|
|
|
MIRA INFORM REPORT
|
Report No. : |
486838 |
|
Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
IMCO PACK CORPORATION LIMITED |
|
|
|
|
Registered Office : |
588/85 Soi Buan Hua, Sathupradit Road, Bangpongpang, Yannawa, Bangkok 10120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
27.10.1983 |
|
|
|
|
Com. Reg. No.: |
0105526045276 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer and Contractor of Plastic Packaging Products. |
|
|
|
|
No. of Employees : |
800 |
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 : |
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 (30.06.2017) |
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
IMCO PACK
CORPORATION LIMITED
SUMMARY
BUSINESS
ADDRESS : 588/85 SOI
BUAN HUA, SATHUPRADIT
ROAD,
BANGPONGPANG, YANNAWA,
BANGKOK 10120,
THAILAND
TELEPHONE : [66] 2295-4926-30,
2294-2122-5
FAX :
[66] 2294-3782
E-MAIL
ADDRESS : webmaster@impack.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1983
REGISTRATION
NO. : 0105526045276 [Former : 4532/2526]
TAX
ID NO. : 3101270655
CAPITAL REGISTERED : BHT. 200,000,000
CAPITAL PAID-UP : BHT.
200,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. JENVUTH PHANRATANAMONGKOL, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 800
LINES
OF BUSINESS : PLASTIC
PACKAGING PRODUCTS
MANUFACTURER
AND CONTRACTOR
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 October 27,
1983 as a
private limited company
under the registered name IMCO
PACK CORPORATION LIMITED by Thai groups, the Phanratanamongkol family,
with the business
objective to manufacture
various kinds of
plastic packaging products.
It currently employs
approximately 800 staff.
The
subject achieved the
standard ISO 14001 : 2004 certification
by SGS, on
March 22, 2010.
The
subject’s registered address
is 588/85 Soi Buan Hua, Sathupradit Rd., Bangpongpang,
Yannawa, Bangkok 10120,
and this is
the subject’s current
operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Vibul Phanratanamongkol |
|
Thai |
77 |
|
Mr. Yudhana Phanratanamongkol |
|
Thai |
62 |
|
Mr. Nattapong Phanratanamongkol |
|
Thai |
60 |
|
Mr. Jenvuth Phanratanamongkol |
|
Thai |
71 |
AUTHORIZED
PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Jenvuth Phanratanamongkol is
the Managing Director.
He is Thai
nationality with the
age of 71
years old.
Mr. Yudhana Phanratanamongkol is
the Deputy Managing
Director and
Factory Manager.
He is Thai
nationality with the
age of 62 years
old.
Mr. Nattapong Phanratanamongkol is
the Deputy Managing
Director and Sales
& Marketing Manager.
He is Thai
nationality with the
age of 60
years old.
Ms. Naruemol Phanratanamongkol is
the Administration Manager.
She is Thai
nationality.
BUSINESS
OPERATIONS
The subject is engaged
in manufacturing and
servicing various kinds of
plastic packaging products,
as well as silkscreen
printing and label
printing for cosmetics,
consumer, toiletries, pharmaceutical and
food products.
The products and
services are as
the followings:
- Plastic bottle
: Mono Layer,
Multi Layer
- Closure : Screw,
Flip Top, Snap On, [Single
or Multi Color]
- Jar, Sprout and
etc.
PURCHASE
Raw materials such
as plastic resin
and chemicals are
purchased from suppliers
and agents both domestic
and overseas, mainly in Germany, Japan, Taiwan, Republic of
China, India, Singapore and Malaysia.
MAJOR SUPPLIERS
IRPC Public Company
Limited :
Thailand
Inabata Thai Co.,
Ltd. : Thailand
SALES/SERVICES
80% of the
products is sold
locally to manufacturers
and end-users, the
remaining 20% is
exported to U.S.A.,
Colombia, Japan, Singapore,
India, Vietnam, Indonesia,
Malaysia, Korea and
the countries in
Europe.
MAJOR CUSTOMERS
Marietta
LA-PAC Inc. : U.S.A.
Colgate-Palmolive (Thailand)
Co., Ltd. :
Thailand
American
Tool & Mold Inc. : U.S.A.
Unilever
Thai Trading Co.,
Ltd. : Thailand
Unilever
Andina Colombia Ltda
Cod. : Colombia
Lion
Corporation (Thailand) Co., Ltd. : Thailand
TTC
Siam Drinking water
Co., Ltd. :
Thailand
Boonrawd
Asia Beverage Co.,
ltd. : Thailand
RELATED
AND AFFILIATED COMPANIES
Combipack Co., Ltd.
Business Type :
Manufacturer of plastic
packaging
Imco Food Pack
Co., Ltd.
Business Type :
Manufacturer of plastic
packaging
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 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public Company
Limited
Kasikornbank
Public Company Limited
Krung
Thai Bank Public
Company Limited
EMPLOYMENT
The subject
employs approximately 800
staff. [office, sales
staff and factory
workers]
LOCATION
DETAILS
The
premise is owned for
administrative office at the heading
address. Premise is located in
commercial/ residential area.
Factories
are as the
followings:
·
588/57 Soi
Buan Hua, Sathupradit Rd.,
Bangpongpang, Yannawa, Bangkok
10120
·
576/84 Soi
Buan Hua, Sathupradit Rd.,
Bangpongpang, Yannawa, Bangkok
10120
·
576/76 Soi
Buan Hua, Sathupradit Rd.,
Bangpongpang, Yannawa, Bangkok
10120
·
92/17
Moo 7, Bangna-Trad
Rd., Bangchalong, Bangplee, Samutprakarn
10540
Tel. [66]
2750-9494, Fax. [66] 2750-9496
COMMENT
The
subject has been
enjoying an outstanding performance
in the past
several years. Consumption growth of various kinds of
products has currently
resulted to strong sales. Subject’s high
quality standard manufacturing has
convinced various industries
to source the products
from the company.
However, during the past few years overall
industries seemed slowing
down from shrinking domestic
consumption. The subject
was inevitably hit and
resulted to a
decrease in sales
or service income
and net profit
in 2016 comparing
to the previous year.
Nevertheless, the subject’s
business remains solid
and profitable.
FINANCIAL
INFORMATION
The capital was registered at Bht.
15,000,000 divided into 15,000 shares of Bht. 1,000 each.
The capital was increased later as
following:
Bht. 45,000,000
on August 25,
1988
Bht. 200,000,000
on June 25,
1999
The
latest registered capital was
increased to Bht.
200,000,000 divided into
200,000 shares of
Bht. 1,000 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
[As
at April 28, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Vibul Phanratanamongkol Nationality: Thai Address : 8
Moo 2, Nongbon,
Praves, Bangkok |
99,999 |
50.00 |
|
Mr. Jenvuth
Phanratanamongkol Nationality: Thai Address : 627/9
Sathupradit Rd., Bangpongpang,
Yannawa, Bangkok |
30,000 |
15.00 |
|
Mr. Yudhana Phanratanamongkol Nationality: Thai Address : 58/44
Chuaplerng Rd., Chongnonsi,
Yannawa, Bangkok |
26,000 |
13.00 |
|
Mr. Nattapong Phanratanamongkol Nationality: Thai Address : 588/85
Sathupradit Rd., Bangpongpang,
Yannawa, Bangkok |
26,000 |
13.00 |
|
Mrs. Achara Phanratanamongkol Nationality: Thai Address : 600/77 Sathupradit Rd.,
Bangpongpang,
Yannawa, Bangkok |
10,000 |
5.00 |
|
Ms. Naruemol Phanratanamongkol Nationality: Thai Address : 28/40
Moo 8, Bangmod,
Jomthong, Bangkok |
6,000 |
3.00 |
|
Mr. Udomsak Phanratanamongkol Nationality: Thai Address : 8
Moo 2, Nongbon,
Praves, Bangkok |
2,001 |
1.00 |
Total Shareholders : 7
Share
Structure
[as at April
28, 2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
200,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
200,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Opas Sroymanee No.
0519
BALANCE
SHEET [BAHT]
The latest
financial figures published as
at December 31,
2016, 2015 and
2014 were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash Equivalents |
137,826,022.45 |
71,126,864.86 |
143,753,158.68 |
|
Trade Accounts and Other
Receivable |
367,750,641.49 |
498,970,333.51 |
518,092,509.91 |
|
Inventories |
109,512,309.67 |
131,848,918.64 |
146,507,674.18 |
|
Other Current Assets
|
52,347,030.24 |
51,302,124.21 |
41,313,778.62 |
|
|
|
|
|
|
Total Current Assets
|
667,436,003.85 |
753,248,241.22 |
849,667,121.39 |
|
Long-term Investment |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
Property, Plant and Equipment |
539,024,928.22 |
615,618,151.55 |
725,780,136.99 |
|
Other Non-current Assets |
2,228,125.35 |
6,952,379.48 |
3,139,585.01 |
|
Total Assets |
1,228,689,057.42 |
1,395,818,772.25 |
1,598,586,843.39 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and Short-term Loan from Financial Institution |
226,000,000.00 |
187,200,000.00 |
438,369,803.73 |
|
Trade Accounts and
Other Payable |
210,092,602.82 |
396,623,857.02 |
323,738,247.85 |
|
Accrued Income Tax |
12,218,034.91 |
11,880,979.50 |
10,142,577.15 |
|
Other Current Liabilities |
79,227,856.91 |
12,244,469.87 |
12,285,211.32 |
|
|
|
|
|
|
Total Current Liabilities |
527,538,494.64 |
607,949,306.39 |
784,535,840.05 |
|
Provision for Employee
Benefit |
39,434,362.50 |
38,123,077.91 |
33,244,139.95 |
|
Total Liabilities |
566,972,857.14 |
646,072,384.30 |
817,779,980.00 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value Authorized and issued share capital
200,000 shares |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
|
|
|
|
|
Capital Paid |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
Retained Earnings: Appropriated for statutory
reserve |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
Unappropriated |
441,716,200.28 |
529,746,387.95 |
560,806,863.39 |
|
Total Shareholders' Equity |
661,716,200.28 |
749,746,387.95 |
780,806,863.39 |
|
Total Liabilities and
Shareholders' Equity |
1,228,689,057.42 |
1,395,818,772.25 |
1,598,586,843.39 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services |
1,807,843,518.23 |
2,303,664,296.90 |
2,444,911,221.04 |
|
Other Income |
104,363,029.93 |
138,651,985.11 |
100,153,162.04 |
|
Total Revenues |
1,912,206,548.16 |
2,442,316,282.01 |
2,545,064,383.08 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
1,612,726,287.12 |
2,039,325,613.05 |
2,196,823,575.63 |
|
Selling Expenses |
138,267,199.82 |
142,596,870.89 |
145,741,078.86 |
|
Administrative Expenses |
19,759,495.13 |
16,521,880.79 |
17,650,488.93 |
|
|
|
|
|
|
Total Expenses |
1,770,752,982.07 |
2,198,444,364.73 |
2,360,215,143.42 |
|
|
|
|
|
|
Profit /[Loss] before Financial
Cost and Income
Tax |
141,453,566.09 |
243,871,917.28 |
184,849,239.66 |
|
Financial Cost |
[6,113,625.70] |
[7,436,486.36] |
[16,555,967.02] |
|
|
|
|
|
|
Profit /[Loss] before Income
Tax |
135,339,940.39 |
236,435,430.92 |
168,293,272.64 |
|
Income Tax |
[23,370,128.06] |
[37,686,703.69] |
[24,939,032.73] |
|
Net Profit / [Loss] |
111,969,812.33 |
198,748,727.23 |
143,354,239.91 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.27 |
1.24 |
1.08 |
|
QUICK RATIO |
TIMES |
0.96 |
0.94 |
0.84 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.35 |
3.74 |
3.37 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.47 |
1.65 |
1.53 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
24.79 |
23.60 |
24.34 |
|
INVENTORY TURNOVER |
TIMES |
14.73 |
15.47 |
14.99 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
74.25 |
79.06 |
77.35 |
|
RECEIVABLES TURNOVER |
TIMES |
4.92 |
4.62 |
4.72 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
47.55 |
70.99 |
53.79 |
|
CASH CONVERSION CYCLE |
DAYS |
51.48 |
31.67 |
47.90 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
89.21 |
88.53 |
89.85 |
|
SELLING & ADMINISTRATION |
% |
8.74 |
6.91 |
6.68 |
|
INTEREST |
% |
0.34 |
0.32 |
0.68 |
|
GROSS PROFIT MARGIN |
% |
16.57 |
17.49 |
14.24 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.82 |
10.59 |
7.56 |
|
NET PROFIT MARGIN |
% |
6.19 |
8.63 |
5.86 |
|
RETURN ON EQUITY |
% |
16.92 |
26.51 |
18.36 |
|
RETURN ON ASSET |
% |
9.11 |
14.24 |
8.97 |
|
EARNING PER SHARE |
BAHT |
559.85 |
993.74 |
716.77 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.46 |
0.46 |
0.51 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.86 |
0.86 |
1.05 |
|
TIME INTEREST EARNED |
TIMES |
23.14 |
32.79 |
11.17 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(21.52) |
(5.78) |
|
|
OPERATING PROFIT |
% |
(42.00) |
31.93 |
|
|
NET PROFIT |
% |
(43.66) |
38.64 |
|
|
FIXED ASSETS |
% |
(12.44) |
(15.18) |
|
|
TOTAL ASSETS |
% |
(11.97) |
(12.68) |
|
ANNUAL GROWTH:
RISKY
An annual sales growth is -21.52%. Turnover has decreased from THB
PROFITABILITY:
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
16.57 |
Impressive |
Industrial
Average |
14.83 |
|
Net Profit Margin |
6.19 |
Satisfactory |
Industrial
Average |
7.45 |
|
Return on Assets |
9.11 |
Impressive |
Industrial
Average |
8.30 |
|
Return on Equity |
16.92 |
Impressive |
Industrial
Average |
15.72 |
Gross Profit Margin used to assess a firm's financial health by revealing
the proportion of money left over from revenues after accounting for the cost
of goods sold. Gross profit margin serves as the source for paying additional
expenses and future savings. Gross Profit Margin is 16.57%. When compared with
the industry average, the ratio of the company was higher, indicated that
company was more profitable than the same industry.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. The company's figure is 6.19%.
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. Return on Assets ratio is
9.11%, 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 16.92%, 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:
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.27 |
Impressive |
Industrial
Average |
1.23 |
|
Quick Ratio |
0.96 |
|
|
|
|
Cash Conversion Cycle |
51.48 |
|
|
|
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 1.27 times in 2016, increase from 1.24 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 0.96 times in 2016,
increase from 0.94 times, by excluding inventory, the company may have problems
meeting current liabilities.
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 52 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE:
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.46 |
Acceptable |
Industrial
Average |
0.45 |
|
Debt to Equity Ratio |
0.86 |
Impressive |
Industrial
Average |
0.83 |
|
Times Interest Earned |
23.14 |
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 23.14 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 0.46 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 |
3.35 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.47 |
Impressive |
Industrial
Average |
1.11 |
|
Inventory Conversion Period |
24.79 |
|
|
|
|
Inventory Turnover |
14.73 |
Impressive |
Industrial
Average |
7.20 |
|
Receivables Conversion Period |
74.25 |
|
|
|
|
Receivables Turnover |
4.92 |
Satisfactory |
Industrial
Average |
5.69 |
|
Payables Conversion Period |
47.55 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.92 and
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has increased from 24 days at the
end of 2015 to 25 days at the end of 2016. This represents a negative trend.
And Inventory turnover has decreased from 15.47 times in year 2015 to 14.73
times in year 2016.
The company's Total Asset Turnover is calculated as 1.47 times and 1.65
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 63.89 |
|
|
1 |
INR 88.60 |
|
Euro |
1 |
INR 78.12 |
|
Thai Baht |
1 |
INR 2.00 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.