|
|
|
MIRA INFORM REPORT
|
Report No. : |
509254 |
|
Report Date : |
19.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
WN ASSOCIATE CO., LTD. |
|
|
|
|
Registered Office : |
1201/82 Soi Ladprao 94 [Panjamit],
Plubpla, Wangthonglang, Bangkok 10310 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
17.10.2000 |
|
|
|
|
Com. Reg. No.: |
0105543097726 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Distributor and Exporter of Ferrous and Non-Ferrous Metal Scraps. |
|
|
|
|
No. of Employees : |
65 |
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
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of reexports, is about four times GDP. Hong Kong has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
Excess liquidity, low interest rates and a tight housing supply have caused Hong Kong property prices to rise rapidly. The lower and middle-income segments of the population increasingly find housing unaffordable.
Hong Kong's open economy has left it exposed to the global economic situation. Its continued reliance on foreign trade and investment makes it vulnerable to renewed global financial market volatility or a slowdown in the global economy.
The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's total trade by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. After peaking in 2014, overall tourist arrivals dropped 2.5% in 2015 and 4.5% in 2016. The tourism sector rebounded in 2017, with visitor arrivals rising 3.2% to 58.47 million. Travelers from Mainland China totaled 44.45 million, accounting for 76% of the total.
The Hong Kong Government is promoting the Special Administrative Region (SAR) as the preferred business hub for renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts, RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong, RMB trade settlement is allowed, and investment schemes such as the Renminbi Qualified Foreign Institutional Investor (RQFII) Program was first launched in Hong Kong. Offshore RMB activities experienced a setback, however, after the People’s Bank of China changed the way it set the central parity rate in August 2015. RMB deposits in Hong Kong fell from 1.0 trillion RMB at the end of 2014 to 559 billion RMB at the end of 2017, while RMB trade settlement handled by banks in Hong Kong also shrank from 6.8 trillion RMB in 2015 to 3.9 trillion RMB in 2017.
Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 66% of the exchange's market capitalization.
During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. In 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement (CEPA), adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, which took effect in March 2015, cover a negative list and a most-favored treatment provision. On the basis of the Guangdong Agreement, the Agreement on Trade in Services signed in November 2015 further enhanced liberalization, including extending the implementation of the majority of Guangdong pilot liberalization measures to the whole Mainland, reducing the restrictive measures in the negative list, and adding measures in the positive lists for cross-border services as well as cultural and telecommunications services. In June 2017, the Investment Agreement and the Agreement on Economic and Technical Cooperation (Ecotech Agreement) were signed under the framework of CEPA.
Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Hong Kong- Shenzhen Stock Connect the Mutual Recognition of Funds, and the Bond Connect scheme are all important steps towards opening up the Mainland’s capital markets and have reinforced Hong Kong’s role as China’s leading offshore RMB market. Additional connect schemes such as ETF Connect (for exchange-traded fund products) are also under exploration by Hong Kong authorities. In 2017, Chief Executive Carrie LAM announced plans to increase government spending on research and development, education, and technological innovation with the aim of spurring continued economic growth through greater sector diversification.
|
Source
: CIA |
COMPANY
NAME
WN ASSOCIATE CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 1201/82 SOI
LADPRAO 94 [PANJAMIT],
PLUBPLA,
WANGTHONGLANG, BANGKOK
10310, THAILAND
TELEPHONE : [66] 2936-6921-3
FAX : [66] 2936-6945
E-MAIL
ADDRESS : pichai@wnassociate.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2000
REGISTRATION
NO. : 0105543097726
TAX
ID NO. : 3030172778
CAPITAL REGISTERED : BHT. 18,000,000
CAPITAL PAID-UP : BHT.
18,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
PICHAI CHONGSAKULCHAI, THAI
MANAGING
DIRECTOR
NO.
OF STAFF : 65
LINES
OF BUSINESS : FERROUS AND NON-FERROUS METAL SCRAPS
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 October 17,
2000 as a
private limited company
under the registered
name WN ASSOCIATE
CO., LTD., by
Thai group, with the
business objective to
distribute and export
ferrous and non-ferrous
metal scraps. It
currently employs 65
staff.
The
subject’s registered address
is 1201/82 Soi
Ladprao 94 [Panjamit],
Plubpla, Wangthonglang,
Bangkok 10310, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Pichai Chongsakulchai |
[x] |
Thai |
48 |
|
Ms. Worapa Chongsakulchai |
[x] |
Thai |
49 |
|
Ms. Hathaithip Chongsakulchai |
|
Thai |
61 |
|
Ms. Saowanee Manomas |
|
Thai |
41 |
|
Mrs. Suwanna Bremenkamp |
[x] |
Thai |
42 |
AUTHORIZED
PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Pichai Chongsakulchai is
the Managing Director.
He is Thai
nationality with the
age of 48
years old.
Ms. Worapa Chongsakulchai is
the Deputy Managing
Director / Finance Director.
She is Thai
nationality with the
age of 49
years old.
Ms. Kanyaphat Chaleepol is
the Export Manager.
She is Thai
nationality.
Ms. Aranya Thaola is
the Sales & Marketing Manager.
She is Thai
nationality.
BUSINESS
OPERATIONS
The subject
is engaged in
distributing and exporting
various kinds of
ferrous and non-ferrous
metal scraps such
as steel scrap, brass
scrap, copper scrap,
stainless scrap, silver
scrap, lead and
wheel alloy, titanium,
UBC scrap, talon & taste scrap,
aluminium litho sheet
and etc.
PURCHASE
100% of the
products is purchased
from local suppliers.
SALES
The products are
sold by wholesale
to manufacturers both
locally and overseas
in
Republic of China, Indonesia, India, Malaysia, Japan,
Taiwan, Singapore and Hong Kong.
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 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.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Company
Limited
EMPLOYMENT
The subject currently employs 65 staff.
LOCATION
DETAILS
The premise is owned for administrative
office at the heading address. Premise is located in commercial/
residential area.
Recycled
factory and warehouse
is located at
55/21 Moo 4, T.
Bungkamploy, A. Lamlukka, Pathumthani 12150.
COMMENT
The
subject’s operating performance
in 2016 was
impressive with an
increase in both
sales or service
income and net profit comparing
to the previous
year, resulted by
effective expansion on
customer base of
both local and
overseas markets in the past
year. The subject
is doing a
good business with
strong performance.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 100,000
shares of
Bht.
10 each with
fully paid.
The
capital was increased
later as follows:
Bht. 3,000,000
on February 8,
2002
Bht. 5,000,000
on June 13, 2003
Bht. 18,000,000
on October 22,
2009
The
latest registered capital
was increased to Bht.
18,000,000 divided into
1,800,000 shares of Bht. 10
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
[As at May 5, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Pichai Chongsakulchai Nationality: Thai Address : 1201/82
Soi Ladprao 94,
Ladprao Road,
Plubpla, Wangthonglang, Bangkok
|
540,000 |
30.00 |
|
Ms. Hathaithip Chongsakulchai Nationality: Thai Address : 13
Soi Wattana 1,
Srisamrong Road, T.
Koksamrong, A. Koksamrong, Lopburi |
360,000 |
20.00 |
|
Ms. Pratana Chongsakulchai Nationality: Thai Address : 16
Soi Wattana 1,
Srisamrong Road, T.
Koksamrong, A. Koksamrong, Lopburi |
180,000 |
10.00 |
|
Ms. Worapa Chongsakulchai Nationality: Thai Address : 354
Soi Ladprao 112,
Ladprao Road,
Wangthonglang, Bangkok |
180,000 |
10.00 |
|
Mr. Winai Jongkamunkong Nationality: Thai Address : 13
Soi Wattana 1,
Srisamrong Road, T.
Koksamrong, A. Koksamrong, Lopburi |
180,000 |
10.00 |
|
Ms. Napa Jongsakulchai Nationality: Thai Address : 16
Soi Wattana 1,
Srisamrong Road, T.
Koksamrong, A. Koksamrong, Lopburi |
180,000 |
10.00 |
|
Ms. Saowanee Manomas Nationality: Thai Address : 1201/54
Soi Ladprao 94,
Ladprao Road,
Plubpla, Wangthonglang, Bangkok
|
90,000 |
5.00 |
|
Mrs. Suwanna Bremenkamp Nationality: Thai Address : 259
Soi Ladprao 94,
Ladprao Road,
Plubpla, Wangthonglang, Bangkok
|
90,000 |
5.00 |
Total Shareholders : 8
Share Structure [as at
May 5, 2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
8 |
1,800,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
8 |
1,800,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Phuwadet Chinchaicharoen No.
3573
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 |
12,313.61 |
3,072,122.58 |
164,569.85 |
|
Trade Accounts and
Other Receivable |
18,192,266.80 |
5,103,147.43 |
7,886,225.53 |
|
Inventories |
7,570,456.78 |
1,348,580.41 |
3,510,162.50 |
|
Other Current Assets |
2,419,751.35 |
1,415,981.89 |
58,478.08 |
|
Total Current Assets
|
28,194,788.54 |
10,939,832.31 |
11,619,435.96 |
|
|
|
|
|
|
Property, Plant and
Equipment |
13,585,752.21 |
14,134,376.75 |
15,283,914.26 |
|
Other Non-current Assets |
220,790.56 |
125,370.00 |
125,370.00 |
|
Total Assets |
42,001,331.31 |
25,199,579.06 |
27,028,720.22 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and Short-term Loan From Financial Institutions |
5,511,482.52 |
- |
1,858,246.46 |
|
Trade Accounts and Other
Payable |
1,210,822.28 |
752,452.90 |
1,246,961.66 |
|
Current Portion of Long-term Liabilities |
3,320,000.00 |
- |
- |
|
Accrued Income Tax |
1,116,951.38 |
75,333.38 |
178,114.58 |
|
Other Current Liabilities |
59,856.18 |
57,379.37 |
313,340.61 |
|
Total Current Liabilities |
11,219,112.36 |
885,165.65 |
3,596,663.31 |
|
Total Liabilities |
11,219,112.36 |
885,165.65 |
3,596,663.31 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, and
issued share capital
1,800,000 shares
|
18,000,000.00 |
18,000,000.00 |
18,000,000.00 |
|
Capital Paid |
18,000,000.00 |
18,000,000.00 |
18,000,000.00 |
|
Retained Earning -Unappropriated [Deficit] |
12,782,218.95 |
6,314,413.41 |
5,432,056.91 |
|
Total Shareholders’ Equity |
30,782,218.95 |
24,314,413.41 |
23,432,056.91 |
|
Total Liabilities and
Shareholders’ Equity |
42,001,331.31 |
25,199,579.06 |
27,028,720.22 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
537,303,588.55 |
219,766,032.64 |
404,273,056.14 |
|
Other Income |
785,876.83 |
1,523,791.68 |
687,288.97 |
|
Total Revenues |
538,089,465.38 |
221,289,824.32 |
404,960,345.11 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
510,838,448.00 |
204,440,205.57 |
383,826,402.97 |
|
Selling Expenses |
10,725,097.20 |
7,924,224.64 |
10,547,874.33 |
|
Administrative Expenses |
8,345,475.90 |
7,717,691.30 |
8,491,073.82 |
|
Total Expenses |
529,909,021.10 |
220,082,121.51 |
402,865,351.12 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost and Income Tax |
8,180,444.28 |
1,207,702.81 |
2,094,993.99 |
|
Financial Cost |
[95,687.36] |
[100,012.93] |
[396,333.09] |
|
|
|
|
|
|
Profit /[Loss] before Income
Tax |
8,084,756.92 |
1,107,689.88 |
1,698,660.90 |
|
Income Tax |
[1,616,951.38] |
[225,333.38] |
[358,114.58] |
|
Net Profit / [Loss] |
6,467,805.54 |
882,356.50 |
1,340,546.32 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.51 |
12.36 |
3.23 |
|
QUICK RATIO |
TIMES |
1.62 |
9.24 |
2.24 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
39.55 |
15.55 |
26.45 |
|
TOTAL ASSETS TURNOVER |
TIMES |
12.79 |
8.72 |
14.96 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
5.41 |
2.41 |
3.34 |
|
INVENTORY TURNOVER |
TIMES |
67.48 |
151.60 |
109.35 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
12.36 |
8.48 |
7.12 |
|
RECEIVABLES TURNOVER |
TIMES |
29.53 |
43.06 |
51.26 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
0.87 |
1.34 |
1.19 |
|
CASH CONVERSION CYCLE |
DAYS |
16.90 |
9.54 |
9.27 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
95.07 |
93.03 |
94.94 |
|
SELLING & ADMINISTRATION |
% |
3.55 |
7.12 |
4.71 |
|
INTEREST |
% |
0.02 |
0.05 |
0.10 |
|
GROSS PROFIT MARGIN |
% |
5.07 |
7.67 |
5.23 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.52 |
0.55 |
0.52 |
|
NET PROFIT MARGIN |
% |
1.20 |
0.40 |
0.33 |
|
RETURN ON EQUITY |
% |
21.01 |
3.63 |
5.72 |
|
RETURN ON ASSET |
% |
15.40 |
3.50 |
4.96 |
|
EARNING PER SHARE |
BAHT |
3.59 |
0.49 |
0.74 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.27 |
0.04 |
0.13 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.36 |
0.04 |
0.15 |
|
TIME INTEREST EARNED |
TIMES |
85.49 |
12.08 |
5.29 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
144.49 |
(45.64) |
|
|
OPERATING PROFIT |
% |
577.36 |
(42.35) |
|
|
NET PROFIT |
% |
633.02 |
(34.18) |
|
|
FIXED ASSETS |
% |
(3.88) |
(7.52) |
|
|
TOTAL ASSETS |
% |
66.67 |
(6.77) |
|
ANNUAL
GROWTH: IMPRESSIVE
An annual sales growth is 144.49%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
5.07 |
Impressive |
Industrial
Average |
4.51 |
|
Net Profit Margin |
1.20 |
Impressive |
Industrial
Average |
(0.54) |
|
Return on Assets |
15.40 |
Impressive |
Industrial
Average |
(1.53) |
|
Return on Equity |
21.01 |
Impressive |
Industrial
Average |
(5.33) |
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 5.07%. 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 1.2%,
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
15.4%, 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 21.01%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
2.51 |
Impressive |
Industrial
Average |
1.48 |
|
Quick Ratio |
1.62 |
|
|
|
|
Cash Conversion Cycle |
16.90 |
|
|
|
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 2.51 times in 2016, decrease from 12.36 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 1.62 times in 2016,
decrease from 9.24 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 17 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE:
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.27 |
Impressive |
Industrial
Average |
0.74 |
|
Debt to Equity Ratio |
0.36 |
Impressive |
Industrial
Average |
2.78 |
|
Times Interest Earned |
85.49 |
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 85.5 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 0.27 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
39.55 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
12.79 |
Impressive |
Industrial
Average |
2.83 |
|
Inventory Conversion Period |
5.41 |
|
|
|
|
Inventory Turnover |
67.48 |
Impressive |
Industrial
Average |
6.57 |
|
Receivables Conversion Period |
12.36 |
|
|
|
|
Receivables Turnover |
29.53 |
Impressive |
Industrial
Average |
7.85 |
|
Payables Conversion Period |
0.87 |
|
|
|
The company's Account Receivable Ratio is calculated as 29.53 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 2 days at the end
of 2015 to 5 days at the end of 2016. This represents a negative trend. And
Inventory turnover has decreased from 151.6 times in year 2015 to 67.48 times
in year 2016.
The company's Total Asset Turnover is calculated as 12.79 times and 8.72
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 67.96 |
|
|
1 |
INR 91.88 |
|
Euro |
1 |
INR 80.28 |
|
Thai Baht |
1 |
INR 2.12 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.