MIRA INFORM REPORT
|
Report No. : |
346771 |
|
Report Date : |
31.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
THAI PLASTIC INDUSTRIES CO., LTD. |
|
|
|
|
Formerly Known As : |
THAI PLASTIC INDUSTRIES LIMITED PARTNERSHIP |
|
|
|
|
Registered Office : |
174 Moo 4, Soi Sributr,
Petchkasem Road, T.
Omnoi, A. Kratumban,
Samutsakorn 74130 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
18.06.1971 |
|
|
|
|
Com. Reg. No.: |
0745554000103 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject’s main business is engaged in manufacturing, importing,
exporting and distributing wide range of
PVC additives and plastic chemicals for
various industries, which
can be divided
into 5 main industrial
divisions comprising, Printing division,
PP bag manufacturing division,
Raincoat manufacturing division,
PVC recycle division
and PVC table
cloth division. |
|
|
|
|
No. of Employees : |
300 |
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.
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 PLASTIC INDUSTRIES CO., LTD.
[FORMER: THAI PLASTIC INDUSTRIES LIMITED PARTNERSHIP]
SUMMARY
BUSINESS ADDRESS : 174 MOO
4, SOI SRIBUTR,
PETCHKASEM ROAD,
T. OMNOI,
A. KRATUMBAN, SAMUTSAKORN 74130,
THAILAND
TELEPHONE : [66] 2420-5578-80, 2420-5155-6
FAX : [66] 2420-5577,
2420-0709
E-MAIL ADDRESS ; sales@tpilp.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1971
REGISTRATION NO. : 0745554000103 [Former
: 0103514010101]
TAX ID NO. : 3752000618
CAPITAL REGISTERED : BHT.
60,000,000
CAPITAL PAID-UP : BHT.
60,000,000
SHAREHOLDER’S PROPORTION : THAI
: 75.00%
INDIAN
: 25.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. MAKWAN CHAILERTBORISUTH, THAI
MANAGING DIRECTOR
NO. OF STAFF : 300
LINES OF BUSINESS : PVC
ADDITIVES AND PLASTIC
CHEMICALS
MANUFACTURER, IMPORTER,
DISTRIBUTOR AND
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
18, 1971 as
a limited partnership
under the registered
name THAI PLASTIC
INDUSTRIES LIMITED PARTNERSHIP
by Thai-Indian partners,
with the business
objective to manufacture,
import and distribute
wide range of PVC
additives and plastic
chemicals for various
industries of both
domestic and international
markets.
On January 10,
2011, its status
was converted to
private limited company, under the name
THAI PLASTIC INDUSTRIES
CO., LTD. It
currently employs approximately 300
staff.
The subject’s registered
address is 174 Moo
4, Soi Sributr,
Petchkasem Rd., T.
Omnoi,
A. Kratumban, Samutsakorn
74130, and this
is the subject’s
current operation address.
BROAD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Makwan
Chailertborisuth |
|
Thai |
78 |
|
Mr. Yaswinder Palsingh |
|
Thai |
63 |
|
Mr. Kartar Singh |
|
Indian |
86 |
|
Mr. Harinder Palsingh Narang |
|
Thai |
57 |
|
Mr. Raja Deepsingh
Jwala |
|
Thai |
48 |
AUTHORIZED PERSON
Any of the
above directors can
sign on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Makwan Chailertborisuth is
the Managing Director.
He is Thai
nationality with the
age of 78 years
old.
Mr. Yaswinder Palsingh is
the Production and
Factory Manager.
He is Thai
nationality with the
age of 63
years old.
BUSINESS OPERATIONS
The subject’s main business is engaged in manufacturing, importing,
exporting and distributing wide range of
PVC additives and plastic chemicals for
various industries, which
can be divided
into 5 main industrial divisions
comprising, Printing division,
PP bag manufacturing
division, Raincoat manufacturing
division, PVC recycle
division and PVC
table cloth division.
The products are
as follows:
1. Manufacturing products
High efficient lubricant
of PVC
Rare earth compound
stabilizer
Ca-Zn non-toxic compound
stabilizer
Stabilizers for PVC
pipes, windows and
profile
Stabilizers for Cable Insulation
Liquid Stabilizers especially
for PVC films
Zinc Stearate
Barium Stearate
Lead Stearate
Dibasic Lead Stearate
Tri Basic Lead
Sulphate
Zinc oxide 99%,
99.5% and 99.7%
Yinyl and PVC
flooring
Plastic sheet
PVC tablecloth
2. Import products
Acetic acid
Stearic acid
Litharge
Barium hydroxide
Calcium hydroxide
Calcium/ Zinc/ Barium/ Lead
Octoate
Magnesium Oxide
Di Basic Lead Sulphate
Paraffin wax
PE wax
Cadmium Octoate
DiPhenol Isodeeyl Phosphate DPDP
Twist Nonyl Phenol Phosphate - TNPP
Bisphenol-A
Rhodiast AB powder/liquid
Chlorinated Paraffin 52%
Rutile BLR
Epoxidiszed soybean oil
Titanium dioxide
Alcamizer
PVC resin
DOP [Dioctyl Phthalate]
DINP [Disononyl Phthalate]
DOA [Bis(2-ethylhexyl) adipate]
TOTM [Tri Octyl Trimellitate]
The subject is
also engaged in
manufacturing and distributing of PP plastic
sacks for agricultural
industry.
PURCHASE
Some of raw
chemicals are purchased
from local suppliers.
IMPORT
Plastic chemicals are
imported from India, Japan, Germany, Italy, Spain,
Australia, France,
Singapore, Republic of
China, and Taiwan.
MAJOR SUPPLIERS
Bayer AG. : Germany
BASF [Thai] Ltd. : Thailand
IRPC Public Company
Limited : Thailand
SALES
80% of the
products is exported
to Africa, Indonesia,
India, Singapore, Malaysia, Philippines, Republic
of China, Cambodia,
Myanmar, Laos, Vietnam,
U.S.A., Taiwan, Canada,
Netherlands, Australia, Hong Kong
and other European
countries, the remaining
20% is sold
locally.
SUBSIDIARY AND AFFILIATED
COMPANY
Thai Nippon Plastic
Ltd.
Business Type :
Manufacturer and distributor of PVC
film products
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.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
The Siam Commercial
Bank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
approximately 300 staff.
LOCATION DETAILS
The premise is
owned for administrative office
and factory at
the heading address.
Premise is located
in provincial.
COMMENT
The subject was formed
in 1971 as a manufacturer
and distributor of PVC
additives and plastic
chemicals. Its products have
been used in
various industries. Its
business performance is
in line with
demand of the products
from various industries.
The subject’s business
performance in 2014 had continued growing
with demand from related
industries.
FINANCIAL INFORMATION
The capital was registered at Bht. 60,000,000 divided
into 600,000 shares of Bht. 100 each with fully
paid.
MAJOR SHAREHOLDERS LISTED:
[as at April
30, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Makwan
Chailertborisuth Nationality: Thai Address : 174
Moo 4, T. Omnoi, A. Kratumban, Samutsakorn
|
112,500 |
18.75 |
|
Mr. Ajit Singh Nationality: Indian Address : 19
Somdejchaopraya Rd., Klongsan, Bangkok |
93,750 |
15.62 |
|
Mr. Raja Deepsingh
Jwala Nationality: Thai Address : 174
Moo 4, T. Omnoi, A. Kratumban, Samutsakorn |
75,000 |
12.50 |
|
Mr. Munmitrsingh Chailertborisuth Nationality: Thai Address : 174
Moo 4, T. Omnoi, A. Kratumban, Samutsakorn |
75,000 |
12.50 |
|
Mr. Yaswinder Palsingh Nationality: Thai Address : 158/2 Sukhumvit Rd.,
Watana, Bangkok |
56,250 |
9.37 |
|
Mr. Harinder Palsingh Narang Nationality: Thai Address : 51/38
Sukhumvit Rd., Klongteoy,
Bangkok |
56,250 |
9.37 |
|
Mr. Kartar Singh Nationality: Indian Address : 158/1
Sukhumvit Rd., Watana, Bangkok |
56,250 |
9.37 |
|
Mr. Sukhvinder Palsingh Narang Nationality: Thai Address : 339
Jakkapetch Rd.,
Wangburapapirom, Bangkok |
37,500 |
6.26 |
|
Mr. Rajan Pal
Singh Nationality: Thai Address : 158/2
Sukhumvit Rd., Klongteoy,
Watana, Bangkok |
37,500 |
6.26 |
Total Shareholders : 9
Share Structure [as
at April 30,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
450,000 |
75.00 |
|
Foreign -Indian |
2 |
150,000 |
25.00 |
|
Total |
9 |
600,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Poonsak Saengsan No. 1910
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
|
97,905,190.94 |
16,768,402.740 |
101,969,268.46 |
|
Bank Payable |
190,990.00 |
- |
- |
|
Trade Account & Other
Receivable |
988,327,522.97 |
818,457,645.21 |
656,830,117.81 |
|
Other Receivable - Refundable Value Added Tax |
43,923,365.32 |
20,185,610.79 |
18,064,805.58 |
|
Loan to Related
Company |
10,600,000.00 |
- |
- |
|
Inventories |
428,659,510.46 |
195,441,611.10 |
202,625,313.79 |
|
Other Current Assets
|
400,230.22 |
301,726.45 |
375,630.63 |
|
|
|
|
|
|
Total Current Assets
|
1,570,006,809.91 |
1,051,154,996.29 |
979,865,136.27 |
|
Fixed Assets |
46,341,634.83 |
49,379,111.30 |
40,562,632.14 |
|
Cash at Bank
pledged as a Collateral |
16,314,135.86 |
16,078,645.41 |
13,813,681.10 |
|
Long-term Deposit |
38,336.45 |
38,336.45 |
38,336.45 |
|
Total Assets |
1,632,700,917.05 |
1,116,651,089.45 |
1,034,279,785.96 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Bank |
516,775,368.74 |
362,909,963.71 |
348,043,564.84 |
|
Trade Account & Other
Payable |
900,624,553.11 |
535,068,450.84 |
507,276,508.63 |
|
Current Portion of Long-term
Liabilities - Loan
from Bank |
10,465,003.02 |
9,660,000.00 |
5,040,000.00 |
|
- Finance
Lease Contract Payable |
249,668.83 |
270,923.84 |
279,513.68 |
|
Other Current Liabilities |
6,954,673.53 |
8,118,298.87 |
9,250,552.70 |
|
|
|
|
|
|
Total Current Liabilities |
1,435,069,267.23 |
916,027,637.26 |
869,890,139.85 |
|
Long-term Loan from
Bank |
19,663,500.00 |
30,128,503.02 |
9,960,000.00 |
|
Finance Lease Contract
Payable |
307,025.95 |
556,906.16 |
- |
|
Total Liabilities |
1,455,039,793.18 |
946,713,046.44 |
879,850,139.85 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par value authorized, issued
and fully paid share
capital 600,000 shares |
60,000,000.00 |
60,000,000.00 |
60,000,000.00 |
|
|
|
|
|
|
Capital Paid |
60,000,000.00 |
60,000,000.00 |
60,000,000.00 |
|
Retained Earning - Unappropriated |
117,661,123.87 |
109,938,043.01 |
94,429,646.11 |
|
Total Shareholders’ Equity |
177,661,123.87 |
169,938,043.01 |
154,429,646.11 |
|
Total Liabilities &
Shareholders’ Equity |
1,632,700,917.05 |
1,116,651,089.45 |
1,034,279,785.96 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales |
2,547,923,501.61 |
2,234,995,730.76 |
2,110,764,420.61 |
|
Transportation Income |
18,595,142.90 |
15,767,127.49 |
18,802,288.77 |
|
Tax Compensation from Export
|
6,222,414.23 |
3,434,539.80 |
1,691,318.32 |
|
Gain on Exchange
Rate |
1,139,322.54 |
- |
10,152,746.71 |
|
Interest Income |
358,107.89 |
402,155.91 |
404,787.01 |
|
Other Income |
321,882.67 |
520,719.05 |
292,667.39 |
|
Total Revenues |
2,574,560,371.84 |
2,255,120,273.01 |
2,142,108,228.81 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
2,475,568,595.67 |
2,143,397,433.78 |
2,040,815,753.59 |
|
Selling Expenses |
33,340,259.58 |
30,395,915.17 |
34,209,573.59 |
|
Administrative Expenses |
21,570,748.07 |
14,469,148.07 |
18,396,727.68 |
|
Total Expenses |
2,530,479,603.32 |
2,188,262,497.02 |
2,093,422,054.86 |
|
|
|
|
|
|
Profit / Loss] before Financial
Cost & Income Tax |
44,080,768.52 |
66,857,775.99 |
48,686,173.95 |
|
Loss from Exchange
Rate |
- |
[13,023,051.67] |
- |
|
Financial Cost |
[31,090,955.01] |
[29,315,304.62] |
[18,944,499.47] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax
|
12,989,813.51 |
24,519,419.70 |
29,741,674.48 |
|
Income Tax |
[5,266,732.65] |
[6,268,069.80] |
[9,588,747.12] |
|
Net Profit / [Loss] |
7,723,080.86 |
18,251,349.90 |
20,152,927.36 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.09 |
1.15 |
1.13 |
|
QUICK RATIO |
TIMES |
0.80 |
0.93 |
0.89 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
54.98 |
45.26 |
52.04 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.56 |
2.00 |
2.04 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
63.20 |
33.28 |
36.24 |
|
INVENTORY TURNOVER |
TIMES |
5.78 |
10.97 |
10.07 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
141.58 |
133.66 |
113.58 |
|
RECEIVABLES TURNOVER |
TIMES |
2.58 |
2.73 |
3.21 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
132.79 |
91.12 |
90.73 |
|
CASH CONVERSION CYCLE |
DAYS |
71.99 |
75.83 |
59.09 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
97.16 |
95.90 |
96.69 |
|
SELLING & ADMINISTRATION |
% |
2.16 |
2.01 |
2.49 |
|
INTEREST |
% |
1.22 |
1.31 |
0.90 |
|
GROSS PROFIT MARGIN |
% |
3.89 |
5.00 |
4.80 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.73 |
2.99 |
2.31 |
|
NET PROFIT MARGIN |
% |
0.30 |
0.82 |
0.95 |
|
RETURN ON EQUITY |
% |
4.35 |
10.74 |
13.05 |
|
RETURN ON ASSET |
% |
0.47 |
1.63 |
1.95 |
|
EARNING PER SHARE |
BAHT |
12.87 |
30.42 |
33.59 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.89 |
0.85 |
0.85 |
|
DEBT TO EQUITY RATIO |
TIMES |
8.19 |
5.57 |
5.70 |
|
TIME INTEREST EARNED |
TIMES |
1.42 |
2.28 |
2.57 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
14.00 |
5.89 |
|
|
OPERATING PROFIT |
% |
(34.07) |
37.32 |
|
|
NET PROFIT |
% |
(57.68) |
(9.44) |
|
|
FIXED ASSETS |
% |
(6.15) |
21.74 |
|
|
TOTAL ASSETS |
% |
46.21 |
7.96 |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is 14%. Turnover has increased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
3.89 |
Deteriorated |
Industrial Average |
21.79 |
|
Net Profit Margin |
0.30 |
Deteriorated |
Industrial Average |
1.03 |
|
Return on Assets |
0.47 |
Deteriorated |
Industrial Average |
2.41 |
|
Return on Equity |
4.35 |
Acceptable |
Industrial Average |
6.33 |
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 3.89%. 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 0.3%. 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 0.47%.
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 4.35%.
Trend of the average
competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.09 |
Satisfactory |
Industrial Average |
1.36 |
|
Quick Ratio |
0.80 |
|
|
|
|
Cash Conversion Cycle |
71.99 |
|
|
|
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 1.09 times in 2014, decreased from 1.15 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 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 0.8 times in 2014,
decreased from 0.93 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 72 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.89 |
Acceptable |
Industrial Average |
0.62 |
|
Debt to Equity Ratio |
8.19 |
Risky |
Industrial Average |
1.66 |
|
Times Interest Earned |
1.42 |
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 1.42 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 0.89 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
54.98 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.56 |
Acceptable |
Industrial Average |
2.33 |
|
Inventory Conversion Period |
63.20 |
|
|
|
|
Inventory Turnover |
5.78 |
Acceptable |
Industrial Average |
8.32 |
|
Receivables Conversion Period |
141.58 |
|
|
|
|
Receivables Turnover |
2.58 |
Deteriorated |
Industrial Average |
5.18 |
|
Payables Conversion Period |
132.79 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.58 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 33 days at the
end of 2013 to 63 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 10.97 times in year 2013 to 5.78
times in year 2014.
The company's Total Asset Turnover is calculated as 1.56 times and 2
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
: |
KAR |
|
|
|
|
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.