MIRA INFORM REPORT
|
Report No. : |
301585 |
|
Report Date : |
07.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
OTC DAIHEN ASIA CO., LTD. |
|
|
|
|
Registered Office : |
60/86 Moo 19, Navanakorn Industrial Phase 3, T. Klongnueng, A. Klongluang Pathumthani 12120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
05.04.1989 |
|
|
|
|
Com. Reg. No.: |
0105532031281 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturing, Distributing and Exporting of Welding Machines and Related Equipment, Including Manipulator, Torch, Robot Cell, Consumable Parts. |
|
|
|
|
No. of Employee : |
475 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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
OTC DAIHEN ASIA
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 60/86 MOO 19,
NAVANAKORN INDUSTRIAL ESTATE,
PHASE 3, T.
KLONGNUENG, A. KLONGLUANG,
PATHUMTHANI 12120,
THAILAND
TELEPHONE : [66] 2529-2130
FAX : [66] 2529-2132
E-MAIL ADDRESS : otcda@otc.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1989
REGISTRATION NO. : 0105532031281
TAX ID NO. : 3101611731
CAPITAL REGISTERED : BHT.
80,000,000
CAPITAL PAID-UP : BHT.
80,000,000
SHAREHOLDER’S PROPORTION : JAPANESE :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
KOSAKU YAMAGUCHI, JAPANESE
PRESIDENT
NO. OF STAFF : 475
LINES OF BUSINESS : WELDING MACHINES
AND EQUIPMENT
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH FAIR PERFORMANCE
HISTORY
The subject was
established on April
5, 1989 as
a private limited
company under the
originally registered name “Daihen
[Thailand] Co., Ltd.”,
by Japanese group.
On October 1,
2001, its registered
name was changed
to OTC DAIHEN
ASIA CO., LTD.
Its business objective
is to manufacture
and supply welding
machines and equipment
to both domestic and
international markets. It
currently employs 475
staff.
The subject is
a wholly owned
subsidiary of Daihen
Corporation of Japan.
The subject’s registered
address is 60/86 Moo 19,
Navanakorn Industrial
Estate, Phase 3, T. Klongnueng, A. Klongluang, Pathumthani
12120, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Kosaku Yamaguchi |
[x] |
Japanese |
50 |
|
Mr. Naotake Arioka |
[x] |
Japanese |
49 |
|
Mr. Shigekazu Koshino |
|
Japanese |
56 |
|
Mr. Yasutada Hashimoto |
|
Japanese |
51 |
|
Mrs. Panittha Chantarakasem |
|
Thai |
55 |
AUTHORIZED
PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Kosaku Yamaguchi is
the President.
He is Japanese
nationality with the
age of 50
years old.
Mr. Naotake Arioka is the Vice
President [Sales].
He is Japanese
nationality with the
age of 49
years old.
Mr. Tomohiko Maeda is
the General Manager.
He is Japanese
nationality.
BUSINESS
OPERATIONS
The subject is
engaged in manufacturing, distributing
and exporting of
welding machines and
related equipment, including
manipulator, torch, robot
cell, consumable parts
and etc., under
its own brand
“OTC”.
PURCHASE
Raw materials and
spare parts are purchased from
suppliers both domestic
and overseas in Japan
and Republic of
China.
MAJOR
SUPPLIER
Daihen Corporation : Japan
SALES
Its products are
sold to customers
both locally and
overseas in Japan,
U.S.A., Taiwan, Malaysia,
Indonesia, Korea, Republic
of China, India,
Vietnam, Australia, New
Zealand, Pakistan, Singapore
and the country
in Europe.
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
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bank of Tokyo- Mitsubishi UFJ
Ltd.
[Bangkok Office, 54
North Sathorn Road,
Silom, Bangrak, Bangkok]
EMPLOYMENT
The subject currently
employs 475 office staff
and factory workers.
LOCATION DETAILS
The premise is owned for
administrative office and
factory at the
heading address. Premise
is located in
industrial area.
Branches :
Bangkok Sales Office :
16th Floor, Sorachai
Building, 23/43 Sukhumvit
63 Road,
Klongtonnua, Wattana, Bangkok
10110.
Tel. : [66] 2714-3201-3,
Fax. : [66] 2714-3204
Rayong Sales Office :
500/141 Hemaraj Eastern
Seaboard Industrial Estate,
Moo 3,
T. Tasit, A. Pluakdaeng, Rayong
21140.
Tel. : [66] 38
964-182, Fax. : [66] 38 964-183
COMMENT
Through the year 2014, the company has been sticking to its policy of sustainable
growth through developing products which suit market needs. Developing new
markets and making new investments based on this principle allowed
the company to maintain continual
expansion all along. This also makes it
possible to provide persistently satisfactory returns.
FINANCIAL
INFORMATION
The capital was registered
at Bht. 60,000,000
divided into 60,000
shares of Bht.
1,000 each with
fully paid.
On July 11,
2001, the registered
capital was increased
to Bht. 80,000,000
divided into 80,000
shares of Bht. 1,000
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
[as at April
30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Daihen Corporation Nationality: Japanese Address:2-1-11 Tagawa, Yodogawa, Osaka 532-8512 Japan |
79,998 |
100.00 |
|
Mr. Masanobu Uchida Nationality: Japanese Address : 60/86
Moo 19, Navanakorn
Industrial
Estate, Phase 3,
T. Klongnueng, A.
Klongluang, Pathumthani |
1 |
- |
|
Mr. Naotake Arioka Nationality: Japanese Address : 23/43
Sukhumvit 63 Road,
Klongtonnua, Wattana, Bangkok |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - Japanese |
3 |
80,000 |
100.00 |
|
Total |
3 |
80,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mrs. Kesaree Narongdej No.
0076
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 |
27,337,848.03 |
259,905,808.78 |
443,663,767.66 |
|
Trade Accounts Receivable
|
|
|
|
|
- Related company |
159,614,036.82 |
56,127,443.95 |
71,601,583.22 |
|
- Other company |
225,592,359.73 |
225,797,021.89 |
124,542,028.23 |
|
Other Receivable |
|
|
|
|
- Related company |
- |
360,000.00 |
390,630.00 |
|
- Other company |
30,387,425.14 |
33,047.96 |
2,460,612.26 |
|
- Prepaid expenses |
7,963,576.35 |
2,725,422.05 |
6,091,554.78 |
|
Deferred Compensation |
- |
- |
60,000,000.00 |
|
Inventories |
582,275,188.78 |
731,752,338.17 |
412,478,845.65 |
|
Other Current Assets
|
|
|
|
|
- Refundable tax |
45,452,225.57 |
48,805,280.08 |
29,144,916.33 |
|
- Others |
2,463,182.02 |
4,385,653.22 |
6,474,562.60 |
|
|
|
|
|
|
Total Current Assets
|
1,081,085,842.44 |
1,329,892,016.10 |
1,156,848,500.73 |
|
|
|
|
|
|
Long-term Investment
|
11,227,650.00 |
11,227,650.00 |
8,071,000.00 |
|
Fixed Assets |
450,812,207.46 |
511,761,498.09 |
202,743,692.62 |
|
Intangible Assets |
1,024,064.06 |
946,998.65 |
1,227,354.55 |
|
Other Non - current Assets |
5,713,174.40 |
4,951,034.40 |
4,808,913.40 |
|
Total Assets |
1,549,862,938.36 |
1,858,779,197.24 |
1,373,699,461.30 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
111,915,798.23 |
206,415.48 |
2,197,891.30 |
|
Trade Accounts Payable
|
|
|
|
|
- Related company |
738,151,421.62 |
1,029,910,226.51 |
797,503,654.56 |
|
- Other company |
5,858,153.70 |
9,359,765.00 |
10,281,630.88 |
|
Short-term Loan-Related Company
|
23,165,347.95 |
- |
- |
|
Other Payable |
|
|
|
|
- Related company |
1,193,876.72 |
143,413,934.89 |
- |
|
- Other company |
1,861,936.86 |
6,433,668.96 |
2,706,403.12 |
|
Accrued Expenses |
|
|
|
|
- Related company |
12,838,406.90 |
21,740,616.10 |
27,877,565.25 |
|
- Other company |
12,864,155.88 |
17,229,274.53 |
24,996,311.92 |
|
Cash Receipts for Goods |
80,627,079.37 |
4,920,914.32 |
5,306,829.82 |
|
Accrued Other Expenses |
5,077,528.87 |
4,419,541.36 |
- |
|
Advance Receipts-Related
Company |
233,569.67 |
18,778,956.66 |
- |
|
Accrued Income Tax |
- |
4,950,705.19 |
- |
|
Other Current Liabilities |
7,632,729.28 |
7,896,908.52 |
8,982,954.17 |
|
|
|
|
|
|
Total Current Liabilities |
1,001,420,005.05 |
1,269,260,927.52 |
879,853,241.02 |
|
|
|
|
|
|
Employee Benefits Obligation |
14,738,313.00 |
12,742,127.00 |
6,914,896.59 |
|
Total Liabilities |
1,016,158,318.05 |
1,282,003,054.52 |
886,768,137.61 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 80,000 shares |
80,000,000.00 |
80,000,000.00 |
80,000,000.00 |
|
|
|
|
|
|
Capital Paid |
80,000,000.00 |
80,000,000.00 |
80,000,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
8,000,000.00 |
8,000,000.00 |
8,000,000.00 |
|
Unappropriated |
445,704,620.31 |
488,776,142.72 |
398,931,323.69 |
|
Total Shareholders' Equity |
533,704,620.31 |
576,776,142.72 |
486,931,323.69 |
|
Total Liabilities &
Shareholders' Equity |
1,549,862,938.36 |
1,858,779,197.24 |
1,373,699,461.30 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
1,490,109,908.78 |
1,577,974,299.89 |
1,413,755,588.44 |
|
Service Income |
95,380,291.41 |
16,899,917.93 |
38,421,760.32 |
|
Other Income |
|
|
|
|
Income from insurance compensation |
- |
17,019,000.00 |
- |
|
Gain on Exchange Rate |
- |
16,570,830.48 |
- |
|
Others |
31,750,689.66 |
45,534,788.77 |
42,182,948.61 |
|
Total Revenues |
1,617,240,889.85 |
1,673,998,837.07 |
1,494,360,297.37 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,320,170,741.88 |
1,299,125,555.99 |
1,182,780,603.15 |
|
Cost of Service |
69,548,950.28 |
13,393,169.32 |
30,474,312.76 |
|
Selling Expenses |
160,117,535.16 |
175,753,022.48 |
155,815,245.59 |
|
Administrative Expenses |
54,418,988.07 |
89,735,239.95 |
93,970,631.94 |
|
Other Expenses |
|
|
|
|
Loss on exchange rate |
53,647,807.87 |
- |
22,634,596.34 |
|
Loss on
flood |
- |
- |
97,387,331.11 |
|
Total Expenses |
1,657,904,023.26 |
1,578,006,987.74 |
1,583,062,720.89 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
[40,663,133.41] |
95,991,849.33 |
[88,702,423.52] |
|
Financial Cost |
[2,408,389.00] |
[957,722.20] |
[1,118,033.66] |
|
Profit / [Loss] before Income
Tax |
[43,071,522.41] |
95,034,127.13 |
[89,820,457.18] |
|
Income Tax |
- |
[5,189,308.10] |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
[43,071,522.41] |
89,844,819.03 |
[89,820,457.18] |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.08 |
1.05 |
1.31 |
|
QUICK RATIO |
TIMES |
0.45 |
0.43 |
0.81 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.52 |
3.12 |
7.16 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.02 |
0.86 |
1.06 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
152.93 |
203.49 |
124.09 |
|
INVENTORY TURNOVER |
TIMES |
2.39 |
1.79 |
2.94 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
51.93 |
51.68 |
31.30 |
|
RECEIVABLES TURNOVER |
TIMES |
7.03 |
7.06 |
11.66 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
1.54 |
2.60 |
3.09 |
|
CASH CONVERSION CYCLE |
DAYS |
203.33 |
252.57 |
152.30 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
87.65 |
82.30 |
83.55 |
|
SELLING & ADMINISTRATION |
% |
13.53 |
16.65 |
17.20 |
|
INTEREST |
% |
0.15 |
0.06 |
0.08 |
|
GROSS PROFIT MARGIN |
% |
14.35 |
22.67 |
19.36 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(2.56) |
6.02 |
(6.11) |
|
NET PROFIT MARGIN |
% |
(2.72) |
5.63 |
(6.19) |
|
RETURN ON EQUITY |
% |
(8.07) |
15.58 |
(18.45) |
|
RETURN ON ASSET |
% |
(2.78) |
4.83 |
(6.54) |
|
EARNING PER SHARE |
BAHT |
(538.39) |
1,123.06 |
(1,122.76) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.66 |
0.69 |
0.65 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.90 |
2.22 |
1.82 |
|
TIME INTEREST EARNED |
TIMES |
(16.88) |
100.23 |
(79.34) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(0.59) |
9.83 |
|
|
OPERATING PROFIT |
% |
(142.36) |
(208.22) |
|
|
NET PROFIT |
% |
(147.94) |
200.03 |
|
|
FIXED ASSETS |
% |
(11.91) |
152.42 |
|
|
TOTAL ASSETS |
% |
(16.62) |
35.31 |
|
ANNUAL
GROWTH : RISKY
An annual sales growth is -0.59%. Turnover has decreased from THB
PROFITABILITY : RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
14.35 |
Deteriorated |
Industrial Average |
39.05 |
|
Net Profit Margin |
(2.72) |
Deteriorated |
Industrial Average |
1.32 |
|
Return on Assets |
(2.78) |
Deteriorated |
Industrial Average |
1.56 |
|
Return on Equity |
(8.07) |
Deteriorated |
Industrial Average |
4.21 |
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 14.35%. 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 -2.72%.
When compared with the industry average, the ratio of the company was lower.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. When compared with the
industry average, it was lower, the
company's figure is -2.78%.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. When compared with the
industry average, it was lower, the company's figure is -8.07%.
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 |
1.08 |
Satisfactory |
Industrial Average |
1.30 |
|
Quick Ratio |
0.45 |
|
|
|
|
Cash Conversion Cycle |
203.33 |
|
|
|
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 1.08 times in 2013, increased from 1.05 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 0.45 times in 2013,
increased from 0.43 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 204 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.66 |
Acceptable |
Industrial Average |
0.62 |
|
Debt to Equity Ratio |
1.90 |
Risky |
Industrial Average |
1.63 |
|
Times Interest Earned |
(16.88) |
Risky |
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 -16.89 lower than 1, so the company is not generating
enough cash from EBIT to meet its
interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.66 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 Uptrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.52 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.02 |
Satisfactory |
Industrial Average |
1.19 |
|
Inventory Conversion Period |
152.93 |
|
|
|
|
Inventory Turnover |
2.39 |
Impressive |
Industrial Average |
1.57 |
|
Receivables Conversion Period |
51.93 |
|
|
|
|
Receivables Turnover |
7.03 |
Impressive |
Industrial Average |
5.13 |
|
Payables Conversion Period |
1.54 |
|
|
|
The company's Account Receivable Ratio is calculated as 7.03 and
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has decreased from 203 days at the
end of 2012 to 153 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 1.79 times in year 2012 to 2.39 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.02 times and 0.86
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.63.38 |
|
|
1 |
Rs.96.72 |
|
Euro |
1 |
Rs.75.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.