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|
MIRA INFORM REPORT
|
Report No. : |
485809 |
|
Report Date : |
13.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SIAM COMPRESSOR
INDUSTRY CO., LTD. [SCI] |
|
|
|
|
Registered Office : |
87/10 Moo 2, Laem Chabang
Industrial Estate, Sukhumvit Road, T. Thungsukhla, A. Si Racha, Chonburi 20230 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
07.12.1988 |
|
|
|
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Com. Reg. No.: |
0105531096240 [Former: 9626/2531] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject’s activities
are manufacturer, distributor
and exporter of
rotary compressor, scroll
compressors and inverter
compressor under its
own brands: “SCI”
and “MITSUBISHI” for air-conditioning applications with
smaller vibration, lower
noise, more compact
and lightweight body,
ranging from 7,000
BTU/h to 42,000
BTU/h. |
|
|
|
|
No. of Employees : |
2,100 |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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|
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|
Payment Behaviour : |
Regular |
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|
|
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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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 sustained strong growth and 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.
Growth has slowed in the last few years, however, due to domestic
political turmoil and sluggish global demand. Nevertheless, 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, Thailand faces labor shortages, and domestic debt
levels, political uncertainty, and an aging population pose risks to growth.
|
Source
: CIA |
Company
name
SIAM COMPRESSOR
INDUSTRY CO., LTD. [SCI]
SUMMARY
BUSINESS ADDRESS : 87/10
MOO 2, LAEM CHABANG INDUSTRIAL
ESTATE, SUKHUMVIT ROAD,
T. THUNGSUKHLA,
A. SI RACHA,
CHONBURI 20230,
THAILAND
TELEPHONE : [66] 38
490-900-10
FAX : [66] 38
490-919, 490-917
E-MAIL ADDRESS : marketing@siamcompressor.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1988
REGISTRATION NO. : 0105531096240 [Former: 9626/2531]
TAX ID NO. : 3101597189
CAPITAL REGISTERED : BHT.
1,603,800,000
CAPITAL PAID-UP : BHT.
1,603,800,000
SHAREHOLDER’S PROPORTION : FOREIGN :
98.00%
THAI
: 2.00%
FISCAL YEAR CLOSING DATE : MARCH 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
TAKESHI FUSHIKI, JAPANESE
MANAGING DIRECTOR
NO. OF STAFF : 2,100
LINES OF BUSINESS : COMPRESSOR
MANUFACTURER, 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 December
7, 1988 as
a private limited
company under the
registered name SIAM
COMPRESSOR INDUSTRY CO., LTD., by
Thai and foreign
groups, with the
business objective to
produce rotary compressor,
scroll compressor and inverter
compressor for air
conditioning applications. Its
scroll compressor used technology of Frame Compliance Mechanism
(FCM) from Mitsubishi Electric
Corporation in Japan.
It currently employs
approximately 2,100 staff.
It was formerly a
joint venture between Siam Cement Group,
Thailand and Mitsubishi
Electric Corporation (MELCO) Japan. Presently, the
subject becomes a
joint investment among
Mitsubishi Electric Corporation,
Mitsubishi Electric Consumer
Products (Thailand) Co., Ltd., Mitsubishi Electric
Asia Pte. Ltd.,
and Kan Yong
Electric Public Company
Limited, with holding
around 68.30%, 19.70%,
10.00% and 2.00%
of the subject’s shares respectively.
The subject has
been granted promotional
privileges by the
Board of Investment
for compressor production.
It is also
the first rotary
compressor company and factory
in Thailand.
It also achieved
the quality system
standards ISO 9001, ISO 14001
and TIS 19001
certification.
The subject’s registered
address is 87/10
Moo 2, Laem
Chabang Industrial Estate,
Sukhumvit Rd., T. Thungsukhla, A. Si
Racha, Chonburi 20230, and this
is the company’s current
operation address.
THE BOARD OF
DIRECTORS
|
Name |
Nationality |
Age |
|
|
|
|
|
Mr. Pramon Sutivong |
Thai |
79 |
|
Mr. Masatoshi Namura |
Japanese |
59 |
|
Mr. Kajonsak Suwattanakorn |
Thai |
51 |
|
Mr. Taro Kato |
Japanese |
51 |
|
Mr. Tadashi Matsumoto |
Japanese |
60 |
|
Mr. Ryoji Ando |
Japanese |
59 |
|
Mr. Norikazu Ishikawa |
Japanese |
58 |
|
Mr. Takeshi Fushiki |
Japanese |
61 |
|
Mr. Fumiaki Sano |
Japanese |
60 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with company’s affixed.
MANAGEMENT
Mr. Takeshi Fushiki is the
Managing Director.
He is Japanese
nationality with the
age of 61
years old.
Mr. Kajonsak Suwattanakorn is
the Deputy Managing
Director.
He is Thai
nationality with the
age of 51
years old.
Mr. Chaidee Anan-niyom
is the Marketing
and Sales Manager.
He is Thai
nationality.
Ms. Patchanee Minratanakorn is the
Administration and Human Resources Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activities
are manufacturer, distributor
and exporter of
rotary compressor, scroll
compressors and inverter
compressor under its
own brands: “SCI”
and “MITSUBISHI” for air-conditioning applications
with smaller vibration,
lower noise, more
compact and lightweight
body, ranging from
7,000 BTU/h to
42,000 BTU/h, which are
available for:
Refrigerator : R-22,
R-407C, R-410A and
Ultra tropical
Electricity System : 50Hz and
60Hz
The subject is
also a contract
manufacturer of the
products under customer’s
brands.
PRODUCTION CAPACITY
4,000,000 units/year
PURCHASE
80% of raw
materials and accessories
are purchased from
local suppliers, the
remaining 20% and
machineries are imported from
Japan, India, Malaysia,
Taiwan, Republic of
China and Germany.
MAJOR SUPPLIERS
Mitsubishi Electric Corporation
: Japan
Siam NPR Co., Ltd.
: Thailand
Bangkok Special Steel
Co., Ltd. : Thailand
SALES
80% of the
products is exported
to Japan, Argentina,
Taiwan, Singapore,
Republic of China, Hong Kong, Indonesia, Australia,
Vietnam, Korea, United
Kingdom, New Zealand,
Malaysia, Pakistan, Philippines,
India and the remaining
20% is sold
locally.
MAJOR CUSTOMERS
Mitsubishi Electric Corporation :
Japan
Kang Yong Electric
Public Co., Ltd. : Thailand
Mitsubishi Electric Asia Pte., Ltd. : Singapore
Taiwan Kolin Co.,
Ltd. : Taiwan
Mitsubishi Electric Europe
B.V. : United Kingdom
Daikin Industries (Thailand)
Co., Ltd. : Thailand
Mitsubishi Electric Consumer
Products (Thailand) Co.,
Ltd. : Japan
Thai Samsung Electronics
Co., Ltd. : Thailand
Uniaire Corporation Co.,
Ltd. : Thailand
PARENT COMPANY
Mitsubishi Electric Corporation
Address : 7-3-2
Chome Marunouchi, Chiyoda-ku,
Tokyo, Japan
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
according to the
past two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are paid
by cash or
on the credits
term of 30-60
days.
Imports are by
L/C at sight
or T/T.
Exports are against
L/C at sight or T/T.
BANKING
Kasikornbank Public Company
Limited
[Head Office
: 1 Kasikorn
Lane, Rajburana Road,
Rajburana, Bangkok 10140]
Krung Thai Bank
Public Company Limited
[Head Office
: 35 Sukhumvit
Road, Klongtoeynua, Wattana,
Bangkok 10110]
The Siam Commercial
Bank Public Company
Limited
[Head Office
: 9 Ratchadapisek
Road, Jatujak, Bangkok
10900]
Bank of Ayudhya
Public Company Limited
EMPLOYMENT
The subject employs
approximately 2,100 staff. [office
staff and factory
workers]
LOCATION DETAILS
The premise is
owned for operating
office and factory
at the heading
address. Premise is
located in industrial
area.
Marketing Office:
32nd Floor, S.M.
Tower, 979/108-110 Phaholyothin
Rd., Samsennai, Phyathai,
Bangkok 10400, Tel.
: [66] 2298-0378,
Fax. : [66]
2298-0411-2.
COMMENT
The subject’s operating
performance as of
March 31, 2017
was satisfactory in
relation to high demand
of the products
in both domestic and
export markets. The
product quality is
well-accepted internationally.
The productions are
produced with the
best quality - world standard
that meet the
customers need and
environmentally benign.
The subject has
undergone a great
business expansion and
extended its market
reach from Thailand’s to
many countries around
the world. The subject’s
business is solid
and expanding steadily.
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
followed:
Bht. 180,000,000
on February 22, 1989
Bht. 360,000,000
on October 30,
1992
Bht. 720,000,000
on July 1,
1999
Bht. 1,188,000,000 on
April 19, 2003
Bht. 1,603,800,000 on
August 26, 2003
The latest registered
capital was increased to Bht. 1,603,800,000
divided into 16,038,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS LISTED WERE
: [as at
July 11, 2016]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mitsubishi Electric Corporation
Nationality: Japanese Address : 7-3-2
Chome Marunouchi, Chiyoda-ku,
Tokyo, Japan
|
10,953,954 |
68.30 |
|
Mitsubishi Electric Consumer Products (Thailand) Co., Ltd. Nationality: Japanese Address : 700/406
Moo 7, Donhuaroh,
Muang, Chonburi |
3,159,486 |
19.70 |
|
Mitsubishi Electric Asia Pte.
Ltd. Nationality: Singaporean Address : Mitsubishi
Electric Building, 307 Alexandra Road, #05-01 Singapore |
1,603,800 |
10.00 |
|
Kang Yong Electric
Public Company Limited
Nationality: Thai Address : 67
Moo 1, Bangna-Trad
Rd., Bangchalong,
Bangplee, Samutprakarn |
320,760 |
2.00 |
Total Shareholders : 4
Share Structure [as
at July 11,
2016]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
320,760 |
2.00 |
|
Foreign |
3 |
15,717,240 |
98.00 |
|
Total |
4 |
16,038,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Dussanee Yimsuwan No.
10235
BALANCE SHEET [BAHT]
The latest financial figures published as
at March 31,
2017, 2016 and
2015 were:
ASSETS
|
Current Assets |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Cash and Cash Equivalents |
2,924,051,994 |
2,213,666,155 |
1,548,672,066 |
|
Short-term Investments |
840,000,000 |
1,170,000,000 |
770,000,000 |
|
Trade Accounts and
Other Receivable |
1,669,791,063 |
1,746,103,656 |
1,676,831,846 |
|
Short-term Lending |
3,110,376,815 |
3,063,542,461 |
2,588,408,252 |
|
Inventories |
1,099,479,093 |
1,169,441,545 |
1,279,949,949 |
|
Other Current Assets |
329,784,000 |
282,792,000 |
300,000,000 |
|
|
|
|
|
|
Total Current Assets
|
9,973,482,965 |
9,645,545,817 |
8,163,862,113 |
|
|
|
|
|
|
Investment in Associated Company |
686,462,400 |
686,462,400 |
686,462,400 |
|
Other Long-term Investment |
250,000,000 |
100,000,000 |
100,000,000 |
|
Property, Plant and Equipment |
3,486,832,950 |
3,472,827,158 |
3,836,146,529 |
|
Intangible Assets |
32,048,125 |
20,023,735 |
21,432,988 |
|
Other Non-current Assets |
51,913,008 |
53,701,256 |
51,132,382 |
|
Total Assets |
14,480,739,448 |
13,978,560,366 |
12,859,036,412 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Trade Accounts and
Other Payable |
1,541,577,114 |
1,378,947,107 |
1,355,825,201 |
|
Accrued Income Tax |
77,221,172 |
61,258,752 |
54,782,095 |
|
Other Current Liabilities |
449,829,744 |
610,180,224 |
497,550,972 |
|
|
|
|
|
|
Total Current Liabilities |
2,068,628,030 |
2,050,386,083 |
1,908,158,268 |
|
|
|
|
|
|
Estimated Liabilities for Employee Benefits |
181,713,713 |
156,481,012 |
134,262,895 |
|
Total Liabilities |
2,250,341,743 |
2,206,867,095 |
2,042,421,163 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value Authorized and
issued share capital
16,038,000 shares |
1,603,800,000 |
1,603,800,000 |
1,603,800,000 |
|
|
|
|
|
|
Capital Paid |
1,603,800,000 |
1,603,800,000 |
1,603,800,000 |
|
Retained Earnings: Appropriated for Statutory
Reserve |
160,380,000 |
160,380,000 |
160,380,000 |
|
Unappropriated |
10,466,217,705 |
10,007,513,271 |
9,052,435,249 |
|
Total Shareholders' Equity |
12,230,397,705 |
11,771,693,271 |
10,816,615,249 |
|
Total Liabilities and
Shareholders' Equity |
14,480,739,448 |
13,978,560,366 |
12,859,036,412 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Sales or Services Income |
9,589,782,283 |
8,989,894,338 |
9,515,560,740 |
|
Other Income |
1,695,318,889 |
1,277,238,636 |
1,294,241,458 |
|
Total Revenues |
11,285,318,889 |
10,267,132,974 |
10,809,802,198 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Other Expenses |
8,366,406,640 |
8,022,332,552 |
8,585,885,904 |
|
Total Expenses |
8,366,406,640 |
8,022,332,552 |
8,585,885,904 |
|
Profit /[Loss] before Income
Tax |
2,918,694,532 |
2,244,800,422 |
2,223,916,294 |
|
Income Tax |
[166,556,098] |
[118,948,400] |
[111,356,688] |
|
|
|
|
|
|
Net Profit / [Loss] |
2,752,138,434 |
2,125,852,022 |
2,112,559,606 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2017 |
2016 |
2015 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
4.82 |
4.70 |
4.28 |
|
QUICK RATIO |
TIMES |
4.13 |
4.00 |
3.45 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.75 |
2.59 |
2.48 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.66 |
0.64 |
0.74 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
- |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
63.55 |
70.89 |
64.32 |
|
RECEIVABLES TURNOVER |
TIMES |
5.74 |
5.15 |
5.67 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
- |
- |
- |
|
CASH CONVERSION CYCLE |
DAYS |
63.55 |
70.89 |
64.32 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
- |
- |
- |
|
SELLING & ADMINISTRATION |
% |
- |
- |
- |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
117.68 |
114.21 |
113.60 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
30.44 |
24.97 |
23.37 |
|
NET PROFIT MARGIN |
% |
28.70 |
23.65 |
22.20 |
|
RETURN ON EQUITY |
% |
22.50 |
18.06 |
19.53 |
|
RETURN ON ASSET |
% |
19.01 |
15.21 |
16.43 |
|
EARNING PER SHARE |
BAHT |
171.60 |
132.55 |
131.72 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.16 |
0.16 |
0.16 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.18 |
0.19 |
0.19 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
6.67 |
(5.52) |
|
|
OPERATING PROFIT |
% |
30.03 |
0.94 |
|
|
NET PROFIT |
% |
29.46 |
0.63 |
|
|
FIXED ASSETS |
% |
0.40 |
(9.47) |
|
|
TOTAL ASSETS |
% |
3.59 |
8.71 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 6.67%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
117.68 |
Impressive |
Industrial Average |
- |
|
Net Profit Margin |
28.70 |
Impressive |
Industrial Average |
15.32 |
|
Return on Assets |
19.01 |
Impressive |
Industrial Average |
15.28 |
|
Return on Equity |
22.50 |
Impressive |
Industrial Average |
19.91 |
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. Gross Profit Margin is 117.68%. 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. Net Profit Margin ratio is 28.7%,
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
19.01%, 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 22.5%, 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 Uptrend
Return on Equity Uptrend
LIQUIDITY :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
4.82 |
Impressive |
Industrial Average |
3.62 |
|
Quick Ratio |
4.13 |
|
|
|
|
Cash Conversion Cycle |
63.55 |
|
|
|
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 4.82 times in 2017, increase from 4.7 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 4.13 times in 2017,
increase from 4 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 64 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.16 |
Impressive |
Industrial Average |
0.19 |
|
Debt to Equity Ratio |
0.18 |
Impressive |
Industrial Average |
0.23 |
|
Times Interest Earned |
- |
|
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.16 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
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.75 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.66 |
Satisfactory |
Industrial Average |
1.00 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
5.89 |
|
Receivables Conversion Period |
63.55 |
|
|
|
|
Receivables Turnover |
5.74 |
Satisfactory |
Industrial Average |
7.72 |
|
Payables Conversion Period |
- |
|
|
|
The company's Account Receivable Ratio is calculated as 5.74 and
The company's Total Asset Turnover is calculated as 0.66 times and 0.64
times in 2017 and 2016 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 63.52 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
|
Thai Baht |
1 |
INR 2.00 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
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.