MIRA INFORM REPORT
|
Report No. : |
342806 |
|
Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
THAI-AMBICA CHEMICALS CO., LTD. |
|
|
|
|
Registered Office : |
7th Floor, Rembrandt Tower Service Apartment, 22 Soi Sukhumvit 20 [Sainampeung], Sukhumvit Road, Klongtoey, Bangkok 10110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
16.07.1980 |
|
|
|
|
Com. Reg. No.: |
0105523012253 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and
Distributor of Dyeing
and Printing Chemicals,
such as Dyestuff,
Pigment, Sulphur Blue,
Sodium Molybdate. |
|
|
|
|
No. of Employees : |
200 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 |
A2 |
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, 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
THAI-AMBICA CHEMICALS CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 7th FLOOR,
REMBRANDT TOWER SERVICE APARTMENT, 22 SOI SUKHUMVIT 20
[SAINAMPEUNG], SUKHUMVIT ROAD, KLONGTOEY,
BANGKOK
10110, THAILAND
TELEPHONE : [66] 2261-5989
FAX :
[66] 2261-5997-8
E-MAIL ADDRESS : tacl@loxinfo.co.th
REGISTRATION ADDRESS : SAME AS
BUSINESS ADDRESS
ESTABLISHED : 1980
REGISTRATION NO. : 0105523012253 [Former
: 1227/2523]
TAX ID NO. : 3101131802
CAPITAL REGISTERED : BHT.
150,000,000
CAPITAL PAID-UP : BHT. 150,000,000
SHAREHOLDER’S PROPORTION : THAI
: 98.83%
INDIAN
: 1.17%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SUPHAT
SIVASRIAUMPHAI, THAI
PRESIDENT AND
MANAGING DIRECTOR
NO. OF STAFF : 200
LINES OF BUSINESS : PRINTING
AND DYEING CHEMICALS
MANUFACTURER,
EXPORTER AND DISTRIBUTOR
CORPORATE
PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR WITH
NORMAL BUSINESS ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject
was established on
July 16, 1980
as a private
limited company under
the registered name
THAI-AMBICA CHEMICALS CO., LTD.,
by Thai-Indian groups, in
order to manufacture
printing and dyeing
chemicals to both local and overseas
markets. The subject has
been granted a promotional privilege from Board of Investment
[BOI]. It currently
employs approximately 200
staff.
In 1997,
the subject attained
the ISO 9002 and
ISO 14001 certification from
M/S KPMG, United States
of America and
also became a
member of ETAD
[The Ecological and Toxicological
Association of Dyes
and Organic Pigment
Manufacturers].
The subject’s
registered address was
initially at 8th Floor, Deewanchan Building,
219/2 Rajawong Rd.,
Chakrawad, Samphantawong, Bangkok
10100.
On July 17,
2013, the subject’s registered
address was relocated
to 7th Floor,
Rembrandt Tower Service
Apartment, 22 Soi
Sukhumvit 20 [Sainampeung], Sukhumvit
Rd., Klongtoey, Bangkok
10110, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Suphat
Sivasriaumphai |
|
Thai |
69 |
|
Mr. Ashok Kumar
Agarwal |
|
Indian |
66 |
AUTHORIZED
PERSON
One of
the above directors
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Suphat
Sivasriaumphai is the
President & Managing
Director.
He is
Thai nationality with
the age of
69 years old.
Mr. Ashok Kumar
Agarwal is
the Vice President.
He is
Indian nationality with
the age of 66
years old.
Mr. Suvir Sivasriaumphai is
the Sales Manager.
He is
Thai nationality
Mr. Shailendra
Singh is
the Export Manager.
He is
Indian nationality.
Mr. Alkesh Shah is the
Plant Manager.
He is
Indian nationality.
BUSINESS
OPERATIONS
The subject’s
activity is a
manufacturer, exporter and
distributor of dyeing
and printing chemicals,
such as dyestuff,
pigment, sulphur blue, sodium molybdate
and etc. Its
products lines comprise
disperse dyes for
polyester, disperse dyes
for acetate, reactive
dyes for cellulosic,
acid dyes for
wool, nylon and
leathers, direct dyes
for cellulosics and
paper, leather dyes,
vat dyes, liquid
disperse and reactive
dyestuff. The products
are supplied to
textile, leather and
optical brightening agents
industries.
PRODUCTION
10,000- 30,000 tons
per annum
PURCHASE
60% of raw
materials and chemicals are
imported from Germany, India, Republic of
China, Taiwan, Japan
and Malaysia, and
the remaining 40%
is purchased through
local agents.
MAJOR SUPPLIERS
|
Name |
Country |
|
China National
Chemical |
: Republic of
China |
|
Vivid Export |
: India |
|
Atul Products |
: India |
|
Mivin Oversea |
: India |
|
Chemi Dyestuff
Industries Pvt. Ltd. |
: India |
EXPORT [COUNTRY]
80% of
its products is
exported to Indonesia,
Hong Kong, Republic
of China,
Malaysia, India,
Singapore, South Korea,
United Kingdom, France,
Belgium,
United States
of America, Pakistan,
Turkey, Argentina, Iran,
Colombia, Sri Lanka
and etc.
SALES [LOCAL]
20% of
its products is
sold locally to
manufacturers and dealers.
MAJOR CUSTOMERS
|
Name |
Country |
|
Sampran Printing
Co., Ltd. |
: Thailand |
|
Chokchai Printing
Co., Ltd. |
: Thailand |
|
Sripaibul Printing
Co., Ltd. |
: Thailand |
|
Lee Wiwat
Printing Co., Ltd. |
: Thailand |
|
Impa Oversea
Co., Ltd. |
: United Kingdom |
|
C & K Co.,
Ltd. |
: Hong Kong |
|
Textilia S.A.S. |
: Colombia |
SUBSIDIARIES
& AFFILIATED COMPANIES
D.K. Holding
Co., Ltd.
Business Type:
Holding Company
Thai Filament
Textiles Co., Ltd.
Business Type:
Textile Factory
D.K. Textile
Co., Ltd.
Business Type:
Textile Factory
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 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.
Imports are
by L/C at
sight or T/T.
Exports are
against L/C at
sight or T/T.
BANKING
Bangkok Bank
Public Co., Ltd.
[Head
Office : 333
Silom Rd., Silom, Bangrak,
Bangkok 10500]
The Siam
Commercial Bank Public Co.,
Ltd.
[Head
Office : 9
Ratchadapisek Rd., Ladyao,
Jatujak, Bangkok 10900]
Hongkong &
Shanghai Banking Corp.
[Bangkok
Office : 64 Silom Rd., Silom,
Bangrak, Bangkok 10500]
Indian Overseas
Bank Ltd.
[Bangkok
Office : 221 Rajawongse Rd.,
Samphantawong, Bangkok 10100]
EMPLOYMENT
The subject
employs approximately 200
staff. [office staff
and factory workers]
LOCATION
DETAILS
The premise is
owned for operating
office at the
heading address. Premise is located
in commercial/residential area.
Factory are
warehouse are located at 199 Moo 3,
K.M. 39, Sukhumvit Rd.,
T. Bangpoomai, A. Muang,
Samutprakarn 10280, on
the land area
of 32,000 square
meters. Tel :
[66] 2323-9754-5 Fax : [66] 2323-9753.
NOTE
Refer to
your given name
“THAI AMBICA CO.,
LTD.”, please be
informed that, the
correct name is
“THAI-AMBICA CHEMICALS CO.,
LTD.”.
COMMENT
All the company’s products are
manufactured and monitored with state-of-the-art technology. More than 60 percent of the production is
exported to premium markets, such as
USA, UK, Germany, France,
Canada, Belgium, Japan
and etc.
Subject has
witnessed persistent increase
in its business
turnover in addition to
secure reliable product
quality in the
previous year. Subject has
built up good-term supply and
attained a strong
business status over
years.
FINANCIAL
INFORMATION
The capital
was registered at
Bht. 25,000,000 divided into
25,000 shares of
Bht. 1,000 each.
The capital
was increased later
as followings:
Bht. 50,000,000
on March 6,
1987
Bht. 70,000,000
on April 4,
1988
Bht.
120,000,000 on April
5, 2000
Bht.
150,000,000 on August
1, 2000
The latest
registered capital was increased
to Bht. 150,000,000 divided into
150,000 shares of
Bht. 1,000 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
[As at April 30, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Shiva Heights
Co., Ltd. Nationality: Thai Address :
22 Sukhumvit 20
Rd., Klongtoey, Bangkok |
80,000 |
53.33 |
|
Shiva Holding
Co., Ltd. Nationality: Thai Address :
219/2 Rajawong Rd.,
Chakrawad, Samphantawong, Bangkok
10100 |
28,750 |
19.17 |
|
Rembrandt Hotel
Corporation Ltd. Nationality: Thai Address :
19 Sukhumvit 18
Rd., Klongtoey, Bangkok |
20,000 |
13.33 |
|
Mr.
Suphat Sivasriaumphai Nationality: Thai Address :
157-159 Vanich 1 Rd.,
Chakrawad, Samphantawong, Bangkok
10100 |
7,875 |
5.25 |
|
Krisana Holding
Co., Ltd. Nationality: Thai Address :
219/2 Rajawong Rd.,
Chakrawad, Samphantawong, Bangkok
10100 |
3,500 |
2.33 |
|
Mr. Kasem
Sivasriaumphai Nationality: Thai Address :
109 Sukhumvit 12 Rd.,
Klongtoey, Bangkok 10100 |
2,000 |
1.33 |
|
Mr. Gripan
Singh Sajdev Nationality: Indian Address :
109 Sukhumvit 12 Rd.,
Klongtoey, Bangkok 10100 |
1,750 |
1.17 |
|
Mr. Prajim
Sajdev Nationality: Thai Address :
109 Sukhumvit 12 Rd.,
Klongtoey, Bangkok 10100 |
1,750 |
1.17 |
|
Mr. Surej
Sajdev Nationality: Thai Address :
109 Sukhumvit 12 Rd.,
Klongtoey, Bangkok 10100 |
1,750 |
1.17 |
|
Mrs. Ratana
Sajdev Nationality: Thai Address :
109 Sukhumvit 12 Rd.,
Klongtoey, Bangkok 10100 |
1,750 |
1.17 |
|
Mr. Pracha
Sivasriaumphai Nationality: Thai Address :
109 Sukhumvit 12 Rd.,
Klongtoey, Bangkok 10100 |
875 |
0.58 |
Total Shareholders
: 11
Share
Structure [as at April
30, 2015]
|
Nationality |
Shareholders |
No.
of Share |
% Shares |
|
|
|
|
|
|
Thai |
10 |
148,250 |
98.83 |
|
Foreign -Indian |
1 |
1,750 |
1.17 |
|
Total |
11 |
150,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Pichit Srimanjanta
No. 1501
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 |
236,734.91 |
374,170.53 |
340,567.73 |
|
Trade Accounts
& Notes Receivable |
195,383,706.22 |
191,867,511.91 |
184,200,372.32 |
|
Inventories |
323,196,092.73 |
296,502,667.30 |
251,319,395.69 |
|
Other Current
Assets |
- |
- |
3,534,582.51 |
|
Total Current
Assets |
518,816,533.86 |
488,744,349.74 |
439,394,918.25 |
|
|
|
|
|
|
Fixed Assets |
103,213,744.69 |
97,386,535.65 |
252,385,954.78 |
|
Total Assets |
622,030,278.55 |
586,130,885.39 |
691,780,873.03 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft
& Short-term Loan from Financial Institutions |
397,701,135.58 |
355,494,980.81 |
168,057,270.74 |
|
Trade
Accounts & Other Payable |
82,658,278.97 |
92,968,572.40 |
161,328,678.89 |
|
Current Portion
of Long-term Loan from Financial Institutions |
36,240,000.00 |
18,840,000.00 |
- |
|
Current Portion
of Financial Lease Contract Liabilities |
1,161,137.44 |
1,148,569.26 |
- |
|
Short-term
Loans |
19,370,678.03 |
19,370,678.03 |
20,146,491.58 |
|
Other Current
Liabilities |
- |
- |
34,947,992.89 |
|
Total Current
Liabilities |
537,131,230.02 |
487,822,800.50 |
384,480,434.10 |
|
|
|
|
|
|
Long-term Loan
from Financial Institutions, Net of
Current Portion |
108,724,466.21 |
129,579,555.72 |
124,960,000.00 |
|
Financial Lease
Contract Liabilities, Net
of Current Portion |
2,602,878.72 |
1,618,485.66 |
- |
|
Employees
Benefits Obligation |
12,802,393.74 |
12,291,816.74 |
- |
|
Total Liabilities
|
661,260,968.69 |
631,312,658.62 |
509,440,434.10 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share
capital : Baht 1,000 value
authorized
and issued share
capital 150,000 shares |
150,000,000.00 |
150,000,000.00 |
150,000,000.00 |
|
Capital Paid |
150,000,000.00 |
150,000,000.00 |
150,000,000.00 |
|
Retained Earning - Unappropriated |
[189,230,690.14] |
[195,181,773.23] |
[162,969,135.24] |
|
Statutory Reserve |
- |
- |
7,500,000.00 |
|
Others |
- |
- |
187,809,574.17 |
|
Total
Shareholders' Equity |
[39,230,690.14] |
[45,181,773.23] |
182,340,438.93 |
|
Total Liabilities
& Shareholders' Equity |
622,030,278.55 |
586,130,885.39 |
691,780,873.03 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
Jan.
1, 2012 - Dec.
31, 2012 |
|
|
|
|
|
|
Sales Income |
645,965,894.04 |
478,894,756.49 |
474,756,608.31 |
|
Other Income |
1,136,845.91 |
1,052,032.07 |
13,215,687.95 |
|
Total Revenues |
647,102,739.95 |
479,946,788.56 |
487,972,296.26 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of
Goods Sold |
555,295,646.79 |
457,169,193.14 |
473,149,698.23 |
|
Selling and
Administrative Expenses |
45,109,618.00 |
46,080,664.09 |
20,840,111.77 |
|
Other Expenses |
- |
- |
1,067,879.97 |
|
Total Expenses
|
600,405,264.79 |
503,249,857.23 |
495,057,689.97 |
|
Profit /
[Loss] before Financial Cost |
46,697,475.16 |
[23,303,068.67] |
[7,085,393.71] |
|
Financial Cost |
[40,746,392.07] |
[24,980,581.61] |
[19,598,443.97] |
|
Net Profit / [Loss] |
5,951,083.09 |
[48,283,650.28] |
[26,683,837.68] |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.97 |
1.00 |
1.14 |
|
QUICK RATIO |
TIMES |
0.36 |
0.39 |
0.48 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS
TURNOVER |
TIMES |
6.26 |
4.92 |
1.88 |
|
TOTAL ASSETS
TURNOVER |
TIMES |
1.04 |
0.82 |
0.69 |
|
INVENTORY
CONVERSION PERIOD |
DAYS |
212.44 |
236.73 |
193.87 |
|
INVENTORY
TURNOVER |
TIMES |
1.72 |
1.54 |
1.88 |
|
RECEIVABLES
CONVERSION PERIOD |
DAYS |
110.40 |
146.24 |
141.62 |
|
RECEIVABLES
TURNOVER |
TIMES |
3.31 |
2.50 |
2.58 |
|
PAYABLES
CONVERSION PERIOD |
DAYS |
54.33 |
74.23 |
124.45 |
|
CASH CONVERSION
CYCLE |
DAYS |
268.51 |
308.74 |
211.04 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS
SOLD |
% |
85.96 |
95.46 |
99.66 |
|
SELLING &
ADMINISTRATION |
% |
6.98 |
9.62 |
4.39 |
|
INTEREST |
% |
6.31 |
5.22 |
4.13 |
|
GROSS PROFIT
MARGIN |
% |
14.21 |
4.76 |
3.12 |
|
NET PROFIT MARGIN
BEFORE EX. ITEM |
% |
7.23 |
(4.87) |
(1.49) |
|
NET PROFIT MARGIN |
% |
0.92 |
(10.08) |
(5.62) |
|
RETURN ON EQUITY |
% |
- |
- |
(14.63) |
|
RETURN ON ASSET |
% |
0.96 |
(8.24) |
(3.86) |
|
EARNING PER SHARE |
BAHT |
39.67 |
(321.89) |
(177.89) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
1.06 |
1.08 |
0.74 |
|
DEBT TO EQUITY
RATIO |
TIMES |
(16.86) |
(13.97) |
2.79 |
|
TIME INTEREST
EARNED |
TIMES |
1.15 |
(0.93) |
(0.36) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
34.89 |
0.87 |
|
|
OPERATING PROFIT |
% |
(300.39) |
228.89 |
|
|
NET PROFIT |
% |
112.33 |
(80.95) |
|
|
FIXED ASSETS |
% |
5.98 |
(61.41) |
|
|
TOTAL ASSETS |
% |
6.12 |
(15.27) |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales
growth is 34.89%. Turnover has increased from THB
PROFITABILITY : RISKY
PROFITABILITY RATIO
|
Gross Profit
Margin |
14.21 |
Acceptable |
Industrial Average |
21.41 |
|
Net Profit Margin |
0.92 |
Deteriorated |
Industrial Average |
4.45 |
|
Return on Assets |
0.96 |
Deteriorated |
Industrial Average |
4.81 |
|
Return on Equity |
- |
|
Industrial Average |
9.16 |
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 14.21%. 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 0.92%. 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 0.96%.
Trend of the average competitors in the same
industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.97 |
Risky |
Industrial Average |
1.70 |
|
Quick Ratio |
0.36 |
|
|
|
|
Cash Conversion
Cycle |
268.51 |
|
|
|
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 0.97 times in 2014,
decreased from 1 time, 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 0.36 times in 2014, decreased from 0.39
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 269 days.
Trend of the average competitors in the same
industry for last 5 years
Current Ratio Uptrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
1.06 |
Risky |
Industrial Average |
0.45 |
|
Debt to Equity Ratio |
(16.86) |
Risky |
Industrial Average |
0.82 |
|
Times Interest
Earned |
1.15 |
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
1.15 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 1.06 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 : SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets
Turnover |
6.26 |
Impressive |
Industrial Average |
- |
|
Total Assets
Turnover |
1.04 |
Satisfactory |
Industrial Average |
1.08 |
|
Inventory
Conversion Period |
212.44 |
|
|
|
|
Inventory
Turnover |
1.72 |
Deteriorated |
Industrial Average |
4.13 |
|
Receivables
Conversion Period |
110.40 |
|
|
|
|
Receivables
Turnover |
3.31 |
Satisfactory |
Industrial Average |
3.73 |
|
Payables
Conversion Period |
54.33 |
|
|
|
The company's Account
Receivable Ratio is calculated as 3.31 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 237 days at the end of 2013 to 212 days at the end of 2014. This
represents a positive trend. And Inventory turnover has increased from 1.54
times in year 2013 to 1.72 times in year 2014.
The company's Total
Asset Turnover is calculated as 1.04 times and 0.82 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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.74 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.