MIRA INFORM REPORT
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Report No. : |
349356 |
|
Report Date : |
07.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SCG PLASTICS CO., LTD |
|
|
|
|
Formerly Known As : |
CCC CHEMICAL COMMERCE CO., LTD. SIAM CHEMICAL TRADING CO., LTD |
|
|
|
|
Registered Office : |
1
Siam Cement Road,
Kwaeng Bangsue, Khet
Bangsue, Bangkok 10800 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
25.04.1995 |
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|
|
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Com. Reg. No.: |
0105538050741 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
The subject’s
activities are distributor
and exporter wide
range of Poly-olefins, such as
Polyethylene [PE], [EL-Lene
Polyethylene Plastic Resin],
Polypropylene [PP], [EL-Pro
Polypropylene Plastic
Resin], High Density
Polyethylene [HDPE], Low
Density Polyethylene [LDPE], and
Linear Low Density Polyethylene
[LLDPE], as well as
Pulverized Powders and
Compounded Resins. |
|
|
|
|
No. of Employees : |
120 |
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 |
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|
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Payment Behaviour : |
No Complaints |
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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 |
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Restricted |
C2 |
|
Off-credit |
D |
THAILAND - ECONOMIC
OVERVIEW
With a well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies Thailand has historically had a strong economy due in part to competitive 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 2-4 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
SCG PLASTICS
CO., LTD.
[FORMER : CCC CHEMICAL
COMMERCE CO., LTD.]
SUMMARY
BUSINESS ADDRESS : 1
SIAM CEMENT ROAD,
KWAENG BANGSUE,
KHET BANGSUE,
BANGKOK 10800, THAILAND
TELEPHONE
: [66] 2586-6262,
2586-5809, 2586-5897, 2586-5988
FAX :
[66] 2586-5514,
2586-2093, 2586-3907
E-MAIL ADDRESS : chalermh@scg.co.th
sirinutj@scg.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1995
REGISTRATION NO. : 0105538050741 [Former : [1]
1129/]2538]
TAX ID NO. : 3011580127
CAPITAL REGISTERED : BHT.
10,000,000
CAPITAL PAID-UP
: BHT. 5,000,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
SHAREHOLDER’S PROPORTION : THAI : 100%
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE
: MR.
SAKCHAI PATIPARNPREECHAVUD, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 120
LINES OF
BUSINESS : PETROCHEMICAL DISTRIBUTOR AND
EXPORTER
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 April
25, 1995 as
a private limited
company under the
registered name “Siam
Chemical Trading Co., Ltd.” with
the business objective
to distribute petrochemical
products, specialized in
Poly-olefins to both
domestic and export
markets. On January 2, 2002, subject’s
name was changed to “CCC Chemical
Commerce Co., Ltd.”, and
finally changed to “SCG PLASTICS
CO., LTD.” on
January 3, 2007. It
employs approximately 120
staff.
At present, subject
is a wholly
owned subsidiary of
“SCG Chemicals Co.,
Ltd.” [Former : Cementhai
Chemicals Co., Ltd.],
which is a
subsidiary of Siam
Cement Public Company
Limited, and is
also a member
of The Siam
Cement Group in
petrochemicals business, which has
over 30 subsidiaries
and affiliated companies.
The subject’s
registered address is 1
Siam Cement Rd., Kwaeng
Bangsue, Khet Bangsue,
Bangkok 10800, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somchai
Wangwattanapanich |
|
Thai |
56 |
|
Mr. Cholanat Yanaranop |
|
Thai |
56 |
|
Mr. Sakchai
Patiparnpreechavud |
|
Thai |
48 |
|
Mr. Chavalit Ekabut |
|
Thai |
56 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign on behalf
of the subject
with
company’s affixed.
MANAGEMENT
Mr. Sakchai
Patiparnpreechavud is the
Managing Director.
He is Thai
nationality with the
age of 48
years old.
Mr. Visith
Trichaivichitkul
is the Export
Sales Manager.
He is Thai
nationality.
Mr. Chaovalit Treechak
is the Local
Sales Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s
activities are distributor
and exporter wide
range of Poly-olefins,
such as Polyethylene
[PE], [EL-Lene Polyethylene
Plastic Resin], Polypropylene
[PP], [EL-Pro Polypropylene Plastic Resin],
High Density Polyethylene [HDPE], Low Density Polyethylene [LDPE], and Linear
Low Density Polyethylene [LLDPE],
as well as Pulverized
Powders and Compounded
Resins.
PURCHASE
100% of the products
is purchased from associated companies
in Petrochemical Business
of Siam Cement
Group.
MAJOR SUPPLIERS
Thai
Polyethylene Co., Ltd : Thailand
Thai
Polypropylene Co., Ltd. : Thailand
SCG Polyolefins Co.,
Ltd. : Thailand
SALES [LOCAL]
30% of its
products is sold
locally to manufacturers, wholesalers
and end-users.
EXPORT [COUNTRIES]
70% of the
products is exported
to Hong Kong,
Indonesia, Malaysia, India,
Singapore,
Australia,
Republic of China,
Vietnam, Japan, Myanmar,
Laos, Taiwan, Chile,
Pakistan,
United States of
America, Bangladesh, Hong Kong,
Russia and Philippines.
The subject has
representatives and overseas
branches in Guizhou,
Shanghai, Myanmar, Laos
and Vietnam.
MAJOR CUSTOMERS
CCC Chemical Commerce
[China] Co., Ltd. :
Republic of China
Grand Siam Composites
Co., Ltd. : Thailand
SCG Trading [U.S.A]
Inc. : United
States of America
Universal
Polymer Co., Ltd. : Thailand
MC Industrial Chemical
Co., Ltd. :
Thailand
Mehran Plastics Industries
Pvt. Ltd. : Pakistan
SUBSIDIARIES &
AFFILIATED COMPANIES
The Siam Cement Group
[Petrochemical Business]:
|
Name |
Country |
Line of
Business |
|
|
|
|
|
Thai
Polyethylene Co., Ltd. |
Thailand
|
Manufacturer
of polyethylene [HDPE,
MDPE, LLDPE] |
|
Thai Polypropylene Co., Ltd. |
Thailand
|
Manufacturer
of polypropylene |
|
SCG Plastics Co.,
Ltd. |
Thailand |
Trading company |
|
SCG
Performance Chemicals Co., Ltd. |
Thailand |
Trading company |
|
SCG
Polyolefins Co., Ltd. |
Thailand |
Trading company |
|
Rayong Engineering
& Plant Service Co.,
Ltd. |
Thailand |
Engineering
and plant service |
|
RIL 1996 Co.,
Ltd. |
Thailand |
Industrial estate |
|
Rayong
Pipeline Co., Ltd. |
Thailand |
Rights of way
and use |
|
Map Ta Phut
Tank Terminal Co., Ltd. |
Thailand |
Warehouse and transportation services |
|
Map Ta Phut Olefins
Co., Ltd. |
Thailand
|
Raw material
for plastic resins |
|
Thai Plastic and
Chemicals Plc. |
Thailand |
Plastic resins and PVC
compound |
|
TPC Paste Resin
Co., Ltd. |
Thailand |
PVC paste resins |
|
Nawa Plastic
Industries Co., Ltd. |
Thailand |
PVC pipe and PVC
products |
|
Nawa Intertech Co.,
Ltd. |
Thailand |
Molding |
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 IRICO’S
DATABASE for the
past two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid on the
credits term of
30-60 days.
Exports are against
L/C at sight
and T/T.
BANKING
Kasikornbank
Public Co., Ltd.
[Head Office
: 1 Kasikorn
Lane, Rajburana Rd.,
Rajburana, Bangkok ]
The Siam Commercial
Bank Public Co., Ltd.
[Head Office
: 9 Ratchadapisek
Rd., Ladyao, Jatujak,
Bangkok 10900]
EMPLOYMENT
The subject employs
approximately 120 office
staff and sales
staff.
LOCATION
DETAILS
The premise is
rented for administrative office
at the heading address.
Premise is located
in commercial/residential area.
COMMENT
Subject was
formed in 1995 as
a distributor and exporter
of petrochemical products.
Its products are mostly
for industrial users. With
its accumulated experience
for two decades, the
subject has gained
creditability and comprehensive
network in the Thai industry.
Generally, its business
is solid and
growing considerably.
Despite economic
sluggish, subject is
able to maintain
a solid business.
FINANCIAL INFORMATION
The capital was
registered at Bht.
10,000,000 divided into
100,000 shares of
Bht. 100 each, with
the current capital
paid-up at Bht.
5,000,000 or 100,000
shares of Bht.
50 each.
THE SHAREHOLDERS LISTED
WERE : [as at
April 27, 2015] at
Bht. 5,000,000 of
capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
SCG Chemicals Co.,
Ltd. Nationality: Thai Address : 1
Siam Cement Rd.,
Kwaeng Bangsue,
Khet Bangsue, Bangkok |
99,998 |
100.00 |
|
Mrs. Veeranuch
Setthamethikul Nationality: Thai Address :
40/29 Moo 6,
Kukot, Lamlukka,
Pathumthani |
1 |
- |
|
Ms. Chaliya
Bhanubhongs Nationality: Thai Address :
32/29 Ladprao 23 Rd.,
Kwaeng Chankasem,
Khet Chatuchak, Bangkok |
1 |
- |
Total
Shareholders : 3
Share Structure [as at
April 27, 2015]
|
Nationality |
Shareholders |
No.
of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
100,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
100,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Ms. Oranuth
Chaiprasat No. 10732
BALANCE
SHEET [BAHT]
The latest
financial figures published for December 31, 2014, 2013 & 2012 were:
ASSETS
|
Current
Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash
Equivalents |
251,316,607 |
195,223,248 |
171,208,542 |
|
Trade Accounts and Other
Receivable |
7,318,605,335 |
6,045,512,042 |
5,020,080,613 |
|
Short-term Loan to Related Company |
407,685,979 |
- |
- |
|
Goods Available for
Sale |
702,946,563 |
174,927,305 |
368,973,174 |
|
Value Added Tax
Receivable |
573,276,580 |
334,824,389 |
348,726,292 |
|
Other Current Assets
|
166,505,590 |
67,969,156 |
61,085,553 |
|
|
|
|
|
|
Total Current Assets |
9,420,336,654 |
6,818,456,140 |
5,970,074,174 |
|
Investment in
Subsidiaries |
2,607,053,578 |
2,607,053,578 |
2,607,053,578 |
|
Other Long-term Investment |
111,778 |
103,809 |
61,198 |
|
Building and
Equipment |
21,856,657 |
25,527,830 |
19,739,634 |
|
Intangible
Assets |
24,342,289 |
40,598,644 |
60,132,029 |
|
Deferred Expenses |
92,523,511 |
- |
- |
|
Other Non-current
Assets |
252,461 |
447,191 |
594,019 |
|
Total Assets |
12,166,476,928 |
9,492,187,192 |
8,657,654,632 |
LIABILITIES & SHAREHOLDERS' EQUITY
[BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft |
9,456,660 |
10,770,268 |
26,000,128 |
|
Trade Accounts and Other
Payable |
10,612,167,127 |
6,551,571,051 |
5,883,919,441 |
|
Short-term Loan from Related Company |
741,319,093 |
2,443,763,083 |
2,068,650,496 |
|
Accrued Income Tax |
65,254,007 |
28,283 |
69,566,686 |
|
Other Current Liabilities |
7,755,067 |
4,326,801 |
4,048,797 |
|
|
|
|
|
|
Total Current Liabilities |
11,435,951,954 |
9,010,459,486 |
8,052,185,548 |
|
Deferred Income
Tax Liabilities |
28,373,838 |
12,405,601 |
9,316,654 |
|
Provision for Employee
Benefit |
18,774,509 |
16,537,433 |
13,658,700 |
|
Total Liabilities |
11,483,100,301 |
9,039,402,520 |
8,075,160,902 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value Authorized &
issued share capital
100,000 shares |
10,000,000 |
10,000,000 |
10,000,000 |
|
|
|
|
|
|
Capital Paid |
5,000,000 |
5,000,000 |
5,000,000 |
|
Retained Earning Appropriated for Statutory Reserve |
1,000,000 |
1,000,000 |
1,000,000 |
|
Unappropriated |
677,336,163 |
446,750,583 |
576,493,730 |
|
Other Components of
Equity |
40,464 |
34,089 |
- |
|
Total Shareholders'
Equity |
683,376,627 |
452,784,672 |
582,493,730 |
|
Total
Liabilities &
Shareholders' Equity |
12,166,476,928 |
9,492,187,192 |
8,657,654,632 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
93,043,572,666 |
75,083,380,569 |
68,788,922,777 |
|
Other Income |
248,762,990 |
602,312,715 |
189,112,443 |
|
Gain on Exchange Rate |
6,903,022 |
- |
123,006,512 |
|
Total Revenues |
93,299,238,678 |
75,685,693,284 |
69,101,041,732 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
90,648,546,884 |
73,287,635,468 |
66,544,237,250 |
|
Selling Expenses |
1,120,457,927 |
1,022,694,708 |
1,196,721,122 |
|
Administrative
Expenses |
703,205,285 |
686,137,966 |
622,406,566 |
|
Loss on Exchange
Rate |
- |
106,250,133 |
- |
|
Total Expenses |
92,472,210,096 |
1,815,082,807 |
68,363,364,938 |
|
|
|
|
|
|
Profit before Financial Cost & Income Tax |
827,028,582 |
582,975,009 |
737,676,794 |
|
Financial Cost |
[34,907,832] |
[69,375,834] |
[45,496,077] |
|
|
|
|
|
|
Profit before Income Tax |
792,120,750 |
513,599,175 |
692,180,717 |
|
Income Tax |
[121,535,170] |
[73,342,322] |
[121,043,283] |
|
Net Profit / [Loss]
|
670,585,580 |
440,256,853 |
571,137,434 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY
RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.82 |
0.76 |
0.74 |
|
QUICK RATIO |
TIMES |
0.70 |
0.69 |
0.64 |
|
|
|
|
|
|
|
ACTIVITY
RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4,256.99 |
2,941.24 |
3,484.81 |
|
TOTAL ASSETS TURNOVER |
TIMES |
7.65 |
7.91 |
7.95 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
2.83 |
0.87 |
2.02 |
|
INVENTORY TURNOVER |
TIMES |
128.96 |
418.96 |
180.35 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
28.71 |
29.39 |
26.64 |
|
RECEIVABLES TURNOVER |
TIMES |
12.71 |
12.42 |
13.70 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
42.73 |
32.63 |
32.27 |
|
CASH CONVERSION CYCLE |
DAYS |
(11.19) |
(2.37) |
(3.61) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
97.43 |
97.61 |
96.74 |
|
SELLING & ADMINISTRATION |
% |
1.96 |
2.28 |
2.64 |
|
INTEREST |
% |
0.04 |
0.09 |
0.07 |
|
GROSS PROFIT MARGIN |
% |
2.85 |
3.19 |
3.72 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.89 |
98.38 |
1.07 |
|
NET PROFIT MARGIN |
% |
0.72 |
0.59 |
0.83 |
|
RETURN ON EQUITY |
% |
98.13 |
97.23 |
98.05 |
|
RETURN ON ASSET |
% |
5.51 |
4.64 |
6.60 |
|
EARNING PER SHARE |
BAHT |
13,411.71 |
8,805.14 |
11,422.75 |
|
|
|
|
|
|
|
LEVERAGE
RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.94 |
0.95 |
0.93 |
|
DEBT TO EQUITY RATIO |
TIMES |
16.80 |
19.96 |
13.86 |
|
TIME INTEREST EARNED |
TIMES |
23.69 |
1,064.79 |
16.21 |
|
|
|
|
|
|
|
ANNUAL
GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
23.92 |
9.15 |
|
|
OPERATING PROFIT |
% |
(98.88) |
9,913.95 |
|
|
NET PROFIT |
% |
52.32 |
(22.92) |
|
|
FIXED ASSETS |
% |
(14.38) |
29.32 |
|
|
TOTAL ASSETS |
% |
28.17 |
9.64 |
|
ANNUAL
GROWTH : SATISFACTORY
An annual sales growth is 23.92%. Turnover has increased
from THB 75,083,380,569.00 in 2013 to THB 93,043,572,666.00 in 2014. While net
profit has increased from THB
PROFITABILITY
: IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
2.85 |
Deteriorated |
Industrial
Average |
24.12 |
|
Net Profit Margin |
0.72 |
Impressive |
Industrial
Average |
0.60 |
|
Return on Assets |
5.51 |
Impressive |
Industrial
Average |
3.30 |
|
Return on Equity |
98.13 |
Impressive |
Industrial
Average |
12.85 |
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 2.85%. When
compared with the industry average, the ratio of the company was lower. This
indicated that company may have problems with control over its costs.
Net Profit Margin is the indicator of the company's
efficiency in that net profit takes into consideration all expenses of the
company. A low profit margin indicates a low margin of safety, higher risk that
a decline in sales will erase profits and result in a net loss. The company's
figure is 0.72%, 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
5.51%, 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 98.13%, 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
: ACCEPTABLE
LIQUIDITY
RATIO
|
Current Ratio |
0.82 |
Risky |
Industrial
Average |
1.21 |
|
Quick Ratio |
0.70 |
|
|
|
|
Cash Conversion Cycle |
(11.19) |
|
|
|
The Current Ratio is to ascertain whether a company's
short-term assets are readily available to pay off its short-term liabilities.
The company's figure is 0.82 times in 2014, increased from 0.76 times, then the
company may have problems meeting its short-term obligations. When compared
with the industry average, the ratio of the company was lower.
The Quick Ratio is a liquidity indicator that further
refines the current ratio by measuring the amount of the most liquid current
assets there are to cover current liabilities. The company's figure is 0.7
times in 2014, increased from 0.69 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 -12 days.
Trend
of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE
: ACCEPTABLE
LEVERAGE
RATIO
|
Debt Ratio |
0.94 |
Acceptable |
Industrial
Average |
0.73 |
|
Debt to Equity Ratio |
16.80 |
Risky |
Industrial
Average |
2.67 |
|
Times Interest Earned |
23.69 |
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 23.7 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 0.94 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 Downtrend
Times Interest Earned Stable
ACTIVITY
: EXCELLENT
ACTIVITY
RATIO
|
Fixed Assets Turnover |
4,256.99 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
7.65 |
Impressive |
Industrial
Average |
5.48 |
|
Inventory Conversion Period |
2.83 |
|
|
|
|
Inventory Turnover |
128.96 |
Impressive |
Industrial
Average |
19.56 |
|
Receivables Conversion Period |
28.71 |
|
|
|
|
Receivables Turnover |
12.71 |
Impressive |
Industrial
Average |
6.18 |
|
Payables Conversion Period |
42.73 |
|
|
|
The company's Account Receivable Ratio is calculated as
12.71 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 1 day at the end
of 2013 to 3 days at the end of 2014. This represents a negative trend. And
Inventory turnover has decreased from 418.96 times in year 2013 to 128.96 times
in year 2014.
The company's Total Asset Turnover is calculated as 7.65
times and 7.91 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.65.79 |
|
UK Pound |
1 |
Rs.99.95 |
|
Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
|
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.