MIRA
INFORM REPORT
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Report Date : |
06.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
KALINEL EOOD |
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Formerly Known as : |
KALINEL - MARIN RADEVSKI ET |
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Registered Office : |
Ul Lakaritsa 2 5600 Troyan |
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Country : |
Bulgaria |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Sole Proprietor Limited Liability Company (EOOD) |
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Line of Business : |
Manufacture of Textile-Pillows for IKEA |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
EUR 500 000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY & LOCATION
KALINEL EOOD
ul Lakaritsa 2
5600 Troyan, Bulgaria
Tel: +359-670/ 62677; +359-670/ 63464;
Fax: +359-670/ 64310;
Email: kalinelco@yahoo.com kalinelco@abv.bg, Internet:
http://www.kalinelco.com
ESTABLISHMENT & REGISTRATION
Established in 1994 as KALINEL - MARIN RADEVSKI ET (Sole Trader) Bulstat: 820174589
On 20.07.2005 name
was changed to KALINEL EOOD and legal form was changed to Ltd, Bulstat
110549817
Registered at Lovech district court
Court number 187/2005
Bulstat: 110549817
VAT: BG110549817
LEGAL FORM
Sole Proprietor
Limited Liability Company (EOOD)
REGISTERED CAPITAL
BGN 500 000,-
SHAREHOLDERS
MARIN KOLEV RADEVSKI 100%
ID 5808053047, born.
05.08.1958
MANAGEMENT
MARIN KOLEV
RADEVSKI - Manager
RELATED COMPANIES
APRIMEKS,
KUMIR-RADEVSKI I S-IE,
BUSINESS OPERATION
The company manufactures
textile-pillows for IKEA
EXPORT
FR, AT, SE, PL
(main partner abroad is IKEA)
IMPORT
Taiwan, Korea,
Macedonia
TURNOVER:
2002: BGN 3 968 000
2003: BGN 6 703 000
2004: BGN 11 633 000
2005: BGN 8 809 000
2006: BGN 20 588 000
2007: BGN 34 675 000
NUMBER OF EMPLOYEES
300
REAL ESTATE
Land 15426
m2
Production premises 2744 m2
MODES OF PAYMENT
Payments are
within contracted terms
FINANCIAL OPINION
Normal solvency
BANKERS
Raiffeisenbank
(Bulgaria) AD, Troyan, www.rbb.bg
UNITED BULGARIAN BANK AD, www.rbb.bg
UNICREDIT BULBANK AD, www.rbb.bg
CREDIT LIMIT
EUR 500 000,- for
30 days
Exchange since for 1998 BGN (denominated lev) = 0.51 EUR
Balance sheet
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|
2005 |
2006 |
2007 |
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Land |
3 |
33 |
|
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Buildings |
1524 |
1632 |
|
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Machinery and equipment |
2637 |
2305 |
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Special constructions |
0 |
0 |
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Vehicles |
95 |
149 |
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Breeding and draught animals |
0 |
0 |
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Other tangible fixed assets |
34 |
66 |
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Costs on acquisition and liquidation of fixed tangible assets |
0 |
73 |
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Tangible fixed assets |
4293 |
4258 |
4666 |
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Concessions, patents, licenses, trade marks etc |
0 |
0 |
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Software |
2 |
1 |
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Capitalized value of research and development |
0 |
0 |
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Other intangible assets |
0 |
0 |
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Intangible assets |
2 |
1 |
4 |
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Shares in undertakings |
0 |
0 |
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Shares and participations |
0 |
0 |
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Securities |
0 |
0 |
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Shares in other affiliated and associated units |
0 |
0 |
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Shares, participation shares and other variable income securities |
0 |
0 |
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Investment property |
0 |
0 |
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Other financial fixed assets |
0 |
0 |
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Long-term receivables |
0 |
540 |
2638 |
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Long-term receivables associated companies |
0 |
0 |
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Other long-term trade receivables |
0 |
0 |
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Other long-term receivables |
0 |
0 |
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Long-term investments |
0 |
540 |
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Goodwill |
0 |
0 |
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Prepaid expenses, deferred income, similar accounts |
0 |
0 |
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FIXED ASSETS |
4295 |
4799 |
7308 |
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Inventory - raw materials, consumables, working inventory |
2449 |
2348 |
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Semi-manufactured, finished goods, residual products |
0 |
0 |
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Inventory - Trading Goods |
8 |
8 |
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Livestock |
0 |
0 |
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Animals |
0 |
0 |
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Work in progress |
0 |
0 |
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Other inventory |
0 |
0 |
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Inventory |
2457 |
2356 |
969 |
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Intercompany receivables |
1988 |
0 |
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Trade debtors (receivables from customer) |
0 |
1564 |
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Short-term trade receivables |
0 |
0 |
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Debatable claims |
318 |
0 |
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Short-term receivables from government and other institutions |
0 |
447 |
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Other debtors (other receivables) |
10 |
64 |
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Short-term receivables |
2316 |
2075 |
3859 |
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Short-term own shares |
0 |
0 |
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Own shares, partnership shares, shares bought for resale |
0 |
0 |
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Short-term bonds and other securities |
0 |
0 |
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INVESTMENTS |
0 |
0 |
0 |
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Other securities |
0 |
0 |
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Short-term securities |
0 |
0 |
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Cash in hand |
0 |
0 |
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Cash in bank |
33 |
2 |
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Blocked cash |
104 |
2 |
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Other cash equivalents |
0 |
0 |
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Liquid assets |
137 |
4 |
53 |
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Prepaid expenses |
0 |
0 |
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CURRENT ASSETS |
4910 |
4435 |
4881 |
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TOTAL ASSETS |
9205 |
9234 |
12189 |
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Subscribed and paid capital |
5 |
5 |
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Unpaid issued capital |
0 |
0 |
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Own shares |
0 |
0 |
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SHAREHOLDERS EQUITY |
5 |
5 |
500 |
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Share Premium Account |
0 |
0 |
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Revaluation reserves |
0 |
0 |
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Statutory Reserves |
1096 |
1096 |
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Other Reserves |
0 |
0 |
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Reserves |
1096 |
1096 |
393 |
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Profit or loss carried forward |
0 |
139 |
40 |
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Profit of the year |
139 |
732 |
2268 |
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Loss of the year |
0 |
0 |
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Financial result for the year |
0 |
871 |
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Equity capital |
1240 |
1972 |
3201 |
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Long-term liabilities to affiliates |
0 |
0 |
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Long-term loans |
1908 |
1238 |
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Trade liabilities |
1597 |
1056 |
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Longterm bonds issued |
0 |
0 |
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Due to state – deferred taxes |
0 |
0 |
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Other long-term liabilities |
0 |
285 |
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Deferred income |
0 |
0 |
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Long-term liabilities |
3505 |
2579 |
2064 |
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Short term liabilities to shareholders |
0 |
0 |
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S-term Liabilities payable to financial institutions |
863 |
2483 |
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Trade creditors (accounts payable) |
3205 |
2075 |
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Short-term trade creditors |
283 |
0 |
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Amounts owed to workers |
63 |
74 |
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S-term Liabilities for taxes, contributions and other fees |
46 |
44 |
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Other liabilities |
0 |
7 |
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Statutory provisions |
0 |
0 |
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Accruals and deferred income |
0 |
0 |
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Short-term liabilities |
4460 |
4683 |
6924 |
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TOTAL LIABILITIES |
9205 |
9234 |
12189 |
Profit and loss
in BGN’000
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|
2005 |
2006 |
2007 |
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Cost of raw materials and consumables |
7793 |
15958 |
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External services |
1190 |
1132 |
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Depreciation |
222 |
755 |
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Wages and salaries |
325 |
887 |
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Social security charges |
99 |
217 |
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Other operating expenses |
207 |
593 |
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Cost of goods sold |
68 |
135 |
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Expenses from value adjustment of fixed assets |
-1459 |
-73 |
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Decrease in inventories, work in progress and prepaid expenses |
0 |
0 |
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Expenses from losses of work in progress and finished goods |
0 |
0 |
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Interest payable (interest expenses) |
55 |
235 |
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Losses on sale of securities |
0 |
0 |
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Foreign exchange losses |
112 |
57 |
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Other expenses on financial transactions |
68 |
78 |
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Expenses on financial transactions (financial expenditures) |
235 |
370 |
128 |
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Total operating expenses |
8680 |
19974 |
32152 |
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Profit/loss on ordinary activities (before taxation) |
174 |
861 |
2523 |
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Extraordinary expenses |
10 |
0 |
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Profit before taxation |
164 |
861 |
2523 |
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Taxes,duties and similar expenses |
25 |
129 |
255 |
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Profit tax |
25 |
129 |
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Other taxes |
0 |
0 |
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Profit after taxation |
139 |
732 |
2268 |
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Total expenses |
8854 |
20835 |
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Turnover, sales revenue |
8809 |
20588 |
34675 |
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Revenues from subsidies |
0 |
0 |
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Interest receivable and similar income (interest income) |
2 |
0 |
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Income from subsidiaries and associated companies |
0 |
0 |
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Revenues from investments,other long-term financial assets and
long-term debtors |
0 |
0 |
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Foreign exchange gains |
43 |
245 |
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Other income (earnings) from financial activities (financial income) |
0 |
2 |
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Income from financial transactions (financial income) |
45 |
247 |
0 |
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Total operating income |
8854 |
20835 |
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Loss on operating activity |
0 |
0 |
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Extraordinary income (extraordinary benefit) |
0 |
0 |
|
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Loss before taxation |
0 |
0 |
|
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Loss after taxation |
0 |
0 |
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Total income |
8854 |
20835 |
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FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
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%)