MIRA INFORM REPORT
|
Report No. : |
338049 |
|
Report Date : |
25.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
COLOSSAL INTERNATIONAL CO., LTD. |
|
|
|
|
Registered Office : |
731/38-43 Soi Watchannai, Ratchadapisek Road, Bangpongpang, Yannawa, Bangkok 10120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
15.11.1991 |
|
|
|
|
Com. Reg. No.: |
0105534108761 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Distributor of Industrial Chemicals. |
|
|
|
|
No. of Employees : |
150 |
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 : |
Slow but correct |
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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
COLOSSAL
INTERNATIONAL CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 731/38-43 SOI
WATCHANNAI, RATCHADAPISEK ROAD,
BANGPONGPANG, YANNAWA, BANGKOK 10120,
THAILAND
TELEPHONE : [66] 2683-5823-7,
2683-5706-16
FAX :
[66] 2683-5820-2
E-MAIL
ADDRESS : cclcenter@cclcolossal.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1991
REGISTRATION
NO. : 0105534108761 [Former
: 10875/2534]
TAX
ID NO. : 3011031568
CAPITAL REGISTERED : BHT. 36,000,000
CAPITAL PAID-UP : BHT.
36,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SUCHARIT RUNGSIMUNTORAN, THAI
PRESIDENT
NO.
OF STAFF : 150
LINES
OF BUSINESS : INDUSTRIAL CHEMICALS
IMPORTER
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 November 15, 1991 as
a private limited
company under the
registered name COLOSSAL
INTERNATIONAL CO., LTD.,
by Thai groups,
with the business
objective to import
and distribute wide
range of industrial chemicals
to domestic market.
It currently employs
approximately 150 staff.
The
subject’s registered address
was initially at
69 Soi Sanchaojed,
Charoenkrung Rd., Siphya,
Bangrak, Bangkok 10500.
On October 7, 2008, the
subject’s registered address was
relocated to 731/38-43 Soi
Watchannai, Ratchadapisek Rd.,
Bangpongpang, Yannawa, Bangkok 10120,
and this
is also the
subject’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Chalach Chinthammit |
[x] |
Thai |
46 |
|
Mr. Chalee Chinthammit |
[x] |
Thai |
44 |
|
Mr. Chatri Chinthammit |
[x] |
Thai |
42 |
|
Mr. Sucharit Rungsimuntoran |
[+] |
Thai |
68 |
|
Mr. Yong Puttasantitham |
[+] |
Thai |
63 |
|
Mr. Ong-Arj Deeprasertkul |
[+] |
Thai |
63 |
|
Mr. Visith Kuakij |
|
Thai |
68 |
|
Mr. Niwat Poonpirom |
|
Thai |
67 |
|
Mr. Wudhinant Pitaksith |
[x] |
Thai |
40 |
AUTHORIZED
PERSON
One of the
above directors [x]
can jointly sign
with one of
the directors [+]
on behalf of the subject
with company’s affixed.
MANAGEMENT
Mr. Sucharit Rungsimuntoran is
the President.
He is Thai
nationality with the
age of 68
years old.
Mr. Yong Puttasantitham is
the Managing Director.
He is Thai
nationality with the
age of 63
years old.
Mr. Chalach Chinthammit is
the General Manager.
He is Thai
nationality with the
age of 46
years old.
Mr. Ong-Arj Deeprasertkul is
the Marketing & Sales Director.
He is Thai
nationality with the
age of 63
years old.
BUSINESS
OPERATIONS
The subject’s activities
are importer and
distributor various kinds of
industrial chemicals, pigments
and grinding machine,
mainly for paints,
plastics, pharmaceutical, foods
and cosmetic industries.
MAJOR
BRAND
“BYK”
IMPORT [COUNTRIES]
Most
of the products
are imported from
United Kingdom, Germany,
Australia, U.S.A., Japan, Republic
of China, Taiwan,
India, Spain, Hong
Kong, Malaysia, Indonesia,
Israel and Singapore,
the remaining is
purchased from local
suppliers.
MAJOR SUPPLIERS
BYK Chemie GmbH : Germany
Kikuchi Color &
Chemicals Corporation :
Japan
Eckart GmbH. : Germany
Mitsubishi Chemical Corporation : Japan
SALES [LOCAL]
100% of its
products is sold
locally to manufacturers
and wholesalers.
MAJOR CUSTOMERS
T.O.A. Paint [Thailand]
Co., Ltd. :
Thailand
Jotun [Thailand] Co.,
Ltd. : Thailand
Sigma Paints [Thailand]
Co., Ltd. : Thailand
I.C.I. Paints [Thailand]
Co., Ltd. :
Thailand
J.B.P. International Paint
Co., Ltd. : Thailand
Backer Acroma [Thailand]
Co., Ltd. : Thailand
Nippon Paint Co.,
Ltd. :
Thailand
Sissons Paints [Thailand]
Co., Ltd. : 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 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 on the
credits term of
30-60 days and
T/T.
BANKING
The Siam Commercial
Bank Public Co.,
Ltd.
[Head Office :
9 Ratchadapisek Rd.,
Ladyao, Jatujak, Bangkok
10900]
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 150 staff.
[office and sales
staff]
LOCATION
DETAILS
The premise is
owned for administrative office
and warehouse at the heading
address. Premise is
located in commercial/residential area.
COMMENT
In
2014 economic slowdown,
household debt and
uncertain political situation
were major factors
affecting several local
businesses with performances
not achieving targets as
anticipated. Moreover, in
2015 domestic industrial slowdown
from lower demand
and the faltering
economy of export markets
especially China would shrink
the subject’s business
growth.
FINANCIAL
INFORMATION
The capital was registered
at Bht. 10 million, divided
into 100,000 shares of
Bht. 100
each.
The capital was increased later
as follows:
Bht. 20
million on September
22, 1995
Bht. 25
million on June
9, 1997
Bht. 30
million on September
4, 1998
Bht. 36
million on September
29, 2009
The latest registered capital was increased
to Bht. 36 million, divided into
360,000 shares of
Bht. 100 each
with fully paid.
MAIN
SHAREHOLDERS
[as at
April 23, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Sucharit Rungsimuntoran Nationality: Thai Address : 626/137
Kanchanapisek Rd., Bangpai,
Bangkae,
Bangkok |
91,542 |
25.43 |
|
Mr. Chavalit Chinthammit Nationality: Thai Address : 42/2
Sukhumvit 31 Rd.,
Klongtonnua,
Wattana, Bangkok |
50,400 |
14.00 |
|
Mr. Yong Puttasantitham Nationality: Thai Address : 9/219
Moo 4, Anusawaree,
Bangkhen, Bangkok |
42,148 |
11.71 |
|
Mr. Ong-Arj Deeprasertkul Nationality: Thai Address : 3/57
Krungthep-Kreetha 9 Rd.,
Huamark,
Bangkapi, Bangkok |
40,416 |
11.23 |
|
Mrs. Nareerat Chinthammit Nationality: Thai Address : 118
Sukhumvit 63 Rd.,
Klongtonnua,
Wattana, Bangkok |
33,000 |
9.17 |
|
Mr. Chalach Chinthammit Nationality: Thai Address : 42/2
Sukhumvit 31 Rd.,
Klongtonnua,
Wattana, Bangkok |
19,750 |
5.48 |
|
Mrs. Arpa Rungsimuntoran Nationality: Thai Address : 626
Kanchanapisek Rd., Bangpai,
Bangkae, Bangkok |
15,408 |
4.28 |
|
|
|
|
|
Mr. Wudhinant Pitaksith Nationality: Thai Address : 222
Sukhumvit 49 Rd., Klongtonnua,
Wattana, Bangkok |
15,000 |
4.16 |
|
Mr. Chalee Chinthammit Nationality: Thai Address : 118/1-2
Sukhumvit 63 Rd.,
Klongtonnua,
Wattana, Bangkok |
13,550 |
3.76 |
|
Ms. Kannika Chinthammit Nationality: Thai Address : 42/2 Sukhumvit 31
Rd., Klongtonnua,
Wattana, Bangkok |
8,550 |
2.38 |
|
Mr. Chatri Chinthammit Nationality: Thai Address : 42/2 Sukhumvit 31
Rd., Klongtonnua,
Wattana, Bangkok |
8,550 |
2.38 |
|
Others |
21,686 |
6.02 |
Total Shareholders : 15
Share Structure [as
at April 23,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
15 |
360,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
15 |
360,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Bandit Sumethcherngprachya No.
0026
BALANCE
SHEET [BAHT]
The
latest financial figures
published for December 31,
2014, 2013 & 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalent |
38,615,070.24 |
47,461,125.45 |
81,998,710.69 |
|
Trade Accounts &
Other Receivable |
593,422,316.57 |
564,343,220.43 |
578,157,874.01 |
|
Inventories |
524,981,664.24 |
437,959,019.12 |
339,624,763.35 |
|
Other Current Assets |
2,816,441.71 |
- |
- |
|
|
|
|
|
|
Total Current Assets
|
1,159,835,492.76 |
1,049,763,365.00 |
999,781,348.05 |
|
Other Long-term Loan |
144,068,975.93 |
138,125,189.18 |
125,548,142.20 |
|
Fixed Assets |
182,811,629.45 |
193,997,213.21 |
113,564,437.62 |
|
Intangible Assets |
2,550,360.96 |
2,573,523.50 |
315,914.10 |
|
Other Non-current Assets |
25,051,633.56 |
26,840,771.66 |
26,232,888.72 |
|
Total Assets |
1,514,318,092.66 |
1,411,300,062.55 |
1,265,442,730.69 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term
Loan from Financial Institution |
876,953,778.05 |
732,077,669.23 |
691,964,353.97 |
|
Trade Accounts &
Other Payable |
12,932,789.43 |
18,099,809.35 |
12,902,670.26 |
|
Accrued Income Tax |
8,188,468.17 |
4,184,888.50 |
11,554,974.17 |
|
Other Current Liabilities |
4,925,365.18 |
7,402,622.69 |
7,617,726.51 |
|
|
|
|
|
|
Total Current Liabilities |
903,000,400.83 |
761,764,989.77 |
724,039,724.91 |
|
|
|
|
|
|
Long-term Loan |
414,783,815.10 |
446,872,659.06 |
350,697,711.03 |
|
Total Liabilities |
1,317,784,215.93 |
1,208,637,648.83 |
1,074,737,435.94 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized and
issued share capital
360,000 shares |
36,000,000.00 |
36,000,000.00 |
36,000,000.00 |
|
|
|
|
|
|
Capital Paid |
36,000,000.00 |
36,000,000.00 |
36,000,000.00 |
|
Statutory Reserve |
3,777,920.00 |
3,777,920.00 |
3,777,920.00 |
|
Retained Earning-
Unappropriated |
156,755,956.73 |
162,884,493.72 |
150,927,374.75 |
|
Total Shareholders' Equity |
196,533,876.73 |
202,662,413.72 |
190,705,294.75 |
|
Total Liabilities &
Shareholders' Equity |
1,514,318,092.66 |
1,411,300,062.55 |
1,265,442,730.69 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
1,776,547,326.82 |
1,723,023,165.67 |
1,801,482,724.08 |
|
Other Income |
49,726,266.31 |
46,764,850.46 |
35,100,343.68 |
|
Total Revenues |
1,826,273,593.13 |
1,769,788,016.13 |
1,836,583,067.76 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,476,982,162.64 |
1,378,888,476.55 |
1,461,198,915.15 |
|
Selling Expenses |
113,966,336.75 |
115,779,032.42 |
107,502,742.06 |
|
Administrative Expenses |
90,311,254.80 |
94,905,399.15 |
87,848,482.65 |
|
Other Expenses |
18,244,953.85 |
21,484,234.21 |
6,379,895.49 |
|
Total Expenses |
1,699,504,708.04 |
1,611,057,142.33 |
1,662,930,035.35 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost &
Income Tax |
126,768,885.09 |
158,730,873.80 |
173,653,032.41 |
|
Financial Cost |
[48,679,682.03] |
[47,398,090.26] |
[45,242,144.13] |
|
Profit / [Loss] before Income
Tax |
78,089,203.06 |
111,332,783.54 |
128,410,888.28 |
|
Income Tax |
[19,397,996.83] |
[27,404,904.40] |
[32,865,776.19] |
|
|
|
|
|
|
Net Profit / [Loss] |
58,691,206.23 |
83,927,879.14 |
95,545,112.09 |
|
Retained Earning, Beginning
of Year |
162,884,493.72 |
150,927,374.75 |
137,300,911.94 |
|
Adjustment Expenses |
[19,743.22] |
29,239.83 |
[918,649.28] |
|
Dividend Paid |
[64,800,000.00] |
[72,000,000.00] |
[81,000,000.00] |
|
Retained Earning, End
of Year |
156,755,956.73 |
162,884,493.72 |
150,927,374.75 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.28 |
1.38 |
1.38 |
|
QUICK RATIO |
TIMES |
0.70 |
0.80 |
0.91 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
9.72 |
8.88 |
15.86 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.17 |
1.22 |
1.42 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
129.74 |
115.93 |
84.84 |
|
INVENTORY TURNOVER |
TIMES |
2.81 |
3.15 |
4.30 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
121.92 |
119.55 |
117.14 |
|
RECEIVABLES TURNOVER |
TIMES |
2.99 |
3.05 |
3.12 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
3.20 |
4.79 |
3.22 |
|
CASH CONVERSION CYCLE |
DAYS |
248.46 |
230.69 |
198.75 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
83.14 |
80.03 |
81.11 |
|
SELLING & ADMINISTRATION |
% |
11.50 |
12.23 |
10.84 |
|
INTEREST |
% |
2.74 |
2.75 |
2.51 |
|
GROSS PROFIT MARGIN |
% |
19.66 |
22.69 |
20.84 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.14 |
9.21 |
9.64 |
|
NET PROFIT MARGIN |
% |
3.30 |
4.87 |
5.30 |
|
RETURN ON EQUITY |
% |
29.86 |
41.41 |
50.10 |
|
RETURN ON ASSET |
% |
3.88 |
5.95 |
7.55 |
|
EARNING PER SHARE |
BAHT |
163.03 |
233.13 |
265.40 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.87 |
0.86 |
0.85 |
|
DEBT TO EQUITY RATIO |
TIMES |
6.71 |
5.96 |
5.64 |
|
TIME INTEREST EARNED |
TIMES |
2.60 |
3.35 |
3.84 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
3.11 |
(4.36) |
|
|
OPERATING PROFIT |
% |
(20.14) |
(8.59) |
|
|
NET PROFIT |
% |
(30.07) |
(12.16) |
|
|
FIXED ASSETS |
% |
(5.77) |
70.83 |
|
|
TOTAL ASSETS |
% |
7.30 |
11.53 |
|
ANNUAL
GROWTH: ACCEPTABLE
An annual sales growth is 3.11%. Turnover has increased from THB
1,723,023,165.67 in 2013 to THB 1,776,547,326.82 in 2014. While net profit has decreased
from THB 83,927,879.14 in 2013 to THB 58,691,206.23 in 2014. And total assets
has increased from THB 1,411,300,062.55 in 2013 to THB 1,514,318,092.66 in
2014.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
19.66 |
Impressive |
Industrial
Average |
0.91 |
|
Net Profit Margin |
3.30 |
Impressive |
Industrial
Average |
2.22 |
|
Return on Assets |
3.88 |
Acceptable |
Industrial
Average |
7.20 |
|
Return on Equity |
29.86 |
Impressive |
Industrial
Average |
12.95 |
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 19.66%. 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
3.3%, 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. When compared with the
industry average, it was lower, the
company's figure is 3.88%.
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
is 29.86%, higher figure when compared
with those of its average competitors in the same industry, indicated that
business was an efficient profits 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 : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.28 |
Acceptable |
Industrial
Average |
1.76 |
|
Quick Ratio |
0.70 |
|
|
|
|
Cash Conversion Cycle |
248.46 |
|
|
|
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 1.28 times in 2014, decreased from 1.38 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 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 0.7 times in 2014,
decreased from 0.8 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 249 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.87 |
Acceptable |
Industrial
Average |
0.51 |
|
Debt to Equity Ratio |
6.71 |
Risky |
Industrial
Average |
1.05 |
|
Times Interest Earned |
2.60 |
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 2.61 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 0.87 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 Uptrend
Times Interest Earned Stable
ACTIVITY :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
9.72 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.17 |
Deteriorated |
Industrial
Average |
3.24 |
|
Inventory Conversion Period |
129.74 |
|
|
|
|
Inventory Turnover |
2.81 |
Deteriorated |
Industrial
Average |
25.28 |
|
Receivables Conversion Period |
121.92 |
|
|
|
|
Receivables Turnover |
2.99 |
Deteriorated |
Industrial
Average |
6.54 |
|
Payables Conversion Period |
3.20 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.99 and 3.05 in
2014 and 2013 respectively. This ratio measures the efficiency of the company in
managing its trade debtors to generate revenue. A lower ratio may indicate over
extension and collection problems. Conversely, a higher ratio may indicate an
overtly stringent policy. In this case, the company's A/R ratio in 2014
decreased from 2013. This would suggest the company had deteriorated in the
management of its debt collections.
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 116 days at the
end of 2013 to 130 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 3.15 times in year 2013 to 2.81 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.17 times and 1.22
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.66.51 |
|
|
1 |
Rs.104.01 |
|
Euro |
1 |
Rs.76.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.