MIRA INFORM REPORT
|
Report No. : |
330500 |
|
Report Date : |
03.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOSHIBA CARRIER [THAILAND] CO., LTD. |
|
|
|
|
Registered Office : |
144/9 Moo 5, Bangkradi Industrial Park, Tiwanon Road, T. Bangkradi, A. Muang, Pathumthani 12000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
18.03.1999 |
|
|
|
|
Com. Reg. No.: |
0135542000761 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in manufacturing various type of household air conditioners, comprising single split hi-wall, multi-split hi-wall, console & under-ceiling air conditioner, and window room air conditioner |
|
|
|
|
No. of Employees : |
2,000 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
TOSHIBA CARRIER [THAILAND] CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 144/9
MOO 5, BANGKRADI
INDUSTRIAL PARK,
TIWANON ROAD,
T. BANGKRADI, A.
MUANG,
PATHUMTHANI 12000,
THAILAND
TELEPHONE : [66] 2832-3100,
2501-1390
FAX :
[66] 2501-1126,
2832-3101
E-MAIL
ADDRESS : tctc-sales@carrier.utc
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1999
REGISTRATION
NO. : 0135542000761
TAX
ID NO. : 3181081325
CAPITAL REGISTERED : BHT. 1,410,001,100
CAPITAL PAID-UP : BHT.
1,410,001,100
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : MARCH
31 [Former :
NOVEMBER 30]
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. HIDENARI TSURU,
JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 2,000
LINES
OF BUSINESS : AIR
CONDITIONERS
MANUFACTURER, EXPORTER
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 March 18,
1999 as a
private limited company
under the registered name TOSHIBA CARRIER [THAILAND] CO., LTD. by
a joint venture between Toshiba Carrier Corporation, Japan
and Carrier Corporation, U.S.A.
Its business objective
is to manufacture and
export of household
air-conditioners. Subject
currently employs approximately
2,000 staff.
At present, the major shareholders are Toshiba
Carrier Corporation, Japan and Carrier Hvac Investments
B.V., Netherlands.
The subject’s registered
address is 144/9 Moo 5, Bangkradi
Industrial Park, Tiwanon Rd.,
T. Bangkradi, A. Muang, Pathumthani
12000, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Paul Anthony
Fraipont |
|
American |
51 |
|
Mr. Pyung Soo So |
|
Korean |
56 |
|
Mr. Toshiaki Wazawa |
|
Japanese |
56 |
|
Mr. Waseem Islam |
[x] |
American |
50 |
|
Mr. Takao Hoshi |
|
Japanese |
57 |
|
Mr. Katsuyoshi Sano |
|
Japanese |
47 |
|
Mr. Mitsumasa Hata |
|
Japanese |
53 |
|
Mr. Hidenari Tsuru |
[x] |
Japanese |
59 |
|
Mr. Ross Benjamin Shuster |
|
American |
50 |
AUTHORIZED
PERSON
One of the mentioned directors
[x] can sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Hidenari Tsuru is
the Managing Director.
He is Japanese
nationality with the
age of 59
years old.
Mr. Arkorn Phumrakchart is
the Production Manager.
He is Thai
nationality.
Ms. Tassanee Wong-yoo
is the Human
Resources Manager.
She is Thai
nationality.
BUSINESS
OPERATIONS
The
subject is engaged
in manufacturing various
type of household
air conditioners, comprising single
split hi-wall, multi-split
hi-wall, console &
under-ceiling air conditioner,
and window room
air conditioner [WRAC] under
its own brand
“TOSHIBA”.
PRODUCTION
CAPACITY
500,000 units per
annum
PURCHASE
60%
of raw materials
and components are
imported from Japan,
Republic of China
and Singapore, the
remaining 40% is
purchased from local
suppliers.
SALES
95% of the
products is exported
to more than
55 countries in Australia, New
Zealand, Europe, Asia,
Africa, Latin America,
Middle East, UAE, Egypt,
Guam, and etc.,
while the remaining
5% is served
locally to wholesalers.
MAJOR
CUSTOMERS
Carrier [Thailand] Co.,
Ltd. : Thailand
AHI-Carrier [Australia] Pty.
Ltd. : Australia
Toshiba Carrier Corporation : Japan
Metraclark [PLY] Ltd. :
South Africa
Carrier S.A. : Argentina
Q-Carrier [B] Sdn. Bhd. : Brunei
Carrier Africa FZE : Egypt
Airconditioning & Heating
International :
UAE
Carrier Hong Kong
Ltd. : Hong
Kong
Carrier Ltd. : Korea
Carrier Guam Inc. : Guam
Carrier Taiwan Co.,
Ltd. : Taiwan
Carrier [M] Sdn. Bhd. :
Malaysia
PT. Topjaya Sarana
Utama : Indonesia
Carrier Airconditioning &
Refrigeration Ltd. : India
Midea Carrier Ltd. : Chile
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
L/C at sight
or T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
Kasikornbank
Public Co., Ltd.
EMPLOYMENT
The
subject employs approximately
2,000 staff.
LOCATION
DETAILS
The
premise is owned for administrative office, factory and
warehouse at the
heading address. Premise is
located in industrial
area.
COMMENT
The company is
a manufacturer, importer,
distributor and exporter of
household air-conditioner. Its
products are compliant
with RoHS Regulations, which
prohibits the use of
materials such as
lead, cadmium, mercury, hexavalent chromium and
both polybrominated biphenyle
(PBB) and polybrominate dephenyl ether
(PBDE) flame retardants in
the production of
electronic equipment. The
products are not
only the environment benefits but
protecting the planet.
The subject’s operating
performance as of
March 31, 2014
was impressive with
a sharp increase
in both sales
revenue and net profit
comparing to the
same period of
the previous year.
Generally, its business
is solid with steady
growth.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 1,410,000,000
divided into 14,100,000
shares of Bht.
100 each.
On March 12, 2008,
the capital was
increased to Bht.
1,410,001,100 divided into
14,100,011
shares of Bht. 100
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
[as
at December 24,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Toshiba Carrier Corporation Nationality: Japanese Address : 72-34
Horikawa-cho, Saiwai-ku, Kawasaki-shi,
Kanagawa, Japan |
7,050,009 |
50.00 |
|
Carrier Hvac Investments
B.V. Nationality: Dutch Address : Amsterdam,
Netherlands |
7,050,000 |
50.00 |
|
Mr. Waseem Islam Nationality: American Address : 153/2
Soi Mahadlekluang 2,
Rajdamri Road,
Lumpini, Pathumwan, Bangkok |
1 |
- |
|
Mr. Hidenari Tsuru Nationality: Japanese Address : 1
Lotus Sukhumvit Hotel,
Soi Daengudom,
Sukhumvit Road, Klongtonnua, Wattana, Bangkok |
1 |
- |
Total Shareholders : 4
Share Structure [as
at December 24,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
4 |
14,100,011 |
100.00 |
|
Total |
4 |
14,100,011 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Charnchai Chaiprasit No. 3760
BALANCE
SHEET [BAHT]
The latest financial figures published
as at March
31, 2014, 2013 & 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
317,792,484 |
479,247,123 |
1,407,056,469 |
|
Trade Accounts & Other Receivable |
|
|
|
|
- Other Receivable |
2,571,410,722 |
1,530,127,077 |
131,047,402 |
|
- Related
Company |
771,290,282 |
388,059,492 |
258,701,822 |
|
Short-term Loan to Related Company |
1,479,091,750 |
442,938,500 |
- |
|
Inventories |
1,098,975,731 |
903,293,697 |
1,313,873,190 |
|
Refundable Value Added Tax |
67,474,215 |
48,071,376 |
47,716,930 |
|
Refundable Income Tax |
100,216,545 |
100,216,545 |
- |
|
Refundable Tax Imports |
13,570,726 |
52,266,707 |
48,319,393 |
|
Other Current Assets
|
26,060,408 |
29,075,629 |
25,385,590 |
|
|
|
|
|
|
Total Current Assets
|
6,445,882,863 |
3,973,296,146 |
3,232,100,796 |
|
Deferred Income Tax |
49,660,921 |
145,827,684 |
160,170,374 |
|
Fixed Assets |
2,924,112,972 |
2,687,840,605 |
1,056,293,065 |
|
Goodwill |
42,194,155 |
47,697,740 |
53,201,325 |
|
Deposits |
2,600,822 |
2,291,822 |
2,367,822 |
|
Total Assets |
9,464,451,733 |
6,856,953,997 |
4,504,133,382 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Trade Accounts & Other
Payable |
|
|
|
|
- Other
Payable |
2,587,121,086 |
1,812,054,530 |
1,081,115,208 |
|
- Related
Company |
387,008,840 |
299,532,744 |
260,652,775 |
|
Other Payable - Other Company |
83,718,550 |
81,964,353 |
326,105,687 |
|
Other Payable - Related Company |
231,586,962 |
132,713,183 |
26,427,610 |
|
Accrued Expenses |
337,050,418 |
224,045,875 |
165,731,727 |
|
Accrued Income Tax |
91,542,205 |
- |
80,682,419 |
|
Received from Insurance
Company |
- |
1,919,187,356 |
807,064,347 |
|
Other Current Liabilities |
52,073,259 |
11,011,192 |
2,264,925 |
|
|
|
|
|
|
Total Current Liabilities |
3,770,101,320 |
4,480,509,233 |
2,750,044,698 |
|
|
|
|
|
|
Employee Benefits Obligation |
108,695,457 |
96,867,077 |
86,721,603 |
|
Total Liabilities |
3,878,796,777 |
4,577,376,310 |
2,836,766,301 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 14,100,011 shares |
1,410,001,100 |
1,410,001,100 |
1,410,001,100 |
|
|
|
|
|
|
Capital Paid |
1,410,001,100 |
1,410,001,100 |
1,410,001,100 |
|
Retained Earnings Appropriated Statutory Reserve |
162,328,833 |
162,328,833 |
162,328,833 |
|
Unappropriated |
4,013,325,023 |
707,247,754 |
95,037,148 |
|
Total Shareholders' Equity |
5,585,654,956 |
2,279,577,687 |
1,667,367,081 |
|
Total Liabilities &
Shareholders' Equity |
9,464,451,733 |
6,856,953,997 |
4,504,133,382 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
Dec. 1,
2011 - March 31, 2012 |
|
|
|
|
|
|
Sales Income |
11,999,551,485 |
10,268,565,600 |
436,199,061 |
|
Compensation Income |
2,807,015,456 |
- |
|
|
Other Income |
161,231,018 |
94,318,785 |
50,256,259 |
|
Total Revenues |
14,967,797,959 |
10,362,884,385 |
486,455,320 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
9,640,783,583 |
8,776,857,967 |
440,230,749 |
|
Selling Expenses |
537,983,316 |
307,389,156 |
4,007,605 |
|
Administrative Expenses |
482,902,616 |
573,416,356 |
114,607,825 |
|
Other Expenses |
29,548,784 |
51,684,375 |
292,440,922 |
|
Total Expenses |
10,691,218,299 |
9,709,347,854 |
851,287,101 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income Tax |
4,276,579,660 |
653,536,531 |
[364,831,781] |
|
Financial Cost |
- |
[2,528,686] |
- |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
4,276,579,660 |
651,007,845 |
[364,831,781] |
|
Income Tax |
[263,254,637] |
[38,797,239] |
[43,240,971] |
|
|
|
|
|
|
Net Profit / [Loss] |
4,013,325,023 |
612,210,606 |
[321,590,810] |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.71 |
0.89 |
1.18 |
|
QUICK RATIO |
TIMES |
1.36 |
0.63 |
0.65 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.06 |
3.82 |
0.41 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.56 |
1.50 |
0.10 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
41.61 |
37.56 |
1,089.35 |
|
INVENTORY TURNOVER |
TIMES |
8.77 |
9.72 |
0.34 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
63.39 |
54.39 |
109.66 |
|
RECEIVABLES TURNOVER |
TIMES |
5.76 |
6.71 |
3.33 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
97.95 |
75.36 |
896.36 |
|
CASH CONVERSION CYCLE |
DAYS |
7.05 |
16.60 |
302.64 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
65.11 |
85.47 |
100.92 |
|
SELLING & ADMINISTRATION |
% |
6.89 |
8.58 |
27.19 |
|
INTEREST |
% |
- |
0.02 |
- |
|
GROSS PROFIT MARGIN |
% |
35.98 |
15.45 |
10.60 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
28.88 |
6.36 |
(83.64) |
|
NET PROFIT MARGIN |
% |
27.11 |
5.96 |
(73.73) |
|
RETURN ON EQUITY |
% |
71.85 |
26.86 |
(19.29) |
|
RETURN ON ASSET |
% |
42.40 |
8.93 |
(7.14) |
|
EARNING PER SHARE |
BAHT |
284.63 |
43.42 |
(22.81) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.41 |
0.67 |
0.63 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.69 |
2.01 |
1.70 |
|
TIME INTEREST EARNED |
TIMES |
- |
258.45 |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
44.19 |
2,254.10 |
|
|
OPERATING PROFIT |
% |
554.37 |
(279.13) |
|
|
NET PROFIT |
% |
555.55 |
290.37 |
|
|
FIXED ASSETS |
% |
8.79 |
154.46 |
|
|
TOTAL ASSETS |
% |
38.03 |
52.24 |
|
ANNUALGROWTH
: EXCELLENT
An annual sales growth is 44.19%. Turnover has increased from THB
10,268,565,600.00 in 2013 to THB 14,806,566,941.00 in 2014. While net profit
has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
35.98 |
Satisfactory |
Industrial
Average |
37.56 |
|
Net Profit Margin |
27.11 |
Impressive |
Industrial
Average |
16.29 |
|
Return on Assets |
42.40 |
Impressive |
Industrial
Average |
40.34 |
|
Return on Equity |
71.85 |
Impressive |
Industrial
Average |
58.82 |
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 35.98%. 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. Net Profit Margin ratio is 27.11%,
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
42.4%, 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 71.85%, 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 |
1.71 |
Acceptable |
Industrial
Average |
2.76 |
|
Quick Ratio |
1.36 |
|
|
|
|
Cash Conversion Cycle |
7.05 |
|
|
|
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 1.71 times in 2014, increase from 0.89 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 1.36 times in 2014,
increase from 0.63 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 8 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.41 |
Acceptable |
Industrial
Average |
0.31 |
|
Debt to Equity Ratio |
0.69 |
Impressive |
Industrial
Average |
0.44 |
|
Times Interest Earned |
- |
|
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.41 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
5.06 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.56 |
Acceptable |
Industrial Average |
2.48 |
|
Inventory Conversion Period |
41.61 |
|
|
|
|
Inventory Turnover |
8.77 |
Acceptable |
Industrial
Average |
14.73 |
|
Receivables Conversion Period |
63.39 |
|
|
|
|
Receivables Turnover |
5.76 |
Satisfactory |
Industrial
Average |
5.87 |
|
Payables Conversion Period |
97.95 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.76 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 increased from 38 days at the
end of 2013 to 42 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 9.72 times in year 2013 to 8.77 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.56 times and 1.5
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.63.57 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.