MIRA
INFORM REPORT
|
Report Date : |
17.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
INABATA THAI
CO., LTD. |
|
|
|
|
Registered Office : |
14th Floor,
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
02.01.1987 |
|
|
|
|
Com. Reg. No.: |
0105530000320 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged in
importing, distributing,
exporting and commission agent of plastic resin [polyethylene, polypropylene, vinyl
resin, styrene resin,
acrylic resin], as
well as plastic
chemical, textile chemical,
paper chemical, crude
rubber, ribbed smoke
sheet, machinery &
spare parts. |
|
|
|
|
No. of Employees : |
85 |
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 : |
Good |
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
INABATA
THAI CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 14th FLOOR,
SILOM COMPLEX BUILDING,
191 SILOM
ROAD, SILOM, BANGRAK,
BANGKOK 10500,
THAILAND
TELEPHONE : [66] 2625-3200
FAX :
[66] 2231-3346-7
E-MAIL ADDRESS : tmochi@mozart.inet.co.th
booranatesa.areerat@inabata.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1987
REGISTRATION
NO. : 0105530000320 [Former
: 34/2530]
TAX
ID NO. : 3101423013
CAPITAL REGISTERED : BHT. 743,400,000
CAPITAL PAID-UP : BHT. 449,400,000
SHAREHOLER’S
PROPORTION : JAPANESE : 100%
FISCAL YEAR CLOSING DATE : MARCH
31 [Former :
DECEMBER 31]
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
YUTAKA TAKAHASHI, JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 85
LINES
OF BUSINESS : TRADING COMPANY
IMPORTER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on January 2, 1987
as a private limited company under
the registered name “Siam Inabata Co.,
Ltd.” by Thai
and Japanese groups.
On January 3,
1996 the subject’s
name was changed to
INABATA THAI CO.,
LTD. Its objective is
engaged in international
trading business of
foods and industrial
products. It currently
employs approximately 85
staff.
At
present, the subject
is a wholly
owned subsidiary of Inabata & Co.,
Ltd., Japan.
The subject’s registered address is 14th Flr., Silom Complex Building, 191
Silom Rd., Silom, Bangrak,
Bangkok 10500, and
this is the subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Kannapha Thanapakpawin |
[x] |
Thai |
64 |
|
Mr. Yasushi Akinaga |
|
Japanese |
52 |
|
Mr. Motoo Ohashi |
[x] |
Japanese |
57 |
|
Mr. Yutaka
Takahashi |
[x] |
Japanese |
50 |
AUTHORIZED PERSON
Any
of the mentioned
directors [x] can sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr.
Yutaka Takahashi is
the Managing Director.
He
is Japanese nationality
with the age
of 50 years
old.
BUSINESS OPERATIONS
The subject
core business is engaged
in importing, distributing, exporting and
commission agent of plastic resin
[polyethylene, polypropylene, vinyl
resin, styrene resin,
acrylic resin], as
well as plastic
chemical, textile chemical,
paper chemical, crude
rubber, ribbed smoke
sheet, machinery & spare parts.
The
subject is also
exported various frozen
seafood.
PURCHASE
60%
of its products
is imported from
Japan, Singapore, United
Kingdom, Indonesia, India, Germany,
Belgium, Norway, Taiwan
and Republic of
China, and the
remaining
40% is purchased
locally.
MAJOR
SUPPLIERS
|
Name Company |
Country |
Products |
|
|
|
|
|
Inabata &
Co., Ltd. |
Japan |
Petrochemical
& chemical |
|
Inabata [Singapore]
Pte.
Ltd. |
Singapore |
Petrochemical
& chemical |
|
Inabata Europe
S.A. |
Belgium |
Petrochemical
& chemical |
SALES
[LOCAL]
80%
of its products
is sold locally
to manufacturers, wholesalers
and end-users.
EXPORT
[COUNTRIES]
Foodstuff
and frozen seafood
are exported to Japan, Malaysia, Singapore,
Republic
of China, Vietnam and
Taiwan.
MAJOR
CUSTOMERS
|
Company |
Country |
|
|
|
|
S I K
[Thailand] Ltd. |
Thailand |
|
Takahashi Plastics
Ltd. |
Thailand |
|
Apple
Film Co., Ltd. |
Thailand |
|
Thai
Arrow Co., Ltd. |
Thailand |
|
Hi-Tech
Rubber Co., Ltd. |
Thailand |
|
Kokuyo-IK
[Thailand] Co., Ltd. |
Thailand |
|
Senka [Thailand]
Co., Ltd. |
Thailand |
|
TS Molymer Co., Ltd. |
Thailand |
|
NMB-Minibea Thai
Ltd. |
Thailand |
SUBSIDIARIES
& AFFILIATED COMPANIES
Apple
Film Co., Ltd.
Business Type: Manufacturer
of plastic film
Takahashi
Plastics Ltd.
Business Type: Manufacturer
of synthetic resin
Hi-Tech
Rubber Products Co., Ltd.
Business Type: Molding and
processing of rubber
and silicone
Senka [Thailand] Co., Ltd.
Business Type: Manufacturer
of textile auxiliary
Kokuyo-IK [Thailand]
Co., Ltd.
Business Type: Manufacturer
of stationery
Nobel
NC Co., Ltd.
Business Type: Manufacturer
of Nitrocellulose
S & I
Consultants Co., Ltd.
Business Type: Consulting
on tax and
accounting
SIK [Thailand] Ltd.
Business Type: Coloring
and processing of
synthetic resin
Takahashi
Korat [1995]
Co., Ltd.
Business Type: Molding,
processing & assembly of
synthetic resin
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
30-60-90 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 on the
credit term of
30 days.
Exports
are against T/T.
BANKING
Bank
of Tokyo - Mitsubishi UFJ
Ltd.
[Bangkok Office]
Bangkok
Bank Public Co.,
Ltd.
[Surawongse Branch]
TMB
Bank Public Co., Ltd.
[Watkae Branch]
Sumitomo
Mitsui Banking Corporation
[Bangkok Branch]
EMPLOYMENT
The
subject employs approximately
85 staff. [office
and sales staff]
LOCATION
DETAILS
The
premise is rented
for operating administrative office
at the heading
address. Premise is
located in a
prime commercial area.
Warehouse
is located at
672 Moo 2, T. Bangpoomai, A. Muang, Samutprakarn 10270.
COMMENT
Consumption of imported products especially industrial
products from overseas remains
strong. Its products
categories are well accepted by
local consumers. The subject
experiences a long term recognition in Thailand’s market as
a leading importer
and distributor of
industrial products.
Generally, the subject’s
business is very solid
and profitable.
FINANCIAL INFORMATION
The
capital was registered
at Bht.
2,000,000 divided into 20,000 shares
of Bht. 100
each.
The
capital was increased
later as followings
:
Bht.
8,000,000 on September
25, 1987
Bht.
20,000,000 on July
14, 1995
Bht.
40,000,000 on December
26, 1996
Bht.
320,000,000 on September
4, 1998
Bht.
351,400,000 on March
25, 2005
Bht.
743,400,000 on January
31, 2006
The
latest registered capital
was increased to Bht. 743,400,000
divided into 7,434,000
shares of Bht. 100
each.
THE SHAREHOLDERS LISTED WERE : [as at
June 27, 2014]
at Bht. 449,400,000
of capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Inabata &
Co., Ltd. Nationality: Japanese Address : 8-2 Nihonbashi Honsho, Chome Shuo-ku,
Tokyo, Japan |
7,433,998 |
100.00 |
|
Inabata Singapore
Pte.
Ltd. Nationality: Japanese Address : 78 Shenton Way, Singapore |
1 |
- |
|
Inabata Malaysia
Sdn. Bhd. Nationality: Japanese Address : Kuala
Lumpur, Malaysia |
1 |
- |
Total Shareholders : 3
Share Structure [as
at June 27,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - Japanese |
3 |
7,434,000 |
100.00 |
|
Total |
3 |
7,434,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sakda
Kaothanthong
No. 4628
BALANCE SHEET [BAHT]
The
latest financial figures published
as at March
31, 2014 & 2013;
December 31, 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
610,476,420 |
388,106,183 |
139,680,412 |
|
Trade Accounts Receivable
|
1,936,693,818 |
2,083,821,913 |
1,952,348,800 |
|
Other Receivable |
47,230,370 |
8,773,435 |
27,619,301 |
|
Inventories |
885,576,120 |
876,483,093 |
1,023,382,426 |
|
|
|
|
|
|
Total Current Assets
|
3,479,976,728 |
3,357,184,624 |
3,143,030,939 |
|
Cash at Bank
Pledged as a Collateral |
4,864,524 |
4,864,524 |
4,864,524 |
|
Long-term Investment |
331,928,077 |
422,399,020 |
422,399,020 |
|
Building & Equipment
Improvement |
10,105,012 |
11,562,582 |
12,235,844 |
|
Intangible Assets |
37,924,091 |
19,238,325 |
19,401,268 |
|
Deferred Income Tax |
40,158,989 |
58,537,590 |
58,196,712 |
|
Other Non-current Assets |
8,974,178 |
8,501,603 |
8,501,603 |
|
Total Assets |
3,913,931,599 |
3,882,288,268 |
3,668,629,910 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Short-term Loan from Financial Institutions |
402,000,000 |
666,000,000 |
498,000,000 |
|
Trade Accounts Payable
|
1,053,664,989 |
964,909,835 |
911,314,657 |
|
Other Payable |
41,914,980 |
53,286,081 |
60,825,016 |
|
Current Portion of Long-term
Loans |
300,000,000 |
- |
- |
|
Short-term Loan from Related
Company |
177,000,000 |
214,010,000 |
232,010,000 |
|
Accrued Income Tax |
27,738,955 |
37,959,456 |
28,012,275 |
|
|
|
|
|
|
Total Current Liabilities |
2,002,318,924 |
1,936,165,372 |
1,730,161,948 |
|
Long-term Loan from Financial Institutions |
- |
300,000,000 |
300,000,000 |
|
Long-term Liabilities |
11,486,567 |
9,127,700 |
8,835,912 |
|
Advance Received from Customer |
4,864,524 |
4,864,524 |
4,864,524 |
|
Total Liabilities |
2,018,670,015 |
2,250,157,596 |
2,043,862,384 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value authorized, and issued
share capital 7,434,000 shares |
743,400,000 |
743,400,000 |
743,400,000 |
|
|
|
|
|
|
Capital Paid |
449,400,000 |
449,400,000 |
449,400,000 |
|
Retained Earning for Statutory Reserve |
65,352,629 |
62,510,771 |
54,338,575 |
|
Unappropriated |
1,380,618,955 |
1,120,329,901 |
1,121,138,951 |
|
Other Components of
Shareholders Equity |
[110,000] |
[110,000] |
[110,000] |
|
Total Shareholders' Equity |
1,895,261,584 |
1,632,130,672 |
1,624,767,526 |
|
Total Liabilities & Shareholders' Equity |
3,913,931,599 |
3,882,288,268 |
3,668,629,910 |
PROFIT & LOSS ACCOUNT
|
Revenue |
Mar. 31,
2014 |
Jan. 1 2013 – Mar. 31, 2013 |
Dec. 31,
2012 |
|
|
|
|
|
|
Sales Income |
10,028,246,969 |
2,470,968,889 |
10,106,739,373 |
|
Commission Income |
10,305,235 |
2,372,502 |
14,772,940 |
|
Dividend Income |
13,608,562 |
18,599,897 |
22,800,523 |
|
Gain on Disposal of Long-term Investment |
29,076,600 |
- |
25,200,000 |
|
Gain on Liquidation of Investments |
23,467,734 |
- |
- |
|
Reversal of Allowance for Decline in Value of Long-term
Investments |
94,159,057 |
- |
- |
|
Other Income |
30,166,088 |
7,845,612 |
38,950,420 |
|
Total Revenues |
10,229,030,245 |
2,499,786,900 |
10,208,463,256 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
9,530,342,045 |
2,347,846,584 |
9,638,221,128 |
|
Selling Expenses |
165,994,955 |
38,209,768 |
164,926,631 |
|
Administrative Expenses |
156,785,122 |
38,699,578 |
152,308,462 |
|
Total Expenses |
9,853,122,122 |
2,424,755,930 |
9,955,456,221 |
|
|
|
|
|
|
Loss before Interest
Expenses & Income
Tax |
375,908,123 |
75,030,970 |
253,007,035 |
|
Interest Expenses |
[25,446,975] |
[8,568,631] |
[42,247,033] |
|
Loss on before
Income Tax |
350,461,148 |
66,462,339 |
210,760,002 |
|
Income Tax |
[70,279,236] |
[9,625,193] |
[47,316,086] |
|
|
|
|
|
|
Net Profit / [Loss] |
280,181,912 |
56,837,146 |
163,443,916 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.74 |
1.73 |
1.82 |
|
QUICK RATIO |
TIMES |
1.30 |
1.28 |
1.23 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
992.40 |
213.70 |
825.99 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.56 |
0.64 |
2.75 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
33.92 |
136.26 |
38.76 |
|
INVENTORY TURNOVER |
TIMES |
10.76 |
2.68 |
9.42 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
70.49 |
307.81 |
70.51 |
|
RECEIVABLES TURNOVER |
TIMES |
5.18 |
1.19 |
5.18 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
40.35 |
150.01 |
34.51 |
|
CASH CONVERSION CYCLE |
DAYS |
64.05 |
294.07 |
74.75 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
95.03 |
95.02 |
95.36 |
|
SELLING & ADMINISTRATION |
% |
3.22 |
3.11 |
3.14 |
|
INTEREST |
% |
0.25 |
0.35 |
0.42 |
|
GROSS PROFIT MARGIN |
% |
6.97 |
6.15 |
5.64 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.75 |
3.04 |
2.50 |
|
NET PROFIT MARGIN |
% |
2.79 |
2.30 |
1.62 |
|
RETURN ON EQUITY |
% |
14.78 |
3.48 |
10.06 |
|
RETURN ON ASSET |
% |
7.16 |
1.46 |
4.46 |
|
EARNING PER SHARE |
BAHT |
62.35 |
12.65 |
36.37 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.52 |
0.58 |
0.56 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.07 |
1.38 |
1.26 |
|
TIME INTEREST EARNED |
TIMES |
14.77 |
8.76 |
5.99 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
305.84 |
(75.55) |
|
|
OPERATING PROFIT |
% |
401.00 |
(70.34) |
|
|
NET PROFIT |
% |
392.96 |
(65.23) |
|
|
FIXED ASSETS |
% |
(12.61) |
(5.50) |
|
|
TOTAL ASSETS |
% |
0.82 |
5.82 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 305.84%. Turnover has increased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
6.97 |
Deteriorated |
Industrial
Average |
32.13 |
|
Net Profit Margin |
2.79 |
Acceptable |
Industrial
Average |
4.65 |
|
Return on Assets |
7.16 |
Impressive |
Industrial
Average |
5.53 |
|
Return on Equity |
14.78 |
Impressive |
Industrial
Average |
12.35 |
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 6.97%. 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 2.79%.
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. Return on Assets ratio is
7.16%, higher figure when compared with those of its average competitors in the
same industry, indicated that business was an efficient profit in a dominant position within its industry.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. Return on Equity ratio
is 14.78%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit in a dominant position within its industry.
Trend of the average
competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.74 |
Satisfactory |
Industrial
Average |
1.74 |
|
Quick Ratio |
1.30 |
|
|
|
|
Cash Conversion Cycle |
64.05 |
|
|
|
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 1.74 times in 2014, increased from 1.73 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 1.3 times in 2014,
increased from 1.28 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 65 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.52 |
Impressive |
Industrial Average |
0.81 |
|
Debt to Equity Ratio |
1.07 |
Satisfactory |
Industrial
Average |
1.80 |
|
Times Interest Earned |
14.77 |
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 14.78 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 0.52 greater than 0.5, most of the
company's assets are financed through debt.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Stable
ACTIVITY : IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
992.40 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
2.56 |
Impressive |
Industrial
Average |
1.72 |
|
Inventory Conversion Period |
33.92 |
|
|
|
|
Inventory Turnover |
10.76 |
Impressive |
Industrial
Average |
7.30 |
|
Receivables Conversion Period |
70.49 |
|
|
|
|
Receivables Turnover |
5.18 |
Satisfactory |
Industrial
Average |
6.46 |
|
Payables Conversion Period |
40.35 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.18 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 136 days at the
end of 2013 to 34 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 2.68 times in year 2013 to 10.76
times in year 2014.
The company's Total Asset Turnover is calculated as 2.56 times and 0.64
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.61.10 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.