MIRA
INFORM REPORT
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Report Date : |
11.08.2011 |
IDENTIFICATION DETAILS
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Name : |
VIDRES SA |
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Registered Office : |
Ctra Onda Km 3,4 Villarreal, 12540 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2009 |
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Year of Establishment : |
1975 |
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Com. Reg. No.: |
A12019295 |
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Legal Form : |
Public Independent |
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Line of Business : |
Manufacture of other chemical products |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
-- |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Spain |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
company name and address
Vidres Sa
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Business Description |
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Manufacture of other chemical products n.e.c. |
Industry
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Industry |
Chemical Manufacturing |
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ANZSIC 2006: |
1899 - Other Basic Chemical Product
Manufacturing Not Elsewhere Classified |
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NACE 2002: |
2466 - Manufacture of other chemical
products not elsewhere classified |
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NAICS 2002: |
325998 - All Other Miscellaneous Chemical
Product and Preparation Manufacturing |
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UK SIC 2003: |
2466 - Manufacture of other chemical
products not elsewhere classified |
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US SIC 1987: |
2899 - Chemicals and Chemical Preparations,
Not Elsewhere Classified |
Key Executives
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1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7376022
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7632714
Corporate Overview
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Executives Report
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate (Period
Average) |
0.719047 |
0.683679 |
0.730637 |
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Consolidated |
No |
No |
No |
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Charges |
37.4 |
44.2 |
41.2 |
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Stock Reduction |
1.0 |
- |
- |
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Supplies |
15.0 |
20.3 |
21.1 |
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Goods Consumption |
0.0 |
0.0 |
0.1 |
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Consumption of Raw
Materials |
15.0 |
20.3 |
20.9 |
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Miscellaneous External
Expenditures |
- |
- |
0.0 |
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Staff Costs |
8.6 |
8.8 |
7.6 |
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Wages and Salaries |
7.0 |
7.0 |
6.0 |
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Social Security Costs |
1.6 |
1.8 |
1.5 |
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Depreciation |
4.2 |
3.1 |
2.9 |
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Allowance for Trade Operations |
0.1 |
0.4 |
0.6 |
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Losses from
Unrecovered Receivables |
0.1 |
0.4 |
0.6 |
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Other Operating Charges |
7.8 |
10.0 |
8.0 |
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External Services |
7.6 |
9.7 |
7.9 |
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Taxes |
0.1 |
0.1 |
0.1 |
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Other Operating
Expenses |
0.1 |
0.2 |
0.1 |
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Operating Benefits |
0.8 |
5.8 |
5.5 |
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Financials and Similar Charges |
0.4 |
0.4 |
0.4 |
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Due to Other
Liabilities |
0.4 |
0.4 |
0.4 |
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Changes in Financial Investment Provisions |
0.1 |
- |
- |
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Exchange Losses |
- |
0.0 |
0.1 |
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Profit From Ordinary Activities |
0.5 |
5.6 |
5.3 |
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Changes in Provisions for Assets |
0.0 |
0.0 |
-0.9 |
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Losses From Assets and Securities Portfolio |
0.0 |
- |
0.0 |
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Extraordinary Expenses |
- |
- |
0.0 |
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Expenses and Losses From Previous Years |
- |
- |
0.0 |
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Extraordinary Profit |
0.2 |
0.5 |
1.1 |
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Profit Before Taxes |
0.6 |
6.1 |
6.5 |
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Corporation Tax |
0.1 |
1.1 |
1.5 |
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Financial Year Result (Profit) |
0.5 |
5.0 |
4.9 |
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Income |
37.9 |
49.1 |
46.1 |
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Net Total Sales |
34.9 |
45.1 |
42.6 |
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Sales |
37.0 |
47.8 |
45.1 |
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Sales Refunds |
-2.1 |
-2.7 |
-2.5 |
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Increase in Stocks |
- |
0.5 |
0.7 |
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Works Performed for Fixed Assets |
1.8 |
1.5 |
1.3 |
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Miscellaneous Operating Income |
0.9 |
1.3 |
1.0 |
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Auxiliary Income From
Current Management |
0.8 |
1.0 |
0.8 |
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Grants |
0.1 |
0.3 |
0.1 |
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Income From Miscellaneous Interests |
0.1 |
0.1 |
0.2 |
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Miscellaneous
Interests |
0.1 |
0.1 |
0.2 |
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Gains from Exchange Rate |
0.0 |
- |
0.1 |
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Negative Financial Results |
0.4 |
0.3 |
0.2 |
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Profit on Disposal of Assets |
- |
0.0 |
0.0 |
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Capital Grants Transferred to Profit and Loss |
0.2 |
0.3 |
0.2 |
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Extraordinary Income |
0.0 |
0.3 |
0.0 |
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Income and Profit From Previous Years |
- |
- |
0.0 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Research and
Development Costs |
- |
- |
8.0 |
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Concessions, Patents,
Trademarks |
- |
0.2 |
- |
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Software |
0.0 |
0.0 |
0.2 |
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Assets Under Capital
Lease |
- |
- |
0.2 |
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Payments on Account |
0.2 |
- |
- |
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Provisions |
- |
- |
-0.1 |
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Accumulated
Depreciation |
- |
- |
-8.1 |
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Total Intangible Fixed Assets |
0.2 |
0.2 |
0.1 |
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Land and Construction |
8.6 |
8.1 |
10.1 |
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Technical
Installations and Machinery |
1.9 |
1.2 |
5.2 |
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Other Installations,
Tools, and Furniture |
1.9 |
1.2 |
5.2 |
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Tangible Fixed Assets
Under Construction |
- |
3.7 |
3.3 |
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Other Tangible Assets |
2.5 |
1.7 |
7.0 |
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Accumulated
Depreciation |
- |
- |
-15.2 |
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Total Tangible Fixed Assets |
14.8 |
15.9 |
15.6 |
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Investments in Group
Companies |
3.6 |
3.5 |
5.9 |
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Provisions |
- |
- |
-2.1 |
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Financial Investments |
3.6 |
3.5 |
3.7 |
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Long-Term Trade Receivables |
0.6 |
- |
- |
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Total Fixed Assets |
19.2 |
19.7 |
19.4 |
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Goods for Resale |
0.1 |
0.1 |
0.1 |
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Raw Materials and
Other Consumables |
2.4 |
2.9 |
2.9 |
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Goods in Process |
2.8 |
3.3 |
3.0 |
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Finished Products |
0.9 |
1.2 |
1.2 |
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Total Stocks |
6.1 |
7.5 |
7.2 |
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Trade Debtors |
15.9 |
18.4 |
20.8 |
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Receivables, Group
Companies |
0.5 |
0.5 |
0.3 |
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Other Debtors |
0.0 |
- |
0.0 |
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Staff |
0.0 |
0.0 |
0.0 |
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Public Bodies |
0.3 |
0.3 |
0.4 |
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Provisions |
- |
- |
-2.1 |
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Total Debtors |
16.8 |
19.1 |
19.4 |
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Short-Term Securities
Portfolio |
0.0 |
0.0 |
0.0 |
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Other Receivables |
0.6 |
0.6 |
0.7 |
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Short-Term Guarantees
and Deposits |
8.3 |
1.6 |
- |
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Total Short-Term Investments |
9.0 |
2.2 |
0.7 |
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Cash |
1.5 |
0.1 |
0.6 |
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Prepayments and Accrued Income |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
33.3 |
28.9 |
28.0 |
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Total Assets |
52.5 |
48.6 |
47.4 |
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Revaluation Reserves |
1.1 |
1.0 |
0.9 |
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Legal Reserve |
0.0 |
0.0 |
0.0 |
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Miscellaneous Reserves |
28.7 |
23.9 |
21.9 |
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Total Reserves |
28.8 |
23.9 |
21.9 |
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Profit or Loss for the Financial Year |
0.6 |
4.7 |
5.3 |
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Total Equity |
30.7 |
29.8 |
28.3 |
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Capital Grants |
0.2 |
0.2 |
0.3 |
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Unrealised Exchange
Gains |
- |
- |
0.0 |
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Total Deferred Income |
0.2 |
0.2 |
0.3 |
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Other Provisions |
- |
- |
0.1 |
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Total Provisions for Liabilities and Charges |
- |
- |
0.1 |
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Loans and Other
Liabilities |
10.0 |
6.4 |
6.6 |
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Total Amounts Owed to Credit Institutions |
10.0 |
6.4 |
6.6 |
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Other Creditors |
0.4 |
0.3 |
0.4 |
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Long-Term Payables to
Public Bodies |
0.1 |
0.1 |
0.0 |
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Total Other Creditors |
0.5 |
0.4 |
0.4 |
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Total Long Term Liabilities |
10.6 |
6.7 |
6.9 |
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Loans and Other
Liabilities |
3.4 |
3.0 |
2.1 |
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Accrued Interest on
Liabilities with Credit Instit |
- |
- |
0.0 |
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Total Amounts Owed to Credit Institutions |
3.4 |
3.0 |
2.2 |
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Amounts Owed to Group
Companies |
0.0 |
- |
0.3 |
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Total Short-Term Amounts Owed to Group and
Associa |
0.0 |
- |
0.3 |
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Advanced Payments from
Customers |
- |
- |
0.2 |
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Amounts Owed for Purchases
of Goods or Services |
6.9 |
7.4 |
6.2 |
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Debts Represented by
Notes Payable |
- |
- |
1.3 |
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Total Trade Creditors |
6.9 |
7.4 |
7.7 |
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Public Bodies |
0.3 |
0.7 |
1.0 |
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Bills of Exchange
Payable |
0.0 |
0.0 |
0.0 |
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Miscellaneous Debts |
0.0 |
0.4 |
0.2 |
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Wages and Salaries
Payable |
0.5 |
0.5 |
0.4 |
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Total Other Creditors |
0.8 |
1.5 |
1.7 |
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Provisions |
0.0 |
0.0 |
0.0 |
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Total Short Term Creditors |
11.1 |
11.9 |
11.8 |
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Total Liabilities and Equity |
52.5 |
48.6 |
47.4 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.45.20 |
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|
1 |
Rs.73.51 |
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Euro |
1 |
Rs.64.76 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.