MIRA INFORM
REPORT
|
Report Date : |
27.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
MORUBEL NV |
|
|
|
|
Registered Office : |
2, Ankerstraat, Oostende |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
24.11.1999 |
|
|
|
|
Com. Reg. No.: |
468144665 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Processing and preserving of fish, crustaceans and mollusks |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Belgium |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Summary
|
company details |
|
|
Company Number |
468144665 |
|
Name |
|
|
Address |
2, ANKERSTRAAT, OOSTENDE |
|
Post Code |
|
|
Telephone Number |
059322868 |
|
Fax Number |
059324660 |
|
Establishment Date |
24-11-1999 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Number of Employees |
100 |
|
Activity Description |
Processing and preserving of fish, crustaceans and molluscs |
|
Activity Code |
10200 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
-- |
|
House Number |
|
|
City |
-- |
|
Postal Code |
|
|
Trade Registered Number |
|
|
Trade Registered Entry Date |
-- |
|
Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
-- |
|
Latest Event |
|
|
Serial Number |
171929 |
|
Event Description |
Reappointment commissioner |
|
Rating and Limit |
|
|
Credit Information |
|
|
Purchase Limit (€) |
14,600,000 |
|
Industry Comparison |
|
|
Industry Average Credit Limit (€) |
141,458 |
|
Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
93.08 |
|
Day Sales Outstanding |
61.79 |
|
Industry Comparison |
|
|
Activity Code |
1020 |
|
Activity Description |
Processing and preserving of fish, crustaceans and molluscs |
|
Industry Average
Day Sales Outstanding |
64.91 |
|
Industry Average
Payment Expectation Days |
65.96 |
|
Industry
Quartile Analysis |
|
|
Payment
Expectations - Lower |
46.42 |
|
Payment
Expectations - Median |
56.15 |
|
Payment Expectations
- Upper |
71.43 |
|
|
|
|
Day Sales
Outstanding - Lower |
33.04 |
|
Day Sales
Outstanding - Median |
45.17 |
|
Day Sales
Outstanding - Upper |
71.17 |
|
Company
Shareholder Holding |
|
|
Shareholder
Detail |
|
|
Company Number |
16564927 |
|
Company Name |
HEIPLOEG BEHEER BV |
|
Address |
PANSERWEG 14, 9974 SL ZOUTKAMP |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
|
|
Annual Accounts Date |
-- |
|
Shareholder Detail |
|
|
Company Number |
16564828 |
|
Company Name |
MORUBEL DEUTSCHLAND GMBH |
|
Address |
HARBURGERSTRASSE 28, BUXTEHUDE |
|
Postal Code |
21614 |
|
Country |
|
|
Share Percentage |
100 |
|
Annual Accounts Date |
01-03-2010 |
Company Accounts
|
Period |
|||
|
Accounts End Date |
31-03-2010 |
31-03-2009 |
31-03-2008 |
|
Currency |
EUR |
EUR |
EUR |
|
Weeks |
52 |
52 |
52 |
|
Profit & Loss |
|||
|
Turnover |
58,497,056 |
53,766,301 |
55,586,120 |
|
Total Operating Expenses |
52,897,176 |
47,352,946 |
48,315,730 |
|
Operating Result |
5,599,880 |
6,413,355 |
7,270,390 |
|
Total Financial Income |
1,802,848 |
3,283,537 |
2,894,714 |
|
Total Financial Expenses |
716,606 |
1,464,367 |
1,441,266 |
|
Results on Ordinary Operations Before Tax |
6,058,286 |
6,919,132 |
7,395,994 |
|
Taxation |
1,486,504 |
2,082,960 |
2,179,217 |
|
Results on Ordinary Operations After Tax |
4,571,782 |
4,836,172 |
5,216,777 |
|
Extraordinary Items |
2,425 |
1,260 |
1,008 |
|
Net Result |
4,574,207 |
4,837,432 |
5,217,785 |
|
Other Information |
|||
|
Dividends |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
|
Employee Costs |
5,105,690 |
4,869,292 |
4,680,338 |
|
- Wages & Salaries |
3,886,950 |
3,700,827 |
3,619,955 |
|
- Employee Pension Costs |
2,008 |
1,958 |
2,091 |
|
- Social Security Contributions |
1,115,411 |
1,037,742 |
974,516 |
|
- Other Employee Costs |
101,321 |
128,765 |
83,776 |
|
Amortization & Depreciation |
1,001,866 |
1,068,443 |
1,092,278 |
|
Balance Sheet |
|||
|
Intangible Fixed Assets |
6,651 |
10,692 |
9,336 |
|
Tangible Fixed Assets |
5,642,681 |
6,509,918 |
6,271,052 |
|
- Land And Buildings |
2,947,537 |
3,257,214 |
3,742,268 |
|
- Plant And Machinery |
2,648,995 |
3,204,737 |
2,507,507 |
|
- Other Tangible Assets |
46,149 |
47,967 |
21,277 |
|
Financial Fixed Assets |
89,905 |
88,019 |
92,319 |
|
Total Fixed Assets |
5,739,237 |
6,608,629 |
6,372,707 |
|
Inventories |
18,427,925 |
18,833,656 |
17,850,070 |
|
- Raw Materials & Consumables |
13,780,828 |
14,913,326 |
13,674,554 |
|
- Work in Progress |
117,215 |
236,913 |
250,547 |
|
- Finished Goods |
4,529,882 |
3,683,417 |
3,924,969 |
|
- Other Stocks |
0 |
0 |
0 |
|
Trade Debtors |
9,902,237 |
10,007,190 |
10,092,551 |
|
Cash |
23,649,809 |
13,811,845 |
9,039,043 |
|
- Miscellaneous Current Assets |
413,845 |
143,082 |
61,536 |
|
Total Current Assets |
73,982,409 |
66,196,916 |
60,392,487 |
|
Current Liabilities |
|||
|
- Trade Creditors |
13,490,108 |
8,956,261 |
7,737,719 |
|
- Short Term Group Loans |
2,668,893 |
944,196 |
416,139 |
|
- Other Short Term Loans |
20,044,637 |
22,451,479 |
21,926,774 |
|
- Miscellaneous Current Liabilities |
-1,520,457 |
20,977 |
613,743 |
|
Total Current Liabilities |
34,683,181 |
32,372,913 |
30,694,375 |
|
Long Term Debts |
|||
|
- Long Term Group Loans |
0 |
0 |
0 |
|
- Other Long Term Loans |
154,744 |
193,651 |
0 |
|
- Other Long Term Liabilities |
960,011 |
889,478 |
1,558,748 |
|
Total Long Term Debts |
1,114,755 |
1,083,129 |
1,558,748 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
61,988 |
61,988 |
61,988 |
|
- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
43,861,722 |
39,287,515 |
34,450,083 |
|
- Revaluation Reserve |
0 |
0 |
0 |
|
Total Shareholders Equity |
43,923,710 |
39,349,503 |
34,512,071 |
|
|
|||
|
Working Capital |
39,299,228 |
33,824,003 |
29,698,112 |
|
Net Worth |
43,917,059 |
39,338,811 |
34,502,735 |
|
Ratio Analysis |
|||
|
Trading Performance |
|||
|
Results on Ordinary Operations Before Taxation Margin |
10.36 |
12.87 |
13.31 |
|
Return On Capital Employed |
13.45 |
17.11 |
20.50 |
|
Return On Total Assets Employed |
7.60 |
9.50 |
11.08 |
|
Return On Net Assets Employed |
15.42 |
20.46 |
24.90 |
|
Sales / Net Working Capital |
1.49 |
1.59 |
1.87 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
31.50 |
35.03 |
32.11 |
|
Debtor Days |
61.79 |
67.94 |
66.27 |
|
Creditor Days |
93.08 |
69.04 |
58.45 |
|
Short Term Stability |
|||
|
Current Ratio |
2.13 |
2.04 |
1.97 |
|
Liquidity Ratio / Acid Ratio |
1.60 |
1.46 |
1.39 |
|
Current Debt Ratio |
0.79 |
0.82 |
0.89 |
|
Long Term Stability |
|||
|
Gearing |
52.06 |
59.95 |
64.74 |
|
Equity In Percentage |
0.55 |
0.54 |
0.52 |
|
Total Debt Ratio |
0.52 |
0.60 |
0.65 |
Company Court Data
|
Protested Bills |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
|
Name of Drawer |
-- |
|
City of Drawer |
-- |
|
NSSO Details |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
Labour Court |
-- |
|
Directors |
|
|
Company Director |
|
|
Full Name |
NICO MOOIJER |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
121 DONATA STEURHOF 1132 DG VOLENDAM |
|
Country |
The Netherlands |
|
Postal Code |
0 |
|
Birth Date |
|
|
Company Director |
|
|
Full Name |
JAN ERNST VEENMAN |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
48 WESTERSE DRIFT 9752 LJ HAREN |
|
Country |
The Netherlands |
|
Postal Code |
0 |
|
Birth Date |
|
|
Company Director |
|
|
Full Name |
RAMON MENDES DE LEON |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
19 VOSSENLAAN 3735 KM BOSCH EN D |
|
Country |
The Netherlands |
|
Postal Code |
0 |
|
Birth Date |
|
|
Company Director |
|
|
Full Name |
MICHEL VEERMAN |
|
Birth Date |
|
|
Position Description |
Managing director |
|
Address |
36 JOOST VAN DE VONDELSTRAAT 1132 SC VOLENDAM |
|
Country |
The Netherlands |
|
Postal Code |
0 |
|
Birth Date |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.94 |
|
UK Pound |
1 |
Rs.71.89 |
|
Euro |
1 |
Rs.64.09 |
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 |
|
---- |
NB |
New Business |
---- |
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.