MIRA INFORM REPORT
|
Report No. : |
356209 |
|
Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
LEONICS CO., LTD. |
|
|
|
|
Registered Office : |
113
Moo 5, Wellgrow
Industrial Estate,
Bangna-Trad K.M. 36
Road, Bangsamak, Bangpakong,
Chachoengsao 24130 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
25.10.1993 |
|
|
|
|
Com. Reg. No.: |
0105536121781 [Former : 7381/2536] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is
engaged in design,
manufacturing and distributing wide
range of power
electronics and energy
conservation products. The
products are as
follows: UPS [Uninterruptible
Power Supply], AVR
[Automatic Voltage Regulator], SPD [Surge
Protection Devices], SSE
[Surge Suppression Equipment], TVSS [Transient Voltage
Surge Suppressor], Smart light |
|
|
|
|
Employees: |
230 |
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
LEONICS CO., LTD.
SUMMARY
BUSINESS ADDRESS
: 113 MOO 5,
WELLGROW INDUSTRIAL ESTATE,
BANGNA-TRAD K.M.
36 ROAD,
BANGSAMAK,
BANGPAKONG,
CHACHOENGSAO
24130, THAILAND
TELEPHONE : [66]
38 570-503-6
FAX : [66] 38
570-512
E-MAIL ADDRESS : global_business@leonics.com
rne@leonics.com
REGISTRATION ADDRESS
: SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1993
REGISTRATION NO. : 0105536121781 [Former :
7381/2536]
TAX ID NO. : 3011351970
CAPITAL REGISTERED : BHT.
50,000,000
CAPITAL PAID-UP : BHT.
50,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : MARCH
31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
WUTTIPONG SUPONTHANA, THAI
MANAGING DIRECTOR
NO. OF STAFF : 230
LINES OF BUSINESS : POWER
ELECTRONICS PRODUCTS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
CORPORATE
PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on October
25, 1993 as
a private limited
company under the
registered name LEONICS
CO., LTD., with
the business objective
to produce and
supply wide range
of power electronics
and energy conservation
products to both
domestic and international
markets. The subject received
promotional privilege for tax
exception from the
Board of Investment
for a period of 7 years commencing
from the first year of
its revenue earning.
It currently employs
approximately 230 staff.
The subject achieved
many awards since
its inception in 1993.
The awards are
as
follows:
1997 : Certified
ISO 9002: 1994 by Underwriters Laboratories
Inc., [USA]
1998 : Certified
ISO 9001: 1994 by Underwriters Laboratories
Inc., [USA]
1999 : Prime
Minister award on SME Management
1999
:
JETRO honors as
excellence enterprise form
Thailand on APEC
SME forum
on Electrical
and electronics
:
Certified TIS 9001:1994
by TISI
:
All true on - line
UPS certified TIS
1921-2538
: Quality
to use “THAILAND
BRAND” Logo
2000 : Prime
Minister Export Award
2000
:
Prime Minister Export
Award for Outstanding
Performance as the
Best Exporter
:
Prime Minister Export
Award for Distinctive
Development a Marketing
of
Thai Owned Brand
Export
:
Prime Minister Export
Award for Distinctive
Development a Marketing
of
Thai Owned Design
Exports
2001 : Certified
TIS/ISO 14001:1996 by
Management System Certification
Institute
[Thailand]
: Certified
TIS/ISO 9001:1994 by
Management System Certification
Institute
[Thailand]
: Certified
ISO 9001:2000 by
Underwriters Laboratories Inc.,
U.S.A.
The subject’s registered
address is 113
Moo 5, Wellgrow
Industrial Estate, Bangna-Trad
K.M. 36 Rd.,
Bangsamak, Bangpakong, Chachoengsao
24130, and this
is the subjects’
current operating address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Samrerng Kriengprathana |
|
Thai |
68 |
|
Mrs. Pranee Kriengprathana |
|
Thai |
66 |
|
Mr. Decho Apinyalawan |
|
Thai |
68 |
|
Mr. Surapol Sangthongsuk |
|
Thai |
58 |
|
Mr. Wuttipong Suponthana |
|
Thai |
50 |
|
Mr. Veeraphan Pornthabthong |
|
Thai |
58 |
|
Ms. Surang Kriengprathana |
|
Thai |
42 |
|
Mr. Arunkij Sorsukpaibul |
|
Thai |
48 |
|
Mrs. Suree Ono |
|
Thai |
41 |
AUTHORIZED
PERSON
Two of the
above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Wuttipong Suponthana
is the Managing
Director.
He is Thai
nationality with the
age of 50 years
old.
Mr. Surapol Sangthongsuk is
the Factory Manager.
He is Thai
nationality with the
age of 58
years old.
Ms. Warunee Imsumran is
the Sales & Marketing Manager.
She is Thai
nationality.
BUSINESS
OPERATIONS
The subject is engaged in
design, manufacturing and
distributing wide range
of power electronics
and energy conservation
products. The products
are as follows:
UPS [Uninterruptible Power Supply]
AVR [Automatic Voltage Regulator]
SPD [Surge Protection
Devices]
SSE [Surge Suppression Equipment]
TVSS [Transient Voltage Surge
Suppressor]
Smart light
Renewable Energy Products:
solar module, active
solar tracking system,
charge controller, inverter,
battery, solar thermal,
and I-V-checker.
Energy Saving Products:
gas fired absorption
chiller, gas fired
absorption heat pump,
lighting energy saver,
energy efficient lamp and
pneumatic tubes system.
Custom Renewable Energy
System: 200 kWp
PV-diesel generator hybrid
minigrid system, PV
power farm system,
inverter hybrid system
for remote area
power system, mini-power
plant, 100kWp PV-diesel
generator hybrid minigrid
system, PV system
for communication, PV
battery charging system,
PV testing system,
etc.
Energy Conservation Systems:
solar photovoltaic system,
solar island hybrid
power, solar farm,
stand-alone solar power,
solar grid tie
system, solar home
system, solar water
pump system, solar thermal
system, solar water
heating system and
cost-effective solar thermal.
The subject also
provides energy saving
consulting service.
PRODUCTION
CAPACITY
20,000 units/month [line
interactive UPS 500
AV]
MAJOR
BRAND
“LEONICS”
PURCHASE
Most of raw materials
and accessories are
purchased from local
suppliers, electronic parts and
batteries are imported from
Taiwan, Singapore, Republic of
China, Japan, Malaysia,
Australia, Germany, U.S.A.
and France.
MALOR
SUPPLIERS
Regen Power Pty
Ltd. :
Australia
Sumetzberger Gmbh : Germany
Apricus Solar Co.,
Ltd. : Republic
of China
SALES
[LOCAL]
80% of its
products is sold
locally to wholesalers,
dealers and end-users.
EXPORT [COUNTRIES]
20% of its
products is exported
to Vietnam, Myanmar,
Philippines, Laos, Korea,
Japan, United Arab
Emirates, Dubai, India,
Indonesia, Malaysia, Brunei,
Australia,
Hong Kong and
Republic of China.
MAJOR CUSTOMERS
Leo Power Solutions
Co., Ltd. :
Thailand
Tip Information Systems
Co., Ltd. : Thailand
SK Automation Co.,
Ltd. : Thailand
My Web Co.,
Ltd. : Thailand
Pong Paiboon Hi-Tech
Co., Ltd. : Thailand
JB Computer and
OA Co., Ltd. :
Thailand
SUBSIDIARIES
& AFFILIATED COMPANIES
Leo Electronics Co.,
Ltd.
Business Type : Distributor of
“Leonics” products
Leonics Esco Co., Ltd.
Business Type : Service center
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
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 30-60
days.
Imports are by
L/C at sight.
Exports are against
T/T.
BANKING
Bangkok Bank Public Co.,
Ltd. [Bangna Branch]
EMPLOYMENT
The subject employs
approximately 230 staff. [office
staff and factory
workers]
LOCATION
DETAILS
The premise is owned for
operating administrative office,
factory and warehouse
at the heading address.
Premised is located
in provincial/industrial area.
Bangkok office is
located at 27, 29
Bangna-Trad Road, Bangna,
Bangkok 10260.
Tel. [66] 2746-9500,
2746-8708, Fax. [66]
2746-8712.
COMMENT
The company is
dedicated to providing the
customers with products
and services to
secure electrical efficiently
and environment-friendly. Its
business performance has
been slowing down
since the year
2014 caused by
related industry downturn.
Due to unfavourable factors
of both
domestic and global
economy, its business
performance in 2015
would be at
slow pace
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
followings :
Bht. 10,000,000
on March 8,
1994
Bht. 35,000,000
on November 10,
1994
Bht. 50,000,000
on September 6,
1996
The latest registered
capital was increased
to Bht. 50,000,000 divided into 500,000
shares of Bht.
100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
[as at
July 30, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Pranee Kriengprathana Nationality: Thai Address : 154/2
Nanglinchee Rd., Thungmahamek,
Sathorn, Bangkok |
499,997 |
99.99 |
|
Mr. Samrerng Kriengprathana Nationality: Thai Address : 154/2
Nanglinchee Rd., Thungmahamek,
Sathorn, Bangkok |
1 |
|
|
Mr. Surapol Sangthongsuk Nationality: Thai Address : 336
Soi Seenamngeon, Bangsue,
Bangkok |
1 |
= 0.01 |
|
Mrs. Suree Ono Nationality: Thai Address : 154/2
Nanglinchee Rd., Thungmahamek,
Sathorn, Bangkok |
1 |
|
Total Shareholders : 4
Share Structure
[as at July
30, 2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
4 |
500,000 |
100.00 |
NAME
OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mrs. Lakhana Neeramitr
No. 3558
BALANCE
SHEET [BAHT]
The latest financial figures published
as at March
31, 2015, 2014
& 2013 were:
ASSETS
|
Current Assets |
2015 |
2014 |
2013 |
|
|
|
|
|
|
Cash and Cash Equivalents |
74,705,824.23 |
98,103,176.17 |
62,459,732.11 |
|
Short-term Investment |
70,000,000.00 |
95,500,000.00 |
195,000,000.00 |
|
Trade Accounts & Other Receivable |
56,453,121.11 |
34,985,870.61 |
60,164,357.85 |
|
Inventories |
124,891,681.98 |
147,810,435.41 |
149,293,540.99 |
|
Other Current Assets
|
557,233.02 |
560,471.09 |
540,212.01 |
|
|
|
|
|
|
Total Current Assets
|
326,607,860.34 |
376,959,953.28 |
467,457,842.96 |
|
|
|
|
|
|
Cash at Bank pledged as a Collateral |
14,000,000.00 |
14,000,000.00 |
14,000,000.00 |
|
Investment in Subsidiaries |
101,034,079.00 |
101,034,079.00 |
4,259,919.00 |
|
Investment in Other |
35,620,566.00 |
35,620,566.00 |
35,620,566.00 |
|
Fixed Assets |
152,233,301.20 |
157,301,274.75 |
161,195,537.16 |
|
Other Non-current Assets |
3,992,018.40 |
4,000,407.44 |
5,231,695.42 |
|
Total Assets |
633,487,824.94 |
688,916,280.47 |
687,765,560.54 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2015 |
2014 |
2013 |
|
|
|
|
|
|
Trade Accounts & Other Payable
|
21,745,326.75 |
27,416,125.33 |
41,449,269.98 |
|
Accrued Income Tax |
- |
3,937,247.99 |
6,494,782.83 |
|
Other Current Liabilities |
2,162,579.95 |
227,958.21 |
1,162,114.53 |
|
|
|
|
|
|
Total Current Liabilities |
23,907,906.70 |
31,581,331.53 |
49,106,167.34 |
|
|
|
|
|
|
Employee Benefits Obligation |
20,483,133.27 |
17,889,787.05 |
16,848,681.01 |
|
Other Non-current Liabilities |
- |
- |
566,550.00 |
|
Total Liabilities |
44,391,039.97 |
49,471,118.58 |
66,521,398.35 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 500,000 shares |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
|
|
|
|
|
Capital Paid |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Retained Earnings: Appropriated for Statutory
Reserve |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Unappropriated |
534,096,784.97 |
584,445,161.89 |
566,244,162.19 |
|
Total Shareholders' Equity |
589,096,784.97 |
639,445,161.89 |
621,244,162.19 |
|
Total Liabilities & Shareholders' Equity |
633,487,824.94 |
688,916,280.47 |
687,765,560.54 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2015 |
2014 |
2013 |
|
|
|
|
|
|
Sales Income |
340,270,049.15 |
359,626,885.97 |
730,518,065.77 |
|
Interest Income |
1,948,923.70 |
4,558,128.28 |
8,422,278.77 |
|
Other Income |
3,821,885.18 |
77,580,466.96 |
2,676,245.82 |
|
Total Revenues |
346,040,858.03 |
441,765,481.21 |
741,616,590.36 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
241,277,955.33 |
206,924,473.50 |
496,705,489.81 |
|
Selling Expenses |
14,337,176.14 |
27,180,561.62 |
21,107,782.84 |
|
Administrative Expenses |
36,338,481.39 |
32,503,191.06 |
38,801,755.22 |
|
Total Expenses |
291,953,612.86 |
266,608,226.18 |
556,615,027.87 |
|
Profit / [Loss] before Income Tax |
54,087,245.17 |
175,157,255.03 |
185,001,562.49 |
|
Income Tax |
[4,435,622.09] |
[6,956,255.33] |
[14,000,914.34] |
|
|
|
|
|
|
Net Profit / [Loss] |
49,651,623.08 |
168,200,999.70 |
171,000,648.15 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2015 |
2014 |
2013 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
13.66 |
11.94 |
9.52 |
|
QUICK RATIO |
TIMES |
8.41 |
7.24 |
6.47 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.24 |
2.29 |
4.53 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.54 |
0.52 |
1.06 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
188.93 |
260.73 |
109.71 |
|
INVENTORY TURNOVER |
TIMES |
1.93 |
1.40 |
3.33 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
60.56 |
35.51 |
30.06 |
|
RECEIVABLES TURNOVER |
TIMES |
6.03 |
10.28 |
12.14 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
32.90 |
48.36 |
30.46 |
|
CASH CONVERSION CYCLE |
DAYS |
216.59 |
247.88 |
109.31 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
70.91 |
57.54 |
67.99 |
|
SELLING & ADMINISTRATION |
% |
14.89 |
16.60 |
8.20 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
30.79 |
65.30 |
33.53 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
15.90 |
48.71 |
25.32 |
|
NET PROFIT MARGIN |
% |
14.59 |
46.77 |
23.41 |
|
RETURN ON EQUITY |
% |
8.43 |
26.30 |
27.53 |
|
RETURN ON ASSET |
% |
7.84 |
24.42 |
24.86 |
|
EARNING PER SHARE |
BAHT |
99.30 |
336.40 |
342.00 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.07 |
0.07 |
0.10 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.08 |
0.08 |
0.11 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(5.38) |
(50.77) |
|
|
OPERATING PROFIT |
% |
(69.12) |
(5.32) |
|
|
NET PROFIT |
% |
(70.48) |
(1.64) |
|
|
FIXED ASSETS |
% |
(3.22) |
(2.42) |
|
|
TOTAL ASSETS |
% |
(8.05) |
0.17 |
|
ANNUAL GROWTH : RISKY
An annual sales growth is -5.38%. Turnover has decreased from THB
PROFITABILITY : SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
30.79 |
Satisfactory |
Industrial Average |
31.18 |
|
Net Profit Margin |
14.59 |
Impressive |
Industrial Average |
8.28 |
|
Return on Assets |
7.84 |
Acceptable |
Industrial Average |
13.01 |
|
Return on Equity |
8.43 |
Deteriorated |
Industrial Average |
21.45 |
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 30.79%. 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 14.59%, 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
7.84%.
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 8.43%.
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 |
13.66 |
Impressive |
Industrial Average |
2.37 |
|
Quick Ratio |
8.41 |
|
|
|
|
Cash Conversion Cycle |
216.59 |
|
|
|
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 13.66 times in 2015, increased from 11.94 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 8.41 times in 2015,
increased from 7.24 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 217 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.07 |
Impressive |
Industrial Average |
0.22 |
|
Debt to Equity Ratio |
0.08 |
Impressive |
Industrial Average |
0.03 |
|
Times Interest Earned |
- |
|
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.07 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 : ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.24 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.54 |
Deteriorated |
Industrial Average |
2.26 |
|
Inventory Conversion Period |
188.93 |
|
|
|
|
Inventory Turnover |
1.93 |
Deteriorated |
Industrial Average |
14.32 |
|
Receivables Conversion Period |
60.56 |
|
|
|
|
Receivables Turnover |
6.03 |
Acceptable |
Industrial Average |
9.60 |
|
Payables Conversion Period |
32.90 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.03 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 261 days at the
end of 2014 to 189 days at the end of 2015. This represents a positive trend.
And Inventory turnover has increased from 1.4 times in year 2014 to 1.93 times
in year 2015.
The company's Total Asset Turnover is calculated as 0.54 times and 0.52
times in 2015 and 2014 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.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
THAI BAHT |
1 |
Rs.1.83 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
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.