MIRA INFORM REPORT
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Report No. : |
343478 |
|
Report Date : |
08.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
PTT POLYMER MARKETING COMPANY LIMITED |
|
|
|
|
Registered Office : |
9th Floor, Energy
Complex Tower A, 555/1
Vibhavadee Rangsit Road, Chatuchak, Bangkok
10900 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
24.06.2005 |
|
|
|
|
Com. Reg. No.: |
0105548082506 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in distributing and
exporting wide range
of polymers, specialized
in Polyethylene products,
including High Density
Polyethylene [HDPE], Low
Density Polyethylene
[LDPE], Linear Low Density
Polyethylene [LLDPE], under
the brand “INNOPLUS”, as well
as Polypropylene [PP],
Bioplastic [PLA/PBS] and Polystyrene
[PS] consisting of
GPPS resin [General
Purpose Polystyrene] and
HIPS resin [High Impact
Polystyrene], and others
[Engineering Plastic] such
as PC, PET
and PMMA, under
the brand “DIAREX”. |
|
|
|
|
No. of Employees : |
139 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Thailand |
B1 |
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, 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
PTT POLYMER MARKETING COMPANY LIMITED
SUMMARY
BUSINESS ADDRESS : 9th
FLOOR, ENERGY COMPLEX
TOWER A,
555/1 VIBHAVADEE
RANGSIT ROAD,
CHATUCHAK, BANGKOK
10900, THAILAND
TELEPHONE : [66] 2140-4488
FAX : [66] 2140-4333
E-MAIL ADDRESS : export@pttpm.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2005
REGISTRATION NO. : 0105548082506
TAX ID NO. : 3380090777
CAPITAL REGISTERED : BHT.
40,000,000
CAPITAL PAID-UP : BHT.
40,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MS.
NARONGCHAI PISUTPUNYA, THAI
PRESIDENT
NO. OF STAFF : 139
LINES OF BUSINESS : POLYMER PRODUCTS
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 June
24, 2005 as
a private limited
company under the
registered name PTT
POLYMER MARKETING COMPANY
LIMITED, by Thai groups, to
distribute wide range
of polymer products
to both domestic
and international markets.
It currently employs
139 staff.
Presently, the subject
is a joint
venture among PTT
Public Company Limited
and PTT Global
Chemical Public Company Limited, which
are members of PTT
group of companies, the Thailand’s largest petroleum
and petrochemical company and
the leading petrochemical
producer in Asia.
The subject’s registered
address was initially
at 555 Ardnarong
Rd., Klongtoey,
Bangkok 10110.
On March 2,
2010 the subject’s
registered address was
relocated to 9th Floor,
Energy Complex Tower
A, 555/1 Vibhavadee
Rangsit Rd., Chatuchak,
Bangkok 10900, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sarun Rangkasiri |
[-] |
Thai |
58 |
|
Mr. Pramin Phantawesak |
[-] |
Thai |
61 |
|
Mr. Atthawuth Hiranburana |
[+] |
Thai |
59 |
|
Mr. Narongchai Pisutpunya |
[x] |
Thai |
53 |
|
Mrs. Buppha Amonkiatkajorn |
[-] |
Thai |
57 |
|
Mrs. Sriwan Eiamrungroj |
[+] |
Thai |
57 |
AUTHORIZED PERSON
Only the mentioned
director [x] signs
or anyone of
the mentioned directors
[-] can jointly
sign with anyone
of the directors [+]
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Narongchai Pisutpunya is the
President.
He is Thai
nationality with the
age of 53
years old.
Mr. Saravut Damrichob is
the Vice President,
Finance & Accounting Dept.
He is Thai
nationality.
Mr. Amnuai Phrom-Anant
is the Vice
President, Domestic Sales
Dept.
He is Thai
nationality.
Mr. Charan Siriphornchaikul is
the Acting Vice President, Corporate
Support Dept.
He is Thai
nationality.
Ms. Ratchaneekorn
Auksaranuwong is the
Vice President, Customer
Service Dept.
She is Thai
nationality.
Ms. Somsri Phanichrungruang is
the Vice President,
Export Sales Dept.
She is Thai
nationality.
Mr. Paiboon
Prapussornchaikul is the
Vice President, Specialty
Products Dept.
He is Thai
nationality.
Mr. Watcharasit Reinsriwong is
the Vice President,
Technical Support Dept.
He is Thai
nationality.
Ms. Kamolwan Wongkolkitsilp is
the Vice President,
Marketing Dept.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in distributing
and exporting wide
range of polymers,
specialized in Polyethylene
products, including High
Density Polyethylene [HDPE],
Low Density Polyethylene [LDPE], Linear
Low Density Polyethylene [LLDPE],
under the brand “INNOPLUS”,
as well as Polypropylene [PP], Bioplastic [PLA/PBS]
and Polystyrene [PS] consisting
of GPPS resin
[General Purpose Polystyrene]
and HIPS resin [High
Impact Polystyrene], and
others [Engineering Plastic]
such as PC,
PET and PMMA,
under the brand
“DIAREX”.
PURCHASE
100% of raw
material is purchased
from local suppliers.
MAJOR SUPPLIERS
Bangkok Polyethylene Public
Company Limited
HMC Polymer Company
Limited
IRPC Public Company
Limited
PTT Global Chemical
Public Company Limited
SALES
The products are
sold to customers
both local and overseas, 60%
of the products
is exported to U.S.A., UAE, Republic of China, Korea, Singapore, Taiwan,
Japan, India, Pakistan, Indonesia,
Vietnam, Malaysia, Laos,
Australia, Africa, Middle East
and European countries, the
remaining 40% is
sold locally.
SUBSIDIARY AND
AFFILIATED COMPANY
Polymer Marketing DMCC
Business Type: Distributor
of polymer products
Address : Unit
406, Indigo Tower,
Plot No. D1, Jumeirah
Lake Towers,
P.O. Box
71645, Dubai, U.A.E.
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.
Exports are against
L/C at sight
or T/T.
BANKING
Standard Chartered Bank
[Thai] Public Co.,
Ltd.
Bangkok Bank Public
Co., Ltd.
Siam Commercial Bank
Public Co., Ltd.
Kasikornbank Public Co.,
Ltd.
TMB Bank Public
Co., Ltd.
EMPLOYMENT
The subject currently
employs 139 staff.
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Oversea Offices:
Guangzhou Representative Office
China Shine Office Building, Unit 3803,
Building A, No. 9 Linhexi
Road, Tianhe District,
Guangzhou, 510620, Republic
of China
Ho Chi Minh
City Representative Office
Unit 900, 9th/F., 2A-4A
Ton Duc Thang
Street, Ben Nghe Ward
District 1, Ho Chi Minh
City, Vietnam
Shanghai Representative Office
Room No. 13-012,
13th/F., Hang Seng
Bank Tower, 1000
Lujiazui Ring Road,
Pudong New Area,
Shanghai 200120, Republic
of China
Jakarta Representative Office
Sentral Senayan III,
15th Floor, Jalan
Asia Afrika No. 8,
Gelora Bung Karno,
Tanah Abang, Jakarta
Pusat 10270, Indonesia.
COMMENT
The industry which produces chemicals
using oil and natural gas as
principal raw materials,
plays a prominent role
in the manufacturing
sector and the
production of consumer goods in particular. Petrochemicals can be transformed into thousands of
industrial and consumer
products, from plastic
to paints and
rubber to textiles.
The subject has
been established as an arm of PTT group to
bring with many
advantages for PTT’s wide
portfolio of petrochemical subsidiaries.
It will not
only optimise marketing
management efficiency, but also reinforce
the group’s competitive
edge over its rivals.
The subject provides the most professional sales and marketing services
to PTT Group’s polymer
manufacturing units, which contributes to the company’s growth and solid business. The subject
has solid business
and stable growth.
FINANCIAL INFORMATION
The capital was
registered at Bht. 40,000,000 divided
into 400,000 shares of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE : [as at
June 29, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
PTT Public Company
Limited Nationality: Thai Address : 555
Vibhavadee Rangsit Rd.,
Chatuchak, Bangkok |
200,000 |
50.00 |
|
PTT Global Chemical
Public Company Limited Nationality: Thai Address : 14th-18th Floor,
Energy Complex Tower
A, 555/1 Vibhavadee
Rangsit Rd., Chatuchak,
Bangkok |
196,000 |
49.00 |
|
Solution Creation Co.,
Ltd. Nationality: Thai Address : 40th Floor,
Sun Towers B 123
Vibhavadee Rangsit Rd.,
Chomphon,
Chatuchak, Bangkok |
4,000 |
1.00 |
Total Shareholders : 3
Share Structure [as
at June 29,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
400,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
400,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Ms. Sukhumaporn
Wongariyaporn No. 4843
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 |
862,033,759 |
2,244,929,361 |
2,667,119,456 |
|
Trade Accounts Receivable - Other Company |
4,603,707,274 |
5,571,178,360 |
4,167,853,755 |
|
- Related Company |
239,723,293 |
110,430,363 |
118,979,898 |
|
Account Receivable - Related Company |
22,534,718 |
3,434,716 |
4,717,442 |
|
Inventories |
1,932,175,134 |
441,980,697 |
408,106,997 |
|
Refundable Value Added Tax |
994,438,423 |
641,200,453 |
513,844,832 |
|
Prepayment |
6,551,643 |
2,354,179 |
7,417,326 |
|
Other Current Assets
|
16,900,655 |
16,176,726 |
22,740,427 |
|
|
|
|
|
|
Total Current Assets
|
8,678,064,899 |
9,031,684,855 |
7,910,780,133 |
|
Investment in Subsidiaries |
1,959,695 |
1,959,695 |
1,959,695 |
|
Fixed Assets |
25,959,798 |
18,317,450 |
30,732,207 |
|
Intangible Assets |
59,140,898 |
34,834,245 |
53,612,612 |
|
Other Assets -Deposit
|
10,416,828 |
12,470,320 |
12,320,460 |
|
Deferred Income Tax |
7,508,420 |
6,587,873 |
6,502,421 |
|
Total Assets |
8,783,050,538 |
9,105,854,438 |
8,015,907,528 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
150,000,000 |
- |
- |
|
Trade Accounts Payable - Other Company |
5,657,024 |
4,005,104 |
20,462,115 |
|
- Related Company |
7,469,785,833 |
7,967,952,254 |
7,075,390,491 |
|
Account Payable - Related Company |
103,649,638 |
60,039,232 |
70,428,946 |
|
Current Portion of Financial
Lease Contract Liabilities |
- |
- |
1,333,310 |
|
Advance Income from
Customer |
34,428,641 |
53,804,712 |
123,735,767 |
|
Accrued Expenses |
71,000,753 |
80,092,891 |
63,406,411 |
|
Accrued Income Tax |
14,821,771 |
40,458,063 |
26,090,980 |
|
Other Current Liabilities |
15,261,659 |
23,499,698 |
14,413,880 |
|
|
|
|
|
|
Total Current Liabilities |
7,864,605,319 |
8,229,851,954 |
7,395,261,900 |
|
Reserve for Employee’s
Benefit |
37,542,102 |
32,939,367 |
32,512,105 |
|
Total Liabilities |
7,902,147,421 |
8,262,791,321 |
7,427,774,005 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 400,000 shares |
40,000,000 |
40,000,000 |
40,000,000 |
|
|
|
|
|
|
Capital Paid |
40,000,000 |
40,000,000 |
40,000,000 |
|
Retained Earning |
|
|
|
|
Appropriated for
statutory reserve |
4,000,000 |
- |
- |
|
- Unappropriated |
836,903,117 |
803,063,117 |
548,133,523 |
|
Total Shareholders' Equity |
880,903,117 |
843,063,117 |
588,133,523 |
|
Total Liabilities &
Shareholders' Equity |
8,783,050,538 |
9,105,854,438 |
8,015,907,528 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 [Adjusted] |
2012 |
|
|
|
|
|
|
Sales Income |
89,708,992,781 |
75,645,923,474 |
70,647,856,998 |
|
Other Income |
33,247,181 |
33,904,530 |
49,378,738 |
|
Total Revenues |
89,742,239,962 |
75,679,828,004 |
70,697,235,736 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
88,004,717,127 |
73,996,425,116 |
68,922,935,516 |
|
Selling Expenses |
1,333,595,781 |
1,201,666,769 |
1,336,605,765 |
|
Administrative Expenses |
439,734,012 |
455,646,585 |
415,706,614 |
|
Profit/ [Loss] on Exchange Rate |
[197,322,716] |
[286,924,738] |
[167,063,051] |
|
Total Expenses |
89,580,724,204 |
75,366,813,732 |
70,508,184,844 |
|
|
|
|
|
|
Profit before Financial Cost & Income Tax |
161,515,758 |
313,014,272 |
189,050,892 |
|
Financial Cost |
[1,047,836] |
[1,001,292] |
[116,924] |
|
|
|
|
|
|
Profit before Income Tax |
160,467,922 |
312,012,980 |
188,933,968 |
|
Income Tax |
[32,627,922] |
[61,583,749] |
[41,454,497] |
|
Net Profit / [Loss] |
127,840,000 |
250,429,231 |
147,479,471 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.10 |
1.10 |
1.07 |
|
QUICK RATIO |
TIMES |
0.73 |
0.96 |
0.94 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3,455.69 |
4,129.72 |
2,298.82 |
|
TOTAL ASSETS TURNOVER |
TIMES |
10.21 |
8.31 |
8.81 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
8.01 |
2.18 |
2.16 |
|
INVENTORY TURNOVER |
TIMES |
45.55 |
167.42 |
168.88 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
18.73 |
26.88 |
21.53 |
|
RECEIVABLES TURNOVER |
TIMES |
19.49 |
13.58 |
16.95 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
0.02 |
0.02 |
0.11 |
|
CASH CONVERSION CYCLE |
DAYS |
26.72 |
29.04 |
23.59 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
98.10 |
97.82 |
97.56 |
|
SELLING & ADMINISTRATION |
% |
1.98 |
2.19 |
2.48 |
|
INTEREST |
% |
0.00 |
0.00 |
0.00 |
|
GROSS PROFIT MARGIN |
% |
1.94 |
2.23 |
2.51 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.18 |
0.41 |
0.27 |
|
NET PROFIT MARGIN |
% |
0.14 |
0.33 |
0.21 |
|
RETURN ON EQUITY |
% |
14.51 |
29.70 |
25.08 |
|
RETURN ON ASSET |
% |
1.46 |
2.75 |
1.84 |
|
EARNING PER SHARE |
BAHT |
319.60 |
626.07 |
368.70 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.90 |
0.91 |
0.93 |
|
DEBT TO EQUITY RATIO |
TIMES |
8.97 |
9.80 |
12.63 |
|
TIME INTEREST EARNED |
TIMES |
154.14 |
312.61 |
1,616.87 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
18.59 |
7.07 |
|
|
OPERATING PROFIT |
% |
(48.40) |
65.57 |
|
|
NET PROFIT |
% |
(48.95) |
69.81 |
|
|
FIXED ASSETS |
% |
41.72 |
(40.40) |
|
|
TOTAL ASSETS |
% |
(3.55) |
13.60 |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is 18.59%. Turnover has increased from THB
75,645,923,474.00 in 2013 to THB 89,708,992,781.00 in 2014. While net profit
has decreased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
1.94 |
Satisfactory |
Industrial Average |
2.50 |
|
Net Profit Margin |
0.14 |
Deteriorated |
Industrial Average |
2.35 |
|
Return on Assets |
1.46 |
Deteriorated |
Industrial Average |
5.04 |
|
Return on Equity |
14.51 |
Impressive |
Industrial Average |
12.40 |
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 1.94%. 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 0.14%.
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 1.46%.
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 14.51%, 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.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Downtrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.10 |
Acceptable |
Industrial Average |
1.55 |
|
Quick Ratio |
0.73 |
|
|
|
|
Cash Conversion Cycle |
26.72 |
|
|
|
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 1.1 times in 2014, same figure as
in 2013, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was lower.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there are
to cover current liabilities. The company's figure is 0.73 times in 2014,
decrease from 0.96 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 27 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.90 |
Acceptable |
Industrial Average |
0.55 |
|
Debt to Equity Ratio |
8.97 |
Risky |
Industrial Average |
1.23 |
|
Times Interest Earned |
154.14 |
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 154.15 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 0.9 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 |
3,455.69 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
10.21 |
Impressive |
Industrial Average |
2.14 |
|
Inventory Conversion Period |
8.01 |
|
|
|
|
Inventory Turnover |
45.55 |
Impressive |
Industrial Average |
8.55 |
|
Receivables Conversion Period |
18.73 |
|
|
|
|
Receivables Turnover |
19.49 |
Impressive |
Industrial Average |
3.35 |
|
Payables Conversion Period |
0.02 |
|
|
|
The company's Account Receivable Ratio is calculated as 19.49 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 2 days at the end
of 2013 to 8 days at the end of 2014. This represents a negative trend. And
Inventory turnover has decreased from 167.42 times in year 2013 to 45.55 times
in year 2014.
The company's Total Asset Turnover is calculated as 10.21 times and 8.31
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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.25 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
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.