MIRA INFORM REPORT
|
Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
THAI UNIQUE TEXTILE PUBLIC COMPANY LIMITED |
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Registered Office : |
69 Moo 10, Soi Watsrivareenoi, Bangna-Trad Road, K.M. 18, Bangchalong, Bangplee, Samutprakarn 10540 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
29.11.1989 |
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Com. Reg. No.: |
0107546000474 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
The subject is a textile factory, to manufacture and export various kinds of fabric, including cotton fabric, synthetic fiber, polyester fabric and dyed yarn for garment industry. |
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No of Employees : |
500 |
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 |
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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 |
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High |
B2 |
|
Very High |
C1 |
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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
THAI UNIQUE TEXTILE PUBLIC COMPANY LIMITED
SUMMARY
ADDRESS : 69
MOO 10, SOI
WATSRIVAREENOI,
BANGNA-TRAD ROAD,
K.M. 18,
BANGCHALONG, BANGPLEE,
SAMUTPRAKARN 10540,
THAILAND.
TELEPHONE : [66]
2337-1026-7
FAX : [66]
2337-1189, 2337-1206
E-MAIL ADDRESS : info@thaiuniquetextile.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1989
REGISTRATION NO. : 0107546000474 [Former : 11507/2532]
TAX ID NO. : 3101765960
CAPITAL REGISTERED : BHT.
450,000,000
CAPITAL PAID-UP : BHT.
360,000,000
SHAREHOLDER’S PROPORTION : THAI
: 17.00%
CHINESE :
83.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PUBLIC LIMITED COMPANY
EXECUTIVE : MR.
WU CHOU-FENG [GEORGE WU],
CHINESE
PRESIDENT
NO. OF STAFF : 500
LINES OF BUSINESS : COTTON FABRIC
MANUFACTURER, EXPORTER
AND
DISTRIBUTOR
|
|
|
CORPORATE PROFILE |
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH LOW PERFORMANCE
HISTORY
The subject was
established on November 29,
1989 as a
private limited company
under the originally
registered name “Thai
Unique Textile Company
Limited” by Thai
and Chinese groups.
On December 31,
2003, subject’s status
was converted to
a public limited
company under the
name THAI UNIQUE
TEXTILE PUBLIC COMPANY
LIMITED, with the
business objective to
provide manufacturing service
of fabric and
garment to international
markets. It currently
employs approximately 500
staff.
The subject’s registered
address is 69 Moo
10, Soi
Watsrivareenoi, Bangna-Trad Rd.,
K.M. 18, Bangchalong, Bangplee,
Samutprakarn 10540, and this is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Chen, Shang-Rong
|
[+] |
Chinese |
65 |
|
Mrs. Wu Chang,
Yu-Ying |
|
Chinese |
53 |
|
Mr. Wu, Chou-Feng [George Wu] |
[x] |
Chinese |
56 |
|
Mr. Boonnam Boonnamsap |
[-] |
Thai |
84 |
|
Mr. Chen, Chi-Ling |
|
Chinese |
35 |
|
Mr. Lin, Mow-Chieng |
[-] |
Thai |
72 |
AUTHORIZED PERSON
The mentioned director
[x] can sign or the
directors [+] can
jointly sign with
one of the
directors [-] on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Wu, Chou-Feng
[George Wu] is
the President.
He is Chinese
nationality with the
age of 56 years old.
Mr. Chen, Shang-Rong
is the Vice President and
Managing Director.
He is Chinese
nationality with then
age of 65
years.
Mr. Sophon Samutputra is
the Sales Manager.
He is Thai
nationality.
Mr. Phuphan Nisaratananukul is
the Account &
Finance Manager.
He is Thai
nationality.
Mr. Lin, Mow-Chieng
is the Factory
Manager.
He is Thai
nationality with the
age of 72
years old.
BUSINESS OPERATIONS
The subject is a textile factory, to manufacture and export various kinds of fabric, including cotton fabric, synthetic fiber, polyester fabric and dyed yarn for garment industry.
PRODUCTION CAPACITY
6,000 tons/year
PURCHASE
80% of raw
material is purchased
from local suppliers,
the remaining 20%
mainly thread is
imported from Taiwan, Republic of China,
India and Hong
Kong.
EXPORT [COUNTRIES]
98% of its
products is exported
mainly to Taiwan,
Republic of China,
Vietnam, U.S.A.,
and Europe.
SALES [LOCAL]
2% of the
products is sold
locally by wholesale
to manufacturers.
MAJOR CUSTOMERS
China Unique Garment
Mfg. Co., Ltd. : Taiwan
Bazak International Corp. : U.S.A.
China United Garment
Mfg. Co., Ltd. : Taiwan
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 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
30-60-90 days.
Imports are by
L/C at sight
or T/T.
Exports are against
L/C at sight
or T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Bank of Ayudhya
Public Co., Ltd.
Kasikornbank Public Co.,
Ltd.
The Bank of
China
EMPLOYMENT
The subject employs
approximately 500 office
staff and factory
workers.
LOCATION DETAILS
The premise is
owned for operating
administrative office, factory
and warehouse on
102,400 square meters of
area at the
heading address. Premise
is located in
an industrial area.
COMMENT
Subject was formed in 1989 as a
manufacturing service of cotton fabric
for garment industry. Subject’s business
was improved in
2011. However, demand
of the products
has declined in line
with slowdown of
related industry, meanwhile
domestic consumption shrinking
also affects on
its business performance.
FINANCIAL INFORMATION
The capital was
registered at Bht. 300,000,000 divided
into 3,000,000 shares
of Bht. 100 each.
The latest registered
capital was increased
to Bht. 450,000,000
divided into
45,000,000 shares of
Bht. 10 each,
with the current
capital paid-up at
Bht. 360,000,000.
MAIN SHAREHOLDERS
: [as at
April 28, 2014]
at Bht. 360
million of capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Wu, Chou-Feng Nationality: Chinese Address : Taipei,
Taiwan |
9,120,000 |
25.33 |
|
Mrs. Wu Chang, Yu-Ying Nationality: Chinese Address : Taipei,
Taiwan |
6,120,000 |
17.00 |
|
Mr. Wu, Ming-Hong Nationality: Chinese Address : Taipei,
Taiwan |
4,680,000 |
13.00 |
|
Tom Tailor [Thailand]
Co., Ltd. Nationality: Thai Address : 642/13-16
South Sathorn Rd.,
Thungmahamek, Sathorn, Bangkok |
2,400,000 |
6.67 |
|
Mrs. Wu, Lee-Chiew Nationality: Chinese Address : Taipei,
Taiwan |
1,800,000 |
5.00 |
|
China United Garment
Mfg. Co., Ltd. Nationality: Chinese Address : Taipei,
Taiwan |
1,800,000 |
5.00 |
|
China Unique Garment
Mfg. Co., Ltd.
Nationality: Chinese Address : Taipei,
Taiwan |
1,800,000 |
5.00 |
|
Ms. Wang, Wei -Lin Nationality: Chinese Address : Taipei,
Taiwan |
1,800,000 |
5.00 |
|
Mr. Chen, Chi-Ling Nationality: Chinese Address : Taipei,
Taiwan |
1,200,000 |
3.33 |
|
Mr. Sa-nga Chantranakarat Nationality: Thai Address : 34
Vanicha Rd., Chakrawat,
Samphantawong, Bangkok |
1,200,000 |
3.33 |
|
Ms. Urai Buranthaveekoon Nationality: Thai Address : 501/91
Sathupradit Rd., Chongnonsi,
Yannawa, Bangkok |
1,200,000 |
3.33 |
|
Others |
2,880,000 |
8.01 |
Total Shareholders : 16
Share Structure [as
at April 28,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
6,120,000 |
17.00 |
|
Foreign - Chinese |
11 |
29,880,000 |
83.00 |
|
Total |
16 |
36,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Chavana Viwatpanachart No.
4712
THAI UNIQUE TEXTILE
PUBLIC COMPANY LIMITED
BALANCE SHEET
[BAHT]
The latest financial figures published as
at December 31, 2013,
2012 & 2011
were:
ASSETS
|
Current Assets |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
68,887,169.54 |
53,702,323.38 |
187,277,298.17 |
|
Trade Accounts &
Other Receivable |
278,217,523.69 |
326,600,076.25 |
195,520,712.95 |
|
Short-term Loans to Related Person |
13,000,000.00 |
- |
- |
|
Inventories |
244,142,553.99 |
211,403,164.25 |
228,661,458.19 |
|
Other Current Assets
|
5,595,765.40 |
6,031,881.60 |
4,627,795.30 |
|
|
|
|
|
|
Total Current Assets
|
609,843,012.62 |
597,737,445.48 |
616,087,264.61 |
|
Investment |
|
|
|
|
Investment in
subsidiaries parties |
100,000,000.00 |
100,000,000.00 |
100,000,000.00 |
|
Long-term investment |
10,000,000.00 |
10,000,000.00 |
10,000,000.00 |
|
Investment Property |
188,119,587.72 |
195,663,512.88 |
203,207,438.05 |
|
Fixed Assets |
236,728,587.46 |
276,156,021.12 |
329,169,756.88 |
|
Intangible Assets |
3,181,179.00 |
4,213,442.64 |
4,571,579.76 |
|
Deferred Income Tax |
37,723,460.93 |
24,938,063.37 |
- |
|
Other Non - current Assets |
3,816,955.97 |
3,895,208.85 |
3,937,765.67 |
|
Total Assets |
1,189,412,783.70 |
1,212,603,694.34 |
1,266,973,804.97 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
409,572,991.58 |
364,301,745.01 |
314,689,056.06 |
|
Trade Accounts & Other
Payable |
126,580,204.21 |
116,204,286.28 |
108,297,187.41 |
|
Current Portion of
Long-term Loans |
|
|
|
|
Long-term loans
financial institutions |
- |
52,125,000.00 |
78,500,000.00 |
|
Employee benefits
obligation |
1,374,681.00 |
674,581.00 |
132,359.00 |
|
Short-term Loan from Person or Other |
28,378,891.93 |
28,685,356.76 |
26,410,518.95 |
|
|
|
|
|
|
Total Current Liabilities |
565,906,768.72 |
561,990,969.05 |
528,029,121.42 |
|
Long-term loan from financial institutions, net |
- |
- |
52,125,000.00 |
|
Employee benefits obligation,
net |
20,989,637.00 |
19,429,273.00 |
17,267,852.00 |
|
Other Non-current Liabilities |
30,000.00 |
30,000.00 |
30,000.00 |
|
Total Liabilities |
586,926,405.72 |
581,450,242.05 |
597,451,973.42 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, and
issued share capital
45,000,000 shares |
450,000,000.00 |
450,000,000.00 |
450,000,000.00 |
|
|
|
|
|
|
Capital Paid |
360,000,000.00 |
360,000,000.00 |
360,000,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
45,000,000.00 |
45,000,000.00 |
45,000,000.00 |
|
Unappropriated |
197,486,377.98 |
226,153,452.29 |
264,521,831.55 |
|
Total Shareholders' Equity |
602,486,377.98 |
631,153,452.29 |
669,521,831.55 |
|
Total Liabilities & Shareholders' Equity |
1,189,412,783.70 |
1,212,603,694.34 |
1,266,973,804.97 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Sales Income |
927,421,105.82 |
988,074,983.89 |
1,266,624,498.11 |
|
Service Income |
47,535,074.00 |
51,457,563.46 |
32,237,683.20 |
|
Other Income |
|
|
|
|
Dividend income |
- |
3,000,000.00 |
10,000,000.00 |
|
Gain on exchange rate |
14,296,494.12 |
- |
21,329,866.53 |
|
Gain on disposal of assets |
6,261,475.34 |
5,658,691.59 |
373,829.78 |
|
Others |
6,304,290.88 |
4,757,464.16 |
2,397,675.25 |
|
Total Revenues |
1,001,818,440.16 |
1,052,948,703.10 |
1,332,963,552.87 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
959,339,444.25 |
1,022,240,821.80 |
1,219,811,471.13 |
|
Selling Expenses |
23,761,955.70 |
26,299,275.14 |
28,969,931.69 |
|
Administrative Expenses |
42,111,605.15 |
41,114,709.05 |
46,414,183.67 |
|
Other Expenses |
- |
5,240,371.05 |
- |
|
Total Expenses |
1,025,213,005.10 |
1,094,895,177.04 |
1,295,195,586.49 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
[23,394,564.94] |
[41,946,473.94] |
37,767,966.38 |
|
Financial Costs |
[18,057,906.93] |
[21,359,968.69] |
[28,950,094.68] |
|
Profit / [Loss] before income
tax |
[41,452,471.87] |
[63,306,442.63] |
8,817,871.70 |
|
Income (expenses) income
tax |
12,785,397.56 |
540,728.60 |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
[28,667,074.31] |
[62,765,714.03] |
8,817,871.70 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.08 |
1.06 |
1.17 |
|
QUICK RATIO |
TIMES |
0.64 |
0.68 |
0.72 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.12 |
3.76 |
3.95 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.82 |
0.86 |
1.03 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
92.89 |
75.48 |
68.42 |
|
INVENTORY TURNOVER |
TIMES |
3.93 |
4.84 |
5.33 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
104.16 |
114.68 |
54.94 |
|
RECEIVABLES TURNOVER |
TIMES |
3.50 |
3.18 |
6.64 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
48.16 |
41.49 |
32.41 |
|
CASH CONVERSION CYCLE |
DAYS |
148.89 |
148.67 |
90.96 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
98.40 |
98.34 |
93.91 |
|
SELLING & ADMINISTRATION |
% |
6.76 |
6.49 |
5.80 |
|
INTEREST |
% |
1.85 |
2.05 |
2.23 |
|
GROSS PROFIT MARGIN |
% |
4.36 |
2.95 |
8.71 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(2.40) |
(4.04) |
2.91 |
|
NET PROFIT MARGIN |
% |
(2.94) |
(6.04) |
0.68 |
|
RETURN ON EQUITY |
% |
(4.76) |
(9.94) |
1.32 |
|
RETURN ON ASSET |
% |
(2.41) |
(5.18) |
0.70 |
|
EARNING PER SHARE |
BAHT |
(0.80) |
(1.74) |
0.24 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.49 |
0.48 |
0.47 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.97 |
0.92 |
0.89 |
|
TIME INTEREST EARNED |
TIMES |
(1.30) |
(1.96) |
1.30 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(6.21) |
(19.97) |
|
|
OPERATING PROFIT |
% |
(44.23) |
(211.06) |
|
|
NET PROFIT |
% |
54.33 |
(811.80) |
|
|
FIXED ASSETS |
% |
(14.28) |
(16.11) |
|
|
TOTAL ASSETS |
% |
(1.91) |
(4.29) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -6.21%. Turnover has decreased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
4.36 |
Deteriorated |
Industrial Average |
18.99 |
|
Net Profit Margin |
(2.94) |
Deteriorated |
Industrial Average |
(1.15) |
|
Return on Assets |
(2.41) |
Deteriorated |
Industrial Average |
(0.95) |
|
Return on Equity |
(4.76) |
Deteriorated |
Industrial Average |
(2.35) |
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 4.36%. When
compared with the industry average, the ratio of the company was lower. This
indicated that company may have problems with control over its costs.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit margin
indicates a low margin of safety, higher risk that a decline in sales will
erase profits and result in a net loss. The company's figure is -2.94%. 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 -2.41%.
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 -4.76%.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.08 |
Satisfactory |
Industrial Average |
1.23 |
|
Quick Ratio |
0.64 |
|
|
|
|
Cash Conversion Cycle |
148.89 |
|
|
|
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 1.08 times in 2013, increased from 1.06 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 0.64 times in 2013,
decreased from 0.68 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 149 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.49 |
Impressive |
Industrial Average |
0.67 |
|
Debt to Equity Ratio |
0.97 |
Impressive |
Industrial Average |
2.02 |
|
Times Interest Earned |
(1.30) |
Risky |
Industrial Average |
- |
Debt to Equity Ratio a measurement of how much suppliers, lenders,
creditors and obligors have committed to the company versus what the
shareholders have committed. A 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 -1.3 lower than 1, so the company is not generating
enough cash from EBIT to meet its interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.49 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
4.12 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.82 |
Satisfactory |
Industrial Average |
0.83 |
|
Inventory Conversion Period |
92.89 |
|
|
|
|
Inventory Turnover |
3.93 |
Impressive |
Industrial Average |
2.22 |
|
Receivables Conversion Period |
104.16 |
|
|
|
|
Receivables Turnover |
3.50 |
Satisfactory |
Industrial Average |
3.67 |
|
Payables Conversion Period |
48.16 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.50 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 75 days at the end of 2012 to 93
days at the end of 2013. This represents a negative trend. And Inventory
turnover has decreased from 4.84 times in year 2012 to 3.93 times in year 2013.
The company's Total Asset Turnover is calculated as 0.82 times and 0.86
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 Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.23 |
|
|
1 |
Rs.98.53 |
|
Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.