MIRA INFORM REPORT
|
Report No. : |
314706 |
|
Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
HACO ELECTRIC [THAILAND] CO., LTD. |
|
|
|
|
Formerly Known As : |
P. C. ELECTECH [THAILAND] CO.,
LTD. |
|
|
|
|
Registered Office : |
23/1 Moo 2, Soi 9, Ngamwongwan
Road, T. Bangkhen, A.
Muang, Nonthaburi 11000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
25.03.2004 |
|
|
|
|
Com. Reg. No.: |
0105547043329 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in
importing and distributing various
kinds of electrical equipments, such as
switches, plugs, lighting, conduits, switchboard, ballast,
capacitors, circuit breakers, high-low voltage electrical
equipment, inverter, control
equipment, electric wire,
cable ties, industrial
switch gears, HRC
fuse link & fuse bases,
sockets, floor sockets,
tuning, safety breaker,
lighting equipment, MCB,
RCDS consumer units. |
|
|
|
|
No. of Employees : |
50 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
THAILAND - ECONOMIC OVERVIEW
With a well-developed
infrastructure, a free-enterprise economy, generally pro-investment policies, and
strong export industries, Thailand achieved steady growth due largely to
industrial and agriculture exports - mostly electronics, agricultural
commodities, automobiles and parts, and processed foods. Unemployment, at less
than 1% of the labor force, stands as one of the lowest levels in the world,
which puts upward pressure on wages in some industries. Thailand also attracts
nearly 2.5 million migrant workers from neighboring countries. The Thai
government in 2013 implemented a nation-wide 300 baht ($10) per day minimum
wage policy and deployed new tax reforms designed to lower rates on
middle-income earners. The Thai economy has weathered internal and external
economic shocks in recent years. The global economic recession severely cut
Thailand's exports, with most sectors experiencing double-digit drops. In late
2011 Thailand's recovery was interrupted by historic flooding in the industrial
areas in Bangkok and its five surrounding provinces, crippling the
manufacturing sector. The government approved flood mitigation projects worth
$11.7 billion, which were started in 2012, to prevent similar economic damage,
and an additional $75 billion for infrastructure over the following seven
years. This was expected to lead to an economic upsurge but growth has remained
slow, in part due to ongoing political unrest and resulting uncertainties.
Spending on infrastructure will require re-approval once a new government is
seated.
|
Source
: CIA |
Company
name
HACO ELECTRIC
[THAILAND] CO., LTD.
[FORMER : P. C. ELECTECH
[THAILAND] CO., LTD.]
SUMMARY
BUSINESS ADDRESS : 23/1 MOO 2,
SOI 9, NGAMWONGWAN
ROAD,
T.
BANGKHEN, A. MUANG,
NONTHABURI
11000, THAILAND
TELEPHONE : [66] 2952-6778,
2952-7150-7
FAX : [66] 2952-5334
E-MAIL ADDRESS : marketing@hacothailand.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2004
REGISTRATION NO. : 0105547043329
TAX ID NO. : 3031322219
CAPITAL REGISTERED : BHT.
50,000,000
CAPITAL PAID-UP : BHT.
50,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. VIRA VANICHYANYONG, THAI
MANAGING DIRECTOR
NO. OF STAFF : 50
LINES OF BUSINESS : ELECTRICAL EQUIPMENT
IMPORTER AND
DISTRIBUTOR
|
|
|
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 March
25, 2004 as
a private limited
company under the
originally registered name “P.C. Electech [Thailand] Co., Ltd.” by
Thai groups. On
December 26, 2007,
subject’s name was
changed to HACO
ELECTRIC [THAILAND] CO., LTD. Its
business objective is an
importer and distributor
various kinds of
electrical equipment to
domestic market. It
currently employs approximately
50 staff.
The subject’s registered address
was initially at 408 Rama 3 Rd.,
Bangklo, Bangkorlaem, Bangkok 10120.
On June 25, 2009,
the registered address
was relocated to
23/1 Moo 2, Soi 9,
Ngamwongwan Rd., T. Bangkhen, A. Muang, Nonthaburi 11000, and
this is the
company’s current operation
address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Vira Vanichyanyong |
|
Thai |
76 |
|
Mr. Varakit Vanichyanyong |
|
Thai |
42 |
|
Mr. Thasaphan Vanichyanyong |
|
Thai |
38 |
|
Ms. Orawan Vanichyanyong |
|
Thai |
44 |
AUTHORIZED PERSON
Any two of the
above directors can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Vira Vanichyanyong is
the Managing Director.
He is Thai
nationality with the
age of 76
years old.
Mr. Varakit Vanichyanyong is
the General Manager.
He is Thai nationality with
the age of 42 years
old.
Mr. Thasaphan Vanichyanyong is
the Marketing Manager.
He is Thai
nationality with the
age of 38
years old.
Mr. Sumeth Numthong is
the Human Resources
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in importing
and distributing various
kinds of electrical equipments,
such as switches, plugs,
lighting, conduits, switchboard,
ballast, capacitors, circuit
breakers, high-low voltage electrical equipment, inverter,
control equipment, electric
wire, cable ties,
industrial switch gears,
HRC fuse link & fuse bases,
sockets, floor sockets,
tuning, safety breaker,
lighting equipment, MCB, RCDS consumer
units.
MAJOR BRANDS
“UNIVOLT”, “FERMAX”, “PHILIPS”,
“NUEVO”, “LITEGUARD”, “BULKHEAD”,
“SWE”, “TURBO”, “PLUG
TOP”, “PRONTO”, “DECO”,
“T & J”, “PCE”, “MIRACLE”
and etc.
IMPORT
Most of the
products are imported
from Germany, Spain,
Austria, Denmark, Hong Kong, Korea,
Taiwan, Singapore, United Kingdom,
Republic of China,
India, Japan and
Malaysia.
MAJOR SUPPLIERS
PC Electric GmbH. : Germany
T & J Electrical International
Ltd. : United Kingdom
Dietzel GmbH : Germany
Philips Lighting [Thailand]
Co., Ltd. : Thailand
SALES
99% of the products is distributed and supplied locally by wholesale to
construction contractors, manufacturers
and end-users both
private and government
sectors, the remaining
1% is exported
to Laos and
Vietnam.
MAJOR CUSTOMERS
Boonthavorn Ceramic Co.,
Ltd. : Thailand
DP Solutions Co.,
Ltd. : Thailand
Saengkamol Faifa Co.,
Ltd. : Thailand
Progress Top Group
Co., Ltd. : Thailand
Mahathon Electric Limited
Partnership : Thailand
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 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 50 staff.
LOCATION DETAILS
The premise is
owned for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Warehouse is located
at 39/24 Moo
4, 345 Rd.,
T. Laharn, A. Bangbuathong,
Nonthaburi 11110.
COMMENT
The subject was
formed in 2004 as
an importer and
distributor of electrical
equipments. Despite slow consumption
from industrial and
construction sector, the
subject’s business remained
promising, as well
as expecting to
maintain a good
business with stable
growth.
FINANCIAL INFORMATION
The capital was
registered at Bht. 10,000,000 divided into 100,000
shares of Bht. 100
each.
The capital was
increased later as
follows:
Bht. 25,000,000 on November 17,
2009
Bht. 50,000,000 on September 19,
2014
The latest capital
was increased to Bht. 50,000,000 divided
into 500,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as
at November 26,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Vira Vanichyanyong Nationality: Thai Address : 150/49-51
Lanluang Rd., Klongmahanark,
Pomprab, Bangkok |
125,000 |
25.00 |
|
Mrs. Pornphan Vanichyanyong Nationality: Thai Address : 31/14
Damrongrak Rd., Klongmahanark,
Pomprab, Bangkok |
75,000 |
15.00 |
|
Mr. Varakit Vanichyanyong Nationality: Thai Address : 23/1 Moo
2, Bangkhen, Muang,
Nonthaburi |
75,000 |
15.00 |
|
Mr. Thasaphan Vanichyanyong Nationality: Thai Address : 23/1
Moo 2, Bangkhen,
Muang, Nonthaburi |
75,000 |
15.00 |
|
Ms. Orawan Vanichyanyong Nationality: Thai Address : 23/1
Moo 2, Bangkhen,
Muang, Nonthaburi |
75,000 |
15.00 |
|
Ms. Nanthawan Vanichyanyong Nationality: Thai Address : 23/1
Moo 2, Bangkhen,
Muang, Nonthaburi |
75,000 |
15.00 |
Total Shareholders : 6
Share Structure [as
at November 26,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
6 |
500,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Natchalaikorn Wannasilp No.
7825
BALANCE SHEET
[BAHT]
The latest financial
figures published for
December 31, 2013,
2012 & 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
7,228,372.61 |
8,527,715.56 |
4,255,053.33 |
|
Short-term Investment |
2,845,132.78 |
2,700,000.00 |
100,000.00 |
|
Trade Accounts & Other
Receivable |
122,337,959.91 |
137,936,142.12 |
104,272,722.91 |
|
Inventories |
56,117,590.45 |
59,220,971.53 |
45,241,692.19 |
|
Total Current Assets
|
188,529,055.75 |
208,384,829.21 |
153,869,468.43 |
|
|
|
|
|
|
Other Short-term Investment |
20,264,425.16 |
10,621,143.97 |
10,313,348.60 |
|
Fixed Assets |
12,007,304.71 |
7,092,548.52 |
8,023,629.94 |
|
Intangible Assets |
5,510.42 |
20,510.42 |
35,510.42 |
|
Other Non-current Assets |
1,286,150.00 |
1,206,350.00 |
1,034,350.00 |
|
Total Assets |
222,092,446.04 |
227,325,382.12 |
173,276,307.39 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institution |
3,997,080.19 |
9,981,693.01 |
6,491,496.60 |
|
Trade Accounts & Other Payable |
94,785,242.70 |
122,224,193.13 |
98,481,851.06 |
|
Current Portion of Long-term Liabilities |
1,268,316.00 |
432,000.00 |
432,000.00 |
|
Other Current Liabilities |
2,204,559.83 |
3,099,045.65 |
1,682,817.98 |
|
Total Current Liabilities |
102,255,198.72 |
135,736,931.79 |
107,088,165.64 |
|
|
|
|
|
|
Long-term Loan from Person
or Related Company |
44,265,768.16 |
31,165,240.71 |
19,814,247.71 |
|
Other Non-current Liabilities |
28,000.00 |
28,000.00 |
28,000.00 |
|
Total Liabilities |
146,548,966.88 |
166,930,172.50 |
126,930,413.35 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and fully paid share
capital 250,000 shares |
25,000,000.00 |
25,000,000.00 |
25,000,000.00 |
|
Capital Paid |
25,000,000.00 |
25,000,000.00 |
25,000,000.00 |
|
Retained Earning -
Unappropriated |
50,543,479.16 |
35,395,209.62 |
21,345,894.04 |
|
Total Shareholders' Equity |
75,543,479.16 |
60,395,209.61 |
46,345,894.04 |
|
Total Liabilities & Shareholders' Equity |
222,092,446.04 |
227,325,382.12 |
173,276,307.39 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
474,000,235.36 |
485,042,527.70 |
352,745,485.34 |
|
Other Income |
1,244,744.23 |
2,449,042.28 |
309,710.08 |
|
Total Revenues |
475,244,979.59 |
487,491,569.98 |
353,055,195.42 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
311,564,387.42 |
337,990,524.23 |
239,337,795.97 |
|
Selling Expenses |
73,851,902.01 |
71,151,784.34 |
55,966,430.34 |
|
Administrative Expenses |
68,793,009.88 |
57,979,838.36 |
46,879,387.07 |
|
Other Expenses |
- |
- |
323,769.39 |
|
Total Expenses |
454,209,299.31 |
467,122,146.93 |
342,507,382.77 |
|
Profit / [Loss] before Financial Cost & Income Tax |
21,035,680.28 |
20,369,423.05 |
10,547,812.65 |
|
Financial Cost |
[1,227,658.29] |
[1,459,125.27] |
[842,772.84] |
|
Profit / [Loss] before Income
Tax |
19,808,021.99 |
18,910,297.78 |
9,705,039.81 |
|
Income Tax |
[4,659,752.45] |
[4,860,982.20] |
[3,108,191.81] |
|
Net Profit / [Loss] |
15,148,269.54 |
14,049,315.58 |
6,596,848.00 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.84 |
1.54 |
1.44 |
|
QUICK RATIO |
TIMES |
1.29 |
1.10 |
1.01 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
39.48 |
68.39 |
43.96 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.13 |
2.13 |
2.04 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
65.74 |
63.95 |
69.00 |
|
INVENTORY TURNOVER |
TIMES |
5.55 |
5.71 |
5.29 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
94.21 |
103.80 |
107.90 |
|
RECEIVABLES TURNOVER |
TIMES |
3.87 |
3.52 |
3.38 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
111.04 |
131.99 |
150.19 |
|
CASH CONVERSION CYCLE |
DAYS |
48.91 |
35.76 |
26.70 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
65.73 |
69.68 |
67.85 |
|
SELLING & ADMINISTRATION |
% |
30.09 |
26.62 |
29.16 |
|
INTEREST |
% |
0.26 |
0.30 |
0.24 |
|
GROSS PROFIT MARGIN |
% |
34.53 |
30.82 |
32.24 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.44 |
4.20 |
2.99 |
|
NET PROFIT MARGIN |
% |
3.20 |
2.90 |
1.87 |
|
RETURN ON EQUITY |
% |
20.05 |
23.26 |
14.23 |
|
RETURN ON ASSET |
% |
6.82 |
6.18 |
3.81 |
|
EARNING PER SHARE |
BAHT |
60.59 |
56.20 |
26.39 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.66 |
0.73 |
0.73 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.94 |
2.76 |
2.74 |
|
TIME INTEREST EARNED |
TIMES |
17.13 |
13.96 |
12.52 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(2.28) |
37.50 |
|
|
OPERATING PROFIT |
% |
3.27 |
93.12 |
|
|
NET PROFIT |
% |
7.82 |
112.97 |
|
|
FIXED ASSETS |
% |
69.29 |
(11.60) |
|
|
TOTAL ASSETS |
% |
(2.30) |
31.19 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is -2.28%. Turnover has decreased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
34.53 |
Satisfactory |
Industrial Average |
38.08 |
|
Net Profit Margin |
3.20 |
Impressive |
Industrial Average |
1.94 |
|
Return on Assets |
6.82 |
Impressive |
Industrial Average |
3.75 |
|
Return on Equity |
20.05 |
Impressive |
Industrial Average |
10.52 |
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 34.53%. 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 3.2%, higher
figure when compared with those of its average competitors in the same
industry, indicated that business was an efficient operator in a dominant position within its industry.
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
6.82%, 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 20.05%, 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 :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.84 |
Impressive |
Industrial Average |
1.60 |
|
Quick Ratio |
1.29 |
|
|
|
|
Cash Conversion Cycle |
48.91 |
|
|
|
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 1.84 times in 2013, increased from 1.54 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 1.29 times in 2013,
increased from 1.1 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 49 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.66 |
Acceptable |
Industrial Average |
0.63 |
|
Debt to Equity Ratio |
1.94 |
Risky |
Industrial Average |
1.68 |
|
Times Interest Earned |
17.13 |
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 17.14 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 0.66 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
39.48 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
2.13 |
Impressive |
Industrial Average |
1.93 |
|
Inventory Conversion Period |
65.74 |
|
|
|
|
Inventory Turnover |
5.55 |
Impressive |
Industrial Average |
4.09 |
|
Receivables Conversion Period |
94.21 |
|
|
|
|
Receivables Turnover |
3.87 |
Impressive |
Industrial Average |
3.08 |
|
Payables Conversion Period |
111.04 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.87 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 64 days at the
end of 2012 to 66 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 5.71 times in year 2012 to 5.55 times
in year 2013.
The company's Total Asset Turnover is calculated as 2.13 times and 2.13
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 Downtrend
Inventory Turnover Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.45 |
|
Euro |
1 |
Rs.67.51 |
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.