MIRA INFORM REPORT
|
Report No. : |
303558 |
|
Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SRITHEPTHAI CHEMICAL CO., LTD. |
|
|
|
|
Registered Office : |
Unit B2, 10th Floor, Bangnathani 1/21 Soi Bangna-Trad 34, K.M. 3, Bangna Bangkok 10260 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
14.04.1981 |
|
|
|
|
Com. Reg. No.: |
0105524008039 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Distributor of Plastic and Rubber Chemicals |
|
|
|
|
No. of Employee : |
26 |
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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|
|
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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
SRITHEPTHAI CHEMICAL CO., LTD.
SUMMARY
BUSINESS
ADDRESS : UNIT
B2, 10th FLOOR,
BANGNATHANI BUILDING,
1/21 SOI
BANGNA-TRAD 34, K.M. 3,
BANGNA,
BANGKOK 10260,
THAILAND
TELEPHONE : [66] 2399-2450-1,
2398-0027
FAX :
[66] 2399-2452
E-MAIL
ADDRESS : srithepthai_chemical@hotmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1981
REGISTRATION
NO. : 0105524008039 [Former : 802/2524]
TAX
ID NO. : 3101132847
CAPITAL REGISTERED : BHT. 20,000,000
CAPITAL PAID-UP : BHT.
20,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : MARCH 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
CHAOVALIT PRAESRITRAKUL, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 26
LINES
OF BUSINESS : PLASTIC AND RUBBER CHEMICALS
IMPORTER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was established on
April 14, 1981
as a private
limited company under
the name style SRITHEPTHAI CHEMICAL
CO., LTD. by Thai groups,
in order to import and distribute
plastic and rubber chemicals for various
industries. The subject is a
member of Srithepthai
Group of companies.
It currently employs
26 staff.
The subject’s registration
address was initially
at 121/2 Chongnonsee Rd.,
Chongnonsee, Yannawa, Bangkok 10120.
On May 26,
1989, the registered
address was relocated
to 4th Floor, Srithepthai Building, 109
Moo 8, Bangna-Trad
Rd., KM. 2.5 Bangna,
Prakanong, Bangkok 10260.
On November 5,
2007, its registered
address has been changed from
“109 Moo 8,
Bangna-Trad Road” to
“1200 Bangna-Trad Road”
by the Bangna
District Office, which
actually are the
same location.
On April 30,
2010, it was
relocated to Unit
B2, 10th Floor,
Bangnathani Building, 1/21
Soi Bangna-Trad 34, K.M. 3,
Bangna, Bangkok 10260, and this
is the company’s
current operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sorasint Trichakraphop |
: Chairman |
Thai |
69 |
|
Mr. Pramost Trichakraphop |
|
Thai |
39 |
|
Ms. Prapatsorn Trichakraphop |
|
Thai |
37 |
|
Mr. Vichien
Tachatusanasoonthorn |
|
Thai |
69 |
|
Mr. Chaovalit Phraesritrakul |
|
Thai |
67 |
AUTHORIZED
PERSON
Any two of the above directors can jointly sign
on behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Chaovalit Praesritrakul is
the Managing Director.
He is Thai
nationality with the
age of 67 years
old.
He has been
the Managing Director
since the subject’s
commencement its operation
in 1981.
Ms. Wanthana Natrujiroj
is the Import
Manager.
She is Thai
nationality. She has
been in this
position for over
10 years.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing around 100 kinds of
plastic and rubber
chemicals. The products are divided
into 10 categories, including PVC
group, plasticizer group,
secondary plasticizer group,
epoxydized soy bean
oil group, stabilizer
group, Vulcabond VP
group, impact modifiers
and processing aid
group, blowing agent
group, titanium dioxide
group, and stearic
acid group.
The products are
used in various industries,
such as PVC
pipes & tubes, artificial leather,
wallpaper, floor tile,
canvas, PVC film,
rubber tubes, PVC
doors and windows, electric
wires and cables,
electronic parts, automotive
parts and etc.
MAJOR
BRANDS
LAB-O-SIL and TI-PURE
PURCHASE
The
products are purchased
from both domestic
and overseas suppliers.
80% of the
products is imported
from United Kingdom, United States
of America, Belgium,
Germany, Japan, Republic of China, Malaysia, Singapore, India
and Taiwan, and the
remaining 20% is
purchased from local
agents.
MAJOR
SUPPLIERS
FACI Asia Pacific
Pte. Ltd. : Singapore
Kaneka [Malaysia] Sdn. Bhd. : Malaysia
Arkama Inc. : U.S.A.
Akcros Chemical Ltd. : United
Kingdom
U-kzo Chemical Co., Ltd.
: Japan
B.A.S.F. : Germany
Ferro S.A. : Belgium
Mitsubishi Chemical Corporation
: Japan
Clariant Chemical Co., Ltd. : Thailand
Union Carbide [Thailand]
Co., Ltd. : Thailand
Dow Pacific [Thailand]
Ltd. : Thailand
SALES
[LOCAL]
100% of the
products are sold
to local manufacturers
and dealers.
MAJOR
CUSTOMERS
Thai Pipe Industry
Co., Ltd. : Thailand
Srithepthai Plaschem 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.
SUBSIDIARIES
& AFFILIATED COMPANIES
Subject is a
member of Srithepthai
Group which consists of :
Srithepthai Corporation Ltd.
Business Type : Importer
& distributor of
thermoplastics
Srithepthai Rubber Co., Ltd.
Business Type: Manufacturer
& export of
rubber products
Srithepthai Plaschem Co., Ltd.
Business Type: Manufacturer
of polystyrene plastic
Srithepthai Industries Co., Ltd.
Business Type : Manufacturer
of automobile assembly
[body car]
Srithepthai Latex Co., Ltd.
Business Type : Manufacturer
of latex concentrated
Srithepthai Marketing Co., Ltd.
Business Type : Distributor
of rubber products
Srithepthai Leasing Co., Ltd.
Business Type : Service
of warehouse for
rent
Srithepthai Organics Co., Ltd.
Business Type : Land
development
Srithepthai Autosales Co., Ltd.
Business Type : Distributor
of automobile parts
& accessories
Srithepthai Engineering Co., Ltd.
Business Type : Manufacturer &
distributor of automobile
parts
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.
BUSINESS
TRANSACTION
Most of the company’s products
are sold directly
to local manufacturers
with maximum credit
given at 60
days. The products
are purchased from
overseas suppliers either
by L/C or
T/T as agreed
between two parties,
and also has
no payment problem
for purchasing.
BANKING
Krung Thai Bank
Public Co., Ltd.
[Head Office :
35 Sukhumvit Road,
Klongtonnua, Wattana, Bangkok
10110]
Thanachart Public Co., Ltd.
[New Petchburi
Branch : 1101 New Petchburi Road,
Makkasan, Rajthevi,
Bangkok 10400]
United Overseas Bank
[Thai] Public Co., Ltd.
[Head Office
: 191 South
Sathorn Road, Thungmahamek,
Sathorn, Bangkok 10120]
TMB Bank Public
Co., Ltd.
[Head Office
: 3000 Phaholyothin
Road, Ladyao, Jatujak,
Bangkok 10900]
Bank of Ayudhya
Public Co., Ltd.
[Head Office
: 1222 Rama
3 Road, Bangpongpang,
Yannawa, Bangkok 10120]
Kasikornbank Public Co., Ltd.
[Bangna Branch :
120 Bangna-Trad Rd.,
Bangna, Bangkok 10260]
The Siam Commercial
Bank Public Co., Ltd.
[Bangna Branch :
13 Soi Udomsuk,
Sukhumvit Rd., Bangna,
Bangkok 10260]
EMPLOYMENT
The subject currently
employs 26 staff.
[office and sales
staff]
LOCATION DETAILS
The premise is rented for administrative office
at the heading address. The premise is located in residential/commercial area.
Branch is located
at 999/9 Moo
7, Bangplee-Tamru Road,
T. Bangpleeyai, A. Bangplee, Samutprakarn
10540.
NOTE
Refer to your
given address, 10th Floor,
Bangnathani Building, 1721
Soi Bangna-Trad 34,
K.M. 3, Bangna, Bangkok 10260.
Please be informed that the correct address is 10th Floor, Bangnathani Building,
1/21 Soi Bangna-Trad
34, K.M. 3, Bangna, Bangkok 10260.
COMMENT
The
subject had strong
business performance in the
previous years. However,
economy slowdown in
accordance with slow
domestic industrial growth
has caused to
decrease subject’s sales,
as well as,
the impact of
slow spending and
delay of industrial expansion
had pressured subject’s
performance.
FINANCIAL
INFORMATION
The capital was registered at
Bht. 2,000,000 divided into 20,000 shares of
Bht. 100 each with fully
paid.
The capital was
increased later as
following:
Bht. 4,000,000
on July 30,
1987
Bht. 20,000,000
on April 9,
1991
The latest registered capital
was increased to Bht. 20,000,000
divided into 200,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED
[as at
July 30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Malee Praesritrakul Nationality: Thai Address : 211/105 Pattanakarn Rd.,
Praves, Bangkok |
65,881 |
32.94 |
|
Tripple R [Thailand]
Co., Ltd. Nationality: Thai Address : 1/36
Soi Bangna-Trad 34,
Bangna,
Bangkok 10260 |
60,000 |
30.00 |
|
Mr. Wanchai Chanprapavut Nationality: Thai Address : 291 Pattanakarn 53 Rd.,
Suanluang, Bangkok |
28,235 |
14.11 |
|
Mr. Prathan Trichakraphop Nationality: Thai Address : 14
Soi Premier 1 Yaek 22,
Nongbon, Praves,
Bangkok |
16,470 |
8.24 |
|
Suanluang Saran Co., Ltd.
Nationality: Thai Address : 1/36
Bangna-Trad 34 Rd., Bangna,
Bangkok |
16,000 |
8.00 |
|
Mr. Prasert Trichakraphop Nationality: Thai Address : 10
Soi Premier 1 Yaek 22,
Nongbon, Praves, Bangkok |
13,414 |
6.71 |
Total Shareholders : 6
Share Structure [as at
July 30, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
200,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
6 |
200,000 |
100.00 |
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Mr. Satien Satienpanich
No. 2893
BALANCE
SHEET [BAHT]
The
latest financial figures
published for March
31, 2014, 2013
& 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
39,577,171.43 |
29,984,877.06 |
24,607,499.98 |
|
Trade Accounts &
Other Receivable |
194,941,352.79 |
211,002,207.31 |
204,934,327.30 |
|
Inventories |
53,168,203.63 |
62,811,781.34 |
75,271,585.80 |
|
|
|
|
|
|
Total Current Assets
|
287,686,727.85 |
303,798,865.71 |
304,813,413.08 |
|
Long-term Investment |
69,647,808.00 |
69,547,620.00 |
69,543,290.00 |
|
Fixed Assets |
391,408.40 |
518,918.70 |
594,098.65 |
|
Other Non-current Assets
|
10,626,585.22 |
10,698,445.22 |
10,626,585.22 |
|
Total Assets |
368,352,529.47 |
384,563,849.63 |
385,577,386.95 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial Institution |
24,877,190.31 |
41,323,576.67 |
40,154,900.36 |
|
Trade Accounts &
Other Payable |
205,990,039.11 |
203,328,473.10 |
199,934,714.39 |
|
Accrued Income Tax |
844,287.36 |
2,269,965.71 |
2,507,734.15 |
|
|
|
|
|
|
Total Current Liabilities |
231,711,516.78 |
246,922,015.48 |
242,597,348.90 |
|
Long-term Loan |
60,319,587.75 |
65,606,668.34 |
81,750,539.86 |
|
Obligation from Employee
Benefits |
30,000.00 |
30,000.00 |
3,155,169.41 |
|
Other Non-current Liabilities |
2,613,764.97 |
2,253,054.01 |
30,000.00 |
|
Total Liabilities |
294,674,869.50 |
314,811,737.83 |
327,533,058.17 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value authorized, issued
and fully paid share
capital 200,000 shares |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
|
|
|
|
|
Capital Paid |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
Retained Earning Appropriated for Statutory Reserve |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
Unappropriated |
52,677,659.97 |
48,752,111.80 |
37,044,328.78 |
|
Total Shareholders' Equity |
73,677,659.97 |
69,752,111.80 |
58,044,328.78 |
|
Total Liabilities &
Shareholders' Equity |
368,352,529.47 |
384,563,849.63 |
385,577,386.95 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales |
635,717,123.14 |
738,655,780.05 |
736,631,177.14 |
|
Other Income |
4,463,573.39 |
5,667,842.69 |
3,265,871.64 |
|
Total Revenues |
640,180,696.53 |
744,323,622.74 |
739,897,048.78 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
598,375,279.80 |
703,917,487.25 |
698,067,027.92 |
|
Selling Expenses |
14,387,258.55 |
11,700,220.58 |
14,353,212.67 |
|
Administrative Expenses |
15,189,960.28 |
6,179,316.06 |
9,170,287.84 |
|
Other Expenses |
- |
- |
188,240.00 |
|
Total Expenses |
627,952,498.63 |
721,797,023.89 |
721,778,768.43 |
|
|
|
|
|
|
Profit before Financial
Cost & Income Tax |
12,228,197.90 |
22,526,598.85 |
18,118,280.35 |
|
Financial Cost |
[6,030,657.16] |
[7,566,625.50] |
[10,118,586.66] |
|
Profit before Income Tax |
6,197,540.74 |
14,959,973.35 |
7,999,693.69 |
|
Income Tax |
[2,271,992.57] |
[3,252,190.33] |
[3,346,691.98] |
|
|
|
|
|
|
Net Profit / [Loss] |
3,925,548.17 |
11,707,783.02 |
4,653,001.71 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.24 |
1.23 |
1.26 |
|
QUICK RATIO |
TIMES |
1.01 |
0.98 |
0.95 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1,624.18 |
1,423.45 |
1,239.91 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.73 |
1.92 |
1.91 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
32.43 |
32.57 |
39.36 |
|
INVENTORY TURNOVER |
TIMES |
11.25 |
11.21 |
9.27 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
111.93 |
104.26 |
101.54 |
|
RECEIVABLES TURNOVER |
TIMES |
3.26 |
3.50 |
3.59 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
125.65 |
105.43 |
104.54 |
|
CASH CONVERSION CYCLE |
DAYS |
18.71 |
31.40 |
36.36 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
94.13 |
95.30 |
94.76 |
|
SELLING & ADMINISTRATION |
% |
4.65 |
2.42 |
3.19 |
|
INTEREST |
% |
0.95 |
1.02 |
1.37 |
|
GROSS PROFIT MARGIN |
% |
6.58 |
5.47 |
5.68 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.92 |
3.05 |
2.46 |
|
NET PROFIT MARGIN |
% |
0.62 |
1.59 |
0.63 |
|
RETURN ON EQUITY |
% |
5.33 |
16.78 |
8.02 |
|
RETURN ON ASSET |
% |
1.07 |
3.04 |
1.21 |
|
EARNING PER SHARE |
BAHT |
19.63 |
58.54 |
23.27 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.80 |
0.82 |
0.85 |
|
DEBT TO EQUITY RATIO |
TIMES |
4.00 |
4.51 |
5.64 |
|
TIME INTEREST EARNED |
TIMES |
2.03 |
2.98 |
1.79 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(13.94) |
0.27 |
|
|
OPERATING PROFIT |
% |
(45.72) |
24.33 |
|
|
NET PROFIT |
% |
(66.47) |
151.62 |
|
|
FIXED ASSETS |
% |
(24.57) |
(12.65) |
|
|
TOTAL ASSETS |
% |
(4.22) |
(0.26) |
|
ANNUAL
GROWTH : RISKY
An annual sales growth is -13.94%. Turnover has decreased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
6.58 |
Impressive |
Industrial
Average |
0.91 |
|
Net Profit Margin |
0.62 |
Deteriorated |
Industrial
Average |
2.22 |
|
Return on Assets |
1.07 |
Deteriorated |
Industrial
Average |
7.20 |
|
Return on Equity |
5.33 |
Deteriorated |
Industrial
Average |
12.95 |
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 6.58%. When compared with the industry
average, the ratio of the company was higher, indicated that company was more
profitable than the same industry.
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 0.62%.
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 1.07%.
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 5.33%.
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 |
1.24 |
Acceptable |
Industrial
Average |
1.76 |
|
Quick Ratio |
1.01 |
|
|
|
|
Cash Conversion Cycle |
18.71 |
|
|
|
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 1.24 times in 2014, decreased from 1.23 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 1.01 times in 2014,
decreased from 0.98 times, although excluding inventory so the company still
have good short-term financial strength.
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 19 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.80 |
Acceptable |
Industrial
Average |
0.51 |
|
Debt to Equity Ratio |
4.00 |
Risky |
Industrial
Average |
1.05 |
|
Times Interest Earned |
2.03 |
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 2.03 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 0.8 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1,624.18 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.73 |
Acceptable |
Industrial
Average |
3.24 |
|
Inventory Conversion Period |
32.43 |
|
|
|
|
Inventory Turnover |
11.25 |
Deteriorated |
Industrial
Average |
25.28 |
|
Receivables Conversion Period |
111.93 |
|
|
|
|
Receivables Turnover |
3.26 |
Deteriorated |
Industrial
Average |
6.54 |
|
Payables Conversion Period |
125.65 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.26 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 33 days at the
end of 2013 to 32 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 11.21 times in year 2013 to 11.25
times in year 2014.
The company's Total Asset Turnover is calculated as 1.73 times and 1.92
times in 2014 and 2013 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.61.85 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.