MIRA
INFORM REPORT
|
Report Date : |
27.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOLVAY PEROXYTHAI LIMITED |
|
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Formerly Known As : |
PEROXYTHAI LIMITED |
|
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Registered Office : |
16th-17th Floor,
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
29.07.1987 |
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Com. Reg. No.: |
0105530037339 [Former: 3731/2530] |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer of Hydrogen Peroxide,
Peracetic Acid and
Sodium Bicarbonate mainly
for paper, textile,
tannery, electronics, packaging
and dairy foods
processing industries. |
|
|
|
|
No of Employees : |
300 |
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 : |
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 |
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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 & address
SOLVAY PEROXYTHAI
LIMITED
[FORMER: PEROXYTHAI LIMITED]
SUMMARY
BUSINESS ADDRESS : 16th-17th FLOOR,
WAVE PLACE,
55 WIRELESS
ROAD, LUMPINI,
PATHUMWAN, BANGKOK
10330, THAILAND
TELEPHONE : [66] 2610-6470
FAX : [66] 2610-6479
E-MAIL ADDRESS : suebsantikul.dao@solvay.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1987
REGISTRATION NO. : 0105530037339 [Former: 3731/2530]
TAX ID NO. : 3101490916
CAPITAL REGISTERED : BHT.
419,057,925
CAPITAL PAID-UP : BHT.
419,057,925
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MRS. SIRIPORN WUTHILAOHAPHAN, THAI
MANAGING DIRECTOR
NO. OF STAFF : 300
LINES OF BUSINESS : HYDROGEN PEROXIDE
MANUFACTURER, EXPORTER
AND DISTRIBUTOR
|
|
|
CORPORATE PROFILE |
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH FAIR PERFORMANCE
HISTORY
The subject was
established on July
29, 1987 as
a private limited
company under the
registered name “Thai Peroxigen
Chemicals Co., Ltd.” by Thai-Dutch Groups, to manufacture
hydrogen peroxide for
both domestic and
international markets. On
March 14, 1988
the subject’s name
was changed to “Peroxythai
Limited”, and finally
changed to SOLVAY
PEROXYTHAI LIMITED on
September 22, 2008.
It currently employs
approximately 300 staff.
The subject is
a wholly owned
subsidiary of Solvay
Chemicals and Plastics
Holding B.V., in
Netherlands.
The subject is a
multi-national chemical company
with the headquarters in
Brussels, Belgium, and is the
largest manufacturer of
hydrogen peroxide in
Thailand.
It also achieved the
international quality standard
ISO 9001 : 2001
certification in May
2004 and received
the promotional privilege
from the Board
of Investment.
The subject’s registered
address was initially
located at 14th Flr., Green
Tower, 3656/41 Rama 4
Rd., Klongton, Klongtoey,
Bangkok 10110.
On September 22,
2008, it was
relocated to 16th-17th Flr., Wave
Place, 55 Wireless Rd., Lumpini, Pathumwan,
Bangkok 10330, and
this is the
company’s current operation
address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mrs. Siriporn Wuthilaohaphan |
|
Thai |
46 |
|
Mr. Andrew Leonard
Cumming |
|
British |
56 |
|
Mr. Wei Zou |
|
Chinese |
39 |
AUTHORIZED PERSON
Any two of
the above mentioned
directors can jointly
sign on behalf
of the subject
company’s affixed.
MANAGEMENT
Mrs. Siriporn Wuthilaohaphan is
the Managing Director.
She is Thai
nationality with the
age of 46
years old.
Ms. Phenchan Kwancharoensap is
the Account & Financial Manager.
She is Thai
nationality.
Mr. Samphan Wattanasurakij is
the Domestic Sales
Manager.
He is Thai
nationality.
Ms. Vibharat Pholdej is
the Regional Sales
and Marketing Manager.
She is Thai
nationality.
Ms. Ratana Boonyathiti
is the Administration &
Personnel Manager.
She is Thai
nationality.
Mr. Tippapol Kanchananut
is the Production
Manager.
He is Thai
nationality.
Ms. Chaveewan
Wattanachaiyongsakul is the
Factory Manager.
She is Thai
nationality.
Ms. Chanadda Hanphichanchai is
the Export Sales
Department Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activity is a
manufacturer of Hydrogen Peroxide,
Peracetic Acid and
Sodium Bicarbonate mainly
for paper, textile,
tannery, electronics, packaging
and dairy foods
processing industries.
BRAND NAMES
“SOLVAY”, “BICAR”
PRODUCTION
100,000 tons per
annum
PURCHASE
80% of raw materials
is purchased from
local suppliers, and
the remaining 20%
is imported from
Belgium, Netherlands, Japan,
United Kingdom, Malaysia,
Denmark and France.
MAJOR SUPPLIERS
Solvay Chemicals International
S.A. : Belgium
Dow Chemical [Thailand]
Co., Ltd. : Thailand
DISTRIBUTION
80% of the products
is sold locally
by wholesale to
related company and
manufacturers, and the
remaining 20% is exported
to Taiwan, Singapore,
Republic of China, Australia,
Hong Kong, Vietnam,
Indonesia, Japan, India
and Malaysia.
MAJOR CUSTOMERS
L.C. Industrial Co.,
Ltd. : Thailand
Phuvasu Co., Ltd. : Thailand
PARENT COMPANY
Solvay Chemicals and
Plastics Holding B.V.
: Netherlands
RELATED AND
AFFILIATED COMPANY
MTP HP JV
[Thailand] Co., Ltd.
Business Type :
Manufacturer of Hydrogen
Peroxide
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 on the
credits term of
60-90 days.
Imports are by
L/C at sight,
T/T or open
account.
Exports are against
L/C on the credit term
of 90 days
or T/T.
BUSINESS TRANSACTION
The subject is
not found to
have problem on
its account receivable
and payable due
to the products
are purchased, and
sold to related
company in both local and overseas which
term and conditions
can be negotiable.
BANKING
Kasikornbank Public Co.,
Ltd.
[Head Office
: 1 Kasikorn
Lane, Rajburana Rd.,
Rajburana, Bangkok 10140]
[Silom Branch
: 142 Silom
Rd., Silom, Bangrak,
Bangkok 10500 ]
Deutsche Bank AG
[Bangkok Branch
: 208 Wireless
Rd., Lumpini, Pathumwan,
Bangkok 10330]
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject currently
employs approximately 300
staff. [office staff
and factory workers]
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. It is
located in commercial
area.
Factories :
Factory I is located
at 1, 1-3A
Rd., Maptaphut Industrial
Estate, T. Maptaphut,
A. Muang, Rayong 21150,
Tel: [66] 38
683-616-20 Fax: [66]
38 683-624.
Factory II is located
at 10/3 Moo
2, T. Banchang, A. Banchang,
Rayong 21130.
COMMENT
The company has
efficiency improvements from
the production and
industrial expansion. It offers
a full range of
Hydrogen Peroxide to
meet with market
requirements. It is
the largest manufacturer
of Hydrogen Peroxide in the country
to support the
strong business growth
both in Thailand
and throughout the
region.
The success of
the company is
based on its flexibility
to adapt its
products and its
services to the
market requirements.
FINANCIAL
INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each.
The capital was
increased/decreased later as
the followings:
Bht. 290,000,000 on
August 9, 1989
Bht. 433,000,000 on
November 29, 1989
Bht. 573,000,000 on
June 24, 1991
Bht. 793,000,000 on March 5,
1993
Bht. 873,000,000 on
January 7, 1997
Bht. 838,115,850 on February
9, 2001 [Decreased]
Bht. 419,057,925 on November
24, 2004 [Decreased]
The latest registered
capital was decreased
to Bht. 419,057,925
divided into 16,762,317 shares
of Bht. 25
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as
of April 30,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Solvay Chemicals and
Plastics Holding B.V. Nationality : Dutch Address : Netherlands |
16,762,311 |
100.00 |
|
Solvay Zimi SA. Nationality : Belgian Address : Belgium |
1 |
- |
|
Solvay Participations Belgique
SA. Nationality : Belgian Address : Belgium
|
1 |
- |
|
Solvay Chemicals International SA. Nationality : Belgian Address : Belgium |
1 |
- |
|
Solvay Chemie B.V. Nationality : Dutch Address : Netherlands |
1 |
- |
|
Solvay Participations France
SA. Nationality : French Address : France |
1 |
- |
Solvay Interox Limited Nationality : British Address : England |
1 |
- |
Total Shareholders : 7
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
7 |
16,762,317 |
100.00 |
|
Total |
7 |
16,762,317 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUTANT :
Mr. Wanlop Vilaivoravit No.
6797
BALANCE SHEET
[BAHT]
The latest financial
figures published for
December 31, 2013,
2012 & 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash in Hand
& at Bank |
416,030,914 |
318,269,182 |
577,339,421 |
|
Trade Accounts Receivable |
201,132,867 |
159,398,613 |
156,432,724 |
|
Short-term Loan to
Related Company |
- |
12,000,000 |
48,000,000 |
|
Inventories |
105,913,777 |
56,097,994 |
109,455,729 |
|
Refundable Value Added Tax |
19,065,578 |
7,471,441 |
- |
|
Other Current Assets |
5,209,952 |
3,835,522 |
18,764,751 |
|
|
|
|
|
|
Total Current Assets
|
747,353,088 |
557,072,752 |
909,992,625 |
|
Investment in Related
Company |
100 |
100 |
100 |
|
Fixed Assets |
768,200,915 |
792,055,400 |
559,675,832 |
|
Intangible Assets |
2,549,288 |
2,815,948 |
2,903,788 |
|
Other Non-current Assets |
2,619,621 |
4,263,580 |
3,345,461 |
|
Total Assets |
1,520,723,012 |
1,356,207,780 |
1,475,917,806 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Accounts & Other Payable |
324,075,235 |
188,475,202 |
202,724,180 |
|
Short-term Estimated Liabilities |
13,978,061 |
13,059,863 |
23,850,805 |
|
Accrued Income Tax |
4,039,576 |
11,004,935 |
52,526,803 |
|
Accrued Dividend |
- |
- |
200,309,688 |
|
Other Current Liabilities
|
14,760,209 |
10,936,472 |
8,173,268 |
|
|
|
|
|
|
Total Current Liabilities |
356,853,081 |
223,476,472 |
487,584,744 |
|
Obligation from Employee’s Benefit
|
21,824,357 |
22,264,358 |
20,660,433 |
|
Total Liabilities |
378,677,438 |
245,740,830 |
508,245,177 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 25
par value authorized, issued
and fully paid share
capital 16,762,317 shares |
419,057,925 |
419,057,925 |
419,057,925 |
|
|
|
|
|
|
Capital Paid |
419,057,925 |
419,057,925 |
419,057,925 |
|
Retained Earning Appropriated for Statutory Reserve
|
21,651,821 |
21,651,821 |
21,651,821 |
|
Unappropriated |
701,335,828 |
669,757,204 |
526,962,883 |
|
Total Shareholders' Equity |
1,142,045,574 |
1,110,466,950 |
967,672,629 |
|
Total Liabilities &
Shareholders' Equity |
1,520,723,012 |
1,356,207,780 |
1,475,917,806 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
1,494,038,119 |
1,218,852,431 |
1,192,520,591 |
|
Services Income |
101,038,538 |
97,781,691 |
182,632,136 |
|
Gain on Exchange
Rate |
723,561 |
6,007,193 |
5,421,520 |
|
Interest Income |
5,703,759 |
6,718,254 |
11,529,086 |
|
Other Income |
26,279,486 |
27,599,952 |
14,561,251 |
|
Total Revenues |
1,627,783,463 |
1,356,959,521 |
1,406,664,584 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,165,416,212 |
775,545,108 |
680,966,588 |
|
Cost of Services |
96,227,179 |
93,125,420 |
155,789,318 |
|
Selling Expenses |
240,266,533 |
236,618,323 |
182,483,646 |
|
Administrative Expenses |
81,365,864 |
75,662,305 |
74,284,885 |
|
Total Expenses |
1,583,275,788 |
1,180,951,156 |
1,093,524,437 |
|
|
|
|
|
|
Profit before Income
Tax |
44,507,675 |
176,008,365 |
313,140,147 |
|
Income Tax |
[12,929,051] |
[33,214,044] |
[92,845,451] |
|
|
|
|
|
|
Net Profit / [Loss] |
31,578,624 |
142,794,321 |
220,294,696 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.09 |
2.49 |
1.87 |
|
QUICK RATIO |
TIMES |
1.73 |
2.19 |
1.60 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.08 |
1.66 |
2.46 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.05 |
0.97 |
0.93 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
30.64 |
23.57 |
47.75 |
|
INVENTORY TURNOVER |
TIMES |
11.91 |
15.48 |
7.64 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
46.03 |
44.19 |
41.52 |
|
RECEIVABLES TURNOVER |
TIMES |
7.93 |
8.26 |
8.79 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
93.76 |
79.19 |
88.43 |
|
CASH CONVERSION CYCLE |
DAYS |
(17.09) |
(11.43) |
0.84 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
79.10 |
65.98 |
60.85 |
|
SELLING & ADMINISTRATION |
% |
20.16 |
23.72 |
18.67 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
22.95 |
37.09 |
41.44 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.79 |
13.37 |
22.77 |
|
NET PROFIT MARGIN |
% |
1.98 |
10.85 |
16.02 |
|
RETURN ON EQUITY |
% |
2.77 |
12.86 |
22.77 |
|
RETURN ON ASSET |
% |
2.08 |
10.53 |
14.93 |
|
EARNING PER SHARE |
BAHT |
1.88 |
8.52 |
13.14 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.25 |
0.18 |
0.34 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.33 |
0.22 |
0.53 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
21.15 |
(4.26) |
|
|
OPERATING PROFIT |
% |
(74.71) |
(43.79) |
|
|
NET PROFIT |
% |
(77.89) |
(35.18) |
|
|
FIXED ASSETS |
% |
(3.01) |
41.52 |
|
|
TOTAL ASSETS |
% |
12.13 |
(8.11) |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is 21.15%. Turnover has increased from THB
PROFITABILITY : RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
22.95 |
Deteriorated |
Industrial Average |
62.38 |
|
Net Profit Margin |
1.98 |
Deteriorated |
Industrial Average |
6.26 |
|
Return on Assets |
2.08 |
Deteriorated |
Industrial Average |
6.99 |
|
Return on Equity |
2.77 |
Deteriorated |
Industrial Average |
11.35 |
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 22.95%. 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 1.98%.
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 2.08%.
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 2.77%.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
2.09 |
Impressive |
Industrial Average |
2.09 |
|
Quick Ratio |
1.73 |
|
|
|
|
Cash Conversion Cycle |
(17.09) |
|
|
|
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 2.09 times in 2013, decreased from 2.49 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was higher, indicated that company
was an efficient operator in a dominant position within its industry.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 1.73 times in 2013,
decreased from 2.19 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 -18 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.25 |
Impressive |
Industrial Average |
0.36 |
|
Debt to Equity Ratio |
0.33 |
Impressive |
Industrial Average |
0.56 |
|
Times Interest Earned |
- |
|
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.25 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 |
2.08 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.05 |
Satisfactory |
Industrial Average |
1.12 |
|
Inventory Conversion Period |
30.64 |
|
|
|
|
Inventory Turnover |
11.91 |
Impressive |
Industrial Average |
4.66 |
|
Receivables Conversion Period |
46.03 |
|
|
|
|
Receivables Turnover |
7.93 |
Impressive |
Industrial Average |
4.83 |
|
Payables Conversion Period |
93.76 |
|
|
|
The company's Account Receivable Ratio is calculated as 7.93 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 24 days at the
end of 2012 to 31 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 15.48 times in year 2012 to 11.91
times in year 2013.
The company's Total Asset Turnover is calculated as 1.05 times and 0.97
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.61.57 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.78.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.