MIRA INFORM REPORT
|
Report No. : |
331684 |
|
Report Date : |
18.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNITED COIL CENTER LIMITED |
|
|
|
|
Registered Office : |
54/10 MOO 7, Soi Thammasiri, Bangna-trad Road, Km. 25.5, T. Bangsaothong, A. Bangsaothong, Samutprakarn 10540 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
16.11.1989 |
|
|
|
|
Com. Reg. No.: |
0105532110157 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer & Distributor of Sheet & Steel Cutting Service. |
|
|
|
|
No. of Employees : |
800 |
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 : |
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 |
A2 |
|
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 has historically had a strong economy due in part to industrial and agriculture exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods. The economy experienced slow growth and declining exports in 2014, in part due to domestic political turmoil and sluggish global demand. With full employment, Thailand attracts an estimated 4 million migrant workers from neighboring countries, and faces labor shortages. Following the May 2014 coup d’�tat, tourism decreased 6-7% but is beginning to recover. The household debt to GDP ratio is over 80%. 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 baht has remained stable.
|
Source
: CIA |
Company Name
UNITED COIL
CENTER LIMITED
SUMMARY
BUSINESS
ADDRESS : 54/10
MOO 7, SOI THAMMASIRI,
BANGNA-TRAD ROAD,
KM. 25.5,
T.
BANGSAOTHONG, A. BANGSAOTHONG,
SAMUTPRAKARN 10540,
THAILAND
TELEPHONE : [66] 2338-1340,
2708-3170
FAX :
[66] 2338-1342
E-MAIL
ADDRESS : info@ucc.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1989
REGISTRATION
NO. : 0105532110157 [Former
: 11014/2532]
TAX
ID NO. : 3101765984
CAPITAL REGISTERED : BHT. 350,000,000
CAPITAL PAID-UP : BHT.
350,000,000
SHAREHOLDER’S PROPORTION : THAI :
17.57%
JAPANESE :
82.43%
FISCAL YEAR CLOSING DATE : MARCH
31 [Former :
DECEMBER 31]
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
HIRONARI TANAKA, JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 800
LINES
OF BUSINESS : STEEL
SHEET & STEEL
CUTTING SERVICE
IMPORTER &
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 November 16,
1989 as a
private limited company
under the name
style UNITED COIL CENTER LIMITED, by
Thai and Japanese groups. The subject
is a subsidiary
company of Marubeni-Itochu Steel
Inc., Japan to
operate as a
steel service center,
trading and transmutation
of steel such
as blanking, slitting, cutting
and punching. It currently
employs approximately 800
staff.
The subject received
the international standard
ISO 9002 certification.
The subject’s registered
address was initially
at 245 Moo
7, Soi Suksawad
13,
Charoennakorn Rd.,
Bangpakok, Rajburana, Bangkok
10140.
On December 27,
2002, subject’s registered
address was relocated
to 54/10 Moo 7,
Soi Thammasiri, Bangna-Trad
Rd., K.M. 25.5, T.
Bangsaothong, A. Bangsaothong, Samutprakarn
10540, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Hironari Tanaka |
[x] |
Japanese |
57 |
|
Mr. Chularp Pasupa |
[x] |
Thai |
50 |
|
Mr. Masakatsu Murayama |
[x] |
Japanese |
48 |
|
Mr. Churat Pasupa |
|
Thai |
57 |
|
Mr. Chunetr Pasupa |
[x] |
Thai |
56 |
|
Mr. Pramate Wongvilai |
|
Thai |
59 |
|
Mr. Satoshi Ohnishi |
[x] |
Japanese |
48 |
|
Mr. Kazuhiro Mamiya |
|
Japanese |
56 |
|
Mr. Toshiatsu Suwa |
|
Japanese |
57 |
|
Mr. Hiroshi Ogata |
|
Japanese |
57 |
|
Mr. Takehito Kobayashi |
|
Japanese |
50 |
|
Mr. Toshio Katsuragi |
|
Japanese |
52 |
AUTHORIZED PERSON
Any two of the
mentioned directors [x] can jointly
sign on behalf
of the subject
with
company’s affixed.
MANAGEMENT
Mr. Hironari Tanaka is
the Managing Director.
He is Japanese
nationality with the
age of 57 years
old.
Mr. Chularp Pasupa
is the Deputy
Managing Director.
He is Thai
nationality with the
age of 50
years old.
Mr. Pramate Wongvilai
is the General Manager & Factory Manager.
He is Thai
nationality with the
age of 59
years old.
Mr. Toshio Katsuragi is
the General Manager.
He is Japanese
nationality with the
age of 52
years old.
BUSINESS OPERATION
The subject’s activities
are importer and
distributor of steel sheets,
such as cold
rolled steel sheet,
hot rolled steel
sheet, hot dip
galvanized steel sheet,
electro galvanized steel
sheet, electrical steel
sheet [silicon], and
also provides wide
range of services,
including steel cutting,
slitting, leveler-cutting, re-shearing,
blanking, punching of
steel coil and
steel sheet for
construction, automobile and
electric appliance industries.
IMPORT [COUNTRIES]
Most of the
products are imported from
Japan, Singapore, Australia,
Republic of China and Taiwan,
and the rest
are purchased from
local suppliers.
MAJOR SUPPLIERS
Marubeni-Itochu Steel Inc. : Japan
Marubeni-Itochu Steel Pte.
Ltd. : Taiwan
Nishimatsu Co., Ltd . : Japan
SALES [LOCAL]
100% of its products
is sold locally
to manufacturers, wholesalers
and end-users.
MAJOR CUSTOMER
Marubeni Steel Processing
[Thailand] Co., Ltd. :
Thailand
PARENT
COMPANY
Marubeni-Itochu Steel Inc.
Address : 4-1 Nihonbashi, 1-Chome,
Chuo-ku, Tokyo, Japan
RELATED COMPANY
Marubeni Steel Processing
[Thailand] Co., Ltd.
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
& T/T.
BANKING
Bangkok Bank Public Co., Ltd.
[Head Office : 333
Silom Rd., Silom,
Bangrak, Bangkok 10500]
[Cholburi Branch : Cholburi
Province]
Bank of Tokyo-Mitsubishi UFJ
Ltd.
[Bangkok Office : 54 North
Sathorn Rd., Silom,
Bangrak, Bangkok 10500]
Mizuho Corporate Bank
[Bangkok Office : 48 North
Sathorn Road, Silom,
Bangrak, Bangkok 10500]
EMPLOYMENT
The subject employs
approximately 800 staff.
[office staff and
factory workers]
LOCATION DETAILS
The premises is
rented for operating
administrative office at
the heading address.
Premises is located
in industrial area.
The factory I
is located at
700/351, 700/777 Moo
6, Amata Nakorn
Industrial Estate, Bangna-Trad
Road, K.M.57, T. Donhuaroh,
A. Muang, Chonburi 20000, Thailand.
Tel : [66]
38 743-777 Fax
: [66] 38
743-774
The factory II
is located at 500/81 Moo
3, Hemaraj Eastern
Seaboard Industrial Estate,
T. Tasith, A. Pluakdaeng, Rayong
21140.
Tel. : [66] 33
659-777 Fax: [66]
33 659-778
COMMENT
The
subject was formed in 1989
as an importer and
distributor of steels.
The subject supplies
the products to industrial
and construction sectors. Subject reported an outstanding sales in 2014. Strong local
consumption had seen
steady growth.
However, in
2015 growth of domestic
consumption in each
category has been slowing
down compared to the previous year’s level
and Thai economy
has slowed improvement under the
burden of shrinking
domestic consumption and exports.
ADDITIONAL INFORMATION
United
Coil Center [Hemaraj
Branch] is the
coil processing service
center and warehouse
located at Hemaraj
Eastern Seaboard Industrial
Estate, 500/81 Moo
3,
T. Tasith,
A. Pluakdaeng, Rayong 21140.
Tel.
[66] 33 659-777,
Fax. [66] 33
659-778. E-mail address :
info@ucc.co.th
Management :
Mr. Pramate
Wongvilai : General Manager/Factory Manager [Hemaraj Branch]
Business
Operation :
Hemaraj
branch is engaged
in importing and
distributing wide range
of steel products,
such as cold
rolled steel sheets,
hot rolled steel
sheets, hot dip
galvanized steel sheets,
electro galvanized steel
sheets, electrical steel
sheet [silicon], stainless
steels and tinplates,
as well as providing
of coil processing
center services for
slitting, leveler-cutting, re-shearing,
blanking and punching
service.
Employment : approximately
300 office staff
and service workers
FINANCIAL INFORMATION
The capital was
registered at Bht. 100,000,000 divided into 100,000
shares of Bht.
1,000 each.
The capital was
increased later as
followings:
Bht. 150,000,000 on
June 8, 1993
Bht. 250,000,000 on
August 19, 1998
Bht. 350,000,000 on
June 12, 2001
The latest registered capital was
increased to Bht. 350,000,000
divided into 350,000
shares of Bht.
1,000 each with
fully paid.
THE SHAREHOLDERS
LISTED WERE :
[as at January
20, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Marubeni-Itochu Steel Inc.
Nationality: Japanese Address : 4-1 Nihonbashi, 1-Chome,
Chuo-ku, Tokyo, Japan |
288,505 |
82.43 |
|
Mr. Churat Pasupa Nationality: Thai Address : 53-61
Mahapruektharam Rd., Bangrak, Bangkok 10500 |
20,498 |
5.86 |
|
Mr. Chunetr Pasupa Nationality: Thai Address : 47-49
Mahapruektharam Rd., Bangrak, Bangkok 10500 |
20,498 |
5.86 |
|
Mr. Chularp Pasupa Nationality: Thai Address : 246/6
Soi Rungruang, Samsennok, Huaykwang, Bangkok |
18,748 |
5.35 |
|
Mrs. Valaiporn Pasupa Nationality: Thai Address : 246/6
Soi Rungruang, Samsennok, Huaykwang, Bangkok |
1,750 |
0.50 |
|
Mr. Kitsuchart Pasupa Nationality: Thai Address : 53-61
Mahapruektharam Rd., Bangrak, Bangkok 10500 |
1 |
- |
Total Shareholders : 6
Share Structure [as
at January 20,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
61,495 |
17.57 |
|
Foreign - Japanese |
1 |
288,505 |
82.43 |
|
Total |
6 |
350,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Ms. Bongkoch Am-sangiam No.
3684
Note:
On July 24, 2012, the board committee agreed to change its financial fiscal year end date from December 31 to be March 31, and was approved by Commercial Registration Department on October 9, 2012.
BALANCE
SHEET [BAHT]
The
latest financial figures
published for March
31, 2014 & 2013 and December 31,
2012 were:
ASSETS
|
Current Assets |
Mar. 31, 2014 |
Mar. 31, 2013 |
Dec. 31, 2012 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
10,008,875 |
29,497,001 |
24,905,329 |
|
Trade Account Receivable
|
2,987,325,176 |
4,136,298,006 |
4,013,511,583 |
|
Other Receivable |
15,419,030 |
28,706,763 |
20,292,004 |
|
Inventories |
2,587,686,474 |
3,673,309,835 |
4,105,919,843 |
|
Other Current Assets
|
32,002,425 |
39,159,655 |
37,231,648 |
|
|
|
|
|
|
Total Current Assets
|
5,632,441,980 |
7,906,971,260 |
8,201,860,407 |
|
Fixed Assets |
1,520,239,087 |
1,387,708,957 |
1,369,189,853 |
|
Intangible Assets |
29,008,185 |
2,748,414 |
2,967,037 |
|
Deferred Income Tax
Assets |
24,430,539 |
44,491,758 |
28,731,011 |
|
Other Non-current Assets |
12,537,476 |
13,107,942 |
13,357,517 |
|
Total Assets |
7,218,657,267 |
9,355,028,331 |
9,616,105,825 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
Mar. 31,
2014 |
Mar. 31, 2013 |
Dec. 31, 2012 |
|
|
|
|
|
|
Short-term Loan from Financial Institution |
1,208,000,000 |
1,965,000,000 |
1,999,000,000 |
|
Trade Account Payable |
3,207,780,690 |
4,531,788,990 |
4,917,164,346 |
|
Other Payable |
81,008,032 |
155,281,733 |
98,683,542 |
|
Current Portion of Long-term
Loan from Financial Institution |
300,000,000 |
- |
- |
|
Current Portion of
Finance Lease Contract Liabilities |
- |
474,835 |
825,234 |
|
Accrued Income Tax |
- |
56,542,482 |
36,005,823 |
|
Other Current Liabilities |
27,839,511 |
42,486,083 |
30,291,062 |
|
|
|
|
|
|
Total Current Liabilities |
4,824,628,233 |
6,751,574,123 |
7,081,970,007 |
|
Long-term Loan from Financial Institution |
- |
300,000,000 |
300,000,000 |
|
Deferred Income Tax
Liabilities |
11,825,611 |
8,183,123 |
- |
|
Employee Benefits Obligation |
29,209,353 |
22,711,046 |
22,004,930 |
|
Total Liabilities |
4,865,663,197 |
7,082,468,292 |
7,403,974,937 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
value authorized, issued
and fully paid share
capital 350,000 shares |
350,000,000 |
350,000,000 |
350,000,000 |
|
|
|
|
|
|
Capital Paid |
350,000,000 |
350,000,000 |
350,000,000 |
|
Retained Earning Appropriated for Statutory Reserve |
35,000,000 |
35,000,000 |
35,000,000 |
|
Unappropriated [Deficit] |
1,967,994,070 |
1,887,560,039 |
1,827,130,888 |
|
Total Shareholders' Equity |
2,352,994,070 |
2,272,560,039 |
2,212,130,888 |
|
Total Liabilities & Shareholders' Equity |
7,218,657,267 |
9,355,028,331 |
9,616,105,825 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
Mar. 31,
2014 |
Jan. 1,
2013 - Mar. 31, 2013 |
Dec. 31, 2012 |
|
|
|
|
|
|
Sales & Service
Income |
13,636,880,619 |
4,531,300,552 |
15,978,263,931 |
|
Gain on Exchange
Rate |
- |
13,029,157 |
- |
|
Other Income |
37,169,598 |
9,768,432 |
30,933,943 |
|
Total Revenues |
13,674,050,217 |
4,554,098,141 |
16,009,197,874 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
13,006,388,935 |
4,363,600,683 |
15,269,967,171 |
|
Selling Expenses |
188,727,676 |
57,967,120 |
194,465,751 |
|
Administrative Expenses |
168,731,611 |
41,604,432 |
167,922,540 |
|
Loss on Exchange Rate |
48,469,643 |
- |
12,723,058 |
|
Total Expenses |
13,412,317,865 |
4,463,172,235 |
15,645,078,520 |
|
|
|
|
|
|
Profit / Loss] before Financial
Cost & Income Tax |
261,732,352 |
90,925,906 |
364,119,354 |
|
Financial Cost |
[48,682,602] |
[16,360,891] |
[74,716,187] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax
|
213,049,750 |
74,565,015 |
289,403,167 |
|
Income Tax |
[40,019,719] |
[14,135,864] |
[69,245,424] |
|
Net Profit / [Loss] |
173,030,031 |
60,429,151 |
220,157,743 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.17 |
1.17 |
1.16 |
|
QUICK RATIO |
TIMES |
0.62 |
0.62 |
0.57 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
8.97 |
3.27 |
11.67 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.89 |
0.48 |
1.66 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
72.62 |
307.26 |
98.14 |
|
INVENTORY TURNOVER |
TIMES |
5.03 |
1.19 |
3.72 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
79.96 |
333.18 |
91.68 |
|
RECEIVABLES TURNOVER |
TIMES |
4.56 |
1.10 |
3.98 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
90.02 |
379.07 |
117.54 |
|
CASH CONVERSION CYCLE |
DAYS |
62.56 |
261.37 |
72.29 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
95.38 |
96.30 |
95.57 |
|
SELLING & ADMINISTRATION |
% |
2.62 |
2.20 |
2.27 |
|
INTEREST |
% |
0.36 |
0.36 |
0.47 |
|
GROSS PROFIT MARGIN |
% |
4.90 |
4.20 |
4.63 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.92 |
2.01 |
2.28 |
|
NET PROFIT MARGIN |
% |
1.27 |
1.33 |
1.38 |
|
RETURN ON EQUITY |
% |
7.35 |
2.66 |
9.95 |
|
RETURN ON ASSET |
% |
2.40 |
0.65 |
2.29 |
|
EARNING PER SHARE |
BAHT |
49.44 |
17.27 |
62.90 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.67 |
0.76 |
0.77 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.07 |
3.12 |
3.35 |
|
TIME INTEREST EARNED |
TIMES |
5.38 |
5.56 |
4.87 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
200.95 |
(71.64) |
|
|
OPERATING PROFIT |
% |
187.85 |
(75.03) |
|
|
NET PROFIT |
% |
186.34 |
(72.55) |
|
|
FIXED ASSETS |
% |
9.55 |
1.35 |
|
|
TOTAL ASSETS |
% |
(22.84) |
(2.72) |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 200.95%. Turnover has increased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
4.90 |
Deteriorated |
Industrial
Average |
12.95 |
|
Net Profit Margin |
1.27 |
Satisfactory |
Industrial
Average |
1.44 |
|
Return on Assets |
2.40 |
Satisfactory |
Industrial
Average |
2.54 |
|
Return on Equity |
7.35 |
Impressive |
Industrial
Average |
6.98 |
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 4.9%. 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 1.27%.
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 2.4%.
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 7.35%, 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 Downtrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.17 |
Satisfactory |
Industrial
Average |
1.30 |
|
Quick Ratio |
0.62 |
|
|
|
|
Cash Conversion Cycle |
62.56 |
|
|
|
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 1.17 times in 2014, same figure as in 2013, 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 0.62 times in 2014,
same figure as
in 2013, 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 63 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.67 |
Acceptable |
Industrial Average |
0.63 |
|
Debt to Equity Ratio |
2.07 |
Risky |
Industrial
Average |
1.68 |
|
Times Interest Earned |
5.38 |
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 5.38 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 0.67 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
8.97 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.89 |
Impressive |
Industrial
Average |
1.76 |
|
Inventory Conversion Period |
72.62 |
|
|
|
|
Inventory Turnover |
5.03 |
Impressive |
Industrial
Average |
4.09 |
|
Receivables Conversion Period |
79.96 |
|
|
|
|
Receivables Turnover |
4.56 |
Impressive |
Industrial
Average |
3.57 |
|
Payables Conversion Period |
90.02 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.56 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 307 days at the
end of 2013 to 73 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 1.19 times in year 2013 to 5.03 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.89 times and 0.48
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 Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.49 |
|
UK Pound |
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
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.