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MIRA INFORM REPORT
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Report No. : |
498345 |
|
Report Date : |
16.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
THAI PEROXIDE CO., LTD. |
|
|
|
|
Registered Office : |
16th Floor, Mahathun
Plaza Building, 888/160-161 Ploenchit
Road, Lumpini, Pathumwan, Bangkok 10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
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|
|
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Date of Incorporation : |
13.11.1985 |
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|
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Com. Reg. No.: |
0105528039605 |
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|
|
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Legal Form : |
Private Limited Company |
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|
Line of Business : |
The subject’s activity is a
manufacturer 35% and 50% of
Hydrogen Peroxide [H2O2] concentrate
solution for oxidizing
and bleaching used in textile,
mining, pulp &
paper, leather-hide, electronics,
aquaculture, detergent & bleaches, chemicals, cosmetics & environment industries, as well as Calcium
Peroxide [CaO2] used in
aquaculture, agricultural, detergent,
bleaching, cosmetics, dental, bakery, environmental industries
and etc. |
|
|
|
|
No. of Employees : |
205 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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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 |
|
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
THAI PEROXIDE CO., LTD.
SUMMARY
BUSINESS ADDRESS : 16TH FLOOR,
MAHATHUN PLAZA BUILDING,
888/160-161
PLOENCHIT ROAD, LUMPINI,
PATHUMWAN,
BANGKOK 10330, THAILAND
TELEPHONE : [66] 2253-6745-54, 2253-6758,
2254-3719
FAX : [66] 2253-1534,
2254-9030-1, 2254-3607
E-MAIL ADDRESS : sales@thaiperoxide.com
tplplant@thaiperoxide.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1985
REGISTRATION NO. : 0105528039605 [Former: 3958/2528]
TAX ID NO. : 3101390742
CAPITAL REGISTERED : BHT.
130,000,000
CAPITAL PAID-UP : BHT.
130,000,000
SHAREHOLDER’S PROPORTION : THAI
: 34.00%
FOREIGN :
66.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. AMBRISH KUMAR MAHESHWARI, INDIAN
CHIEF EXECUTIVE OFFICER
NO. OF STAFF : 205
LINES OF BUSINESS : HYDROGEN PEROXIDE AND RELATED PRODUCTS
MANUFACTURER,
DISTRIBUTOR & 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 November
13, 1985 as
a private limited
company under the registered name
THAI PEROXIDE CO., LTD., by
Thai and foreign
groups, with the
business objective to manufacture and distribute 35% and 50% hydrogen
peroxide concentrate, used
in various environmental
application, where the
production facility is
located in Saraburi
province. It currently
employs 205 staff.
Presently, the major shareholders
are Peroxychem Netherlands Holdings B.V., Netherlands, Thai Polyphosphate &
Chemicals Co., Ltd., Thailand and
Hallock International Ltd.,
Liberia, which are holding around
50%, 28.97% and 16% of
the subject’s shares
respectively.
AWARDS
The international standard
ISO 9001 and OHSAS
18001 certification, production
quality management, by
Bureau Veritas (Thailand) Ltd. 1994-1995
ISO 14001 certification, environmental
quality management by
MASCI, in 2001 and
upgrading to ISO
9002 : 2000 certification, by
MASCI in August
2002.
The subject’s registered
address is 16th Floor,
Mahathun Plaza Building,
888/160-161 Ploenchit Rd.,
Lumpini, Pathumwan, Bangkok 10330,
and this is
the subject’s current
operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Shyam Sundar Mahansaria |
|
Indian |
83 |
|
Mr. Kumar Mangalam Birla |
|
Indian |
52 |
|
Mrs. Rajashree Birla |
|
Indian |
73 |
|
Mrs. Stephanie Gayle Montac |
|
American |
39 |
|
Mr. Bruce Andrew Lerner |
|
American |
52 |
|
Mr. Thomas Francis Ball |
|
American |
56 |
|
Mr. Ambrish Kumar Maheshwari |
|
Indian |
61 |
|
Mr. Mark James Valentino
|
|
American |
46 |
|
Mr. Debnarayan Bhattacharya |
|
Indian |
69 |
|
Mr. Pete P. Zografakis |
|
American |
42 |
AUTHORIZED
PERSON
Any two of the
above directors can
jointly sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Ambrish Kumar Maheshwari
is the Chief
Executive Officer.
He is Indian
nationality with the
age of 61
years old.
Mr. Ajay Sirinivasan is
the Chief Financial
Officer.
He is Indian
nationality.
Mr. Anupan Gupta is
the Senior Executive
Vice President/Operation Manager.
He is Indian
nationality.
BUSINESS
OPERATIONS
The subject’s activity is a
manufacturer 35% and 50% of
Hydrogen Peroxide [H2O2] concentrate
solution for oxidizing
and bleaching used in textile,
mining, pulp &
paper, leather-hide, electronics,
aquaculture, detergent & bleaches, chemicals, cosmetics & environment industries, as well as Calcium
Peroxide [CaO2] used in
aquaculture, agricultural, detergent,
bleaching, cosmetics, dental, bakery, environmental industries
and etc.
The production technology
has been supported
by FMC Corporation,
U.S.A.
MAJOR BRANDS
“TPL”, “ECARE” &
“ENCARE”
PRODUCTION CAPACITY
19,000 metric tons
per annum
PURCHASE
80% of raw
material mainly base
chemical is imported
from Singapore, Japan, India,
Republic of China,
Germany and Taiwan,
the remaining 20%
is purchased from
local suppliers and
agents.
MAJOR SUPPLIERS
PTT Public Company
Limited : Thailand
Thai-MC Company Limited : Thailand
Thai Polyphosphate &
Chemicals Co., Ltd. : Thailand
SALES [LOCAL]
80% of the products
is sold locally
to manufacturers, dealers
and end-users.
EXPORT [COUNTRY]
20% of the
products is exported to United States of America, Singapore,
Malaysia, Vietnam, Japan, Republic
of China, India,
Indonesia, Philippines, Pakistan,
Myanmar, Bangladesh, Taiwan
and Korea.
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
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
T/T.
Exports are against
T/T.
BANKING
Kasikornbank Public Company
Limited
[Phaholyothin Branch : 400
Phaholyothin Rd., Samsennai,
Phyathai, Bangkok 10400]
The Siam Commercial
Bank Public Company
Limited
[Head Office : 9 Ratchadapisek Rd.,
Ladyao, Jatujak, Bangkok
10900]
Bank of Ayudhya
Public Company Limited
[Ploenchit Branch :
Ploenchit Rd., Lumpini,
Pathumwan, Bangkok 10330]
Bangkok Bank Public
Company Limited
[Head Office :
333 Silom Rd.,
Silom, Bangrak, Bangkok
10500]
EMPLOYMENT
The subject employs
205 staff, comprising
85 permanent staff and
120 temporary workers.
LOCATION
DETAILS
The premise is
rented for administrative office at
the heading address. Premise is
located in a
prime commercial area.
Factory and warehouse
are located at
70 Moo 4,
Sudbanthad Rd., T.
Taldiew,
A. Kaengkoy, Saraburi
18110. Tel: [66]
36 260-210, Fax [66]
36 260-211
COMMENT
Thai Peroxide is
the pioneer producer
of Hydrogen Peroxide
in Thailand, using the
same technology from
FMC, the 4th largest
producer in the
world.
Its products have
been used as
a raw material in
various applications from
foods to industrial
goods productions. Subject is a
leading supplier earning
creditability and comprehensive
network in the
Thai industry. Generally,
its business remains
solid and growing
considerably.
FINANCIAL
INFORMATION
The capital was
originally registered at
Bht. 100,000 divided into
100 shares of
Bht. 1,000 each.
On August 18, 1987, the capital
was increased to Bht.
130,000,000 divided into 130,000
shares of Bht.
1,000 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 29,
2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Peroxychem Netherlands Holdings
B.V. Nationality: Dutch Address : Herengracht
466, 1017 CA, Amsterdam, Amsterdam, Netherlands |
65,000 |
50.00 |
|
Thai Polyphosphate &
Chemicals Co., Ltd. Nationality: Thai Address : 888/162-163
Ploenchit Road,
Lumpini, Pathumwan, Bangkok
|
37,660 |
28.97 |
|
Hallock International Ltd.
Nationality: Liberian Address : 80
Broad Street, Mondrovia,
Liberia |
20,800 |
16.00 |
|
Thai Rayon Public
Company Limited Nationality: Thai Address : 888/160-161 Ploenchit Road,
Lumpini, Pathumwan,
Bangkok 10330 |
6,520 |
5.02 |
|
Thai Industrial Management
& Trading Co., Ltd. Nationality: Thai Address : 77
Moo 6, Soi
Sukhapiban 1,
Poochaosamingprai Road, T. Samrong,
A. Phrapradaeng, Samutprakarn |
10 |
= 0.01 |
|
Rama Trading Co.,
Ltd. Nationality: Thai Address : 77
Moo 6, Soi
Sukhapiban 1,
Poochaosamingprai Road, T. Samrong,
A.
Phrapradaeng, Samutprakarn |
10 |
|
Total Shareholders : 6
Share Structure [as
at April 29,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
44,200 |
34.00 |
|
Foreign |
2 |
85,800 |
66.00 |
|
Total |
6 |
130,000 |
100.00 |
NAME
OF AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Ms. Krongkaew Limkittikul No.
5874
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 |
11,164,613 |
12,887,433 |
3,793,434 |
|
Short-term Investment |
89,500,000 |
- |
- |
|
Trade Accounts and Other
Receivable |
106,859,331 |
115,378,874 |
115,952,082 |
|
Short-term Loan |
- |
15,000,000 |
- |
|
Inventories |
83,420,411 |
75,178,176 |
80,519,107 |
|
Other Current Assets
|
6,378,144 |
5,313,721 |
8,492,097 |
|
|
|
|
|
|
Total Current Assets
|
297,322,499 |
223,758,204 |
208,756,720 |
|
|
|
|
|
|
Property, Plant and Equipments |
454,735,945 |
442,340,467 |
462,267,691 |
|
Intangible Assets |
19,271,407 |
21,083,071 |
22,894,738 |
|
Other Non-current Assets |
236,540 |
235,540 |
404,202 |
|
Total Assets |
771,566,391 |
687,417,282 |
694,323,351 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and Short-term-Loan from Financial Institutions |
1,699,791 |
1,588,107 |
- |
|
Trade Accounts and
Other Payable |
74,741,254 |
95,608,684 |
85,597,763 |
|
Short-term Loan from Related Company |
- |
- |
106,821,159 |
|
Accrued Income Tax |
13,804,275 |
11,147,006 |
3,191,969 |
|
Other Current Liabilities |
347,544 |
130,290 |
2,244,637 |
|
|
|
|
|
|
Total Current Liabilities |
90,592,864 |
108,474,087 |
197,855,528 |
|
|
|
|
|
|
Provision for Employee
Benefits |
13,597,474 |
12,465,772 |
13,333,454 |
|
Total Liabilities |
104,190,338 |
120,939,859 |
211,188,982 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 130,000 shares |
130,000,000 |
130,000,000 |
130,000,000 |
|
|
|
|
|
|
Capital Paid |
130,000,000 |
130,000,000 |
130,000,000 |
|
Retained Earning : [Deficit] Appropriated for
statutory reserve |
10,757,166 |
6,589,514 |
6,589,514 |
|
Unappropriated |
526,618,887 |
429,887,909 |
346,544,855 |
|
Total Shareholders' Equity |
667,376,053 |
566,477,423 |
483,134,369 |
|
Total Liabilities and
Shareholders' Equity |
771,566,391 |
687,417,282 |
694,323,351 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income
|
742,974,712 |
706,618,351 |
736,709,956 |
|
Other Income |
5,157,840 |
2,786,445 |
6,532,009 |
|
Total Revenues |
748,132,552 |
709,404,796 |
743,241,965 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Change in Finished
Goods and Work in
Progress |
436,827,857 |
- |
- |
|
Employees Expenses |
37,533,512 |
- |
- |
|
Other Expenses |
100,110,595 |
- |
- |
|
Cost of Goods
Sold or Services |
- |
467,471,356 |
556,151,647 |
|
Selling Expenses |
- |
97,685,743 |
115,494,358 |
|
Administrative Expenses |
- |
36,673,086 |
36,020,513 |
|
Total Expenses |
574,471,964 |
601,830,185 |
707,666,518 |
|
|
|
|
|
|
Profit /[Loss] before Financial
Cost and Income Tax |
173,660,588 |
107,574,611 |
35,575,447 |
|
Financial Expenses |
[53,790] |
[1,084,527] |
[2,797,642] |
|
Profit /[Loss] before Income Tax
|
173,606,798 |
106,490,084 |
32,777,805 |
|
Income Tax Expenses |
[33,812,168] |
[23,147,030] |
[7,391,994] |
|
|
|
|
|
|
Net Profit / [Loss] |
139,794,630 |
83,343,054 |
25,385,811 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.28 |
2.06 |
1.06 |
|
QUICK RATIO |
TIMES |
2.29 |
1.32 |
0.61 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.63 |
1.60 |
1.59 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.96 |
1.03 |
1.06 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
69.70 |
58.70 |
52.84 |
|
INVENTORY TURNOVER |
TIMES |
5.24 |
6.22 |
6.91 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
52.50 |
59.60 |
57.45 |
|
RECEIVABLES TURNOVER |
TIMES |
6.95 |
6.12 |
6.35 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
62.45 |
74.65 |
56.18 |
|
CASH CONVERSION CYCLE |
DAYS |
59.75 |
43.65 |
54.11 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
58.79 |
66.16 |
75.49 |
|
SELLING & ADMINISTRATION |
% |
5.05 |
19.01 |
20.57 |
|
INTEREST |
% |
0.01 |
0.15 |
0.38 |
|
GROSS PROFIT MARGIN |
% |
41.90 |
34.24 |
25.40 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
23.37 |
15.22 |
4.83 |
|
NET PROFIT MARGIN |
% |
18.82 |
11.79 |
3.45 |
|
RETURN ON EQUITY |
% |
20.95 |
14.71 |
5.25 |
|
RETURN ON ASSET |
% |
18.12 |
12.12 |
3.66 |
|
EARNING PER SHARE |
BAHT |
1,075.34 |
641.10 |
195.28 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.14 |
0.18 |
0.30 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.16 |
0.21 |
0.44 |
|
TIME INTEREST EARNED |
TIMES |
3,228.49 |
99.19 |
12.72 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
5.15 |
(4.08) |
|
|
OPERATING PROFIT |
% |
61.43 |
202.38 |
|
|
NET PROFIT |
% |
67.73 |
228.31 |
|
|
FIXED ASSETS |
% |
2.80 |
(4.31) |
|
|
TOTAL ASSETS |
% |
12.24 |
(0.99) |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 5.15%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
41.90 |
Impressive |
Industrial Average |
36.87 |
|
Net Profit Margin |
18.82 |
Impressive |
Industrial Average |
17.94 |
|
Return on Assets |
18.12 |
Impressive |
Industrial Average |
10.46 |
|
Return on Equity |
20.95 |
Impressive |
Industrial Average |
13.61 |
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 41.9%. 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 18.82%,
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 18.12%, 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 20.95%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit in a dominant position within its industry.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
3.28 |
Impressive |
Industrial Average |
2.87 |
|
Quick Ratio |
2.29 |
|
|
|
|
Cash Conversion Cycle |
59.75 |
|
|
|
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 3.28 times in 2016, increase from 2.06 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 2.29 times in 2016,
increase from 1.32 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 60 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.14 |
Impressive |
Industrial Average |
0.16 |
|
Debt to Equity Ratio |
0.16 |
Impressive |
Industrial Average |
0.20 |
|
Times Interest Earned |
3,228.49 |
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 3228.5 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 0.14 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 |
1.63 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.96 |
Impressive |
Industrial Average |
0.54 |
|
Inventory Conversion Period |
69.70 |
|
|
|
|
Inventory Turnover |
5.24 |
Satisfactory |
Industrial Average |
8.52 |
|
Receivables Conversion Period |
52.50 |
|
|
|
|
Receivables Turnover |
6.95 |
Impressive |
Industrial Average |
4.55 |
|
Payables Conversion Period |
62.45 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.95 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 59 days at the end of 2015 to 70
days at the end of 2016. This represents a negative trend. And Inventory
turnover has decreased from 6.22 times in year 2015 to 5.24 times in year 2016.
The company's Total Asset Turnover is calculated as 0.96 times and 1.03
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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.94 |
|
|
1 |
INR 90.73 |
|
Euro |
1 |
INR 80.32 |
|
Thai Baht |
1 |
INR 2.08 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.