MIRA INFORM REPORT
|
Report No. : |
336506 |
|
Report Date : |
18.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
MARUBENI
THAILAND CO., LTD. |
|
|
|
|
Formerly Known As : |
SIAM TRADING AND INVESTMENT CO., LTD. |
|
|
|
|
Registered Office : |
10th -11th Floor, Sindhorn Building, Tower 2, 130-132, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
26.07.1974 |
|
|
|
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Com. Reg. No.: |
0105517008819 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Trading, Financial Supporting and Investment |
|
|
|
|
No. of Employees : |
140 |
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 |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Thailand |
A2 |
A2 |
|
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, and generally pro-investment policies Thailand has historically had a
strong economy due in part to competitive industrial and agriculture exports - mostly
electronics, agricultural commodities, automobiles and parts, and processed
foods. The economy experienced slow growth and declining exports in 2014, in
part due to domestic political turmoil and sluggish global demand. With full
employment, Thailand attracts an estimated 2-4 million migrant workers from
neighboring countries, and faces labor shortages. Following the May 2014 coup
d’tat, tourism decreased 6-7% but is beginning to recover. The household debt
to GDP ratio is over 80%. 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 baht has remained
stable.
|
Source
: CIA |
Company
Name
MARUBENI THAILAND CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 10th -11th FLOOR, SINDHORN BUILDING, TOWER 2,
130-132
WIRELESS
ROAD, LUMPINI,
PATHUMWAN, BANGKOK 10330,
THAILAND
TELEPHONE : [66] 2256-6900
FAX :
[66] 2263-3760,
2256-6093
E-MAIL
ADDRESS : bgkadmi@bgk.marubenicorp.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1974
REGISTRATION
NO. : 0105517008819 [Former: 888/2517]
TAX
ID NO. : 3101076257
CAPITAL REGISTERED : BHT. 300,000,000
CAPITAL PAID-UP : BHT.
300,000,000
SHAREHOLDER’S PROPORTION : FOREIGN : 100%
FISCAL YEAR CLOSING DATE : MARCH
31 [FORMER :
DECEMBER 31]
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. HARUMICHI TANABE,
JAPANESE
PRESIDENT
NO.
OF STAFF : 140
LINES
OF BUSINESS : TRADING,
FINANCIAL SUPPORTING
AND INVESTMENT
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 26,
1974 as a
private limited company
under the registered name “Siam
Trading and Investment
Co., Ltd.” by Japanese groups. On
March 5, 1984, its
name was changed to MARUBENI
THAILAND CO., LTD.
The business
objective is engaged
in domestic and
international trade, as
well as financial
support and investment
in various industries,
with current employment
of 140 staff.
It obtained the
ISO 14001 certification
from Lloyd’s Register
Quality Assurance [LRQA]
for environmental system
in February 2000.
Subject
is a wholly
owned subsidiary of Marubeni
Asean Pte. Ltd.,
Singapore.
The
subject’s registered address
is 10th-11th Flr.,
Sindhorn Building, Tower 2, 130-132
Wireless Road, Lumpini, Pathumwan, Bangkok 10330, and this is the
subject’s current operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Ryoji Ikai |
|
Japanese |
44 |
|
Mr. Harumichi Tanabe |
|
Japanese |
57 |
|
Mr. Hiroshi Toriyama |
|
Japanese |
54 |
|
Mr. Takeshi Suzuki |
|
Japanese |
50 |
|
Mr. Masayuki Kurihara |
|
Japanese |
51 |
|
Mr. Koichi Takaya |
|
Japanese |
54 |
|
Mr. Nobuyoshi Fujihira |
|
Japanese |
52 |
|
Mr. Chiharu Takeshima |
|
Japanese |
46 |
|
Mr. Kazumi Manabe |
|
Japanese |
43 |
|
Mr. Tsunekazu Miyauchi |
|
Japanese |
41 |
|
Mr. Manabu Yoshida |
|
Japanese |
56 |
AUTHORIZED
PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Harumichi Tanabe is
the President.
He is Japanese
nationality with the
age of 57
years old.
Mr. Tsunekazu Miyauchi is
the VP and
Chief Financial Officer.
He is Japanese
nationality with the
age of 41
years old.
Mr. Katsunori Kobayashi is
the Chief Account
Officer.
He is Japanese
nationality with the
age of 51
years old.
Mr. Chiharu Takeshima is
the VP [Produce & Food Division].
He is Japanese
nationality with the
age of 46
years old.
Mr. Kazumi Manabe is
the VP [Metal
Division].
He is Japanese
nationality with the
age of 43
years old.
Mr. Nobuyoshi Fujihira is
the VP [Machinery/ Plant/ General Merchandise].
He is Japanese
nationality with the
age of 52
years old.
Mr. Manabu Yoshida is
the VP [Textile/Development Group].
He is Japanese
nationality with the
age of 56
years old.
Mr. Takeshi Suzuki is
the VP [Chemical/Energy].
He is Japanese
nationality with the
age of 50
years old.
BUSINESS
OPERATIONS
The subject is engaged in
importing, exporting, financial
supporting and investment
activities to cover
the range from
the development of
natural resources to
retail marketing wide
range of finished
products, which can
be divided into
7 main products
group as follows:
-
Textile/ Liestyle
Group
-
Metal Group
-
Machinery
Group
-
Chemical
& Energy Group
-
Produce & Food Group
-
General
Merchandise and Construction
Group
-
Development
Group
PURCHASE
The products are
purchased from both
local and overseas
suppliers mainly in
Japan,
United States of
America, European and
other Asian countries.
SALES
The products
are sold locally by
wholesale to manufacturers, and
end-users both private
and government sectors.
EXPORT
The products are
exported to U.S.A.,
Australia, South Africa
and the countries
in Asia and
Europe.
PARENT
COMPANY
Marubeni Asean Pte.
Ltd.
Address : 16
Raffles Quay, #13-00 Hong Leong Bldg., Singapore 048581.
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 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
L/C at sight
or T/T.
BANKING
Bangkok Bank Public Co.,
Ltd.
Kasikornbank Public Co.,
Ltd.
Bank of Tokyo-Mitsubishi UFJ
Ltd.
EMPLOYMENT
The
subject employs approximately
140 staff.
LOCATION DETAILS
The
premises is rented
for administrative office
at the heading
address. Premises is
located in a
prime commercial area.
International Branch
-
Marubeni
Thailand Co., Ltd.
[Vientiane Liaison Office]
347 Phonkheng Rd.,
Phonphanao Village, Saysettha
District, Vientiane Capital,
Lao P.D.R.
COMMENT
In
2014, the domestic
situation was a
challenging factor to the development
of the company’s business.
Thailand was fraught
with grim economic
conditions from the
politic unrest during
the first half,
a deceleration of
overall economic growth
from a drop
in agricultural products
prices, lower- than-
expected export growth
to rising household debts.
Business environment in
the country has
a negative impact
and this led
to a slowdown
in private and
household consumption.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 10,000
shares of Bht.
100 each.
The
capital was increased
later as following:
Bht. 2,200,000
on September 3,
1979
Bht. 12,000,000
on November 13,
1985
Bht. 24,000,000
on January 11,
1990
Bht.
100,000,000 on September 10, 1992
Bht.
300,000,000 on December 25, 2000
The
latest registered capital
was increased to
Bht. 300,000,000 divided into
3,000,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
July 29, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Marubeni Asean Pte.
Ltd. Nationality: Singaporean Address :
16 Raffles Quay, #13-00 Hong Leong Bldg.,
Singapore 048581 |
2,999,998 |
100.00 |
|
Mr. Hisamichi Koga Nationality: Japanese Address : 11
Sukhumvit 41 Road,
Klongtonnua,
Wattana, Bangkok |
1 |
- |
|
Mr. Tsunekazu Miyauchi Nationality: Japanese Address : 88/333
Sukhumvit 55 Road,
Klongtonnua,
Wattana, Bangkok |
1 |
- |
Total Shareholders : 3
Share Structure [as
at July 29,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
3 |
3,000,000 |
100.00 |
|
Total |
3 |
3,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Gingkarn Asawarangsarit No. 4496
Note:
On August 22,
2012, the company
was approved by
the Revenue Department
to change the
company’s financial year
end from December
31 to March
31. Therefore, the
company’s financial year
end in 2013
is as of March
31, 2013 [three
months only].
BALANCE
SHEET [BAHT]
The
latest financial figures
published for March
31, 2015, 2014
& 2013 were:
ASSETS
|
Current Assets |
2015 |
2014 |
2013 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
25,565,891 |
53,667,809 |
23,180,049 |
|
Trade Accounts and
Other Receivable |
1,441,318,120 |
1,422,750,911 |
1,848,917,588 |
|
Unbilled Income |
485,187,496 |
490,991,974 |
822,426,623 |
|
Short-term Loans |
621,000,000 |
525,000,000 |
616,000,000 |
|
Inventories |
1,235,440,445 |
1,382,028,988 |
1,817,071,523 |
|
Advance Payment |
28,807,011 |
33,026,532 |
98,287,436 |
|
Other Current Assets
|
23,289,357 |
19,931,003 |
8,296,231 |
|
|
|
|
|
|
Total Current Assets
|
3,860,608,320 |
3,927,397,217 |
5,234,179,450 |
|
Investment in Subsidiary |
- |
- |
779,900 |
|
Investment in Associated Company |
8,186,780 |
8,186,780 |
8,186,780 |
|
Other Long-term Investment |
92,776,255 |
94,276,256 |
94,276,256 |
|
Fixed Assets |
27,572,587 |
12,590,906 |
5,621,251 |
|
Deferred Income Tax Assets |
42,734,931 |
44,739,643 |
42,834,553 |
|
Other Non-current Assets |
21,745,706 |
22,120,871 |
20,404,465 |
|
Total Assets |
4,053,624,579 |
4,109,311,673 |
5,406,282,655 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2015 |
2014 |
2013 |
|
|
|
|
|
|
Short-term Loan from
Bank |
424,000,000 |
275,000,000 |
1,157,000,000 |
|
Trade Account and
Other Payable |
1,165,929,091 |
1,646,831,839 |
1,909,444,108 |
|
Unbilled Cost of
Work |
484,770,148 |
490,902,937 |
821,900,138 |
|
Deposit and Advance
Income |
33,672,019 |
36,118,059 |
95,981,628 |
|
Accrued Income Tax |
33,944,995 |
24,192,663 |
28,958,000 |
|
Other Current Liabilities |
15,525,196 |
22,417,910 |
26,502,687 |
|
|
|
|
|
|
Total Current Liabilities |
2,157,841,449 |
2,495,463,408 |
4,039,786,561 |
|
Reserve for Long-term
Employee Benefit |
21,783,572 |
16,963,728 |
7,282,769 |
|
Total Liabilities |
2,179,625,021 |
2,512,427,136 |
4,047,069,330 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value authorized and
issued share capital 3,000,000
shares |
300,000,000 |
300,000,000 |
300,000,000 |
|
|
|
|
|
|
Capital Paid |
300,000,000 |
300,000,000 |
300,000,000 |
|
Retained Earning Appropriated for - statutory reserve |
30,000,000 |
30,000,000 |
30,000,000 |
|
Unappropriated [deficit] |
1,543,999,558 |
1,266,884,537 |
1,029,213,325 |
|
Total Shareholders' Equity
|
1,873,999,558 |
1,596,884,537 |
1,359,213,325 |
|
Total Liabilities & Shareholders'
Equity |
4,053,624,579 |
4,109,311,673 |
5,406,282,655 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2015 |
2014 |
Jan. 1,
2013 - Mar. 31, 2013 |
|
|
|
|
|
|
Sales and Service
Income |
16,501,623,101 |
17,874,204,277 |
4,519,241,088 |
|
Commission Income |
150,016,285 |
150,209,244 |
36,707,415 |
|
Other Income |
49,772,622 |
63,327,129 |
15,194,614 |
|
Total Revenues |
16,701,412,008 |
18,087,740,650 |
4,571,143,117 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold and Service
|
15,896,434,247 |
17,332,017,392 |
4,411,139,649 |
|
Selling Expenses |
316,770,209 |
312,851,475 |
108,234,704 |
|
Administrative Expenses |
127,057,620 |
128,430,702 |
20,135,611 |
|
Total Expenses |
16,340,262,076 |
17,773,299,569 |
4,539,509,964 |
|
|
|
|
|
|
Profit / Loss] before Financial
Cost and Income Tax |
361,149,932 |
314,441,081 |
31,633,153 |
|
Financial Cost |
[14,229,674] |
[20,295,462] |
[6,290,301] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax
|
346,920,258 |
294,145,619 |
25,342,852 |
|
Income Tax |
[69,805,237] |
[56,474,407] |
[4,903,902] |
|
Net Profit / [Loss] |
277,115,021 |
237,671,212 |
20,438,950 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2015 |
2014 |
2013 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.79 |
1.57 |
1.30 |
|
QUICK RATIO |
TIMES |
1.19 |
1.00 |
0.82 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
598.48 |
1,419.61 |
803.96 |
|
TOTAL ASSETS TURNOVER |
TIMES |
4.07 |
4.35 |
0.84 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
28.37 |
29.10 |
150.35 |
|
INVENTORY TURNOVER |
TIMES |
12.87 |
12.54 |
2.43 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
31.88 |
29.05 |
149.33 |
|
RECEIVABLES TURNOVER |
TIMES |
11.45 |
12.56 |
2.44 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
26.77 |
34.68 |
158.00 |
|
CASH CONVERSION CYCLE |
DAYS |
33.48 |
23.48 |
141.69 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
96.33 |
96.97 |
97.61 |
|
SELLING & ADMINISTRATION |
% |
2.69 |
2.47 |
2.84 |
|
INTEREST |
% |
0.09 |
0.11 |
0.14 |
|
GROSS PROFIT MARGIN |
% |
4.88 |
4.23 |
3.54 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.19 |
1.76 |
0.70 |
|
NET PROFIT MARGIN |
% |
1.68 |
1.33 |
0.45 |
|
RETURN ON EQUITY |
% |
14.79 |
14.88 |
1.50 |
|
RETURN ON ASSET |
% |
6.84 |
5.78 |
0.38 |
|
EARNING PER SHARE |
BAHT |
92.37 |
79.22 |
6.81 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.54 |
0.61 |
0.75 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.16 |
1.57 |
2.98 |
|
TIME INTEREST EARNED |
TIMES |
25.38 |
15.49 |
5.03 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(7.68) |
295.51 |
|
|
OPERATING PROFIT |
% |
14.85 |
894.02 |
|
|
NET PROFIT |
% |
16.60 |
1,062.83 |
|
|
FIXED ASSETS |
% |
118.99 |
123.99 |
|
|
TOTAL ASSETS |
% |
(1.36) |
(23.99) |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is -7.68%. Turnover has decreased from THB
17,874,204,277.00 in 2014 to THB 16,501,623,101.00 in 2015. While net profit
has increased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
4.88 |
Deteriorated |
Industrial
Average |
28.51 |
|
Net Profit Margin |
1.68 |
Deteriorated |
Industrial
Average |
4.94 |
|
Return on Assets |
6.84 |
Acceptable |
Industrial
Average |
9.55 |
|
Return on Equity |
14.79 |
Acceptable |
Industrial
Average |
22.60 |
Gross Profit Margin used to assess a firm's financial health by revealing
the proportion of money left over from revenues after accounting for the cost
of goods sold. Gross profit margin serves as the source for paying additional
expenses and future savings. The company's figure is 4.88%. 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 1.68%.
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 6.84%.
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 14.79%.
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 |
1.79 |
Impressive |
Industrial
Average |
1.57 |
|
Quick Ratio |
1.19 |
|
|
|
|
Cash Conversion Cycle |
33.48 |
|
|
|
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 1.79 times in 2015, increased from 1.57 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 1.19 times in 2015,
increased from 1 time, 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 34 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.54 |
Impressive |
Industrial
Average |
0.58 |
|
Debt to Equity Ratio |
1.16 |
Acceptable |
Industrial
Average |
1.39 |
|
Times Interest Earned |
25.38 |
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 25.39 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 0.54 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 |
598.48 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
4.07 |
Impressive |
Industrial
Average |
2.03 |
|
Inventory Conversion Period |
28.37 |
|
|
|
|
Inventory Turnover |
12.87 |
Impressive |
Industrial
Average |
5.62 |
|
Receivables Conversion Period |
31.88 |
|
|
|
|
Receivables Turnover |
11.45 |
Impressive |
Industrial
Average |
5.19 |
|
Payables Conversion Period |
26.77 |
|
|
|
The company's Account Receivable Ratio is calculated as 11.45 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 29 days at the
end of 2014 to 28 days at the end of 2015. This represents a positive trend.
And Inventory turnover has increased from 12.54 times in year 2014 to 12.87
times in year 2015.
The company's Total Asset Turnover is calculated as 4.07 times and 4.35
times in 2015 and 2014 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.65.22 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.