MIRA
INFORM REPORT
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Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
INDUSTEEL
CREUSOT |
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Registered Office : |
1 Rue Luigi Cherubini 93210 St Denis |
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Country : |
France |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
19.12. 2002 |
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Com. Reg. No.: |
06B03070, BOBIGNY |
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Legal Form : |
Joint Stock Company Simplified |
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Line of Business : |
Manufacture of Basic Iron and Steel and of Ferro-Alloys (ECSC) |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
EUR 150000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
INDUSTEEL CREUSOT
1 RUE LUIGI
CHERUBINI
93210 ST
DENIS FR
Tel. Number
+33-1-71920000
Business founded
19 December 2002
Business registered
24 December 2002 -
Joint stock company simplified (unique partner)
Registration number
06B03070, BOBIGNY,
party identification
444718738,
Legal form
Joint stock
company simplified (unique partner)
Activities
Manufacture of
basic iron and steel and of ferro-alloys (ECSC)
Payment experience
Payment regular
Credit opinion
High
creditworthiness
Maximum
credit limit 150000 EUR is advised
The
exportvolume in percentage of total sales for the company. 0,00
Financial
structure (balance sheet analysis) : Good
Cash
situation (balance sheet analysis) : Weak
Profitability
(balance sheet analysis) : Very good
Commitments
(regarding contractual obligations) : Fulfilled („respectés“)
Payment
defaults : None
Employees (Business)
924
Total number of shareholders
1
Total share capital31 December
2006
EUR 29370000
Branch office(s)
USINE DU
BREUIL,71210 TORCY
7 RUE DU
PAVILLON,71670 LE BREUIL
56 RUE
CLEMENCEAU,71200 LE CREUSOT
7 RUE DU
PAVILLON,71670 LE BREUIL
Bank
SG 75 PARIS LA
DEFENSE - BNP
Board members
NICK
ALEX President
Management
CHEVAL
DIDIER Managing director
Parent company
331310870 INDUSTEEL
FRANCE 100,00 %
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The business
owns or partly owns one or more pieces of land and buildings? Yes(Property)
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Turnover for the
period: 00 0000 - 31 December 2006 in
EUR 379.205.000,00 |
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Not
consolidated profit and loss turnover of the business: |
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Corporate
balance sheet for the year: 00 0000 - 31 December 2006 in
EUR |
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Total assets incl. prepaid expenses and accrued income |
265.364.000,- |
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Total fixed assets |
53.003.000,- |
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Total intangible fixed assets |
4.493.000,- |
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Total tangible fixed assets |
48.305.000,- |
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Land and buildings |
1.962.000,- |
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Plant, machinery and equipment |
38.555.000,- |
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Total financial fixed assets |
205.000,- |
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Loans, shares and participations |
97.000,- |
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Total Current assets |
212.362.000,- |
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Inventories and work in progress (incl. prepayments) |
126.560.000,- |
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Accounts receivable (trade) |
70.636.000,- |
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Cash in hand and at bank |
254.000,- |
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Total accrued income and prepaid expenses |
414.000,- |
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Total equity, provisions, liabilities, accrued expenses and deferred
income |
265.364.000,- |
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Total equity (Shareholders' funds) |
63.009.000,- |
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Issued (subscribed) capital |
29.370.000,- |
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Share premium account (capital reserve) |
2.768.000,- |
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Legal reserves |
328.000,- |
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Profit or loss carried forward |
227.000,- |
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Profit or loss for the previous year |
15.637.000,- |
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Profit or loss for the financial year |
27.901.000,- |
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Total provisions |
18.477.000,- |
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Total liabilities |
183.877.000,- |
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Total long-term liabilities |
33.637.000,- |
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Long-term Loans, Mortgage debts |
33.637.000,- |
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Total current liabilities |
150.240.000,- |
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Current accounts payable (trade) |
93.034.000,- |
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Income and social tax liabilities |
30.799.000,- |
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Borrowing ratio |
244,50 % |
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Current ratio |
141,35 % |
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Debt gearing |
44,73 % |
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Profit margin. |
8,56 % |
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Quick ratio |
57,11 % |
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Return on assets |
12,23 % |
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Return on equity. |
37,10 % |
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Solidity or equity ratio |
28,34 % |
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Corporate profit
and loss account for the year: 00 0000 - 31 December 2006 in
EUR |
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Total operating income/revenue |
425.868.000,- |
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Main revenue (sales/turnover) |
379.205.000,- |
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Total operating expenses |
393.410.000,- |
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Personnel costs |
31.709.000,- |
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Depreciation |
5.912.000,- |
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Operating profit or loss |
32.458.000,- |
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Financial income |
10.046.000,- |
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Financial expenses |
9.906.000,- |
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Result of ordinary operations |
32.598.000,- |
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Extraordinary income |
11.142.000,- |
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Extraordinary expenses |
6.081.000,- |
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Extraordinary result |
5.061.000,- |
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Pre-tax and pre-appropriation profit or loss |
32.598.000,- |
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Taxes |
8.163.000,- |
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Net profit or loss |
27.901.000,- |
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Turnover for the period: 00 0000 - 31 December 2005 in
EUR 290.172.000,00 |
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Not consolidated profit and loss turnover of the business: |
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Corporate
balance sheet for the year: 00 0000 - 31 December 2005 in
EUR |
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Total assets incl. prepaid expenses and accrued income |
161.324.000,- |
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Total fixed assets |
29.412.000,- |
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Total intangible fixed assets |
4.516.000,- |
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Total tangible fixed assets |
24.690.000,- |
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Land and buildings |
1.317.000,- |
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Plant, machinery and equipment |
18.453.000,- |
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Total financial fixed assets |
207.000,- |
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Loans, shares and participations |
99.000,- |
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Total Current assets |
131.912.000,- |
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Inventories and work in progress (incl. prepayments) |
64.064.000,- |
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Accounts receivable (trade) |
57.990.000,- |
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Cash in hand and at bank |
3.760.000,- |
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Total accrued income and prepaid expenses |
157.000,- |
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Total equity, provisions, liabilities, accrued expenses and deferred
income |
161.324.000,- |
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Total equity (Shareholders' funds) |
33.053.000,- |
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Issued (subscribed) capital |
24.037.000,- |
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Profit or loss carried forward |
-9.073.000,- |
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Profit or loss for the previous year |
-827.000,- |
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Profit or loss for the financial year |
15.637.000,- |
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Total provisions |
13.424.000,- |
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Total liabilities |
114.847.000,- |
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Total long-term liabilities |
23.252.000,- |
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Long-term Loans, Mortgage debts |
23.252.000,- |
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Total current liabilities |
91.595.000,- |
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Current accounts payable (trade) |
59.041.000,- |
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Income and social tax liabilities |
15.537.000,- |
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Borrowing ratio |
274,01 % |
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Current ratio |
144,02 % |
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Debt gearing |
55,48 % |
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Profit margin. |
6,80 % |
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Quick ratio |
74,07 % |
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Return on assets |
12,24 % |
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Return on equity. |
37,31 % |
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Solidity or equity ratio |
25,98 % |
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Corporate profit
and loss account for the year: 00 0000 - 31 December 2005 in
EUR |
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Total operating income/revenue |
308.918.000,- |
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Main revenue (sales/turnover) |
290.172.000,- |
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Total operating expenses |
289.179.000,- |
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Cost of materials (type of expenditure format) |
2.000,- |
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Personnel costs |
27.526.000,- |
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Depreciation |
4.085.000,- |
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Operating profit or loss |
19.739.000,- |
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Financial income |
8.992.000,- |
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Financial expenses |
8.616.000,- |
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Result of ordinary operations |
20.116.000,- |
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Extraordinary income |
6.008.000,- |
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Extraordinary expenses |
9.759.000,- |
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Extraordinary result |
-3.750.000,- |
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Pre-tax and pre-appropriation profit or loss |
20.115.000,- |
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Taxes |
-90.000,- |
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Net profit or loss |
15.637.000,- |
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Turnover for the period: 00 0000 - 31 December 2004 in
EUR 223.228.000,00 |
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Not consolidated profit and loss turnover of the business: |
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Corporate
balance sheet for the year: 00 0000 - 31 December 2004 in
EUR |
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Total assets incl. prepaid expenses and accrued income |
149.480.000,- |
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Total fixed assets |
31.190.000,- |
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Total intangible fixed assets |
2.994.000,- |
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Total tangible fixed assets |
27.850.000,- |
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Land and buildings |
1.357.000,- |
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Plant, machinery and equipment |
15.604.000,- |
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Total financial fixed assets |
346.000,- |
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Loans, shares and participations |
212.000,- |
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Total Current assets |
118.290.000,- |
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Inventories and work in progress (incl. prepayments) |
59.733.000,- |
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Accounts receivable (trade) |
47.862.000,- |
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Cash in hand and at bank |
1.558.000,- |
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Total accrued income and prepaid expenses |
142.000,- |
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Total equity, provisions, liabilities, accrued expenses and deferred
income |
149.480.000,- |
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Total equity (Shareholders' funds) |
17.424.000,- |
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Issued (subscribed) capital |
24.037.000,- |
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Profit or loss carried forward |
-8.245.000,- |
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Profit or loss for the financial year |
-827.000,- |
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Total provisions |
23.701.000,- |
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Total liabilities |
108.355.000,- |
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Total long-term liabilities |
14.975.000,- |
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Long-term Loans, Mortgage debts |
14.947.000,- |
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Long-term liabilities to credit institutions |
28.000,- |
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Total current liabilities |
93.380.000,- |
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Current accounts payable (trade) |
63.751.000,- |
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Income and social tax liabilities |
16.440.000,- |
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Borrowing ratio |
327,69 % |
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Current ratio |
126,68 % |
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Debt gearing |
45,29 % |
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Profit margin. |
0,76 % |
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Quick ratio |
62,71 % |
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Return on assets |
1,13 % |
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Return on equity. |
-2,50 % |
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Solidity or equity ratio |
22,12 % |
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Corporate profit
and loss account for the year: 00 0000 - 31 December 2004 in
EUR |
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Total operating income/revenue |
259.521.000,- |
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Main revenue (sales/turnover) |
223.228.000,- |
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Total operating expenses |
257.835.000,- |
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Personnel costs |
27.242.000,- |
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Depreciation |
3.648.000,- |
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Operating profit or loss |
1.686.000,- |
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Financial income |
4.952.000,- |
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Financial expenses |
6.725.000,- |
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Result of ordinary operations |
-87.000,- |
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Extraordinary income |
4.105.000,- |
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Extraordinary expenses |
4.048.000,- |
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Extraordinary result |
57.000,- |
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Pre-tax and pre-appropriation profit or loss |
-87.000,- |
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Net profit or loss |
-827.000,- |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.67 |
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UK Pound |
1 |
Rs.80.92 |
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Euro |
1 |
Rs.63.71 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)