MIRA INFORM REPORT
|
Report No. : |
354985 |
|
Report Date : |
16.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOLVAY
PEROXYTHAI LIMITED |
|
|
|
|
Formerly Known As : |
PEROXYTHAI LIMITED |
|
|
|
|
Registered Office : |
16th-17th Floor, Wave Place, 55 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
29.07.1987 |
|
|
|
|
Com. Reg. No.: |
0105530037339 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Distributor of Hydrogen Peroxide. |
|
|
|
|
No. of Employees : |
300 |
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 : |
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 |
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'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
SOLVAY PEROXYTHAI LIMITED
[FORMER: PEROXYTHAI LIMITED]
SUMMARY
BUSINESS
ADDRESS : 16th-17th FLOOR,
WAVE PLACE,
55 WIRELESS
ROAD, LUMPINI,
PATHUMWAN, BANGKOK
10330, THAILAND
TELEPHONE : [66] 2610-6470
FAX :
[66] 2610-6479
E-MAIL
ADDRESS : suebsantikul.dao@solvay.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1987
REGISTRATION
NO. : 0105530037339 [Former: 3731/2530]
TAX
ID NO. : 3101490916
CAPITAL REGISTERED : BHT. 419,057,925
CAPITAL PAID-UP : BHT.
419,057,925
SHAREHOLDER’S PROPORTION : FOREIGN
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. ANUPONG RONGLUENGARAM, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 300
LINES
OF BUSINESS : HYDROGEN PEROXIDE
MANUFACTURER, EXPORTER 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 July
29, 1987 as
a private limited
company under the
registered name “Thai Peroxigen Chemicals Co., Ltd.” by
Thai-Dutch Groups, to manufacture hydrogen
peroxide for both
domestic and international
markets. On March
14, 1988 the
subject’s name was
changed to “Peroxythai Limited”,
and finally changed
to SOLVAY PEROXYTHAI
LIMITED on September
22, 2008. It
currently employs approximately
300 staff.
The subject
is a wholly
owned subsidiary of
Solvay Chemicals and
Plastics Holding
B.V., Netherlands.
The subject is a
multi-national chemical company with the headquarters in Brussels,
Belgium, and is
the largest manufacturer
of hydrogen peroxide
in Thailand.
It also achieved
the international quality
standard ISO 9001 : 2001 certification
in May 2004
and received the
promotional privilege from
the Board of
Investment.
The subject’s registered
address was initially
at 14th Flr., Green
Tower, 3656/41 Rama 4
Rd., Klongton, Klongtoey,
Bangkok 10110.
On September 22,
2008, the subject’s
registered address was
relocated to 16th-17th Flr., Wave
Place, 55 Wireless Rd.,
Lumpini, Pathumwan, Bangkok 10330, and this is the
company’s current operation address.
THE
BOARD OF DIRECTORS
Name
|
|
Nationality
|
Age
|
|
|
|
|
|
|
Mr. Michel Armand Roger
Wiernck |
|
Belgian |
55 |
|
Mr. Andrew Leonard
Cumming |
|
British |
57 |
|
Mr. Anupong Rongluengaram |
|
Thai |
46 |
|
Mr. Wei Zou |
|
Chinese |
40 |
AUTHORIZED
PERSON
Any two of
the mentioned directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Anupong Rongluengaram is
the Managing Director.
He is Thai
nationality with the
age of 46
years old.
Ms. Phenchan Kwancharoensap is
the Account & Financial Manager.
She is Thai
nationality.
Mr. Samphan Wattanasurakij is
the Domestic Sales
Manager.
He is Thai
nationality.
Ms. Vibharat Pholdej is
the Regional Sales
& Marketing Manager.
She is Thai
nationality.
Ms. Ratana Boonyathiti
is the Administration &
Personnel Manager.
She is Thai
nationality.
Mr. Tippapol Kanchananut
is the Production
Manager.
He is Thai
nationality.
Ms. Chaveewan
Wattanachaiyongsakul is the
Factory Manager.
She is Thai
nationality.
Ms. Chanadda Hanphichanchai is
the Export Sales
Department Manager.
She is Thai
nationality.
BUSINESS
OPERATIONS
The subject’s activity is a
manufacturer of Hydrogen Peroxide
and Peracetic Acid.
The products have
been served mainly
to paper, textile,
tannery, electronics, packaging
and dairy foods
processing, automobiles, agro-chemicals, animal
feed and energy
industries. The products
and brands are
as follows:
·
Hydrogen
Peroxide
Brand:
“INTEROX AG”, “INTEROX
ST”, “INTEROX CO”,
“INTEROX FG”
·
Peracetic
Acid
Brand:
“PROXITANE”, “OXYKIL”, “PROXITANE
AHC”, “AQUASAN” “OXYSTRONG”
PRODUCTION
100,000 tons per
annum
PURCHASE
80% of raw materials
is purchased from
local suppliers, and
the remaining 20%
is imported from
Belgium, Netherlands, Japan,
United Kingdom, Malaysia,
India,
Republic of China
Denmark and France.
MAJOR
SUPPLIERS
Solvay Chemicals International
S.A. : Belgium
Dow Chemical [Thailand]
Co., Ltd. : Thailand
Solvay Interox Limited : United
Kingdom
DISTRIBUTION
80% of the products
is sold locally
by wholesale to
related company and
manufacturers, and the
remaining 20% is exported
to Taiwan, Singapore,
Republic of China, Australia,
New Zealand, Korea,
Hong Kong, Vietnam,
Indonesia, Japan, India
and Malaysia.
MAJOR CUSTOMERS
L.C. Industrial Co.,
Ltd. : Thailand
Phuvasu Co., Ltd. : Thailand
PARENT
COMPANY
Solvay Chemicals and
Plastics Holding B.V.
: Netherlands
RELATED AND AFFILIATED COMPANY
MTP HP JV
[Thailand] Co., Ltd.
Business Type :
Manufacturer of Hydrogen
Peroxide
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 for 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
60-90 days.
Imports are by
L/C at sight,
T/T or open
account.
Exports are against
L/C on the
credit term of
90 days or T/T.
BUSINESS
TRANSACTION
The
subject is not found to
have problem on
its account receivable
and payable due
to the products
are purchased, and
sold to related
company in both local and overseas which
term and conditions
can be negotiable.
BANKING
Kasikornbank Public Co.,
Ltd.
[Head Office
: 1 Kasikorn
Lane, Rajburana Rd.,
Rajburana, Bangkok 10140]
[Silom Branch
: 142 Silom
Rd., Silom, Bangrak,
Bangkok 10500 ]
Deutsche Bank AG
[Bangkok Branch
: 208 Wireless
Rd., Lumpini, Pathumwan,
Bangkok 10330]
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject currently
employs approximately 300
staff. [office staff
and factory workers]
LOCATION
DETAILS
The premise is
rented for administrative office
at the heading
address. It is
located in commercial
area.
Factories :
Factory I is located
at 1 I-3A
Rd., Maptaphut Industrial
Estate, T. Maptaphut,
A. Muang, Rayong 21150,
Tel: [66] 38
683-616-20 Fax: [66]
38 683-624.
Factory II is located
at 10/3 Moo
2, T. Banchang, A. Banchang,
Rayong 21130.
COMMENT
The company has
efficiency improvements from
the production and
industrial expansion. It offers
a full range of
Hydrogen Peroxide to
meet with market
requirements. It is
the largest manufacturer
of Hydrogen Peroxide in the country
to support the
strong business growth
both in Thailand
and throughout the
region.
The success of
the company is
based on its flexibility
to adapt its
products and its
services to the
market requirements.
FINANCIAL
INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 10,000 shares of
Bht. 100
each.
The capital was
increased/decreased later as the followings:
Bht. 290,000,000 on
August 9, 1989
Bht. 433,000,000 on
November 29, 1989
Bht. 573,000,000 on
June 24, 1991
Bht. 793,000,000 on
March 5, 1993
Bht. 873,000,000 on
January 7, 1997
Bht. 838,115,850
on February 9,
2001 [Decreased]
Bht. 419,057,925
on November 24,
2004 [Decreased]
The latest registered
capital was decreased
to Bht. 419,057,925
divided into 16,762,317 shares
of Bht. 25
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
[as of April
23, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Solvay Chemicals and
Plastics Holding B.V. Nationality : Dutch Address : Netherlands |
16,762,311 |
100.00 |
|
Solvay Chimie SA. Nationality : Belgian Address : Belgium |
1 |
- |
|
Solvay Participations Belgique
SA. Nationality : Belgian Address : Belgium
|
1 |
- |
|
Solvay Chemicals International SA. Nationality : Belgian Address : Belgium |
1 |
- |
|
Solvay Chemie B.V. Nationality : Dutch Address : Netherlands |
1 |
- |
|
Solvay Participations France
SA. Nationality : French Address : France |
1 |
- |
Solvay Interox Limited Nationality : British Address : England |
1 |
- |
Total Shareholders : 7
Share Structure [as
at April 23,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
7 |
16,762,317 |
100.00 |
|
Total |
7 |
16,762,317 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUTANT
Mr. Wanlop Vilaivoravit No.
6797
BALANCE
SHEET [BAHT]
The
latest financial figures
published for December
31, 2014, 2013
& 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash in Hand
& at Bank |
90,366,461 |
416,030,914 |
318,269,182 |
|
Trade Accounts Receivable |
224,174,465 |
201,132,867 |
159,398,613 |
|
Short-term Loan to
Related Company |
- |
- |
12,000,000 |
|
Inventories |
110,493,311 |
105,913,777 |
56,097,994 |
|
Refundable Value Added Tax |
59,190,243 |
19,065,578 |
7,471,441 |
|
Other Current Assets |
4,784,613 |
5,209,952 |
3,835,522 |
|
|
|
|
|
|
Total Current Assets
|
489,009,093 |
747,353,088 |
557,072,752 |
|
Investment in Related
Company |
100 |
100 |
100 |
|
Fixed Assets |
1,339,916,634 |
768,200,915 |
792,055,400 |
|
Intangible Assets |
2,232,188 |
2,549,288 |
2,815,948 |
|
Other Non-current Assets |
2,619,621 |
2,619,621 |
4,263,580 |
|
Total Assets |
1,833,777,636 |
1,520,723,012 |
1,356,207,780 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Trade Accounts & Other Payable |
289,380,324 |
324,075,235 |
188,475,202 |
|
Short-term Estimated Liabilities |
5,387,205 |
13,978,061 |
13,059,863 |
|
Accrued Income Tax |
- |
4,039,576 |
11,004,935 |
|
Other Current Liabilities
|
18,437,151 |
14,760,209 |
10,936,472 |
|
|
|
|
|
|
Total Current Liabilities |
313,204,680 |
356,853,081 |
223,476,472 |
|
Long-term Loan from Financial Institutions |
350,000,000 |
- |
- |
|
Obligation from Employee’s Benefit
|
28,825,640 |
21,824,357 |
22,264,358 |
|
Total Liabilities |
692,030,320 |
378,677,438 |
245,740,830 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 25
par value authorized, issued
and fully paid share
capital 16,762,317 shares |
419,057,925 |
419,057,925 |
419,057,925 |
|
|
|
|
|
|
Capital Paid |
419,057,925 |
419,057,925 |
419,057,925 |
|
Retained Earning Appropriated for statutory reserve
|
21,651,821 |
21,651,821 |
21,651,821 |
|
Unappropriated |
701,037,570 |
701,335,828 |
669,757,204 |
|
Total Shareholders' Equity |
1,141,747,316 |
1,142,045,574 |
1,110,466,950 |
|
Total Liabilities &
Shareholders' Equity |
1,833,777,636 |
1,520,723,012 |
1,356,207,780 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
1,676,693,722 |
1,494,038,119 |
1,218,852,431 |
|
Services Income |
93,623,372 |
101,038,538 |
97,781,691 |
|
Gain on Exchange
Rate |
11,065,030 |
723,561 |
6,007,193 |
|
Interest Income |
3,135,800 |
5,703,759 |
6,718,254 |
|
Other Income |
22,510,810 |
26,279,486 |
27,599,952 |
|
Total Revenues |
1,807,028,734 |
1,627,783,463 |
1,356,959,521 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,339,568,064 |
1,165,416,212 |
775,545,108 |
|
Cost of Services |
89,165,116 |
96,227,179 |
93,125,420 |
|
Selling Expenses |
281,009,200 |
240,266,533 |
236,618,323 |
|
Administrative Expenses |
97,559,186 |
81,365,864 |
75,662,305 |
|
Total Expenses |
1,807,301,566 |
1,583,275,788 |
1,180,951,156 |
|
Profit/[Loss] Before Financial
Cost & |
[272,832] |
44,507,675 |
176,008,365 |
|
Financial Cost |
[25,426] |
- |
- |
|
|
|
|
|
|
Profit before Income
Tax |
[298,258] |
44,507,675 |
176,008,365 |
|
Income Tax |
- |
[12,929,051] |
[33,214,044] |
|
|
|
|
|
|
Net Profit / [Loss] |
[298,258] |
31,578,624 |
142,794,321 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.56 |
2.09 |
2.49 |
|
QUICK RATIO |
TIMES |
1.00 |
1.73 |
2.19 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.32 |
2.08 |
1.66 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.97 |
1.05 |
0.97 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
28.23 |
30.64 |
23.57 |
|
INVENTORY TURNOVER |
TIMES |
12.93 |
11.91 |
15.48 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
46.22 |
46.03 |
44.19 |
|
RECEIVABLES TURNOVER |
TIMES |
7.90 |
7.93 |
8.26 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
73.93 |
93.76 |
79.19 |
|
CASH CONVERSION CYCLE |
DAYS |
0.52 |
(17.09) |
(11.43) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
80.70 |
79.10 |
65.98 |
|
SELLING & ADMINISTRATION |
% |
21.38 |
20.16 |
23.72 |
|
INTEREST |
% |
0.00 |
- |
- |
|
GROSS PROFIT MARGIN |
% |
21.37 |
22.95 |
37.09 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(0.02) |
2.79 |
13.37 |
|
NET PROFIT MARGIN |
% |
(0.02) |
1.98 |
10.85 |
|
RETURN ON EQUITY |
% |
(0.03) |
2.77 |
12.86 |
|
RETURN ON ASSET |
% |
(0.02) |
2.08 |
10.53 |
|
EARNING PER SHARE |
BAHT |
(0.02) |
1.88 |
8.52 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.38 |
0.25 |
0.18 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.61 |
0.33 |
0.22 |
|
TIME INTEREST EARNED |
TIMES |
(10.73) |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
10.99 |
21.15 |
|
|
OPERATING PROFIT |
% |
(100.61) |
(74.71) |
|
|
NET PROFIT |
% |
(100.94) |
(77.89) |
|
|
FIXED ASSETS |
% |
74.42 |
(3.01) |
|
|
TOTAL ASSETS |
% |
20.59 |
12.13 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 10.99%. Turnover has increased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
21.37 |
Impressive |
Industrial
Average |
17.91 |
|
Net Profit Margin |
(0.02) |
Deteriorated |
Industrial
Average |
2.03 |
|
Return on Assets |
(0.02) |
Deteriorated |
Industrial
Average |
2.74 |
|
Return on Equity |
(0.03) |
Deteriorated |
Industrial
Average |
4.35 |
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 21.37%. 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 -0.02%.
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 -0.02%.
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 -0.03%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Downtrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.56 |
Satisfactory |
Industrial
Average |
1.74 |
|
Quick Ratio |
1.00 |
|
|
|
|
Cash Conversion Cycle |
0.52 |
|
|
|
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 1.56 times in 2014, decreased from 2.09 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 1 time in 2014,
decreased from 1.73 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 1 day.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.38 |
Acceptable |
Industrial Average |
0.35 |
|
Debt to Equity Ratio |
0.61 |
Impressive |
Industrial Average |
0.54 |
|
Times Interest Earned |
(10.73) |
Risky |
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 -10.74 lower than 1, so the company is not generating
enough cash from EBIT to meet its
interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.38 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 |
1.32 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.97 |
Acceptable |
Industrial
Average |
1.35 |
|
Inventory Conversion Period |
28.23 |
|
|
|
|
Inventory Turnover |
12.93 |
Impressive |
Industrial
Average |
7.93 |
|
Receivables Conversion Period |
46.22 |
|
|
|
|
Receivables Turnover |
7.90 |
Impressive |
Industrial
Average |
5.80 |
|
Payables Conversion Period |
73.93 |
|
|
|
The company's Account Receivable Ratio is calculated as 7.90 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 31 days at the
end of 2013 to 28 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 11.91 times in year 2013 to 12.93
times in year 2014.
The company's Total Asset Turnover is calculated as 0.97 times and 1.05
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.67.04 |
|
|
1 |
Rs.101.67 |
|
Euro |
1 |
Rs.73.93 |
|
Thai Baht |
1 |
Rs.1.85 |
Note :
Above are approximate rates obtained from sources believed to be correct
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.