MIRA INFORM REPORT
|
Report No. : |
352269 |
|
Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL CHEMICAL COMPANY LIMITED |
|
|
|
|
Registered Office : |
376 Moo 4,
Bangpoo Industrial Estate, Sukhumvit Road,
T. Praeksa, A. Muang,
Samutprakarn 10280 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
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Date of Incorporation : |
14.09.1978 |
|
|
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Com. Reg. No.: |
0115521000363 |
|
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|
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Legal Form : |
Private Limited Company |
|
|
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Line of Business : |
The subject is engaged in manufacturing, distributing and exporting
Zinc chemicals, e.g. Zinc Ammonium Chloride, Zinc Chloride, Zinc Oxide Active, Zinc Sulphate, Zinc Carbonate., mainly
supply to rubber,
latex, cosmetics, tires,
gloves, shoes
[insole/outsole] and pharmaceutical industries. |
|
|
|
|
No. of Employees : |
200 |
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 |
|
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 |
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, 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'etat, 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
GLOBAL CHEMICAL
COMPANY LIMITED
SUMMARY
BUSINESS ADDRESS : 376 MOO 4,
BANGPOO INDUSTRIAL ESTATE,
SUKHUMVIT ROAD,
T. PRAEKSA, A. MUANG,
SAMUTPRAKARN 10280,
THAILAND
TELEPHONE : [66] 2324-0473-5,
2324-0868
FAX : [66] 2324-0472,
2709-3969
E-MAIL ADDRESS : export@glochem.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1978
REGISTRATION NO. : 0115521000363 [Former
: SOR. POR.
68]
TAX ID NO. : 3271000069
CAPITAL REGISTERED : BHT.
76,000,000
CAPITAL PAID-UP : BHT.
76,000,000
SHAREHOLDER’S PROPORTION : THAI
: 10.75%
FOREIGN
: 89.25%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
RAYMOND LEENIP, AMERICAN
MANAGING DIRECTOR
NO. OF STAFF : 200
LINES OF BUSINESS : ZINC
CHEMICALS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
|
|
|
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 September
14, 1978 as
a private limited
company under the registered name
GLOBAL CHEMICAL COMPANY LIMITED by Thai
and foreign groups,
in order to produce
Zinc chemicals to both
domestic and international markets. It currently employs
approximately 200 staff.
The subject was
certified ISO 900 : 2000
by Moody International
[Thailand] Co., Ltd.
on July 7,
2005.
The subject’s registered
address was initially
at 525/176 Moo
1, Sukhumvit Rd.,
T. Samrongnua, A. Muang, Samutprakarn
10270.
On March 24,
1987, the subject’s
registered address was
relocated to 376
Moo 4, Bangpoo Industrial Estate,
Sukhumvit Rd., T. Praeksa,
A. Muang, Samutprakarn 10280,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
NAME |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Raymond Leenip |
[x] |
American |
68 |
|
Mrs. Florence Nip Wong |
|
Chinese |
65 |
|
Mrs. Kanokvorawan Leenip |
[x] |
Thai |
55 |
|
Mrs. Niki Nip Rabier |
|
American |
62 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Raymond Leenip
is the Managing
Director.
He is American
nationality with the
age of 68 years
old.
Mrs. Kanokvorawan Leenip
is the Deputy
Managing Director.
She is Thai
nationality with the
age of 55
years old.
Mr. Somboon Somchaikulsap is
the Export Sales
Manager.
He is Thai
nationality.
Mr. Kittisak Phujit is
the Local Sales
Manager.
He is Thai
nationality.
Ms. Pak-ampai Jiraprapakarn
is the Factory
Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in manufacturing, distributing and exporting Zinc
chemicals, e.g. Zinc Ammonium Chloride, Zinc Chloride, Zinc Oxide Active, Zinc Sulphate, Zinc Carbonate., mainly
supply to rubber,
latex, cosmetics, tires,
gloves, shoes
[insole/outsole] and pharmaceutical industries.
Company’s products are as
follows:
Zinc Chemical
1. Zinc Ammonium Chloride:
1.Double salts
2. Triple salts
3 .Triple salts with wetting agent
4. Galvanizing flux
Application field : Galvanizing
2. Zinc Chloride:
1. Granular
2. Solution
Application field : Dry cell, Water Treatment.
3. Zinc Oxide:
1. Zinc Oxide Active
2. Zinc Oxide transparent
3. Zinc Oxide RA
Application field : Rubber products, Latex, Glue.
4. Zinc Sulphate:
1.Zinc Sulphate Monohydrate
2. Zinc Sulphate Heptahydrate
Application field : Animal feed,
Fertilizers, Paper, Rayon,
Textile, Glue, Pesticide
spray, Water treatment.
5. Zinc Carbonate:
1. Zinc Carbonate Industrial grade
2. Zinc Carbonate B.P.C. grade
Application field : Cosmetic,
Pharmaceutical Products .
The products are
supplied to various
industries such as
rubber, latex, adhesive,
agro chemical, water
treatment, textile, paper,
cosmetic, pharmaceutical.
MAJOR BRAND
“GCC”
The subject has
three laboratories and
a small pilot plant in
its two manufacturing
plants for quality
control, new product
development, application research,
testing and process
improvement.
PURCHASE
80% of the
raw material mainly
base chemical and
specialty chemical are purchased from
local suppliers and
agents, the remaining
20% is imported
directly from Japan,
Republic of China,
Singapore, U.S.A., Germany,
India and Taiwan.
DISTRIBUTION
60% of the
products is exported
to France, United Kingdom,
Germany, Africa, Australia, Malaysia,
Japan, New Zealand,
Pakistan, Philippines, India,
Singapore, Spain, Turkey,
Vietnam, Korea, Hong Kong, Italy,
Sri Lanka, Indonesia, Israel,
Canada, Mexico, Bangladesh,
Myanmar and others,
the remaining 40% is
sold locally by wholesales
to end-users and
dealers all over
the country.
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
L/C at sight
or T/T.
BUSINESS TRANSACTION
In term of
sales, most of
the products are
sold by credit,
with the maximum
credit given at 30-60
days. The subject is found to have
late payment from its customers but they can negotiate.
BANKING
Bangkok Bank Public
Co., Ltd.
Head Office : 333 Silom
Rd., Silom, Bangrak,
Bangkok 10500
Samrong Branch : 1788
Sukhumvit Rd., Samrongnua,
Muang, Samutprakarn 10270
EMPLOYMENT
The subject employs
approximately 200 staff
comprising office staff,
sales staff, chemists
and engineers.
LOCATION DETAILS
The premise is
owned for administrative office
and factory I
on 4,800 square meters
of area at
the heading address.
Premise is located
in industrial area.
Factory II is
located at 545
Moo 4, Bangpoo
Industrial Estate, Sukhumvit
Rd.,
T. Praekasa, A. Muang, Samutprakarn
10280.
COMMENT
The subject grows steadily and
diversifies into industrial
phosphates via its
patented process. The products
are of high quality and more competitive. With well equipped laboratories and
strict quality control, its
products are widely accepted
by customers in the large area of industrial sectors both
domestic and international markets.
Domestic consumption of zinc chemical products in the future would continue growing at
unsaturation demand from
local industries.
The subject is
considered to have
a strong business.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 1,200,000 divided
into 1,000 shares
of Bht. 1,200
each.
The capital was
increased later as
follows:
Bht. 4,080,000
on June 4,
1982
Bht. 9,000,000
on May 4,
1989
Bht. 60,000,000
on November 22,
1995
Bht. 76,000,000
on December 25,
1997
The latest registered
capital was increased
to Bht. 76,000,000
divided into 760,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS
LISTED WERE : [as at
April 30, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Raymond Leenip Nationality: American Address : 149 Soi
Bangna-Trad 16, Bangna, Bangkok |
377,974 |
49.73 |
|
Mrs. Florence Nip
Wong Nationality: Chinese Address : 2/F,
On Kwai Bldg.,
Whampoa Estata Block C,
7 Man Tai
St Hung Hum,
Kowloon, Hong Kong |
171,604 |
22.58 |
|
Mrs. Sing Nip Nationality: Chinese Address : 2/F,
On Kwai Bldg.,
Whampoa Estata Block C,
7 Man Tai
St Hung Hum,
Kowloon, Hong Kong |
128,703 |
16.93 |
|
Mr. Lerwuth Leenip Nationality: Thai Address : 149
Soi Bangna-Trad 16, Bangna,
Bangkok |
42,902 |
5.65 |
|
Mrs. Kanokvorawan Leenip Nationality: Thai Address : 149
Soi Bangna-Trad 16,
Bangna, Bangkok |
38,000 |
5.00 |
|
Mrs. Pakampai Jiraprapakarn Nationality: Thai Address : 509 Srinakarin Rd.,
Bangkaew, Bangplee,
Samutprakarn |
816 |
0.11 |
|
Mr. Kornkris Leenip Nationality: Thai Address : 149 Soi Bangna-Trad 16, Bangna, Bangkok |
1 |
- |
Total Shareholders : 7
Share Structure [as at April
30, 2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
81,719 |
10.75 |
|
Foreign |
3 |
678,281 |
89.25 |
|
Total |
7 |
760,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Mr. Mangkorn Kanchanasai No.
3467
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 |
19,807,030.36 |
7,749,702.06 |
41,305,952.96 |
|
Short-term Investment |
27,230,305.25 |
26,370,844.64 |
26,111,444.21 |
|
Trade Accounts & Other Receivable |
69,573,950.70 |
76,488,157.25 |
63,829,187.24 |
|
Inventories |
71,775,685.91 |
88,118,611.83 |
64,605,973.06 |
|
|
|
|
|
|
Total Current Assets
|
188,386,972.22 |
198,727,315.78 |
195,852,557.47 |
|
|
|
|
|
|
Fixed Assets |
130,745,695.64 |
120,721,813.58 |
132,977,135.56 |
|
Other Non-current Assets |
251,805.24 |
342,390.24 |
173,205.24 |
|
Total Assets |
319,384,473.10 |
319,791,519.60 |
329,002,898.27 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft |
- |
1,181,710.06 |
- |
|
Trade Accounts & Other Payable |
27,645,185.51 |
29,462,198.78 |
31,658,772.86 |
|
Accrued Income Tax |
824,136.70 |
534,607.30 |
- |
|
|
|
|
|
|
Total Current Liabilities |
28,469,322.21 |
31,178,516.14 |
31,658,772.86 |
|
Total Liabilities |
28,469,322.21 |
31,178,516.14 |
31,658,772.86 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and paid share
capital 760,000 shares |
76,000,000.00 |
76,000,000.00 |
76,000,000.00 |
|
|
|
|
|
|
Capital Paid |
76,000,000.00 |
76,000,000.00 |
76,000,000.00 |
|
Premium on Share Capital |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Retained Earning - Unappropriated
|
210,915,150.89 |
208,613,003.46 |
217,344,125.41 |
|
Total Shareholders' Equity
|
290,1915,150.89 |
288,613,003.46 |
297,344,125.41 |
|
Total Liabilities &
Shareholders' Equity |
319,384,473.10 |
319,791,519.60 |
329,002,898.27 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
393,332,328.15 |
363,357,729.04 |
380,669,047.96 |
|
Other Income |
7,947,128.90 |
6,995,098.94 |
6,977,067.70 |
|
Total Revenues |
401,279,457.05 |
370,352,827.98 |
387,646,115.66 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
339,628,930.82 |
316,078,369.70 |
321,083,330.88 |
|
Selling Expenses |
3,603,170.31 |
4,177,917.13 |
4,116,743.17 |
|
Administrative Expenses |
54,225,798.65 |
48,205,537.98 |
47,475,038.96 |
|
Total Expenses |
397,457,899.78 |
368,461,824.81 |
372,675,113.01 |
|
|
|
|
|
|
Profit / Loss] before Finance
Costs & Income Tax |
3,821,557.27 |
1,891,003.17 |
14,971,002.65 |
|
Finance Costs |
[35,196.42] |
[65,283.11] |
[62,485.84] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax |
3,786,360.85 |
1,825,720.06 |
14,905,816.81 |
|
Income Tax |
[1,484,213.42] |
[556,842.01] |
[3,967,655.38] |
|
Net Profit / [Loss] |
2,302,147.43 |
1,268,878.05 |
10,940,861.43 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
6.62 |
6.37 |
6.19 |
|
QUICK RATIO |
TIMES |
4.10 |
3.55 |
4.15 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.01 |
3.01 |
2.86 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.23 |
1.14 |
1.16 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
77.14 |
101.76 |
73.44 |
|
INVENTORY TURNOVER |
TIMES |
4.73 |
3.59 |
4.97 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
64.56 |
76.83 |
61.20 |
|
RECEIVABLES TURNOVER |
TIMES |
5.65 |
4.75 |
5.96 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
29.71 |
34.02 |
35.99 |
|
CASH CONVERSION CYCLE |
DAYS |
111.99 |
144.57 |
98.66 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
86.35 |
86.99 |
84.35 |
|
SELLING & ADMINISTRATION |
% |
14.70 |
14.42 |
13.55 |
|
INTEREST |
% |
0.01 |
0.02 |
0.02 |
|
GROSS PROFIT MARGIN |
% |
15.67 |
14.94 |
17.49 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.97 |
0.52 |
3.93 |
|
NET PROFIT MARGIN |
% |
0.59 |
0.35 |
2.87 |
|
RETURN ON EQUITY |
% |
0.79 |
0.44 |
3.68 |
|
RETURN ON ASSET |
% |
0.72 |
0.40 |
3.33 |
|
EARNING PER SHARE |
BAHT |
3.03 |
1.67 |
14.40 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.09 |
0.10 |
0.10 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.10 |
0.11 |
0.11 |
|
TIME INTEREST EARNED |
TIMES |
108.58 |
28.97 |
239.59 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
8.25 |
(4.55) |
|
|
OPERATING PROFIT |
% |
102.09 |
(87.37) |
|
|
NET PROFIT |
% |
81.43 |
(88.40) |
|
|
FIXED ASSETS |
% |
8.30 |
(9.22) |
|
|
TOTAL ASSETS |
% |
(0.13) |
(2.80) |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 8.25%. Turnover has increased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
15.67 |
Deteriorated |
Industrial Average |
56.89 |
|
Net Profit Margin |
0.59 |
Deteriorated |
Industrial Average |
2.54 |
|
Return on Assets |
0.72 |
Deteriorated |
Industrial Average |
2.83 |
|
Return on Equity |
0.79 |
Deteriorated |
Industrial Average |
5.76 |
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 15.67%. 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 0.59%.
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 0.72%.
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 0.79%.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
6.62 |
Impressive |
Industrial Average |
1.36 |
|
Quick Ratio |
4.10 |
|
|
|
|
Cash Conversion Cycle |
111.99 |
|
|
|
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 6.62 times in 2014, increased from 6.37 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 4.1 times in 2014,
increased from 3.55 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 112 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.09 |
Impressive |
Industrial Average |
0.53 |
|
Debt to Equity Ratio |
0.10 |
Impressive |
Industrial Average |
1.14 |
|
Times Interest Earned |
108.58 |
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 108.58 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 0.09 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 |
3.01 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.23 |
Impressive |
Industrial Average |
1.12 |
|
Inventory Conversion Period |
77.14 |
|
|
|
|
Inventory Turnover |
4.73 |
Satisfactory |
Industrial Average |
4.91 |
|
Receivables Conversion Period |
64.56 |
|
|
|
|
Receivables Turnover |
5.65 |
Impressive |
Industrial Average |
4.05 |
|
Payables Conversion Period |
29.71 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.65 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 102 days at the
end of 2013 to 77 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 3.59 times in year 2013 to 4.73 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.23 times and 1.14
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 Downtrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.70.67 |
|
Thai Baht |
1 |
Rs1.87. |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.