MIRA INFORM REPORT
|
Report No. : |
339875 |
|
Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIACHROME
CHEMICALS LIMITED |
|
|
|
|
Formerly Known As : |
THAI-OCCIDENTIAL CHEMICAL LTD. |
|
|
|
|
Registered Office : |
1st Floor, Zone B, Srifuengfung Building, 1016 Rama 4 Road, Silom, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
11.02.1983 |
|
|
|
|
Com. Reg. No.: |
0105526005941 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor
& Exporter of Tanning & Leather Chemicals. |
|
|
|
|
No. of Employees : |
74 |
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.
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’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
DIACHROME CHEMICALS LIMITED
[FORMER :
THAI-OCCIDENTIAL CHEMICAL LTD.]
SUMMARY
BUSINESS
ADDRESS : 1st FLOOR,
ZONE B, SRIFUENGFUNG
BUILDING, 1016 RAMA 4
ROAD, SILOM, BANGRAK,
BANGKOK 10500, THAILAND
TELEPHONE : [66] 2237-4935-8,
2237-4942
FAX
: [66] 2237-4943
E-MAIL
ADDRESS : diachrome@samart.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1983
REGISTRATION
NO. : 0105526005941 [Former : 594/2526]
TAX
ID NO. : 3101221282
CAPITAL REGISTERED : BHT. 48,000,000
CAPITAL PAID-UP : BHT.
48,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL
YEAR CLOSING DATE : DECEMBER
31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
CHAINARONG SRIFUENGFUNG, THAI
GENERAL MANAGER
NO.
OF STAFF : 74
LINES
OF BUSINESS : TANNING &
LEATHER CHEMICALS
MANUFACTURER, DISTRIBUTOR & EXPORTER
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on February
11, 1983 as
a private limited
company under the
registered name Green Lotus
Co., Ltd. by
Srifuengfung family and
other Thai partners, in
order to manufacture
industrial chemicals for
both local and
overseas markets. It
currently employs 74
staff.
The subject’s name
was changed as
the followings:
-
Thai-Diamond
Shamrock Chrome Ltd.
on October 24,
1985
- Thai-Occidential Chemical
Ltd. on February
20, 1987
-
DIACHROME
CHEMICALS LIMITED on
February 7, 2002.
The subject’s registered address
was initially at
Cathay House Building, 8
North Sathorn Rd., Silom, Bangrak, Bangkok
10500.
In November 2002,
the registered address
was relocated to 1st Floor,
Zone B, Srifuengfung Building, 1016
Rama 4 Rd., Silom, Bangrak,
Bangkok 10500, and
this is the
company’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Ms. Kalayanee Srifuengfung |
[x] |
Thai |
59 |
|
Mr. Chainarong Srifuengfung |
[x] |
Thai |
70 |
|
Mr. Sombat Panitchewa |
|
Thai |
80 |
|
Mr. Vitoon Techatasanasoontorn |
[x] |
Thai |
75 |
|
Ms. Nishita Shah |
|
Indian |
34 |
|
Mr. Thawin Srifuengfung |
[x] |
Thai |
39 |
AUTHORIZED
PERSON
Any two of the
above directors [x] can
jointly sign on
behalf of the
subject with
company’s affixed.
MANAGEMENT
Mr. Chainarong Srifuengfung is
the General Manager.
He is Thai
nationality with the
age of 70
years old.
Mr. Anugoon Sakuldamrongpanich is
the Factory Manager.
He is Thai
nationality.
Mr. Thananan Bhandunartviriyakul is
the Marketing &
Sales Manager.
He is Thai
nationality.
BUSINESS
OPERATIONS
The subject is
engaged in manufacturing
wide range of
industrial chemicals, specialized
in Basic Chromium Sulphate with
various grades for tanning
and leather goods
and household appliances
industry. The products
are as follows:
·
Sodium
Bicarbonate
·
Diachrome K
·
Diachrome R
·
Diachrom T
·
Diachrome NV-42
·
Diachrome L
·
Diachrome SB
PURCHASE
90% of raw
material is purchased
from local suppliers
and agents, the
remaining 10% is
imported from Taiwan, Republic
of China, Austria,
India, Hong Kong, U.S.A.,
and Germany.
MAJOR SUPPLIERS
Witcorp Co., Ltd. :
Thailand
Occidental Chemical Inc. : U.S.A.
SALES
90% of the
products is sold
locally by wholesale
to dealers and
tanning manufactures, the
remaining 10% is
exported to Singapore,
Republic of China,
Japan, Vietnam, Indonesia,
Malaysia and Taiwan.
MAJOR CUSTOMERS
Thai Rung Rueng
Tannery Co., Ltd. : Thailand
Sri Sinn Fah
Tannery Co., Ltd. : Thailand
C.P.L. Group Public
Company Limited :
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 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
L/C at sight.
Exports are against
L/C at sight
or on negotiated
term & T/T.
BUSINESS
TRANSACTION
The products are
sold mainly by
credit, with the
maximum credit given
at 30-60 days.
The subject is
not found to
have problems on
its accounts receivable.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok 10500]
EMPLOYMENT
The subject currently
employs 74 staff [office,
sales staff &
factory workers].
LOCATION
DETAILS
The premise is rented
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Factory & warehouse are located at 386 Bangpoo Industrial Estate, Patana Rd., T. Praeksa, A. Muang,
Samutprakarn 10270. Tel.: [66] 2709-3840, 2324-0452,
Fax: [66] 2324-0453.
COMMENT
Demand of tanning and leather chemicals is growing in
line with the growth and development of
tanning and leather
production industries supplying
the products to
automobile and furniture production
which seemed to fall in
the past three
years. Subject’s sales
have been decreased
significantly which resulted in
the subject’s net
loss for three consecutive years.
Without any sign
of improvement or
growth from related
industries associated with
slowdown of economy,
the subject would
encounter a tough
year for 2015
as well.
FINANCIAL
INFORMATION
The capital was registered
at Bht. 100,000
divided into 1,000
shares of Bht.
100 each.
The capital was
increased later as
follows:
Bht.
24,000,000 on November
14, 1985
Bht.
48,000,000 on May
31, 1990
The latest registered
capital was increased to
Bht. 48,000,000 divided
into 480,000 shares
of Bht. 100 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 24, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Sri Kiri Enterprise
Co., Ltd. Nationality : Thai Address : 90/9
Sukhumvit 31 Rd.,
Klongtonnua,
Wattana, Bangkok 10110 |
141,315 |
29.44 |
|
Sripeenong Co., Ltd. Nationality : Thai Address : 88 Sukhumvit 31 Rd.,
Klongtonnua,
Wattana, Bangkok 10110 |
131,771 |
27.45 |
|
Unistrech Co., Ltd. Nationality : Thai Address : 8/23,
8/35-38 North Sathorn
Rd., Silom,
Bangrak, Bangkok |
114,600 |
23.88 |
|
Ms. Sirima Phanichewa Nationality : Thai Address : 247/1
Nanglinchee Rd., Chongnonsi,
Yannawa, Bangkok |
23,529 |
4.90 |
Pailuck Co., Ltd. Nationality : Thai Address : 46
North Sathorn Rd.,
Silom, Bangrak, Bangkok |
12,000 |
2.50 |
|
|
|
|
|
Mr. Chainarin Srifuengfung Nationality : Thai Address : 90/8
Sukhumvit 31 Rd., Klongtonnua,
Wattana, Bangkok 10110 |
10,000 |
2.08 |
|
Mr. Chainarong Srifuengfung Nationality : Thai Address : 88/2
Sukhumvit 31 Rd.,
Klongtonnua,
Wattana, Bangkok 10110 |
10,000 |
2.08 |
|
Ms. Chanya Srifuengfung Nationality : Thai Address : 191/5
Sukhumvit 31 Rd., Klongtonnua,
Wattana, Bangkok 10110 |
10,000 |
2.08 |
|
Mr. Thawin Srifuengfung Nationality : Thai Address : 157/18
Rajvithi Rd., Vajira,
Dusit,
Bangkok 10300 |
10,000 |
2.08 |
|
Mr. Chalermchai Somboonpakorn Nationality : Thai Address : 53/1
Sukhumvit 2 Rd.,
Klongtoey, Bangkok 10110 |
5,843 |
1.22 |
|
Mr. Apichai Somboonpakorn Nationality : Thai Address : 53/1
Sukhumvit 2 Rd.,
Klongtoey, Bangkok |
5,842 |
1.22 |
|
Mrs. Warin Somboonpakorn Nationality : Thai Address : 53/1
Sukhumvit 2 Rd.,
Klongtoey, Bangkok |
4,000 |
0.83 |
|
Ms. Panwdee Moolthongjad Nationality : Thai Address : 25th Floor,
215/92 Asoke Condominium,
Sukhumvit Rd., Klongtoeynua, Wattana,
Bangkok |
600 |
0.12 |
|
Mr. Vitoon Techatasanasoontorn Nationality : Thai Address : 191/39
Sukhumvit 31 Rd.,
Klongtonnua,
Wattana, Bangkok 10110 |
500 |
0.12 |
Total Shareholders : 14
Share Structure [as
at April 24,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
14 |
480,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
14 |
480,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mrs. Kannikar Tanthai
No. 2876
BALANCE
SHEET [BAHT]
The
latest financial figures
published for December
31, 2014, 2013
& 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash in hand
& at Bank |
19,369,640.86 |
34,501,392.55 |
14,510,829.60 |
|
Trade Account & Other
Receivable |
32,062,661.66 |
26,878,382.56 |
37,358,061.00 |
|
Inventories |
39,762,843.11 |
60,143,511.01 |
61,183,885.88 |
|
Other Current Assets
|
1,941,759.94 |
4,227,332.86 |
2,744,089.47 |
|
|
|
|
|
|
Total Current Assets
|
93,136,905.57 |
125,750,618.98 |
115,796,865.95 |
|
Other Long-term Investment |
200,000.00 |
200,000.00 |
200,000.00 |
|
Fixed Assets |
17,239,788.01 |
19,489,413.60 |
21,257,841.95 |
|
Other Non-current Assets |
358,970.10 |
349,876.33 |
344,021.68 |
|
Total Assets |
110,935,663.68 |
145,789,908.91 |
137,598,729.58 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term
Loan from Financial Institutions |
978,270.54 |
41,607,905.10 |
26,479,135.95 |
|
Trade Accounts & Other
Payable |
13,061,831.46 |
5,867,197.99 |
6,924,438.04 |
|
Other Current Liabilities |
163,477.68 |
162,329.67 |
178,918.63 |
|
|
|
|
|
|
Total Current Liabilities |
14,203,579.68 |
47,637,432.76 |
33,582,492.62 |
|
Employee Benefits Obligation |
8,129,768.00 |
7,982,148.00 |
8,652,786.00 |
|
Total Liabilities |
22,333,347.68 |
55,619,580.76 |
42,235,278.62 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized and issued
share capital
480,000 shares |
48,000,000.00 |
48,000,000.00 |
48,000,000.00 |
|
|
|
|
|
|
Capital Paid |
48,000,000.00 |
48,000,000.00 |
48,000,000.00 |
|
Retained Earning Appropriated for statutory reserve |
4,800,000.00 |
4,800,000.00 |
4,800,000.00 |
|
Unappropriated |
35,802,316.00 |
37,370,328.15 |
42,563,450.96 |
|
Total Shareholders' Equity |
88,602,316.00 |
90,170,328.15 |
95,363,450.96 |
|
Total Liabilities &
Shareholders' Equity |
110,935,663.68 |
145,789,908.91 |
137,598,729.58 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
149,835,998.83 |
158,065,550.40 |
172,502,185.28 |
|
Other Income |
1,300,175.14 |
1,496,062.07 |
1,495,826.84 |
|
Total Revenues |
151,136,173.97 |
159,561,612.47 |
173,998,012.12 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
129,832,801.97 |
140,378,946.06 |
170,073,317.46 |
|
Selling Expenses |
7,128,622.02 |
7,929,094.90 |
8,002,467.83 |
|
Administrative Expenses |
15,295,516.77 |
15,675,001.16 |
13,836,792.07 |
|
Total Expenses |
152,256,940.76 |
163,983,042.12 |
191,912,577.36 |
|
|
|
|
|
|
Profit before Financial Cost |
[1,120,766.79] |
[4,421,429.65] |
[17,914,565.24] |
|
Financial Cost |
[447,245.36] |
[771,693.16] |
[558,666.23] |
|
Net Profit / [Loss] |
[1,568,012.15] |
[5,193,122.81] |
[18,473,231.47] |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
6.56 |
2.64 |
3.45 |
|
QUICK RATIO |
TIMES |
3.62 |
1.29 |
1.54 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
8.69 |
8.11 |
8.11 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.35 |
1.08 |
1.25 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
111.79 |
156.38 |
131.31 |
|
INVENTORY TURNOVER |
TIMES |
3.27 |
2.33 |
2.78 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
78.10 |
62.07 |
79.05 |
|
RECEIVABLES TURNOVER |
TIMES |
4.67 |
5.88 |
4.62 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
36.72 |
15.26 |
14.86 |
|
CASH CONVERSION CYCLE |
DAYS |
153.17 |
203.19 |
195.49 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
86.65 |
88.81 |
98.59 |
|
SELLING & ADMINISTRATION |
% |
14.97 |
14.93 |
12.66 |
|
INTEREST |
% |
0.30 |
0.49 |
0.32 |
|
GROSS PROFIT MARGIN |
% |
14.22 |
12.14 |
2.28 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(0.75) |
(2.80) |
(10.39) |
|
NET PROFIT MARGIN |
% |
(1.05) |
(3.29) |
(10.71) |
|
RETURN ON EQUITY |
% |
(1.77) |
(5.76) |
(19.37) |
|
RETURN ON ASSET |
% |
(1.41) |
(3.56) |
(13.43) |
|
EARNING PER SHARE |
BAHT |
(3.27) |
(10.82) |
(38.49) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.20 |
0.38 |
0.31 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.25 |
0.62 |
0.44 |
|
TIME INTEREST EARNED |
TIMES |
(2.51) |
(5.73) |
(32.07) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(5.21) |
(8.37) |
|
|
OPERATING PROFIT |
% |
(74.65) |
(75.32) |
|
|
NET PROFIT |
% |
69.81 |
71.89 |
|
|
FIXED ASSETS |
% |
(11.54) |
(8.32) |
|
|
TOTAL ASSETS |
% |
(23.91) |
5.95 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -5.21%. Turnover has decreased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
14.22 |
Satisfactory |
Industrial
Average |
17.91 |
|
Net Profit Margin |
(1.05) |
Deteriorated |
Industrial
Average |
2.03 |
|
Return on Assets |
(1.41) |
Deteriorated |
Industrial
Average |
2.74 |
|
Return on Equity |
(1.77) |
Deteriorated |
Industrial
Average |
4.35 |
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 14.22%. 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 -1.05%.
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 -1.41%.
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 -1.77%.
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 |
6.56 |
Impressive |
Industrial
Average |
1.74 |
|
Quick Ratio |
3.62 |
|
|
|
|
Cash Conversion Cycle |
153.17 |
|
|
|
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 6.56 times in 2014, increase from 2.64 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 3.62 times in 2014,
increase from 1.29 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 154 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.20 |
Impressive |
Industrial
Average |
0.35 |
|
Debt to Equity Ratio |
0.25 |
Impressive |
Industrial
Average |
0.54 |
|
Times Interest Earned |
(2.51) |
Risky |
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 -2.51 lower than 1, so the company is not generating
enough cash from EBIT to meet its interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.2 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
8.69 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.35 |
Impressive |
Industrial
Average |
1.35 |
|
Inventory Conversion Period |
111.79 |
|
|
|
|
Inventory Turnover |
3.27 |
Deteriorated |
Industrial
Average |
7.93 |
|
Receivables Conversion Period |
78.10 |
|
|
|
|
Receivables Turnover |
4.67 |
Satisfactory |
Industrial
Average |
5.80 |
|
Payables Conversion Period |
36.72 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.67 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 decreased from 156 days at the
end of 2013 to 112 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 2.33 times in year 2013 to 3.27 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.35 times and 1.08
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.66.61 |
|
|
1 |
Rs.102.30 |
|
Euro |
1 |
Rs.74.61 |
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.