MIRA
INFORM REPORT
|
Report Date : |
11.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
SQM |
|
|
|
|
Registered Office : |
7, Sint-Pietersvliet, Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
23.05.1933 |
|
|
|
|
Com. Reg. No.: |
404760808 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Wholesale of Chemical Products for Industrial. |
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 |
|
Maximum Credit Limit : |
9,450,000 (€) |
|
Status : |
Very 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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
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 |
404760808 |
|
Name |
SQM |
|
Address |
7, SINT-PIETERSVLIET, ANTWERPEN |
|
Post Code |
|
|
Telephone Number |
032039720 |
|
Fax Number |
032039772 |
|
Establishment Date |
23-05-1933 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Number of Employees |
32 |
|
Activity Description |
Wholesale of chemical products for industrial use |
|
Activity Code |
46751 |
|
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 |
175278 |
|
Event Description |
Allocation of powers of attorney |
Credit Limit
|
|
|
Credit Limit (€) |
9,450,000 |
|
Purchase Limit (€) |
88,000,000 |
|
Industry Comparison |
|
|
Industry Average Credit Limit (€) |
176,454 |
Payment Expectations
|
|
|
Payment Expectation Days |
120.59 |
|
Day Sales Outstanding |
97.11 |
|
Industry Comparison |
|
|
Activity Code |
4675 |
|
Activity Description |
Wholesale of chemical products |
|
Industry Average Day Sales Outstanding |
92.66 |
|
Industry Average Payment Expectation Days |
64.98 |
|
Industry Quartile Analysis |
|
|
Payment Expectations - Lower |
44.27 |
|
Payment Expectations - Median |
65.83 |
|
Payment Expectations - Upper |
97.20 |
|
|
|
|
Day Sales Outstanding - Lower |
19.04 |
|
Day Sales Outstanding - Median |
43.40 |
|
Day Sales Outstanding - Upper |
77.49 |
Company Shareholder Holding
|
|
|
Shareholder Detail |
|
|
Company Number |
9912608 |
|
Company Name |
SQM NITRATOS |
|
Address |
ANNIBEL PINTO, 3328 ANTO FAGASTA |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
0 |
|
Annual Accounts Date |
01-12-2007 |
|
Shareholder Detail |
|
|
Company Number |
895084524 |
|
Company Name |
POTASIUM NITRATE ASSOCIATION VZW |
|
Address |
HEIDESTRAAT 36 A/2, SINT-KATH.-LOMBEEK |
|
Postal Code |
1742 |
|
Country |
|
|
Share Percentage |
|
|
Annual Accounts Date |
-- |
Company Accounts
|
|||
|
Period |
|||
|
Accounts End Date |
31-12-2009 |
31-12-2008 |
31-12-2007 |
|
Currency |
EUR |
EUR |
EUR |
|
Weeks |
52 |
52 |
52 |
|
Profit & Loss |
|||
|
Turnover |
352,934,566 |
298,044,111 |
235,432,100 |
|
Total Operating Expenses |
346,692,914 |
292,855,631 |
232,727,340 |
|
Operating Result |
6,241,652 |
5,188,480 |
2,704,760 |
|
Total Financial Income |
15,057,096 |
22,033,700 |
9,544,727 |
|
Total Financial Expenses |
19,130,693 |
24,758,184 |
13,713,914 |
|
Results on Ordinary Operations Before Tax |
2,138,524 |
2,393,323 |
-1,528,452 |
|
Taxation |
149,560 |
129,290 |
79,978 |
|
Results on Ordinary Operations After Tax |
1,988,964 |
2,264,033 |
-1,608,430 |
|
Extraordinary Items |
0 |
0 |
415,720 |
|
Net Result |
1,988,965 |
2,264,033 |
-1,192,709 |
|
Other Information |
|||
|
Dividends |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
|
Employee Costs |
4,682,128 |
4,186,015 |
4,123,903 |
|
- Wages & Salaries |
3,058,836 |
2,984,276 |
3,041,853 |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
919,956 |
780,033 |
795,403 |
|
- Other Employee Costs |
703,336 |
421,706 |
286,647 |
|
Amortization & Depreciation |
851,023 |
920,442 |
884,878 |
|
Balance Sheet |
|||
|
Intangible Fixed Assets |
525,667 |
1,217,493 |
1,942,052 |
|
Tangible Fixed Assets |
368,266 |
443,407 |
317,674 |
|
- Land And Buildings |
0 |
0 |
0 |
|
- Plant And Machinery |
155,922 |
201,646 |
0 |
|
- Other Tangible Assets |
212,344 |
241,761 |
317,674 |
|
Financial Fixed Assets |
207,712 |
2,892,354 |
2,891,708 |
|
Total Fixed Assets |
1,101,645 |
4,553,254 |
5,151,434 |
|
Inventories |
85,754,888 |
126,920,432 |
65,312,703 |
|
- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
85,754,888 |
126,920,432 |
65,312,703 |
|
Trade Debtors |
93,897,428 |
69,793,416 |
47,283,750 |
|
Cash |
2,270,453 |
1,712,929 |
1,921,240 |
|
- Miscellaneous Current Assets |
162,937 |
2,874,101 |
3,059,279 |
|
Total Current Assets |
183,922,597 |
207,967,503 |
122,233,517 |
|
Current Liabilities |
|||
|
- Trade Creditors |
114,538,632 |
168,325,530 |
76,009,214 |
|
- Short Term Group Loans |
91,830,986 |
162,065,718 |
61,603,714 |
|
- Other Short Term Loans |
0 |
0 |
379,604 |
|
- Miscellaneous Current Liabilities |
-91,413,874 |
-160,954,369 |
-61,234,241 |
|
Total Current Liabilities |
114,955,744 |
169,436,879 |
76,758,291 |
|
Long Term Debts |
|||
|
- Long Term Group Loans |
0 |
0 |
0 |
|
- Other Long Term Loans |
65,766,322 |
40,770,668 |
50,552,483 |
|
- Other Long Term Liabilities |
0 |
0 |
25,000 |
|
Total Long Term Debts |
65,766,322 |
40,770,668 |
50,577,483 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
8,004,967 |
8,004,967 |
8,004,967 |
|
- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
-3,702,792 |
-5,691,756 |
-7,955,790 |
|
- Revaluation Reserve |
0 |
0 |
0 |
|
Total Shareholders Equity |
4,302,175 |
2,313,211 |
49,177 |
|
|
|||
|
Working Capital |
68,966,853 |
38,530,624 |
45,475,226 |
|
Net Worth |
3,776,508 |
1,095,718 |
-1,892,875 |
|
Ratio Analysis |
|||
|
Trading Performance |
|||
|
Results on Ordinary Operations Before Taxation Margin |
0.61 |
0.80 |
-0.65 |
|
Return On Capital Employed |
3.05 |
5.56 |
-3.02 |
|
Return On Total Assets Employed |
1.16 |
1.13 |
-1.20 |
|
Return On Net Assets Employed |
3.10 |
6.21 |
-3.36 |
|
Sales / Net Working Capital |
5.12 |
7.74 |
5.18 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
24.30 |
42.58 |
27.74 |
|
Debtor Days |
97.11 |
85.47 |
73.31 |
|
Creditor Days |
120.59 |
209.79 |
119.21 |
|
Short Term Stability |
|||
|
Current Ratio |
1.60 |
1.23 |
1.59 |
|
Liquidity Ratio / Acid Ratio |
0.85 |
0.48 |
0.74 |
|
Current Debt Ratio |
26.72 |
73.25 |
1560.86 |
|
Long Term Stability |
|||
|
Gearing |
3663.20 |
8768.61 |
228838.28 |
|
Equity In Percentage |
0.02 |
0.01 |
0 |
|
Total Debt Ratio |
36.63 |
87.69 |
2288.38 |
Company Court Data
|
|
|
Protested Bills |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
|
Name of Drawer |
-- |
|
City of |
-- |
|
NSSO Details |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
|
-- |
|
Directors |
|
|
Company Director |
|
|
Full Name |
PATRICIO DE SOLMINIHAC |
|
Birth Date |
|
|
Position Description |
Chairman of the board |
|
Address |
4285 EL TROVADER |
|
Country |
|
|
Postal Code |
0 |
|
Birth Date |
2011-01-01 |
|
Company Director |
|
|
Full Name |
EUGENIO |
|
Birth Date |
|
|
Position Description |
Vice chairman |
|
Address |
4285 EL TROVADOR |
|
Country |
|
|
Postal Code |
0 |
|
Birth Date |
2011-01-01 |
|
Company Director |
|
|
Full Name |
DANIEL JIMENEZ |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
425 EL TROVADOR |
|
Country |
|
|
Postal Code |
0 |
|
Birth Date |
2011-01-01 |
|
Company Director |
|
|
Full Name |
RICARDO ANDRES RAMOS RODRIGUEZ |
|
Birth Date |
1964-09-25 |
|
Position Description |
Director |
|
Address |
10 PUERTA DE HIERRO LO BARNECHEA |
|
Country |
|
|
Postal Code |
0 |
|
Birth Date |
2013-01-01 |
|
Company Director |
|
|
Full Name |
ENRIQUE ANTONIO OLIVARES CARLINI |
|
Birth Date |
1956-08-23 |
|
Position Description |
Director |
|
Address |
710 PASAJE |
|
Country |
|
|
Postal Code |
0 |
|
Birth Date |
2013-01-01 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.73 |
|
|
1 |
Rs.73.21 |
|
Euro |
1 |
Rs.63.90 |
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.