MIRA INFORM REPORT
|
Report No. : |
337710 |
|
Report Date : |
21.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAHA SEIREN CO.,
LTD. |
|
|
|
|
Registered Office : |
592 Moo 11, Sukaphiban 8 Road, T. Nongkham, A. Sriracha, Chonburi 20280 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
21.12.1994 |
|
|
|
|
Com. Reg. No.: |
0105537149523 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Exporter of Knitted Fabrics & Automobile Accessories. |
|
|
|
|
No. of Employees : |
1,212 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
SAHA SEIREN CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 592
MOO 11, SUKAPHIBAN
8 ROAD,
T. NONGKHAM, A. SRIRACHA,
CHONBURI 20280,
THAILAND
TELEPHONE : [66] 38
763-132-4
FAX :
[66] 38
480-366
E-MAIL
ADDRESS : training@saha-seiren.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1994
REGISTRATION
NO. : 0105537149523
TAX
ID NO. : 3011516584
CAPITAL REGISTERED : BHT. 780,000,000
CAPITAL PAID-UP : BHT.
680,000,000
SHAREHOLDER’S PROPORTION : JAPANESE :
96.22%
THAI
: 3.78%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. TOSHIYUKI OENOKI,
JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 1,212
LINES
OF BUSINESS : KNITTED FABRICS & AUTOMOBILE ACCESSORIES
MANUFACTURER, DISTRIBUTOR AND 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 December 21, 1994
as a private
limited company under the
registered name SAHA
SEIREN CO., LTD. by
Thai and Japanese groups,
with the business
objective to manufacture
various kinds of
knitted fabric for
automotive upholstery and
related industry. It currently
employs 1,212 staff.
The subject is a joint
venture among Seiren Ltd.,
Saha Pathanapibul Group, and Marubeni
Group, with holding
at 96.22%, 2.63%
and 1.15% of the
subject’s shares respectively.
The subject’s registered
address was initially
at Unit 2A, 15th Flr., Chartered Square Bldg., 152
North Sathorn Rd., Silom,
Bangrak, Bangkok 10500.
On
July 10, 2013,
its registered address
was relocated to 592
Moo 11, Sukaphiban
8 Rd., T. Nongkham, A. Sriracha,
Chonburi 20280, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Suchai Narongkananukul |
|
Thai |
69 |
|
Mr. Tatsuo Kawada |
|
Japanese |
75 |
|
Mr. Koichi Yuikawa |
|
Japanese |
67 |
|
Mr. Toshiyuki Oenoki |
|
Japanese |
51 |
|
Mr. Muneyuki Matsura |
|
Japanese |
52 |
|
Mr. Koji Tsubota |
|
Japanese |
66 |
|
Mr. Manabu Yoshida |
|
Japanese |
56 |
|
Mr. Yazunori Wada |
|
Japanese |
48 |
AUTHORIZED
PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Toshiyuki Oenoki
is the Managing
Director.
He is Japanese
nationality with the
age of 51
years old.
Mr. Surapol Sahanavin
is the Deputy
Managing Director.
He is Thai
nationality.
Mr. Masanori Sato
is the General Manager [Chonburi].
He is Japanese nationality.
Mr. Zenjiro Ikeda is
the General Manager [Prachinburi].
He is Japanese nationality.
Mr. Saravuth Thienchao is
the Plant Manager
[Chonburi].
He is Thai
nationality.
BUSINESS
OPERATIONS
The subject
is engaged in manufacturing
and distributing of
knit fabric [tricot warp
knit fabric and
circular knit fabric],
including velour and
velvet with computerized
printing system, called “VISCOTEC’S”, for automotive
upholstery and interior lining
business, as well
as manufacturing of
automobile accessories, such
as air bags,
curtain air bags
and massage seat
cover.
PURCHASE
Most of
raw materials, yarn
and components are
purchased from local
suppliers, the remaining is
imported from Japan,
Republic of China,
India, Taiwan, Germany,
Australia and U.S.A.
MAJOR
SUPPLIER
Seiren
Ltd. : Japan
SALES
The products are
sold to leading
automotive assemblers and
end-users, such as
“TOYOTA”, “HONDA”, “MITSUBISHI”,
“ISUZU”, “FORD”, “MAZDA”,
“NISSAN” and others.
80% of the
products is sold
locally, and the
remaining 20% is
exported
to Japan, U.S.A.,
Malaysia, Republic of
China, Indonesia, Vietnam
and European countries.
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
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs 1,212
office staff and
factory workers as
the followings:
Chonburi
Factory :
900 staff
Prachinburi
Factory :
300 staff
Bangkok
Office :
12 staff
LOCATION
DETAILS
The
premise is owned
for administrative office
and factory I
on 43,200 square
meters, at the heading
address. Premise is
located in provincial, in the
Eastern region.
Factory
II : 127
Moo 1, Suwannasorn
Rd., T. Nonsee, A. Kabinburi,
Prachinburi 25020.
[Premises is
on 43,200 square
meters of area.]
Tel.: [66] 37
205-459-60 Fax: [66]
37 205-470.
Bangkok
office is located
at Room 2906,
29th Floor, Empire
Tower III,
195
South Sathorn Road, Yannawa,
Sathorn, Bangkok 10120.
COMMENT
Automobile
related industries such
as cushion, interior
lining and others
has significantly grown
in line with
automotive industry expansion.
In order to respond
and satisfy the
growing need for top quality automotive
seat as well
as interior fabric.
In such movement
subject has constructed
a unique system
from planning manufacturing and sales
with technologies to
meet requirement to
all car-maker in
the market.
The
subject is able
to maintain a
strong business, despite
the country’s sluggish
economic recovery and
the chronic depression
in the global
economy.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 100,000,000 divided
into 1,000,000 shares
of Bht. 100
each with fully
paid.
The
capital was increased
later as follows:
Bht. 107,500,000
on April 2,
1999
Bht. 180,000,000
on November 5,
1999
Bht. 300,000,000
on May 25,
2000
Bht. 780,000,000
on December 21,
2000
The
latest registered capital was increased to Bht. 780 million, divided
into 7,800,000 shares of
Bht. 100 each, with
the current capital
paid-up at Bht.
680,000,000.
THE
SHAREHOLDERS LISTED WERE
[as
at March 30,
2015] at Bht.
680 million of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
Seiren Ltd. Nationality: Japanese Address : 10-1
Keya 1, Chome,
Fukui, Japan |
7,505,000 |
96.22 |
|
Textile Prestige Public
Company Limited Nationality: Thai Address : 704/1-9 Rama
3 Rd., Bangpongpang,
Yannwa, Bangkok |
100,000 |
1.28 |
|
Marubeni [Thailand] Ltd. Nationality: Thai Address : 130-132
Wireless Rd., Lumpini,
Pathumwan, Bangkok |
89,999 |
1.15 |
|
Saha Pathana Inter -Holding Public Company Limited Nationality: Thai Address : 757/10
Sathupradit Rd., Bangpongpang,
Yannawa, Bangkok |
45,000 |
0.58 |
|
I.C.C. International
Public Company Limited Nationality: Thai Address : 757/10
Sathupradit Rd., Bangpongpang,
Yannawa, Bangkok |
45,000 |
0.58 |
|
Saha Pathanapibul Public
Company Limited Nationality: Thai Address : 2156
New Petchburi Rd.,
Bangkapi, Huaykwang, Bangkok |
15,000 |
0.19 |
|
Siam Marubeni Internationl Ltd. Nationality: Thai Address : 130-132
Wireless Rd., Lumpini,
Pathumwan, Bangkok |
1 |
- |
Total Shareholders : 7
Share Structure [as
at March 30,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
295,000 |
3.78 |
|
Foreign - Japanese |
1 |
7,505,000 |
96.22 |
|
Total |
7 |
7,800,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Natee Saengudomlert No.
0300
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2014, 2013
& 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
560,931,111.83 |
579,797,191.96 |
567,965,270.51 |
|
Short-term Investment |
290,368,134.17 |
429,904,492.92 |
196,561,589.25 |
|
Trade Accounts Receivable |
562,420,040.80 |
653,208,442.06 |
682,055,186.84 |
|
Inventories |
443,557,430.93 |
395,327,444.41 |
419,417,982.58 |
|
Other Current Assets
|
92,037,709.68 |
38,723,757.77 |
12,176,895.28 |
|
|
|
|
|
|
Total Current
Assets |
1,949,314,427.41 |
2,096,961,329.12 |
1,878,176,924.46 |
|
Fixed Assets |
1,153,049,830.94 |
1,229,652,101.89 |
1,333,556,608.92 |
|
Intangible Assets |
25,717,434.09 |
25,942,991.10 |
26,998,087.17 |
|
Other Non current
Assets |
1,151,847.79 |
1,136,847.79 |
667,295.79 |
|
Total Assets
|
3,129,233,540.23 |
3,353,693,269.90 |
3,239,398,916.34 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Trade Accounts Payable |
387,982,579.32 |
528,118,056.16 |
512,394,459.46 |
|
Other Current Liabilities |
114,710,134.57 |
118,841,082.67 |
119,517,568.45 |
|
|
|
|
|
|
Total Current
Liabilities |
502,692,713.89 |
646,959,138.83 |
631,912,027.91 |
|
Estimated Liabilities |
1,199,432.00 |
1,940,792.00 |
3,112,850.00 |
|
Other Non current
Liabilities |
373,831.78 |
373,831.78 |
373,831.78 |
|
Total Liabilities |
504,265,977.67 |
649,273,762.61 |
635,398,709.69 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value Authorized &
issued share capital
7,800,000 shares |
780,000,000.00 |
780,000,000.00 |
780,000,000.00 |
|
|
|
|
|
|
Capital Paid |
680,000,000.00 |
680,000,000.00 |
680,000,000.00 |
|
Retained Earning |
|
|
|
|
Appropriated for : Statutory Reserve |
78,000,000.00 |
78,000,000.00 |
78,000,000.00 |
|
General Reserve |
1,363,000,000.00 |
1,233,000,000.00 |
1,103,000,000.00 |
|
Unappropriated |
503,967,562.56 |
713,419,507.29 |
743,000,206.65 |
|
Total Shareholders' Equity |
2,624,967,562.56 |
2,704,419,507.29 |
2,604,000,206.65 |
|
Total Liabilities
& Shareholders' Equity |
3,129,233,540.23 |
3,353,693,269.90 |
3,239,398,916.34 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
3,817,622,466.37 |
3,627,527,451.43 |
3,886,242,316.37 |
|
Other Income |
56,033,533.78 |
50,908,938.97 |
37,778,089.88 |
|
Total Revenues
|
3,873,656,000.15 |
3,678,436,390.40 |
3,924,020,406.25 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
3,296,268,800.50 |
3,150,593,938.13 |
3,199,441,145.15 |
|
Selling Expenses |
190,975,890.06 |
192,096,568.11 |
224,941,520.53 |
|
Administrative Expenses |
104,586,504.46 |
82,680,383.82 |
69,349,029.76 |
|
Total Expenses |
3,591,831,195.02 |
3,425,370,890.06 |
3,493,731,695.44 |
|
|
|
|
|
|
Profit before Financial Cost & Income Tax |
281,824,805.13 |
253,065,500.34 |
430,288,710.81 |
|
Financial Cost |
[6,708.23] |
- |
[197,020.76] |
|
|
|
|
|
|
Profit before Income Tax |
281,818,096.90 |
253,065,500.34 |
430,091,690.05 |
|
Income Tax |
[55,270,041.63] |
[50,646,199.70] |
[87,976,420.11] |
|
Net Profit / [Loss] |
226,548,055.27 |
202,419,300.64 |
342,115,269.94 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.88 |
3.24 |
2.97 |
|
QUICK RATIO |
TIMES |
2.81 |
2.57 |
2.29 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.31 |
2.95 |
2.91 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.22 |
1.08 |
1.20 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
49.12 |
45.80 |
47.85 |
|
INVENTORY TURNOVER |
TIMES |
7.43 |
7.97 |
7.63 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
53.77 |
65.73 |
64.06 |
|
RECEIVABLES TURNOVER |
TIMES |
6.79 |
5.55 |
5.70 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
42.96 |
61.18 |
58.46 |
|
CASH CONVERSION CYCLE |
DAYS |
59.93 |
50.34 |
53.45 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
86.34 |
86.85 |
82.33 |
|
SELLING & ADMINISTRATION |
% |
7.74 |
7.57 |
7.57 |
|
INTEREST |
% |
0.00 |
- |
0.01 |
|
GROSS PROFIT MARGIN |
% |
15.12 |
14.55 |
18.64 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.38 |
6.98 |
11.07 |
|
NET PROFIT MARGIN |
% |
5.93 |
5.58 |
8.80 |
|
RETURN ON EQUITY |
% |
8.63 |
7.48 |
13.14 |
|
RETURN ON ASSET |
% |
7.24 |
6.04 |
10.56 |
|
EARNING PER SHARE |
BAHT |
33.32 |
29.77 |
50.31 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.16 |
0.19 |
0.20 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.19 |
0.24 |
0.24 |
|
TIME INTEREST EARNED |
TIMES |
42,011.80 |
- |
2,183.98 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
5.24 |
(6.66) |
|
|
OPERATING PROFIT |
% |
11.36 |
(41.19) |
|
|
NET PROFIT |
% |
11.92 |
(40.83) |
|
|
FIXED ASSETS |
% |
(6.23) |
(7.79) |
|
|
TOTAL ASSETS |
% |
(6.69) |
3.53 |
|
ANNUAL
GROWTH: SATISFACTORY
An annual sales growth is 5.24%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
15.12 |
Deteriorated |
Industrial
Average |
72.63 |
|
Net Profit Margin |
5.93 |
Impressive |
Industrial
Average |
2.30 |
|
Return on Assets |
7.24 |
Impressive |
Industrial
Average |
2.67 |
|
Return on Equity |
8.63 |
Impressive |
Industrial
Average |
4.99 |
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 15.12%. 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 5.93%, 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
7.24%, 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 8.63%, 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 Downtrend
LIQUIDITY :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
3.88 |
Impressive |
Industrial
Average |
1.63 |
|
Quick Ratio |
2.81 |
|
|
|
|
Cash Conversion Cycle |
59.93 |
|
|
|
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 3.88 times in 2014, increased from 3.24 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 2.81 times in 2014,
increased from 2.57 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 60 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.16 |
Impressive |
Industrial
Average |
0.46 |
|
Debt to Equity Ratio |
0.19 |
Impressive |
Industrial
Average |
0.86 |
|
Times Interest Earned |
42,011.80 |
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 lower the percentage means that the company is using
less leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 42011.8 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 0.16 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.31 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.22 |
Impressive |
Industrial
Average |
1.16 |
|
Inventory Conversion Period |
49.12 |
|
|
|
|
Inventory Turnover |
7.43 |
Impressive |
Industrial
Average |
3.59 |
|
Receivables Conversion Period |
53.77 |
|
|
|
|
Receivables Turnover |
6.79 |
Impressive |
Industrial
Average |
4.62 |
|
Payables Conversion Period |
42.96 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.79 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 46 days at the
end of 2013 to 49 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 7.97 times in year 2013 to 7.43 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.22 times and 1.08
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.65.24 |
|
|
1 |
Rs.102.21 |
|
Euro |
1 |
Rs.72.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.