MIRA INFORM REPORT
|
Report No. : |
325328 |
|
Report Date : |
06.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIAMOND BUILDING PRODUCTS PUBLIC COMPANY LIMITED |
|
|
|
|
Formerly Known As : |
DIAMOND ROOFING TILES
PUBLIC COMPANY LIMITED |
|
|
|
|
Registered Office : |
69-70 Moo 1, Mitraphab Road, Km. 115, T. Talingchan, A. Muang, Saraburi
18000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
28.08.1985 |
|
|
|
|
Com. Reg. No.: |
0107547001041 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in manufacturing and
distributing wide range
of roof tiles
and related products,
including boards and
ceilings, siding boards,
and other roof
accessories and non-roof
products, as well
as provide servicing
of roof stripping,
and installation |
|
|
|
|
No. of Employees : |
918 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 has had a strong economy due in part to industrial and agriculture exports
- mostly electronics, agricultural commodities, automobiles and parts, and
processed foods. Thailand 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 both 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. Government
approved flood mitigation projects, worth $11.7 billion, were started in 2012
to prevent a repeat. Thai growth slowed in 2013 and has remained low since, as
the country faced political uncertainty and a coup in May 2014. The interim
government is implementing a special $11 billion short-term stimulus package
and has approved a budget of more than $80 billion to aid an economic rebound.
|
Source
: CIA |
Company
Name
DIAMOND BUILDING
PRODUCTS PUBLIC COMPANY LIMITED
[FORMER : DIAMOND
ROOFING TILES PUBLIC
COMPANY LIMITED]
SUMMARY
BUSINESS ADDRESS : 69-70 MOO 1,
MITRAPHAB ROAD, KM.
115,
T.
TALINGCHAN, A. MUANG, SARABURI
18000,
THAILAND
TELEPHONE : [66] 36
224-171-8
FAX : [66] 36
224-185-7
E-MAIL ADDRESS : corpcenter@dbp.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1985
REGISTRATION NO. : 0107547001041 [Former
: 0107574701044]
TAX ID NO. : 3101358346
CAPITAL REGISTERED : BHT.
1,047,958,000
CAPITAL PAID-UP : BHT.
1,047,958,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PUBLIC LIMITED
COMPANY
EXECUTIVE : MR. ASANEE CHANTONG,
THAI
MANAGING DIRECTOR
NO. OF STAFF : 918
LINES OF BUSINESS : ROOF
TILES AND RELATED
PRODUCTS
MANUFACTURER, 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
originally established on August
28, 1985 as
a private limited
company under the name
style “Diamond Roofing
Tiles Co., Ltd.” by
Thai groups, with the business
objective to manufacture
wide range of
roof tiles and
related products to
both domestic and
overseas markets.
On December 2,
2004, its status
was converted to a
public limited company
under the name “Diamond Roofing
Tiles Public Company
Limited”, and was
listed on the
Stock Exchange of
Thailand [SET], under
the symbol “DRT”
on November 29,
2005.
On January 18,
2011, its registered
name was changed
to DIAMOND BUILDING
PRODUCTS PUBLIC COMPANY
LIMITED. It currently
employs 918 staff.
The subject achieved the
standard ISO OHSAS 18001 :
2007 and
ISO 14001 : 2004 certificates
in 2005
and 2009 respectively.
The subject’s registered address is 69-70 Moo 1, Mitraphab Rd., KM. 115,
T. Talingchan, A. Muang, Saraburi
18000, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Prakit Pradipasen |
[x] |
Thai |
73 |
|
Mr. Chaiyut Srivikorn |
[x] |
Thai |
49 |
|
Mr. James Patrick Rooney |
[x] |
Thai |
77 |
|
Mr. Phaithoon Kijsamrej |
[x] |
Thai |
72 |
|
Mr. Asanee Chantong |
[x] |
Thai |
63 |
|
Mr. Satid Sudbuntad |
[x] |
Thai |
55 |
|
Mr. Sakda Maneeratchatchai |
|
Thai |
71 |
|
Mr. Anun Louharanoo |
|
Thai |
62 |
|
Mr. Maitree Tawonatiwasna |
[x] |
Thai |
69 |
|
Mr. Krit Phanratanamala |
|
Thai |
47 |
|
Mr. Woodthikrai Soatthiyanon |
|
Thai |
62 |
|
Mr. Thanit Pulivekin |
|
Thai |
65 |
AUTHORIZED PERSON
Any two of
the mentioned directors [x]
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Asanee Chantong is
the Managing Director.
He is Thai
nationality with the age of 63
years old.
Mr. Maitree Tawonatiwasna is
the Deputy Managing
Director [Production and
Engineering]. He is
Thai nationality with
the age of
69 years old.
Mr. Satid Sudbuntad is
the Deputy Managing
Director [Sales & Marketing].
He is Thai
nationality with the
age of 55 years
old.
Ms. Thanakarn Phanthapirat is
the Assistant Managing
Director [Finance and Accounting].
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and distributing wide
range of roof
tiles and related
products, including boards
and ceilings, siding
boards, and other
roof accessories and
non-roof products, as
well as provide
servicing of roof
stripping, and installation
under the trade names “DIAMOND”, “ADAMAS”,
and “JEARANAI”. Range
of products and
services are as
follows:
Tile products
Fiber cement
tile such as Roman
Tile, Small Corrugated
Tile, Flat Sheet, Jatulon and
Fiber Cement Ridges
Concrete tile
such as Gran
Onda, Adamas and
Concrete Ridges and etc.
“Jearanai” tile includes
Tile and Ridge.
“Diamond” board & ceiling
“Diamond” siding board including Siding
Board, Lathes, Eaves and etc.
Special products such as
Batten, Foil, Bird
Guard, Paint and
etc.
Roof accessories such
as Battens, Foils,
Bird Guards, Paints and
etc.
Non-roof products such
as Truss, Laminate,
Gypsum Boards, Water
Tanks and etc.
5. Roof
stripping and installation
services, truss and
laminate installation.
PURCHASE
60% of raw
material is purchased
from local suppliers,
the remaining 40%
and machinery are
imported from Austria,
Germany, Republic of China and
Taiwan.
MAJOR SUPPLIER
MFL Faserzementanlagen GmbH. : Austria
SALES/SERVICES
85% of the
products is sold
locally by wholesale
to over 5,000
dealers, and over
100 project owners,
the remaining 15% is exported
to Laos, Malaysia,
Republic of China,
Philippines, Myanmar, Taiwan,
Malaysia, Vietnam, Indonesia
and Cambodia.
REVENUE STRUCTURE
|
|
2014 |
2013 |
||
|
Products/Services |
Million baht |
% |
Million baht |
% |
|
|
|
|
|
|
|
Sales Income |
3,901.96 |
92.29 |
4,065.13 |
92.35 |
|
- Roof Tiles |
2,220.09 |
52.51 |
2,432.01 |
55.25 |
|
- Boards & Ceilings |
611.42 |
14.46 |
521.36 |
11.84 |
|
- Siding Boards |
673.85 |
15.94 |
686.94 |
15.61 |
|
- Special Products |
396.60 |
9.38 |
424.82 |
9.65 |
|
|
|
|
|
|
|
Services Income |
325.93 |
7.71 |
336.71 |
7.65 |
|
|
|
|
|
|
|
Total Income |
4,227.89 |
100.00 |
4,401.84 |
100.00 |
SUBSIDIARY AND
AFFILIATED COMPANY
Diamond Materials Co.,
Ltd.
Business Type :
Manufacturer and distributor
of autoclaved aerated
concrete products
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
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
918 staff.
LOCATION DETAILS
The premise is
owned for administrative office,
factory and warehouse
at the heading
address. Premise is
located in provincial.
Branches:
- 40th Flr.,
Phaholyothin Place Bldg., 408/163-165
Phaholyothin Rd., Samsennai,
Phyathai, Bangkok
10400.
- 490
Khon Kaen Distributor
Center, T. Banperd,
A. Muang, Khon Kaen
40000.
- 169-170
Moo 4, Mitraphap Rd., T. Tandiew, A.
Kaengkhoi, Saraburi 18110.
COMMENT
The subject is
specialized in
manufacturing, distributing and
exporting of roof
tiles and related
products. The products
have been distributed
widely in Thai
market. With its
accumulated experience for
more than 30
years, the subject
has gained creditability
and comprehensive network
in the Thai
industry. Generally, its
business is solid
and growing considerably.
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,049,650,000 divided into
1,049,650,000 shares of
Bht. 1 each.
On April 30,
2015, the capital
was decreased to
Bht. 1,047,958,000 divided
into
1,047,958,000 shares of
Bht. 1 each, which
was fully paid-up.
MAIN SHAREHOLDERS : [as
at March 12, 2015]
at Bht. 1,047,958,000
of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
Myriad Materials Co.,
Ltd. |
629,128,600 |
60.03 |
|
Long Term Bualuang
Open Fund |
23,947,600 |
2.29 |
|
Long Term Bualuang
Open Fund 75/25 |
17,113,100 |
1.63 |
|
Mr. Prakit Pradipasen |
12,119,500 |
1.16 |
|
Bualuang
Siripholbansatpiban Open Fund |
10,616,200 |
1.01 |
|
Mrs. Siriwan Cheungteerapanich |
10,000,000 |
0.95 |
|
Bualuang Siripholbansatpiban Open
Fund for Provident
|
9,761,400 |
0.93 |
|
State Street Bank
and Trust Company |
9,754,800 |
0.93 |
|
Bualuang Flexible Open
Fund for Provident
|
9,370,200 |
0.89 |
|
Bualuang Basic Structure
Open Fund for Provident |
7,146,700 |
0.71 |
|
Others |
308,999,900 |
29.47 |
Total Shareholders :
4,690
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Mr. Montri Panichakul No.
3461
BALANCE SHEET
[BAHT]
The latest financial figures published
as at December 31,
2014, 2013 &
2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and cash equivalents |
12,974,302 |
56,795,833 |
56,496,370 |
|
Trade accounts receivable
|
522,926,160 |
570,029,078 |
498,492,207 |
|
Other receivables |
37,163,953 |
39,282,382 |
632,434,441 |
|
Inventories |
664,230,223 |
776,123,433 |
5,589,578 |
|
Other current assets
|
3,939,576 |
4,719,928 |
- |
|
|
|
|
|
|
Total Current Assets
|
1,241,234,214 |
1,446,950,654 |
1,193,012,596 |
|
Investment in subsidiary |
200,000,000 |
200,000,000 |
- |
|
Investment properties |
67,111,804 |
67,111,804 |
- |
|
Advance payment for Purchase |
- |
- |
45,317,330 |
|
Property, plant and equipment |
2,251,199,766 |
2,473,620,765 |
2,287,460,415 |
|
Land not used
in operations |
- |
- |
91,437,948 |
|
Intangible assets |
15,983,955 |
22,026,966 |
26,129,758 |
|
Deferred tax assets |
20,283,089 |
19,809,642 |
- |
|
Other non - current assets |
1,220,959 |
2,128,726 |
1,306,354 |
|
Total Assets |
3,797,033,787 |
4,231,648,557 |
3,644,664,401 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank overdraft and
short-term loan from financial institutions |
394,200,000 |
420,000,000 |
111,141,780 |
|
Trade accounts payable
|
106,465,776 |
199,035,452 |
280,787,958 |
|
Other payable |
104,390,342 |
110,149,176 |
- |
|
Current Portion of
long-term loans from financial institutions |
400,000,000 |
250,000,000 |
170,395,817 |
|
Current Portion of
financial lease liabilities |
6,320,066 |
6,114,723 |
5,738,641 |
|
Income tax payable |
15,884,920 |
35,214,816 |
60,849,869 |
|
Other Current Liabilities |
16,260,259 |
24,396,290 |
78,832,338 |
|
|
|
|
|
|
Total Current Liabilities |
1,043,521,363 |
1,044,910,457 |
707,746,403 |
|
Long-term loans from
person or other |
417,500,000 |
815,500,000 |
648,552,257 |
|
Finance lease liabilities |
7,536,527 |
8,349,550 |
12,829,486 |
|
Employee benefits obligation |
73,673,297 |
65,448,081 |
61,302,666 |
|
Total Liabilities |
1,542,231,187 |
1,934,208,088 |
1,430,430,812 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
Share capital |
|
|
|
|
Authorized share
capital |
1,049,650,000 |
1,049,650,000 |
1,049,650,000 |
|
Issued and
paid-up share capital |
1,047,958,000 |
1,047,368,000 |
1,038,104,000 |
|
Additional paid in capital : |
|
|
|
|
Premium on ordinary shares
|
166,511,520 |
165,720,920 |
153,307,160 |
|
Surplus on treasury
shares |
165,206,460 |
165,206,460 |
165,206,460 |
|
Retained Earnings: Appropriated for
statutory reserve |
105,000,000 |
105,000,000 |
105,000,000 |
|
Unappropriated |
770,126,620 |
814,145,089 |
752,615,969 |
|
Total Shareholders' Equity |
2,254,802,600 |
2,297,440,469 |
2,214,233,589 |
|
Total Liabilities & Shareholders' Equity |
3,797,033,787 |
4,231,648,557 |
3,644,664,401 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Revenue from sale of goods
and rendering of
services |
4,227,889,760 |
4,401,842,337 |
3,883,579,465 |
|
Other income |
24,173,798 |
29,077,935 |
69,602,207 |
|
Total Revenues |
4,252,063,558 |
4,430,920,272 |
3,953,181,672 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of sales
of goods and
rendering of services |
3,211,881,223 |
3,242,196,396 |
2,710,706,594 |
|
Selling expenses |
180,483,245 |
153,140,704 |
143,509,818 |
|
Administrative expenses |
431,762,416 |
430,810,237 |
338,143,380 |
|
Remuneration director |
- |
- |
44,483,700 |
|
Finance costs |
50,608,217 |
43,387,045 |
7,648,066 |
|
Total Expenses |
3,874,735,101 |
3,869,534,382 |
3,244,491,558 |
|
Profit before income
tax expense |
377,328,457 |
561,385,890 |
708,690,114 |
|
Income tax expense |
[75,547,066] |
[112,664,441] |
[162,779,568] |
|
|
|
|
|
|
Net Profit / [Loss] |
301,781,391 |
448,721,449 |
545,910,546 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.19 |
1.38 |
1.69 |
|
QUICK RATIO |
TIMES |
0.55 |
0.64 |
1.68 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.88 |
1.78 |
1.70 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.11 |
1.04 |
1.07 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
75.48 |
87.37 |
0.75 |
|
INVENTORY TURNOVER |
TIMES |
4.84 |
4.18 |
484.96 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
45.14 |
47.27 |
46.85 |
|
RECEIVABLES TURNOVER |
TIMES |
8.09 |
7.72 |
7.79 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
12.10 |
22.41 |
37.81 |
|
CASH CONVERSION CYCLE |
DAYS |
108.53 |
112.23 |
9.80 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
75.97 |
73.66 |
69.80 |
|
SELLING & ADMINISTRATION |
% |
14.48 |
13.27 |
12.40 |
|
INTEREST |
% |
1.20 |
0.99 |
0.20 |
|
GROSS PROFIT MARGIN |
% |
24.60 |
27.01 |
31.99 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
8.92 |
12.75 |
18.25 |
|
NET PROFIT MARGIN |
% |
7.14 |
10.19 |
14.06 |
|
RETURN ON EQUITY |
% |
13.38 |
19.53 |
24.65 |
|
RETURN ON ASSET |
% |
7.95 |
10.60 |
14.98 |
|
EARNING PER SHARE |
BAHT |
28.80 |
42.84 |
52.59 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.41 |
0.46 |
0.39 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.68 |
0.84 |
0.65 |
|
TIME INTEREST EARNED |
TIMES |
7.46 |
12.94 |
92.66 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(3.95) |
13.34 |
|
|
OPERATING PROFIT |
% |
(32.79) |
(20.79) |
|
|
NET PROFIT |
% |
(32.75) |
(17.80) |
|
|
FIXED ASSETS |
% |
(8.99) |
8.14 |
|
|
TOTAL ASSETS |
% |
(10.27) |
16.11 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -3.95%. Turnover has decreased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
24.60 |
Impressive |
Industrial Average |
(24.00) |
|
Net Profit Margin |
7.14 |
Impressive |
Industrial Average |
(2.70) |
|
Return on Assets |
7.95 |
Impressive |
Industrial Average |
(2.33) |
|
Return on Equity |
13.38 |
Impressive |
Industrial Average |
(11.57) |
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 24.6%. When
compared with the industry average, the ratio of the company was higher,
indicated that company was more profitable than the same industry.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. The company’s figure is 7.14%, 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
7.95%, 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 13.38%, 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 Downtrend
LIQUIDITY : ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.19 |
Impressive |
Industrial Average |
0.29 |
|
Quick Ratio |
0.55 |
|
|
|
|
Cash Conversion Cycle |
108.53 |
|
|
|
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 1.19 times in 2014, decreased from 1.38 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 higher, indicated that company
was an efficient operator in a dominant position within its industry.
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 0.55 times in 2014,
decreased from 0.64 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 109 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.41 |
Acceptable |
Industrial Average |
0.33 |
|
Debt to Equity Ratio |
0.68 |
Impressive |
Industrial Average |
(0.69) |
|
Times Interest Earned |
7.46 |
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 lower the percentage means that the company is
using less leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 7.46 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 0.41 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.88 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.11 |
Impressive |
Industrial Average |
0.53 |
|
Inventory Conversion Period |
75.48 |
|
|
|
|
Inventory Turnover |
4.84 |
Impressive |
Industrial Average |
4.05 |
|
Receivables Conversion Period |
45.14 |
|
|
|
|
Receivables Turnover |
8.09 |
Acceptable |
Industrial Average |
11.08 |
|
Payables Conversion Period |
12.10 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.09 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 87 days at the
end of 2013 to 75 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 4.18 times in year 2013 to 4.84 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.11 times and 1.04
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 Downtrend
Inventory Turnover Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.90 |
|
|
1 |
Rs.71.82 |
|
Euro |
1 |
Rs.97.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.