
136,820,018.57 |
111,757,381.81 |
|
Accrued Income Tax |
9,277,480.01 |
5,651,781.64 |
4,902,632.99 |
|
Current Portion of
Lease Contract Liabilities |
6,566,746.23 |
6,847,105.55 |
5,522,685.42 |
|
Current Portion of
Long-term Loan |
35,400,000.00 |
33,000,000.00 |
4,880,000.00 |
|
|
|
|
|
|
Total Current Liabilities |
244,871,253.02 |
204,541,792.25 |
183,000,335.27 |
|
Lease Contract Liabilities, Net |
8,471,664.62 |
9,526,644.77 |
12,699,760.31 |
|
Other Long-term Loan, Net |
240,131,395.18 |
113,773,022.67 |
- |
|
Employee Benefits Obligation |
40,237,211.00 |
4,717,767.36 |
6,503,077.52 |
|
Total Liabilities |
533,711,523.82 |
332,559,227.05 |
202,203,173.10 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 250,000 shares |
25,000,000.00 |
25,000,000.00 |
25,000,000.00 |
|
|
|
|
|
|
Capital Paid |
25,000,000.00 |
25,000,000.00 |
25,000,000.00 |
|
Other Components of Shareholders’ Equity |
58,402.51 |
- |
- |
|
Retained Earning Unappropriated [Deficit] |
224,222,146.11 |
220,245,450.77 |
181,836,033.14 |
|
Total Shareholders' Equity |
249,280,548.62 |
245,245,450.77 |
206,836,033.14 |
|
Total Liabilities & Shareholders' Equity |
782,992,072.44 |
577,804,677.82 |
409,039,206.24 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
768,709,429.61 |
694,702,514.88 |
563,959,631.52 |
|
Other Income |
3,993,354.38 |
6,886,512.05 |
3,136,459.39 |
|
Total Revenues |
772,702,783.99 |
701,589,026.93 |
567,096,090.91 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
361,144,401.21 |
358,380,132.91 |
289,206,112.86 |
|
Selling Expenses |
166,429,962.33 |
140,629,661.09 |
119,532,997.68 |
|
Administrative Expenses |
169,140,471.37 |
148,530,157.13 |
131,680,362.36 |
|
Other Expenses |
18,089,519.17 |
- |
- |
|
Total Expenses |
714,804,354.08 |
647,539,951.13 |
540,419,472.90 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
57,898,429.91 |
54,049,075.80 |
26,676,618.01 |
|
Financial Costs |
[2,526,772.70] |
[3,278,415.84] |
[2,008,847.76] |
|
Profit before Income Tax |
55,371,657.21 |
50,770,659.96 |
24,667,770.25 |
|
Income Tax |
[17,610,621.23] |
[12,361,242.33] |
[10,054,716.83] |
|
|
|
|
|
|
Net Profit / [Loss] |
37,761,035.98 |
38,409,417.63 |
14,613,053.42 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY
RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.94 |
1.15 |
1.15 |
|
QUICK RATIO |
TIMES |
0.65 |
0.70 |
0.57 |
|
|
|
|
|
|
|
ACTIVITY
RATIO |
|
|
|
|
|
FIXED ASSETS
TURNOVER |
TIMES |
1.48 |
2.04 |
2.98 |
|
TOTAL ASSETS
TURNOVER |
TIMES |
0.98 |
1.20 |
1.38 |
|
INVENTORY
CONVERSION PERIOD |
DAYS |
70.14 |
93.21 |
131.65 |
|
INVENTORY
TURNOVER |
TIMES |
5.20 |
3.92 |
2.77 |
|
RECEIVABLES
CONVERSION PERIOD |
DAYS |
38.21 |
33.75 |
32.93 |
|
RECEIVABLES
TURNOVER |
TIMES |
9.55 |
10.81 |
11.08 |
|
PAYABLES
CONVERSION PERIOD |
DAYS |
183.69 |
139.35 |
141.05 |
|
CASH CONVERSION
CYCLE |
DAYS |
(75.35) |
(12.39) |
23.54 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS
SOLD |
% |
46.98 |
51.59 |
51.28 |
|
SELLING &
ADMINISTRATION |
% |
43.65 |
41.62 |
44.54 |
|
INTEREST |
% |
0.33 |
0.47 |
0.36 |
|
GROSS PROFIT
MARGIN |
% |
53.54 |
49.40 |
49.27 |
|
NET PROFIT
MARGIN BEFORE EX. ITEM |
% |
7.53 |
7.78 |
4.73 |
|
NET PROFIT
MARGIN |
% |
4.91 |
5.53 |
2.59 |
|
RETURN ON EQUITY |
% |
15.15 |
15.66 |
7.07 |
|
RETURN ON ASSET |
% |
4.82 |
6.65 |
3.57 |
|
EARNING PER
SHARE |
BAHT |
151.04 |
153.64 |
58.45 |
|
|
|
|
|
|
|
LEVERAGE
RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.68 |
0.58 |
0.49 |
|
DEBT TO EQUITY
RATIO |
TIMES |
2.14 |
1.36 |
0.98 |
|
TIME INTEREST
EARNED |
TIMES |
22.91 |
16.49 |
13.28 |
|
|
|
|
|
|
|
ANNUAL
GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
10.65 |
23.18 |
|
|
OPERATING PROFIT |
% |
7.12 |
102.61 |
|
|
NET PROFIT |
% |
(1.69) |
162.84 |
|
|
FIXED ASSETS |
% |
52.91 |
79.64 |
|
|
TOTAL ASSETS |
% |
35.51 |
41.26 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 10.65%. Turnover has increased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
53.54 |
Impressive |
Industrial
Average |
25.54 |
|
Net Profit Margin |
4.91 |
Deteriorated |
Industrial
Average |
13.19 |
|
Return on Assets |
4.82 |
Deteriorated |
Industrial
Average |
25.06 |
|
Return on Equity |
15.15 |
Deteriorated |
Industrial
Average |
51.91 |
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 53.54%. 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 4.91%.
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 4.82%.
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 15.15%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
0.94 |
Risky |
Industrial
Average |
1.52 |
|
Quick Ratio |
0.65 |
|
|
|
|
Cash Conversion Cycle |
(75.35) |
|
|
|
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 0.94 times in 2013, decreased from 1.15 times, 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 0.65 times in 2013,
decreased from 0.7 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 -76 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.68 |
Acceptable |
Industrial
Average |
0.50 |
|
Debt to Equity Ratio |
2.14 |
Risky |
Industrial
Average |
0.99 |
|
Times Interest Earned |
22.91 |
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 22.92 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 0.68 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.48 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.98 |
Acceptable |
Industrial
Average |
1.90 |
|
Inventory Conversion Period |
70.14 |
|
|
|
|
Inventory Turnover |
5.20 |
Impressive |
Industrial
Average |
4.76 |
|
Receivables Conversion Period |
38.21 |
|
|
|
|
Receivables Turnover |
9.55 |
Impressive |
Industrial
Average |
4.33 |
|
Payables Conversion Period |
183.69 |
|
|
|
The company's Account Receivable Ratio is calculated as 9.55 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 93 days at the
end of 2012 to 70 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 3.92 times in year 2012 to 5.2 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.98 times and 1.2
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.61.10 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
PDT |
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.