MIRA INFORM REPORT
|
Report No. : |
353607 |
|
Report Date : |
12.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
BERLIN PHARMACEUTICAL INDUSTRY CO., LTD. |
|
|
|
|
Registered Office : |
359 New Road,
Pomprab, Pomprabsatrupai,
Bangkok 10100 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
07.08.1984 |
|
|
|
|
Com. Reg. No.: |
0105527028430 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is
engaged in manufacturing and
marketing medical and
pharmaceutical products in
various forms including
powder tablet, capsule,
liquid, ointment, cream
and gastrology drug
and etc., which
produced under the
standard ISO of Foods and
Drugs Organization. The
subject is a
market leader in
many of the
products, which are
prescribed for the
treatment high blood
pressure, cholesterol, gastrointestinal diseases
and diabetes. The products
are used for
the following areas: ·
Cardiovascular ·
Gastro-intestinal ·
Metabolic ·
Orthopedic ·
Others |
|
|
|
|
No. of Employees : |
500 |
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 |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company
Name
BERLIN
PHARMACEUTICALINDUSTRY CO., LTD.
SUMMARY
BUSINESS ADDRESS : 359 NEW ROAD,
POMPRAB, POMPRABSATRUPAI,
BANGKOK 10100,
THAILAND
TELEPHONE : [66] 2225-4261-3
FAX : [66] 2225-4260,
2223-1011
E-MAIL ADDRESS : marketing@berlinpharm.com
info@berlinpharma.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1984
REGISTRATION NO. : 0105527028430 [Former: 2844/2527]
TAX ID NO. : 3101309348
CAPITAL REGISTERED : BHT.
19,607,840
CAPITAL PAID-UP : BHT.
19,607,840
SHAREHOLDER’S PROPORTION : THAI
: 51.00%
FOREIGN :
49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. AMAL K.
NAJ, INDIAN
CHIEF EXECUTIVE
OFFICER
NO. OF STAFF : 500
LINES OF BUSINESS : MEDICAL AND
PHARMACEUTICAL PRODUCTS
MANUFACTURER AND
MARKETER
|
|
|
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 August
7, 1984 as
a private limited
company under the
registered name BERLIN
PHARMACEUTICAL INDUSTRY CO., LTD.
by Thai and
foreign groups, in order to manufacture and market
medical and pharmaceutical products
to both domestic and overseas markets. Its production
has been certified by the
Health Ministry of Thailand
for Good Manufacturing Practice
[GMP]. It currently
employs approximately 500
staff.
On July 12, 2002, the subject’s
name was changed
to BERLIN PHARMA [THAILAND] CO., LTD.
However, it was
finally re-named to
BERLIN PHARMACEUTICAL INDUSTRY
CO., LTD. on September
12, 2002.
The subject’s registered
address is 359
New Rd., Pomprab,
Pomprabsatrupai, Bangkok 10100, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Termchai Chainuvati |
[x] |
Thai |
75 |
|
Mr. Suebchai Chainuvati |
|
Thai |
71 |
|
Mrs. Vanida Chainuvati |
[x] |
Thai |
74 |
|
Ms. Vinda Chainuvati |
|
Thai |
49 |
|
Mrs. Lalana Setasuban |
|
Thai |
70 |
|
Ms. Choon Vatanyuta |
|
Thai |
85 |
AUTHORIZED PERSON
One of the
above directors [x]
can sign or
two of the
rest directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Amal K. Naj is
the Chief Executive
Officer.
He is Indian
nationality.
Mr. Thongchai Chaipirmsak is
the CFO and
Finance Director.
He is Thai nationality.
Ms. Vinda Chainuvati is
the Business Development
Director.
She is Thai
nationality with the
age of 49
years old.
Ms. Suwapis Teerapatsakul is
the Sales Director.
She is Thai
nationality.
Ms. Ploennet Lohakarn is
the Marketing Director.
She is Thai
nationality.
Ms. Anutra Pojnetrakorn is
the Strategic & New Product
Planning Director.
She is Thai
nationality.
Ms. Prapapan Suvankesorn
is the Human
Resources Director.
She is Thai
nationality.
Ms. Walapa Tiasuwan
is the Regulatory
Affairs Associate Director
She is Thai
nationality.
Ms. Khunnawut
Chaivongsapaiboon is the
Manufacturing & Planning
Director.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and marketing medical
and pharmaceutical products
in various forms
including powder tablet,
capsule, liquid, ointment,
cream and gastrology
drug and etc.,
which produced under
the standard ISO of Foods
and Drugs Organization.
The subject is a market
leader in many
of the products,
which are prescribed
for the treatment
high blood pressure,
cholesterol,
gastrointestinal diseases and
diabetes. The products
are used for
the following areas:
Cardiovascular
Gastro-intestinal
Metabolic
Orthopedic
Others
PURCHASE
Raw materials are purchased
from suppliers and
agents both local
and overseas countries such as Germany, United States of America, Switzerland, Canada, United
Kingdom, France, Japan, India
and Republic of
China.
MAJOR SUPPLIERS
BASF [Thai] Ltd. : Thailand
Acino Pharma AG. : Switzerland
Intas Pharmaceuticals Ltd. : India
Apotex Inc. : Canada
Ethypharm GmbH. : Germany
SALES
60% of the products are sold
locally by wholesale to dealers
and end-users both government and
private sector nationwide.
EXPORT
40% of the products are exported to Singapore, India, Laos, Myanmar, Vietnam,
Indonesia, Hong Kong, Philippines,
Malaysia, Korea, Republic
of China, Taiwan,
South Africa and
Sri Lanka.
SUBSIDIARY AND AFFILIATED
COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject according
to the past
two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are paid by
cash or on
the credits term
of 30-60 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BUSINESS TRANSACTION
The products are
sold both by
cash and credit
with the maximum
credit given at
30-60 days. There
is no problem
on its account
receivable.
BANKING
Kasikornbank Public Co., Ltd.
[Head Office : 1 Kasikorn Lane,
Rajburana Rd., Rajburana, Bangkok 10140]
Bangkok Bank Public
Co., Ltd.
[Head Office :
333 Silom Rd., Silom,
Bangrak, Bangkok 10500]
Krung Thai Bank
Public Co., Ltd.
[Head Office : 35 Sukhumvit
Rd., Klongtoeynua, Wattana,
Bangkok 10110]
EMPLOYMENT
The subject employs
approximately 500 staff
[office staff and
factory workers].
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in commercial
area.
Factory & warehouse
were initially located
at 374 Romklao Rd.,
Klongsampraves, Ladkrabang, Bangkok 10520 Tel : [66]
2360-8729.
Recently the factory &
warehouse’s address number has
been changed to 222
Moo 5, Romklao Rd., Klongsampraves,
Ladkrabang, Bangkok 10520, Tel:
[66] 2737-6717 Fax : [66] 2360-8729.
[Only the address
number has been
changed, but they
are the same
location.]
Branch/Sales office is
located at 1575
Chai-sanguan Building, New
Petchburi Road, Makkasan,
Rajthewi, Bangkok 10400.
COMMENT
Since the subject has been established in Thailand for 31
years, its products have been well accepted
from both local
and international markets
with steady growth each year. The company’s productions
are properly run by expertise with an outstanding performance.
The subject has
strong capability in
producing high quality
pharmaceuticals, which are
prescribed for the
treatment high blood
pressure, cholesterol, gastrointestinal diseases,
and diabetes to
both domestic and
overseas markets.
FINANCIAL INFORMATION
The capital was
initially registered at Bht. 1,000,000 divided
into 100,000 shares of Bht.
10 each.
The capital was
increased later as
following:
Bht. 5,000,000
on October 25,
1985
Bht. 10,000,000
on October 31,
1989
Bht 19,607,840
on December 29,
2008
The latest registered
capital was increased
to Bht. 19,607,840 divided into
1,960,784 shares of
Bht. 10 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE : [as at
April 29, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Green Stem Limited Nationality: Hong Kong Address : 41st Flr., Bank
of China Tower, 1 Garden
Rd., Central, Hong Kong |
910,785 |
46.45 |
|
Ms. Vinda Chainuvati Nationality: Thai Address : 458/1-3
Rama 1 Rd., Pathumwan,
Bangkok 10330 |
180,000 |
9.18 |
|
Mr. Atisith Chainuvati Nationality: Thai Address : 8/2
Sukhumvit 49 Rd., Prakanong, Bangkok
10110 |
100,000 |
5.10 |
|
Mr. Suebchai Chainuvati Nationality: Thai Address : 18
Sukhumvit 35 Rd.,
Klongton,
Prakanong, Bangkok |
100,000 |
5.10 |
|
Mr. Termchai Chainuvati Nationality: Thai Address : 458/1-3
Rama 1 Rd., Pathumwan,
Bangkok 10330 |
100,000 |
5.10 |
|
Mrs. Vanida Chainuvati Nationality: Thai Address : 458/1-3
Rama 1 Rd., Pathumwan,
Bangkok 10330 |
99,999 |
5.10 |
|
Mr. Nattachai Chainuvati Nationality: Thai Address : 8/2
Sukhumvit 49 Rd., Prakanong, Bangkok
10110 |
80,000 |
4.08 |
|
Ms. Maneechai Chainuvati Nationality: Thai Address : 8/2
Sukhumvit 49 Rd., Prakanong, Bangkok 10110 |
80,000 |
4.08 |
|
Ms. Siwaporn Chainuvati Nationality: Thai Address : 458/1-3
Rama 1 Rd., Pathumwan, Bangkok
10330 |
80,000 |
4.08 |
|
Mr. Ekachai Chainuvati Nationality: Thai Address :
458/1-3 Rama 1 Rd.,
Pathumwan, Bangkok
10330 |
80,000 |
4.08 |
|
Mrs. Thiprat Chainuvati Nationality: Thai Address : 18 Sukhumvit 35 Rd.,
Klongton,
Prakanong, Bangkok |
80,000 |
4.08 |
|
Mr. Amal K. Naj Nationality: Indian Address : 101
Soi Yen-akart 3, Yen-akart
Rd.,
Chongnonsee, Yannawa, Bangkok |
50,000 |
2.55 |
|
Ms. Lalana Setasuban Nationality: Thai Address : 56/3
Moo 2, Klongchan,
Bangkapi, Bangkok |
10,000 |
0.51 |
|
Ms. Choon Vatanyuta Nationality: Thai Address : 1764/1
Rama 6 Rd., Rongmuang,
Pathuman, Bangkok |
10,000 |
0.51 |
Total Shareholders : 14
Share Structure
[as at April
29, 2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
12 |
999,999 |
51.00 |
|
Foreign |
2 |
960,785 |
49.00 |
|
Total |
14 |
1,960,784 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Mr. Kasem Turakrisana No. 5643
BALANCE SHEET
[BAHT]
The latest financial figures published
as at December
31, 2014, 2013
& 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
377,265,170.22 |
300,940,293.96 |
227,476,412.86 |
|
Short-term Lending |
326,593,579.73 |
276,542,410.26 |
233,736,821.41 |
|
Trade Accounts Other Receivable |
766,807,771.61 |
718,879,078.62 |
625,828,558.24 |
|
Inventories |
271,751,045.92 |
294,166,282.86 |
281,324,060.46 |
|
Other Current Assets
|
68,562,410.61 |
57,473,602.16 |
102,094,544.73 |
|
|
|
|
|
|
Total Current Assets
|
1,810,979,978.09 |
1,648,001,667.86 |
1,470,460,397.70 |
|
Long-term Lending to
Related Person |
44,775,317.19 |
46,551,058.78 |
51,294,358.35 |
|
Investment in Related Company |
3,490,024.00 |
3,490,024.00 |
3,490,024.00 |
|
Long-term Investment |
18,082,900.00 |
18,082,900.00 |
18,082,900.00 |
|
Fixed Assets |
805,397,055.56 |
608,952,733.78 |
481,658,724.68 |
|
Intangible Assets |
189,995,069.31 |
157,372,427.54 |
105,535,048.34 |
|
Other Non-current Assets |
2,882,860.00 |
3,083,285.00 |
31,153,373.80 |
|
Total Assets |
2,875,603,204.15 |
2,485,534,096.96 |
2,161,674,826.87 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Trade Accounts Payable
|
197,167,738.66 |
192,199,735.67 |
157,382,621.38 |
|
Short-term Loan from Person or Related Company |
- |
- |
5,370,550.66 |
|
Other Current Liabilities |
349,193,278.26 |
330,208,041.45 |
321,518,221.77 |
|
|
|
|
|
|
Total Current Liabilities |
546,361,016.92 |
522,407,777.12 |
484,271,393.81 |
|
Hire-purchase Payable |
7,172,831.00 |
6,062,515.00 |
11,975,486.00 |
|
Employee Benefits Obligation |
103,156,080.81 |
103,831,923.42 |
94,101,003.00 |
|
Total Liabilities |
656,689,928.73 |
632,302,215.54 |
590,347,882.81 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized and
issued paid share capital
1,960,784 shares |
19,607,840.00 |
19,607,840.00 |
19,607,840.00 |
|
|
|
|
|
|
Capital Paid |
19,607,840.00 |
19,607,840.00 |
19,607,840.00 |
|
Retained Earnings Appropriated for statutory reserve |
2,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
Unappropriated |
2,197,305,435.42 |
1,831,624,041.42 |
1,549,719,104.06 |
|
Total Shareholders' Equity |
2,218,913,275.42 |
1,853,231,881.42 |
1,571,326,944.06 |
|
Total Liabilities &
Shareholders' Equity |
2,875,603,204.15 |
2,485,534,096.96 |
2,161,674,826.87 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
2,633,971,192.62 |
2,339,198,985.81 |
2,132,725,741.90 |
|
Gain on Disposal of
Assets |
42,055.07 |
1,016,997.94 |
699,355.36 |
|
Gain on Exchange Rate |
- |
- |
6,087,737.40 |
|
Gain on Investment |
9,916,245.22 |
2,700,502.83 |
9,086,838.31 |
|
Other Income |
8,100,725.49 |
7,351,081.32 |
7,208,014.98 |
|
Total Revenues |
2,652,030,218.40 |
2,350,267,567.90 |
2,155,807,687.95 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,353,728,081.50 |
1,147,887,521.15 |
1,039,325,605.11 |
|
Selling Expenses |
473,743,102.85 |
487,618,880.61 |
445,938,458.27 |
|
Administrative Expenses |
282,704,816.11 |
282,973,264.44 |
258,708,482.97 |
|
Loss on Exchange Rate |
1,013,479.14 |
8,003,919.33 |
- |
|
Total Expenses |
2,111,189,479.60 |
1,926,483,585.53 |
1,743,972,546.35 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost & Income
Tax |
540,840,738.80 |
423,783,982.37 |
411,835,141.60 |
|
Financial Costs |
[258,468.90] |
[394,002.49] |
[717,206.65] |
|
Profit / [Loss] before Income
Tax |
540,582,269.90 |
423,389,979.88 |
411,117,934.95 |
|
Income Tax |
[47,449,915.90] |
[33,641,922.52] |
[55,318,256.73] |
|
|
|
|
|
|
Net Profit / [Loss] |
493,132,354.00 |
389,748,057.36 |
355,799,678.22 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.31 |
3.15 |
3.04 |
|
QUICK RATIO |
TIMES |
2.69 |
2.48 |
2.24 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.27 |
3.84 |
4.43 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.92 |
0.94 |
0.99 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
73.27 |
93.54 |
98.80 |
|
INVENTORY TURNOVER |
TIMES |
4.98 |
3.90 |
3.69 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
106.26 |
112.17 |
107.11 |
|
RECEIVABLES TURNOVER |
TIMES |
3.43 |
3.25 |
3.41 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
53.16 |
61.11 |
55.27 |
|
CASH CONVERSION CYCLE |
DAYS |
126.37 |
144.59 |
150.63 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
51.39 |
49.07 |
48.73 |
|
SELLING & ADMINISTRATION |
% |
28.72 |
32.94 |
33.04 |
|
INTEREST |
% |
0.01 |
0.02 |
0.03 |
|
GROSS PROFIT MARGIN |
% |
49.29 |
51.40 |
52.35 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
20.53 |
18.12 |
19.31 |
|
NET PROFIT MARGIN |
% |
18.72 |
16.66 |
16.68 |
|
RETURN ON EQUITY |
% |
22.22 |
21.03 |
22.64 |
|
RETURN ON ASSET |
% |
17.15 |
15.68 |
16.46 |
|
EARNING PER SHARE |
BAHT |
251.50 |
198.77 |
181.46 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.23 |
0.25 |
0.27 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.30 |
0.34 |
0.38 |
|
TIME INTEREST EARNED |
TIMES |
2,092.48 |
1,075.59 |
574.22 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
12.60 |
9.68 |
|
|
OPERATING PROFIT |
% |
27.62 |
2.90 |
|
|
NET PROFIT |
% |
26.53 |
9.54 |
|
|
FIXED ASSETS |
% |
32.26 |
26.43 |
|
|
TOTAL ASSETS |
% |
15.69 |
14.98 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 12.6%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
49.29 |
Impressive |
Industrial Average |
9.88 |
|
Net Profit Margin |
18.72 |
Impressive |
Industrial Average |
2.82 |
|
Return on Assets |
17.15 |
Impressive |
Industrial Average |
10.26 |
|
Return on Equity |
22.22 |
Satisfactory |
Industrial Average |
27.05 |
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 49.29%. 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 18.72%, 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
17.15%, 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.
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 22.22%.
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 |
3.31 |
Impressive |
Industrial Average |
1.37 |
|
Quick Ratio |
2.69 |
|
|
|
|
Cash Conversion Cycle |
126.37 |
|
|
|
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 3.31 times in 2014, increased from 3.15 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 2.69 times in 2014,
increased from 2.48 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 127 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.23 |
Impressive |
Industrial Average |
0.64 |
|
Debt to Equity Ratio |
0.30 |
Impressive |
Industrial Average |
1.77 |
|
Times Interest Earned |
2,092.48 |
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 2092.48 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 0.23 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.27 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.92 |
Deteriorated |
Industrial Average |
3.64 |
|
Inventory Conversion Period |
73.27 |
|
|
|
|
Inventory Turnover |
4.98 |
Deteriorated |
Industrial Average |
13.17 |
|
Receivables Conversion Period |
106.26 |
|
|
|
|
Receivables Turnover |
3.43 |
Impressive |
Industrial Average |
3.31 |
|
Payables Conversion Period |
53.16 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.43 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 94 days at the
end of 2013 to 73 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 3.9 times in year 2013 to 4.98 times
in year 2014.
The company's Total Asset Turnover is calculated as 0.92 times and 0.94
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.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
Thai Baht |
1 |
Rs.1.87 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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.