MIRA INFORM REPORT
|
Report No. : |
338362 |
|
Report Date : |
02.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUMMIT FOOTWEAR CO., LTD. |
|
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|
Formerly Known As : |
Summit Autoseats and Parts Co., Ltd. |
|
|
|
|
Registered Office : |
5/4 Moo
1, Bangna-trad Road, K.M. 16, T.
Bangchalong, A. Bangplee,
Samutprakarn 10270, |
|
|
|
|
Country : |
Thailand |
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|
|
|
Financials (as on) : |
31.12.2014 |
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|
|
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Date of Incorporation : |
01.06.1979 |
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Com. Reg. No.: |
0115522000260 |
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Legal Form : |
Private Limited Company |
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|
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Line of Business : |
Subject
is engaged in manufacturing various styles of footwear particularly sandals
for both domestic and export markets such as shell sandals, birel sandals, leather sandals, varennel loafers,
men-women-kids sandals. |
|
|
|
|
No. of Employees : |
1600 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 |
B1 |
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’�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
SUMMIT FOOTWEAR
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 5/4 MOO
1, BANGNA-TRAD ROAD,
K.M. 16,
T.
BANGCHALONG, A. BANGPLEE,
SAMUTPRAKARN 10270,
THAILAND
TELEPHONE : [66] 2337-0015-20
FAX : [66] 2337-0844,
2337-0294, 2337-0298
E-MAIL ADDRESS ; sale@aerosoftshoe.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1979
REGISTRATION NO. : 0115522000260 [Former
: SOR. POR. 24]
TAX
ID NO. : 3271003954
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 : MR.
KOMOL JUNGRUNGREANGKIT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 1,600
LINES OF
BUSINESS : FOOTWEAR PRODUCTS
MANUFACTURER, DISTRIBUTOR
& 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 1, 1979
as a private limited
company under the
registered name “Summit
Autoseats and Parts
Co., Ltd.” by
Thai group, with
the initial aim
to manufacture autoseat
products.
On
December 1994, the
subject’s name was
changed to “Summit Footwears and
Seats Co., Ltd.” On
June 18, 2001,
its name was
finally changed to SUMMIT
FOOTWEAR CO., LTD.,
in order to manufacture
various styles of
footwear for both
local and overseas
markets. It currently
employs approximately 1,600
staff.
The
subject’s registered address
is at 5/4
Moo 1, Bangna-Trad
Rd., K.M. 16,
T. Bangchalong, A. Bangplee,
Samutprakarn 10270, and
this is the
company’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr.
Komol Jungrungreangkit |
[x] |
Thai |
64 |
|
Ms.
Suvimol Thongkorn |
|
Thai |
58 |
|
Ms.
Thiemjai Sasisart |
|
Thai |
58 |
|
Ms.
Kulchulee Sujjavata |
|
Thai |
49 |
|
Mrs.
Saowanee Chitsantisuk |
|
Thai |
55 |
|
Ms.
Puripas Jungrungreangkit |
[x] |
Thai |
30 |
AUTHORIZED
PERSON
One
of the mentioned
directors [x] can
sign or any
two the rest
directors can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Komol Jungrungreangkit is
the Managing Director.
He
is Thai nationality
with the age
of 64 years
old.
Ms.
Suvimol Thongkorn is
the Deputy Managing
Director and Factory
Manager.
She
is Thai nationality
with the age
of 58 years
old.
Ms. Kanthicha
Kantavanich
is the Marketing
Manager [Overseas].
She
is Thai nationality.
Mrs.
Saowanee Chitsantisuk is
the General and
Marketing Manager [Local].
She
is Thai nationality
with the age
of 55 years
old.
BUSINESS
OPERATIONS
The subject is
engaged in manufacturing
various styles of
footwear particularly sandals for
both domestic and export markets
such as shell sandals,
birel sandals, leather
sandals, varennel loafers,
men-women-kids sandals
PRODUCTION
CAPACITY
2,000,000 pairs/month
MAJOR
BRANDS
“AEROSOFT”
- Trademark
“Dunlop”,
“Scholl”, “Heel Care”
- for overseas markets
PURCHASE
Most
of raw materials
and accessories are
purchased from local
suppliers and agents,
the remaining is
imported from Republic
of China and
Taiwan.
SALES
80%
of the products
is sold locally
by wholesale to
dealers and department
stores nationwide, and the
remaining 20% is
exported to Nigeria,
Bangladesh, Singapore, Vietnam,
India, Turkey, Hong
Kong, Pakistan, Myanmar,
Kenya, Denmark, Germany,
Bahrain, Yemen, Oman,
Laos, United Arab
Emirates, Israel, Qatar,
Nepal, and South
Africa.
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.
SUBSIDIARY
AND AFFILIATED COMPANY
The
subject is not
found to have
any subsidiary or
affiliated company here
in Thailand.
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 T/T.
Exports
are against T/T.
BUSINESS
TRANSACTION
Most
of the products
are sold by
credit with the
maximum credit given
at 30-60 days.
The subject is
found to have
delay payment by some customers, but they
can negotiate.
BANKING
Bank of
Ayudhya Public Co.,
Ltd.
[Head
Office : 1222
Rama 3 Rd.,
Bangpongpang, Yannawa, Bangkok
10120]
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
1,600 office staff and
factory workers.
LOCATION
DETAILS
The
premise is owned for administrative office,
factory I and warehouse on
approximately 40,000 square
meters of area
at the heading
address. Premise is located
in industrial area.
Other
Factory / Warehouses
-
5/7 Moo 1,
Bangna-Trad Rd., K.M. 16, T.
Bangchalong, A. Bangplee,
Samutprakarn 10270.
-
5/9 Moo 1, Bangna-Trad Rd.,
K.M. 16, T. Bangchalong, A. Bangplee,
Samutprakarn 10270.
COMMENT
At the beginning the subject had operated as
an automobile seat manufacture, but later has changed its production to
footwear products. However, the raw
materials are still the same as auto
seats materials are
PVC and genuine leather.
Decline domestic consumption
had also affected
the subject’s sales
in the previous
year, while the
market situation in
2015 remains hazy.
FINANCIAL
INFORMATION
The
capital was initially
registered at Bht.
5,000,000 divided into
50,000 shares of
Bht. 100 each.
The
capital was increased
later as follows:
Bht.
9,000,000 on November
18, 1981
Bht.
15,000,000 on January
28, 1983
Bht.
21,000,000 on January
21, 1986
Bht.
40,000,000 on June
12, 1998
The latest
registered capital was increased to Bht. 40,000,000 divided
into 400,000 shares of Bht. 100
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
[as
at April 30,
2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr.
Komol Jungrungreangkit Nationality: Thai Address
: 5/7 Moo
1, Bangna-Trad Rd., K.M.
16, T. Bangchalong, A. Bangplee, Samutprakarn |
388,100 |
97.03 |
|
Ms. Arisda Jungrungreangkit
Nationality : Thai Address
: 21/432 Bangna-Trad
Rd., Bangna, Bangkok |
11,700 |
2.93 |
|
Summitland Co., Ltd. Nationality : Thai Address
: 13/11, 13/129-130 Moo 1,
Srinakarin Rd., Nongbon, Pravet,
Bangkok 10250 |
100 |
0.02 |
|
Ms. Suvimol Thongkorn Nationality : Thai Address
: 95/2 Moo
2, Sukhumvit 107
Rd., T. Samrongnua, A. Muang,
Samutprakarn |
100 |
0.02 |
Total Shareholders
: 4
Share
Structure
[as
at April 30,
2015]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
400,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
4 |
400,000 |
100.00 |
NAME
OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Ms.
Pranee Pholngam No.
4987
BALANCE
SHEET [BAHT]
The
latest financial figures published as
at December 31,
2014, 2013 & 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash
and Cash Equivalents |
113,160,026.99 |
174,377,751.18 |
175,664,031.05 |
|
Short-term Investment |
737,677,474.57 |
782,260,877.69 |
691,354,791.69 |
|
Trade
Accounts & Other
Receivable |
604,210,434.49 |
340,153,270.79 |
313,728,134.94 |
|
Short-term Loan to Related Company |
2,000,000.00 |
- |
- |
|
Inventories |
455,043,005.99 |
243,865,898.81 |
224,313,265.45 |
|
Revenue Department Receivable |
21,824,555.40 |
99,466,788.93 |
44,706,149.52 |
|
Other
Current Assets |
2,360,610.77 |
2,993,300.19 |
1,839,935.39 |
|
|
|
|
|
|
Total
Current Assets |
1,936,276,108.21 |
1,643,117,887.59 |
1,451,606,308.04 |
|
|
|
|
|
|
Long-term Investment |
852,032,230.00 |
478,606,398.49 |
278,606,398.49 |
|
Fixed Assets |
239,196,671.72 |
231,803,769.59 |
243,396,323.47 |
|
Intangible Assets |
428,174.62 |
908,527.25 |
1,470,554.76 |
|
Other
Non - current Assets |
13,556,925.87 |
14,279,374.08 |
11,694,047.63 |
|
Total
Assets
|
3,041,490,110.42 |
2,368,715,957.00 |
1,986,773,632.39 |
LIABILITIES & SHAREHOLDERS’
EQUITY [BAHT]
|
Current Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan
From Financial Institutions |
32,966,448.88 |
40,657,813.18 |
46,181,331.84 |
|
Trade
Accounts & Other Payable
|
335,078,737.49 |
190,391,984.54 |
141,764,011.50 |
|
Current
Portion of Financial Lease
Contract Liabilities |
- |
432,000.00 |
432,000.00 |
|
Accrued Income Tax |
1,357,074.08 |
49,373,530.14 |
86,388,609.63 |
|
Other
Current Liabilities |
1,754,073.00 |
3,631,169.81 |
4,059,369.80 |
|
|
|
|
|
|
Total Current Liabilities |
371,156,333.45 |
284,486,497.67 |
278,825,322.77 |
|
Financial Lease Contract Liabilities, Net |
- |
40,500.00 |
472,500.00 |
|
Total
Liabilities |
371,156,333.45 |
284,526,997.67 |
279,297,822.77 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share
capital : Baht 100 par
value
authorized and issued
share capital 400,000
shares |
40,000,000.00 |
40,000,000.00 |
40,000,000.00 |
|
|
|
|
|
|
Capital
Paid |
40,000,000.00 |
40,000,000.00 |
40,000,000.00 |
|
Retained Earnings -Unappropriated |
2,247,020,420.54 |
2,044,188,959.33 |
1,667,475,809.62 |
|
Other Components of
Equity |
383,313,356.43 |
- |
- |
|
Total
Shareholders' Equity |
2,670,333,776.97 |
2,084,188,959.33 |
1,707,475,809.62 |
|
Total
Liabilities &
Shareholders'
Equity |
3,041,490,110.42 |
2,368,715,957.00 |
1,986,773,632.39 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales
Income |
2,781,313,105.19 |
2,916,817,318.29 |
3,126,960,805.03 |
|
Gain on Exchange Rate |
11,367,994.94 |
95,821,958.61 |
- |
|
Gain on Sales of Investment |
30,234,750.08 |
- |
- |
|
Other
Income |
15,395,953.06 |
19,113,913.28 |
12,215,916.90 |
|
Total
Revenues |
2,838,311,803.27 |
3,031,753,190.18 |
3,139,176,721.93 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost
of Goods Sold
|
2,400,010,251.25 |
2,385,226,695.69 |
2,392,572,812.82 |
|
Selling
Expenses |
105,432,082.60 |
108,642,656.57 |
71,802,651.60 |
|
Administrative Expenses |
75,094,695.29 |
63,009,826.53 |
71,920,688.75 |
|
Total Expenses |
2,580,537,029.14 |
2,556,879,178.79 |
2,536,296,153.17 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost
& Income Tax |
257,774,774.13 |
474,874,011.39 |
602,880,568.76 |
|
Financial Cost |
[499,456.09] |
[248,800.22] |
[353,986.09] |
|
Profit / [Loss] before
Income Tax |
257,275,318.04 |
474,625,211.17 |
602,526,582.67 |
|
Income
Tax |
[54,443,856.83] |
[97,912,061.46] |
[138,503,917.44] |
|
|
|
|
|
|
Net
Profit / [Loss] |
202,831,461.21 |
376,713,149.71 |
464,022,665.23 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
5.22 |
5.78 |
5.21 |
|
QUICK RATIO |
TIMES |
3.93 |
4.56 |
4.23 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
11.63 |
12.58 |
12.85 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.91 |
1.23 |
1.57 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
69.20 |
37.32 |
34.22 |
|
INVENTORY TURNOVER |
TIMES |
5.27 |
9.78 |
10.67 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
79.29 |
42.57 |
36.62 |
|
RECEIVABLES TURNOVER |
TIMES |
4.60 |
8.58 |
9.97 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
50.96 |
29.13 |
21.63 |
|
CASH CONVERSION CYCLE |
DAYS |
97.54 |
50.75 |
49.21 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
86.29 |
81.77 |
76.51 |
|
SELLING & ADMINISTRATION |
% |
6.49 |
5.88 |
4.60 |
|
INTEREST |
% |
0.02 |
0.01 |
0.01 |
|
GROSS PROFIT MARGIN |
% |
15.76 |
22.17 |
23.88 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
9.27 |
16.28 |
19.28 |
|
NET PROFIT MARGIN |
% |
7.29 |
12.92 |
14.84 |
|
RETURN ON EQUITY |
% |
7.60 |
18.07 |
27.18 |
|
RETURN ON ASSET |
% |
6.67 |
15.90 |
23.36 |
|
EARNING PER SHARE |
BAHT |
507.08 |
941.78 |
1,160.06 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.12 |
0.12 |
0.14 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.14 |
0.14 |
0.16 |
|
TIME INTEREST EARNED |
TIMES |
516.11 |
1,908.66 |
1,703.12 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(4.65) |
(6.72) |
|
|
OPERATING PROFIT |
% |
(45.72) |
(21.23) |
|
|
NET PROFIT |
% |
(46.16) |
(18.82) |
|
|
FIXED ASSETS |
% |
3.19 |
(4.76) |
|
|
TOTAL ASSETS |
% |
28.40 |
19.22 |
|
ANNUAL
GROWTH : ACCEPTABLE
An annual sales growth is -4.65%. Turnover
has decreased from THB
PROFITABILITY
: EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
15.76 |
Impressive |
Industrial Average |
0.98 |
|
Net Profit Margin |
7.29 |
Impressive |
Industrial Average |
(1.68) |
|
Return on Assets |
6.67 |
Impressive |
Industrial Average |
(2.14) |
|
Return on Equity |
7.60 |
Impressive |
Industrial Average |
(69.72) |
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 15.76%. 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 7.29%,
higher figure when compared with those
of its average competitors in the same industry, indicated that business was an
efficient operator in a dominant
position within its industry.
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. Return on Assets ratio is 6.67%, 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.
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 7.6%, higher figure when compared with those of its
average competitors in the same industry, indicated that business was an
efficient profits 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
: SATISFACTORY
LIQUIDITY
RATIO
|
Current Ratio |
5.22 |
Impressive |
Industrial Average |
0.98 |
|
Quick Ratio |
3.93 |
|
|
|
|
Cash Conversion Cycle |
97.54 |
|
|
|
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 5.22 times in 2014, decreased from 5.78 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
3.93 times in 2014, decreased from 4.56
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 98 days.
Trend of
the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE
: EXCELLENT
LEVERAGE
RATIO
|
Debt Ratio |
0.12 |
Impressive |
Industrial Average |
0.97 |
|
Debt to Equity Ratio |
0.14 |
Impressive |
Industrial Average |
26.16 |
|
Times Interest Earned |
516.11 |
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 lower the percentage means that
the company is using less leverage and has a stronger equity position.
Times Interest Earned measuring a company's
ability to meet its debt obligations. Ratio is 516.12 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 0.12
less than 0.5, most of the company's assets are financed through equity.
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 |
11.63 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.91 |
Acceptable |
Industrial Average |
1.47 |
|
Inventory Conversion Period |
69.20 |
|
|
|
|
Inventory Turnover |
5.27 |
Impressive |
Industrial Average |
3.44 |
|
Receivables Conversion Period |
79.29 |
|
|
|
|
Receivables Turnover |
4.60 |
Impressive |
Industrial Average |
4.23 |
|
Payables Conversion Period |
50.96 |
|
|
|
The company's Account Receivable Ratio is
calculated as 4.60 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 37 days
at the end of 2013 to 69 days at the end of 2014. This represents a negative
trend. And Inventory turnover has decreased from 9.78 times in year 2013 to
5.27 times in year 2014.
The company's Total Asset Turnover is
calculated as 0.91 times and 1.23 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.66.26 |
|
UK Pound |
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.74.79 |
INFORMATION DETAILS
|
Analysis
Done by : |
TRI |
|
|
|
|
Report
Prepared by : |
TRU |
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.