MIRA INFORM REPORT
|
Report No. : |
306529 |
|
Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIAM KRAFT INDUSTRY CO., LTD. |
|
|
|
|
Registered Office : |
1 Siam Cement Road, Bangsue Bangkok 10800 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
27.11.1984 |
|
|
|
|
Com. Reg. No.: |
0105556020301 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer of Kraft
Paper and packaging
products, including kraft
liner board, corrugating
medium, core board,
multi-wall sack kraft,
sundry bag paper,
converted and finished
products. |
|
|
|
|
No. of Employee : |
1,000 |
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 – 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
name
SIAM KRAFT INDUSTRY
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 1
SIAM CEMENT ROAD,
BANGSUE,
BANGKOK 10800,
THAILAND
TELEPHONE : [66] 2586-3333,
2586-4641
FAX :
[66] 2586-2741,
2586-2915, 2586-2053
E-MAIL
ADDRESS : info@siamkraft.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2013
REGISTRATION
NO. : 0105556020301
TAX
ID NO. : 3035624982
CAPITAL REGISTERED : BHT. 3,450,000,000
CAPITAL PAID-UP : BHT.
3,450,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
WICHAN JITPAKDEE, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 1,000
LINES
OF BUSINESS : KRAFT
PAPER AND PACKAGING
PRODUCTS MANUFACTURER, DISTRIBUTOR AND 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
originally established on
November 27, 1984
as a private
limited company, under
the name “Siam Kraft
Industry Co., Ltd.”,
the registration no. 0105527042092, by
Thai groups, with
the business objective
to manufacture kraft paper and
packaging products to
domestic and international
markets.
On February 1,
2013, there was a
merger among the
company and other
two related companies
as follows:
“Siam Kraft Industry
Co., Ltd.” -
registration no. 0105527042092
“Thai Kraft Paper
Industry Co., Ltd.”
- registration
no. 0105532090661
“Thai Union
Paper Industry Co.,
Ltd.” - registration no.
0115532002915
In effect of
the merger, the
new registered company
was formed under
the name SIAM KRAFT
INDUSTRY CO., LTD.,
the registration no.
0105556020301. The subject
is wholly owned
subsidiary of SCG
Paper Public Company
Limited, which is
a member of
SCG group of
companies. It currently
employs 1,000 staff.
The subject’ s registered
address is 1
Siam Cement Rd.,
Bangsue, Bangkok 10800,
and this is
the subject’s current
operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Rungroj Rangsiyopas |
|
Thai |
52 |
|
Mr. Somchai Wangwattanapanich |
|
Thai |
57 |
|
Mr. Montree Mahaprukpong |
|
Thai |
54 |
|
Mr. Wichan Jitpakdee |
|
Thai |
- |
|
Mr. Chatchai Luekulwattanachai |
|
Thai |
59 |
AUTHORIZED
PERSON
Two of the
above directors can
jointly sign on
behalf of the
subject with company’s affixed.
MANAGEMENT
Mr. Wichan Jitpakdee is
the Managing Director.
He is Thai
nationality.
Mr. Karan Tejasen is
the Marketing Director.
He is Thai
nationality.
Mr. Chalermsak Sirikul is
the Marketing Manager.
He is Thai
nationality.
Mr. Mongkol Hangsapruek is
the Plant Manager.
He is Thai
nationality.
Mr. Mahasan Thieravarut is
the Logistics Development
Manager.
He is Thai
nationality.
BUSINESS
OPERATIONS
The subject’s activity
is a manufacturer
of Kraft Paper
and packaging products,
including kraft liner
board, corrugating medium,
core board, multi-wall
sack kraft, sundry
bag paper, converted
and finished products.
PURCHASE
Most of paper
pulps are purchased
from companies within
the SCG’s paper
business group.
IMPORT
[COUNTRIES]
Machinery, raw material
and chemical are
imported from Germany,
United Kingdom, Singapore, Japan,
Republic of China
and Italy.
MAJOR
SUPPLIERS
J.M. Voith GmbH. : Germany
Metso Paper [Thailand]
Co., Ltd. : Thailand
SCG Paper Public
Company Limited :
Thailand
Kaihudjun Co., Ltd. : Thailand
SALES
[LOCAL]
60% of its
products is sold
locally to wholesalers
and manufacturers.
EXPORT COUNTRIES]
40% of its
products is exported
to Malaysia, United
States of America,
Singapore, Vietnam, Australia,
New Zealand, Sri
Lanka, India, Pakistan,
Saudi Arabia, Japan,
Philippines, UAE, Fiji,
Hong Kong, Laos, Bangladesh, Indonesia,
Myanmar and Taiwan.
MAJOR
CUSTOMERS
Kimberly-Clark Thailand Ltd. : Thailand
W. Box and Packaging
Co., Ltd. : Thailand
TSH Kraft Co.,
Ltd. : Thailand
A.N.B. Packaging Co.,
Ltd. : Thailand
SUBSIDIARIES
& AFFILIATED COMPANIES
The subject is a member
of SCG Group
of companies. In
the business group
of paper, there
are several companies
as the followings:
|
- The Siam Pulp
and Paper Public
Co., Ltd. |
|
- Thai Containers Ltd. |
|
- Thai Paper Co., Ltd. |
|
- Siam Cellulose Co.,
Ltd. |
|
- The Siam Forestry
Co., Ltd. |
|
- Siam Printing and
Packaging Co., Ltd. |
|
- Thai Union Paper
Public Co., Ltd. |
|
- Thai Container Industry
Co., Ltd. |
|
- Thai Containers Ratchaburi
[1989] Co., Ltd. |
|
- Thai Containers Songkhla
[1994] Co., Ltd. |
|
- Thai Container Chonburi
[1995] 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 30-60-90
days.
Local bills are
paid by cash
or on the credits
term of 30-60-90
days.
Imports are by
L/C at sight
& T/T.
Exports are against
L/C at sight
& T/T.
BANKING
Kasikornbank Public Co.,
Ltd.
[Head Office
: 1 Kasikorn Lane, Rajburana
Road, Rajburana, Bangkok]
The Siam Commercial
Bank Public Co., Ltd.
[Head Office :
9 Ratchadapisek Rd.,
Ladyao, Jatujak, Bangkok]
Krung Thai Bank
Public Co., Ltd.
[Bangsue Branch :
Bangna-Trad Rd., Bangna,
Bangkok]
TMB Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 1,000 staff. [office
staff and factory
workers]
LOCATION
DETAILS
The premise is
owned for operating
office at the
heading address. Premise
is located in
commercial/residential area.
The subject currently
has 32 branches
as follows:
- [Factory I]
19 Moo 19
Sang-Xuto Road, T. Thapha,
A. Ban Pong, Ratchaburi 70110.
Tel: [66] 32
211-388-90, on 112,000
square meters of
area.
- [Factory II] 99
Moo 6, Sang-xuto Road,
T. Wangsala, A.
Muang, Kanchanaburi 71130.
- 30 Moo 7,
T. Nongpling, A.
Nongkae, Saraburi 18140
- 9/7 Moo 4,
T. Chalung, A. Hadyai, Songkhla
90110.
- 38/10 Moo 5,
T. Thungsukhla, A.
Sriracha, Chonburi 20230.
- 406 Mo 9,
T. Samrongnua, A. Muang,
Samutprakarn 10270.
- 261 Moo 5
T. Sarapee, A. Sarapee, Chiangmai 50140.
- 25/2 Moo 4,
T. Huaykapi, A. Muang, Chonburi
20130.
- 393 Moo 1,
T. Nonesomboon, A.
Banhaed, Khon Kaen
40110.
- 79 Prukangkao Road,
T. Banpru, A. Hadyai, Songkhla
90250.
- 8/2 Moo 6,
T. Banpathum, A.
Samkok, Pathumthani 12160.
- 107 Moo 9,
Baypass Road, T. Huasamrong, A. Plaengyao, Chachoengsao 24190.
- 221 Moo 9,
Onnuch Road, Thabyao,
Ladkrabang, Bangkok 10520.
- 6 Moo 18,
Surin-Prasart Road, T. Chanieng, A. Muang, Surin
32000.
- 10 Moo 3,
T. Klongnueng, A.
Klongluang, Pathumthani 12120.
- 85/3 Moo 6,
Bangkruay-Sainoi Road, T. Bangrakyai, A. Bangbuathong, Nonthaburi 11110.
- 222 Hatairat Road,
Minburi, Bangkok 10510.
- 121 Moo 6,
T. Nongkonkwang, A.
Muang, Udornthani 41000.
- 69/1 Moo 6,
T. Samruen, A. Bangpa-in, Ayutthaya 13000.
- 111/10 Moo 2,
T. Bankao, A. Panthong, Chonburi
20160.
- 1139/1 Suranarai Road,
T. Naimuang, A. Muang, Nakornratchasima 30000.
- 84/5 Moo 1,
T. Nongplalai, A.
Banglamung, Chonburi 20150.
- 276/58 Moo 3,
T. Bo-Win, A. Sriracha,
Chonburi 20230.
- 76 Moo 10,
T. Nonethong, A. Muang, Khon
Kaen 40000.
- 20 Paendinthong 1 Road,
T. Talad, A. Muang, Chantaburi 22000.
- 49/5 Moo 4,
T. Bangmuang, A.
Bangyai, Nonthaburi 11140.
- 97 Highway No. 36,
T. Mabkha, A. Nikompattana, Rayong
21180.
- 11 Soi Ekachai
114, Bangbon, Bangkok
10150.
- 125/2 Moo 7,
T.Bangchak, A.
Phrapradaeng, Samutprakarn 10130.
- 117 Moo 7,
Permsin Road, Saimai,
Bangkok 10220.
- 432 Moo 4,
T. Samrongnua A. Muang, Samutprakarn 10270.
- 222 Moo 1,
T. Wangkanai, A.
Thamuang, Kanchanaburi 71110.
COMMENT
The company is a leading manufacturer
of packaging and industrial paper
in Asia. Demand
of Kraft paper is
growing in line
with industrial expansion. The
needs of
paper packaging for industrial
products for both domestic and exports
had been substantial increased,
therefore demand of
Kraft paper was
risen continuously.
In
2013 growth of
the Thai paper packaging
industry is strong, especially for the company which combined
highly efficient three
kraft paper manufacturers. It
is efficient to
expand market share and
explore new markets.
FINANCIAL
INFORMATION
The capital was
registered at Bht.
3,450,000,000 divided into
34,500,000 shares of
Bht. 100 each
with fully paid.
THE
HAREHOLDERS LISTED WERE
: [as at
April 28, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
SCG Paper Public
Company Limited Nationality: Thai Address : 1
Siam Cement Rd.,
Bangsue, Bangkok |
34,499,998 |
100.00 |
|
Mrs. Pornphen Namwongse Nationality: Thai Address : 185
Soi Paholyothin 53,
Anusawaree,
Bangkhen, Bangkok |
1 |
- |
|
Ms. Prapalrat Tangviriyapaibul Nationality: Thai Address : 388/74
Soi Romklao 22,
Minburi, Bangkok |
1 |
- |
Total Shareholders : 3
Share Structure [as at
April 28, 2014]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
34,500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
34,500,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Pornthip Rimdusit
No. 5565
BALANCE
SHEET [BAHT]
The latest financial figures published
as at December 31,
2013 was :
ASSETS
|
Current Assets |
2013 |
|
|
|
|
Cash and Cash Equivalents |
15,313,864 |
|
Trade Accounts & Other
Receivable |
3,295,149,508 |
|
Inventories |
2,620,574,712 |
|
Other Current Assets
|
214,348,678 |
|
|
|
|
Total Current Assets
|
6,145,386,762 |
|
Investment in Associated and Subsidiaries |
5,055,587,667 |
|
Investment Property |
45,495,914 |
|
Fixed Assets |
7,565,380,831 |
|
Intangible Assets |
57,416,727 |
|
Deferred Income Tax |
70,522,754 |
|
Other Non-current Assets |
1,734,537 |
|
Total Assets |
18,941,525,192 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
|
|
|
|
Bank Overdraft from Financial
Institutions |
6,503,928 |
|
Trade Accounts & Other
Payable |
2,523,412,010 |
|
Short-term Loan from Related Company |
2,276,768,051 |
|
Accrued Income Tax |
441,975,178 |
|
Short-term Provisions |
12,109,909 |
|
Other Current Liabilities |
35,865,397 |
|
|
|
|
Total Current Liabilities |
5,296,634,473 |
|
Long-term Loan from Financial Institutions |
3,300,000,000 |
|
Other Non-current Liabilities |
246,884,178 |
|
Total Liabilities |
8,843,518,651 |
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 34,500,000 shares |
3,450,000,000 |
|
|
|
|
Capital Paid |
3,450,000,000 |
|
Retained Earnings: Appropriated for Statutory
Reserve |
292,076,705 |
|
Unappropriated |
6,355,929,836 |
|
Total Shareholders' Equity |
10,098,006,541 |
|
Total Liabilities &
Shareholders' Equity |
18,941,525,192 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
Feb. 1,
2013 – Dec. 31,
2013 |
|
|
|
|
Sales Income |
22,381,084,664 |
|
Gain on Exchange Rate |
96,804,051 |
|
Other Income |
207,500,197 |
|
Total Revenues |
22,685,388,912 |
|
Expenses |
|
|
|
|
|
Cost of Goods
Sold |
18,542,623,334 |
|
Selling Expenses |
795,478,800 |
|
Administrative Expenses |
655,831,928 |
|
Total Expenses |
19,993,934,062 |
|
|
|
|
Profit before Financial Cost & Income Tax |
2,691,454,850 |
|
Financial Costs |
[205,898,428] |
|
Profit before Income Tax |
2,485,556,422 |
|
Income Tax |
[466,346,122] |
|
|
|
|
Net Profit / [Loss] |
2,019,210,300 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
CURRENT RATIO |
TIMES |
1.16 |
|
QUICK RATIO |
TIMES |
0.63 |
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.96 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.18 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
51.58 |
|
INVENTORY TURNOVER |
TIMES |
7.08 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
53.74 |
|
RECEIVABLES TURNOVER |
TIMES |
6.79 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
49.67 |
|
CASH CONVERSION CYCLE |
DAYS |
55.65 |
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
COST OF GOODS SOLD |
% |
82.85 |
|
SELLING & ADMINISTRATION |
% |
6.48 |
|
INTEREST |
% |
0.92 |
|
GROSS PROFIT MARGIN |
% |
18.51 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
12.03 |
|
NET PROFIT MARGIN |
% |
9.02 |
|
RETURN ON EQUITY |
% |
20.00 |
|
RETURN ON ASSET |
% |
10.66 |
|
EARNING PER SHARE |
BAHT |
58.53 |
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
DEBT RATIO |
TIMES |
0.47 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.88 |
|
TIME INTEREST EARNED |
TIMES |
13.07 |
PROFITABILITY
: IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
18.51 |
Deteriorated |
Industrial
Average |
129.44 |
|
Net Profit Margin |
9.02 |
Impressive |
Industrial
Average |
5.36 |
|
Return on Assets |
10.66 |
Impressive |
Industrial
Average |
7.28 |
|
Return on Equity |
20.00 |
Impressive |
Industrial
Average |
14.31 |
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 18.51%. 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 9.02%, 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
10.66%, 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 20%, 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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.16 |
Satisfactory |
Industrial
Average |
1.17 |
|
Quick Ratio |
0.63 |
|
|
|
|
Cash Conversion Cycle |
55.65 |
|
|
|
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 1.16 times in 2013, 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 0.63 times in 2013, 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 56 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Stable
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.47 |
Impressive |
Industrial
Average |
0.48 |
|
Debt to Equity Ratio |
0.88 |
Impressive |
Industrial
Average |
0.90 |
|
Times Interest Earned |
13.07 |
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 13.08 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 0.47 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 |
2.96 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.18 |
Satisfactory |
Industrial
Average |
1.36 |
|
Inventory Conversion Period |
51.58 |
|
|
|
|
Inventory Turnover |
7.08 |
Satisfactory |
Industrial
Average |
8.87 |
|
Receivables Conversion Period |
53.74 |
|
|
|
|
Receivables Turnover |
6.79 |
Impressive |
Industrial
Average |
4.70 |
|
Payables Conversion Period |
49.67 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.79 and in 2013. This ratio measures the efficiency
of the company in managing its trade debtors to generate revenue. A lower ratio
may indicate over extension and collection problems. Conversely, a higher ratio
may indicate an overtly stringent policy. In this case, the company's A/R ratio
in 2013 is 6.79. This would suggest the company had good
performance in the management of its debt collections.
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 is 52 days at the end of 2013. This
represents a negative trend. And Inventory turnover is 7.08 times in year 2013.
The company's Total Asset Turnover is calculated as 1.18 times in 2013.
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.61.87 |
|
|
1 |
Rs.94.07 |
|
Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.