MIRA INFORM REPORT
|
Report No. : |
345793 |
|
Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
THAI HANSA WELDING
ELECTRODES CO., LTD. |
|
|
|
|
Registered Office : |
386/2 Moo 1, Soi Bee-Thai, Sukhumvit Road, Bangpoomai, Muang, Samutprakarn 10280 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
26.01.1972 |
|
|
|
|
Com. Reg. No.: |
0105515000641 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Distributor of Welding Electrodes. |
|
|
|
|
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 |
|
|
|
|
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 |
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'etat, 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 HANSA WELDING ELECTRODES CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 386/2
MOO 1, SOI
BEE-THAI, SUKHUMVIT
ROAD,
BANGPOOMAI, MUANG,
SAMUTPRAKARN 10280, THAILAND
TELEPHONE : [66] 2323-0022,
2323-0605-8
FAX :
[66] 2323-9832,
2323-0032
E-MAIL
ADDRESS : info@geminithai.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1972
REGISTRATION
NO. : 0105515000641 [Former: 65/2515]
TAX
ID NO. : 3101048490
CAPITAL REGISTERED : BHT. 50,000,000
CAPITAL PAID-UP : BHT
50,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCALYEAR CLOSING DAT
: DECEMBER 31
LEGAL
STATUS : PRIVATE
LIMITED COMPANY
EXECUTIVE
: MR.
UAYCHAI ABHINORASETH, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 120
LINES
OF BUSINESS : WELDING ELECTRODES
MANUFACTURER, EXPORTER AND DISTRIBUTOR
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
January 26, 1972
as a private
limited company under the
registered name THAI
HANSA WELDING ELECTRODES
CO., LTD., by Abhinoraseth
family. The subject
received promotional
privileges from the Board of
Investment, Thailand to manufacture welding electrode
to both local
and overseas markets. It currently employs approximately 120 staff.
The subject’s registered
address is 386/2 Moo 1, Soi Bee-Thai,
Sukhumvit Rd., Bangpoomai, Muang, Samutprakarn
10280, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Uaychai Abhinoraseth |
|
Thai |
67 |
|
Mr. Abhichart Abhinoraseth |
|
Thai |
57 |
|
Mr. Pairoj Abhinoraseth |
|
Thai |
76 |
|
Mr. Arak Abhinoraseth |
|
Thai |
63 |
|
Mr. Prapin Abhinoraseth |
|
Thai |
54 |
|
Mr. Thawatchai Abhinoraseth |
|
Thai |
61 |
AUTHORIZED
PERSON
Any two of the
above directors can
jointly sign on
behalf of the subject
with
company’s affixed.
MANAGEMENT
Mr. Uaychai Abhinoraseth is the
Managing Director.
He is Thai
nationality with the
age of 67 years
old.
Mr. Abhichart Abhinoraseth is
the General Manager
& Plant Manager.
He is Thai
nationality with the
age of 57
years old.
Mr. Pichapop Apinoraseth is
the Deputy General
Manager & Sales Manager.
He is Thai
nationality.
BUSINESS
OPERATIONS
The subject’s activity
is a manufacturer
of welding electrodes
as the followings:
Mild Steel
High Tensite Steel
Hard Facing Steel
Stainless Steel
Cast Iron, Copper
Alloy and Nickel
Alloy
Low Temperature Service
Steel
Heat Resistant Steel
Corrosion Resistant Steel
Welding Cable
etc.
MAJOR BRANDS
“GEMINI”, “NAKATA”
PRODUCTION
1,600 tons/month
PURCHASE
80% of raw
material is purchased
from local suppliers.
IMPORT [COUNTRIES]
20% of raw
materials such as
mica powder and
steel are imported
from Japan, Singapore, Taiwan, Malaysia,
Germany, India and
Republic of China.
MAJOR SUPPLIERS
|
Name |
Country |
|
|
|
|
Posco-Thainox Public Company
Limited |
Thailand |
|
Hansa Metallwerke AG.
|
Germany |
|
Wiremaker Co., Ltd. |
Thailand |
|
Gemini [Thailand] Co.,
Ltd. |
Thailand |
|
Menam Stainlss Wire
Public Company Limited |
Thailand |
EXPORT [COUNTRIES]
80% of the
products is exported
to United States
of America, Germany,
Singapore,
United Kingdom, France,
Canada, Australia, Vietnam,
Hong Kong, Indonesia,
Brunei, Taiwan, Korea,
Cambodia, Myanmar, Malaysia,
Philippines, Laos, Russia,
Japan, Republic of
China, India, Pakistan,
United Arab Emirates
and other Middle
East countries.
SALES [LOCAL]
20% of the
products is sold
locally to manufacturers, wholesalers
and retailers.
MAJOR CUSTOMERS
Lertvilai & Sons
Co., Ltd. : Thailand
M. C. P. Brothers Co.,
Ltd. : Thailand
Selectrode Industries Inc. : U.S.A.
J. Habib International Ltd. : Pakistan
RELATED
& AFFILIATED COMPANIES
Lertvilai & Sons
Co., Ltd.
Business Type: Trading company
Gemini [Thailand] Co.,
Ltd.
Business Type: Manufacturer of
welding electrodes
M. C. P. Brothers Co.,
Ltd.
Business Type :
Trading company
Thanyanoraseth Co., Ltd.
Business Type :
Manufacturer of welding
electrodes
Triangle Cables [Thailand]
Co., Ltd.
Business Type :
Manufacturer of flexible
power
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 by cash or
on the credits
term of 30-60 days.
Imports are by
L/C at sight
or on the
credits term of
30-60 days and T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office
: 333 Silom Road,
Silom, Bangrak, Bangkok]
The Siam Commercial
Bank Public Co.,
Ltd.
[Taladnoi Branch
: Taladnoi, Samphantawong, Bangkok]
EMPLOYMENT
The
subject currently employs
approximately 120 office, sales
staff and factory
workers.
LOCATION
DETAILS
The premise is
owned for operating
administrative office, factory
and warehouse at
the heading address. Premise is
located in an
industrial area on
12,800 square meters.
COMMENT
The
subject is a
manufacturer, distributor and
exporter of welding electrodes. Most of
products have been served to
industrial sector.
However, many industries
in 2014 had
undergone many changes
and been adjusted
for facing significant
pressures, challenges and extreme
downward trend. The subject
was also adjusted itself
to diminish for
any effect caused
by economic sluggish.
Its operating performance
in 2014 was
considered fair with
an increase in sales
revenue but a
decrease in net
profit at the
end of year.
FINANCIAL
INFORMATION
The capital was
registered at Bht. 1,500,000 divided
into 15,000 shares of Bht. 100 each.
The capital was
increased later as
followings:
Bht. 9,000,000
on December 21,
1981
Bht. 26,000,000
on February 25,
1989
Bht. 50,000,000
on February 15,
1993
The latest registered
capital was increased
to Bht. 50,000,000 divided into 500,000
shares of Bht. 100
each with fully
paid.
MAIN SHAREHOLDERS : [as at August
21, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Kasemsit Abhinoraseth Nationality: Thai Address : 784
Charoenkrung Rd., Samphantawong, Bangkok |
99,983 |
20.00 |
|
Mr. Prapin Abhinoraseth Nationality: Thai Address : 788-790
Charoenkrung Rd.,
Samphantawong, Bangkok |
50,163 |
10.04 |
|
Mr. Sitthiboon Abhinoraseth Nationality: Thai Address : 22
Trok Sunthornpimol, Jarumang,
Rongmuang, Pathumwan, Bangkok |
37,500 |
7.50 |
|
Mr. Tan Abhinoraseth Nationality: Thai Address : 22
Trok Sunthornpimol, Jarumang,
Rongmuang, Pathumwan, Bangkok |
37,500 |
7.50 |
|
Mr. Thawatchai Abhinoraseth Nationality: Thai Address : 164
Soi Ramkhamhaeng 4,
Suanluang, Bangkok |
33,309 |
6.66 |
|
Mr. Visit Abhinoraseth Nationality: Thai Address : 786
Charoenkrung Rd.,
Samphantawong, Bangkok |
33,309 |
6.66 |
|
Mr. Arak Abhinoraseth Nationality: Thai Address : 786
Charoenkrung Rd., Samphantawong, Bangkok |
33,309 |
6.66 |
|
Others |
174,927 |
34.98 |
Total Shareholders : 18
Share Structure [as
at August 21,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
18 |
500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
18 |
500,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Yongyuth Tangsirisa-nguan No.
2400
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 |
15,858,063.82 |
46,826,881.06 |
29,201,819.13 |
|
Trade Accounts & Other Receivable |
174,862,450.33 |
152,438,298.88 |
151,357,271.56 |
|
Inventories &
Packaging |
43,372,718.40 |
6,826,917.97 |
23,114,840.40 |
|
Other Current Assets
|
5,604,925.41 |
4,941,434.60 |
1,688,091.87 |
|
|
|
|
|
|
Total Current Assets
|
239,698,157.96 |
211,033,532.51 |
205,362,022.96 |
|
Fixed Assets |
101,132,895.36 |
82,531,097.11 |
38,062,418.08 |
|
Intangible Assets |
- |
369,315.04 |
769,315.06 |
|
Other Non-current Assets |
3,344,653.91 |
3,247,793.91 |
2,064,043.91 |
|
Total Assets |
344,175,707.23 |
297,181,738.57 |
246,257,800.01 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft &
Short Term Loan from Financial Institution |
15,000,000.00 |
39,000,000.00 |
15,000,000.00 |
|
Trade Accounts & Other Payable |
124,790,342.37 |
83,967,303.65 |
76,791,156.15 |
|
Current Portion of Long-term Liabilities |
6,000,000.00 |
- |
- |
|
Current Portion of Lease
Contract Liabilities |
2,243,120.56 |
2,428,491.65 |
2,089,359.29 |
|
Accrued Income Tax |
63,827.08 |
2,595,856.59 |
1,847,690.06 |
|
Other Current Liabilities |
474,779.62 |
423,417.57 |
330,722.84 |
|
|
|
|
|
|
Total Current Liabilities |
148,572,069.63 |
128,415,069.46 |
96,058,928.34 |
|
|
|
|
|
|
Long-term Loans |
20,500,000.00 |
- |
- |
|
Lease Contract Liabilities, Net
of Current Portion |
1,971,273.89 |
3,233,835.97 |
3,474,944.13 |
|
Employee Benefit Obligation |
7,805,198.42 |
7,046,427.82 |
6,863,060.23 |
|
Total Liabilities |
178,848,541.94 |
138,695,333.25 |
106,396,932.70 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 500,000 shares |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
|
|
|
|
|
Capital Paid |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Retained Earning Appropriated Statutory
Reserve |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Unappropriated |
110,327,165.29 |
103,486,405.32 |
84,860,867.31 |
|
Total Shareholders' Equity |
165,327,165.29 |
158,486,405.32 |
139,860,867.31 |
|
Total Liabilities &
Shareholders' Equity |
344,175,707.23 |
297,181,738.57 |
246,257,800.01 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
485,427,539.19 |
432,774,070.85 |
492,372,070.08 |
|
Services Income |
7,033,821.41 |
8,288,139.84 |
4,893,914.53 |
|
Gain on Disposal
of Assets |
2,186,909.90 |
234,683.67 |
280,373.83 |
|
Gain on Exchange
Rate |
- |
580,773.51 |
285,676.65 |
|
Other Income |
764,535.64 |
371,622.00 |
2,141,179.62 |
|
Total Revenues |
495,412,806.14 |
442,249,289.87 |
499,973,214.71 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
408,022,210.52 |
365,504,570.11 |
425,557,365.11 |
|
Selling Expenses |
30,766,120.57 |
29,125,281.55 |
28,008,264.53 |
|
Administrative Expenses |
41,376,783.03 |
22,177,950.22 |
22,303,426.62 |
|
Other Expenses |
170,457.73 |
- |
- |
|
Total Expenses |
480,335,571.85 |
416,807,801.88 |
475,869,056.26 |
|
|
|
|
|
|
Profit/[Loss] before Financial Costs & Income Tax |
15,077,234.29 |
25,441,487.99 |
24,104,158.45 |
|
Financial Costs |
[4,411,249.88] |
[1,792,006.01] |
[891,564.01] |
|
|
|
|
|
|
Profit/[Loss] before Income Tax |
10,665,984.41 |
23,649,481.98 |
23,212,594.44 |
|
Income Tax |
[2,825,224.44] |
[5,023,943.97] |
[5,806,656.38] |
|
Net Profit / [Loss] |
7,840,759.97 |
18,625,538.01 |
17,405,938.06 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.61 |
1.64 |
2.14 |
|
QUICK RATIO |
TIMES |
1.28 |
1.55 |
1.88 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.87 |
5.34 |
13.06 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.43 |
1.48 |
2.02 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
38.80 |
6.82 |
19.83 |
|
INVENTORY TURNOVER |
TIMES |
9.41 |
53.54 |
18.41 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
129.60 |
126.15 |
111.10 |
|
RECEIVABLES TURNOVER |
TIMES |
2.82 |
2.89 |
3.29 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
111.63 |
83.85 |
65.86 |
|
CASH CONVERSION CYCLE |
DAYS |
56.77 |
49.12 |
65.06 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
82.85 |
82.87 |
85.58 |
|
SELLING & ADMINISTRATION |
% |
14.65 |
11.63 |
10.12 |
|
INTEREST |
% |
0.90 |
0.41 |
0.18 |
|
GROSS PROFIT MARGIN |
% |
17.75 |
17.40 |
14.96 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.06 |
5.77 |
4.85 |
|
NET PROFIT MARGIN |
% |
1.59 |
4.22 |
3.50 |
|
RETURN ON EQUITY |
% |
4.74 |
11.75 |
12.45 |
|
RETURN ON ASSET |
% |
2.28 |
6.27 |
7.07 |
|
EARNING PER SHARE |
BAHT |
15.68 |
37.25 |
34.81 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.52 |
0.47 |
0.43 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.08 |
0.88 |
0.76 |
|
TIME INTEREST EARNED |
TIMES |
3.42 |
14.20 |
27.04 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
11.65 |
(11.30) |
|
|
OPERATING PROFIT |
% |
(40.74) |
5.55 |
|
|
NET PROFIT |
% |
(57.90) |
7.01 |
|
|
FIXED ASSETS |
% |
22.54 |
116.83 |
|
|
TOTAL ASSETS |
% |
15.81 |
20.68 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 11.65%. Turnover has increased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
17.75 |
Deteriorated |
Industrial
Average |
58.23 |
|
Net Profit Margin |
1.59 |
Deteriorated |
Industrial
Average |
3.46 |
|
Return on Assets |
2.28 |
Acceptable |
Industrial
Average |
4.48 |
|
Return on Equity |
4.74 |
Deteriorated |
Industrial
Average |
11.15 |
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 17.75%. 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 1.59%.
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 2.28%.
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. When compared with the
industry average, it was lower, the company's figure is 4.74%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.61 |
Impressive |
Industrial
Average |
1.15 |
|
Quick Ratio |
1.28 |
|
|
|
|
Cash Conversion Cycle |
56.77 |
|
|
|
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 1.61 times in 2014, decrease from 1.64 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was higher, indicated that company
was an efficient operator in a dominant position within its industry.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 1.28 times in 2014,
decrease from 1.55 times, although excluding inventory so the company still
have good short-term financial strength.
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 57 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.52 |
Impressive |
Industrial
Average |
0.66 |
|
Debt to Equity Ratio |
1.08 |
Satisfactory |
Industrial
Average |
1.88 |
|
Times Interest Earned |
3.42 |
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 3.42 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 0.52 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 Uptrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
4.87 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.43 |
Impressive |
Industrial
Average |
1.14 |
|
Inventory Conversion Period |
38.80 |
|
|
|
|
Inventory Turnover |
9.41 |
Impressive |
Industrial
Average |
1.24 |
|
Receivables Conversion Period |
129.60 |
|
|
|
|
Receivables Turnover |
2.82 |
Acceptable |
Industrial
Average |
4.83 |
|
Payables Conversion Period |
111.63 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.82 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 7 days at the end
of 2013 to 39 days at the end of 2014. This represents a negative trend. And
Inventory turnover has decreased from 53.54 times in year 2013 to 9.41 times in
year 2014.
The company's Total Asset Turnover is calculated as 1.43 times and 1.48
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.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
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.