MIRA INFORM REPORT
|
Report No. : |
330630 |
|
Report Date : |
07.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
Zhejiang Satellite
Petrochemical Co., Ltd. |
|
|
|
|
Registered Office : |
Bujiao Road, Jiaxing Industrial Park, Jiaxing, Zhejiang Province, 314004
Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
30.09.2014 |
|
|
|
|
Date of Incorporation : |
03.08.2005 |
|
|
|
|
Com. Reg. No.: |
330400400002711 |
|
|
|
|
Legal Form : |
Shares Limited Company |
|
|
|
|
Line of Business : |
Manufacturing acrylate, methyl acrylate, ethyl acrylate, n-butyl
acrylate, isooctyl acrylate, acrylic acid and esters heavies, fabric coating
adhesive (the above products with valid “Jiaxing dangerous chemicals
production and storage certificate” to produce), super absorbent polymer,
water (steam) loom waterproof slurry, snow film; wholesaling, importing and
exporting propane, propylene, ethanol, butanol, isobutanol 2 - octanol,
hydroquinone ("Dangerous chemicals business license" is valid until
July 25, 2015). The above products do not involve state trading, import and
export quota license, export quota bidding, export licenses and other special
management of goods. |
|
|
|
|
No. of Employees : |
1,584 (Including Subsidiaries) |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, growth of the private sector, development of stock markets and a modern banking system, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors considered important to "economic security," explicitly looking to foster globally competitive industries. After keeping its currency tightly linked to the US dollar for years, in July 2005 China moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. In 2014 the People’s Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2014 stood as the largest economy in the world, surpassing the US that year... Still, per capita income is below the world average.
The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2014 more than 274 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development.
Several factors are converging to slow China's growth, including debt overhang from its credit-fueled stimulus program, industrial overcapacity, inefficient allocation of capital by state-owned banks, and the slow recovery of China's trading partners. The government's 12th Five-Year Plan, adopted in March 2011 and reiterated at the Communist Party's "Third Plenum" meeting in November 2013, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent in the future on fixed investments, exports, and heavy industry. However, China has made only marginal progress toward these rebalancing goals. The new government of President XI Jinping has signaled a greater willingness to undertake reforms that focus on China's long-term economic health, including giving the market a more decisive role in allocating resources. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
|
Source
: CIA |
Company
Name & address
Zhejiang Satellite Petrochemical Co., Ltd.
BUJIAO ROAD, JIAXING INDUSTRIAL PARK, JIAXING,
zhejiang province, 314004 PR CHINA
TEL: 86 (0) 573-82229096 FAX: 86 (0) 573-82229088
EXECUTIVE
SUMMARY
INCORPORATION DATE : august 3, 2005
REGISTRATION NO. : 330400400002711
REGISTERED LEGAL FORM : SHARES LIMITED COMPANY
CHIEF EXECUTIVE :
MR. ma guolin (president)
STAFF STRENGTH :
1,584
(INCLUDING SUBSIDIARIES)
REGISTERED CAPITAL : CNY
805,087,000
BUSINESS LINE :
MANUFACTURING & trading
TURNOVER :
CNY 2,945,476,000 (Consolidated, JAN. 1 TO sep. 30, 2014)
EQUITIES :
CNY 3,748,566,000 (Consolidated, AS OF sep. 30, 2014)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 20,000,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.20 = USD 1 AS OF 2015-7-6
Adopted
abbreviations:
ANS - amount not stated NS
- not stated SC - subject company (the
company inquired by you)
NA - not available CNY
- China Yuan Renminbi
SC was registered as a Shares limited company at Zhejiang Provincial
Administration for Industry & Commerce (AIC-The official body of issuing
and renewing business license).
Company Status: Shares limited co. (股份有限公司) This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its debts
only to the extent of its total assets. The co has independent property of
legal person and enjoys property rights of legal person. The characteristics of the shares limited co. are as
follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be domiciled
in The minimum registered capital
of a co. is CNY The board of directors must
consist of five to nineteen directors. If the co.
raises capital by public offer, the promoters must not subscribe less than 35%
of the total shares. the promoters’ shares are restricted to transfer-
within one year of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered business scope includes manufacturing acrylate, methyl
acrylate, ethyl acrylate, n-butyl acrylate, isooctyl acrylate, acrylic acid and
esters heavies, fabric coating adhesive (the above products with valid “Jiaxing
dangerous chemicals production and storage certificate” to produce), super
absorbent polymer, water (steam) loom waterproof slurry, snow film;
wholesaling, importing and exporting propane, propylene, ethanol, butanol,
isobutanol 2 - octanol, hydroquinone ("Dangerous chemicals business
license" is valid until July 25, 2015). The above products do not involve
state trading, import and export quota license, export quota bidding, export
licenses and other special management of goods.
SC is mainly engaged in manufacturing and selling integrated acrylic
acid and acrylic ester chain.
Mr. Ma Guolin is legal representative and president of SC at present.
SC is known to have approx. 1,584 employees (including subsidiaries) at present,
including 954 production staff, 80 marketing staff, 276 R&D and technical
staff, 24 financial staff, 114 management staff and 136 other-position staff.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the industrial zone of Jiaxing. SC’s
accountant refused to release the detail information of the total premise.
http://www.satlpec.com/ The design is professional and the content is
well organized. At present it is in Chinese and English versions.
Email: satlpec@gmail.com
SC is listed in Shenzhen Stock Exchange Market with the code of
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
2010 |
Company’s name |
Zhejiang Satellite Acrylic Manufacturing Co., Ltd. |
Present one |
|
2012-3-20 |
Registered capital |
CNY 150,000,000 |
CNY 200,000,000 |
|
2012-8-24 |
CNY 200,000,000 |
CNY 400,000,000 |
|
|
2014-8-15 |
CNY 400,000,000 |
CNY 800,000,000 |
|
|
Unknown |
CNY 800,000,000 |
Present amount |
SC is a high-tech enterprise in Zhejiang Province and a member unit of
China acrylic acid (ester) Association, and SC was awarded “Advanced Unit”,
“Top
Tax Registration Certificate No.: 33040177826404X
Organization Code: 77826404-X
Trade Credit
Insurance Amount Assessment
SC’s management declined to release whether SC has purchased trade
credit insurance.
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS: (As of Sep.
30, 2014)
Name %
of Shareholding
Zhejiang Satellite Holdings Co., Ltd. 49.88
Yang Ya Zhen 18.75
Jiaxing Maoyuan Investment Co., Ltd. 6.38
Orient Securities Co., Ltd. 0.57
Chen Yanxiang 0.54
Nanjing Zhongning Complete Electromechanical Welding Equipment Co., Ltd. 0.4
Wu Jian 0.26
China Industrial International Trust Limited- Wealth No.3 New Structured
Securities Investment Collection Funds Trust Program 0.26
China Construction Bank - China Advantage Growth Securities Investment
Fund 0.21
Song Yuqian 0.21
Other shareholders 22.54
Zhejiang Satellite Holdings Co., Ltd.
========================
Incorporation date: July 28, 1999
Registration no.: 330000000008341
Registered capital: CNY 100,000,000
Legal representative: Yang Weidong
Add: Bujiao Road, Jiaxing Industrial Park, Zhejiang Province
Tel: (+86) 0573 - 8221 8888
Fax: (+86) 0573 - 8222 2999
Email: 8888@weixing.com.cn
; enquire@weixing.com.cn
http://www.weixing.com.cn/page.php?pageId=81
Jiaxing Maoyuan Investment Co., Ltd.
==========================
Registration no.: 330402000061248
Legal representative: Yang Weidong
Legal representative and President:
Mr. Ma Guolin, born in 1964 with junior college education, senior
economist. He is currently responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and president;
Also working in Zhejiang Satellite Holdings Co., Ltd., Zhejiang
Satellite Trading Chemical Co., Ltd. Jiaxing Maoyuan Investment Co., Ltd.,
Jiaxing Xingyuan Information Technology Co., Ltd. (in Chinese pinyin), etc. as
director, and in Zhejiang Union Chemicals Industry Co., Ltd. and Zhejiang Satellite
Chemical Logistics Co. Ltd. as director and general manager.
Chairman:
Mr. Yang Weidong, born in 1968, with junior college education, senior
economist. He is currently responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as chairman.
Also working in Zhejiang Satellite Holdings Co., Ltd., Zhejiang
Satellite Trading Chemical Co., Ltd. Jiaxing Maoyuan Investment Co., Ltd.,
Jiaxing Xingyuan Information Technology Co., Ltd. (in Chinese pinyin), etc. as
legal representative, and in Zhejiang Union Chemicals Industry Co., Ltd. and
Zhejiang Satellite Chemical Logistics Co. Ltd. as director.
Vice
Chairman and Vice President:
Ms. Yang Yuying, born in 1961. She is currently responsible for the
daily management of SC.
Working Experience(s):
At present Working
in SC as vice chairman and vice president.
Also working in Zhejiang Union Chemicals Industry Co., Ltd. and Zhejiang
Satellite Chemical Logistics Co. Ltd. as legal representative.
Vice
Presidents:
Mr. Cai Yongsheng, born in 1965, EMBA, China super professional manager;
Mr. Gao Jun, born in 1969, with university education, senior engineer;
Mr. Jin Fengfu, born in 1962, with university education, senior
engineer;
Mr. Liu Shigang born in 1967, with university education;
Ms. Wang Manyin, born in 1970, with university education, Chinese
Certified Public Accountant, China Registered Tax Accountant, senior
accountant.
They are currently responsible for the daily management of SC.
Working Experience(s):
At present Working
in SC as vice presidents.
Directors:
Chen Shuda
Peng Zhaohui
Kong Dong
Supervisors:
Tang Wenrong
Shen Zhiming
Jiang Bo
SC is mainly engaged in manufacturing and selling integrated acrylic acid
and acrylic ester chain.
Main Products:
Acrylic acid and
acrylic ester series
Including acrylic acid, methyl acrylate, ethyl acrylate, butyl acrylate,
and ethylhexyl acrylate.
Widely used in textile, printing and dyeing, health and medicine, chemicals,
leather, paper, construction and other industries for the production of textile
auxiliaries, super absorbent materials, coatings, elastomers, adhesives,
coating agents, thickeners, polymer electrolytes.
Methacrylic
acid
Formula: CH2 = C (CH3) COOH.
Mainly for manufacturing paints, plastics, adhesives, wood and cork
impregnating compounds, paper coating agents, textile auxiliaries, insulation
materials, ion exchange resins, and polycarboxylate water reducing agent.
Super absorbent
resin
Super absorbent sodium polyacrylate resin for sanitary uses the
international advanced production technology and the self-developed patented
technology. With the world-class performances, it is featured with less
residual monomer, fast imbibition, high water retention, and large imbibition
volume.
It is mainly used for ordinary and ultra-thin diapers and sanitary
napkins.
High Polymer Resin
and Latex Series
This series of products are co-polymerized and synthesized by acrylic
acid and acrylate and acetyl monomers, including textile pulps, fabric coating
adhesives and films, base cements, flocking adhesives, thickeners and so on.
Mainly used for sizing various types of polyester filament yarns,
textured yarns, composite filaments, shaped filaments, nylon filaments, and
other hydrophobic fibers, finishing of apparel fabrics, linings, luggage
fabrics, and umbrella fabrics, and spraying and flocking of clothing fabrics,
decorative materials of home textiles as well as compound (calendering) of
fabrics and PVC.
Pigment
intermediates
Including 2B oil, 2B acid, 2B acid sodium salt, 4B acid.
Primarily as intermediates for the synthesis of organic pigments, and
for the production of paints, pesticides and organic intermediates.
SC sources its materials 95% from domestic market, and 5% from overseas
market. SC sells 85% of its products in domestic market, and 15% to overseas
market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Trademark & Patents
|
Registration No. |
6865709 |
6865707 |
6865704 |
|
Registration Date |
|
|
|
|
Trademark Design |
|
|
|
Etc.
Note: SC’s management refused to release its mains suppliers and
clients.
Zhejiang Satellite Trading Chemical Co., Ltd.
===============================
Incorporation date:
Registration no.: 330400000009659
Legal representative: Yang Weidong
Jiaxing Xingyuan Information Technology Co., Ltd. (in Chinese pinyin)
==================================================
Incorporation date:
Registration no.: 330402000078147
Legal representative: Yang Weidong
Etc.
SC
is known to invest in the following companies:
Zhejiang Union Chemicals Industry Co., Ltd.
==============================
Incorporation date:
Registration no.: 330400000004245
Legal representative: Yang Yuying
Zhejiang Satellite Chemical Logistics Co. Ltd.
=================================
Incorporation date:
Registration no.: 330403000003616
Legal representative: Yang Yuying
Jiaxing Jiutong Logistics Co., Ltd.
=========================
Incorporation date:
Registration no.: 330405000009019
Legal representative: Ma Tujun
Overall payment appraisal: ( )
Excellent ( ) Good
(X) Average ( ) Fair
( ) Poor (
) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment and our debt collection record concerning SC.
Trade payment experience: SC did not provide any name of
trade/service suppliers and we have no other sources to conduct the enquiry at
present.
Delinquent payment record: None
in our database.
Debt collection record: No overdue amount owed by SC was placed to us for
collection within the last 6 years.
SC declined to release its banking details.
Consolidated
Balance Sheet
Unit: CNY’000
|
|
As of Sep. 30,
2014 |
As of Dec. 31,
2013 |
|
Cash & bank |
510,287 |
741,636 |
|
Notes receivable |
729,224 |
271,281 |
|
Inventory |
796,884 |
425,092 |
|
Accounts receivable |
186,610 |
177,521 |
|
Advances to supplies |
174,081 |
34,519 |
|
Other receivables |
4,565 |
4,934 |
|
Other current assets |
532,645 |
346,268 |
|
|
------------------ |
------------------ |
|
Current assets |
2,934,296 |
2,001,251 |
|
Long-term investments |
0 |
0 |
|
Fixed assets |
3,870,899 |
580,485 |
|
Projects under construction |
126,389 |
2,679,648 |
|
Project materials |
91,303 |
627,583 |
|
Disposal of fixed assets |
1,185 |
0 |
|
Intangible assets |
290,851 |
295,479 |
|
Goodwill |
44,397 |
44,397 |
|
Long-term deferred expenses |
523,376 |
39,489 |
|
Deferred tax assets |
4,542 |
4,185 |
|
Other assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total assets |
7,887,238 |
6,272,517 |
|
|
============= |
============= |
|
Short loans |
1,114,484 |
343,884 |
|
Notes payable |
260,665 |
0 |
|
Accounts payable |
871,943 |
693,971 |
|
Advances from customers |
52,065 |
35,667 |
|
Employee pay payable |
19,950 |
28,663 |
|
Taxes payable |
13,702 |
49,132 |
|
Interest payable |
7,221 |
4,375 |
|
Other accounts payable |
11,633 |
18,287 |
|
Non-current liabilities due within one year |
358,600 |
137,200 |
|
Other current liabilities |
0 |
0 |
|
|
----------------- |
----------------- |
|
Current liabilities |
2,710,263 |
1,311,179 |
|
Long term liabilities |
1,428,409 |
1,312,949 |
|
|
------------------ |
------------------ |
|
Total liabilities |
4,138,672 |
2,624,128 |
|
Shareholders equities |
3,748,566 |
3,648,389 |
|
|
------------------ |
------------------ |
|
Total liabilities & equities |
7,887,238 |
6,272,517 |
|
|
============= |
============= |
|
|
As of Dec. 31,
2012 |
As of Dec. 31,
2011 |
|
Cash & bank |
787,393 |
1,995,055 |
|
Notes receivable |
782,886 |
818,341 |
|
Inventory |
236,191 |
315,112 |
|
Accounts receivable |
153,090 |
119,891 |
|
Advances to supplies |
15,953 |
47,563 |
|
Other receivables |
5,301 |
6,884 |
|
Other current assets |
11,690 |
3,808 |
|
|
------------------ |
------------------ |
|
Current assets |
1,992,504 |
3,306,654 |
|
Long-term investments |
0 |
0 |
|
Fixed assets |
523,506 |
539,372 |
|
Projects under construction |
741,960 |
29,281 |
|
Project materials |
53,613 |
3,670 |
|
Intangible assets |
301,803 |
80,172 |
|
Goodwill |
44,397 |
0 |
|
Long-term deferred expenses |
61,080 |
93,607 |
|
Deferred tax assets |
2,788 |
1,947 |
|
Other assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total assets |
3,721,651 |
4,054,703 |
|
|
============= |
============= |
|
Short loans |
0 |
365,990 |
|
Accounts payable |
374,942 |
195,420 |
|
Advances from customers |
31,217 |
31,267 |
|
Employee pay payable |
16,330 |
3,663 |
|
Taxes payable |
28,453 |
38,295 |
|
Interest payable |
0 |
1,352 |
|
Other Accounts payable |
10,714 |
8,097 |
|
Non-current liabilities due within one year |
0 |
50,000 |
|
Other current liabilities |
0 |
0 |
|
|
----------------- |
----------------- |
|
Current liabilities |
461,656 |
694,084 |
|
Long term liabilities |
0 |
329,500 |
|
|
------------------ |
------------------ |
|
Total liabilities |
461,656 |
1,023,584 |
|
Shareholders equities |
3,259,995 |
3,031,119 |
|
|
------------------ |
------------------ |
|
Total liabilities & equities |
3,721,651 |
4,054,703 |
|
|
============= |
============= |
Consolidated
Income Statement
Unit: CNY’000
|
|
Jan. 1 to Sep.
30, 2014 |
As of Dec. 31,
2013 |
|
Turnover |
2,945,476 |
3,316,007 |
|
Cost of goods sold |
2,393,556 |
2,454,156 |
|
Taxes and additional of main operation |
10,677 |
13,508 |
|
Sales expense |
74,285 |
75,368 |
|
Management expense |
168,903 |
217,668 |
|
Finance expense |
41,272 |
-20,189 |
|
Asset impairment loss |
973 |
3,575 |
|
Non-operating income |
16,754 |
22,704 |
|
Non-operating expense |
6,771 |
4,646 |
|
Profit before tax |
265,793 |
589,979 |
|
Less: profit tax |
39,258 |
89,843 |
|
Net profit |
226,535 |
500,136 |
|
|
As of Dec. 31,
2012 |
As of Dec. 31,
2011 |
|
Turnover |
3,162,033 |
3,247,867 |
|
Cost of goods sold |
2,426,802 |
2,275,306 |
|
Taxes and additional of main operation |
14,892 |
14,845 |
|
Sales expense |
76,546 |
50,502 |
|
Management expense |
181,575 |
164,378 |
|
Finance expense |
-19,849 |
30,149 |
|
Asset impairment loss |
5,266 |
2,012 |
|
Non-operating income |
19,188 |
11,335 |
|
Non-operating expense |
4,576 |
6,234 |
|
Profit before tax |
491,413 |
715,776 |
|
Less: profit tax |
69,231 |
86,051 |
|
Net profit |
422,182 |
629,725 |
Important
Ratios
=============
|
|
As of Sep. 30,
2014 |
As of Dec. 31,
2013 |
|
*Current ratio |
1.08 |
1.53 |
|
*Quick ratio |
0.79 |
1.20 |
|
*Liabilities to assets |
0.52 |
0.42 |
|
*Net profit margin (%) |
7.69 |
15.08 |
|
*Return on total assets (%) |
2.87 |
7.97 |
|
*Inventory /Turnover ×365 |
/ |
47 days |
|
*Accounts receivable/Turnover ×365 |
/ |
20 days |
|
*Turnover/Total assets |
0.37 |
0.53 |
|
*Cost of goods sold/Turnover |
0.81 |
0.74 |
|
|
As of Dec. 31, 2012 |
As of Dec. 31,
2011 |
|
*Current ratio |
4.32 |
4.76 |
|
*Quick ratio |
3.80 |
4.31 |
|
*Liabilities to assets |
0.12 |
0.25 |
|
*Net profit margin (%) |
13.35 |
19.39 |
|
*Return on total assets (%) |
11.34 |
15.53 |
|
*Inventory /Turnover ×365 |
28 days |
36 days |
|
*Accounts receivable/Turnover ×365 |
18 days |
14 days |
|
*Turnover/Total assets |
0.85 |
0.80 |
|
*Cost of goods sold/Turnover |
0.77 |
0.70 |
PROFITABILITY:
AVERAGE
The turnover of SC appears good in its line.
SC’s net profit margin is good in 2011, 2012 and 2013 but fairly good in
the first 3 quarters of 2014.
SC’s return on total assets is good in 2011 and 2012, but fairly good in
2013, average in the first 3 quarters of 2014.
SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a fairly good level in 2011 and
2012, but normal in 2013 and the first 3 quarters of 2014.
SC’s quick ratio is maintained in a fairly good level in 2011 and 2012, but
normal in 2013 and the first 3 quarters of 2014.
The inventory of SC appears average.
The accounts receivable of SC is maintained in an average level.
SC has no short-term loan in 2012, and appears average in 2011 and 2013 but
fairly large in the first 3 quarters of 2014.
SC’s turnover is in a fair level, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
The debt ratio of SC is low in 2011, 2012 and 2013 but average in the
first 3 quarters of 2014.
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly stable.
SC is considered large-sized in its line with fairly stable financial
conditions. The large amount of short loans could be a threat to SC’s financial
condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.99.11 |
|
Euro |
1 |
Rs.70.29 |
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.