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|
|
MIRA INFORM REPORT
|
Report No. : |
499096 |
|
Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
A.T.E. MASKATI LTD. |
|
|
|
|
Registered Office : |
98 Moo 2, T. Bangtoey, A. Sampran, Nakhon
Pathom 73210 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
30.11.2016 |
|
|
|
|
Date of Incorporation : |
07.02.1949 |
|
|
|
|
Com. Reg. No.: |
0105492000241 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer,
Distributor and Exporter of Agricultural
and Industrial Products. |
|
|
|
|
No. of Employees : |
21 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
A.T.E. MASKATI
LTD.
SUMMARY
BUSINESS
ADDRESS : 98
MOO 2, T. BANGTOEY,
A. SAMPRAN,
NAKHON PATHOM
73210, THAILAND
TELEPHONE : [66] 2482-1111
FAX :
[66] 2482-1109,
2482-1110
E-MAIL
ADDRESS : info@atems.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1949
REGISTRATION
NO. : 0105492000241
TAX
ID NO. : 3101093568
CAPITAL REGISTERED : BHT. 2,400,500
CAPITAL PAID-UP : BHT.
2,400,500
SHAREHOLDER’S PROPORTION : THAI :
51.91%
INDIAN
: 48.09%
FISCAL YEAR CLOSING DATE : NOVEMBER 30
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. ATEEB RASHEED
MASKATI, INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 21
LINES
OF BUSINESS : AGRICULTURAL AND INDUSTRIAL PRODUCTS
IMPORTER, DISTRIBUTOR AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on February 7, 1949 as
a private limited
company under the
registered name A.T.E.
MASKATI LTD., by Thai
and Indian groups,
with the business
objective to import
and distribute industrial
products to local
market as well as
to export Thai
agricultural products to
overseas markets. It
currently employs 21
staff.
The
subject’s registered address
is 98 Moo
2, T. Bangtoey, A. Sampran,
Nakhon Pathom 73210, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Ateeb Rasheed Maskati |
|
Indian |
57 |
|
Mrs. Zilika Maskati |
|
Thai |
49 |
|
Mr. Nanda Dulal Basu |
|
Indian |
75 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Ateeb Rasheed
Maskati is the
Managing Director.
He is Indian
nationality with the
age of 57
years old.
Mrs. Zilika Maskati is
the Deputy Managing
Director.
She is Thai
nationality with the
age of 49
years old.
BUSINESS OPERATIONS
The subject
is engaged in
importing and distributing
various kinds of
industrial products such
as ball mill
internals, industrial consumables,
grinding balls, transformer
oil, ceramic equipment
and etc., for
steels, cement and
ceramic industries; as
well as exporting
of Thai agricultural
products such as
betel nuts, tamarind,
natural rubber [Sal
Dammar and Seedlac].
PURCHASE
The products are
purchased from both
domestic and overseas
suppliers in Republic
of China, India,
Taiwan, Malaysia and
Germany.
MAJOR SUPPLIER
Atem
International Co., Ltd. : Thailand
SALES [LOCAL]
100% of industrial
products is sold
locally by wholesale
to traders and
manufacturers.
EXPORT
100% of agricultural
products is exported
to India, Bangladesh,
Republic of China,
Cambodia, Myanmar, Malaysia,
Indonesia, Sri Lanka,
Pakistan, Laos, and
the country in
Middle East.
ASSOCIATED COMPANY
Thevaraya
Co., Ltd.
Business Type :
Importer and distributor
of raw material for
steel industry
Atem International Co.,
Ltd.
Business Type :
Manufacturer and distributor
of Seedlac and
Natural Lac Resin
for Shellac and
Aleunitic Acid industry
LITIGATION
Bankruptcy and Receivership
There are no litigation on
bankruptcy and receivership
cases filed against
the subject found
at Legal Execution
Department for the
past five years.
Others
There are no
legal suits filed
against the subject
according for the
past two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Company
Limited
EMPLOYMENT
The
subject currently employs
21 staff.
LOCATION DETAILS
The
premise is owned for
administrative office at
the heading address.
Premise is located
in provincial.
Bangkok
branch is located
at 78 Anuwong
Road, Chakkrawad, Samphanthawong, Bangkok 10100.
COMMENT
The
subject has been
firmly established for
almost seven decades.
Despite a decrease
in sales or
service income as
of November 30,
2016, the subject
obtained higher net
profit comparing to the
previous year. The decrease
in sales income
was caused by
slowdown of economy, slow
growth and less
expansion of related
industries. Nevertheless, the
subject’s business remains
strong and profitable
as usual.
FINANCIAL INFORMATION
The capital was registered at Bht.1,000,000 divided
into 10,000 shares of Bht. 100
each with fully paid.
The capital was increased later as follows:
Bht. 2,500,000
on February 20,
1995
Bht. 3,000,000
on February 8,
2005
On
November 26, 2015,
the registered capital
was decreased to
Bht. 2,400,500 divided into 24,005
shares of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[As at
June 5, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Zakib Rasheed Maskati Nationality: Indian Address : Bombay,
India |
4,344 |
18.09 |
|
Ms. Panalee Maskati Nationality: Thai Address : 45
Anuwong Road, Chakkrawad,
Samphanthawong, Bangkok |
3,245 |
13.52 |
|
Ms. Panisa Maskati Nationality: Thai Address : 45
Anuwong Road, Chakkrawad,
Samphanthawong, Bangkok |
3,245 |
13.52 |
|
Ms. Palinee Maskati Nationality: Thai Address : 45
Anuwong Road, Chakkrawad, Samphanthawong, Bangkok
|
3,245 |
13.52 |
|
Mrs. Zilika Maskati Nationality: Thai Address : 45
Anuwong Road, Chakkrawad,
Samphanthawong, Bangkok |
2,726 |
11.36 |
|
Mr. Ateeb Rasheed Maskati Nationality: Indian Address : 45
Anuwong Road, Chakkrawad,
Samphanthawong, Bangkok |
2,700 |
11.25 |
|
Mr. R.A. Maskati Nationality: Indian Address : Bombay,
India |
2,500 |
10.41 |
|
Ms. Sia A. Maskati Nationality: Indian Address : Bombay,
India |
2,000 |
8.33 |
Total Shareholders: 8
Share Structure
[As at
June 5, 2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
Thai |
4 |
12,461 |
51.91 |
|
Foreign-Indian |
4 |
11,544 |
48.09 |
|
Total |
8 |
24,005 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Ms. Soraya Tintasuwan No.
8658
BALANCE SHEET [BAHT]
The
latest financial figures
published for November
30, 2016, 2015 and
2014 were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash Equivalents |
20,777,696.25 |
28,290,752.39 |
55,415,164.13 |
|
Short-term Investment |
288,268,234.61 |
235,742,184.48 |
224,334,564.68 |
|
Trade Accounts Receivable
|
32,585,041.80 |
29,866,256.64 |
26,063,104.03 |
|
Inventories |
64,990,476.85 |
71,595,007.17 |
19,021,262.64 |
|
Other Current Assets |
1,730,840.72 |
838,461.87 |
680,075.97 |
|
|
|
|
|
|
Total Current
Assets |
408,352,290.23 |
366,332,662.55 |
325,514,171.45 |
|
Investment
in Securities available
for
Sale - at
Fair Value |
1,518,119,580.32 |
1,393,268,370.78 |
1,492,663,749.37 |
|
Investment
in Associated Company -
at Cost |
18,107,500.00 |
18,107,500.00 |
18,107,500.00 |
|
Investment
in Other Company
-
at Cost |
501,858.00 |
501,858.00 |
1,053,184.00 |
|
Property, Plant and Equipment |
12,258,060.27 |
15,821,160.14 |
16,769,382.36 |
|
Leasehold Right |
1,000.00 |
1,000.00 |
109,513.93 |
|
Deposit & Guarantee |
451,330.00 |
271,330.00 |
224,818.00 |
|
Total Assets
|
1,957,791,618.82 |
1,794,303,881.47 |
1,854,442,319.11 |
LIABILITIES
& SHAREHOLDERS' EQUITY
[BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Trust Receipt Payable |
3,762,928.25 |
5,889,669.81 |
4,319,722.09 |
|
Trade Accounts Payable |
519,198.60 |
3,346,359.60 |
7,110,048.28 |
|
Accrued Expenses |
1,433,704.61 |
1,949,389.03 |
1,723,443.05 |
|
Accrued Income Tax |
- |
2,389,953.32 |
4,090,616.90 |
|
Other Current Liabilities |
3,560,709.77 |
2,513,709.58 |
4,508,215.93 |
|
|
|
|
|
|
Total Current
Liabilities |
9,276,541.23 |
16,089,081.34 |
21,752,046.25 |
|
Retention |
2,535,777.94 |
2,535,777.94 |
2,535,777.94 |
|
Rental
Deposit for Building |
620,779.58 |
2,368,439.58 |
717,500.00 |
|
Employee
Benefit Obligation |
2,615,668.90 |
2,298,680.63 |
2,372,043.18 |
|
Other
Non-current Liabilities |
630,533.49 |
630,533.49 |
642,282.49 |
|
Total Liabilities |
15,679,301.14 |
23,922,512.98 |
28,019,649.86 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par value authorized and
issued share capital 24,005 shares
in 2016 &
2015 |
2,400,500.00 |
2,400,500.00 |
|
|
30,000 shares
in 2014 |
|
|
3,000,000.00 |
|
|
|
|
|
|
Capital Paid |
2,400,500.00 |
2,400,500.00 |
3,000,000.00 |
|
Surplus on Share
Capital |
500,000.00 |
500,000.00 |
500,000.00 |
|
Retained Earning Appropriated for Statutory Reserve |
1,500,000.00 |
1,500,000.00 |
1,500,000.00 |
|
Other Reserve |
113,000,000.00 |
113,000,000.00 |
113,000,000.00 |
|
Unappropriated |
486,615,821.37 |
442,262,131.85 |
398,668,479.66 |
|
Unrealized Profit from
Change in Value of
Investment |
1,338,095,996.31 |
1,210,718,736.64 |
1,309,754,189.59 |
|
Total Shareholders' Equity |
1,942,112,317.68 |
1,770,381,368.49 |
1,826,422,669.25 |
|
Total Liabilities
and Shareholders' Equity |
1,957,791,618.82 |
1,794,303,881.47 |
1,854,442,319.11 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales Income |
193,295,115.99 |
245,242,031.35 |
248,402,341.34 |
|
Commission Income |
- |
11,348.41 |
43,475.89 |
|
Dividend |
51,374,675.06 |
43,220,198.11 |
38,772,774.66 |
|
Rental Income from
Building & Service |
3,672,000.00 |
3,529,000.00 |
3,417,000.00 |
|
Other Service Income |
672,554.53 |
721,936.59 |
682,643.29 |
|
Gain from Sale
of Securities |
- |
2,578,794.36 |
- |
|
Gain from Sale
of Assets |
- |
59,747.67 |
3,918.08 |
|
Gain from Exchange
Rate |
- |
1,302,787.35 |
1,829,341.54 |
|
Interest Income |
133,120.59 |
88,714.04 |
95,537.58 |
|
Other Income |
467,930.47 |
1,075,034.18 |
1,838,712.09 |
|
Total Revenues
|
249,615,396.64 |
297,829,592.06 |
295,085,744.47 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
173,516,559.04 |
208,993,583.87 |
193,071,611.41 |
|
Selling Expenses |
8,198,126.95 |
8,548,441.06 |
11,877,549.02 |
|
Administrative Expenses |
19,170,694.01 |
29,300,008.95 |
18,908,858.79 |
|
Loss from Exchange Rate |
297,998.97 |
- |
5,578,796.66 |
|
Total Expenses |
201,183,378.97 |
246,842,033.88 |
229,436,815.88 |
|
|
|
|
|
|
Profit /[Loss] before Financial
Cost & Income Tax |
48,432,017.67 |
50,987,558.18 |
65,648,928.59 |
|
Financial Cost |
[201,209.47] |
[335,801.43] |
[187,172.83] |
|
|
|
|
|
|
Profit /[Loss] before Income Tax |
48,230,808.20 |
50,651,756.75 |
65,461,755.76 |
|
Income Tax |
[3,877,118.68] |
[7,058,104.56] |
[9,076,876.08] |
|
Net Profit/ [Loss] |
44,353,689.52 |
43,593,652.19 |
56,384,879.68 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
44.02 |
22.77 |
14.96 |
|
QUICK RATIO |
TIMES |
36.83 |
18.27 |
14.06 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
15.77 |
15.50 |
14.81 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.10 |
0.14 |
0.13 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
136.71 |
125.04 |
35.96 |
|
INVENTORY TURNOVER |
TIMES |
2.67 |
2.92 |
10.15 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
61.53 |
44.45 |
38.30 |
|
RECEIVABLES TURNOVER |
TIMES |
5.93 |
8.21 |
9.53 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
1.09 |
5.84 |
13.44 |
|
CASH CONVERSION CYCLE |
DAYS |
197.15 |
163.64 |
60.81 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
89.77 |
85.22 |
77.73 |
|
SELLING & ADMINISTRATION |
% |
14.16 |
15.43 |
12.39 |
|
INTEREST |
% |
0.10 |
0.14 |
0.08 |
|
GROSS PROFIT MARGIN |
% |
39.37 |
36.22 |
41.07 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
25.06 |
20.79 |
26.43 |
|
NET PROFIT MARGIN |
% |
22.95 |
17.78 |
22.70 |
|
RETURN ON EQUITY |
% |
2.28 |
2.46 |
3.09 |
|
RETURN ON ASSET |
% |
2.27 |
2.43 |
3.04 |
|
EARNING PER SHARE |
BAHT |
1,847.69 |
1,816.02 |
1,879.50 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.01 |
0.01 |
0.02 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.01 |
0.01 |
0.02 |
|
TIME INTEREST EARNED |
TIMES |
240.70 |
151.84 |
350.74 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(21.18) |
(1.27) |
|
|
OPERATING PROFIT |
% |
(5.01) |
(22.33) |
|
|
NET PROFIT |
% |
1.74 |
(22.69) |
|
|
FIXED ASSETS |
% |
(22.52) |
(5.65) |
|
|
TOTAL ASSETS |
% |
9.11 |
(3.24) |
|
ANNUAL GROWTH: ACCEPTABLE
An annual sales growth is -21.18%. Turnover has decreased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
39.37 |
Impressive |
Industrial
Average |
2.73 |
|
Net Profit Margin |
22.95 |
Impressive |
Industrial
Average |
0.41 |
|
Return on Assets |
2.27 |
Impressive |
Industrial
Average |
1.07 |
|
Return on Equity |
2.28 |
Acceptable |
Industrial
Average |
6.20 |
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 39.37%. 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 22.95%,
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
2.27%, 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 2.28%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
44.02 |
Impressive |
Industrial
Average |
0.97 |
|
Quick Ratio |
36.83 |
|
|
|
|
Cash Conversion Cycle |
197.15 |
|
|
|
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 44.02 times in 2016, increase from 22.77 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 36.83 times in 2016,
increase from 18.27 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 198 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE:
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.01 |
Impressive |
Industrial
Average |
0.87 |
|
Debt to Equity Ratio |
0.01 |
Impressive |
Industrial
Average |
6.99 |
|
Times Interest Earned |
240.70 |
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 240.71 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 0.01 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 |
15.77 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.10 |
Deteriorated |
Industrial Average |
2.63 |
|
Inventory Conversion Period |
136.71 |
|
|
|
|
Inventory Turnover |
2.67 |
Acceptable |
Industrial Average |
9.13 |
|
Receivables Conversion Period |
61.53 |
|
|
|
|
Receivables Turnover |
5.93 |
Impressive |
Industrial Average |
3.26 |
|
Payables Conversion Period |
1.09 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.93 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 125 days at the
end of 2015 to 137 days at the end of 2016. This represents a negative trend.
And Inventory turnover has decreased from 2.92 times in year 2015 to 2.67 times
in year 2016.
The company's Total Asset Turnover is calculated as 0.1 times and 0.14
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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.13 |
|
|
1 |
INR 91.96 |
|
Euro |
1 |
INR 80.34 |
|
Thai Baht |
1 |
INR 2.09 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
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.