MIRA INFORM REPORT
|
Report No. : |
307273 |
|
Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
BERLI
DYNAPLAST CO., LTD. |
|
|
|
|
Formerly Known As : |
BERLI PROSPACK CO., LTD |
|
|
|
|
Registered Office : |
12Ath Floor,
Berli Jucker House,
99 Soi Rubia,
Sukhumvit 42 Road,
Prakanong, Klongtoey, Bangkok
10110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
11.02.1971 |
|
|
|
|
Com. Reg. No.: |
0105514000965 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
engaged in
Manufacturing,
Distributing and Exporting
various kinds of
Plastic bottles
Packaging for variety
of industries, such
as Consumer Goods,
Dairy, Foods, Pharmaceuticals, Lubricant
Oils, Petrochemicals & Chemicals
Industries. |
|
|
|
|
No of Employees : |
160 (Approximately) |
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
name
BERLI DYNAPLAST
CO., LTD.
[FORMER :
BERLI PROSPACK CO.,
LTD.]
SUMMARY
BUSINESS
ADDRESS : 12A th FLOOR,
BERLI JUCKER HOUSE,
99 SOI
RUBIA, SUKHUMVIT 42
ROAD,
PRAKANONG, KLONGTOEY,
BANGKOK 10110,
THAILAND
TELEPHONE : [66] 2381-5088
FAX :
[66] 2381-5788
E-MAIL
ADDRESS : bdd@berlidynaplast.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1971
REGISTRATION
NO. : 0105514000965
TAX
ID NO. : 3101068887
CAPITAL REGISTERED : BHT. 303,933,400
CAPITAL PAID-UP : BHT.
303,933,400
SHAREHOLDER’S PROPORTION : FOREIGN
: 51.00%
THAI
: 49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
CHUTCHAI TECHACHAIANUN, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 160
(Approximately)
LINES
OF BUSINESS : PLASTIC BOTTLES 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 established
on February 11, 1971
as a private
limited company under
the originally registered
name “Anglo-Thai Industries
Limited” by Thai
groups. On March 1, 1993,
its registered name
was changed to “Inchcape Industries
Ltd.”. On July
1, 1997, its
name was changed
again to “Berli
Prospack Co., Ltd.”,
and was finally
changed to BERLI
DYNAPLAST CO., LTD., on July 1,
2004. Its business
objective is to manufacture
and distribute various
kinds of plastic
bottles packaging products to
both local and
overseas market. It
currently employs approximately
160 staff.
At
present, the subject
is a joint
venture between PT.
Dynaplast of Indonesia
and Berli Jucker
Public Company Limited
of Thailand, with
holding around 51%
and 49% of
the subject’s shares
respectively.
The
subject’s registered address
is 12Ath Floor, Berli
Jucker House, 99 Soi Rubia,
Sukhumvit 42 Road,
Prakanong, Klongtoey, Bangkok
10110, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Aswin Techajareonvikul |
[x] |
Thai |
39 |
|
Mr. Thirasakdi
Nathikanchanalab |
[x] |
Thai |
68 |
|
Mr. Chutchai Techachaianun |
[x] |
Thai |
62 |
|
Mrs. Vipada Duangratana |
|
Thai |
60 |
|
Mr. Tirtadjaya Himbali |
[-] |
Indonesian |
60 |
|
Mr. Tommy Aritanto |
[-] |
Indonesian |
47 |
|
Mr. Tjokro Gunawan |
[-] |
Indonesian |
63 |
AUTHORIZED
PERSON
Any of the
mentioned directors [x] can
jointly sign with
anyone of the
mentioned directors [-] on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Chutchai Techachaianun is
the Managing Director.
He is Thai
nationality with the
age of 62
years old.
Mr. Samitti Tanthong is
the Business Development
Manager.
He is Thai
nationality.
Mrs. Paradee Jarucharoenlap is
the Commercial Director.
She is Thai
nationality.
BUSINESS
OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting various kinds
of plastic bottles packaging
for variety of
industries, such as
consumer goods, dairy,
foods, pharmaceuticals, lubricant
oils, petrochemicals & chemicals
industries.
PURCHASE
Raw materials, mainly
PVC resin and
chemical are purchased
from suppliers both
in domestic and
overseas in Germany,
Japan, Taiwan and
India.
MAJOR
SUPPLIER
IRPC
Public Company Limited : Thailand
SALES
90% of the
products is sold
locally to manufacturers
and end-users, the
remaining 10% is
exported to Malaysia,
Vietnam and Indonesia.
MAJOR CUSTOMER
Unilever Thai Trading
Ltd. : Thailand
Friesland Foods Foremost
[Thailand] Public Company
Limited : Thailand
Procter & Gamble Trading [Thailand]
Ltd. : Thailand
Saha Patthanapibul Public
Company Limited : Thailand
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
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
T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
The
Siam Commercial Bank
Public Co., Ltd.
EMPLOYMENT
The
subject currently employs
approximately 160 staff.
LOCATION
DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
Factory
and warehouse is
located at 166
Moo 3, T.
Nikomsangtoneng, A. Muang,
Lopburi
15000. Tel. : [66] 36 652-915-6,
36 652-623-4, Fax. : [66] 36 652-570.
COMMENT
The
subject has been
firmly established for
over 40 years
as a manufacturer,
distributor and exporter
of plastic bottles packaging products
to various industries.
Its operating performance
in 2013 was
satisfactory with an
increase in both
sales revenues and
net profit comparing
to the previous
year. Generally, its
business is solid
and always remains
profitable.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 20,000,000
divided into 200,000
shares of Bht.
100 each with
fully paid.
The
capital was increased
later as follows:
Bht. 30,000,000
on November 9,
1995
Bht. 60,000,000
on March 4,
1996
Bht. 70,000,000
on April 17,
1997
Bht. 140,000,000
on July 1,
1997
Bht. 160,000,000
on May 6,
1998
Bht. 170,000,000
on September 30,
1998
Bht. 303,933,400
on July 27,
2000
The
latest registered capital
was increased to
Bht. 303,933,400 divided
into 3,039,334 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
March 18, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
PT. Dynaplast Nationality: Indonesian Address : Dynaplast Tower 9-10th
Floor. Jl. M.H. Thamrin No. 1. Lippo
Karawaci, Tangerang, Jawa Barat, Indonesia |
1,550,059 |
51.00 |
|
Berli Jucker Public
Company Limited Nationality: Thai Address : 99
Soi Rubia, Sukhumvit
42 Road,
Prakanong, Klongtoey, Bangkok |
1,489,270 |
49.00 |
|
Mr. Tirtadjaya Himbali Nationality: Indonesian Address : Jakarta,
Indonesia |
1 |
- |
|
BJC Marketing Co.,
Ltd. Nationality: Thai Address : 99
Soi Rubia, Sukhumvit
42 Road,
Prakanong, Klongtoey, Bangkok |
1 |
- |
|
BJC Healthcare Co.,
Ltd. Nationality: Thai Address : 99
Soi Rubia, Sukhumvit
42 Road,
Prakanong, Klongtoey, Bangkok
|
1 |
- |
|
BJC Industrial and
Trading Co., Ltd. Nationality: Thai Address : 99
Soi Rubia, Sukhumvit
42 Road, Prakanong, Klongtoey,
Bangkok |
1 |
- |
|
|
|
|
|
Birli Jucker
Foods Co., Ltd. Nationality: Thai Address : 99
Soi Rubia, Sukhumvit
42 Road,
Prakanong, Klongtoey, Bangkok |
1 |
- |
Total Shareholders : 7
Share Structure [as
at March 18,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
1,489,274 |
49.00 |
|
Foreign - Indonesian |
2 |
1,550,060 |
51.00 |
|
Total |
7 |
3,039,334 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Wathu Kayankarnnaree No.
5423
BALANCE
SHEET [BAHT]
The latest financial figures published
as at December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
277,061 |
387,146 |
67,804 |
|
Trade Accounts &
Other Receivable |
323,448,225 |
287,275,851 |
243,699,612 |
|
Inventories |
118,128,689 |
111,257,436 |
114,956,343 |
|
Experimental Value for Customers |
136,315,604 |
125,669,073 |
108,527,534 |
|
Other Current Assets
|
3,554,703 |
2,645,713 |
1,682,887 |
|
|
|
|
|
|
Total Current Assets
|
581,724,282 |
527,235,219 |
468,934,180 |
|
Advances for Purchase of Machinery
|
800,000 |
800,000 |
1,890,000 |
|
Fixed Assets |
829,044,172 |
783,159,760 |
827,277,649 |
|
Other Non - current Assets
|
889,400 |
1,174,435 |
1,178,134 |
|
Total Assets |
1,412,457,854 |
1,312,369,414 |
1,299,279,963 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
161,732,888 |
200,119,900 |
216,417,868 |
|
Trade Accounts & Other
Payable |
248,388,545 |
214,261,305 |
188,339,890 |
|
Current Portion of
Financial Lease Contract Liabilities |
955,919 |
1,590,206 |
1,601,035 |
|
Current Portion of
Long-term Loans |
66,666,667 |
83,333,333 |
83,333,333 |
|
Accrued Income Tax |
1,986,498 |
1,957,055 |
- |
|
Advance Receipt from
Production Machinery |
103,942,200 |
70,427,323 |
- |
|
Other Current Liabilities |
1,939,951 |
2,693,084 |
40,280,466 |
|
|
|
|
|
|
Total Current Liabilities |
585,612,668 |
574,382,206 |
529,972,592 |
|
Financial Lease Contract Liabilities, Net of Current
Portion |
- |
955,919 |
2,546,125 |
|
Long-term Loan, Net of Current Portion |
175,000,000 |
141,666,667 |
225,000,000 |
|
Employee Benefits Obligation |
34,302,135 |
25,889,853 |
18,915,164 |
|
Total Liabilities |
794,914,803 |
742,894,645 |
776,433,881 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 3,039,334 shares |
303,933,400 |
303,933,400 |
303,933,400 |
|
|
|
|
|
|
Capital Paid |
303,933,400 |
303,933,400 |
303,933,400 |
|
Premium on Share Capital |
14,000,000 |
14,000,000 |
14,000,000 |
|
Retained Earnings: Appropriated for Statutory
Reserve |
30,393,340 |
30,393,340 |
30,393,340 |
|
Unappropriated |
269,216,311 |
221,148,029 |
174,519,342 |
|
Total Shareholders' Equity |
617,543,051 |
569,474,769 |
522,846,082 |
|
Total Liabilities &
Shareholders' Equity |
1,412,457,854 |
1,312,369,414 |
1,299,279,963 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
1,382,917,931 |
1,292,114,973 |
1,141,428,538 |
|
Other Income |
8,840,914 |
12,494,376 |
19,771,537 |
|
Total Revenues |
1,391,758,845 |
1,304,609,349 |
1,161,200,075 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,175,528,471 |
1,115,742,629 |
1,005,871,927 |
|
Selling Expenses |
34,168,442 |
29,644,483 |
34,172,601 |
|
Administrative Expenses |
84,028,826 |
74,107,859 |
74,261,496 |
|
Total Expenses |
1,293,725,739 |
1,219,494,971 |
1,114,306,024 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
98,033,106 |
85,114,378 |
46,894,051 |
|
Financial Cost |
[15,181,849] |
[19,054,576] |
[18,301,055] |
|
Profit / [Loss] before Income
Tax |
82,851,257 |
66,059,802 |
28,592,996 |
|
Income Tax |
[4,782,975] |
[5,431,115] |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
78,068,282 |
60,628,687 |
28,592,996 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.99 |
0.92 |
0.88 |
|
QUICK RATIO |
TIMES |
0.55 |
0.50 |
0.46 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.67 |
1.65 |
1.38 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.98 |
0.98 |
0.88 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
36.68 |
36.40 |
41.71 |
|
INVENTORY TURNOVER |
TIMES |
9.95 |
10.03 |
8.75 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
85.37 |
81.15 |
77.93 |
|
RECEIVABLES TURNOVER |
TIMES |
4.28 |
4.50 |
4.68 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
77.12 |
70.09 |
68.34 |
|
CASH CONVERSION CYCLE |
DAYS |
44.92 |
47.45 |
51.30 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
85.00 |
86.35 |
88.12 |
|
SELLING & ADMINISTRATION |
% |
8.55 |
8.03 |
9.50 |
|
INTEREST |
% |
1.10 |
1.47 |
1.60 |
|
GROSS PROFIT MARGIN |
% |
15.64 |
14.62 |
13.61 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.09 |
6.59 |
4.11 |
|
NET PROFIT MARGIN |
% |
5.65 |
4.69 |
2.51 |
|
RETURN ON EQUITY |
% |
12.64 |
10.65 |
5.47 |
|
RETURN ON ASSET |
% |
5.53 |
4.62 |
2.20 |
|
EARNING PER SHARE |
BAHT |
25.69 |
19.95 |
9.41 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.56 |
0.57 |
0.60 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.29 |
1.30 |
1.49 |
|
TIME INTEREST EARNED |
TIMES |
6.46 |
4.47 |
2.56 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
7.03 |
13.20 |
|
|
OPERATING PROFIT |
% |
15.18 |
81.50 |
|
|
NET PROFIT |
% |
28.76 |
112.04 |
|
|
FIXED ASSETS |
% |
5.86 |
(5.33) |
|
|
TOTAL ASSETS |
% |
7.63 |
1.01 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 7.03%. Turnover has increased from THB
1,292,114,973.00 in 2012 to THB 1,382,917,931.00 in 2013. While net profit has
increased from THB 60,628,687.00 in 2012 to THB 78,068,282.00 in 2013. And
total assets has increased from THB 1,312,369,414.00 in 2012 to THB
1,412,457,854.00 in 2013.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
15.64 |
Deteriorated |
Industrial Average |
34.30 |
|
Net Profit Margin |
5.65 |
Impressive |
Industrial Average |
2.75 |
|
Return on Assets |
5.53 |
Impressive |
Industrial Average |
3.42 |
|
Return on Equity |
12.64 |
Impressive |
Industrial Average |
8.32 |
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 15.64%. 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. Net Profit Margin ratio is 5.65%,
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
5.53%, 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.
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 12.64%, 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 |
0.99 |
Risky |
Industrial Average |
1.08 |
|
Quick Ratio |
0.55 |
|
|
|
|
Cash Conversion Cycle |
44.92 |
|
|
|
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 0.99 times in 2013, increase from 0.92 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 0.55 times in 2013,
increase from 0.5 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 45 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Stable
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.56 |
Impressive |
Industrial Average |
0.58 |
|
Debt to Equity Ratio |
1.29 |
Acceptable |
Industrial Average |
1.39 |
|
Times Interest Earned |
6.46 |
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 6.46 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 0.56 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.67 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.98 |
Satisfactory |
Industrial Average |
1.25 |
|
Inventory Conversion Period |
36.68 |
|
|
|
|
Inventory Turnover |
9.95 |
Impressive |
Industrial Average |
5.98 |
|
Receivables Conversion Period |
85.37 |
|
|
|
|
Receivables Turnover |
4.28 |
Satisfactory |
Industrial Average |
4.36 |
|
Payables Conversion Period |
77.12 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.28 and 4.50 in
2013 and 2012 respectively. 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
decreased from 2012. This would suggest the company had deteriorated 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 has increased from 36 days at the end of 2012 to
37 days at the end of 2013. This represents a negative trend. And Inventory
turnover has decreased from 10.03 times in year 2012 to 9.95 times in year
2013.
The company's Total Asset Turnover is calculated as 0.98 times and 0.98
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.62.15 |
|
UK Pound |
1 |
Rs.94.72 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.