MIRA INFORM REPORT
|
Report No. : |
355111 |
|
Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
PHOTONICS SCIENCE CO., LTD. |
|
|
|
|
Registered Office : |
9/10 Chaokhun Taharn Road, Klongsamprawes, Ladkrabang, Bangkok 10520 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
11.03.2003 |
|
|
|
|
Com. Reg. No.: |
0105546030428 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Distributor
and Service
of Laser
Machines and Related Equipment. |
|
|
|
|
No. of Employees : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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
PHOTONICS SCIENCE
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 9/10
CHAOKHUN TAHARN ROAD,
KLONGSAMPRAWES, LADKRABANG,
BANGKOK 10520,
THAILAND
TELEPHONE : [66] 2172 -8577-8,
081 931-2279, 081
623-3224
FAX :
[66] 2172-8579
E-MAIL
ADDRESS : sales@photonics-science.com
service@photonics-science.com
laser@photonics-science.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2003
REGISTRATION
NO. : 0105546030428
TAX
ID NO. : 3030868015
CAPITAL REGISTERED : BHT. 30,000,000
CAPITAL PAID-UP : BHT.
30,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. KHAMNUNG
WISARNSAOWAPARK, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 60
LINES
OF BUSINESS : LASER MACHINES AND
RELATED EQUIPMENT
IMPORTER,
DISTRIBUTOR AND SERVICE
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 March 11,
2003 as a
private limited company
under the registered
name PHOTONICS SCIENCE CO., LTD.,
by Thai
groups, with the business
objective to import
and distribute laser machines and related equipment for various industries.
It currently employs
approximately 60 staff.
The
subject’s registered address
was initially at
107/13 Romklao Rd.,
Minburi, Bangkok 10510.
On September 15, 2008, the subject’s
registered address was
relocated to 9/10 Chaokhun Taharn
Rd., Klongsamprawes, Ladkrabang,
Bangkok 10520, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Khamnung Wisarnsaowapark |
|
Thai |
49 |
|
Mr. Surin Chaowalit |
|
Thai |
44 |
AUTHORIZED
PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Khamnung Wisarnsaowapark is
the Managing Director.
He is Thai
nationality with the
age of 49
years old.
Mr. Chaipol Mahamongkolsawad is
the Marketing Director.
He is Thai
nationality.
BUSINESS
OPERATIONS
The subject
is engaged in importing,
distributing and exporting
wide range of
laser machines and
related equipments as the followings:
1. Laser
-
Fiber lasers, Cw
Nd : YAG
lasers, Pulsed Nd : YAG
lasers, Q-switched lasers,
gas
lasers, laser marking,
laser cutting/engraving, laser
welding machine,
jewelry/dental laboratory
laser system
2. Scanner &
spare parts
- Galvanometer scanner,
2D scan system,
3D scan system,
dynamic focusing units
vario scan and
control boards.
3. Laser optics
and spare parts
- Achromatic lasers,
focusing lens and
scanning mirror
4. Software
for optical system
design, under the
name “ZEMAX”
5. Spare
parts
-
Filters, flash lamps,
diode modules, cleaning
kits, energy meters,
safety glasses
and
etc.
The subject also
provides design, installation and maintenance
service for robot
cut, robot cut
plast, optic mark,
laser welding, laser
cutting system, laser
engraving system, marking
and engraving laser.
Its products are
mainly supplied to
automobiles, jewelry, electronics,
foods, pharmaceuticals and
metal works industries.
MAJOR BRANDS
“I WELD”, “MARK”,
“METALEX”, “ROYJET”, “BRIGHTSTAR”,
“I MARK”,
“ZEMAX” and
etc.
IMPORT
Most
of the products
are imported from
U.S.A., Germany, Taiwan,
Singapore and Japan.
MAJOR SUPPLIERS
Wavelab
Scientific Pte. Ltd. : Singapore
GSI
Group : U.S.A.
Laser Star
Technolgies Corporation : U.S.A.
Scanlab
AG. : Germany
Robot
Technology GmbH. : Germany
Radiant
Zemax Inc. :
U.S.A.
Reis
GmbH. : Germany
IPG
Laser GmbH. : Germany
IPG
Photonics Corporation : Singapore
SALES
Most of the
products are sold
and serviced locally
to manufacturers, dealers
and
end-users, the remaining
is exported to
Myanmar and Vietnam.
RELATED AND AFFILIATED COMPANY
P.T.G. Precision Co.,
Ltd.
Advanced Mechatronics &
Automation Co., Ltd.
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no legal suits
filed against the
subject according the
past two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by L/C at
sight or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Ladkrabang Industrial
Estate Branch, Chalongkrung
Rd., Ladkrabang, Bangkok]
EMPLOYMENT
The
subject employs approximately
60 staff.
LOCATION
DETAILS
The
premise is owned for administrative office
and showroom at
the heading address.
Premise is located
in commercial/residential area.
Branches:
Bangrak
Branch : Unit
603, 6th Flr.,
Sirikorn Bldg., 116 Mahaseth Rd.,
Siphraya.
Bangrak, Bangkok 10500.
Tel. [66] 2631-8828-9,
Fax. [66] 2681-8830.
Bangkapi
Branch : Unit
0219-0220, B1st Flr.,
Pantip Plaza Bldg.,
3191-3191/1
Ladprao
Rd., Klongchan, Bangkapi,
Bangkok 10230.
Tel.
[66] 2187-3135, Fax. [66]
2187-3136.
Chiangmai
Branch : 411/24
E8, Star Avenue
Bldg., Mahidon Rd.,
T. Thasala,
A.
Muang,
Chiangmai 50000.
Tel. [66]
53 245-931-2, Fax. [66] 53
245-933.
COMMENT
Laser
has been increased
its performance in
most industries from
beauty and medical
to heavy industry. With various
types of laser has
turned to modern
technology for people’s
lifestyle. Laser for industrial
used has been
in market for
many years with
gradually improved of its
scope of works. Besides the
leading company in
providing industrial laser machine, subject also has
the skill, knowledge
and expertise to support
its customers in
laser processing.
Subject had an outstanding business
in the previous
years, while its
business in 2015
would have slow
growth from delay
expansion and new
investment by various
industries.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 1,000,000 divided into 10,000 shares of
Bht. 100 each.
The
capital was increased
later as follows:
Bht. 3,000,000
on October 28,
2004
Bht. 15,000,000
on November 7,
2012
Bht. 30,000,000
on September 23,
2015
The
latest registered capital
was increased to Bht. 30,000,000 divided
into 300,000 shares
of Bht. 100
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
[as
at September 23,
2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Khamnung Wisarnsaowapark Nationality: Thai Address : 32/54
Moo 1, Klongluang,
Pathumthani |
60,000 |
20.00 |
|
Mr. Surin Chaowalit Nationality: Thai Address : 94/498
Moo 4, Lampakchee,
Nongjok, Bangkok |
60,000 |
20.00 |
|
Mr. Chaipol Mahamongkolsawad Nationality: Thai Address : 422/57 Soi
Suwinthawong 34, Sansaeb, Minburi,
Bangkok |
60,000 |
20.00 |
|
Mrs. Poonsuk Wannasuphoprasit Nationality: Thai Address : 694/17
Soi Phyanark, Thanon
Petchburi,
Ratchathewee, Bangkok |
60,000 |
20.00 |
|
Mr. Wuthichai Sangkasap Nationality: Thai Address : 404
Moo 13, T. Wadsai,
A. Muang, Nakornsawan |
60,000 |
20.00 |
Total Shareholders : 5
Share
Structure
[as at September
23, 2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
300,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
5 |
300,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mrs. Patchara
Charoonwuthatham No. 5581
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 |
11,368,995.63 |
10,574,806.46 |
6,426,113.00 |
|
Trade Accounts & Other Receivable Trade Accounts
Receivable |
17,393,343.34 |
8,177,725.12 |
8,018,981.88 |
|
Other Receivable |
891,490.74 |
1,099,646.69 |
845,961.50 |
|
Inventories |
36,365,981.05 |
19,598,286.58 |
18,755,227.09 |
|
|
|
|
|
|
Total Current Assets
|
66,019,810.76 |
39,450,464.85 |
34,046,283.47 |
|
Fixed Assets |
38,224,356.91 |
42,292,734.07 |
44,635,608.47 |
|
Other Non-current Assets |
1,080,061.31 |
971,768.00 |
949,222.00 |
|
Total Assets |
105,324,228.98 |
82,714,966.92 |
79,631,113.94 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft |
14,673,583.35 |
14,174,647.39 |
12,943,924.08 |
|
Trade Accounts
& Other Payable Trade
Accounts Payable |
12,680,526.95 |
7,713,665.35 |
5,048,620.03 |
|
Other Payable |
7,786,128.12 |
11,772,201.98 |
6,955,897.22 |
|
Short-term Loan from Financial Institution |
10,380,164.35 |
- |
- |
|
Current Portion of Hire-purchase
Contract Payable |
285,523.93 |
360,042.04 |
92,265.88 |
|
Current Portion of Long-term Loan from Financial Institutions |
1,433,766.86 |
4,448,025.01 |
5,577,777.73 |
|
Short-term Loan from
Related Person |
16,950,000.00 |
17,950,000.00 |
18,950,000.00 |
|
Accrued Income Tax |
2,885,869.80 |
- |
333,141.85 |
|
|
|
|
|
|
Total Current Liabilities |
67,075,563.96 |
56,418,581.77 |
49,901,626.79 |
|
Long-term Hire-purchase Contract
Payable -
Net |
316,900.16 |
602,424.10 |
104,940.30 |
|
Long-term Loan from Financial Institutions |
42,305.17 |
1,481,528.98 |
5,999,626.12 |
|
Estimated Liabilities from
Employee Benefits after
Retirement |
1,036,661.00 |
820,263.00 |
820,263.00 |
|
Total Liabilities |
68,471,430.29 |
59,322,797.85 |
56,826,456.21 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid-up share
capital 150,000 shares |
15,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
|
|
|
|
|
Capital Paid |
15,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
Retained Earning -
Unappropriated |
21,852,798.69 |
8,392,169.07 |
7,804,657.73 |
|
Total Shareholders' Equity |
36,852,798.69 |
23,392,169.07 |
22,804,657.73 |
|
Total Liabilities &
Shareholders' Equity |
105,324,228.98 |
82,714,966.92 |
79,631,113.94 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales |
149,054,344.71 |
77,884,974.47 |
117,746,623.93 |
|
Service Income |
12,452,633.83 |
10,990,509.35 |
13,620,965.56 |
|
Other Income Gain on Exchange
Rate |
31,613.90 |
- |
125,644.40 |
|
Gain on
Sale of Assets |
- |
- |
391,947.76 |
|
Others |
787,807.12 |
519,640.27 |
882,360.96 |
|
Total Revenues |
162,326,399.56 |
89,395,124.09 |
132,767,542.61 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
102,234,666.82 |
59,966,503.47 |
89,455,551.25 |
|
Selling Expenses |
8,809,526.43 |
2,599,730.84 |
4,345,041.73 |
|
Administrative Expenses |
33,534,695.89 |
24,238,802.45 |
27,142,043.58 |
|
Other Expenses -
Loss on Exchange Rate |
- |
336,807.86 |
- |
|
Total Expenses |
144,578,889.14 |
87,141,844.62 |
120,942,636.56 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost & Income Tax |
17,747,510.42 |
2,253,279.47 |
11,824,906.05 |
|
Financial Cost |
[709,268.92] |
[1,290,397.72] |
[3,434,861.80] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
17,038,241.50 |
962,881.75 |
8,390,044.25 |
|
Income Tax |
[3,577,611.88] |
[375,370.41] |
[949,642.25] |
|
Net Profit / [Loss] |
13,460,629.62 |
587,511.34 |
7,440,402.00 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.98 |
0.70 |
0.68 |
|
QUICK RATIO |
TIMES |
0.44 |
0.35 |
0.31 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.23 |
2.10 |
2.94 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.53 |
1.07 |
1.65 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
129.83 |
119.29 |
76.53 |
|
INVENTORY TURNOVER |
TIMES |
2.81 |
3.06 |
4.77 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
39.31 |
33.58 |
22.28 |
|
RECEIVABLES TURNOVER |
TIMES |
9.29 |
10.87 |
16.38 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
45.27 |
46.95 |
20.60 |
|
CASH CONVERSION CYCLE |
DAYS |
123.87 |
105.92 |
78.21 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
63.30 |
67.47 |
68.10 |
|
SELLING & ADMINISTRATION |
% |
26.22 |
30.20 |
23.97 |
|
INTEREST |
% |
0.44 |
1.45 |
2.61 |
|
GROSS PROFIT MARGIN |
% |
37.21 |
33.11 |
32.97 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
10.99 |
2.54 |
9.00 |
|
NET PROFIT MARGIN |
% |
8.33 |
0.66 |
5.66 |
|
RETURN ON EQUITY |
% |
36.53 |
2.51 |
32.63 |
|
RETURN ON ASSET |
% |
12.78 |
0.71 |
9.34 |
|
EARNING PER SHARE |
BAHT |
89.74 |
3.92 |
49.60 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.65 |
0.72 |
0.71 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.86 |
2.54 |
2.49 |
|
TIME INTEREST EARNED |
TIMES |
25.02 |
1.75 |
3.44 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
81.72 |
(32.35) |
|
|
OPERATING PROFIT |
% |
687.63 |
(80.94) |
|
|
NET PROFIT |
% |
2,191.13 |
(92.10) |
|
|
FIXED ASSETS |
% |
(9.62) |
(5.25) |
|
|
TOTAL ASSETS |
% |
27.33 |
3.87 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 81.72%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
37.21 |
Satisfactory |
Industrial
Average |
41.60 |
|
Net Profit Margin |
8.33 |
Impressive |
Industrial
Average |
5.75 |
|
Return on Assets |
12.78 |
Satisfactory |
Industrial
Average |
14.22 |
|
Return on Equity |
36.53 |
Impressive |
Industrial
Average |
25.71 |
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 37.21%. 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 8.33%, higher figure when compared with those
of its average competitors in the same industry, indicated that business was an
efficient operator in a dominant
position within its industry.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. When compared with the
industry average, it was lower, the
company's figure is 12.78%.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. Return on Equity ratio
is 36.53%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit
in a dominant position within its industry.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.98 |
Risky |
Industrial
Average |
2.46 |
|
Quick Ratio |
0.44 |
|
|
|
|
Cash Conversion Cycle |
123.87 |
|
|
|
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 0.98 times in 2014, increased from 0.7 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 0.44 times in 2014,
increased from 0.35 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 124 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.65 |
Acceptable |
Industrial
Average |
0.42 |
|
Debt to Equity Ratio |
1.86 |
Risky |
Industrial
Average |
0.73 |
|
Times Interest Earned |
25.02 |
Impressive |
Industrial
Average |
- |
Debt to Equity Ratio a measurement of how much suppliers, lenders,
creditors and obligors have committed to the company versus what the
shareholders have committed. A higher the percentage means that the company is
using less equity and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 25.03 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 0.65 greater than 0.5, most of the
company's assets are financed through debt.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Downtrend
Times Interest Earned Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
4.23 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.53 |
Acceptable |
Industrial
Average |
2.47 |
|
Inventory Conversion Period |
129.83 |
|
|
|
|
Inventory Turnover |
2.81 |
Deteriorated |
Industrial
Average |
5.64 |
|
Receivables Conversion Period |
39.31 |
|
|
|
|
Receivables Turnover |
9.29 |
Impressive |
Industrial
Average |
7.34 |
|
Payables Conversion Period |
45.27 |
|
|
|
The company's Account Receivable Ratio is calculated as 9.29 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 119 days at the
end of 2013 to 130 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 3.06 times in year 2013 to 2.81 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.53 times and 1.07
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.66.32 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.72.13 |
|
Thai Baht |
1 |
Rs.1.84 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
AMR |
|
|
|
|
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.