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%20LTD%20%20-%20495466%2007-Mar-2018_files/image017.jpg){kind=small}
%20LTD%20%20-%20495466%2007-Mar-2018_files/image018.jpg)
%20LTD%20%20-%20495466%2007-Mar-2018_files/image020.gif)
MIRA INFORM REPORT
|
Report No. : |
495466 |
|
Report Date : |
07.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
IWATANI
CORPORATION (THAILAND) LTD. |
|
|
|
|
Formerly Known As : |
IWATANI INTERNATIONAL CORPORATION (THAILAND)
LTD.] |
|
|
|
|
Registered Office : |
Room 2903, 29th
Floor, United Center Building, 323 Silom Road, Silom, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
25.01.1990 |
|
|
|
|
Com. Reg. No.: |
0105533010563
[Former: 1054/2533] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is
engaged in international trading
business by importing,
distributing and exporting
wide range of
products |
|
|
|
|
No. of Employees : |
45 |
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
IWATANI CORPORATION (THAILAND) LTD.
[FORMER: IWATANI INTERNATIONAL CORPORATION (THAILAND)
LTD.]
SUMMARY
BUSINESS ADDRESS : ROOM
2903, 29TH
FLOOR, UNITED CENTER
BUILDING, 323 SILOM ROAD, SILOM, BANGRAK, BANGKOK 10500, THAILAND
TELEPHONE : [66] 2231-1764 -8
FAX : [66] 2231-1769
E-MAIL ADDRESS : info@iwatani.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1990
REGISTRATION NO. : 0105533010563 [Former: 1054/2533]
TAX ID NO. : 3101788396
CAPITAL REGISTERED : BHT.
300,000,000
CAPITAL PAID-UP : BHT.
300,000,000
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
HIROYUKI KURAMOTO, JAPANESE
MANAGING DIRECTOR
NO. OF STAFF : 45
LINES OF BUSINESS : INTERNATIONAL TRADING
BUSINESS
IMPORTER, DISTRIBUTOR
AND EXPORTER
|
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 January
25, 1990 as
a private limited
company under the
registered name IWATANI
INTERNATIONAL CORPORATION
(THAILAND) LTD., initially
by a joint investment
between Thai and Japanese groups,
in order to engage in
international trading business
a wide range
of households and industrial
products.
On September 4, 2008
the subject’s name
was changed to
IWATANI CORPORATION (THAILAND)
LTD. It currently
employs 45 staff.
Presently, the subject
is a subsidiary
of Iwatani Corporation
which is holding
around
99.86% of subject’s
total shares.
The subject’s registered
address is Room
2903, 29th Floor,
United Center Building,
323 Silom Rd., Silom,
Bangrak, Bangkok 10500, and
this is the
subject’s current operation address.
THE BOARD OF
DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Hiroyuki Kuramoto |
|
Japanese |
56 |
|
Mr. Hiroshi Kimura |
|
Japanese |
56 |
|
Mr. Kenji Motoori |
|
Japanese |
53 |
|
Mr. Masayoshi Masuda |
|
Japanese |
59 |
|
Mr. Hisato Ueha |
|
Japanese |
66 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Hiroyuki Kuramoto is
the Managing Director.
He is Japanese
nationality with the
age of 56
years old.
Mr. Terufumi Masuda is
the General Manager.
He is Japanese
nationality.
Mr. Masahiko Yasuda is
the Sales Manager
[Industrial Gases and Machinery].
He is Japanese
nationality.
Mr. Zatoshi Nakayama is
the Sales Manager
[Materials / Energy].
He is Japanese
nationality.
Mr. Mazaki Hirakushi is
the Sales Manager
[Agri-Bio / Food].
He is Japanese
nationality.
BUSINESS OPERATIONS
The subject is
engaged in international
trading business by
importing, distributing and
exporting wide range
of products as
follows:
Products
1. Energy : LPG, LNG liquid natural
gas, household fuel
cells and etc.
2. Cooking Equipment : portable
gas cooking stoves,
household electric cooking
appliances
and etc.
3. Industrial Gases : Oxygen, Nitrogen, Argon,
Hydrogen, dry ice, welding
gas and etc.
4. Welding Materials : fusing
materials, welding machines
and etc.
5. Machinery : robots, powder
molding devices, semiconductor, dry
heat sterilizing
machine, rubber
stopper washing, bug
keeper, drum dryer
and etc.
6. Ceramics : PKS(Palm Kernel Shell), phenolic
resins, alumina compound, magnesium
compound, cobalt
compound and etc.
7. Metals : stainless steel,
copper, high alloys,
titanium, special steel and
etc.
8. Chemicals : engineering plastic,
synthetic resins, biodegradable
plastic, films and etc.
9. Electronic Materials : high-performance film materials,
electro-ceramic materials and etc.
10. Food : health-related products,
frozen foods, marine
products, canned products and
etc.
11. Agriculture :
green-related products, fertilizer,
fruit tree plant, gardening equipment,
seeds and
etc.
12. Livestock : Hybrid hogs
for breeding/livestock raising
facilities
PURCHASE
The products are purchased
from suppliers both
domestic and overseas
in Japan, Singapore,
Republic of China, Taiwan, India,
Germany, France, United Kingdom,
Malaysia, Indonesia, Vietnam,
Italy, Spain and
United States of
America.
MAJOR SUPPLIERS
Iwatani Corporation : Japan
Iwatani Industrial Gas
Pte. Ltd. :
Singapore
Guangzhou Iwatani Trading
Co., Ltd. :
Republic of China
Dandong Iwatani Toyo
Gas Meter Co.,
Ltd. : Republic
of China
Iwatani Corporation (M)
Sdn. Bhd. : Malaysia
Iwatani Corporation (Singapore)
Gas Pte. Ltd. : Singapore
SALES
The products are
sold locally to wholesalers
and end-users.
EXPORT [COUNTRIES]
The products are
exported to Japan,
Singapore, Malaysia, Republic
of China, Taiwan,
India, Indonesia, Australia,
Brunei, Vietnam, Myanmar,
Philippines and Cambodia.
PARENT COMPANY
Iwatani Corporation
Address: 4-8 Homashi
3 Chome, Chuo-ku,
Osaka, Japan
ASSOCIATED COMPANIES
Bangkok AI-TOA Co.,
Ltd.
Business Type :
Manufacturer and distributor
of metal coating
products
Iwatani Gas and
Machinery (Thailand) Ltd.
Business Type :
Maintenance service of
industrial machinery
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
T/T.
BANKING
The Siam Commercial
Bank Public Company
Limited
[Head Office :
9 Ratchadapisek Rd.,
Jompol, Jatujak, Bangkok
10900]
Bangkok Bank Public
Company Limited
[Head Office :
333 Silom Rd.,
Silom, Bangrak, Bangkok
10500]
Bank of Tokyo - Mitsubishi UFJ
Ltd.
[Bangkok Branch :
54 North Sathorn
Rd., Silom, Bangrak,
Bangkok 10500]
Sumitomo Mitsui Banking
Corporation
[Bangkok Branch,
1 South Sathorn
Rd., Thungmahamek, Sathorn,
Bangkok]
Kasikornbank Public Company
Limited
EMPLOYMENT
The subject employs
45 staff [office and
sales staff].
LOCATION DETAILS
The premise is
rented for administrative office
on 29th floor
in a multi-storey building at
the heading address.
Premise is located
in a prime
commercial area.
Note
Refer to your given
the subject’s name
“IWATANI GROUP THAILAND”,
please be informed
that the correct
registered name is
“IWATANI CORPORATION
(THAILAND) LTD.”
COMMENT
The subject is the leading
company in trading various kinds
of industrial goods
including raw materials and
finished goods to various industries. The
subject’s operating
performance in 2016
has seen an
improvement with an increase
in both sales
or service income
and net profit
comparing to the
previous year resulted
by an improvement and
recovery of some
industries.
Generally, the subject
is able to maintain
a good business
with sustainable profit.
FINANCIAL INFORMATION
The capital was registered at
Bht. 6,000,000 divided into
6,000 shares of Bht. 1,000
each with fully
paid.
The capital was
increased later as
follows:
Bht. 10,000,000
on September 20,
2004
Bht. 20,000,000
on May 27,
2008
Bht. 300,000,000
on December 21,
2009
The latest registered
capital was increased
to Bht. 300,000,000
divided into 300,000
shares of Bht.
1,000 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 28,
2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Iwatani Corporation Nationality: Japanese Address : 4-8 Homashi
3 Chome, Chuo-ku,
Osaka, Japan |
299,600 |
99.86 |
|
Iwatani Malaysia Sdn. Bhd. Nationality: Malaysian Address : Kuala
Lumpur, Malaysia |
200 |
0.07 |
|
Iwatani Corporation
(Singapore) Pte. Ltd. Nationality: Singaporean Address : 6 Shenton Way #21-09 OUE Downtown 2, Singapore |
200 |
0.07 |
Total Shareholders : 3
Share Structure [as
at April 28, 2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
3 |
300,000 |
100.00 |
|
Total |
3 |
300,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Piya Seriniraj No. 5600
BALANCE SHEET [BAHT]
The 2017 financial
statement has not
yet been submitted
to the Commercial
Registration Department during
investigation.
The latest financial figures published
as at December
31, 2016, 2015
and 2014 were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash Equivalents |
222,723,051 |
201,846,375 |
170,158,001 |
|
Trade Accounts and
Other Receivable |
473,207,906 |
485,254,729 |
408,748,048 |
|
Inventories |
52,166,992 |
59,941,257 |
55,647,226 |
|
Refundable Value Added
Tax |
- |
- |
35,290,516 |
|
Advance Payment for
Inventories |
- |
- |
2,112,204 |
|
Other Current Assets
|
3,928,135 |
4,487,538 |
4,355,971 |
|
|
|
|
|
|
Total Current Assets
|
752,026,084 |
751,529,899 |
676,311,966 |
|
Investment in Associated Company |
3,920,000 |
3,920,000 |
3,920,000 |
|
Investment in Subsidiary Company |
62,968,125 |
62,968,125 |
62,968,125 |
|
Other Long-term Investment |
7,987,125 |
7,987,125 |
7,987,125 |
|
Property, Plant and Equipment |
1,032,450 |
1,438,145 |
3,153,391 |
|
Intangible Assets |
1,174,213 |
1,512,627 |
1,862,427 |
|
Other Non-current Assets |
4,914,609 |
5,182,372 |
4,654,517 |
|
Total Assets |
834,022,606 |
834,538,293 |
760,857,551 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Trade Accounts and
Other Payable |
403,309,134 |
427,205,267 |
387,116,370 |
|
Advance Income from
Goods |
- |
- |
74,009 |
|
Accrued Income Tax |
9,662,659 |
7,442,205 |
9,100,751 |
|
Other Current Liabilities |
356,758 |
1,579,491 |
3,369,980 |
|
|
|
|
|
|
Total Current Liabilities |
413,328,551 |
436,226,963 |
399,661,110 |
|
Employee Benefits Obligation |
6,984,500 |
6,596,800 |
5,805,600 |
|
Total Liabilities |
420,313,051 |
442,823,763 |
405,466,710 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value Authorized and
issued share capital
300,000 shares |
300,000,000 |
300,000,000 |
300,000,000 |
|
|
|
|
|
|
Capital Paid |
202,000,000 |
202,000,000 |
202,000,000 |
|
Retained Earnings: [Deficit] Appropriated for statutory
reserve |
27,781,806 |
23,115,622 |
18,620,802 |
|
Unappropriated |
183,927,749 |
166,598,908 |
134,770,039 |
|
Total Shareholders' Equity |
413,709,555 |
391,714,530 |
355,390,841 |
|
Total Liabilities and
Shareholders' Equity |
834,022,606 |
834,538,293 |
760,857,551 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
2,459,808,142 |
2,374,460,825 |
2,494,384,560 |
|
Gain on Exchange Rate |
- |
- |
187,771 |
|
Other Income |
16,271,102 |
10,518,676 |
15,132,905 |
|
Total Revenues |
2,476,079,244 |
2,384,979,501 |
2,509,705,236 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
2,184,482,045 |
2,097,259,549 |
2,245,211,861 |
|
Selling Expenses |
131,604,256 |
133,786,710 |
120,738,725 |
|
Administrative Expenses |
34,798,464 |
35,608,251 |
32,647,526 |
|
Loss on Exchange Rate |
6,637,100 |
3,349,864 |
- |
|
Total Expenses |
2,357,521,865 |
2,270,004,374 |
2,398,598,112 |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
118,557,379 |
114,975,127 |
111,107,124 |
|
Income Tax |
[21,903,154] |
[21,651,438] |
[21,210,723] |
|
|
|
|
|
|
Net Profit / [Loss] |
96,654,225 |
93,323,689 |
89,896,401 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.82 |
1.72 |
1.69 |
|
QUICK RATIO |
TIMES |
1.68 |
1.58 |
1.45 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2,382.50 |
1,651.06 |
791.02 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.95 |
2.85 |
3.28 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
8.72 |
10.43 |
9.05 |
|
INVENTORY TURNOVER |
TIMES |
41.87 |
34.99 |
40.35 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
70.22 |
74.59 |
59.81 |
|
RECEIVABLES TURNOVER |
TIMES |
5.20 |
4.89 |
6.10 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
67.39 |
74.35 |
62.93 |
|
CASH CONVERSION CYCLE |
DAYS |
11.55 |
10.68 |
5.93 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
88.81 |
88.33 |
90.01 |
|
SELLING & ADMINISTRATION |
% |
6.76 |
7.13 |
6.15 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
11.85 |
12.12 |
10.60 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.82 |
4.84 |
4.45 |
|
NET PROFIT MARGIN |
% |
3.93 |
3.93 |
3.60 |
|
RETURN ON EQUITY |
% |
23.36 |
23.82 |
25.30 |
|
RETURN ON ASSET |
% |
11.59 |
11.18 |
11.82 |
|
EARNING PER SHARE |
BAHT |
478.49 |
462.00 |
445.03 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.50 |
0.53 |
0.53 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.02 |
1.13 |
1.14 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
3.59 |
(4.81) |
|
|
OPERATING PROFIT |
% |
3.12 |
3.48 |
|
|
NET PROFIT |
% |
3.57 |
3.81 |
|
|
FIXED ASSETS |
% |
(28.21) |
(54.39) |
|
|
TOTAL ASSETS |
% |
(0.06) |
9.68 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 3.59%.
Turnover has increased from THB
PROFITABILITY :
EXCELLENT
%20LTD%20%20-%20495466%2007-Mar-2018_files/image022.gif)
PROFITABILITY
RATIO
|
Gross Profit Margin |
11.85 |
Impressive |
Industrial Average |
5.93 |
|
Net Profit Margin |
3.93 |
Impressive |
Industrial Average |
2.90 |
|
Return on Assets |
11.59 |
Impressive |
Industrial Average |
5.99 |
|
Return on Equity |
23.36 |
Impressive |
Industrial Average |
13.54 |
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 11.85%. 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. The company’s figure is 3.93%, 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
11.59%, 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 23.36%, 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 Downtrend
LIQUIDITY :
IMPRESSIVE
%20LTD%20%20-%20495466%2007-Mar-2018_files/image024.gif)
LIQUIDITY RATIO
|
Current Ratio |
1.82 |
Satisfactory |
Industrial Average |
2.00 |
|
Quick Ratio |
1.68 |
|
|
|
|
Cash Conversion Cycle |
11.55 |
|
|
|
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 1.82 times in 2016, increase from 1.72 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was lower.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 1.68 times in 2016,
increase from 1.58 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 12 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
SATISFACTORY
%20LTD%20%20-%20495466%2007-Mar-2018_files/image026.gif)
%20LTD%20%20-%20495466%2007-Mar-2018_files/image028.gif)
LEVERAGE RATIO
|
Debt Ratio |
0.50 |
Impressive |
Industrial Average |
0.53 |
|
Debt to Equity Ratio |
1.02 |
Acceptable |
Industrial Average |
1.14 |
|
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 higher the percentage means that the company is using less
equity and has stronger leverage position.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 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
%20LTD%20%20-%20495466%2007-Mar-2018_files/image030.gif)
ACTIVITY RATIO
|
Fixed Assets Turnover |
2,382.50 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
2.95 |
Impressive |
Industrial Average |
2.06 |
|
Inventory Conversion Period |
8.72 |
|
|
|
|
Inventory Turnover |
41.87 |
Impressive |
Industrial Average |
6.12 |
|
Receivables Conversion Period |
70.22 |
|
|
|
|
Receivables Turnover |
5.20 |
Impressive |
Industrial Average |
4.15 |
|
Payables Conversion Period |
67.39 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.20 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 10 days at the
end of 2015 to 9 days at the end of 2016. This represents a positive trend. And
Inventory turnover has increased from 34.99 times in year 2015 to 41.87 times
in year 2016.
The company's Total Asset Turnover is calculated as 2.95 times and 2.85
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 Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.99 |
|
|
1 |
INR 89.91 |
|
Euro |
1 |
INR 80.21 |
|
Thai Baht |
1 |
INR 2.07 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.