MIRA INFORM REPORT
|
Report No. : |
303554 |
|
Report Date : |
20.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
NAWA PLASTIC INDUSTRIES CO., LTD. |
|
|
|
|
Registered Office : |
1 Siam Cement
Road, Bangsue, Bangkok 10800 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
17.08.1995 |
|
|
|
|
Com. Reg. No.: |
0105538097756 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer and Distributor of vinyl construction and decorating
materials |
|
|
|
|
No. of Employee : |
420 |
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 – 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
NAWA PLASTIC
INDUSTRIES CO., LTD.
SUMMARY
BUSINESS ADDRESS : 1 SIAM CEMENT
ROAD, BANGSUE,
BANGKOK 10800,
THAILAND
TELEPHONE : [66] 2555-0333,
2555-0888
FAX : [66] 2586-5757,
2586-5331
E-MAIL
ADDRESS : nawaplastic_coco@scg.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1995
REGISTRATION NO. : 0105538097756 [Former : [1] 2124/2538]
TAX
ID NO. : 3011620250
CAPITAL REGISTERED : BHT.
426,000,000
CAPITAL PAID-UP : BHT.
426,000,000
SHAREHOLDER’S
PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
THEERAT UTTAYANANG, THAI
MANAGING DIRECTOR
NO. OF STAFF : 420
LINES OF BUSINESS : VINYL
AND PVC CONSTRUCTION
MATERIALS
MANUFACTURER AND
DISTRIBUTOR
|
|
|
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 August
17, 1995 as
a private limited
company under the
name style NAWA
PLASTIC INDUSTRIES CO., LTD. by
Thai groups. It
is a wholly
owned subsidiary of
Nawa Plastic Industries
[Saraburi] Co., Ltd. The
subject is engaged in
manufacturing and distributing
Vinyl and PVC construction and
decorating materials to
domestic market. It
currently employs approximately 420 staff.
The subject is
also a member
of SCG Group
of companies.
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 DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somchai Wangwattanapanich |
|
Thai |
57 |
|
Mr. Suchai Asavathavornvanich |
|
Thai |
58 |
|
Mr. Theerat Uttayanang |
|
Thai |
59 |
AUTHORIZED PERSON
Two of the
above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Theerat Uttayanang
is the Managing
Director.
He is Thai
nationality with the
age of 59
years old.
Mr. Suchai
Asavathavornvanich is the
Deputy Managing Director.
He is Thai
nationality with the
age of 58
years old.
Ms. Wassana Torrungruang is
the Administration Manager.
She is Thai
nationality.
Mr. Piyapong Jariyasethapong is
the Product Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
a manufacturer of
vinyl construction and
decorating materials, and
marketed under “WINDSOR”
brand. Its products
include plastic vinyl
windows and doors,
vinyl eaves and
soft panels, vinyl
gutter, vinyl flooring
and artificial woods,
as well as
vinyl outdoor living
products, such as
vinyl railing, vinyl
shades, vinyl lattices
and vinyl pergolas.
The subject is
also manufacturer and distributor of
PVC pipe and
fittings under the
brand “ELEPHANT”.
PURCHASE
70% of raw
materials and accessories
are purchased from
local suppliers and
agents, the remaining
30%, as well
as machinery are
imported from Japan,
Republic of China,
Taiwan, India, Germany
and Switzerland.
MAJOR SUPPLIERS
Nawa Plastic Industries
[Saraburi] Co., Ltd. : Thailand
Thai
Plastic and Chemicals
Public Company Limited :
Thailand
SALES [LOCAL]
100% of its
products is sold
locally by wholesales
to dealers both
related and other
companies.
MAJOR CUSTOMERS
Kitpermpool Co,. Ltd. : Thailand
SCG Group of
companies : Thailand
Mitrapai Co., Ltd. : Thailand
Vinyl Creation and
Trading Co., Ltd. : Thailand
H.T. [Bangkok] Trading Limited
Partnership : Thailand
Dreamworks Fabricator Co.,
Ltd. : 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.
RELATED AND
AFFILIATED COMPANY
Nawa
Intertech Company Limited
Business Type :
Manufacturer of metal
and plastic molds
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.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office : 333 Silom Rd.,
Silom, Bangrak, Bangkok
10500]
The Siam Commercial
Bank Public Co.,
Ltd.
[Head Office : 9
Ratchadapisek Rd., Ladyao,
Jatujak, Bangkok 10900]
Kasikornbank Public Co., Ltd.
[Head Office : 1 Kasikorn
Lane, Rajburana Rd.,
Rajburana, Bangkok 10140]
EMPLOYMENT
The subject employs
approximately 420 staff.
[office staff and
factory workers]
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
shared with the
Siam Cement Group
of companies.
Factory is located
at 130 Moo
3, Nongraloke, Bankhai,
Rayong 21120.
Tel: [66] 38 892-191-9,
Fax: [66] 38 892-200-1
COMMENT
The subject is the leading company in the
plastic construction material
products. Growth looks
positive due to continuity of
strong market demand
from construction industry
especially residential sector.
Subject reported an
outstanding sales in the
year 2013.
While the year 2014, the
construction market suffered
from weak consumer
confidence. Many developers
voiced concern over
the negative impact
on purchasing power
and buyer sentiment.
Construction and property
business were slowed
during the period.
This also affected
construction materials and
decorative products as a
whole.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each.
The capital was
increased later as
follows:
Bht. 126,000,000
on December 12,
1995
Bht. 426,000,000
on September 2,
1999
The latest registered
capital was increased
to Bht. 426,000,000
divided into 4,260,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 30,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Nawa Plastic Industries
[Saraburi] Co., Ltd. Nationality: Thai Address : 1
Siam Cement Rd., Bangsue, Bangkok
10800 |
4,259,994 |
100.00 |
|
Mr. Vinya Vichiensri Nationality: Thai Address : 36/112
Moo 10, Laksong, Nongkaem, Bangkok
10160 |
1 |
- |
|
Mr. Vorachart Chongsuk Nationality: Thai Address : 198/246
Therdthai Rd., Pakklongpasicharoen, Pasicharoen, Bangkok 10160 |
1 |
- |
|
Ms. Jantima Noyneam Nationality: Thai Address : 1064
Charoennakorn Rd., Banglamphulang,
Klongsan, Bangkok 10160 |
1 |
- |
|
Mrs. Nirachorn Asswathewakiat Nationality: Thai Address : 19/83 Ratanakosin Rd., Ao-ngern, Saimai, Bangkok |
1 |
- |
|
Ms. Kritika Cheungsaengstitporn Nationality: Thai Address : 380/27
Soi Sannibart Thesaban,
Ladyao, Bangkok |
1 |
- |
|
Mr. Adichai Premchaiporn Nationality: Thai Address : 2151
Charoenkrung Rd., Watphrayakrai,
Bangkorlaem, Bangkok 10120 |
1 |
- |
Total Shareholders : 7
Share
Structure [as at
April 30, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
4,260,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
4,260,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Pornthip Rimdusit No.
5565
BALANCE SHEET
[BAHT]
The latest financial
figures published for December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Cash in hand
& at Bank
|
6,490,363 |
8,819,511 |
4,255,134 |
|
Trade Accounts Receivable |
471,240,336 |
381,680,605 |
348,940,288 |
|
Other Receivable -
Related Company |
- |
- |
24,107,946 |
|
Short-term Lending to
Other Company |
13,723,869 |
13,723,869 |
14,407,423 |
|
Inventories |
576,218,462 |
606,539,019 |
541,105,669 |
|
Other Current Assets
|
9,360,138 |
5,865,206 |
33,231,502 |
|
|
|
|
|
|
Total Current Assets
|
1,077,033,168 |
1,016,628,210 |
966,047,962 |
|
Fixed Assets |
1,614,245,643 |
1,516,949,897 |
1,349,540,883 |
|
Leasehold Right |
17,424,500 |
20,586,500 |
23,748,500 |
|
Intangible Assets |
11,054,631 |
6,502,933 |
6,860,811 |
|
Deferred Income Tax Assets |
19,565,247 |
13,619,461 |
- |
|
Other Non-current Assets |
1,819,433 |
81,000 |
192,416 |
|
Total Assets |
2,741,142,622 |
2,574,368,001 |
2,346,390,572 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institution |
2,332,069 |
344,500,000 |
208,189,403 |
|
Trade Accounts Payable |
585,880,520 |
598,679,849 |
593,755,414 |
|
Short-term Loan from Related Company |
7,000,000 |
- |
20,651,921 |
|
Current Portion of Long-term
Loan from Financial Institutions |
100,000,000 |
- |
- |
|
Short-term Loan from
Parent Company |
- |
- |
452,800,000 |
|
Accrued Income Tax |
21,314,141 |
4,265,091 |
3,548,686 |
|
Short-term Liabilities |
2,913,012 |
2,885,810 |
- |
|
Other Current Liabilities |
16,064,397 |
17,648,380 |
90,769,296 |
|
|
|
|
|
|
Total Current Liabilities |
735,504,139 |
967,979,130 |
1,369,714,720 |
|
Long-term Loan from Financial Institutions |
200,000,000 |
200,000,000 |
- |
|
Provision for Employee Benefits |
70,184,963 |
63,243,837 |
32,569,553 |
|
Total Liabilities |
1,005,689,102 |
1,331,222,967 |
1,402,284,273 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and fully paid share
capital 4,260,000 shares |
426,000,000 |
426,000,000 |
426,000,000 |
|
|
|
|
|
|
Capital Paid |
426,000,000 |
426,000,000 |
426,000,000 |
|
Retained Earning Appropriated for Statutory Reserve |
42,600,000 |
42,600,000 |
42,600,000 |
|
Unappropriated |
1,266,853,520 |
774,545,034 |
475,506,299 |
|
Total Shareholders' Equity |
1,735,453,520 |
1,243,145,034 |
944,106,299 |
|
Total Liabilities &
Shareholders' Equity |
2,741,142,622 |
2,574,368,001 |
2,346,390,572 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 [Adjusted] |
2011 |
|
|
|
|
|
|
Sales & Service
Income |
4,237,451,256 |
3,808,713,216 |
3,227,226,548 |
|
Other Income |
20,214,692 |
18,300,473 |
13,611,353 |
|
Gain on Exchange Rate |
2,895,629 |
- |
- |
|
Total Revenues |
4,260,561,577 |
3,827,013,689 |
3,240,837,901 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
3,290,531,445 |
3,026,111,447 |
2,811,034,056 |
|
Selling Expenses |
102,608,704 |
132,424,126 |
114,687,677 |
|
Administrative Expenses |
335,768,632 |
352,945,107 |
173,464,768 |
|
Total Expenses |
3,728,908,781 |
3,511,480,680 |
3,099,186,501 |
|
|
|
|
|
|
Profit before Financial
Cost & Income Tax |
531,52,796 |
315,533,009 |
141,651,400 |
|
Financial Expenses |
[16,486,842] |
[23,071,412] |
[19,251,673] |
|
|
|
|
|
|
Profit before Income
Tax |
515,165,954 |
292,461,597 |
122,399,727 |
|
Income Tax |
[22,857,468] |
[1,134,055] |
[4,775,191] |
|
Net Profit / [Loss] |
492,308,486 |
291,327,542 |
117,624,536 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.46 |
1.05 |
0.71 |
|
QUICK RATIO |
TIMES |
0.67 |
0.42 |
0.29 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.63 |
2.51 |
2.39 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.55 |
1.48 |
1.38 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
63.92 |
73.16 |
70.26 |
|
INVENTORY TURNOVER |
TIMES |
5.71 |
4.99 |
5.19 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
40.59 |
36.58 |
39.47 |
|
RECEIVABLES TURNOVER |
TIMES |
8.99 |
9.98 |
9.25 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
64.99 |
72.21 |
77.10 |
|
CASH CONVERSION CYCLE |
DAYS |
39.52 |
37.53 |
32.63 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
77.65 |
79.45 |
87.10 |
|
SELLING & ADMINISTRATION |
% |
10.35 |
12.74 |
8.93 |
|
INTEREST |
% |
0.39 |
0.61 |
0.60 |
|
GROSS PROFIT MARGIN |
% |
22.89 |
21.03 |
13.32 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
12.55 |
8.28 |
4.39 |
|
NET PROFIT MARGIN |
% |
11.62 |
7.65 |
3.64 |
|
RETURN ON EQUITY |
% |
28.37 |
23.43 |
12.46 |
|
RETURN ON ASSET |
% |
17.96 |
11.32 |
5.01 |
|
EARNING PER SHARE |
BAHT |
115.57 |
68.39 |
27.61 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.37 |
0.52 |
0.60 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.58 |
1.07 |
1.49 |
|
TIME INTEREST EARNED |
TIMES |
32.25 |
13.68 |
7.36 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
11.26 |
18.02 |
|
|
OPERATING PROFIT |
% |
68.49 |
122.75 |
|
|
NET PROFIT |
% |
68.99 |
147.68 |
|
|
FIXED ASSETS |
% |
6.41 |
12.40 |
|
|
TOTAL ASSETS |
% |
6.48 |
9.72 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 11.26%.
Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
22.89 |
Acceptable |
Industrial Average |
34.13 |
|
Net Profit Margin |
11.62 |
Impressive |
Industrial Average |
3.73 |
|
Return on Assets |
17.96 |
Impressive |
Industrial Average |
4.65 |
|
Return on Equity |
28.37 |
Impressive |
Industrial Average |
9.80 |
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 22.89%. 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 11.62%, 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
17.96%, 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 28.37%, 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 :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.46 |
Impressive |
Industrial Average |
1.29 |
|
Quick Ratio |
0.67 |
|
|
|
|
Cash Conversion Cycle |
39.52 |
|
|
|
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 1.46 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 higher, indicated that company
was an efficient operator in a dominant position within its industry.
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 0.67 times in 2013,
increased from 0.42 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 40 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.37 |
Impressive |
Industrial Average |
0.52 |
|
Debt to Equity Ratio |
0.58 |
Impressive |
Industrial Average |
1.07 |
|
Times Interest Earned |
32.25 |
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 32.25 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 0.37 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 |
2.63 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.55 |
Impressive |
Industrial Average |
1.25 |
|
Inventory Conversion Period |
63.92 |
|
|
|
|
Inventory Turnover |
5.71 |
Satisfactory |
Industrial Average |
6.71 |
|
Receivables Conversion Period |
40.59 |
|
|
|
|
Receivables Turnover |
8.99 |
Impressive |
Industrial Average |
4.77 |
|
Payables Conversion Period |
64.99 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.99 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 73 days at the end of 2012 to 64
days at the end of 2013. This represents a positive trend. And Inventory
turnover has increased from 4.99 times in year 2012 to 5.71 times in year 2013.
The company's Total Asset Turnover is calculated as 1.55 times and 1.48
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.70 |
|
|
1 |
Rs.93.41 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.