MIRA INFORM REPORT
|
Report No. : |
304840 |
|
Report Date : |
24.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
NANAPAN
AGRI-INDUSTRIAL COMPANY LIMITED |
|
|
|
|
Registered Office : |
39/9 Moo 1, T. Prayabunlue, A.
Latbualuang, Ayutthaya 13230 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
12.05.2003 |
|
|
|
|
Com. Reg. No.: |
0105546054459 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
engaged in distributing and exporting various
kinds of Agricultural Products,
including Yellow Maize,
Red Sorghum, Various
Pulses, Beans, Sesame
Seeds, Pearl Barley,
Corn & Rice |
|
|
|
|
No of Employees : |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but Correct |
|
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
NANAPAN AGRI-INDUSTRIAL COMPANY
LIMITED
SUMMARY
BUSINESS
ADDRESS : 39/9
MOO 1, T. PRAYABUNLUE,
A. LATBUALUANG, AYUTTHAYA 13230,
THAILAND
TELEPHONE : [66] 35
741-302-5, 086 308-0217
FAX :
[66] 35
741-305
E-MAIL
ADDRESS : contact@nanapanagri.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2003
REGISTRATION
NO. : 0105546054459
TAX
ID NO. : 3030910080
CAPITAL REGISTERED : BHT. 70,000,000
CAPITAL PAID-UP : BHT.
70,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
KAROON TANTIPONGANANT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 300
(Approximately)
LINES
OF BUSINESS : AGRICULTURE PRODUCTS
DISTRIBUTOR AND
EXPORTER
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 May
12, 2003 as
a private limited
company under the name
style NANAPAN AGRI-INDUSTRIAL COMPANY
LIMITED by Thai groups.
Its business objective is a distributor
and exporter various
kinds of agriculture products.
It currently employs
approximately 300 staff.
The subject’s registered address
was initially at 1150-1158 Songwad Rd., Chakrawad,
Samphantawong, Bangkok 10100.
On July 21, 2010, its registered address was
relocated to 39/9 Moo 1, T. Prayabunlue,
A. Latbualuang, Ayutthaya 13230,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mrs. Suwannee Tantiponganant |
|
Thai |
74 |
|
Mr. Karoon Tantiponganant |
|
Thai |
49 |
|
Mr. Thanaphon Tantiponganant |
|
Thai |
48 |
|
Mr. Chanchai Tantiponganant |
|
Thai |
45 |
|
Mr. Paisarn Tantiponganant |
|
Thai |
40 |
AUTHORIZED
PERSON
Any two of the
above directors can jointly sign
on behalf of
the subject with company’s
affixed.
MANAGEMENT
Mr. Karoon Tantiponganant is
the Managing Director.
He is Thai
nationality with the
age of 49
years old.
Mr. Thanaphon Tantiponganant is
the Purchasing Manager.
He is Thai
nationality with the
age of 48
years old.
Mr. Chanchai Tantiponganant is
the Export Manager.
He is Thai
nationality with the
age of 45
years old.
BUSINESS
OPERATIONS
The subject
is engaged in distributing and
exporting various kinds
of agricultural products,
including yellow maize,
red sorghum, various
pulses, beans, sesame
seeds, pearl barley,
corn & rice
PURCHASE
100% of the
products is purchased
from local suppliers.
SALES
The products are
sold by wholesale
to traders and
manufacturers both domestic
and overseas, mainly Malaysia, Indonesia,
Vietnam, Japan, U.S.A.,
Singapore, Korea, Taiwan,
Republic of China, Hong
Kong, Australia, India,
Philippines, Sri Lanka,
Canada, Pakistan and
the countries in
Europe, Africa and
Middle East.
MAJOR CUSTOMER
Season Food Inc. : U.S.A.
RELATED AND AFFILIATED
COMPANY
Tanyatip Intertrade Co.,
Ltd.
Business Type :
“TANYATIP” packaged rice
LITIGATION
Bankruptcy and
Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
for the past
two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid by cash
or on the credits term
of 30-60 days.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Kasikornbank Public Co.,
Ltd.
The Siam Commercial
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
300 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office,
factory I and warehouse at the heading
address. Premise is
located in rural
area.
The
other factories and
warehouses are located
at:
-
1/3
Tharua-Tharan Rd., T. Tharua,
A. Tharua, Ayutthaya
13130.
-
303/6
Moo 4, T. Kaowangthong, A. Nongchang,
Uthaithani 61000.
Bangkok Branch :
- 1150-1158
Songwad Rd., Chakrawad,
Samphantawong, Bangkok 10100.
Tel. :
[66] 2221-8116-20, Fax. :
[66] 2224-4036.
COMMENT
The
subject was formed
in 2003 as
a distributor and
exporter of agricultural
products. Subject’s
performance was related
with the condition
of consumer markets both
domestic and international, which
are likely to
expand strongly in the past
years.
Sales
in 2013 was
reported an outstanding
growth, as well
as continue expanding
in overseas markets.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 10,000,000 divided
into 100 shares
of Bht. 100,000
each.
The
capital was increased
later as follows:
Bht. 50,000,000
on August 10,
2007
Bht. 70,000,000
on September 28,
2010
The
latest registered capital
was increased to
Bht. 70,000,000 divided
into 700 shares
of Bht. 100,000
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Suwannee Tantiponganant Nationality: Thai Address : 1136/1
Songwad Rd., Chakrawad,
Samphantawong, Bangkok |
420 |
60.00 |
|
Mr. Paisarn Tantiponganant Nationality: Thai Address : 1134-1136
Songwad Rd., Chakrawad,
Samphantawong, Bangkok |
70 |
10.00 |
|
Mr. Karoon Tantiponganant Nationality: Thai Address : 106/4
Moo 7, Bangpai,
Bangkae, Bangkok |
65 |
9.29 |
|
Mr. Thanaphon Tantiponganant Nationality: Thai Address : 1134-1136
Songwad Rd., Chakrawad,
Samphantawong, Bangkok |
65 |
9.29 |
|
Mr. Chanchai Tantiponganant Nationality: Thai Address : 1134-1136
Songwad Rd., Chakrawad,
Samphantawong, Bangkok |
65 |
9.29 |
|
Mrs. Rosmarin Tantiponganant Nationality: Thai Address : 106/4
Moo 7, Bangpai, Bangkae,
Bangkok |
5 |
0.71 |
|
Mrs. Piroonwan Tantiponganant Nationality: Thai Address : 55/97
Moo 1, Klongklua, Pakkred,
Nonthaburi |
5 |
0.71 |
|
Mrs. Suchitra Tantipong-anant Nationality: Thai Address : 1705
Sukhumvit Rd., Prakanongnua,
Wattana, Bangkok |
5 |
0.71 |
Total Shareholders : 8
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
8 |
700 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
8 |
700 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sathit Khamhom No.
6605
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 |
3,359,864.10 |
4,865,158.75 |
3,991,922.22 |
|
Trade Accounts & Other
Receivable |
423,428,209.76 |
4,249,748.12 |
180,302,393.81 |
|
Inventories |
799,950,516.15 |
687,620,440.18 |
785,817,006.44 |
|
Other Current Assets
|
7,102,387.32 |
2,671,878.80 |
3,990,348.84 |
|
|
|
|
|
|
Total Current Assets
|
1,233,840,977.33 |
699,407,225.85 |
974,101,671.31 |
|
|
|
|
|
|
Fixed Assets |
169,811,046.91 |
200,735,770.27 |
196,428,978.66 |
|
Computer Programme |
5,671.23 |
7,671.23 |
62,508.49 |
|
Other Non-current Assets |
3,438,923.00 |
3,977,387.67 |
3,729,323.00 |
|
Total Assets |
1,407,096,618.47 |
904,128,055.02 |
1,174,322,481.46 |
LIABILITIES & SHAREHOLDERS’
EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
839,766,681.85 |
651,665,065.29 |
833,633,932.97 |
|
Current Portion of
Long-term Loans |
19,753,971.60 |
18,754,921.12 |
15,547,094.76 |
|
Short-term Loan from Related
Person |
205,158,443.22 |
85,658,443.22 |
106,558,543.22 |
|
Trade Accounts & Other
Payable |
142,437,156.83 |
7,441,601.58 |
112,883,719.63 |
|
Accrued Income Tax |
1,101,547.91 |
- |
920,303.14 |
|
Other Current Liabilities |
68,139,333.30 |
3,978,330.89 |
15,730,088.53 |
|
|
|
|
|
|
Total Current Liabilities |
1,276,357,134.71 |
767,498,362.10 |
1,085,273,682.25 |
|
Hire-purchase Payable |
9,829,486.71 |
14,937,704.87 |
- |
|
Long-term Loan from Other Company |
26,800,000.00 |
33,000,000.00 |
2,294,906.82 |
|
Total Liabilities |
1,312,986,621.42 |
815,436,066.97 |
1,087,568,589.07 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100,000
par value authorized, issued
and fully paid share
capital 700 shares |
70,000,000.00 |
70,000,000.00 |
70,000,000.00 |
|
|
|
|
|
|
Capital Paid |
70,000,000.00 |
70,000,000.00 |
70,000,000.00 |
|
Retained Earnings Unappropriated
|
24,109,997.05 |
18,691,988.05 |
16,753,892.39 |
|
Total Shareholders' Equity |
94,109,997.05 |
88,691,988.05 |
86,753,892.39 |
|
Total Liabilities & Shareholders' Equity |
1,407,096,618.47 |
904,128,055.02 |
1,174,322,481.46 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales & Services Income |
1,844,984,973.07 |
839,979,713.80 |
2,396,707,761.80 |
|
Other Income |
|
|
|
|
Compensation from Corn Export |
253,697,320.00 |
- |
- |
|
Gain on Exchange Rate |
- |
18,129,841.22 |
12,948,861.54 |
|
Gain/[Loss] on Disposal
of Assets |
- |
493,668.09 |
- |
|
Other |
10,295.84 |
1,485,612.43 |
2,196,799.74 |
|
Total Revenues |
2,098,692,588.91 |
860,088,835.54 |
2,411,853,423.08 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,926,971,732.93 |
769,758,055.45 |
2,252,309,872.89 |
|
Selling Expenses |
91,881,646.86 |
33,129,646.36 |
94,919,993.08 |
|
Administrative Expenses |
19,776,295.78 |
9,706,028.23 |
11,654,977.20 |
|
Total Expenses |
2,038,629,675.57 |
812,593,730.04 |
2,358,884,843.17 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost & Income
Tax |
60,062,913.34 |
47,495,105.50 |
52,968,579.91 |
|
Financial Costs |
[53,218,805.60] |
[44,928,503.15] |
[49,394,618.65] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
6,844,107.74 |
2,566,602.35 |
3,573,961.26 |
|
Income Tax |
[1,426,098.74] |
[628,506.69] |
[1,774,879.85] |
|
|
|
|
|
|
Net Profit / [Loss] |
5,418,009.00 |
1,938,095.66 |
1,799,081.41 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.97 |
0.91 |
0.90 |
|
QUICK RATIO |
TIMES |
0.33 |
0.01 |
0.17 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
10.86 |
4.18 |
12.20 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.31 |
0.93 |
2.04 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
151.52 |
326.05 |
127.35 |
|
INVENTORY TURNOVER |
TIMES |
2.41 |
1.12 |
2.87 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
83.77 |
1.85 |
27.46 |
|
RECEIVABLES TURNOVER |
TIMES |
4.36 |
197.65 |
13.29 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
26.98 |
3.53 |
18.29 |
|
CASH CONVERSION CYCLE |
DAYS |
208.31 |
324.37 |
136.51 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
104.44 |
91.64 |
93.98 |
|
SELLING & ADMINISTRATION |
% |
6.05 |
5.10 |
4.45 |
|
INTEREST |
% |
2.88 |
5.35 |
2.06 |
|
GROSS PROFIT MARGIN |
% |
9.31 |
10.75 |
6.66 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.26 |
5.65 |
2.21 |
|
NET PROFIT MARGIN |
% |
0.29 |
0.23 |
0.08 |
|
RETURN ON EQUITY |
% |
5.76 |
2.19 |
2.07 |
|
RETURN ON ASSET |
% |
0.39 |
0.21 |
0.15 |
|
EARNING PER SHARE |
BAHT |
7,740.01 |
276.87 |
257.01 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.93 |
0.90 |
0.93 |
|
DEBT TO EQUITY RATIO |
TIMES |
13.95 |
9.19 |
12.54 |
|
TIME INTEREST EARNED |
TIMES |
1.13 |
1.06 |
1.07 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
119.65 |
(64.95) |
|
|
OPERATING PROFIT |
% |
26.46 |
(10.33) |
|
|
NET PROFIT |
% |
179.55 |
7.73 |
|
|
FIXED ASSETS |
% |
(15.41) |
2.19 |
|
|
TOTAL ASSETS |
% |
55.63 |
(23.01) |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 119.65%. Turnover has increased from THB 839,979,713.80
in 2012 to THB 1,844,984,973.07 in 2013. While net profit has increased from
THB 1,938,095.66 in 2012 to THB 5,418,009.00 in 2013. And total assets has
increased from THB 904,128,055.02 in 2012 to THB 1,407,096,618.47 in 2013.
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
9.31 |
Satisfactory |
Industrial Average |
9.44 |
|
Net Profit Margin |
0.29 |
Acceptable |
Industrial Average |
0.46 |
|
Return on Assets |
0.39 |
Deteriorated |
Industrial Average |
1.16 |
|
Return on Equity |
5.76 |
Impressive |
Industrial Average |
4.72 |
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 9.31%. 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 0.29%.
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 0.39%.
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 5.76%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit in a dominant position within its industry.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.97 |
Risky |
Industrial Average |
1.03 |
|
Quick Ratio |
0.33 |
|
|
|
|
Cash Conversion Cycle |
208.31 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets are
readily available to pay off its short-term liabilities. The company's figure
is 0.97 times in 2013, increased from 0.91 times, then the company may have
problems meeting its short-term obligations. When compared with the industry
average, the ratio of the company was lower.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 0.33 times in 2013,
increased from 0.01 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 209 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.93 |
Acceptable |
Industrial Average |
0.78 |
|
Debt to Equity Ratio |
13.95 |
Risky |
Industrial Average |
3.56 |
|
Times Interest Earned |
1.13 |
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 1.13 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 0.93 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
10.86 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.31 |
Acceptable |
Industrial Average |
2.50 |
|
Inventory Conversion Period |
151.52 |
|
|
|
|
Inventory Turnover |
2.41 |
Acceptable |
Industrial Average |
4.77 |
|
Receivables Conversion Period |
83.77 |
|
|
|
|
Receivables Turnover |
4.36 |
Impressive |
Industrial Average |
3.64 |
|
Payables Conversion Period |
26.98 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.36 and 197.65
in 2013 and 2012 respectively. This ratio measures the efficiency of the
company in managing its trade debtors to generate revenue. A lower ratio may
indicate over extension and collection problems. Conversely, a higher ratio may
indicate an overtly stringent policy. In this case, the company's A/R ratio in
2013 decreased from 2012. This would suggest the company had deteriorated in
the management of its debt collections.
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has decreased from 326 days at the
end of 2012 to 152 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 1.12 times in year 2012 to 2.41 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.31 times and 0.93
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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
UK Pound |
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.