MIRA INFORM REPORT

 

 

Report Date :

24.07.2008

 

IDENTIFICATION DETAILS

 

Name :

KANGASTUS OY

 

 

Registered Office :

Artturintie, Kangasala, 36220, Fi

 

 

Country :

Finland

 

 

Financials (as on) :

28.02.2007

 

 

Date of Incorporation :

01.01.1986

 

 

Com. Reg. No.:

06097990

 

 

Legal Form :

Private Joint-Stock Company

 

 

Line of Business :

Manufacturer of Made-Up Textile Articles, Exceptapparel

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

EUR 33000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints  

 

 

Litigation :

Clear

 

 

Name  & Address

 

KANGASTUS OY

ARTTURINTIE 12-14

36220 KANGASALA FI

Tel. Number                      +358-3-3792100

Fax number                      +358-3-3792315

web-address                     WWW.KANGASTUS.FI

E-mail address                  KANGASTUS@KANGASTUS.FI

 

 

Business founded

01 January 1986

Business registered

10 July 1986 - Private joint-stock company

Tax number :,

06097990,

Registration number,

06097990,

Registration address,

ARTTURINTIE, KANGASALA, 36220, FI

Visiting address,

ARTTURINTIE 12-14, KANGASALA, 36220, FI

Delivery address,

ARTTURINTIE 12-14, KANGASALA, 36220, FI

Legal form

Private joint-stock company

Activities

Manufacture of made-up textile articles, exceptapparel

Payment experience

No complaints known

Credit opinion

High creditworthiness

 

Maximum credit limit 33000 EUR is advised

Employees (Business)

 4

Total share capital10 July 1986

EUR 10091

Management

NIEMINEN EERO MARKUS V!EIN!EM!O   Managing director

Board members

SUOMINEN YRJ!O ILMARI   Chairman of the board

 

NIEMINEN EERO MARKUS V!EIN!EM!O   Boardmember

 

VIRTANEN JORMA OIVA JUHANI   Boardmember

(Part-) Owner

NIEMINEN EERO MARKUS V!EIN!EM!O   50,0 %   Shareholder

 

VIRTANEN JORMA OIVA JUHANI   50,0 %   Shareholder

Auditor

REPO KARI ILMARI   Auditor

 

KOSKIO EILA MARJATTA VALPURI   Deputy auditor

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 21 April 1994

all debentures and debenture mortgages taken out.  168188 Total debentures / debenture mortgages

 

Corporate balance sheet/profit and loss account for the year: 01 March 2006 - 28 February 2007  in  EUR 

Total assets incl. prepaid expenses and accrued income

671.000,-

Total fixed assets

3.000,-

Total tangible fixed assets

3.000,-

Plant, machinery and equipment

3.000,-

Total Current assets

668.000,-

Inventories and work in progress (incl. prepayments)

380.000,-

Accounts receivable (trade)

283.000,-

Cash in hand and at bank

5.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

671.000,-

Total equity (Shareholders' funds)

415.000,-

Issued (subscribed) capital

10.000,-

Profit or loss for the previous year

338.000,-

Profit or loss for the financial year

67.000,-

Total liabilities

257.000,-

Total long-term liabilities

33.000,-

Long-term liabilities to credit institutions

33.000,-

Total current liabilities

224.000,-

Current liabilities to credit institutions

192.000,-

Income and social tax liabilities

32.000,-

Total operating income/revenue

1.567.000,-

Main revenue (sales/turnover)

1.565.000,-

Total operating expenses

287.000,-

Cost of materials (type of expenditure format)

-992.000,-

Personnel costs

198.000,-

Depreciation

1.000,-

Operating profit or loss

89.000,-

Financial income

3.000,-

Financial expenses

1.000,-

Result of ordinary operations

91.000,-

Pre-tax and pre-appropriation profit or loss

91.000,-

Taxes

24.000,-

Net profit or loss

67.000,-

Borrowing ratio

61,93 %

Current ratio

298,21 %

Debt gearing

7,95 %

Profit margin.

5,88 %

Quick ratio

116,96 %

Return on assets

13,69 %

Return on equity.

21,93 %

Solidity or equity ratio

61,85 %

Change in turnover %

8,-

Turnover per person:

391.250,-

Operating margin

6,-

Trading profit %

6,-

Return on investment %

21,-

Return on capital %

14,-

Quick ratio

1,-

Current ratio

3,-

Equity ratio

62,-

Working capital %

32,-

Inventories/turnover %

24,-

Accounts receivable turnover in days

59,-

Accounts payable turnover in days

51,-

 

Corporate balance sheet/profit and loss account for the year: 01 March 2005 - 28 February 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

632.000,-

Total fixed assets

4.000,-

Concessions and industrial rights, goodwill

0,-

Total tangible fixed assets

4.000,-

Plant, machinery and equipment

4.000,-

Total Current assets

628.000,-

Inventories and work in progress (incl. prepayments)

443.000,-

Accounts receivable (trade)

141.000,-

Cash in hand and at bank

44.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

632.000,-

Total equity (Shareholders' funds)

368.000,-

Issued (subscribed) capital

10.000,-

Profit or loss for the previous year

305.000,-

Profit or loss for the financial year

53.000,-

Total liabilities

265.000,-

Long-term liabilities to credit institutions

0,-

Total current liabilities

265.000,-

Current liabilities to credit institutions

240.000,-

Income and social tax liabilities

25.000,-

Total operating income/revenue

1.456.000,-

Main revenue (sales/turnover)

1.456.000,-

Total operating expenses

119.000,-

Cost of materials (type of expenditure format)

-1.082.000,-

Personnel costs

182.000,-

Depreciation

3.000,-

Operating profit or loss

70.000,-

Financial income

3.000,-

Financial expenses

2.000,-

Result of ordinary operations

71.000,-

Pre-tax and pre-appropriation profit or loss

71.000,-

Taxes

19.000,-

Net profit or loss

53.000,-

Borrowing ratio

72,01 %

Current ratio

236,98 %

Debt gearing

0 %

Profit margin.

5,01 %

Quick ratio

68,3 %

Return on assets

11,53 %

Return on equity.

19,29 %

Solidity or equity ratio

58,23 %

Change in turnover %

8,-

Turnover per person:

364.000,-

Operating margin

5,-

Trading profit %

5,-

Return on investment %

19,-

Return on capital %

12,-

Quick ratio

1,-

Current ratio

2,-

Equity ratio

58,-

Working capital %

25,-

Inventories/turnover %

30,-

Accounts receivable turnover in days

32,-

Accounts payable turnover in days

70,-

 

Corporate balance sheet/profit and loss account for the year: 01 March 2004 - 28 February 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

608.000,-

Total fixed assets

5.000,-

Total tangible fixed assets

5.000,-

Plant, machinery and equipment

5.000,-

Total Current assets

602.000,-

Inventories and work in progress (incl. prepayments)

439.000,-

Accounts receivable (trade)

160.000,-

Cash in hand and at bank

3.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

608.000,-

Total equity (Shareholders' funds)

335.000,-

Issued (subscribed) capital

10.000,-

Profit or loss for the previous year

257.000,-

Profit or loss for the financial year

68.000,-

Total liabilities

273.000,-

Total long-term liabilities

15.000,-

Long-term liabilities to credit institutions

15.000,-

Total current liabilities

258.000,-

Current liabilities to credit institutions

235.000,-

Income and social tax liabilities

23.000,-

Total operating income/revenue

1.352.000,-

Main revenue (sales/turnover)

1.352.000,-

Total operating expenses

120.000,-

Cost of materials (type of expenditure format)

-970.000,-

Personnel costs

167.000,-

Depreciation

3.000,-

Operating profit or loss

92.000,-

Financial income

2.000,-

Financial expenses

4.000,-

Result of ordinary operations

90.000,-

Pre-tax and pre-appropriation profit or loss

90.000,-

Taxes

24.000,-

Net profit or loss

68.000,-

Borrowing ratio

81,49 %

Current ratio

233,33 %

Debt gearing

4,48 %

Profit margin.

6,95 %

Quick ratio

63,18 %

Return on assets

15,46 %

Return on equity.

26,87 %

Solidity or equity ratio

55,1 %

Change in turnover %

14,-

Turnover per person:

338.000,-

Operating margin

7,-

Trading profit %

7,-

Return on investment %

26,-

Return on capital %

16,-

Quick ratio

1,-

Current ratio

2,-

Equity ratio

55,-

Working capital %

28,-

Inventories/turnover %

33,-

Accounts receivable turnover in days

36,-

Accounts payable turnover in days

72,-

 

Turnover for the period: 01 March 2006 - 28 February 2007  in  EUR 1.565.000,00

 Not consolidated profit and loss turnover of the business: 

 

Turnover for the period: 01 March 2005 - 28 February 2006  in  EUR 1.456.000,00

 Not consolidated profit and loss turnover of the business: 

 

Turnover for the period: 01 March 2004 - 28 February 2005  in  EUR 1.352.000,00

 Not consolidated profit and loss turnover of the business: 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 41.96

UK Pound

1

Rs.83.78

Euro

1

Rs.65.82

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions