MIRA
INFORM REPORT
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Report No. : |
347434 |
|
Report Date : |
31.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
CAPSULE PRODUCTS COMPANY
LIMITED |
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Registered Office : |
19/11-14 Soi Wattana, Sukhumvit 19 Road, Klongtoey Nua, Wattana, |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Year of Establishment : |
1980
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Com. Reg. No.: |
0105523009961 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The subject is engaged
in manufacturing service wide
range of capsule products
including empty hard
gelatin capsules and
transparent capsules as
well as pearl
capsules, flavor capsules,
capsules for food
and dietary supplement,
CPV-caps and printing capsules, under
its own brand
“CP” for pharmaceutical, herbal
medicine, herbal foods
and food supplement industries. |
|
|
|
|
No. of Employee : |
120 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Thailand |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
CAPSULE PRODUCTS
COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 19/11-14 SOI
WATTANA, SUKHUMVIT 19
ROAD,
KLONGTOEY NUA,
WATTANA,
BANGKOK 10110,
THAILAND
TELEPHONE : [66] 2250-1586-7, 2250-1886-7
FAX :
[66] 2255-2504
E-MAIL
ADDRESS : capsule@capsuleproducts.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1980
REGISTRATION
NO. : 0105523009961 [Former : 998/2523]
TAX
ID NO. : 3101164541
CAPITAL REGISTERED : BHT.
50,000,000
CAPITAL PAID-UP : BHT.
50,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
APICHAI KITTIVORAVITKUL, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 120
LINES
OF BUSINESS : GELATIN CAPSULE
PRODUCTS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on June
10, 1980 as
a private limited
company under the
registered name CAPSULE
PRODUCTS COMPANY LIMITED
by Thai groups,
in order to
produce wide range
of gelatin capsules
products to both
local and overseas
markets, with GMP
and HACCP practices.
It has obtained quality standard
ISO 9001 : 2008 certification
for the
production by UKAS
and SGS. The subject
currently employs approximately 120 staff.
The subject’s registered
address is 19/11-14
Soi Wattana, Sukhumvit 19 Rd., Klongtoey Nua, Wattana,
Bangkok 10110, and
this is the
company’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Apichai
Kittivoravitkul |
[x] |
Thai |
72 |
|
Mr. Manus Hemstapat |
[x] [-] |
Thai |
65 |
|
Mr. Anake Nitipitikarn |
[x] [-] |
Thai |
67 |
|
Mr. Pichai Nitipitikarn |
|
Thai |
76 |
|
Mr. Patrapong Kittivoravitkul |
[+] |
Thai |
39 |
AUTHORIZED PERSON
Two of the
mentioned directors [x]
can jointly sign,
or the director
[+] can jointly
sign with one
of the directors
[-] on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Apichai
Kittivoravitkul is
the Managing Director.
He is Thai
nationality with the
age of 72
years old.
Mr. Manus Hemstapat is
the Deputy Managing
Director.
He is Thai
nationality with the
age of 65 years
old.
Mr. Patrapong Kittivoravitkul is the
General Manager and
Sales & Marketing Manager.
He is Thai
nationality with the
age of 39
years old.
Mr. Prapun Kittivoravitkul is
the Factory Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged
in manufacturing service wide
range of capsule products
including empty hard
gelatin capsules and
transparent capsules as
well as pearl
capsules, flavor capsules,
capsules for food
and dietary supplement,
CPV-caps and printing capsules, under
its own brand
“CP” for pharmaceutical, herbal
medicine, herbal foods
and food supplement industries.
PURCHASE
60% of raw
materials mainly gelatin,
as well as
chemical and packaging
materials are imported
from United States
of America, Germany,
Canada, India, Japan
and Republic of
China, and the
remaining 40% is
purchased from local
suppliers.
MAJOR SUPPLIER
Technophar
Equipment and Service [2007] Ltd.
: Canada
SALES [LOCAL]
80% of the products
is sold locally
to Thai Government,
manufacturers, wholesalers and end-users.
EXPORT [COUNTRY]
20% of the
products is exported
to overseas manufacturers
in Asian countries
such as Laos,
Republic of China, Malaysia, Vietnam, Australia, Taiwan, Korea, Philippines,
India, South Africa, Indonesia,
Hong Kong, Singapore,
Cambodia and etc.
MAJOR CUSTOMER
The Government Pharmaceutical Organization : Thailand
SUBSIDIARY AND AFFILIATED COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
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 for 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 T/T.
Exports are against
L/C at sight
or T/T.
BANKING
Krung
Thai Bank Public
Co., Ltd.
[Head Office
: 35 Sukhumvit Rd., Klongtoey Nua, Wattana,
Bangkok 10110]
Bangkok Bank Public Co., Ltd.
[Head Office
: 333 Silom Rd., Silom, Bangrak,
Bangkok 10500]
Kasikornbank Public
Co., Ltd.
[Head Office
: 1 Kasikorn Lane, Rajburana Rd., Rajburana, Bangkok
10140]
EMPLOYMENT
The subject employs
approximately 120 office
staff and factory
workers.
LOCATION DETAILS
The premise is owned for administrative office in a 4 storey
building of 4
row shop houses
at the heading
address. Premise is
located in commercial/residential area.
Factory is on 16,000
square meters plot
of land, at 131
Moo 14,
Sukhapibal
2 Rd., Onnuch, Praves, Bangkok
10250. Tel : [66]
2329-1029-30, 2329-1755-9
Fax : [66]
2329-1550
COMMENT
The pharmaceutical and health
products industry has continued growing strong with
higher demand each
year, especially vitamins
and supplement foods.
The company serves
the local and international
markets with its high
quality products for
more than two decades. It has
been enjoying good business
and expanding steadily.
Its business performance
remains moderate and
expanding steadily.
FINANCIAL INFORMATION
The capital was
initially registered at Bht. 1,000,000
divided into 10,000
shares of Bht. 100
each.
The capital was
increased later as
follows :
Bht. 20,000,000
on August 7,
1980
Bht. 25,000,000
on February 19,
1982
Bht. 30,000,000
on April 14,
1982
Bht. 36,000,000
on September 22,
1982
Bht. 50,000,000
on December 1,
1983
The latest registered
capital was increased
to Bht. 50,000,000 divided
into 500,000 shares of Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED WERE
[as at April
24, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Apichai Kittivoravitkul Nationality: Thai Address : 49/1-2
Soi Prasanmitr, Sukhumvit
Rd., Klongtoey, Prakanong, Bangkok |
220,305 |
44.06 |
|
Mr. Manus Hemstapat Nationality: Thai Address : 2 Soi Lertsin 2, Sukhumvit Rd.,
Klongtoey, Prakanong, Bangkok |
76,715 |
15.34 |
|
Mr. Anake Nitipitikarn Nationality: Thai Address : 21/7
Chareonkrung
Rd., Taladnoi, Samphantawong,
Bangkok |
53,006 |
10.60 |
|
Mr. Pichai Nitipitikarn Nationality: Thai Address : 21/7
Chareonkrung
Rd., Taladnoi, Samphantawong, Bangkok |
52,999 |
10.60 |
|
Mrs. Naowarat Kittivoravitkul Nationality: Thai Address : 49/1-2
Soi Prasanmitr, Sukhumvit
Rd., Klongtoey, Prakanong, Bangkok |
42,509 |
8.50 |
|
Ms. Poraya Kunatien Nationality: Thai Address : 91/46
Moo 5, Thakharm, Bangkhunthien, Bangkok |
29,466 |
5.90 |
|
Ms. Sasithorn Kittivoravitkul Nationality: Thai Address : 51/70
Soi Sukhumvit 23, Klongtoey Nua, Wattana, Bangkok |
5,000 |
1.00 |
|
|
|
|
|
Ms. Sasivimol Kittivoravitkul Nationality: Thai Address : 19/11-14
Soi Sukhumvit 19, Klongtoey Nua, Wattana, Bangkok |
5,000 |
1.00 |
|
Mr. Patrapong Kittivoravitkul Nationality: Thai Address : 99/84
Kanchanapisek 010/1,
Kannayao,
Bangkok |
5,000 |
1.00 |
|
Mr. Prapun Kittivoravitkul Nationality: Thai Address : 19/11-14
Soi Sukhumvit 19, Klongtoey Nua, Wattana, Bangkok |
5,000 |
1.00 |
|
Mr. Boworn Kittivoravitkul Nationality: Thai Address : 49/3
Soi Sukhumvit 23, Klongtoey Nua, Wattana, Bangkok |
5,000 |
1.00 |
Total Shareholders : 11
Share Structure [as
at April 24,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
11 |
500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
11 |
500,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mr. Piratchai Pragobsub No. 3082
Financial
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 |
474,765.03 |
194,989.53 |
307,585.71 |
|
Trade Accounts Receivable |
42,804,788.41 |
48,162,074.69 |
41,901,094.31 |
|
Inventories |
104,631,781.65 |
91,876,167.90 |
95,592,183.04 |
|
Other Current Assets
|
5,644,049.80 |
3,799,614.87 |
2,883,125.18 |
|
|
|
|
|
|
Total Current Assets
|
153,555,384.89 |
144,032,846.99 |
140,683,988.24 |
|
Fixed Assets |
133,405,600.12 |
102,371,384.39 |
104,674,427.82 |
|
Total Assets |
286,960,985.01 |
246,404,231.38 |
245,358,416.06 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial Institution |
43,936,302.17 |
28,481,751.49 |
44,306,974.14 |
|
Trade Accounts Payable |
43,027,149.26 |
27,101,119.31 |
36,581,854.52 |
|
Other Current Liabilities |
3,617,705.29 |
3,120,205.58 |
4,512,873.10 |
|
|
|
|
|
|
Total Current Liabilities |
90,581,156.72 |
58,703,076.38 |
85,401,701.76 |
|
|
|
|
|
|
Long-term Loan from Financial Installation |
66,646,430.00 |
56,818,430.00 |
54,672,430.00 |
|
Employees Benefit Obligation |
11,970,384.28 |
11,561,289.37 |
11,427,937.62 |
|
Long-term Liabilities |
28,000,000.00 |
25,000,000.00 |
- |
|
Total Liabilities |
197,197,971.00 |
152,082,795.75 |
151,502,069.38 |
|
|
|
|
|
|
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 for Statutory Reserve |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Unappropriated |
34,763,014.01 |
39,321,435.63 |
38,856,346.68 |
|
Total Shareholders' Equity |
89,763,014.01 |
94,321,435.63 |
93,856,346.68 |
|
Total Liabilities & Shareholders' Equity |
286,960,985.01 |
246,404,231.38 |
245,358,416.06 |
PROFIT &
LOSS ACCOUNT
|
|
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
192,997,268.75 |
180,629,620.03 |
164,711,044.30 |
|
Other Income |
68,601.45 |
111,281.73 |
66,202.52 |
|
Total Revenues |
193,065,870.20 |
180,740,901.76 |
164,777,246.82 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
153,754,541.79 |
144,013,033.72 |
129,079,652.68 |
|
Selling and Administrative Expenses |
31,283,401.78 |
29,944,359.03 |
28,771,606.49 |
|
Total Expenses |
185,037,943.57 |
173,957,392.75 |
157,851,259.17 |
|
|
|
|
|
|
Profit / [Loss] before Interest Expenses & Income Tax |
8,027,926.63 |
6,783,509.01 |
6,925,987.65 |
|
Interest Expenses |
[5,560,359.42] |
[4,519,495.89] |
[4,338,619.21] |
|
Income Tax |
[1,217,682.48] |
[1,052,775.65] |
[1,314,375.09] |
|
|
|
|
|
|
Profit for Year |
1,249,884.73 |
1,211,237.47 |
1,272,993.35 |
|
Gain on Change
Exchange Rate |
[399,211.44] |
[612,796.77] |
773,846.80 |
|
|
|
|
|
|
Net Profit / [Loss] |
850,673.29 |
598,440.70 |
2,046,840.15 |
CAPSULE PRODUCTS
COMPANY LIMITED
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.70 |
2.45 |
1.65 |
|
QUICK RATIO |
TIMES |
0.48 |
0.82 |
0.49 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.45 |
1.76 |
1.57 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.67 |
0.73 |
0.67 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
248.39 |
232.86 |
270.31 |
|
INVENTORY TURNOVER |
TIMES |
1.47 |
1.57 |
1.35 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
80.95 |
97.32 |
92.85 |
|
RECEIVABLES TURNOVER |
TIMES |
4.51 |
3.75 |
3.93 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
102.14 |
68.69 |
103.44 |
|
CASH CONVERSION CYCLE |
DAYS |
227.20 |
261.49 |
259.72 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
79.67 |
79.73 |
78.37 |
|
SELLING & ADMINISTRATION |
% |
16.21 |
16.58 |
17.47 |
|
INTEREST |
% |
2.88 |
2.50 |
2.63 |
|
GROSS PROFIT MARGIN |
% |
20.37 |
20.33 |
21.67 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.16 |
3.76 |
4.20 |
|
NET PROFIT MARGIN |
% |
0.44 |
0.33 |
1.24 |
|
RETURN ON EQUITY |
% |
0.95 |
0.63 |
2.18 |
|
RETURN ON ASSET |
% |
0.30 |
0.24 |
0.83 |
|
EARNING PER SHARE |
BAHT |
1.70 |
1.20 |
4.09 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.69 |
0.62 |
0.62 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.20 |
1.61 |
1.61 |
|
TIME INTEREST EARNED |
TIMES |
1.44 |
1.50 |
1.60 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
6.85 |
9.66 |
|
|
OPERATING PROFIT |
% |
18.34 |
(2.06) |
|
|
NET PROFIT |
% |
42.15 |
(70.76) |
|
|
FIXED ASSETS |
% |
30.32 |
(2.20) |
|
|
TOTAL ASSETS |
% |
16.46 |
0.43 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 6.85%. Turnover has increased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
20.37 |
Impressive |
Industrial
Average |
9.88 |
|
Net Profit Margin |
0.44 |
Deteriorated |
Industrial
Average |
2.82 |
|
Return on Assets |
0.30 |
Deteriorated |
Industrial
Average |
10.26 |
|
Return on Equity |
0.95 |
Deteriorated |
Industrial
Average |
27.05 |
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 20.37%. When compared with
the industry average, the ratio of the company was higher, indicated that
company was more profitable than the same industry.
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 0.44%.
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 0.3%.
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 0.95%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.70 |
Impressive |
Industrial
Average |
1.37 |
|
Quick Ratio |
0.48 |
|
|
|
|
Cash Conversion Cycle |
227.20 |
|
|
|
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 1.7 times in 2014, decreased from 2.45 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 0.48 times in 2014,
decreased from 0.82 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 228 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.69 |
Acceptable |
Industrial
Average |
0.64 |
|
Debt to Equity Ratio |
2.20 |
Risky |
Industrial
Average |
1.77 |
|
Times Interest Earned |
1.44 |
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 1.45 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 0.69 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.45 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.67 |
Deteriorated |
Industrial
Average |
3.64 |
|
Inventory Conversion Period |
248.39 |
|
|
|
|
Inventory Turnover |
1.47 |
Deteriorated |
Industrial
Average |
13.17 |
|
Receivables Conversion Period |
80.95 |
|
|
|
|
Receivables Turnover |
4.51 |
Impressive |
Industrial
Average |
3.31 |
|
Payables Conversion Period |
102.14 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.51 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 233 days at the
end of 2013 to 248 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 1.57 times in year 2013 to 1.47 times
in year 2014.
The company's Total Asset Turnover is calculated as 0.67 times and 0.73
times in 2014 and 2013 respectively. This ratio is determined by dividing total
assets into total sales turnover. The ratio measures the activity of the assets
and the ability of the firm to generate sales through the use of the assets.
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Stable
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.