MIRA INFORM
REPORT
|
Report Date : |
25.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
INDUSTRIA TEXTIL DO AVE SA |
|
|
|
|
Registered Office : |
Rua Vereador António José Da Costa, 200 - Apartado 5001, Usado, La
Nova De Famalicao |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2008 |
|
|
|
|
Date of Incorporation : |
16.12.1948 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Cable industry and industrial fabrics |
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 : |
49.880,00 Euros |
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Identification
|
Name |
INDUSTRIA TEXTIL DO AVE
SA |
|
|
|
|
|
V.A.T. Number / NIF |
500138265 |
|
Denomination |
ITA-Industria Têxtil do Ave |
|
|
|
Address |
Rua Vereador António José da Costa, 200 - Apartado 5001 |
|
|
|
Locality |
LOUSADO |
Postal Code |
4760-608-LOUSADO |
|
Municipality |
|
District |
|
|
Telephone |
252400470, 252450463, 252450464 |
|
|
|
Fax |
252400471 |
|
|
|
E-Mail |
|
|
|
|
Web Site |
|
|
|
|
|
|
|
|
|
C.A.E.(Rev 3) |
13962- Manufacturing of
textiles for technical and industrial n.d |
|
|
|
All the amounts are express in Euros, otherwise you will
be advised |
Summary
|
Legal Form |
Joint Stock Company |
|
|
|
Constitution |
16-12-1948 |
V.A.T. Number / NIF |
500138265 |
|
Employees |
136 |
Capital |
8.550.000,00 |
|
Sales in : 31-12-2008 |
47.776.250,00 |
Shareholders Funds in: 31-12-2008 |
16.420.551,00 |
|
Credit |
Recommended |
Credit Limit |
49.880,00 |
|
Condition |
|
Tendency |
Stationary |
|
Financing |
Guaranteed |
Payments |
Good |
|
Actual Condition |
In activity |
|
|
Governing Bodies
|
Board of Director's |
|
|
EDUARDO JORGE OSORIO DINIZ |
Board of Director's
Member |
|
FRANK JOACHIM WEBER |
Board of Director's
Vice-President |
|
JORGE ALMEIDA RAMIREZ |
Board of Director's
President |
|
|
|
|
Fiscal Board |
|
|
KPMG & ASSOCIADOS-SOCIEDADE DE REVISORES OFICIAIS DE CONTAS SA |
Unique Fiscal |
|
INES MARIA BASTOS VIEGAS CLARA NEVES GIRAO DE ALMEIDA |
Fiscal Board Substitute |
Banks and Financial Institutions
|
BANCO BPI, SA |
Avenida dos Aliados - |
|
MILLENNIUM BCP |
Vila Nova de Famalicão |
Historical
|
Registered on the
Register Record Office of Vila Nova de Famalicao with the Register Number
500138265 previous number 74 in 16-12-1948 |
|
Constitution celebrated in
16-12-1948 published on Diário da República of 08-01-1949 |
|
To oblige the company it
is necessary 2 signature |
Changes to Society
|
In 31-03-2009 on Portal
MJ of 11-11-2009 board of director's change |
|
In 31-10-2008 on Portal MJ
of 04-12-2008 board of director's change |
|
In 13-07-2007 on Portal
MJ of 17-07-2007 board of director's change |
|
In 30-03-2006 on Portal
MJ of 17-07-2007 board of director's change |
|
In 25-11-2004 on Diário
da República of 23-06-2005 board of director's change |
Capital
|
The Capital is
8.550.000,00 , divided in 8550 shares , with a nominal value of 1.000,00 |
|
|
with the following
shareholders |
|
CONTINENTAL
MABOR-INDUSTRIA DE PNEUS SA |
8.550.000,00 |
100% |
Shareholders / Partners Companies
|
NAME |
CONTINENTAL
MABOR-INDUSTRIA DE PNEUS SA |
|
Function |
Shareholder |
|
Address |
Rua Adelino Leitão, 330 - Apartado 5028 |
|
Locality |
LOUSADO |
|
Telephone |
252499200 |
|
Fax |
252417340 |
|
C.A.E. |
22111- Manufacture of tires and inner-tubes |
Insurance
|
Company |
|
Companhia Seguros Allianz Portugal SA |
|
Império Bonança Companhia de Seguros SA |
|
Zurich Companhia de Seguros SA |
|
Victoria Seguros SA |
Activities
|
Line of Business |
Percentage |
|
Cable industry and industrial fabrics (fabrics for tires) |
100% |
|
Type of Clients |
Private Companies |
|
|
|
Sales Conditions |
Cash/credit |
|
|
|
Sales Area |
|
|
|
|
Country |
15% |
Foreign |
85% |
|
Imports |
11% |
from |
|
|
Exports |
85% |
to |
CZECH REPUBLIC, CONGO,
ROMANIA, SWEDEN, THE REPUBLIC OF SOUTH
AFRICA, GERMANY, AUSTRIA, BRAZIL, BURKINA FASO, DENMARK, SLOVAKIA, SLOVENIA, SPAIN, UNITED
STATES OF AMERICA,
FRANCE, JAPAN, UNITED
KINGDOM |
Trade Marks
|
Intext General |
Denominations
|
ITA-Industria Têxtil do Ave |
Employees
|
Total |
136 |
Head Office and Installations
|
Head office and installations owned Rua Vereador António José da Costa,
200 - Apartado 5001, LOUSADO, 4760-608, LOUSADO, Tel:252400470, Fax:252400471 |
Incidents
|
Incidents |
|
There are no of incidents
on our database |
|
Business Concept |
|
Consulted sources say that
the subject has been respecting its payments and commercial commitments, so
credit connections with this company are recommended. |
Financial Elements
|
|
31-12-2008 |
|
|
Tangible Assets |
7.734.345,00 |
|
|
Investments |
8.480,00 |
|
|
Stocks |
6.194.460,00 |
|
|
Short Term Receivable |
2.487.346,00 |
|
|
Banks and Cash |
10.104.992,00 |
|
|
Accruals and Deferrals |
545.166,00 |
|
|
Total Assets |
27.074.789,00 |
|
|
Shareholder's Funds |
16.420.551,00 |
|
|
Provisions |
808.822,00 |
|
|
Medium and Long Term
Payable |
203.033,00 |
|
|
Short Term Payable |
9.024.008,00 |
|
|
Accruals and Deferrals |
618.375,00 |
|
|
Total Liabilities and
Shareholder's Funds |
27.074.789,00 |
|
|
Cost of Goods and
Consumable Materials |
35.262.079,00 |
|
|
Outside Supplies and
Services |
3.892.369,00 |
|
|
Personnel Costs |
3.852.388,00 |
|
|
Sales |
47.776.250,00 |
|
|
Supplementary Income |
286.883,00 |
|
Comparatives
|
|
31-12-2006 |
31-12-2007 |
31-12-2008 |
|
Net Sales |
48.119.699,00 |
44.694.186,00 |
47.776.250,00 |
|
Net Income For the Year |
2.882.926,00 |
3.438.297,00 |
3.887.498,00 |
|
Current Assets |
15.044.796,00 |
17.655.137,00 |
19.331.964,00 |
|
Short Term Payables |
6.990.178,00 |
7.485.064,00 |
9.024.008,00 |
|
Cash Flow |
8.054.618,00 |
10.170.073,00 |
10.307.956,00 |
|
Total Assets |
18.573.714,00 |
22.216.891,00 |
27.074.789,00 |
|
Total Liabilities |
9.166.459,00 |
9.521.337,00 |
10.654.238,00 |
|
Shareholders Funds |
9.407.255,00 |
12.695.552,00 |
16.420.551,00 |
|
Personnel Costs |
3.508.618,00 |
3.670.124,00 |
3.852.388,00 |
Ratios
|
|
31-12-2006 |
31-12-2007 |
31-12-2008 |
|
FINANCIAL SITUATION |
|
|
|
|
General Liquidity |
2,15 |
2,36 |
2,14 |
|
Immediate Liquidity |
1,55 |
1,75 |
1,46 |
|
Financial Autonomy |
0,51 |
0,57 |
0,61 |
|
Solvency |
1,03 |
1,33 |
1,54 |
|
RENTABILITY |
|
|
|
|
Sales Rentability |
5,99 % |
7,69 % |
8,14 % |
|
Sales Rate Increase |
|
(7,12) % |
6,90 % |
|
EFFICIÊNCY |
|
|
|
|
Assets Turnover |
2,59 |
2,01 |
1,76 |
Balance Sheet and Income Statement
Balance Sheet
CoinEURO Date31-12-2008
|
|
Gross Assets |
Depreciations /
Provisions |
Net Assets |
|
Tangible Assets |
|
Subtotal |
37.711.214,00 |
29.976.869,00 |
7.734.345,00 |
|
Financial
Investments |
|
Subtotal |
8.480,00 |
|
8.480,00 |
|
Stocks |
|
Subtotal |
6.398.469,00 |
204.009,00 |
6.194.460,00 |
|
Short
Term Receivable |
|
Subtotal |
5.003.468,00 |
2.516.122,00 |
2.487.346,00 |
|
Bank
Deposits and Cash |
|
Cash |
190,00 |
|
190,00 |
|
Bank Deposites |
10.104.802,00 |
|
10.104.802,00 |
|
Subtotal |
10.104.992,00 |
|
10.104.992,00 |
|
Accruals
and Deferrals |
|
Accrued Income |
132.826,00 |
|
132.826,00 |
|
Deferred Cost |
412.340,00 |
|
412.340,00 |
|
Subtotal |
545.166,00 |
|
545.166,00 |
|
|
|
Total Assets |
59.771.789,00 |
32.697.000,00 |
27.074.789,00 |
|
Shareholders
Funds and Liabilities |
|
Shareholders Funds |
|
Capital |
8.550.000,00 |
|
|
Treasury Stock: |
|
|
|
Share-Issue Premiuns |
748.197,00 |
|
|
Reserves : |
|
|
|
Legal |
425.338,00 |
|
|
Free |
2.809.518,00 |
|
|
Net Income For the Year |
3.887.498,00 |
|
|
Total |
16.420.551,00 |
|
|
Provisions |
|
Subtotal |
808.822,00 |
|
|
Short
Term Payable |
|
Bank Loans |
290.810,00 |
|
|
Supliers Fixed Asset |
101.625,00 |
|
|
State and Other Public
Bodies |
485.453,00 |
|
|
Other Creditors |
548,00 |
|
|
Trade Creditors |
8.145.573,00 |
|
|
Subtotal |
9.024.008,00 |
|
|
Medium
and Long Term Payable |
|
Bank Loans |
203.033,00 |
|
|
Subtotal |
203.033,00 |
|
|
Accruals
and Deferrals |
|
Accrued Charges |
536.594,00 |
|
|
Diferred Income |
81.781,00 |
|
|
Subtotal |
618.375,00 |
|
|
TOTAL LIABILITIES |
10.654.238,00 |
|
|
TOTAL LIABILITIES AND
SHAREHOLDERS FUNDS |
27.074.789,00 |
|
|
Income
Statement |
|
Costs
and Losses |
|
Cost of Materials
Consumed and Goods Sold: |
|
|
|
Subtotal |
35.262.079,00 |
|
|
Outside Supplies and
Services |
3.892.369,00 |
|
|
Personnel Costs |
|
|
|
Subtotal |
3.852.388,00 |
|
|
Depreciation |
562.562,00 |
|
|
Provisions |
380.192,00 |
|
|
Subtotal |
942.754,00 |
|
|
Other Operating Costs |
207.065,00 |
|
|
Int. and Similar Costs: |
|
|
|
Subtotal |
6.040,00 |
|
|
Ext. Costs and Losses |
95.939,00 |
|
|
Taxation Over Income |
1.266.156,00 |
|
|
Net Income For the Year |
3.887.498,00 |
|
|
Income
and Profits |
|
Sales of : |
|
|
|
Products |
47.621.249,00 |
|
|
Services Provided |
155.001,00 |
|
|
Subtotal |
47.776.250,00 |
|
|
Variation in Production |
678.150,00 |
|
|
Supplementary Income |
286.883,00 |
|
|
Other Operating Income
and Gains |
67.437,00 |
|
|
Subtotal |
354.320,00 |
|
|
Trading Securities Income
|
|
|
|
Int. and Similar Costs |
|
|
|
Other |
464.877,00 |
|
|
Extra Income and Gains |
138.690,00 |
|
|
Net Income For the Year |
3.887.498,00 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.58 |
|
|
1 |
Rs.72.79 |
|
Euro |
1 |
Rs.62.01 |
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 |
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 |
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.