|
|
|
MIRA INFORM REPORT
|
Report No. : |
494510 |
|
Report Date : |
05.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
DOHOME CO., LTD. |
|
|
|
|
Formerly Known As : |
UBON WATSADU CO., LTD.] |
|
|
|
|
Registered Office : |
37-47 Srimongkol Road, T. Warinchamrab, A. Warinchamrab, Ubonratchathani 34190 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
22.11.1993 |
|
|
|
|
Com. Reg. No.: |
0345536000281 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The
subject is engaged
in wholesale and
retail distributing various
kinds of construction and
building materials, as
well as other
related products such
as home decorative
products, electrical equipment,
gardening products, hardware
and tools, kitchen
equipment, stationery, sporting
goods, car accessories, DIY
pet cages, bathrooms & accessories. |
|
|
|
|
No. of Employees : |
600 |
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 (30.09.2017) |
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
and address
DOHOME CO., LTD.
[FORMER :
UBON WATSADU CO.,
LTD.]
SUMMARY
BUSINESS ADDRESS : 37-47
SRIMONGKOL ROAD, T.
WARINCHAMRAB,
A.
WARINCHAMRAB, UBONRATCHATHANI
34190,
THAILAND
TELEPHONE : [66] 45
352-888
FAX :
[66] 45
352-800
E-MAIL ADDRESS : dohome-ecm@dohome.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1993
REGISTRATION NO. : 0345536000281
TAX ID NO. : 3351001993
CAPITAL REGISTERED
: BHT.
1,400,000,000
CAPITAL PAID-UP
: BHT.
1,400,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR
CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. ADISAK TANGMITRPHRACHA, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 600
LINES OF
BUSINESS : CONSTRUCTION AND
BUILDING MATERIALS
DEALER
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 November
22, 1993 as a
private limited company
under the originally
registered name “Ubon
Watsadu Co., Ltd.”
by Thai group.
On October
28, 2005 and
November 23, 2005,
its registered name
was changed to “Siam House & Home Center
Co., Ltd.” and “Ubon
Watsadu Co., Ltd.” respectively.
On December
15, 2015, the
registered name was
finally changed to
DOHOME CO., LTD.
Its business objective
is to distribute
various kinds of
construction and building
materials. It currently
employs approximately 600
staff.
The subject’s
registered address is
37-47 Srimongkol Road,
T. Warinchamrab,
A. Warinchamrab, Ubonratchathani 34190,
and this is
the subject’s current
operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Adisak
Tangmitrphracha |
[x] |
Thai |
65 |
|
Mrs. Nattaya Tangmitrphracha |
[x] |
Thai |
64 |
|
Ms. Ariya
Tangmitrphracha |
|
Thai |
35 |
|
Mr. Maruay
Tangmitrphracha |
|
Thai |
27 |
|
Mrs. Saliltip Ruangsuttipap |
|
Thai |
35 |
|
Mr. Pinit
Charoenphan |
|
Thai |
64 |
|
Mr. Chalit
Thongprayoon |
|
Thai |
61 |
|
Mr. Chatrchai Tuongratanaphan |
|
Thai |
62 |
AUTHORIZED
PERSON
One
of the mentioned
directors [x] can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Adisak
Tangmitrphracha is
the Managing Director.
He
is Thai nationality
with the age
of 65 years
old.
Mrs. Nattaya
Tangmitrphracha is the Deputy
Managing Director.
She
is Thai nationality
with the age
of 64 years
old.
Ms. Nongyao
Sa-ard
is the Human
Resources Manager.
She
is Thai nationality.
BUSINESS
OPERATIONS
The
subject is engaged
in wholesale and
retail distributing various
kinds of construction
and building materials,
as well as
other related products
such as home
decorative products, electrical
equipment, gardening products,
hardware and tools,
kitchen equipment, stationery,
sporting goods, car
accessories, DIY pet cages,
bathrooms & accessories .
There
are over 200,000
product items available
at “DOHOME” store.
Its products are
also sold on-line
via website www.dohome.co.th.
PURCHASE
100%
of the products
is purchased from
local suppliers.
MAJOR SUPPLIER
Siam
PDM Co., Ltd.
American
Standard B&K (Thailand)
Public Company Limited
Asia
Distribution & Marketing
(Thailand) Co., Ltd.
ICI
Paints (Thailand) Co.,
Ltd.
T.C.
Group Co., Ltd.
New
Design Fiber Co.,
Ltd.
Beger
Co., Ltd.
Jorakay
Corporation Co., Ltd.
SALES
100%
of the products
is sold locally
to wholesalers, retailers,
and end-users through
“DOHOME” store and www.dohome.co.th.
SUBSIDIARY
AND AFFILIATED COMPANY
The
subject is not
found to have
any subsidiary or
affiliated company here
in Thailand.
LITIGATION
Bankruptcy
and Receivership
There
are no litigation
on bankruptcy and
receivership cases filed
against the subject
found at Legal
Execution Department for
the past five
years.
Others
There
are no legal
suits filed against
the subject 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.
BANKING
Bangkok Bank
Public Company Limited
Kasikornbank Public
Company Limited
Krung Thai
Bank Public Company
Limited
EMPLOYMENT
The subject
currently employs approximately
600 staff.
LOCATION DETAILS
The premise
is owned for administrative office
and DOHOME store
at the heading
address. Premise is
located in provincial.
Branch and
DOHOME Store:
-
5
Srimongkol Road, T. Warinchamrab, A. Warinchamrab, Ubonratchathani 34190
-
412 Moo 2, T.
Nongbuasala, A. Muang, Nakornratchasima 30000
-
185/5
Moo 4, T. Rangsit,
A. Thanyaburi, Pathumthani 12110
-
678 Moo 2, T.
Sila, A. Muang, Khon
Kaen 40000
-
888 Moo 11, T.
Moomon, A. Muang, Udornthani
41000
-
88/8
Moo 2, T. Chaimongkol, A. Muang,
Samutsakorn 74000
-
88 Moo 5, T.
Laharn, A. Bangbuathong, Nonthaburi
11110
-
88/8
Moo 3, T. U-Mong,
A. Muang, Lamphun 51150
-
58 Moo 3, T.
Bungkhamproy, A. Lamlukka, Pathumthani
12150
-
88/8
Moo 5, T. Bangsamak,
A. Bangpakong, Chachoengsao 24180
COMMENT
The subject
is a wholesaler
and retailer of
construction and building materials
as well as
other related products
in local market.
Its operating performance
in 2016 was
satisfactory with an
increase in both
sales or service
income and net profit
comparing to the previous
year. DOHOME stores
are located mostly
in provincial serving
the needs and
demand of the
construction and building
materials and related
products of local
customers. Moreover, the
subject’s business is growing and
expanding subsequently. It
expects to open
two new branches /stores yearly.
The subject has
increased its registered
capital to Bht. 1,400,000,000 with
fully paid-up in
2017, this would
assist on th
company’s purchasing power and
business expansion. Generally,
its business is
solid and growing
continuously.
FINANCIAL
INFORMATION
The capital
was registered at
Bht. 20,000,000 divided
into 200,000 shares
of Bht. 100
each with
fully paid.
The capital
was increased later
as follows:
Bht. 50,000,000 on
December 12, 2003
Bht. 180,000,000 on
December 3, 2004
Bht. 300,000,000 on
May 10, 2006
Bht. 400,000,000 on
December 18, 2009
Bht. 610,000,000 on
December 30, 2011
Bht. 1,000,000,000
on September 25,
2014
Bht. 1,400,000,000
on December 25,
2017
The latest
registered capital was
increased to Bht. 1,400,000,000 divided
into 14,000,000
shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
[as at
December 25, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Adisak
Tangmitrphracha Nationality: Thai Address
: 37 Srimongkol
Road, T. Warinchamrab, A. Warinchamrab, Ubonratchathani |
4,775,093 |
34.11 |
|
Mrs. Nattaya Tangmitrphracha Nationality: Thai Address
: 37 Srimongkol
Road, T. Warinchamrab, A. Warinchamrab, Ubonratchathani |
4,775,093 |
34.11 |
|
Ms. Ariya
Tangmitrphracha Nationality: Thai Address
: 5/87 Soi
Rongmuang 5, Rongmuang, Pathumwan,
Bangkok |
1,364,313 |
9.74 |
|
Mrs. Saliltip Ruangsuttipap Nationality: Thai Address
: 5/87 Soi
Rongmuang 5, Rongmuang, Pathumwan,
Bangkok |
1,364,313 |
9.74 |
|
Mr. Maruay
Tangmitrphracha Nationality: Thai Address
: 477
Sanpasit Road, T. Naimuang, A.
Muang, Ubonratchathani |
1,364,313 |
9.74 |
|
Dohome
Holding Co., Ltd. Nationality: Thai Address
: 37 Srimongkol
Road, T. Warinchamrab, A. Warinchamrab, Ubonratchathani |
356,875 |
2.56 |
Total
Shareholders : 6
Share
Structure [as at
December 25, 2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
14,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
6 |
14,000,000 |
100.00 |
NAME
OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO. :
Mr. Kajornkiat Aroonpairojanakul No.
3445
Financials
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 |
66,186,611 |
101,866,337 |
47,764,663 |
|
Trade
Accounts and Other
Receivable |
1,159,124,914 |
1,165,595,828 |
824,188,824 |
|
Short-term Loans |
35,600,000 |
60,000,000 |
- |
|
Inventories |
6,825,807,312 |
5,420,080,646 |
4,455,469,726 |
|
Advance
Payment for Goods |
- |
- |
142,680,864 |
|
Other Current Assets |
63,721,735 |
104,884,244 |
36,327,885 |
|
Non-current Assets Held for Sale |
- |
- |
25,515,755 |
|
Total
Current Assets |
8,150,440,572 |
6,852,427,055 |
5,531,947,717 |
|
|
|
|
|
|
Cash
at Bank Pledged as
a Collateral |
- |
- |
6,377,335 |
|
Investment
in Subsidiaries |
- |
- |
399,970,000 |
|
Property, Plant and Equipment |
6,521,857,386 |
6,552,150,081 |
5,363,152,463 |
|
Leasehold |
- |
- |
10,605,922 |
|
Intangible Assets |
43,771,423 |
11,821,609 |
18,423,504 |
|
Other
Non-current Assets |
137,615,316 |
110,450,095 |
- |
|
Total
Assets |
14,853,684,697 |
13,526,848,840 |
11,330,476,941 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and Short-term Loan from Financial Institutions |
7,067,424,331 |
5,346,884,992 |
4,838,017,795 |
|
Trade Accounts and Other Payable |
2,081,717,701 |
3,245,730,485 |
2,292,702,906 |
|
Current Portion of Long-term Liabilities |
531,514,964 |
474,716,624 |
325,780,863 |
|
Current Portion of Financial Lease Contract Liabilities |
- |
- |
5,204,479 |
|
Short-term Loan |
- |
4,154,457 |
- |
|
Accrued Income Tax |
3,879,345 |
39,094,053 |
35,841,810 |
|
Other Current Liabilities |
175,263,569 |
12,177,717 |
5,229,635 |
|
Total Current Liabilities |
9,859,799,910 |
9,122,758,328 |
7,502,777,488 |
|
|
|
|
|
|
Long-term
Loan |
1,570,536,257 |
1,807,890,078 |
1,228,569,280 |
|
Financial Lease Contract Liabilities, Net |
- |
- |
8,523,805 |
|
Provision for Employee Benefits |
21,294,055 |
19,070,631 |
16,875,461 |
|
Long-term Loan from Related Company |
- |
- |
431,612,000 |
|
Long-term Liabilities |
- |
4,300,935 |
- |
|
Other Non-current Liabilities |
17,733,637 |
21,108,406 |
14,607,453 |
|
Total
Liabilities |
11,469,363,859 |
10,975,128,378 |
9,202,965,487 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share
capital : Baht 100 par
value authorized, and
issued share capital 10,000,000
shares |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
Capital
Paid |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
Retained Earning -Unappropriated [Deficit] |
2,384,320,838 |
1,551,720,462 |
1,127,511,454 |
|
Total
Shareholders’ Equity |
3,384,320,838 |
2,551,720,462 |
2,127,511,454 |
|
Total
Liabilities and Shareholders’ Equity |
14,853,684,697 |
13,526,848,840 |
11,330,476,941 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales
or Services Income |
18,538,093,092 |
16,617,612,752 |
14,598,105,765 |
|
Other
Income |
157,071,168 |
152,581,215 |
99,403,101 |
|
Total
Revenues |
18,695,164,260 |
17,070,193,967 |
14,697,508,866 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost
of Goods Sold |
- |
- |
12,805,213,202 |
|
Selling
and Administrative Expenses |
- |
- |
826,902,676 |
|
Other Expenses |
17,338,672,215 |
16,302,009,033 |
146,628,785 |
|
Total Expenses |
17,338,672,215 |
16,302,009,033 |
13,778,744,663 |
|
|
|
|
|
|
Profit
/[Loss] before Financial Cost and Income Tax |
1,356,492,045 |
768,184,934 |
918,764,203 |
|
Financial Cost |
[318,626,187] |
[249,996,141] |
[230,619,479] |
|
|
|
|
|
|
Profit /[Loss] before
Income Tax |
1,037,865,858 |
518,188,793 |
688,144,724 |
|
Income
Tax |
[205,265,482] |
[93,979,785] |
[138,163,177] |
|
Net
Profit / [Loss] |
832,600,376 |
424,209,008 |
549,981,547 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY
RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.83 |
0.75 |
0.74 |
|
QUICK RATIO |
TIMES |
0.13 |
0.15 |
0.12 |
|
|
|
|
|
|
|
ACTIVITY
RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.84 |
2.54 |
2.72 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.25 |
1.23 |
1.29 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
127.00 |
|
INVENTORY TURNOVER |
TIMES |
- |
- |
2.87 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
22.82 |
25.60 |
20.61 |
|
RECEIVABLES TURNOVER |
TIMES |
15.99 |
14.26 |
17.71 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
- |
- |
65.35 |
|
CASH CONVERSION CYCLE |
DAYS |
22.82 |
25.60 |
82.25 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
- |
- |
87.72 |
|
SELLING & ADMINISTRATION |
% |
- |
- |
5.66 |
|
INTEREST |
% |
1.72 |
1.50 |
1.58 |
|
GROSS PROFIT MARGIN |
% |
100.85 |
102.72 |
12.96 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.32 |
4.62 |
6.29 |
|
NET PROFIT MARGIN |
% |
4.49 |
2.55 |
3.77 |
|
RETURN ON EQUITY |
% |
24.60 |
16.62 |
25.85 |
|
RETURN ON ASSET |
% |
5.61 |
3.14 |
4.85 |
|
EARNING PER SHARE |
BAHT |
83.26 |
42.42 |
55.00 |
|
|
|
|
|
|
|
LEVERAGE
RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.77 |
0.81 |
0.81 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.39 |
4.30 |
4.33 |
|
TIME INTEREST EARNED |
TIMES |
4.26 |
3.07 |
3.98 |
|
|
|
|
|
|
|
ANNUAL
GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
11.56 |
13.83 |
|
|
OPERATING PROFIT |
% |
76.58 |
(16.39) |
|
|
NET PROFIT |
% |
96.27 |
(22.87) |
|
|
FIXED ASSETS |
% |
(0.46) |
22.17 |
|
|
TOTAL ASSETS |
% |
9.81 |
19.38 |
|
ANNUAL
GROWTH : IMPRESSIVE
An annual sales growth is 11.56%. Turnover
has increased from THB 16,617,612,752.00 in 2015 to THB 18,538,093,092.00 in
2016. While net profit has increased from THB 424,209,008.00 in 2015 to THB
832,600,376.00 in 2016. And total assets has increased from THB
13,526,848,840.00 in 2015 to THB 14,853,684,697.00 in 2016.
PROFITABILITY
: EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
100.85 |
Impressive |
Industrial Average |
1.49 |
|
Net Profit Margin |
4.49 |
Impressive |
Industrial Average |
4.49 |
|
Return on Assets |
5.61 |
Impressive |
Industrial Average |
3.47 |
|
Return on Equity |
24.60 |
Impressive |
Industrial Average |
16.78 |
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
100.85%. 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 4.49%, 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 5.61%, 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 24.6%, 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
: ACCEPTABLE
LIQUIDITY
RATIO
|
Current Ratio |
0.83 |
Risky |
Industrial Average |
0.85 |
|
Quick Ratio |
0.13 |
|
|
|
|
Cash Conversion Cycle |
22.82 |
|
|
|
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 0.83 times in 2016, increase from 0.75 times,
then the company may have problems meeting its short-term obligations. 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 0.13 times in 2016, decrease from 0.15 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
23 days.
Trend
of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE
: ACCEPTABLE
LEVERAGE
RATIO
|
Debt Ratio |
0.77 |
Acceptable |
Industrial Average |
0.76 |
|
Debt to Equity Ratio |
3.39 |
Risky |
Industrial Average |
3.13 |
|
Times Interest Earned |
4.26 |
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 4.26 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 0.77
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 Downtrend
Times Interest Earned Stable
ACTIVITY
: EXCELLENT
ACTIVITY
RATIO
|
Fixed Assets Turnover |
2.84 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.25 |
Impressive |
Industrial Average |
0.77 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
0.08 |
|
Receivables Conversion Period |
22.82 |
|
|
|
|
Receivables Turnover |
15.99 |
Impressive |
Industrial Average |
9.30 |
|
Payables Conversion Period |
- |
|
|
|
The company's Account Receivable Ratio is
calculated as 15.99 and 14.26 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 increased from 2015. This would suggest
the company had good performance in the management of its debt collections.
The company's Total Asset Turnover is
calculated as 1.25 times and 1.23 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 Downtrend
Inventory Turnover Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.22 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 79.50 |
|
Thai Baht |
1 |
INR 02.07 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
SDA |
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.