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|
|
MIRA
INFORM REPORT
|
Report No. : |
499945 |
|
Report Date : |
29.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
RCI LABSCAN LIMITED |
|
|
|
|
Registered Office : |
24 Rama 1 Road, Rongmuang, Pathumwan, Bangkok 10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
2008 |
|
|
|
|
Com. Reg. No.: |
0105551110906 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is
engaged in manufacturing and
marketing wide range
of industrial chemicals for electronics,
metal finishing, jewelry,
pharmaceuticals &
healthcare products, cosmetics,
foods & supplements, analytical
laboratory, petroleum
& gas, agricultural and
compact disc industries. |
|
|
|
|
No. of Employees : |
140 |
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 |
|
|
|
|
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
RCI
LABSCAN LIMITED
SUMMARY
BUSINESS ADDRESS : 24
RAMA 1 ROAD,
RONGMUANG,
PATHUMWAN, BANGKOK
10330, THAILAND
TELEPHONE : [66] 2613-7911-4,
2613-7600-5
FAX :
[66] 2613-7915
E-MAIL ADDRESS : sales@rcilabscan.com
exim@rcilabscan.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2008
REGISTRATION NO. : 0105551110906
TAX ID NO. : 3033247978
CAPITAL REGISTERED : BHT.
150,000,000
CAPITAL PAID-UP : BHT.
150,000,000
SHAREHOLDER’S
PROPORTION : THAI : 99.43%
IRISH :
0.57%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. UMPHAN VIPRAKASIT,
THAI
MANAGING DIRECTOR
NO. OF STAFF : 140
LINES OF BUSINESS : INDUSTRIAL CHEMICALS
MANUFACTURER, 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 September 29,
2008 as a
private limited company
by a merger among “RCI Labscan Limited”
[Reg. No. 0105551024945], “Labscan
Asia Limited” [Reg. No. 0105538072389] and “Reagent Chemical
Industry Limited” [Reg. No. 0105534058179], under
the registered name
RCI LABSCAN LIMITED.
Its business objective
is to manufacture
and market various
kinds of industrial
chemicals to both
domestic and overseas
markets. The subject
currently employs approximately
140 staff.
The
subject’s registered address
is 24 Rama
1 Rd., Rongmuang,
Pathumwan, Bangkok 10330,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Umphan
Viprakasit |
|
Thai |
34 |
|
Mr. Taksin
Viprakasit |
|
Thai |
83 |
|
Mrs. Sumarat
Viprakasit |
|
Thai |
34 |
|
Ms. Panarat
Viprakasit |
|
Thai |
- |
|
Mr. Pichet
Viprakasit |
|
Thai |
34 |
|
Mr. Eiam
Eiamvananontachai |
|
Thai |
- |
|
Mr. Boonrat
Onkor |
|
Thai |
77 |
AUTHORIZED PERSON
Any two of
the above directors can
jointly sign on behalf of the subject
with company’s affixed.
MANAGEMENT
Mr. Umphan
Viprakasit is the
Managing Director.
He is
Thai nationality with
the age of
34 years old.
Mrs. Sumarat
Viprakasit is the
Deputy Managing Director.
She is
Thai nationality with
the age of
34 years old.
Ms. Maneeporn
Sirichaipongthep
is the Purchasing
Manager.
She is
Thai nationality.
Mr. Siriyong
Supaprapakorn
is the Marketing
Manager.
He is
Thai nationality.
Mr. Monchai
Thanasusakul
is the Sales
Manager.
He is
Thai nationality.
Mr. Ahsawin
Eiamvananontachai
is the Plant
Director.
He is
Thai nationality.
BUSINESS OPERATIONS
The
subject is engaged
in manufacturing and
marketing wide range
of industrial chemicals for electronics,
metal finishing, jewelry,
pharmaceuticals &
healthcare products, cosmetics,
foods & supplements,
analytical laboratory, petroleum & gas,
agricultural and compact
disc industries.
MAJOR BRANDS
“RCI LABSCAN”,
“LABSOLY” and “KEMMAR”
PURCHASE
Raw materials
are purchased from
suppliers and agents
in both domestic
and overseas, such as
Germany, Japan, Malaysia,
India, Singapore, Italy,
Spain and Republic
of China.
MAJOR SUPPLIERS
BASF
(Thai)
Ltd. : Thailand
Thai MC
Co., Ltd. : Thailand
SALES
80% of
the products is
sold locally by
wholesale to manufacturers
and end-users, the
remaining 20% is exported
to Malaysia, Singapore, Japan,
Taiwan, South Korea, Australia, Indonesia, Republic of
China, India, Pakistan, Hong Kong,
Bangladesh, Vietnam,
Philippines and New
Zealand.
MAJOR CUSTOMERS
Chem Supply
Pty. Ltd. : Australia
PT. Karunia
Jasindo : Indonesia
EOS Scientific
(M) Sdn. Bhd. : Malaysia
Nam Giao
Co., Ltd. : Vietnam
S
& F (Shanghai) International
Trading Co., Ltd. : Republic
of China
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 IRICO’S
DATABASE 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
Kasikornbank Public
Company Limited
EMPLOYMENT
The subject
employs approximately 140
staff.
LOCATION DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is located
in a prime
commercial area.
Factory is
located at 86 Moo 1, T.
Bangtorad, A. Muang, Samutsakorn
74000.
Tel.: [66]
34 845-319-20, Fax:
[66] 34 845-321
Warehouses:
- 704
Soi Prachit, Srinakarin
Rd., Suanluang, Bangkok
10250
- 99
Moo 9, Soi
Wat Laemfapha, Suksawad
Rd., T. Naiklongbangplagod,
A. Phrasamutjedee, Samutprakarn
10290
COMMENT
Subject was
formed in 2008 as
a manufacturer, distributor
and exporter of
industrial chemicals. The products
are for industrial
users. It becomes a reliable
company to enhance customer’s
satisfaction.
Despite overall
industrial situation remains
slow, the subject’s
business performance remains
strong.
FINANCIAL INFORMATION
The capital
was registered at
Bht. 150,000,000 divided into
15,000,000 shares of
Bht. 10 each with
fully paid.
MAIN
SHAREHOLDERS : [as
at April 27, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Taksin
Viprakasit Nationality:
Thai Address
: 73 Thaklang
Rd., T. Thabthieng, A. Muang,
Trang |
3,522,849 |
23.48 |
|
Mr. Umphan
Viprakasit Nationality:
Thai Address
: 24 Rama
1 Rd., Rongmuang,
Pathumwan,
Bangkok |
1,872,381 |
12.48 |
|
Mrs. Sumarat
Viprakasit Nationality:
Thai Address
: 24 Rama
1 Rd., Rongmuang,
Pathumwan,
Bangkok |
1,839,971 |
12.27 |
|
Mr. Pichet
Viprakasit Nationality: Thai Address
: 24 Rama
1 Rd., Rongmuang,
Pathumwan,
Bangkok |
1,693,762 |
11.29 |
|
Mr. Eiam
Eiamvananontachai Nationality:
Thai Address
: 240 Soi
Sirinthorn 2, Bangplad,
Bangkok |
1,650,000 |
11.00 |
|
Ms. Panarat Viprakasit Nationality:
Thai Address
: 24 Rama
1 Rd., Rongmuang,
Pathumwan,
Bangkok |
1,270,480 |
8.47 |
|
Others |
3,150,557 |
21.01 |
Total
Shareholders : 28
Share
Structure [as at
April 27, 2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
27 |
14,914,286 |
99.43 |
|
Foreign - Irish |
1 |
85,714 |
0.57 |
|
Total |
28 |
15,000,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms.
Thanyaporn Tangtanopajai No. 9169
RCI LABSCAN LIMITED
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 |
88,829,265.01 |
65,466,447.97 |
40,068,619.04 |
|
Trade
Accounts and Other
Receivable |
99,602,872.91 |
83,866,673.97 |
83,953,404.26 |
|
Short-term Loan |
101,923,844.75 |
- |
- |
|
Inventories
|
79,889,923.07 |
91,907,899.07 |
94,153,050.77 |
|
Other Current Assets |
288,658.03 |
- |
- |
|
|
|
|
|
|
Total
Current Assets |
370,534,563.77 |
241,241,021.01 |
218,175,074.07 |
|
Investment
in Subsidiary |
39,892,157.20 |
21,472,255.00 |
1,072,265.00 |
|
Long-term Loans |
- |
1,404,182.34 |
1,404,182.34 |
|
Property, Plant and Equipment |
218,707,896.44 |
236,715,744.66 |
271,289,360.21 |
|
Intangible
Assets |
503,580.93 |
103,752.74 |
140,304.55 |
|
Other
Non-current Assets |
886,889.00 |
427,565.00 |
655,926.80 |
|
Total Assets |
630,525,087.34 |
501,364,520.75 |
492,737,112.97 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank
Overdraft and Short-term
Loan from
Financial Institution |
103,511.66 |
831,155.98 |
12,024,735.34 |
|
Trade Accounts
and Other Payable |
45,970,785.94 |
47,878,983.43 |
47,949,172.33 |
|
Current Portion
of Long-term Liabilities |
12,550,314.79 |
124,098.60 |
- |
|
Short-term Loans |
41,000,000.00 |
- |
- |
|
Accrued Income Tax |
5,457,238.40 |
4,497,628.04 |
1,292,883.86 |
|
Other Current Liabilities |
45,616,231.54 |
- |
- |
|
|
|
|
|
|
Total Current Liabilities |
150,698,082.33 |
53,331,866.05 |
61,266,791.53 |
|
Long-term Loans
|
46,000,000.00 |
36,289,563.40 |
47,230,000.00 |
|
Provision for
Employee Benefits |
12,872,110.00 |
9,043,409.00 |
7,813,199.00 |
|
Total
Liabilities
|
211,290,656.87 |
98,664,838.45 |
116,309,990.53 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value
authorized, issued and
fully paid share
capital 15,000,000 shares |
150,000,000.00 |
150,000,000.00 |
150,000,000.00 |
|
|
|
|
|
|
Capital
Paid |
150,000,000.00 |
150,000,000.00 |
150,000,000.00 |
|
Retained
Earnings
Appropriated for
Statutory reserve |
15,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
Others |
8,000,000.00 |
8,000,000.00 |
8,000,000.00 |
|
Unappropriated |
246,234,430.47 |
229,699,682.30 |
203,427,122.44 |
|
Total
Shareholders' Equity |
419,234,430.47 |
402,699,682.30 |
376,427,122.44 |
|
Total
Liabilities and Shareholders' Equity |
630,525,087.34 |
501,364,520.75 |
492,737,112.97 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or
Services Income |
450,959,491.31 |
395,385,609.37 |
407,258,759.18 |
|
Construction Income |
2,009,957.74 |
- |
- |
|
Other
Income |
2,302,527.25 |
6,530,858.33 |
4,331,329.53 |
|
Total Revenues |
455,271,976.30 |
401,916,467.70 |
411,590,088.71 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
281,448,155.36 |
266,104,350.09 |
298,017,798.75 |
|
Selling Expenses |
51,166,330.84 |
50,348,063.96 |
49,494,288.63 |
|
Administrative
Expenses |
59,926,242.05 |
50,084,799.82 |
54,261,137.37 |
|
Total Expenses |
392,540,728.25 |
366,537,213.87 |
401,773,224.75 |
|
|
|
|
|
|
Profit /[Loss]
before Financial Cost
& Income Tax |
62,731,248.05 |
35,379,253.83 |
9,816,863.96 |
|
Financial Cost |
[3,070,695.85] |
[2,029,354.60] |
[2,095,276.77] |
|
|
|
|
|
|
Profit /[Loss]
before Income Tax |
59,660,552.20 |
33,349,899.23 |
7,721,587.19 |
|
Income Tax |
[13,125,804.03] |
[7,077,339.37] |
[2,349,583.99] |
|
Net Profit /
[Loss] |
46,534,748.17 |
26,272,559.86 |
5,372,003.20 |
RCI LABSCAN
LIMITED
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY
RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.46 |
4.52 |
3.56 |
|
QUICK RATIO |
TIMES |
1.93 |
2.80 |
2.02 |
|
|
|
|
|
|
|
ACTIVITY
RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.07 |
1.67 |
1.50 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.72 |
0.79 |
0.83 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
103.61 |
126.06 |
115.31 |
|
INVENTORY TURNOVER |
TIMES |
3.52 |
2.90 |
3.17 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
80.26 |
77.42 |
75.24 |
|
RECEIVABLES TURNOVER |
TIMES |
4.55 |
4.71 |
4.85 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
59.62 |
65.67 |
58.73 |
|
CASH CONVERSION CYCLE |
DAYS |
124.25 |
137.81 |
131.83 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
62.13 |
67.30 |
73.18 |
|
SELLING & ADMINISTRATION |
% |
24.53 |
25.40 |
25.48 |
|
INTEREST |
% |
0.68 |
0.51 |
0.51 |
|
GROSS PROFIT MARGIN |
% |
38.37 |
34.35 |
27.89 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
13.85 |
8.95 |
2.41 |
|
NET PROFIT MARGIN |
% |
10.27 |
6.64 |
1.32 |
|
RETURN ON EQUITY |
% |
11.10 |
6.52 |
1.43 |
|
RETURN ON ASSET |
% |
7.38 |
5.24 |
1.09 |
|
EARNING PER SHARE |
BAHT |
3.10 |
1.75 |
0.36 |
|
|
|
|
|
|
|
LEVERAGE
RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.34 |
0.20 |
0.24 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.50 |
0.25 |
0.31 |
|
TIME INTEREST EARNED |
TIMES |
20.43 |
17.43 |
4.69 |
|
|
|
|
|
|
|
ANNUAL
GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
14.56 |
(2.92) |
|
|
OPERATING PROFIT |
% |
77.31 |
260.39 |
|
|
NET PROFIT |
% |
77.12 |
389.06 |
|
|
FIXED ASSETS |
% |
(7.61) |
(12.74) |
|
|
TOTAL ASSETS |
% |
25.76 |
1.75 |
|
ANNUAL
GROWTH : IMPRESSIVE
An
annual sales growth is 14.56%. Turnover has increased from THB
PROFITABILITY
: EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
38.37 |
Impressive |
Industrial Average |
14.10 |
|
Net Profit Margin |
10.27 |
Impressive |
Industrial Average |
3.01 |
|
Return on Assets |
7.38 |
Impressive |
Industrial Average |
3.24 |
|
Return on Equity |
11.10 |
Impressive |
Industrial Average |
4.91 |
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 38.37%. 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 10.27%,
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 7.38%, 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 11.1%, 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 :
SATISFACTORY
LIQUIDITY
RATIO
|
Current Ratio |
2.46 |
Impressive |
Industrial Average |
1.91 |
|
Quick Ratio |
1.93 |
|
|
|
|
Cash Conversion Cycle |
124.25 |
|
|
|
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 2.46
times in 2016, decrease from 4.52 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 1.93 times in 2016, decrease from
2.8 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 125 days.
Trend of the
average competitors in the same industry for last 5 years
Current
Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE
RATIO
|
Debt Ratio |
0.34 |
Impressive |
Industrial Average |
0.38 |
|
Debt to Equity Ratio |
0.50 |
Impressive |
Industrial Average |
0.61 |
|
Times Interest Earned |
20.43 |
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 20.43 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 0.34 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 :
SATISFACTORY
ACTIVITY
RATIO
|
Fixed Assets Turnover |
2.07 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.72 |
Satisfactory |
Industrial Average |
1.07 |
|
Inventory Conversion Period |
103.61 |
|
|
|
|
Inventory Turnover |
3.52 |
Acceptable |
Industrial Average |
7.47 |
|
Receivables Conversion Period |
80.26 |
|
|
|
|
Receivables Turnover |
4.55 |
Satisfactory |
Industrial Average |
6.22 |
|
Payables Conversion Period |
59.62 |
|
|
|
The
company's Account Receivable Ratio is calculated as 4.55 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 126 days at the end of 2015 to 104 days at the end
of 2016. This represents a positive trend. And Inventory turnover has increased
from 2.9 times in year 2015 to 3.52 times in year 2016.
The
company's Total Asset Turnover is calculated as 0.72 times and 0.79 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 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
|
THB |
1 |
INR 2.09 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
DNS |
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.