|
Report No. : |
343814 |
|
Report Date : |
05.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SRI TRANG INTERNATIONAL PTE. LTD. |
|
|
|
|
Registered Office : |
30, Raffles Place, 11-00, Chevron House, 048622 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
09.04.2002 |
|
|
|
|
Com. Reg. No.: |
200202922-R |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of Rubber. |
|
|
|
|
No. of Employee : |
26 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports. Growth in 2014 was slower at 13.9%, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade agreement negotiations and, with the nine other ASEAN members, will form the ASEAN Economic Community in 2015.
|
Source
: CIA |
|
The Subject is a
private limited company and is allowed to have a minimum of one and a maximum
of forty-nine shareholders. As a private limited company, the Subject must
have at least two directors. A private limited company is a separate legal
entity from its shareholders. As a separate legal entity, the Subject is
capable of owning assets, entering into contracts, sue or be sued by other
companies. The liabilities of the shareholders are to the extent of the
equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the Subject is insolvent. The Subject is governed by
the Companies Act and the company must file its annual returns, together with
its financial statements with the Registrar of Companies. The Subject is
principally engaged in the (as a / as an) wholesale of rubber. The immediate
and ultimate holding company of the Subject is SRI TRANG AGRO-INDUSTRY PUBLIC
COMPANY LIMITED, a company incorporated in THAILAND. Share Capital
History
The major shareholder(s)
of the Subject are shown as follows :
+ Also Director The Subject's interest
in other companies (Subsidiaries/Associates) are shown as follow :
DIRECTORS
DIRECTOR 1
DIRECTOR 2
DIRECTOR 3
DIRECTOR 4
DIRECTOR 5
MANAGEMENT
AUDITOR
COMPANY SECRETARIES
BANKING
ENCUMBRANCE
(S)
LITIGATION
CHECK AGAINST SUBJECT
PAYMENT
RECORD
CLIENTELE
OPERATIONS
Other Information:
CURRENT
INVESTIGATION
Latest fresh
investigations carried out on the Subject indicated that :
Other
Investigations
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
18.03% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
21.53% |
] |
|
|
The continuous fall in turnover could be due to the lower demand for
the Subject's products / services.The management had succeeded in turning the
Subject into a profit making company. The profit could be due to better
control of its operating costs and efficiency in utilising its resources.
The Subject's management had generated acceptable return for its
shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
8 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
25 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
3 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding
cost. This had reduced funds being tied up in stocks. The favourable
debtors' days could be due to the good credit control measures implemented
by the Subject. The Subject had a favourable creditors' ratio where the
Subject could be taking advantage of the cash discounts and also wanting to
maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Acceptable |
[ |
0.99 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.23 Times |
] |
|
|
The Subject's liquid ratio was slightly low. This could indicate
that the Subject's working capital was slightly deficient. The Subject will
have to improve its liquidity position either by obtaining short term
financing or increase its paid up capital so that it can meet all its short
term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Favourable |
[ |
16.31 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.61 Times |
] |
|
|
The interest cover showed that the Subject was able to service the
interest. The favourable interest cover could indicate that the Subject was
making enough profit to pay for the interest accrued. The Subject was lowly
geared thus it had a low financial risk. The Subject was mainly financed by
its shareholders' funds and internally generated funds. In times of
economic slowdown / downturn, the Subject being a lowly geared company,
will be able to compete better than those companies which are highly geared
in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the Subject's turnover decreased, its losses also decreased
during the year. This could be the result of more efficient control in its
operating costs. With the favourable interest cover, the Subject could be
able to service all the accrued interest without facing any difficulties.
The Subject as a lowly geared company, will be more secured compared to
those highly geared companies. It has the ability to meet all its long term
obligations. |
||||||
|
Overall financial condition of the Subject
: STABLE |
||||||
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|||||
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|||||
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|||||
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|||||
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|||||
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|||||
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|||||
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|||||
|
* Based on Index of Industrial Production (2011 = 100) |
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade sectors have expanded by 2.0% in the third
quarter of 2014, extending the 1.8 per cent growth in the previous quarter.
In 2013, the wholesale and retail sector expanded by 5.0%, after declining
by 1.4% the year before. Growth of the sector was driven by the wholesale
trade segment. |
|
|
The domestic wholesale trade index has increased by 3.2% in the
fourth quarter of 2013, moderating from the 6.6% growth in the previous
quarter. The slower growth was due to a decline in the sales of furniture
and household equipment (-12%) and petroleum and petroleum products
(-0.6%). For the full year, the domestic wholesale trade index grew by 5.2%
reversing the 2.2% decline in 2012. On the other hand, the foreign
wholesale trade index has increased by a slower pace of 5.6% in the fourth
quarter, compared to the 7.7% expansion in the preceding quarter. The
slowdown was due to a fall in the sales of telecommunication equipment and
computer (-3.8%) and petroleum and petroleum products (-2.5%). For the full
year, the growth of the foreign wholesale trade index moderated slightly to
8.6% from 9.1% in the previous year. |
|
|
In the fourth quarter of 2013, retail sales volume fell by 6.2%,
extending the 5.6% decline in the previous quarter. Excluding motor
vehicles, retail sales volume increased by 0.4%, a slower pace of expansion
as compared to the 1.6% gain in the preceding quarter. The sales volume of
motor vehicles fell by 33% in the fourth quarter of 2013, extending the 32%
decline in the previous quarter. Meanwhile, the sales of several
discretionary items also fell in the fourth quarter of 2013. For instance,
the sales of telecommunications apparatus and computers fell by 12%, while
the sales of furniture and household equipment declined by 5.4%. |
|
|
For the full year, retail sales volume contracted by 4.3%, a
reversal from the 1.3% expansion in 2012. Excluding motor vehicle sales,
the retail sales volume grew by 1.1% in 2013, slower than the 1.7% increase
in 2012. Watches and jewellery recorded the largest increase (11%) in sales
in 2013, followed by optical goods and book (3%) and medical goods and
toiletries (3%). By contrast, the sales of telecommunications apparatus and
computer (-7.3%), furniture and household equipment (-4.2%) and petrol
service stations (-1.4) declined in 2013. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
|
Incorporated
in 2002, the Subject is a Private Limited company, focusing on wholesale of
rubber. Having been in the industry for over a decade, the Subject has
achieved a certain market share and has built up a good reputation in the
market. It should have received supports from its regular customers. With
an issued and paid up capital of USD 52,000,000 and strong backing from its
holding company, the Subject has the ability to further expand its business
in the future compared to other corporation. |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
USD |
USD |
USD |
SGD |
SGD |
|
TURNOVER |
849,221,287 |
1,002,224,296 |
1,332,990,360 |
1,170,625,030 |
657,849,986 |
|
Other Income |
12,769,456 |
15,476 |
2,777,129 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
861,990,743 |
1,002,239,772 |
1,335,767,489 |
1,170,625,030 |
657,849,986 |
|
Costs of Goods Sold |
(843,146,358) |
(992,769,087) |
(1,340,284,834) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
18,844,385 |
9,470,685 |
(4,517,345) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
12,535,669 |
(26,048,521) |
(5,484,333) |
19,570,268 |
2,507,888 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
12,535,669 |
(26,048,521) |
(5,484,333) |
19,570,268 |
2,507,888 |
|
Taxation |
(1,392,959) |
2,321,624 |
(43,181) |
(1,851,619) |
340,390 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
11,142,710 |
(23,726,897) |
(5,527,514) |
17,718,649 |
2,848,279 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
(1,341,650) |
22,385,247 |
27,912,761 |
(11,616,049) |
(14,464,328) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(1,341,650) |
22,385,247 |
27,912,761 |
(11,616,049) |
(14,464,328) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
9,801,060 |
(1,341,650) |
22,385,247 |
6,102,600 |
(11,616,049) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
9,801,060 |
(1,341,650) |
22,385,247 |
6,102,600 |
(11,616,049) |
|
============= |
============= |
============= |
============= |
============= |
|
|
Lease interest |
10,215 |
10,456 |
9,105 |
- |
- |
|
Trust receipts |
808,768 |
888,372 |
1,665,852 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
818,983 |
898,828 |
1,674,957 |
- |
- |
|
|
============= |
============= |
============= |
- |
- |
|
|
DEPRECIATION (as per notes to P&L) |
298,363 |
261,550 |
323,547 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
298,363 |
261,550 |
323,547 |
- |
- |
|
|
============= |
============= |
============= |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,153,392 |
859,625 |
568,070 |
14,001,033 |
19,233,061 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
39,000,000 |
34,000,000 |
34,000,000 |
- |
- |
|
Investment properties |
1,879,100 |
1,879,100 |
1,493,599 |
- |
- |
|
Deferred assets |
957,418 |
2,350,377 |
- |
- |
- |
|
Others |
- |
- |
152,257 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
41,836,518 |
38,229,477 |
35,645,856 |
- |
- |
|
Others |
152,257 |
152,257 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
152,257 |
152,257 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
43,142,167 |
39,241,359 |
36,213,926 |
14,001,033 |
19,233,061 |
|
Stocks |
19,627,792 |
18,268,153 |
49,348,761 |
- |
- |
|
Trade debtors |
57,323,505 |
60,171,473 |
86,923,877 |
- |
- |
|
Other debtors, deposits & prepayments |
1,051,482 |
1,420,665 |
8,886,532 |
- |
- |
|
Short term deposits |
1,203,463 |
2,027,429 |
3,370,078 |
- |
- |
|
Amount due from agents, brokers & reinsurers |
4,280,449 |
7,706,919 |
- |
- |
- |
|
Amount due from holding company |
7,536,833 |
946,989 |
307,607 |
- |
- |
|
Cash & bank balances |
2,644,146 |
3,927,164 |
8,736,043 |
- |
- |
|
Others |
5,992,305 |
7,684,305 |
25,512,384 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
99,659,975 |
102,153,097 |
183,085,282 |
303,939,276 |
157,675,905 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
142,802,142 |
141,394,456 |
219,299,208 |
317,940,309 |
176,908,966 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
7,946,119 |
10,126,483 |
72,818,735 |
- |
- |
|
Other creditors & accruals |
2,146,172 |
812,864 |
1,390,884 |
- |
- |
|
Hire purchase & lease creditors |
- |
- |
60,698 |
- |
- |
|
Deposits from customers |
3,760,902 |
4,279,377 |
853,032 |
- |
- |
|
Bill & acceptances payable |
37,426,337 |
30,027,551 |
63,144,433 |
- |
- |
|
Amounts owing to holding company |
25,351,482 |
40,886,530 |
- |
- |
- |
|
Provision for taxation |
- |
- |
96,151 |
- |
- |
|
Lease payables |
95,681 |
82,806 |
- |
- |
- |
|
Other liabilities |
4,051,935 |
9,398,346 |
16,450,280 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
80,778,628 |
95,613,957 |
154,814,213 |
259,636,301 |
136,393,930 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
18,881,347 |
6,539,140 |
28,271,069 |
44,302,975 |
21,281,975 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
62,023,514 |
45,780,499 |
64,484,995 |
58,304,008 |
40,515,036 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
52,000,000 |
47,000,000 |
42,000,000 |
52,000,000 |
52,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
52,000,000 |
47,000,000 |
42,000,000 |
52,000,000 |
52,000,000 |
|
Retained profit/(loss) carried forward |
9,801,060 |
(1,341,650) |
22,385,247 |
6,102,600 |
(11,616,049) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
9,801,060 |
(1,341,650) |
22,385,247 |
6,102,600 |
(11,616,049) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
61,801,060 |
45,658,350 |
64,385,247 |
58,102,600 |
40,383,951 |
|
Lease obligations |
213,249 |
112,944 |
90,543 |
- |
- |
|
Deferred taxation |
9,205 |
9,205 |
9,205 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
222,454 |
122,149 |
99,748 |
201,408 |
131,085 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
62,023,514 |
45,780,499 |
64,484,995 |
58,304,008 |
40,515,036 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
|||||
|
Cash |
3,847,609 |
5,954,593 |
12,106,121 |
- |
- |
|
Net Liquid Funds |
(33,578,728) |
(24,072,958) |
(51,038,312) |
- |
- |
|
Net Liquid Assets |
(746,445) |
(11,729,013) |
(21,077,692) |
44,302,975 |
21,281,975 |
|
Net Current Assets/(Liabilities) |
18,881,347 |
6,539,140 |
28,271,069 |
44,302,975 |
21,281,975 |
|
Net Tangible Assets |
61,871,257 |
45,628,242 |
64,484,995 |
58,304,008 |
40,515,036 |
|
Net Monetary Assets |
(968,899) |
(11,851,162) |
(21,177,440) |
44,101,567 |
21,150,890 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
37,639,586 |
30,140,495 |
63,295,674 |
- |
- |
|
Total Liabilities |
81,001,082 |
95,736,106 |
154,913,961 |
259,837,709 |
136,525,015 |
|
Total Assets |
142,802,142 |
141,394,456 |
219,299,208 |
317,940,309 |
176,908,966 |
|
Net Assets |
62,023,514 |
45,780,499 |
64,484,995 |
58,304,008 |
40,515,036 |
|
Net Assets Backing |
61,801,060 |
45,658,350 |
64,385,247 |
58,102,600 |
40,383,951 |
|
Shareholders' Funds |
61,801,060 |
45,658,350 |
64,385,247 |
58,102,600 |
40,383,951 |
|
Total Share Capital |
52,000,000 |
47,000,000 |
42,000,000 |
52,000,000 |
52,000,000 |
|
Total Reserves |
9,801,060 |
(1,341,650) |
22,385,247 |
6,102,600 |
(11,616,049) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.05 |
0.06 |
0.08 |
- |
- |
|
Liquid Ratio |
0.99 |
0.88 |
0.86 |
- |
- |
|
Current Ratio |
1.23 |
1.07 |
1.18 |
1.17 |
1.16 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
8 |
7 |
14 |
- |
- |
|
Debtors Ratio |
25 |
22 |
24 |
- |
- |
|
Creditors Ratio |
3 |
4 |
20 |
- |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.61 |
0.66 |
0.98 |
- |
- |
|
Liabilities Ratio |
1.31 |
2.10 |
2.41 |
4.47 |
3.38 |
|
Times Interest Earned Ratio |
16.31 |
(27.98) |
(2.27) |
- |
- |
|
Assets Backing Ratio |
1.19 |
0.97 |
1.54 |
1.12 |
0.78 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
1.48 |
(2.60) |
(0.41) |
1.67 |
0.38 |
|
Net Profit Margin |
1.31 |
(2.37) |
(0.41) |
1.51 |
0.43 |
|
Return On Net Assets |
21.53 |
(54.94) |
(5.91) |
33.57 |
6.19 |
|
Return On Capital Employed |
21.48 |
(54.75) |
(5.90) |
33.57 |
6.19 |
|
Return On Shareholders' Funds/Equity |
18.03 |
(51.97) |
(8.59) |
30.50 |
7.05 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
- |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.55 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.