MIRA INFORM REPORT
|
Report No. : |
353578 |
|
Report Date : |
12.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
KITO [THAILAND] CO., LTD. |
|
|
|
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Registered Office : |
197 Bangkhunthien-Chaytalay Road Samaedam, Bangkhunthienbangkok 10150 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
09.04.1992 |
|
|
|
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Com. Reg. No.: |
0105535062463 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
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Line of Business : |
Subject is engaged
in manufacturing, distributing and
exporting various kinds of shoes such as slippers, sandals, sneaker, sport shoes, kid shoes,
men & women shoes under
its own brands “KITO”, “LITTLE-K”, “MOSSONO”, “SOLDIER” and “CHIPS”. |
|
|
|
|
No. of Employee : |
450 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
No complaints |
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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 |
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'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
KITO [THAILAND] CO., LTD.
SUMMARY
BUSINESS ADDRESS : 197 BANGKHUNTHIEN-CHAYTALAY ROAD,
SAMAEDAM, BANGKHUNTHIEN,
BANGKOK
10150, THAILAND
TELEPHONE : [66] 2894-0523,
2416-1722
FAX :
[66] 2416-7380
E-MAIL ADDRESS : info@kito.co.th
export@kito.co.th
REGISTRATION ADDRESS : SAME AS
BUSINESS ADDRESS
ESTABLISHED : 1992
REGISTRATION NO. : 0105535062463
TAX ID NO. : 3011182574
CAPITAL REGISTERED : BHT. 200,000,000
CAPITAL PAID-UP : BHT. 200,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. APIWIT
KIJKAMJAI, THAI
MANAGING DIRECTOR
NO. OF STAFF : 450
LINES OF BUSINESS : SHOES
MANUFACTURER, DISTRIBUTOR
AND 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 April
9, 1992 as
a private limited
company under the
registered name KITO
[THAILAND] CO., LTD., by
Thai group, the Kijkamjai family,
with the business
objective to manufacture
and distribute various
kinds of shoes
to both domestic
and international markets. It
currently employs approximately
450 staff.
The subject’s registered
address was initially at
96-96/1 Moo 6,
Bangkhunthien-Chautalay
Road, Samaedam, Bangkhunthien, Bangkok
10150.
On August 4,
2010, the subject’s
registered address was
changed to 197
Bangkhunthien-Chautalay
Road, Samaedam, Bangkhunthien, Bangkok 10150, by
the Bangkhunthien District
Office, which actually
are the same
location, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Apiwit Kijkamjai |
|
Thai |
65 |
|
Mr. Sompong Kijkamjai |
|
Thai |
63 |
|
Mr. Surachai Kijkamjai |
|
Thai |
61 |
|
Mr. Neramit Kijkamjai |
|
Thai |
55 |
AUTHORIZED
PERSON
Any two
of the above
directors can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Apiwit Kijkamjai is the
Managing Director.
He is
Thai nationality with
the age of 65
years old.
Mr. Neramit Kijkamjai is the
Deputy Managing Director.
He is
Thai nationality with the age
of 55 years
old.
BUSINESS
OPERATIONS
The
subject is engaged
in manufacturing, distributing
and exporting various kinds
of shoes such as slippers,
sandals, sneaker, sport shoes,
kid shoes, men & women shoes
under its own brands “KITO”,
“LITTLE-K”, “MOSSONO”, “SOLDIER” and
“CHIPS”.
PURCHASE
Raw materials
such as PU & PVC
sheets, EVA, Phylon
sheet and components
are purchased from
both domestic and
overseas suppliers in
Germany, Republic of
China, Japan and
Malaysia.
SALES
[LOCAL]
70% of
the products is
sold locally both
by wholesale to
dealers nationwide, and
by retail to
end-users through the
subject’s shop at
the leading department
stores and discount
stores, such as
“The Mall”, “Central”,
“Robinson”, “Tang Hua
Seng”, “Makro”, “Tesco
Lotus”, “Big C”
and others.
EXPORT
30% of
the products is
exported to Republic
of China, India,
Vietnam, Malaysia, Korea,
Taiwan, Hong Kong,
Philippines, Myanmar, South
Africa, Brunei, Taiwan,
Laos and the
countries in Europe.
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 T/T.
Exports are
against T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
approximately 450 staff.
LOCATION
DETAILS
The premise is
owned for administrative office,
factory and warehouse
at the heading
address. Premise is
located in commercial/residential area.
Branches:
-
203 Yaowanit
Road, Samphantawong, Bangkok
10100
-
19/164 Moo
6, Ekachai Road,
Bangbon, Bangkok 10150
-
112 Moo
5, Room A16-A17, Chaengwattana
Road, Pakkred, Nonthaburi
11120
COMMENT
Unfavorable market sentiment
had led to
weak demand of
consumer goods, and
this had caused
to slow sales
of the subject’s
products in domestic
market, meanwhile sales
in overseas markets
remains strong.
Despite overall business
performance has been slowing
down, subject also
has a good
business in long
term prospect.
FINANCIAL
INFORMATION
The capital was
registered at Bht.
60,000,000 divided into
600,000 shares of
Bht. 100 each
with fully paid.
The capital was
increased later as
follows:
Bht. 140,000,000
on December 8,
1994
Bht. 200,000,000
on June 9,
2000
The latest registered
capital was increased
to Bht. 200,000,000 divided
into 2,000,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
[as at
April 30, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr.
Apiwit Kijkamjai Nationality: Thai Address :
197 Bangkhunthien-Chautalay Road,
Samaedam, Bangkhunthien, Bangkok |
350,000 |
17.50 |
|
Mr.
Sompong Kijkamjai Nationality: Thai Address :
3 Soi 94,
Rama 2 Road, Samaedam, Bangkhunthien, Bangkok
|
350,000 |
17.50 |
|
Mr.
Surachai Kijkamjai Nationality: Thai Address :
5 Soi 94,
Rama 2 Road,
Samaedam, Bangkhunthien, Bangkok
|
350,000 |
17.50 |
|
Mr.
Neramit Kijkamjai Nationality: Thai Address :
60 Soi Sawang
5, Rama 4 Road,
Mahaprutharam, Bangrak,
Bangkok |
350,000 |
17.50 |
|
Mr. Niti Kijkamjai Nationality: Thai Address :
197
Bangkhunthien-Chautalay
Road, Samaedam, Bangkhunthien, Bangkok |
200,000 |
10.00 |
|
Mrs.
Kanokporn Kijkamjai Nationality: Thai Address :
99/15 Wireless Road,
Lumpini, Pathumwan, Bangkok
|
100,000 |
5.00 |
|
Mrs.
Ratana Kijkamjai Nationality: Thai Address :
3 Soi 94,
Rama 2 Road,
Samaedam, Bangkhunthien, Bangkok
|
100,000 |
5.00 |
|
Mrs.
Sumitra Kijkamjai Nationality: Thai Address :
5 Soi 94,
Rama 2 Road,
Samaedam, Bangkhunthien, Bangkok
|
100,000 |
5.00 |
|
Mrs. Pornthip Kijkamjai Nationality: Thai Address :
60 Soi Sawang
5, Rama 4
Road, Mahaprutharam, Bangrak,
Bangkok |
100,000 |
5.00 |
Total Shareholders
: 9
Share Structure
[as at
April 30, 2015]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
9 |
2,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
9 |
2,000,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Kittimet Raveesuktanasak No.
3483
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 |
25,770,140.07 |
31,443,351.25 |
5,562,777.73 |
|
Trade Accounts
Receivable & Postdated Cheque |
215,982,498.43 |
209,321,116.11 |
207,965,689.73 |
|
Other Receivable |
183.42 |
47,092.03 |
2,923.90 |
|
Inventories-
finished |
81,747,507.08 |
72,774,234.94 |
99,609,720.27 |
|
Inventories-raw
material & products |
35,429,244.47 |
29,155,707.33 |
35,182,304.31 |
|
Inventories-work
in progress |
2,085,691.73 |
2,073,382.64 |
2,141,642.46 |
|
Value Added Tax |
352,157.52 |
407,110.63 |
377,370.59 |
|
Cash in Advance |
9,385,145.50 |
79,599.00 |
79,599.00 |
|
Income Tax Paid
in Advance |
55,075.79 |
59,119.49 |
51,426.28 |
|
Prepaid Expenses |
9,604,073.60 |
9,000,311.80 |
7,163,077.23 |
|
|
|
|
|
|
Total Current
Assets |
380,411,717.61 |
354,361,025.22 |
358,136,531.50 |
|
Fixed Assets |
551,074,109.09 |
447,709,383.98 |
309,084,389.37 |
|
Deposits |
951,637.24 |
2,990,123.59 |
595,237.24 |
|
Deferred Expenses |
2,470,903.91 |
2,785,515.67 |
3,077,892.56 |
|
Total Assets |
934,908,367.85 |
807,846,048.46 |
670,894,050.67 |
LIABILITIES
& SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft |
185,203.67 |
- |
- |
|
Postdated Chequi |
10,691,508.37 |
10,241,892.39 |
7,255,074.41 |
|
Promissory Notes |
247,500,000.00 |
197,500,000.00 |
65,000,000.00 |
|
Trade Accounts
Payable |
147,596,665.88 |
80,200,446.14 |
121,213,033.17 |
|
Accrued Expenses |
14,791,682.11 |
31,426,243.15 |
14,541,191.00 |
|
Withholding Tax |
81,253.26 |
815,986.01 |
260,207.26 |
|
Other Payable |
4,131.71 |
- |
- |
|
Other Accrued Tax
|
489,542.31 |
304,589.59 |
69,210.52 |
|
Accrued Income Tax |
3,144,383.99 |
4,301,358.62 |
5,089,769.23 |
|
Staff
Retention |
3,694,768.75 |
3,324,789.80 |
3,164,741.80 |
|
Deposit from
Customer |
5,262,011.76 |
8,348,304.62 |
17,806,026.46 |
|
|
|
|
|
|
Total Current
Liabilities |
433,441,151.81 |
336,463,610.32 |
234,399,253.85 |
|
Total Liabilities
|
433,441,151.81 |
336,463,610.32 |
234,399,253.85 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized
and issued share
capital 2,000,000 shares |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
|
|
|
|
|
Capital Paid |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
Retained
Earning Unappropriated [Deficit] |
301,467,216.04 |
271,382,438.14 |
236,494,796.82 |
|
Total
Shareholders' Equity |
501,467,216.04 |
471,382,438.14 |
436,494,796.82 |
|
Total
Liabilities & Shareholders' Equity |
934,908,367.85 |
807,846,048.46 |
670,894,050.67 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Domestic Sales
Income |
799,029,835.19 |
847,041,972.39 |
873,740,913.37 |
|
Local Sales Income |
191,769,005.38 |
204,768,615.95 |
250,810,157.07 |
|
Raw Material Sale |
1,252,086.28 |
811,883.75 |
584,922.31 |
|
Total sales |
992,050,926.85 |
1,052,622,472.09 |
1,125,135,992.75 |
|
Cost of Sale |
793,239,899.10 |
863,972,022.85 |
922,131,131.25 |
|
Gross Profit |
198,811,027.75 |
188,650,449.24 |
203,004,861.52 |
|
Selling Expenses |
37,146,032.79 |
31,792,208.68 |
55,910,831.34 |
|
Administrative Expenses |
117,061,433.40 |
115,575,313.16 |
103,552,263.55 |
|
Profit Before Other Income |
44,603,561.56 |
41,282,927.40 |
43,541,766.61 |
|
Profit/[Loss] on
Exchange Rate |
[2,909,899.79] |
4,196,884.78 |
2,418,484.22 |
|
Profit/[Loss] on
Disposal of Assets |
149,530.72 |
294,388.52 |
65,419.56 |
|
Other Income |
4,176,792.70 |
1,723,707.26 |
1,297,632.72 |
|
Profit before
Interest Paid & Income Tax |
46,019,985.19 |
47,497,907.96 |
47,323,303.11 |
|
Interest Paid |
[8,190,823.30] |
[3,688,908.02] |
[1,964,370.53] |
|
Income Tax |
[7,744,383.99] |
[8,921,358.62] |
[10,609,769.23] |
|
Net Profit / [Loss] |
30,084,777.90 |
34,887,641.32 |
34,749,163.35 |
|
Retained Earning, Beginning of Year |
271,382,438.14 |
236,494,796.82 |
201,745,633.47 |
|
|
|
|
|
|
Retained Earning,
End of Year |
301,467,216.04 |
271,382,438.14 |
236,494,796.82 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.88 |
1.05 |
1.53 |
|
QUICK RATIO |
TIMES |
0.56 |
0.72 |
0.91 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS
TURNOVER |
TIMES |
1.80 |
2.35 |
3.64 |
|
TOTAL ASSETS
TURNOVER |
TIMES |
1.06 |
1.30 |
1.68 |
|
INVENTORY
CONVERSION PERIOD |
DAYS |
54.88 |
43.94 |
54.20 |
|
INVENTORY
TURNOVER |
TIMES |
6.65 |
8.31 |
6.73 |
|
RECEIVABLES
CONVERSION PERIOD |
DAYS |
79.47 |
72.58 |
67.47 |
|
RECEIVABLES
TURNOVER |
TIMES |
4.59 |
5.03 |
5.41 |
|
PAYABLES
CONVERSION PERIOD |
DAYS |
67.91 |
33.88 |
47.98 |
|
CASH CONVERSION
CYCLE |
DAYS |
66.43 |
82.64 |
73.69 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS
SOLD |
% |
79.96 |
82.08 |
81.96 |
|
SELLING &
ADMINISTRATION |
% |
15.54 |
14.00 |
14.17 |
|
INTEREST |
% |
0.83 |
0.35 |
0.17 |
|
GROSS PROFIT
MARGIN |
% |
20.18 |
18.51 |
18.38 |
|
NET PROFIT MARGIN
BEFORE EX. ITEM |
% |
3.81 |
100.59 |
100.34 |
|
NET PROFIT MARGIN |
% |
3.03 |
3.31 |
3.09 |
|
RETURN ON EQUITY |
% |
6.00 |
7.40 |
7.96 |
|
RETURN ON ASSET |
% |
3.22 |
4.32 |
5.18 |
|
EARNING PER SHARE |
BAHT |
15.04 |
17.44 |
17.37 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.46 |
0.42 |
0.35 |
|
DEBT TO EQUITY
RATIO |
TIMES |
0.86 |
0.71 |
0.54 |
|
TIME INTEREST
EARNED |
TIMES |
4.62 |
287.03 |
574.70 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(5.75) |
(6.44) |
|
|
OPERATING PROFIT |
% |
(96.43) |
(6.21) |
|
|
NET PROFIT |
% |
(13.77) |
0.40 |
|
|
FIXED ASSETS |
% |
23.09 |
44.85 |
|
|
TOTAL ASSETS |
% |
15.73 |
20.41 |
|
ANNUAL
GROWTH : ACCEPTABLE
An annual sales
growth is -5.75%. Turnover has decreased from THB
PROFITABILITY : RISKY
PROFITABILITY RATIO
|
Gross Profit
Margin |
20.18 |
Deteriorated |
Industrial Average |
42.76 |
|
Net Profit Margin |
3.03 |
Acceptable |
Industrial Average |
4.33 |
|
Return on Assets |
3.22 |
Deteriorated |
Industrial Average |
6.60 |
|
Return on Equity |
6.00 |
Deteriorated |
Industrial Average |
37.34 |
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 20.18%. 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 3.03%. 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 3.22%.
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 6%.
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 |
0.88 |
Risky |
Industrial Average |
1.08 |
|
Quick Ratio |
0.56 |
|
|
|
|
Cash Conversion
Cycle |
66.43 |
|
|
|
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 0.88 times in 2014,
decreased from 1.05 times, then the company may have problems meeting its
short-term obligations. 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 0.56 times in 2014, decreased from 0.72
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 67 days.
Trend of the average competitors in the same
industry for last 5 years
Current Ratio Uptrend
LEVERAGE : EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.46 |
Impressive |
Industrial Average |
0.74 |
|
Debt to Equity
Ratio |
0.86 |
Impressive |
Industrial Average |
2.87 |
|
Times Interest
Earned |
4.62 |
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
4.62 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 0.46 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 : IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets
Turnover |
1.80 |
Impressive |
Industrial Average |
- |
|
Total Assets
Turnover |
1.06 |
Acceptable |
Industrial Average |
1.52 |
|
Inventory Conversion
Period |
54.88 |
|
|
|
|
Inventory
Turnover |
6.65 |
Impressive |
Industrial Average |
4.02 |
|
Receivables
Conversion Period |
79.47 |
|
|
|
|
Receivables
Turnover |
4.59 |
Impressive |
Industrial Average |
4.42 |
|
Payables Conversion
Period |
67.91 |
|
|
|
The company's
Account Receivable Ratio is calculated as 4.59 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 44 days at the end of 2013 to 55 days at the end of 2014. This
represents a negative trend. And Inventory turnover has decreased from 8.31
times in year 2013 to 6.65 times in year 2014.
The company's Total
Asset Turnover is calculated as 1.06 times and 1.3 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 Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
BHT |
1 |
Rs.1.87 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
ANK |
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.