MIRA
INFORM REPORT
|
Report Date : |
18.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
UNION BELT
INDUSTRIES CO., LTD. |
|
|
|
|
Registered Office : |
47/9 MOO
4, Sethakit |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
04.07.1975 |
|
|
|
|
Com. Reg. No.: |
0105518006631 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged
in manufacturing and
servicing wide range
of industrial belts,
including cleat belts, tumble
blast belts, flat conveyor
belts, V-shaped conveyor
belts, elevated belts,
super flex transmission belts,
flat transmission belts,
V-ridge conveyor belt,
flat cotton belt,
white flat conveyor
belt and etc.,
under its own
brand name “UBI”,
as well as
providing of rubber
compound service |
|
|
|
|
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 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
Tonga has a small, open, South
Pacific island economy. It has a narrow export base in agricultural goods.
Squash, vanilla beans, and yams are the main crops. Agricultural exports,
including fish, make up two-thirds of total exports. The country must import a
high proportion of its food, mainly from New Zealand. The country remains
dependent on external aid and remittances from Tongan communities overseas to
offset its trade deficit. Tourism is the second-largest source of hard currency
earnings following remittances. Tonga had 39,000 visitors in 2006. The
government is emphasizing the development of the private sector, especially the
encouragement of investment, and is committing increased funds for health and
education. Tonga has a reasonably sound basic infrastructure and well developed
social services. High unemployment among the young, moderate inflation,
pressures for democratic reform, and rising civil service expenditures are
major issues facing the government
|
Source
: CIA |
Company name
UNION
BELT INDUSTRIES CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 47/9
MOO 4, SETHAKIT
1-BANGPLA ROAD,
BANKOH, MUANG,
SAMUTSAKORN 74000,
THAILAND
TELEPHONE : [66] 34
468-591-3, 34 830-500-3
FAX :
[66] 34
468-597, 34 830-504
E-MAIL
ADDRESS : ubi@unionbelt.com
REGISTRATION
ADDRESS : 12
BANGBON 1 SOI
11, BANGBON,
BANGKOK 10150,
THAILAND
ESTABLISHED : 1975
REGISTRATION
NO. : 0105518006631
TAX
ID NO. : 3101100068
CAPITAL REGISTERED : BHT. 240,000,000
CAPITAL PAID-UP : BHT.
240,000,000
SHAREHOLDER’S PROPORTION : THAI : 94.54%
TAIWANESE :
5.46%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. METHA MAREEANUKROH,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 300
LINES
OF BUSINESS : INDUSTRIAL BELTS
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 July 4, 1975
as a private
limited company under the
name style UNION
BELT INDUSTRIES CO.,
LTD., by Thai groups, in
order to manufacture
wide range of
industrial belts to
both domestic and
international markets. It
currently employs approximately
300 staff.
The
subject’s registered address
was initially located
at 67/11 Moo 9,
Sukhapiban 1 Rd., Bangbon, Bangkok
10150.
On
April 8, 2010,
subject’s registered address
was changed to
12 Bangbon 1
Soi 11, Bangbon,
Bangkok 10150, by
Bangbon District Office,
while the current
principle office is
47/9 Moo 4,
Sethakit 1-Bangpla Rd., Bankoh,
Muang, Samutsakorn 74000.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Metha Maree-anukroh |
[x] |
Thai |
73 |
|
Mr. Pornchai Ariyamethin |
|
Thai |
55 |
|
Ms. Chalorsri Chanjaruchit |
|
Thai |
64 |
|
Mr. Vitoon Angsuwattananon |
|
Thai |
38 |
AUTHORIZED PERSON
Only the mentioned
director [x] can
sign on behalf
of the subject with
company’s affixed.
MANAGEMENT
Mr. Metha Maree-anukroh is
the Managing Director.
He is Thai
nationality with the
age of 73
years old.
Ms. Chalorsri Charnjarujit is
the General Manager.
She is Thai
nationality with the age
of 64 years
old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and servicing wide
range of industrial
belts, including cleat belts,
tumble blast belts, flat
conveyor belts, V-shaped
conveyor belts, elevated
belts, super flex
transmission belts, flat
transmission belts, V-ridge
conveyor belt, flat
cotton belt, white
flat conveyor belt
and etc., under
its own brand
name “UBI”, as
well as providing
of rubber compound
service.
PURCHASE
Most of raw
material and components
are purchased from
local supplier, the
remaining as well
as machinery are
imported from Japan,
Taiwan, India, Germany
and
Republic of China.
SALES
80% of the
products is sold
locally by wholesale
to dealers, and
the remaining 20%
is exported to
Taiwan, Singapore, Japan,
Korea, Vietnam, Malaysia,
Indonesia, Republic of
China and Germany.
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.
EMPLOYMENT
The
subject employs approximately
300 office staff
and factory workers.
LOCATION
DETAILS
The
premise is owned
for principle office, factory
and warehouse at the heading
address. Premise is
located in provincial.
Branch
office :
- 47/8
Moo 4, Sethakit 1-Bangpla Rd.,
Bankoh, Muang, Samutsakorn
74000.
COMMENT
The subject
has been enjoying
its outstanding business. Through the year 2014, the company has been sticking to its
policy of sustainable growth through developing products which suit market
needs. Developing new markets and making new investments based on this
principle allowed the company
to maintain continual expansion all along. This also makes it possible to provide
persistently satisfactory returns.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided into 1,000 shares of
Bht. 1,000 each.
The
capital was increased
later as following:
Bht. 12,000,000
on June 15,
1984
Bht. 40,000,000
on March 9,
1998
Bht. 60,000,000
on November 4,
2003
Bht. 80,000,000
on July 5,
2004
Bht. 140,000,000
on September 27,
2005
Bht. 240,000,000
on December 6,
2013
The
latest registered capital
was increased to Bht. 240 million, divided
into 2,400,000 shares of
Bht. 100 each
with fully paid.
MAIN
SHAREHOLDERS : [as
at April 29,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Ms. Chalorsri Chanjaruchit Nationality: Thai Address : 92
Soi Prinsiri, Bangbon,
Bangbon, Bangkok |
240,881 |
10.04 |
|
Mr. Vitoon Angsuwattananon Nationality: Thai Address : 91, 93
Soi Prayamontart Rajasripijit Yaek 35,
Bangbon, Bangkok |
148,190 |
6.17 |
|
Mr. Methin Mareeanukroh Nationality: Thai Address : 555/59
Budhamonthon Sai 3
Road,
Salathammasop,
Taweewattana, Bangkok |
128,359 |
5.35 |
|
Mrs. Methaporn Visarutpong Nationality: Thai Address : 555/59
Budhamonthon Sai 3
Road,
Salathammasop,
Taweewattana, Bangkok |
128,357 |
5.35 |
|
Ms. Nuchada Mareeanukroh Nationality: Thai Address : 555/59
Budhamonthon Sai 3
Road,
Salathammasop,
Taweewattana, Bangkok |
128,357 |
5.35 |
|
Mr. Metha Mareeanukroh Nationality: Thai Address : 555/59
Budhamonthon Sai 3
Road,
Salathammasop,
Taweewattana, Bangkok |
120,000 |
5.00 |
|
Mr. Pornchai Ariyametin Nationality: Thai Address : 12
Soi Phaholyothin 46/2,
Anusawaree,
Bangkhen, Bangkok |
120,000 |
5.00 |
|
Ms. Prathana Ariyametin Nationality: Thai Address : 12
Soi Phaholyothin 46/2,
Anusawaree,
Bangkhen, Bangkok |
102,269 |
4.26 |
|
Ms. Naungruthai Ariyametin Nationality: Thai Address : 12 Soi Phaholyothin 46/2,
Anusawaree,
Bangkhen, Bangkok |
102,269 |
4.26 |
|
Ms. Raviwan Ariyamethin Nationality: Thai Address : 12
Soi Phaholyothin 46/2,
Anusawaree,
Bangkhen, Bangkok |
102,268 |
4.26 |
|
Others |
1,079,050 |
44.96 |
Total Shareholders : 26
Share Structure [as
at April 29,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
23 |
2,269,042 |
94.54 |
|
Foreign - Taiwanese |
3 |
130,958 |
5.46 |
|
Total |
26 |
2,400,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Patchanee Uawanapaksa
No. 6843
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 |
9,017,376.50 |
6,076,471.60 |
3,452,580.96 |
|
Trade Accounts Receivable
|
92,973,106.24 |
75,440,052.10 |
55,979,571.64 |
|
Postdated Cheque |
5,179,638.61 |
10,813,089.25 |
7,467,698.88 |
|
Other Receivable |
647,596.62 |
1,052,219.96 |
637,668.57 |
|
Deposit Prepaid |
1,556,750.30 |
23,936,661.57 |
9,785,381.50 |
|
Inventories |
66,924,491.03 |
95,096,952.72 |
117,960,753.95 |
|
|
|
|
|
|
Total Current Assets
|
176,298,959.30 |
212,415,447.20 |
195,283,655.50 |
|
|
|
|
|
|
Investment in Related Parties |
12,279,400.00 |
12,279,400.00 |
12,279,400.00 |
|
Fixed Assets |
496,290,220.51 |
365,642,357.28 |
337,957,016.44 |
|
Other Non - current Assets |
1,335,983.02 |
2,404,504.00 |
399,095.41 |
|
Total Assets |
686,204,562.83 |
592,741,708.48 |
545,919,167.35 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft |
14,884,428.02 |
18,260,754.93 |
19,310,823.59 |
|
Trade Accounts Payable
|
158,341,273.52 |
106,809,906.28 |
87,404,324.70 |
|
Accrued Expenses |
3,621,147.72 |
3,592,885.88 |
3,905,795.76 |
|
Current Portion of
Long-term Loans |
5,004,000.00 |
5,004,000.00 |
4,000,000.00 |
|
Short-term Loans |
62,020,000.00 |
50,839,900.00 |
93,700,000.00 |
|
Prepaid in Advance |
- |
58,200,000.00 |
- |
|
Accrued Income Tax |
2,394,156.10 |
1,773,006.29 |
2,539,454.84 |
|
Other Current Liabilities |
1,094,099.19 |
6,710,678.33 |
3,094,378.36 |
|
|
|
|
|
|
Total Current Liabilities |
247,359,104.55 |
251,191,131.71 |
213,954,777.25 |
|
Long-term Loans |
11,700,000.00 |
11,700,000.00 |
11,700,000.00 |
|
Long-term Loans from Financial Institutions |
119,656,000.00 |
116,660,000.00 |
101,500,000.00 |
|
Hire-purchase Payable |
1,854,954.56 |
1,010,815.24 |
437,928.43 |
|
Employee Benefits Obligation |
585,664.88 |
1,013,013.51 |
694,032.37 |
|
Total Liabilities |
38,155,723.99 |
381,574,960.46 |
328,286,738.05 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 2,400,000 shares in
2013; 1,400,000 shares in
2012 & 2011 |
240,000,000.00 |
140,000,000.00 |
140,000,000.00 |
|
|
|
|
|
|
Capital Paid |
240,000,000.00 |
140,000,000.00 |
140,000,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
14,000,000.00 |
14,000,000.00 |
14,000,000.00 |
|
Unappropriated |
51,048,838.84 |
57,166,748.02 |
63,632,429.30 |
|
Total Shareholders' Equity |
305,048,838.84 |
211,166,748.02 |
217,632,429.30 |
|
Total Liabilities & Shareholders' Equity |
686,204,562.83 |
592,741,708.48 |
545,919,167.35 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
511,624,464.82 |
476,797,427.89 |
373,231,547.56 |
|
Export Income |
33,031,726.05 |
40,471,087.83 |
20,343,744.61 |
|
Services Income |
12,164,519.99 |
12,795,690.89 |
8,684,668.37 |
|
Other Income |
2,874,771.90 |
4,269,178.05 |
3,246,222.97 |
|
Total Revenues |
559,695,482.76 |
534,333,384.66 |
405,506,183.51 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
466,979,284.54 |
454,707,980.78 |
342,390,962.14 |
|
Selling Expenses |
25,299,593.87 |
27,209,929.38 |
19,518,433.43 |
|
Administrative Expenses |
37,819,129.20 |
27,853,664.37 |
23,774,803.10 |
|
Other Expenses |
1,254,861.06 |
4,630.12 |
86,653.66 |
|
Total Expenses |
531,352,868.67 |
509,776,204.65 |
385,770,852.33 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
28,342,614.09 |
24,557,180.01 |
19,735,331.18 |
|
Financial Cost |
[9,960,367.17] |
[7,949,855.00] |
[8,124,554.71] |
|
Profit / [Loss] before Income
Tax |
18,382,246.92 |
16,607,325.01 |
11,610,776.47 |
|
Income Tax |
[4,494,156.10] |
[4,073,006.29] |
[4,489,454.84] |
|
|
|
|
|
|
Net Profit / [Loss] |
13,888,090.82 |
12,534,318.72 |
7,121,321.63 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.71 |
0.85 |
0.91 |
|
QUICK RATIO |
TIMES |
0.44 |
0.47 |
0.36 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.12 |
1.45 |
1.19 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.81 |
0.89 |
0.74 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
52.31 |
76.34 |
125.75 |
|
INVENTORY TURNOVER |
TIMES |
6.98 |
4.78 |
2.90 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
60.94 |
51.95 |
50.79 |
|
RECEIVABLES TURNOVER |
TIMES |
5.99 |
7.03 |
7.19 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
123.76 |
85.74 |
93.18 |
|
CASH CONVERSION CYCLE |
DAYS |
(10.51) |
42.55 |
83.37 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
83.87 |
85.78 |
85.12 |
|
SELLING & ADMINISTRATION |
% |
11.34 |
10.39 |
10.76 |
|
INTEREST |
% |
1.79 |
1.50 |
2.02 |
|
GROSS PROFIT MARGIN |
% |
16.65 |
15.02 |
15.69 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
5.09 |
4.63 |
4.91 |
|
NET PROFIT MARGIN |
% |
2.49 |
2.36 |
1.77 |
|
RETURN ON EQUITY |
% |
4.55 |
5.94 |
3.27 |
|
RETURN ON ASSET |
% |
2.02 |
2.11 |
1.30 |
|
EARNING PER SHARE |
BAHT |
5.79 |
8.95 |
5.09 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.56 |
0.64 |
0.60 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.25 |
1.81 |
1.51 |
|
TIME INTEREST EARNED |
TIMES |
2.85 |
3.09 |
2.43 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
5.05 |
31.77 |
|
|
OPERATING PROFIT |
% |
15.41 |
24.43 |
|
|
NET PROFIT |
% |
10.80 |
76.01 |
|
|
FIXED ASSETS |
% |
35.73 |
8.19 |
|
|
TOTAL ASSETS |
% |
15.77 |
8.58 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 5.05%. Turnover has increased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
16.65 |
Impressive |
Industrial
Average |
7.30 |
|
Net Profit Margin |
2.49 |
Deteriorated |
Industrial
Average |
5.17 |
|
Return on Assets |
2.02 |
Deteriorated |
Industrial
Average |
13.90 |
|
Return on Equity |
4.55 |
Deteriorated |
Industrial
Average |
25.51 |
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
16.65%. 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 2.49%.
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 2.02%.
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 4.55%.
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 |
0.71 |
Risky |
Industrial
Average |
1.62 |
|
Quick Ratio |
0.44 |
|
|
|
|
Cash Conversion Cycle |
(10.51) |
|
|
|
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 0.71 times in 2013, decreased from 0.85 times, then the company may not be
efficiently using its current assets. 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 0.44 times in 2013,
decreased from 0.47 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 -11 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.56 |
Acceptable |
Industrial
Average |
0.42 |
|
Debt to Equity Ratio |
1.25 |
Risky |
Industrial
Average |
0.73 |
|
Times Interest Earned |
2.85 |
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 2.85 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 0.56 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.12 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.81 |
Deteriorated |
Industrial
Average |
2.69 |
|
Inventory Conversion Period |
52.31 |
|
|
|
|
Inventory Turnover |
6.98 |
Impressive |
Industrial
Average |
4.98 |
|
Receivables Conversion Period |
60.94 |
|
|
|
|
Receivables Turnover |
5.99 |
Acceptable |
Industrial
Average |
8.71 |
|
Payables Conversion Period |
123.76 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.99 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 76 days at the
end of 2012 to 52 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 4.78 times in year 2012 to 6.98 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.81 times and 0.89 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.60.95 |
|
|
1 |
Rs.99.32 |
|
Euro |
1 |
Rs.78.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.