MIRA
INFORM REPORT
|
Report No. : |
305819 |
|
Report Date : |
03.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
THAI PEROXIDE CO., LTD. |
|
|
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Registered Office : |
16th Floor,
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
13.11.1985 |
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Com. Reg. No.: |
0105528039605 |
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Legal Form : |
Private Limited Company |
|
|
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Line of Business : |
Manufacturer 35% and 50% of
Hydrogen Peroxide [H2O2] concentrate
solution for oxidizing
and bleaching used in textile,
mining, pulp &
paper, leather-hide,
electronics, aquaculture, detergent & bleaches, chemicals, cosmetics
& environment industries, as well
as Calcium Peroxide [CaO2] used in
aquaculture, agricultural, detergent,
bleaching, cosmetics, dental, bakery, environmental industries
|
|
|
|
|
No. of Employees : |
177 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Thailand |
B1 |
B1 |
|
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, generally pro-investment policies, and
strong export industries, Thailand achieved steady growth due largely to
industrial and agriculture exports - mostly electronics, agricultural
commodities, automobiles and parts, and processed foods. Unemployment, at less
than 1% of the labor force, stands as one of the lowest levels in the world,
which puts upward pressure on wages in some industries. Thailand also attracts
nearly 2.5 million migrant workers from neighboring countries. 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 economy has weathered internal and external
economic shocks in recent years. The global economic recession severely cut
Thailand's exports, with most sectors experiencing double-digit drops. In late
2011 Thailand's recovery was interrupted by historic flooding in the industrial
areas in Bangkok and its five surrounding provinces, crippling the
manufacturing sector. The government approved flood mitigation projects worth
$11.7 billion, which were started in 2012, to prevent similar economic damage,
and an additional $75 billion for infrastructure over the following seven
years. This was expected to lead to an economic upsurge but growth has remained
slow, in part due to ongoing political unrest and resulting uncertainties.
Spending on infrastructure will require re-approval once a new government is
seated.
|
Source
: CIA |
Company summary
THAI PEROXIDE CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 16th FLOOR,
MAHATHUN PLAZA BUILDING,
888/160-161 PLOENCHIT
ROAD, LUMPINI,
PATHUMWAN, BANGKOK
10330, THAILAND
TELEPHONE : [66] 2253-6745-54, 2253-6758,
2254-3719
FAX : [66] 2253-1534,
2254-9030-1, 2254-3607
E-MAIL
ADDRESS : sales@thaiperoxide.com
tplplant@thaiperoxide.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1985
REGISTRATION
NO. : 0105528039605 [Former:
3958/2528]
TAX
ID NO. : 3101390742
CAPITAL REGISTERED : BHT. 130,000,000
CAPITAL PAID-UP : BHT.
130,000,000
SHAREHOLDER’S PROPORTION : THAI :
34.00%
FOREIGN :
66.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SORINDAR PAL SACHDEV,
INDIAN
CHIEF EXECUTIVE
OFFICER
NO.
OF STAFF : 177
LINES
OF BUSINESS : HYDROGEN PEROXIDE
AND RELATED PRODUCTS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
|
|
|
CORPORATE
PROFILE |
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established on November
13, 1985 as
a private limited
company under the name
style THAI PEROXIDE
CO., LTD., by Thai and
foreign groups, with the business objective to manufacture and
distribute 35% and 50% hydrogen peroxide
concentrate, used in
various environmental application,
which the production
facility is located
in Saraburi province.
It currently employs
177 staff.
Presently, the major shareholders are Peroxychem Netherlands
Holdings B.V., Netherlands, Thai
Polyphosphate and Chemicals Co., Ltd., Thailand
and Hallock International
Ltd., Liberia, which are
holding around 50%, 29% and
16% of the subject’s
shares respectively.
AWARDS
-
The
international standard ISO 9001
and OHSAS 18001
certification, production quality
management, by Bureau
Veritas [Thailand] Ltd.
1994-1995
-
ISO 14001
certification, environmental quality
management by MASCI,
in 2001 and upgrading
to ISO 9002 : 2000
certification, by MASCI
in August 2002.
The
subject’s registered address
is 16th Floor,
Mahathun Plaza, Building,
888/160-161 Ploenchit Rd.,
Lumpini, Pathumwan, Bangkok 10330,
and this is
the subject’s current
operation address.
THE BOARD OF
DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Shyam Sundar Mahansaria |
|
Indian |
80 |
|
Mr. Kumar Mancalam Birla |
|
Indian |
49 |
|
Mr. Sorindar Pal Sachdev |
|
Indian |
79 |
|
Mrs. Rajashree Birla |
|
Indian |
70 |
|
Mr. Jay Bertsch |
|
American |
62 |
|
Mr. Bruce Andrew Lerner |
|
American |
49 |
|
Mr. Ronald Cuizon Caug
|
|
Filipino |
69 |
|
Mr. Stephanie Gayle Montag |
|
American |
36 |
|
Mr. Lalit Kumar Shantaram
Naik |
|
Indian |
54 |
|
Mr. Thomas Francis Ball |
|
American |
53 |
AUTHORIZED PERSON
Any two of the above
directors can jointly
sign on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Sorindar Pal
Sachdev is the
Chief Executive Officer.
He is Indian
nationality with the
age of 79 years
old.
Mr. Ajay Sirinivasan is
the Chief Finance
Officer.
He is Indian
nationality.
Mr. Anupan Gupta is
the Senior Executive
Vice President/Operation Manager.
He is Indian
nationality.
BUSINESS OPERATIONS
The subject’s activity is a
manufacturer 35% and 50% of
Hydrogen Peroxide [H2O2] concentrate
solution for oxidizing
and bleaching used in textile,
mining, pulp &
paper, leather-hide, electronics,
aquaculture, detergent & bleaches, chemicals, cosmetics & environment industries, as well as Calcium
Peroxide [CaO2] used in
aquaculture, agricultural, detergent,
bleaching, cosmetics, dental, bakery, environmental industries.
The production technology
has been supported
by FMC corporation,
U.S.A.
MAJOR BRANDS
“TPL”, “ECARE” &
“ENCARE”
PRODUCTION CAPACITY
19,000 metric tons
per annum
PURCHASE
80% of raw
material mainly base
chemical is imported
from Singapore, Japan,
Republic of China,
Germany and Taiwan,
the remaining 20%
is purchased from
local supplier and
agents.
MAJOR SUPPLIER
PTT Public Company
Limited : Thailand
SALES [LOCAL]
80% of the products
is sold locally
to manufacturers, dealers
and end-users.
EXPORT [COUNTRY]
20% of the products is
exported to United States of
America, Singapore, Malaysia,
Vietnam, Japan, Republic
of China, India,
Indonesia, Philippines, Pakistan
and Korea.
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
Kasikornbank Public Co.,
Ltd.
[Phaholyothin Branch : 400
Phaholyothin Rd., Samsennai,
Phyathai, Bangkok 10400]
The Siam Commercial
Bank Public Co.,
Ltd.
[Head Office : 9 Ratchadapisek Rd.,
Ladyao, Jatujak, Bangkok
10900]
Bank of Ayudhya
Public Co., Ltd.
[Ploenchit Branch :
Ploenchit Rd., Lumpini,
Pathumwan, Bangkok 10330]
Bangkok Bank Public
Co., Ltd.
[Head Office :
333 Silom Rd.,
Silom, Bangrak, Bangkok
10500]
EMPLOYMENT
The subject employs
177 staff, comprising
77 permanent staff
and 100 temporary
workers.
LOCATION DETAILS
The premise is
rented for administrative office at
the heading address. Premise is
located in a
prime commercial area.
Factory
and warehouse are
located at 70
Moo 4, Sudbanthad
Rd., T. Taldiew,
A.
Kaengkoy, Saraburi 18110.
Tel: [66] 36
240-210, Fax [66] 36
240-211
COMMENT
Thai Peroxide is
the pioneer producer
of Hydrogen Peroxide
in Thailand, using the
same technology from
FMC, the 4th largest
producer in the
world.
Its
products have been
used as a raw
material in various
applications from foods
to industrial goods
productions. Subject is a
leading supplier earning
creditability and comprehensive
network in the
Thai industry. Generally,
its business is
good and growing
considerably.
FINANCIAL INFORMATION
The capital was
originally registered at
Bht. 100,000 divided into
100 shares of
Bht. 1,000 each.
On August 18, 1987, the capital
was increased to Bht.
130,000,000 divided into 130,000
shares of Bht.
1,000 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at June 27,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Peroxychem Netherlands Holdings
B.V. Nationality: Dutch Address : Herengracht
466, 1017 CA, Amsterdam, Amsterdam, Netherlands |
65,000 |
50.00 |
|
Thai Polyphosphate and
Chemicals Co., Ltd. Nationality: Thai Address : 888/162-163
Ploenchit Road,
Lumpini, Pathumwan, Bangkok
|
37,660 |
28.97 |
|
Hallock International Ltd.
Nationality: Liberian Address : 80 Broad
Street, Mondrovia, Liberia |
20,800 |
16.00 |
|
Thai Rayon Public
Company Limited Nationality: Thai Address : 888/160-161 Ploenchit Road,
Lumpini,
Pathumwan, Bangkok 10330 |
6,520 |
5.02 |
|
Thai Industrial Management
and Trading Co., Ltd. Nationality: Thai Address : 77
Moo 6, Soi
Sukhapiban 1,
Poochaosamingprai Road, T. Samrong,
A.
Phrapradaeng, Samutprakarn |
10 |
= 0.01 |
|
Rama Trading Co.,
Ltd. Nationality: Thai Address : 77
Moo 6, Soi
Sukhapiban 1,
Poochaosamingprai Road, T. Samrong,
A.
Phrapradaeng, Samutprakarn |
10 |
|
Total Shareholders : 6
Share Structure [as
at June 27,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
44,200 |
34.00 |
|
Foreign |
2 |
85,800 |
66.00 |
|
Total |
6 |
130,000 |
100.00 |
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT NO. :
Ms. Krongkaew Limkittikul No.
5874
BALANCE SHEET [BAHT]
The
latest financial figures published
for December 31, 2013, 2012 & 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
3,176,948 |
4,558,091 |
5,183,464 |
|
Trade Accounts & Other
Receivable |
120,467,071 |
116,010,765 |
98,672,374 |
|
Inventories |
80,598,367 |
81,348,686 |
78,194,292 |
|
Other Current Assets
|
7,827,705 |
5,387,725 |
5,880,242 |
|
|
|
|
|
|
Total Current Assets
|
212,070,091 |
207,305,267 |
187,930,372 |
|
|
|
|
|
|
Fixed Assets |
466,837,453 |
414,333,552 |
375,023,391 |
|
Intangible Assets |
24,706,403 |
26,518,067 |
28,329,733 |
|
Other Non-current Assets |
656,557 |
696,879 |
831,879 |
|
Total Assets |
704,270,504 |
648,853,765 |
592,115,375 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Short-term-Loan from Financial Institutions |
- |
25,000,000 |
- |
|
Trade Accounts & Other Payable |
95,213,360 |
84,740,255 |
88,460,288 |
|
Short-term Loan from Related Company |
138,000,000 |
93,500,000 |
79,000,000 |
|
Accrued Income Tax |
2,294,718 |
5,187,162 |
15,002,652 |
|
Other Current Liabilities |
1,757,576 |
1,390,423 |
2,057,321 |
|
|
|
|
|
|
Total Current Liabilities |
237,265,654 |
209,817,840 |
184,520,261 |
|
|
|
|
|
|
Reserve for Employee
Benefit |
9,256,292 |
8,837,872 |
9,160,324 |
|
Total Liabilities |
246,521,946 |
218,655,712 |
193,680,585 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 130,000 shares |
130,000,000 |
130,000,000 |
130,000,000 |
|
|
|
|
|
|
Capital Paid |
130,000,000 |
130,000,000 |
130,000,000 |
|
Retained Earning Appropriated for
Statutory Reserve |
6,589,514 |
6,589,514 |
6,589,514 |
|
Unappropriated |
321,159,044 |
293,608,539 |
261,845,276 |
|
Total Shareholders' Equity |
457,748,558 |
430,198,053 |
398,434,790 |
|
Total Liabilities &
Shareholders' Equity |
704,270,504 |
648,853,765 |
592,115,375 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales |
689,725,194 |
644,950,280 |
698,509,463 |
|
Other Income |
3,268,703 |
3,957,387 |
2,635,177 |
|
Total Revenues |
692,993,897 |
648,907,667 |
701,144,640 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
518,396,942 |
474,339,353 |
460,021,199 |
|
Selling Expenses |
101,108,049 |
96,496,884 |
94,275,936 |
|
Administrative Expenses |
35,335,552 |
34,336,412 |
30,754,112 |
|
Total Expenses |
654,840,543 |
605,172,649 |
585,051,247 |
|
|
|
|
|
|
Profit before Financial
Expenses & Income Tax |
38,153,354 |
43,735,018 |
116,093,393 |
|
Financial Expenses |
[3,308,103] |
[2,483,552] |
[2,567,644] |
|
Profit before Income Tax
Expenses |
34,845,251 |
41,251,466 |
113,525,749 |
|
Income Tax Expenses |
[7,294,746] |
[9,488,203] |
[34,127,687] |
|
|
|
|
|
|
Net Profit / [Loss] |
27,550,505 |
31,763,263 |
79,398,062 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.89 |
0.99 |
1.02 |
|
QUICK RATIO |
TIMES |
0.52 |
0.57 |
0.56 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.48 |
1.56 |
1.86 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.98 |
0.99 |
1.18 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
56.75 |
62.60 |
62.04 |
|
INVENTORY TURNOVER |
TIMES |
6.43 |
5.83 |
5.88 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
63.75 |
65.65 |
51.56 |
|
RECEIVABLES TURNOVER |
TIMES |
5.73 |
5.56 |
7.08 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
67.04 |
65.21 |
70.19 |
|
CASH CONVERSION CYCLE |
DAYS |
53.46 |
63.04 |
43.41 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
75.16 |
73.55 |
65.86 |
|
SELLING & ADMINISTRATION |
% |
19.78 |
20.29 |
17.90 |
|
INTEREST |
% |
0.48 |
0.39 |
0.37 |
|
GROSS PROFIT MARGIN |
% |
25.31 |
27.07 |
34.52 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
5.53 |
6.78 |
16.62 |
|
NET PROFIT MARGIN |
% |
3.99 |
4.92 |
11.37 |
|
RETURN ON EQUITY |
% |
6.02 |
7.38 |
19.93 |
|
RETURN ON ASSET |
% |
3.91 |
4.90 |
13.41 |
|
EARNING PER SHARE |
BAHT |
211.93 |
244.33 |
610.75 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.35 |
0.34 |
0.33 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.54 |
0.51 |
0.49 |
|
TIME INTEREST EARNED |
TIMES |
11.53 |
17.61 |
45.21 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
6.94 |
(7.67) |
|
|
OPERATING PROFIT |
% |
(12.76) |
(62.33) |
|
|
NET PROFIT |
% |
(13.26) |
(59.99) |
|
|
FIXED ASSETS |
% |
12.67 |
10.48 |
|
|
TOTAL ASSETS |
% |
8.54 |
9.58 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 6.94%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
25.31 |
Acceptable |
Industrial
Average |
47.71 |
|
Net Profit Margin |
3.99 |
Impressive |
Industrial
Average |
(0.67) |
|
Return on Assets |
3.91 |
Impressive |
Industrial
Average |
(0.59) |
|
Return on Equity |
6.02 |
Impressive |
Industrial
Average |
(1.14) |
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 25.31%. 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 3.99%, higher
figure when compared with those
of its average competitors in the same industry, indicated that business was an
efficient operator in a dominant
position within its industry.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. Return on Assets ratio is
3.91%, 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.
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 6.02%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.89 |
Risky |
Industrial
Average |
1.60 |
|
Quick Ratio |
0.52 |
|
|
|
|
Cash Conversion Cycle |
53.46 |
|
|
|
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 0.89 times in 2013, decreased from 0.99 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 0.52 times in 2013,
decreased from 0.57 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 54 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.35 |
Impressive |
Industrial
Average |
0.48 |
|
Debt to Equity Ratio |
0.54 |
Impressive |
Industrial
Average |
0.93 |
|
Times Interest Earned |
11.53 |
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 11.54 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 0.35 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.48 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.98 |
Impressive |
Industrial
Average |
0.89 |
|
Inventory Conversion Period |
56.75 |
|
|
|
|
Inventory Turnover |
6.43 |
Impressive |
Industrial
Average |
3.30 |
|
Receivables Conversion Period |
63.75 |
|
|
|
|
Receivables Turnover |
5.73 |
Impressive |
Industrial
Average |
3.87 |
|
Payables Conversion Period |
67.04 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.73 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 63 days at the
end of 2012 to 57 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 5.83 times in year 2012 to 6.43 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.98 times and 0.99
times in 2013 and 2012 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.61.88 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.