MIRA INFORM REPORT
|
Report No. : |
308941 |
|
Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
BEIERSDORF [THAILAND] CO., LTD. |
|
|
|
|
Registered Office : |
6th-7th
Floor, Sathorn Square
Building, North Sathorn Road,
Silom, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
07.07.1972 |
|
|
|
|
Com. Reg. No.: |
0105515004336 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in manufacturing, importing
and marketing wide
range of consumer
goods, mainly as
personal care products.
|
|
|
|
|
No. of Employees : |
400 |
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 : |
Good |
|
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
BEIERSDORF [THAILAND] CO., LTD.
SUMMARY
BUSINESS ADDRESS : 6th-7th FLOOR,
SATHORN SQUARE BUILDING,
NORTH
SATHORN ROAD, SILOM,
BANGRAK,
BANGKOK 10500, THAILAND
TELEPHONE : [66] 2665-7999
FAX : [66] 2233-3415
E-MAIL ADDRESS : info@beiersdorf.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1972
REGISTRATION NO. : 0105515004336
TAX ID NO. : 3101069068
CAPITAL REGISTERED : BHT.
100,000,000
CAPITAL PAID-UP : BHT.
100,000,000
SHAREHOLDER’S PROPORTION : GERMAN :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MRS.
SUWANNEE SRITONYACHOTE, THAI
MANAGING DIRECTOR
NO. OF STAFF : 400
LINES OF BUSINESS : CONSUMER PRODUCTS
MANUFACTURER, EXPORTER
& DISTRIBUTER
|
|
|
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 July
7, 1972 as
a private limited
company originally by
Thai group, Narongdej
family under the
registered name INTANIN
CO., LTD.
On January 23, 1981,
subject joined with
Thai Hygienic Products
Co., Ltd. and Beiersdorf AG., Germany to
distribute “NIVEA” personal
care products, then its
name was changed
to “B.D.F. Intanin
Co., Ltd.”.
The name was changed later to “Beiersdorf Intanin
Co., Ltd.” and “Beiersdorf [Thailand]
Co., Ltd.” on August
14, 1990 and May
20, 1993, respectively.
Presently the subject
is a wholly
owned subsidiary of
Beiersdorf Aktien Gesellschaft,
Germany, to manufacture and
distribute wide range
of personal cares
and plaster products
for both domestic
and international markets.
It is the
second largest manufacturing
base in Asia,
in the Beiersdorf
Group of Companies.
Subject employs a skilled
workforce of approximately
400 people.
In this region the
company has administrative and production
facilities, providing support
and supervision for
production and inspection
at affiliates throughout
the Indo-Chinese Peninsula. Its
wide array of
products have been
exported to over 44 countries around the globe.
The subject received many
prestigious awards from
various renowned agencies
such as the standard ISO 9002
certificate for manufacturing
and marketing of
the products by
RWTUV, “Outstanding Factory” from The Ministry of Industry, “Good
Manufacturing Practice (GMP)” from
the Ministry of
Public Health.
The subject’s registered
address was initially
located at 12th, 17th Floor,
Sathorn Thani Building
1, 90 North
Sathorn Rd., Silom, Bangrak,
Bangkok 10500.
In 2013, its
registered address was
relocated to 6th-7th Floor,
Sathorn Square Building,
98 North Sathorn Road, Silom, Bangrak, Bangkok 10500, and this is
the company’s current operation
address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Veit Ostmeier |
|
Dutch |
43 |
|
Mrs. Suwannee Sritonyachote |
|
Thai |
52 |
|
Mrs. Melanie Schrewe |
|
German |
46 |
|
Mr. Lee, Hui-Chen |
|
Chinese |
53 |
|
Mr. Ralph Dieter Gusko |
|
Dutch |
54 |
AUTHORIZED PERSON
Two of the
above directors can
jointly sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mrs. Suwannee Sritonyachote
is the Managing
Director.
She is Thai
nationality with the
age of 52 years
old.
Mr. Veit Ostmeier
is the Deputy
Managing Director.
He is Dutch
nationality with the
age of 43 years
old.
Mr. Thomas Rupprecht is
the Factory Manager.
He is German
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, importing
and marketing wide
range of consumer
goods, mainly as
personal care products.
Its products and
brands are as
follows:
Product Brand
Body care “NIVEA”
Deodorant “NIVEA”
Face care “NIVEA”
Lip care “NIVEA”
Products for men “NIVEA”
Body express moisture
repair cream “NIVEA”
Sun protect products “NIVEA”
Medical skin care
products “EUCERIN”
Dermopurifyer cleaner
Dermopurifyer toner/ scrub
Dermopurifyer night care
- Skin care
products for men
- Q10 products
[day/ night/ eye]
- PH5 shower
oil
- PH5 lotion
- PH5 shampoo
- PH5 skin
repair
- Lip active
- Sooting face
cream/ lotion
- White therapy
gentle cleansing foam/ gel
- White therapy
day/ night cream/ lotion
- White therapy
eye cream
Premium Skin care
products “LA PRAIRIE”
PRODUCTION CAPACITY
31,000 tons per
annum
PURCHASE
80% of raw material
mainly silicon and
chemical are imported
from Germany, Belgium, Republic
of China, Japan,
Australia, Singapore, Switzerland
and Malaysia, the
remaining 20% is
purchased locally.
MAJOR SUPPLIERS
Brenntag Ingredient [Thailand]
Public Company Limited : Thailand
Beiersdorf AG.
: Germany
Beiersdorf [Malaysia] Sdn. Bhd. : Malaysia
DISTRIBUTION
80% of its products
is exported directly
to Malaysia, Singapore,
Hong Kong, Myanmar,
Sri Lanka, Indonesia, Australia,
Canada, Japan, India,
Philippines, Korea, Vietnam,
Laos, Germany, France,
United Kingdom, South
Africa, New Zealand
and etc., the
remaining 20% is
distributed locally through
DKSH [Thailand] Co., Ltd., Thailand.
PARENT COMPANY
Beiersdorf Aktien Gesellschaft
Address: Unnastraße 48, D-2000
Hamburg 20, Germany
SUBSIDIARIES AND
AFFILIATED COMPANIES
The subject is
not found to
have any subsidiaries
or affiliated companies
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
L/C at sight
and T/T.
Exports are against
T/T.
BUSINESS TRANSACTION
In term of
sales, the products are
sold by cash and
credit with the maximum credit
given at 30-60
days. Subject is
not found to
have problem on
its account receivable.
BANKING
Kasikornbank Public Co.,
Ltd.
[Head Office : 1 Kasikorn
Lane, Rajburana Rd.,
Rajburana, Bangkok 10140]
Bangkok Bank Public
Co., Ltd.
[Head Office : 393 Silom
Rd., Silom, Bangrak,
Bangkok 10500]
EMPLOYMENT
The subject employs
approximately 400 staff.
[office staff and
factory workers]
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in commercial
area.
Factory and warehouse
are located at
163 Moo 17, Bangplee Industrial
Estate, Soi 3,
Bangna-Trad Rd., Bangsaothong,
Samutprakarn 10540.
Tel : [66] 2705-1490-5,
Fax : [66] 2315-1046.
COMMENT
With the long term experience of 40 years, its products are sold in 170 countries,
NIVEA products have been trusted around
the world. Regarding quality as
a dynamic process of continuous
improvement in all
activities, the products have
gained tremendous success.
In Thailand the products have been
well-accepted by consumers since
NIVEA products has been launched in Thai’s market in 1982. As well
the EUCERIN medical skin-care line, has
more than a
70% share of the niche market. The
products has rapidly expanded in the market. Currently, the
company’s skincare products are
sold in
outlets nationwide. The CPD team
has also worked closely with its regional team to provide skincare products
that closely match the needs of Thai
consumers.
The skin care market is growing strong. Thailand’s market for skin-care
products are worth around ten
billion baht a year.
FINANCIAL INFORMATION
The capital was
registered at Bht.
4,500,000 divided into
9,000 shares of Bht. 500
each.
The capital was
increased later as
followings:
Bht. 25,000,000
on January 23,
1981
Bht. 30,000,000
on August 29,
1985
Bht. 60,000,000
on January 5,
1989
Bht. 100,000,000 on
September 6, 1992
The latest registered
capital was increased
to Bht. 100,000,000 divided into 200,000 shares
of Bht. 500
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 21,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Beiersdorf Aktien Gesellschaft Nationality: German Address : Unnastraße 48, D-2000
Hamburg 20, Germany |
199,998 |
100.00 |
|
Mr. Kasem Narongdej Nationality: Thai Address : 103
Ramkhamhaeng 24 Rd.,
Huaykwang,
Bangkok 10310 |
1 |
- |
|
Famex
Handels-Gesellschaft mbH Nationality: German Address : Hamburg, Germany |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 21,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
1 |
- |
|
Foreign - German |
2 |
199,999 |
100.00 |
|
Total |
3 |
200,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Kingkarn Chalermthai
No. 4496
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 |
97,928,489 |
647,157,535 |
900,120,482 |
|
Trade Accounts & Other Receivable |
2,865,979,752 |
2,378,905,138 |
1,811,753,833 |
|
Short-term Loan to Related Company |
- |
- |
369,485,000 |
|
Inventories |
964,791,296 |
960,799,412 |
654,017,986 |
|
Other Current Assets
|
237,064,940 |
158,227,240 |
99,583,901 |
|
|
|
|
|
|
Total Current Assets
|
4,165,764,477 |
4,145,089,325 |
3,834,961,202 |
|
Loan to Related
Company |
371,184,300 |
253,588,860 |
- |
|
Investment in Subsidiaries |
25,283,100 |
23,623,750 |
23,918,250 |
|
Fixed Assets |
816,522,640 |
665,074,697 |
639,401,610 |
|
Intangible Assets |
5,801,299 |
5,886,645 |
4,883,857 |
|
Deposit |
9,726,145 |
12,585,841 |
4,861,547 |
|
Total Assets |
5,394,281,961 |
5,105,849,118 |
4,508,026,466 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Accounts & Other
Payable |
2,927,517,140 |
3,191,047,981 |
2,325,487,027 |
|
Accrued Income Tax |
146,910,538 |
112,024,833 |
172,811,770 |
|
Other Current Liabilities |
62,989,168 |
81,483,476 |
61,327,618 |
|
|
|
|
|
|
Total Current Liabilities |
3,137,416,846 |
3,384,556,290 |
2,559,626,415 |
|
Reserve for Long-term
Employee Benefits |
58,695,909 |
38,327,278 |
32,983,827 |
|
Total Liabilities |
3,196,112,755 |
3,422,883,568 |
2,592,610,242 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 500
par value Authorized &
issued share capital 200,000
shares |
100,000,000 |
100,000,000 |
100,000,000 |
|
|
|
|
|
|
Capital Paid |
100,000,000 |
100,000,000 |
100,000,000 |
|
Retained Earning Appropriated for Statutory Reserve |
10,000,000 |
10,000,000 |
10,000,000 |
|
Unappropriated |
2,088,169,206 |
1,572,965,550 |
1,805,416,224 |
|
Total Shareholders' Equity |
2,198,169,206 |
1,682,965,550 |
1,915,416,224 |
|
Total Liabilities & Shareholders' Equity |
5,394,281,961 |
5,105,849,118 |
4,508,026,466 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
10,951,569,031 |
9,548,549,500 |
8,224,986,260 |
|
Other Income |
387,069,166 |
203,202,330 |
109,918,775 |
|
Total Revenues |
11,338,638,197 |
9,751,751,830 |
8,334,905,035 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
5,125,529,380 |
4,704,520,820 |
3,590,701,583 |
|
Selling Expenses |
4,533,283,088 |
4,031,949,855 |
3,261,197,148 |
|
Administrative Expenses |
362,793,986 |
251,950,384 |
396,835,700 |
|
Total Expenses |
10,021,606,454 |
8,988,421,059 |
7,248,734,431 |
|
|
|
|
|
|
Profit before Financial Expenses &
Income Tax |
1,317,031,743 |
763,330,771 |
1,086,170,604 |
|
Financial Expenses |
[1,483,825] |
[36,774] |
[567] |
|
|
|
|
|
|
Profit before Income Tax |
1,315,547,918 |
763,293,997 |
1,086,170,037 |
|
Income Tax |
[264,350,262] |
[227,298,671] |
[317,724,779] |
|
Net Profit / [Loss] |
1,051,197,656 |
535,995,326 |
768,445,258 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.33 |
1.22 |
1.50 |
|
QUICK RATIO |
TIMES |
0.94 |
0.89 |
1.20 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
13.41 |
14.36 |
12.86 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.03 |
1.87 |
1.82 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
68.70 |
74.54 |
66.48 |
|
INVENTORY TURNOVER |
TIMES |
5.31 |
4.90 |
5.49 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
95.52 |
90.94 |
80.40 |
|
RECEIVABLES TURNOVER |
TIMES |
3.82 |
4.01 |
4.54 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
208.47 |
247.58 |
236.39 |
|
CASH CONVERSION CYCLE |
DAYS |
(44.25) |
(82.10) |
(89.51) |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
46.80 |
49.27 |
43.66 |
|
SELLING & ADMINISTRATION |
% |
44.71 |
44.86 |
44.47 |
|
INTEREST |
% |
0.01 |
0.00 |
0.00 |
|
GROSS PROFIT MARGIN |
% |
56.73 |
52.86 |
57.68 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
12.03 |
7.99 |
13.21 |
|
NET PROFIT MARGIN |
% |
9.60 |
5.61 |
9.34 |
|
RETURN ON EQUITY |
% |
47.82 |
31.85 |
40.12 |
|
RETURN ON ASSET |
% |
19.49 |
10.50 |
17.05 |
|
EARNING PER SHARE |
BAHT |
5,255.99 |
2,679.98 |
3,842.23 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.59 |
0.67 |
0.58 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.45 |
2.03 |
1.35 |
|
TIME INTEREST EARNED |
TIMES |
887.59 |
20,757.35 |
1,915,644.80 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
14.69 |
16.09 |
|
|
OPERATING PROFIT |
% |
72.54 |
(29.72) |
|
|
NET PROFIT |
% |
96.12 |
(30.25) |
|
|
FIXED ASSETS |
% |
22.77 |
4.02 |
|
|
TOTAL ASSETS |
% |
5.65 |
13.26 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 14.69%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
56.73 |
Acceptable |
Industrial Average |
112.67 |
|
Net Profit Margin |
9.60 |
Impressive |
Industrial Average |
6.47 |
|
Return on Assets |
19.49 |
Impressive |
Industrial Average |
8.76 |
|
Return on Equity |
47.82 |
Impressive |
Industrial Average |
14.67 |
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 56.73%. 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. Which the high ratio in 9.6%,
higher figure when compared with those of its average competitors in the same
industry, indicated that business was an efficient operators 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
19.49%, 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 47.82%, 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 :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.33 |
Satisfactory |
Industrial Average |
1.75 |
|
Quick Ratio |
0.94 |
|
|
|
|
Cash Conversion Cycle |
(44.25) |
|
|
|
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 1.33 times in 2013, decrease from 1.22 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 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 0.94 times in 2013,
decrease from 0.89 times, by excluding inventory, the company may have problems
meeting current liabilities.
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 Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.59 |
Acceptable |
Industrial Average |
0.39 |
|
Debt to Equity Ratio |
1.45 |
Risky |
Industrial Average |
0.64 |
|
Times Interest Earned |
887.59 |
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 887.6 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 0.59 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 |
13.41 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
2.03 |
Impressive |
Industrial Average |
1.36 |
|
Inventory Conversion Period |
68.70 |
|
|
|
|
Inventory Turnover |
5.31 |
Satisfactory |
Industrial Average |
6.15 |
|
Receivables Conversion Period |
95.52 |
|
|
|
|
Receivables Turnover |
3.82 |
Impressive |
Industrial Average |
2.60 |
|
Payables Conversion Period |
208.47 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.82 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 75 days at the
end of 2012 to 69 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 4.9 times in year 2012 to 5.31 times
in year 2013.
The company's Total Asset Turnover is calculated as 2.03 times and 1.87
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 Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.05 |
|
|
1 |
Rs.96.03 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.