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%20CO%20,%20LTD%20%20-%20490820%2020-Feb-2018_files/image002.jpg){kind=small}
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MIRA INFORM REPORT
|
Report No. : |
490820 |
|
Report Date : |
20.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PHARMALAND (1982) CO., LTD. |
|
|
|
|
Registered Office : |
56 Soi
Supapong 1, Nongborn, Pravej, Bangkok 10250 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
10.08.1982 |
|
|
|
|
Com. Reg. No.: |
0115525000465 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Distributor of Pharmaceutical
Products. |
|
|
|
|
No. of Employees : |
115 |
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 |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
PHARMALAND (1982) CO., LTD.
SUMMARY
BUSINESS ADDRESS : 56 SOI
SUPAPONG 1, NONGBORN, PRAVEJ,
BANGKOK 10250, THAILAND
TELEPHONE : [66] 2338-8550,
2399-2200
FAX : [66] 2330-8552,
2396-1622, 2748-0355
E-MAIL ADDRESS : info@pharmaland 1982.com
REGISTRATION ADDRESS : SAME AS
BUSINESS ADDRESS
ESTABLISHED : 1982
REGISTRATION NO. : 0115525000465 [Former
: SOR POR 267]
TAX ID NO. : 3271007099
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. SOMTOB
BOONNIMITRA, THAI
MANAGING DIRECTOR
NO. OF STAFF : 115
LINES OF BUSINESS : PHARMACEUTICAL PRODUCTS
IMPORTER AND DISTRIBUTOR
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
August 10, 1982 as
a private limited
company under the registered
name PHARMALAND (1982) CO., LTD
by Thai groups.
The subject initially
started its business
since 1974, under the name
PHARMALAND L.P.
In 1982,
the subject was
registered its business
as a private
limited company, in order to import
and distribute pharmaceutical products
to domestic market.
It currently employs 115 staff.
The subject’s
registered address was initially
located at 15/56 Moo 1,
Srinakarin Road, Nongborn,
Pravej, Bangkok 10250.
On April 1, 2005,
the registered address was
changed from “15/56 Moo 1, Srinakarin Road”
to “56 Soi
Supapong 1, Nongborn,
Pravej, Bangkok 10250” by
the Praves district
office, actually both
are the same
location. This is
also the subject’s
current operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Kitti
Junpaparp |
|
Thai |
76 |
|
Mr. Rak
Hongvibulphol |
|
Thai |
75 |
|
Mr. Somtob
Boonnimitra |
|
Thai |
76 |
|
Mrs. Wanida
Boonnimitra |
|
Thai |
73 |
|
Mr. Sorravis Boonnimitra |
|
Thai |
34 |
AUTHORIZED PERSON
Two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Somtob
Boonnimitra is
the Managing Director.
He is
Thai nationality with
the age of
76 years old.
Mr. Rak Hongvibulphol
is the Sales
Manager [Hospital-Local
Products].
He is
Thai nationality with
the age of
75 years old.
Mr. Kitti
Junpaparp is
the Sales Manager [Hospital-Overseas Products].
He is
Thai nationality with
the age of 76
years old.
Mr. Buncha
Siriwong is
the Sales Manager [Drugstore].
He is
Thai nationality.
Mrs. Wanida
Boonnimitra is
the Personnel and
Administration Manager.
She is
Thai nationality with
the age of
73 years old.
BUSINESS OPERATIONS
The subject
is engaged in importing and distributing
pharmaceutical finished products and pharmaceutical fine chemicals
both from domestic [manufacture under the
subject’s license] and overseas manufactures.
The products
are divided into
3 divisions as
follows:
Division A : Local
Products
Division B : Imported
Products
Division C : OTC
Products
PURCHASE
80% of
the products is
purchased from local
manufacturers, the remaining
20% is imported
from United Kingdom, India,
France, Greece, Cuba,
Germany, Italy, Cyprus,
Singapore, Indonesia and
Mexico.
MAJOR SUPPLIERS
Adams Healthcare
Ltd. :
United Kingdom
Cadila Pharmaceutical Ltd. : India
Nabros Pharma
Pvt. Ltd. :
India
Emcure Pharmaceutical Ltd. :
India
Demo S.A. : Greece
Heber Biotec S.A. : Cuba
Jenapharm GmbH : Germany
Fleet Laboratories
Ltd. :
U.K.
Sun Pharmaceutical Industries Ltd. : India
Treemill International
Corporation : United Kingdom
Zydus Cadila
Healthcare Ltd. : India
Remedica Ltd. :
Cyprus
SALES [LOCAL]
100% of
its products is
sold locally by
wholesale to dealers
and end-users such
as hospitals and
drugstores nationwide.
MAJOR CUSTOMERS
Ubonratchathani Cancer
Hospital
Prasrimahabhodi Psychiatric
Hospital
Phapayom Hospital
Paolo Hospital
RELATED/AFFILIATED COMPANIES
Pharmadica Co., Ltd.
Business Type
: Distributor of
pharmaceutical products
PML Pharmaceuticals Co.,
Ltd.
Business Type :
Distributor of pharmaceutical 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 for
the past two
years.
CREDIT
Sales are
by cash or
on the credits
term of 30-60
days.
Local bills
are paid by
cash or on
the credits term
of 30-60-90 days.
Imports are
by T/T.
BANKING
Kasikornbank Public
Company Limited
[Srinakarin
Branch : 14/1-2 Srinakarin Rd.,
Phrakanong, Praves, Bangkok 10260]
Krung Thai Bank
Public Company Limited
[Srinakarin
Branch : Srinakarin Rd., Phrakanong,
Praves, Bangkok 10260]
Bangkok Bank
Public Company Limited
[Head Office : 333 Silom
Rd., Silom, Bangrak,
Bangkok 10500]
Bank of
Ayudhya Public Company
Limited
[Head Office : 1222 Rama 3 Rd.,
Bangpongpang, Yannawa, Bangkok 10120]
EMPLOYMENT
The subject
employs 115 staff.
LOCATION DETAILS
The premise
is owned for
administrative office and
warehouse at the
heading address. Premise
is located in
commercial/residential area.
COMMENT
The subject is one
of the leading importers and
distributors of pharmaceutical finished products and
pharmaceutical fine chemicals.
It carries over 100 drugs both for hospital use and drugstore. Its products have been
used widely for
various types of sickness and symptoms of illness.
The subject’s business is solid
and growing significantly
in line with
the higher demand of
the pharmaceutical products
from healthcare industry.
FINANCIAL INFORMATION
The capital was
initially registered at Bht. 1,000,000 divided
into 10,000 shares of Bht.100
each.
The capital was
increased later as follows:
Bht. 5,000,000
on January 6,
1984
Bht.
10,000,000 on July
17, 1992
Bht.
20,000,000 on June
2, 1998
Bht.
30,000,000 on June
5, 2003
Bht.
40,000,000 on July
23, 2009
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 26, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Kitti
Junpaparp Nationality: Thai
Address :
8/11 Sukhapibal 2 Rd.,
Klongkum, Bangkapi, Bangkok
|
80,000 |
20.00 |
|
Mr. Rak
Hongvibulphol Nationality: Thai
Address :
413/26 Charoenkrung 107
Rd., Bangkorlaem, Bangkok
10120 |
80,000 |
20.00 |
|
Mr. Somtob
Boonnimitra Nationality: Thai
Address :
929/4 Bangna-Trad Rd.,
Bangna, Bangkok 10260 |
80,000 |
20.00 |
|
Mr. Wuthi
Praveenwongwuth Nationality: Thai
Address :
59/134 Moo 3, T.
Klongklua, A. Pakkred, Nonthaburi |
80,000 |
20.00 |
|
Mr. Nitipat
Praveenwongwuth Nationality: Thai
Address :
192 Soi Ramindra 46,
Kannayao, Bangkok 10230 |
40,000 |
10.00 |
|
Mrs. Wanida
Boonnimitra Nationality: Thai
Address :
56 Soi Supapong,
Srinakarin Rd., Nongbon, Praves,
Bangkok 10250 |
24,000 |
6.00 |
|
Mr. Manoon
Chintanadilokkul Nationality: Thai
Address :
596 Soi Ladprao 101/1 (Yaek 17), Ladprao Rd., Klongchan, Bangkapi, Bangkok |
16,000 |
4.00 |
Total Shareholders : 7
Share Structure [as at April
26, 2017]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
400,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
400,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mrs. Supattra Patawanich
No. 6687
BALANCE SHEET [BAHT]
The latest financial
figures published for December
31, 2016, 2015
and 2014 were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash Equivalents |
32,104,612.59 |
59,245,619.48 |
52,302,031.64 |
|
Short-term
Investment |
71,031,843.92 |
50,172,177.87 |
37,263,442.45 |
|
Trade Accounts
and Other Receivable
|
279,963,996.98 |
274,262,731.62 |
278,746,664.15 |
|
Inventories |
95,037,954.57 |
78,435,186.36 |
79,098,264.46 |
|
Other Current
Assets |
15,689,914.27 |
16,065,961.41 |
22,130,607.63 |
|
Total Current
Assets |
493,828,322.33 |
478,181,676.74 |
469,541,010.33 |
|
|
|
|
|
|
Investment in Subsidiaries |
11,679,500.00 |
11,679,500.00 |
11,679,500.00 |
|
Other Long-term
Investment |
29,557,825.01 |
9,457,783.17 |
4,295,617.82 |
|
Property,
Plant and Equipment |
87,961,503.91 |
93,585,200.47 |
96,201,766.82 |
|
Intangible Assets |
1,078,581.92 |
1,214,554.95 |
1,176,321.18 |
|
Other Non-current
Assets |
219,480.00 |
219,480.00 |
217,480.00 |
|
Total Assets |
624,325,213.17 |
594,338,195.33 |
583,111,696.15 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Trade
Accounts and Other Payable |
87,113,830.53 |
94,463,071.73 |
100,816,722.45 |
|
Current Portion
of Long-term Liabilities |
218,997.00 |
357,404.00 |
454,396.20 |
|
Accrued Income
Tax |
3,104,571.24 |
3,082,966.43 |
5,014,761.17 |
|
Other Current
Liabilities |
23,631,904.73 |
29,085,028.79 |
15,710,165.96 |
|
Total Current
Liabilities |
114,069,303.50 |
126,988,470.95 |
121,996,045.78 |
|
|
|
|
|
|
Provision for
Employee Benefits |
824,115.93 |
778,484.16 |
762,324.67 |
|
Other
Non-current Liabilities |
89,067.00 |
308,064.00 |
413,656.80 |
|
Total Liabilities
|
114,982,486.43 |
128,075,019.11 |
123,172,027.25 |
|
|
|
|
|
|
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 |
|
Premium on Share
Capital |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earning
: [Deficit] Appropriated statutory
reserve |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Unappropriated |
460,342,726.74 |
417,263,176.22 |
410,939,668.90 |
|
Total Shareholders’ Equity |
509,342,726.74 |
466,263,176.22 |
459,939,668.90 |
|
Total Liabilities
and Shareholders’ Equity |
624,325,213.17 |
594,338,195.33 |
583,111,696.15 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
713,510,191.50 |
308,458,340.39 |
746,801,025.00 |
|
Other Income |
14,499,639.21 |
548,132.06 |
6,842,795.98 |
|
Total Revenues |
728,009,830.71 |
309,006,472.45 |
753,643,820.98 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of
Goods Sold or Services |
524,881,181.95 |
213,486,958.23 |
518,785,742.13 |
|
Selling Expenses |
34,296,361.79 |
20,004,638.41 |
48,376,314.42 |
|
Administrative Expenses |
107,306,388.10 |
64,589,750.99 |
133,714,077.19 |
|
Total Expenses
|
666,483,931.84 |
298,081,347.63 |
700,876,133.74 |
|
|
|
|
|
|
Profit /[Loss]
before Financial Cost
and Income Tax |
61,525,898.87 |
10,925,124.82 |
52,767,687.24 |
|
Financial Cost |
[59,666.56] |
[13,532.45] |
[41,865.42] |
|
|
|
|
|
|
Profit
/[Loss] before Income
Tax |
61,466,232.31 |
10,911,592.37 |
52,725,821.82 |
|
Income Tax
|
[13,586,681.79] |
[4,588,085.05] |
[17,152,958.22] |
|
Net Profit / [Loss] |
47,879,550.52 |
6,323,507.32 |
35,572,863.60 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
4.33 |
3.77 |
3.85 |
|
QUICK RATIO |
TIMES |
3.36 |
3.02 |
3.02 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS
TURNOVER |
TIMES |
8.11 |
3.30 |
7.76 |
|
TOTAL ASSETS
TURNOVER |
TIMES |
1.14 |
0.52 |
1.28 |
|
INVENTORY
CONVERSION PERIOD |
DAYS |
66.09 |
134.10 |
55.65 |
|
INVENTORY
TURNOVER |
TIMES |
5.52 |
2.72 |
6.56 |
|
RECEIVABLES
CONVERSION PERIOD |
DAYS |
143.22 |
324.54 |
136.24 |
|
RECEIVABLES
TURNOVER |
TIMES |
2.55 |
1.12 |
2.68 |
|
PAYABLES
CONVERSION PERIOD |
DAYS |
60.58 |
161.50 |
70.93 |
|
CASH CONVERSION
CYCLE |
DAYS |
148.73 |
297.13 |
120.96 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS
SOLD |
% |
73.56 |
69.21 |
69.47 |
|
SELLING &
ADMINISTRATION |
% |
19.85 |
27.42 |
24.38 |
|
INTEREST |
% |
0.01 |
0.00 |
0.01 |
|
GROSS PROFIT
MARGIN |
% |
28.47 |
30.97 |
31.45 |
|
NET PROFIT MARGIN
BEFORE EX. ITEM |
% |
8.62 |
3.54 |
7.07 |
|
NET PROFIT MARGIN |
% |
6.71 |
2.05 |
4.76 |
|
RETURN ON EQUITY |
% |
9.40 |
1.36 |
7.73 |
|
RETURN ON ASSET |
% |
7.67 |
1.06 |
6.10 |
|
EARNING PER SHARE |
BAHT |
119.70 |
15.81 |
88.93 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.18 |
0.22 |
0.21 |
|
DEBT TO EQUITY
RATIO |
TIMES |
0.23 |
0.27 |
0.27 |
|
TIME INTEREST
EARNED |
TIMES |
1,031.16 |
807.33 |
1,260.41 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
131.31 |
(58.70) |
|
|
OPERATING PROFIT |
% |
463.16 |
(79.30) |
|
|
NET PROFIT |
% |
657.17 |
(82.22) |
|
|
FIXED ASSETS |
% |
(6.01) |
(2.72) |
|
|
TOTAL ASSETS |
% |
5.05 |
1.93 |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales
growth is 131.31%. Turnover has increased from THB
PROFITABILITY : IMPRESSIVE
%20CO%20,%20LTD%20%20-%20490820%2020-Feb-2018_files/image008.gif)
PROFITABILITY RATIO
|
Gross Profit
Margin |
28.47 |
Acceptable |
Industrial Average |
96.04 |
|
Net Profit Margin |
6.71 |
Impressive |
Industrial Average |
3.21 |
|
Return on Assets |
7.67 |
Impressive |
Industrial Average |
5.81 |
|
Return on Equity |
9.40 |
Satisfactory |
Industrial Average |
10.63 |
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 28.47%. 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. Net Profit Margin ratio is 6.71%, 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 7.67%, 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. When compared with the industry average, it was
lower, the company's figure is 9.4%.
Trend of the average competitors in the same
industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY : SATISFACTORY
%20CO%20,%20LTD%20%20-%20490820%2020-Feb-2018_files/image010.gif)
LIQUIDITY RATIO
|
Current Ratio |
4.33 |
Impressive |
Industrial Average |
1.90 |
|
Quick Ratio |
3.36 |
|
|
|
|
Cash Conversion
Cycle |
148.73 |
|
|
|
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 4.33 times in 2016,
increase from 3.77 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 3.36 times in 2016, increase from 3.02 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 149 days.
Trend of the average competitors in the same
industry for last 5 years
Current Ratio Downtrend
LEVERAGE : EXCELLENT
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%20CO%20,%20LTD%20%20-%20490820%2020-Feb-2018_files/image014.gif)
LEVERAGE RATIO
|
Debt Ratio |
0.18 |
Impressive |
Industrial Average |
0.49 |
|
Debt to Equity
Ratio |
0.23 |
Impressive |
Industrial Average |
0.97 |
|
Times Interest
Earned |
1,031.16 |
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
1031.17 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 0.18 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 : IMPRESSIVE
%20CO%20,%20LTD%20%20-%20490820%2020-Feb-2018_files/image016.gif)
ACTIVITY RATIO
|
Fixed Assets
Turnover |
8.11 |
Impressive |
Industrial Average |
- |
|
Total Assets
Turnover |
1.14 |
Satisfactory |
Industrial Average |
1.81 |
|
Inventory
Conversion Period |
66.09 |
|
|
|
|
Inventory
Turnover |
5.52 |
Satisfactory |
Industrial Average |
6.02 |
|
Receivables
Conversion Period |
143.22 |
|
|
|
|
Receivables Turnover |
2.55 |
Satisfactory |
Industrial Average |
3.95 |
|
Payables
Conversion Period |
60.58 |
|
|
|
The company's
Account Receivable Ratio is calculated as 2.55 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 134 days at the end of 2015 to 66 days at the end of 2016. This
represents a positive trend. And Inventory turnover has increased from 2.72
times in year 2015 to 5.52 times in year 2016.
The company's Total
Asset Turnover is calculated as 1.14 times and 0.52 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 63.91 |
|
|
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.71 |
|
Thai Baht |
1 |
INR 2.06 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
NIT |
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.