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MIRA INFORM REPORT
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Report No. : |
497667 |
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Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
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Name : |
SATAKE ASIA CO., LTD. |
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Formerly Known As : |
SATAKE INTERNATIONAL BANGKOK
COMPANY LIMITED |
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Registered Office : |
8th Floor, Mahatun Plaza Building, 888/84 Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
02.12.2005 |
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Com. Reg. No.: |
0135548011234 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
·
The
subject’s core business
is engaged in
importing and distributing power
system equipments such
as Bio-mass Power Generator
and equipments for
energy production, composting
plants and biomass
power generation plants,
as well as
after sale services.
·
Subject is
also an exporter
of rice processing
machine and flour milling machine
such as rice
polishing machine, rice
milling machine, paddy
separator, milling separator,
sifter machine, rice
whitener machine and
spare parts. |
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No. of Employees : |
40 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
|
Thailand |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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
SATAKE ASIA
CO., LTD.
[FORMER : SATAKE INTERNATIONAL
BANGKOK COMPANY LIMITED]
SUMMARY
BUSINESS
ADDRESS : 8th FLOOR,
MAHATUN PLAZA BUILDING,
888/84 PLOENCHIT
ROAD, LUMPINI,
PATHUMWAN, BANGKOK
10330, THAILAND
TELEPHONE : [66] 2651-5845-7, 2651-5860-2
FAX :
[66] 2651-5848
E-MAIL
ADDRESS : ning_aimorn@satake-bangkok.com
aun_narumol@satake-bangkok.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2005
REGISTRATION
NO. : 0135548011234
TAX
ID NO. : 3032227667
CAPITAL REGISTERED : BHT. 100,000,000
CAPITAL PAID-UP : BHT. 29,500,000
SHAREHOLDER’S PROPORTION : JAPANESE :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SHOICHI TANAKA, JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 40
LINES
OF BUSINESS : ENERGY GENERATING SYSTEMS
IMPORTER, EXPORTER,
DISTRIBUTOR AND
SERVICE
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 December 2,
2005 as a
private limited company
under the originally registered
name SATAKE INTERNATIONAL BANGKOK COMPANY LIMITED by Japanese
groups. On September
1, 2016, its
registered name was
changed to SATAKE
ASIA CO., LTD.
Its business objective
is to supply
products and services
for natural power plant and related
business to both domestic
and overseas markets.
It currently employs
approximately 40 staff.
Subject
is a wholly owned
subsidiary of Satake
Corporation, Japan, which
is the principle company
of Satake Group
in Asia region,
and also has
subsidiaries in many
countries including India,
Indonesia, Bangladesh, Myanmar,
and Republic of
China. Its business
is to supply and
service a wide
range of product groups which
can be divided
into 5 categories: rice
group, flour group, food
group, environmental system
group and industrial
machinery group.
The subject’s registered address was 15th
Floor, Mahatun Plaza, 888/152 Ploenchit Rd., Lumpini, Pathumwan, Bangkok 10330.
On
March 2, 2009,
it was relocated
to 8th Floor,
Mahatun Plaza Building,
888/84 Ploenchit Rd.,
Lumpini, Pathumwan, Bangkok
10330, and this
is the subject’s
current
operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Kazuyuki Kihara |
|
Japanese |
59 |
|
Mr. Shoichi Tanaka |
[x] |
Japanese |
58 |
|
Mr. Kazuhiko Taneki |
[x] |
Japanese |
62 |
|
Mr. Yoshiyuki Katsura |
[x] |
Japanese |
- |
AUTHORIZED
PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Shoichi Tanaka is
the Managing Director.
He is Japanese
nationality with the
age of 58
years old.
Mr. Kazuhiko Taneki is
the Executive Director.
He is Japanese
nationality with the
age of 62
years old.
BUSINESS
OPERATIONS
The subject’s core
business is engaged
in importing and
distributing power system
equipments such as Bio-mass
Power Generator and
equipments for energy
production, composting plants
and biomass power
generation plants, as
well as after
sale services.
Subject is also an
exporter of rice
processing machine and flour milling
machine such as
rice polishing machine,
rice milling machine,
paddy separator, milling
separator, sifter machine,
rice whitener machine
and spare parts.
MAJOR BRAND
“SATAKE”
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas, mainly in
Japan, Germany, Sweden
and Republic of
China.
MAJOR SUPPLIERS
Satake [Thailand] Co.,
Ltd. : Thailand
Satake Corporation : Japan
Satake Manufacturing [Suzhou]
Co., Ltd. : Republic of
China
SALES [LOCAL]
The products are sold and
serviced locally to
manufacturers, end-users and government
sectors.
EXPORT [COUNTRIES]
Rice
processing machine [rice polishing,
rice milling, paddy
separator] is exported
to India, Pakistan, Bangladesh,
Philippines, Republic of China,
Taiwan, Malaysia, Vietnam, Myanmar, Laos,
Indonesia, Cambodia, Russia
and Sri Lanka.
MAJOR
CUSTOMER
Brukfield
Rice Pakistan Pvt.
Ltd. : Pakistan
RELATED
AND AFFILIATED COMPANY
Satake [Thailand] Co.,
Ltd.
Business Type :
Manufacturer and distributor of
rice processing machine
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
Sumitomo Mitsui Banking
Corporation [Bangkok Branch]
Bank of Tokyo-Mitsubishi UFJ
Ltd. [Bangkok Branch]
Bangkok Bank Public
Company Limited
EMPLOYMENT
The
subject employs approximately
40 staff.
LOCATION
DETAILS
The premise
is rented for
administrative office at
the heading address. Premise is
located in a
prime commercial area.
COMMENT
The subject
was formed in 2005 in order to
distribute products and equipments for producing
energy from biomass resources.
Besides Bio-mass Power Generation,
subject also exports rice
milling related equipments to major rice grower countries in
Asia.
Slow expansion and
new investment in 2016
had resulted to
a decrease in
sales revenue and
net profit. Nevertheless, the
subject is able
to maintain a
strong business.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 6,000,000
divided into 60,000
shares of Bht. 100 each.
On
March 20, 2008,
the capital was
increased to Bht. 52,000,000 divided
into 520,000 shares of
Bht. 100 each.
On
March 2, 2009, the capital
was increased to Bht. 100,000,000 divided into
1,000,000 shares of Bht. 100 each, with a
current capital paid-up
at Bht. 29,500,000
or 940,000 shares of
Bht. 25 each
and 60,000 shares
of Bht. 100
each.
THE SHAREHOLDERS
LISTED WERE
[as
at April 19,
2017] at
Bht.
29,500,000 of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
Satake Corporation Nationality: Japanese Address : 7-2
Sotokanda, 4-Chome,
Chiyoda-ku, Tokyo, Japan |
999,986 |
100.00 |
|
Mrs. Toshiko Satake Nationality: Japanese Address : 3-31-14
Sannou, Ota-ku, Tokyo,
Japan |
10 |
- |
|
Mr. Takeshi Fukumori Nationality: Japanese Address : 4-28-9
Nakano, Arki-ku, Hiroshima, Japan |
1 |
- |
|
Mr. Kazuyuki Kihara Nationality: Japanese Address : 4-14-801
Sumiyoshi-cho, Naka-ku,
Hiroshima, Japan |
1 |
- |
|
Mr. Kazuhiko Taneki Nationality: Japanese Address : 888/84
Ploenchit Rd., Lumpini,
Pathumwan, Bangkok |
1 |
- |
|
Mr. Shoichi Tanaka Nationality: Japanese Address : 888/84
Ploenchit Rd., Lumpini,
Pathumwan, Bangkok |
1 |
- |
Total Shareholders : 6
SHARE STRUCTURE [AS
AT APRIL 19,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - Japanese |
6 |
1,000,000 |
100.00 |
|
Total |
6 |
1,000,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Ms. Kanda Kanchanavasutha No. 7812
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 Equivalent |
140,377,369.35 |
57,059,307.38 |
78,431,158.95 |
|
Trade Accounts and
Other Receivable |
879,607,828.59 |
949,372,120.16 |
802,513,578.75 |
|
Inventories |
45,928,630.00 |
66,555,451.88 |
68,507,260.00 |
|
Other Current Assets
|
6,540,202.19 |
7,862,096.15 |
16,740,603.41 |
|
Total Current Assets
|
1,072,454,030.13 |
1,080,848,975.57 |
963,192,601.11 |
|
Investment in
Joint-Venture |
24,896,200.00 |
25,080,650.00 |
22,968,960.00 |
|
Property, Plant and Equipment
|
1,843,458.86 |
3,162,038.68 |
4,298,559.86 |
|
Other Non-current Assets |
1,183,047.03 |
1,194,811.74 |
1,170,776.45 |
|
Total Assets |
1,100,376,736.02 |
1,110,286,475.99 |
991,630,897.42 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Trade Accounts and
Other Payable |
158,160,667.30 |
175,180,647.38 |
174,857,789.61 |
|
Short-term Loans |
68,500.00 |
384,050.00 |
50,818,520.00 |
|
Accrued Income Tax |
31,015,661.28 |
47,305,487.42 |
23,256,747.35 |
|
Other Current Liabilities |
3,050.28 |
2,969.78 |
3,281,530.00 |
|
Total Current Liabilities |
189,247,878.86 |
222,873,154.58 |
252,214,586.96 |
|
|
|
|
|
|
Long-term Loans |
- |
68,500.00 |
452,550.00 |
|
Provision for Employee Benefits |
11,533,850.20 |
10,160,621.15 |
9,137,602.00 |
|
Total Liabilities |
200,781,729.06 |
233,102,275.73 |
261,804,738.96 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized and issued
share capital 1,000,000 shares |
100,000,000.00 |
100,000,000.00 |
100,000,000.00 |
|
Capital Paid |
29,500,000.00 |
29,500,000.00 |
29,500,000.00 |
|
Retained Earning: [Deficit] |
|
|
|
|
Appropriated statutory reserve |
10,000,000.00 |
10,000,000.00 |
6,708,105.37 |
|
Unappropriated |
860,095,006.96 |
837,684,200.26 |
693,618,053.09 |
|
Total Shareholders' Equity |
899,595,006.96 |
877,184,200.26 |
729,826,158.46 |
|
Total Liabilities & Shareholders' Equity |
1,100,376,736.02 |
1,110,286,475.99 |
991,630,897.42 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
918,735,169.36 |
953,381,766.55 |
1,206,973,301.08 |
|
Other Income |
4,914,343.12 |
103,437,798.65 |
12,105,076.41 |
|
Total Revenues |
923,649,512.48 |
1,056,819,562.20 |
1,219,078,377.49 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
560,729,476.53 |
575,619,634.69 |
772,643,757.46 |
|
Selling Expenses |
117,832,153.12 |
126,162,838.31 |
150,972,311.97 |
|
Administrative Expenses |
57,542,426.28 |
58,283,202.40 |
69,725,845.54 |
|
Total Expenses |
736,104,055.93 |
760,065,675.40 |
993,341,914.97 |
|
Profit /[Loss] before Financial
Costs & Income
Tax |
187,545,456.55 |
296,753,889.80 |
225,736,462.52 |
|
Financial Costs |
[11,998,968.36] |
[10,702,908.99] |
[14,045,900.60] |
|
Profit /[Loss] before Income
Tax |
175,546,488.19 |
286,050,980.81 |
211,690,561.92 |
|
Income Tax |
[35,725,681.49] |
[57,862,939.01] |
[43,394,103.42] |
|
Net Profit / [Loss] |
139,820,806.70 |
228,188,041.80 |
168,296,458.50 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
5.67 |
4.85 |
3.82 |
|
QUICK RATIO |
TIMES |
5.39 |
4.52 |
3.48 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
498.38 |
301.51 |
280.79 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.83 |
0.86 |
1.22 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
29.90 |
42.20 |
32.36 |
|
INVENTORY TURNOVER |
TIMES |
12.21 |
8.65 |
11.28 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
349.46 |
363.46 |
242.69 |
|
RECEIVABLES TURNOVER |
TIMES |
1.04 |
1.00 |
1.50 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
102.95 |
111.08 |
82.60 |
|
CASH CONVERSION CYCLE |
DAYS |
276.40 |
294.59 |
192.45 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
61.03 |
60.38 |
64.01 |
|
SELLING & ADMINISTRATION |
% |
19.09 |
19.35 |
18.29 |
|
INTEREST |
% |
1.31 |
1.12 |
1.16 |
|
GROSS PROFIT MARGIN |
% |
39.50 |
50.47 |
36.99 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
20.41 |
31.13 |
18.70 |
|
NET PROFIT MARGIN |
% |
15.22 |
23.93 |
13.94 |
|
RETURN ON EQUITY |
% |
15.54 |
26.01 |
23.06 |
|
RETURN ON ASSET |
% |
12.71 |
20.55 |
16.97 |
|
EARNING PER SHARE |
BAHT |
473.97 |
773.52 |
570.50 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.18 |
0.21 |
0.26 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.22 |
0.27 |
0.36 |
|
TIME INTEREST EARNED |
TIMES |
15.63 |
27.73 |
16.07 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(3.63) |
(21.01) |
|
|
OPERATING PROFIT |
% |
(36.80) |
31.46 |
|
|
NET PROFIT |
% |
(38.73) |
35.59 |
|
|
FIXED ASSETS |
% |
(41.70) |
(26.44) |
|
|
TOTAL ASSETS |
% |
(0.89) |
11.97 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -3.63%.
Turnover has decreased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
39.50 |
Impressive |
Industrial Average |
19.79 |
|
Net Profit Margin |
15.22 |
Impressive |
Industrial Average |
3.96 |
|
Return on Assets |
12.71 |
Impressive |
Industrial Average |
11.32 |
|
Return on Equity |
15.54 |
Satisfactory |
Industrial Average |
30.71 |
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 39.5%. 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 15.22%,
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 12.71%, higher figure when compared
with those of its average competitors in the same industry, indicated that
business was an efficient profit in a
dominant position within its industry.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. When compared with the
industry average, it was lower, the company's figure is 15.54%.
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 |
5.67 |
Impressive |
Industrial Average |
1.39 |
|
Quick Ratio |
5.39 |
|
|
|
|
Cash Conversion Cycle |
276.40 |
|
|
|
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 5.67 times in 2016, increase from 4.85 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 5.39 times in 2016,
increase from 4.52 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 277 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.18 |
Impressive |
Industrial Average |
0.64 |
|
Debt to Equity Ratio |
0.22 |
Impressive |
Industrial Average |
1.78 |
|
Times Interest Earned |
15.63 |
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 15.64 higher than 1, so the company can pay interest
expenses on outstanding debt.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.18 less than 0.5, most of the company's
assets are financed through equity.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
498.38 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.83 |
Acceptable |
Industrial Average |
2.86 |
|
Inventory Conversion Period |
29.90 |
|
|
|
|
Inventory Turnover |
12.21 |
Impressive |
Industrial Average |
6.52 |
|
Receivables Conversion Period |
349.46 |
|
|
|
|
Receivables Turnover |
1.04 |
Deteriorated |
Industrial Average |
9.38 |
|
Payables Conversion Period |
102.95 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.04 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 42 days at the
end of 2015 to 30 days at the end of 2016. This represents a positive trend.
And Inventory turnover has increased from 8.65 times in year 2015 to 12.21
times in year 2016.
The company's Total Asset Turnover is calculated as 0.83 times and 0.86
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 65.02 |
|
|
1 |
INR 90.12 |
|
Euro |
1 |
INR 80.09 |
|
THB |
1 |
INR 2.08 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
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.