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|
MIRA
INFORM REPORT
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Report No. : |
505727 |
|
Report Date : |
28.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
PTT POLYMER
MARKETING COMPANY LIMITED |
|
|
|
|
Registered Office : |
9th Floor, Energy
Complex Tower A, 555/1 Vibhavadee Rangsit Road,
Chatuchak, Bangkok 10900 |
|
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|
Country : |
Thailand |
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|
|
|
Financials (as on) : |
31.12.2016 |
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|
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Date of Incorporation : |
24.06.2005 |
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Com. Reg. No.: |
0105548082506 |
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|
|
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Legal Form : |
Private Limited Company |
|
|
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Line of Business : |
The subject is
engaged in distributing and
exporting wide range
of polymers, specialized
in Polyethylene products,
including High Density
Polyethylene [HDPE], Low
Density Polyethylene
[LDPE], Linear Low Density
Polyethylene [LLDPE], under
the brand “INNOPLUS”, as well
as Polypropylene [PP],
Bioplastic [PLA/PBS] and Polystyrene
[PS] consisting of
GPPS resin [General
Purpose Polystyrene] and
HIPS resin [High Impact
Polystyrene], Purging Compound [GX 168 grade], MLLDPE/ Film and
others [Engineering Plastic]
such as PC,
PET and PMMA,
under the brand
“DIAREX”. |
|
|
|
|
No. of Employees : |
160 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
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
|
Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Thailand |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
THAILAND - ECONOMIC OVERVIEW
With a relatively well-developed infrastructure, a free-enterprise
economy, and generally pro-investment policies, Thailand is highly dependent on
international trade, with exports accounting for about two-thirds of GDP.
Thailand’s exports include electronics, agricultural commodities, automobiles
and parts, and processed foods. The industry and service sectors produce about
90% of GDP. The agricultural sector, comprised mostly of small-scale farms,
contributes only 10% of GDP but employs about one-third of the labor force.
Thailand has attracted an estimated 3.0-4.5 million migrant workers, mostly
from neighboring countries.
Over the last few decades, Thailand has reduced poverty substantially.
In 2013, the Thai Government implemented a nationwide 300 baht (roughly $10)
per day minimum wage policy and deployed new tax reforms designed to lower
rates on middle-income earners.
Thailand’s economy is recovering from slow growth during the years since
the 2014 coup. Thailand’s economic fundamentals are sound, with low inflation,
low unemployment, and reasonable public and external debt levels. Tourism and
government spending - mostly on infrastructure and short-term stimulus measures
– have helped to boost the economy, and The Bank of Thailand has been
supportive, with several interest rate reductions.
Over the longer-term, household debt levels, political uncertainty, and
an aging population pose risks to growth.
|
Source
: CIA |
Company name
PTT POLYMER
MARKETING COMPANY LIMITED
SUMMARY
BUSINESS ADDRESS : 9TH FLOOR,
ENERGY COMPLEX TOWER
A,
555/1 VIBHAVADEE RANGSIT
ROAD,
CHATUCHAK, BANGKOK
10900, THAILAND
TELEPHONE : [66] 2140-4488
FAX : [66] 2140-4333
E-MAIL ADDRESS : export@pttpm.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2005
REGISTRATION NO. : 0105548082506
TAX ID NO. : 3380090777
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 : MS.
NARONGCHAI PISUTPUNYA, THAI
PRESIDENT
NO. OF STAFF : 160
LINES OF BUSINESS : POLYMER PRODUCTS
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
24, 2005 as
a private limited
company under the
registered name PTT POLYMER
MARKETING COMPANY LIMITED, by
Thai groups, to distribute wide
range of polymer
products to both domestic
and international markets. It
currently employs approximately 160 staff.
The subject was
a joint venture
among PTT Public
Company Limited and
PTT Global Chemical Public
Company Limited. Both companies are
members of PTT group of companies, the
Thailand’s largest petroleum and
petrochemical company and the
leading petrochemical producer
in Asia.
At present, the
subject is a
subsidiary of PTT
Global Chemical Public Company Limited.
The subject’s registered
address was initially
at 555 Ardnarong
Rd., Klongtoey,
Bangkok 10110.
On March 2,
2010 the subject’s
registered address was
relocated to 9th Floor,
Energy Complex Tower
A, 555/1 Vibhavadee
Rangsit Rd., Chatuchak,
Bangkok 10900, and
this is the
subject’s current operation
address.
THE BOARD OF
DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Narongchai Pisutpunya |
[x] |
Thai |
56 |
|
Mr. Wiboon Chuchepchunkamon |
|
Thai |
55 |
|
Mrs. Wilawan Songjaroen |
|
Thai |
54 |
|
Mr. Patiparn Sukorndhaman |
|
Thai |
56 |
AUTHORIZED PERSON
Only the mentioned
director [x] signs
or two of
the rest directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Narongchai Pisutpunya is the
President.
He is Thai
nationality with the
age of 56
years old.
Ms. Somsri Phanichrungruang is
the Senior Vice
President, International Sales
and Acting Vice
President, Trading Department.
She is Thai
nationality.
Mr. Amnuai Phrom-Anant
is the Senior
Vice President, Thailand
and CLM Countries
Sales and Acting
Vice President, Non
Polyethylene Sales Department.
He is Thai
nationality.
Mr. Paiboon Prapussornchaikul is
the Vice President,
Acting Project Manager
for a subsidiary
in Indochina.
He is Thai
nationality.
Ms. Ratchaneekorn
Auksaranuwong is the
Vice President, Customer
Service Department.
She is Thai
nationality.
Mr. Watcharasit Reinsriwong is
the Vice President,
Technical Support Department.
He is Thai
nationality.
Mr. Poramate Sookmool is
the Vice President,
Polyethylene Sales Department.
He is Thai
nationality.
Mr. Anol Loychoosak is
the Vice President,
Export Sales Department.
He is Thai
nationality.
Ms. Porntip Buranagarnjaroen is
the Vice President,
Finance &
Accounting Department.
She is Thai
nationality.
Mr. Charan Siriphornchaikul is
the Vice President,
Corporate Support Department.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in distributing
and exporting wide
range of polymers,
specialized in Polyethylene
products, including High
Density Polyethylene [HDPE],
Low Density Polyethylene [LDPE], Linear
Low Density Polyethylene [LLDPE],
under the brand “INNOPLUS”,
as well as Polypropylene [PP], Bioplastic [PLA/PBS]
and Polystyrene [PS] consisting
of GPPS resin
[General Purpose Polystyrene]
and HIPS resin [High
Impact Polystyrene], Purging
Compound [GX 168 grade], MLLDPE/
Film and
others [Engineering Plastic]
such as PC,
PET and PMMA,
under the brand
“DIAREX”.
PURCHASE
100% of the products
is purchased from
local suppliers.
MAJOR SUPPLIERS
Bangkok Polyethylene Public
Company Limited
HMC Polymer Company
Limited
IRPC Public Company
Limited
PTT Global Chemical
Public Company Limited
SALES
The products are
sold to customers
both local and
overseas. 70% of
the products is
exported to U.S.A., UAE, Republic of China, Korea, Singapore, Taiwan,
Japan, India, Pakistan, Indonesia,
Vietnam, Malaysia, Laos,
Australia, Africa, Middle East
and European countries, the
remaining 30% is
sold locally.
SUBSIDIARY AND AFFILIATED
COMPANY
Polymer Marketing DMCC
Business Type: Distributor
of polymer products
Address : Unit
406, Indigo Tower,
Plot No. D1, Jumeirah
Lakes Towers,
P.O. Box
71645, Dubai, U.A.E.
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.
Exports are against
L/C at sight
or T/T.
BANKING
Standard Chartered Bank
(Thai) Public Company
Limited
Bangkok Bank Public
Company Limited
Siam Commercial Bank
Public Company Limited
Kasikornbank Public Company
Limited
TMB Bank Public
Company Limited
EMPLOYMENT
The subject currently
employs 160 staff.
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Overseas Offices:
Polymer Marketing DMCC
Unit 406-A,
Indigo Tower, Plot
No. JLT-PHI-DIA, Jumeirah
Lakes Towers, Dubai,
U.A.E.
Guangzhou Representative Office
China Shine Office Building, Unit 3803,
Building A, No. 9
Linhexi Road, Tianhe
District, Guangzhou, 510620,
Republic of China
Ho Chi Minh
City Representative Office
Unit 5.02, 5.03
and 5.04, 5th Floor,
Deutsches Haus Ho Chi Minh-Stadt,
No. 33 Le Duan
Street, Ben Nghe
Ward, District 1, Ho
Chi Minh City,
Vietnam
Shanghai Representative Office
Room No. 13-012,
13th Floor, Hang Seng
Bank Tower, 1000
Lujiazui Ring Road,
Pudong New
Area, Shanghai 200120,
Republic of China
COMMENT
The industry which produces chemicals
using oil and natural gas as
principal raw materials,
plays a prominent role in the
manufacturing sector and
the production of
consumer goods in particular.
Petrochemicals can be transformed
into thousands of industrial
and consumer products,
from plastic to
paints and rubber
to textiles.
The subject has been established as an arm of PTT group to
bring with many
advantages for PTT’s wide
portfolio of petrochemical subsidiaries.
It will not
only optimise marketing
management efficiency, but
also reinforce the
group’s competitive edge over
its rivals.
The subject provides the most
professional sales and marketing services to PTT Group’s polymer manufacturing
units, which contributes to a solid business.
FINANCIAL INFORMATION
The capital was
registered at Bht. 40,000,000 divided
into 400,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as
at July 31,
2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
PTT Global Chemical
Public Company Limited Nationality: Thai Address : 14th-18th Floor,
Energy Complex Tower
A, 555/1 Vibhavadee
Rangsit Rd., Chatuchak,
Bangkok |
395,999 |
99.00 |
|
Solution Creation Co.,
Ltd. Nationality: Thai Address : 15th Floor, Energy
Complex Tower A, 555/1 Vibhavadee
Rangsit Rd., Chatuchak,
Bangkok |
4,000 |
1.00 |
|
Mrs. Korakot Thongmee Nationality: Thai Address : 30/152
Moo 1, T. Bangmuang,
A Muang, Samutprakarn |
1 |
- |
Total Shareholders : 3
Share Structure [as
at July 31,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
400,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
400,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Natthaphong
Tantichattanon No. 8829
BALANCE SHEET [BAHT]
The 2017 financial
has not been
submitted to the Commercial Registration
Department during investigation.
The latest financial
figures published for
December 31, 2016,
2015 and 2014
were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash Equivalents |
1,269,081,416 |
1,682,427,803 |
862,033,759 |
|
Trade Accounts and Other Receivable |
4,292,782,539 |
3,703,637,296 |
4,872,516,928 |
|
Inventories |
2,546,484,563 |
1,926,767,729 |
1,932,175,134 |
|
Other Current Assets
|
673,099,826 |
541,798,976 |
1,011,339,078 |
|
|
|
|
|
|
Total Current Assets |
8,781,448,344 |
7,854,631,804 |
8,678,064,899 |
|
Investment in Subsidiaries |
1,959,695 |
1,959,695 |
1,959,695 |
|
Property, Plant and
Equipment |
20,117,777 |
24,632,868 |
25,959,798 |
|
Intangible Assets |
72,705,567 |
44,964,184 |
59,140,898 |
|
Deferred Income Tax |
10,697,738 |
8,497,669 |
7,508,420 |
|
Other Non-current Assets
-Deposit |
10,013,481 |
10,654,416 |
10,416,828 |
|
Total Assets |
8,896,942,602 |
7,945,340,636 |
8,783,050,538 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Trade Accounts and
Other Payable |
8,284,979,895 |
6,926,922,028 |
7,684,521,889 |
|
Short-term Loans |
- |
- |
150,000,000 |
|
Accrued Income Tax |
14,630,551 |
30,946,833 |
14,821,771 |
|
Other Current Liabilities |
11,556,322 |
23,895,454 |
15,261,659 |
|
|
|
|
|
|
Total Current Liabilities |
8,311,166,768 |
6,981,764,315 |
7,864,605,319 |
|
Reserve for Employee’s
Benefit |
53,488,690 |
42,488,344 |
37,542,102 |
|
Total Liabilities |
8,364,655,458 |
7,024,252,659 |
7,902,147,421 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 400,000 shares |
40,000,000 |
40,000,000 |
40,000,000 |
|
|
|
|
|
|
Capital Paid |
40,000,000 |
40,000,000 |
40,000,000 |
|
Retained Earning |
|
|
|
|
Appropriated for
statutory reserve |
4,000,000 |
4,000,000 |
4,000,000 |
|
Unappropriated |
488,287,144 |
877,087,977 |
836,903,117 |
|
Total Shareholders' Equity |
532,287,144 |
921,087,977 |
880,903,117 |
|
Total Liabilities and
Shareholders' Equity |
8,896,942,602 |
7,945,340,636 |
8,783,050,538 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
71,406,619,608 |
75,708,889,650 |
89,708,992,781 |
|
Other Income |
283,421,324 |
275,203,458 |
230,569,897 |
|
Total Revenues |
71,690,040,932 |
75,984,093,108 |
89,939,562,678 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
70,336,753,377 |
74,024,598,610 |
88,004,717,127 |
|
Selling Expenses |
711,971,649 |
1,226,223,476 |
1,333,595,781 |
|
Administrative Expenses |
512,744,139 |
527,093,732 |
439,734,012 |
|
Financial Cost |
887,337 |
1,013,375 |
1,047,836 |
|
Total Expenses |
71,562,356,502 |
75,778,929,193 |
89,779,094,756 |
|
|
|
|
|
|
Profit /[Loss] before Income Tax |
127,684,430 |
205,163,915 |
160,467,922 |
|
Income Tax |
[19,723,729] |
[54,979,055] |
[32,627,922] |
|
Net Profit / [Loss] |
107,960,701 |
150,184,860 |
127,840,000 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.06 |
1.13 |
1.10 |
|
QUICK RATIO |
TIMES |
0.67 |
0.77 |
0.73 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3,549.43 |
3,073.49 |
3,455.69 |
|
TOTAL ASSETS TURNOVER |
TIMES |
8.03 |
9.53 |
10.21 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
13.21 |
9.50 |
8.01 |
|
INVENTORY TURNOVER |
TIMES |
27.62 |
38.42 |
45.55 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
21.94 |
17.86 |
19.82 |
|
RECEIVABLES TURNOVER |
TIMES |
16.63 |
20.44 |
18.41 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
42.99 |
34.16 |
31.87 |
|
CASH CONVERSION CYCLE |
DAYS |
(7.84) |
(6.80) |
(4.03) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
98.50 |
97.78 |
98.10 |
|
SELLING & ADMINISTRATION |
% |
1.72 |
2.32 |
1.98 |
|
INTEREST |
% |
0.00 |
0.00 |
0.00 |
|
GROSS PROFIT MARGIN |
% |
1.90 |
2.59 |
2.16 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.18 |
0.27 |
0.18 |
|
NET PROFIT MARGIN |
% |
0.15 |
0.20 |
0.14 |
|
RETURN ON EQUITY |
% |
20.28 |
16.31 |
14.51 |
|
RETURN ON ASSET |
% |
1.21 |
1.89 |
1.46 |
|
EARNING PER SHARE |
BAHT |
269.90 |
375.46 |
319.60 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.94 |
0.88 |
0.90 |
|
DEBT TO EQUITY RATIO |
TIMES |
15.71 |
7.63 |
8.97 |
|
TIME INTEREST EARNED |
TIMES |
143.90 |
202.46 |
153.14 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(5.68) |
(15.61) |
|
|
OPERATING PROFIT |
% |
(37.76) |
27.85 |
|
|
NET PROFIT |
% |
(28.11) |
17.48 |
|
|
FIXED ASSETS |
% |
(18.33) |
(5.11) |
|
|
TOTAL ASSETS |
% |
11.98 |
(9.54) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -5.68%. Turnover has decreased from THB
75,708,889,650.00 in 2015 to THB 71,406,619,608.00 in 2016. While net profit
has decreased from THB 150,184,860.00 in 2015 to THB 107,960,701.00 in 2016.
And total assets has increased from THB 7,945,340,636.00 in 2015 to THB
8,896,942,602.00 in 2016.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
1.90 |
Deteriorated |
Industrial Average |
23.10 |
|
Net Profit Margin |
0.15 |
Acceptable |
Industrial Average |
0.38 |
|
Return on Assets |
1.21 |
Acceptable |
Industrial Average |
2.74 |
|
Return on Equity |
20.28 |
Impressive |
Industrial Average |
8.96 |
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 1.9%. 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 0.15%.
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 1.21%.
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 20.28%, 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.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.06 |
Satisfactory |
Industrial Average |
1.17 |
|
Quick Ratio |
0.67 |
|
|
|
|
Cash Conversion Cycle |
(7.84) |
|
|
|
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 1.06 times in 2016, decrease from 1.13 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 0.67 times in 2016,
decrease from 0.77 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 -8 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.94 |
Acceptable |
Industrial Average |
0.75 |
|
Debt to Equity Ratio |
15.71 |
Risky |
Industrial Average |
2.99 |
|
Times Interest Earned |
143.90 |
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 143.9 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 0.94 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
3,549.43 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
8.03 |
Impressive |
Industrial Average |
7.26 |
|
Inventory Conversion Period |
13.21 |
|
|
|
|
Inventory Turnover |
27.62 |
Impressive |
Industrial Average |
18.87 |
|
Receivables Conversion Period |
21.94 |
|
|
|
|
Receivables Turnover |
16.63 |
Impressive |
Industrial Average |
16.00 |
|
Payables Conversion Period |
42.99 |
|
|
|
The company's Account Receivable Ratio is calculated as 16.63 and 20.44
in 2016 and 2015 respectively. This ratio measures the efficiency of the
company in managing its trade debtors to generate revenue. A lower ratio may
indicate over extension and collection problems. Conversely, a higher ratio may
indicate an overtly stringent policy. In this case, the company's A/R ratio in
2016 decreased from 2015. This would suggest the company had deteriorated in
the management of its debt collections.
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 10 days at the
end of 2015 to 13 days at the end of 2016. This represents a negative trend.
And Inventory turnover has decreased from 38.42 times in year 2015 to 27.62
times in year 2016.
The company's Total Asset Turnover is calculated as 8.03 times and 9.53
times in 2016 and 2015 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 |
INR 66.78 |
|
|
1 |
INR 92.89 |
|
Euro |
1 |
INR 80.74 |
|
Thai Baht |
1 |
INR 2.12 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.